**Kraken Targets $20 Billion Valuation with New Funding Round**
Kraken is reportedly negotiating a new funding round of $200–$300 million, aiming to achieve a $20 billion valuation ahead of a planned IPO. The cryptocurrency exchange is preparing for its upcoming public listing with Morgan Stanley and Goldman Sachs serving as underwriters.
According to sources, Kraken is in advanced talks for this strategic funding round, which could significantly boost its market valuation. Previous fundraising efforts had valued Kraken at $15 billion, highlighting a substantial increase in the company’s worth.
Notably, Kraken recently appointed David Ripley as its new CEO, succeeding founder Jesse Powell. This anticipated influx of capital signals Kraken’s strong growth trajectory as it positions itself for the public markets.
### Leadership and Market Response
Despite the buzz around the funding round, both Kraken co-founder Jesse Powell and CEO David Ripley have remained silent on social media regarding these plans. The exchange’s official channels continue to provide routine updates without directly addressing the funding or valuation news.
Jesse Powell commented on the company’s future, stating:
“Our commitment to innovation and security will continue to drive our growth and success in this evolving landscape.”
### Potential Regulatory Scrutiny Ahead
As Kraken gears up for its IPO, the company may face increased regulatory scrutiny, a common challenge for cryptocurrency exchanges expanding in the public arena. Observers note that Kraken’s strategy to boost its valuation by $5 billion reflects patterns seen in major crypto exchange funding rounds, which often precede heightened market attention.
### Market Overview
For context, the broader cryptocurrency market remains dynamic. According to CoinMarketCap, Bitcoin (BTC) is currently trading at $109,482.60, reflecting a 24-hour change of -0.18%. Bitcoin’s market capitalization stands at approximately $2.18 trillion, holding a dominance rate of 57.75%. Over the past week, Bitcoin experienced a 5.33% decrease but maintains a 2.00% upward shift over the last 90 days.
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Kraken’s forthcoming funding round and IPO plans underscore the evolving landscape of cryptocurrency exchanges as they seek to balance growth, valuation, and regulatory compliance in a rapidly changing market.
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