Crypto Firm Kraken Said to Seek Over $10 Billion Valuation (1)

Kraken is in talks to raise new funding in a move that would more than double the cryptocurrency exchange’s valuation to more than $10 billion, according to a person familiar with the matter.

The San Francisco-based company, founded by Chief Executive Officer Jesse Powell in 2011, is in discussions with firms including Fidelity, Tribe Capital and General Atlantic, said people familiar with the matter, who requested anonymity because the talks are private. Terms, including lead investors, aren’t final, but Kraken’s valuation could surpass $20 billion depending on demand, one of the people said.

Representatives for Kraken, Tribe Capital, General Atlantic ...