Kraken in Strategic Investor Talks at $20 Billion Valuation (1)

Kraken is in advanced talks to raise new funding that could value the crypto exchange at about $20 billion, as the company steps up capital-raising efforts ahead of a potential public listing.

The funding, which is not yet finalized and remains subject to market conditions, would consist of a $200 million to $300 million commitment from a strategic investor, according to a person familiar with the discussions who declined to be named citing confidentiality.

It would follow Kraken’s recent $500 million raise at a $15 billion valuation, the person, said, and mark a significant step-up in how private markets are ...