Kraken’s valuation hits $20B after latest raise backed by $200M from Citadel Securities

Kraken's parent company has taken a significant step towards an initial public offering (IPO), aiming to join other cryptocurrency firms like Circle, Gemini, Bullish, and Figure Technologies. This move comes amid a volatile market, indicating Kraken's commitment to growth despite industry challenges.

Kraken has confidentially filed for an initial public offering (IPO) in the U.S. through Payward, Inc. following a successful $800 million fundraising round that has valued the cryptocurrency exchange at $20 billion.

Payward Inc., known as Kraken, has confidentially filed an S-1 registration statement with the U.S. Securities and Exchange Commission as part of its preparations for an initial public offering (IPO). This move signifies Kraken's commitment to expanding its presence in the cryptocurrency market amid increasing regulatory scrutiny.

Crypto exchange Kraken has submitted a confidential filing for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). This filing comes shortly after Grayscale Investments announced a similar move, indicating a trend among cryptocurrency firms seeking to go public.

Kraken has confidentially filed for an initial public offering (IPO) in the United States, a move that may indicate growing mainstream acceptance and regulatory scrutiny of the cryptocurrency sector in the country.

Kraken has successfully raised $800 million through two funding rounds, resulting in a valuation of $20 billion. The funding was significantly bolstered by a $200 million investment from Citadel Securities. This financial boost is expected to support Kraken's expansion plans in the competitive cryptocurrency market.

Kraken, a US-based cryptocurrency exchange, has secured a $200 million investment from Citadel Securities, leading to a valuation of $20 billion. This investment is part of Kraken's growth strategy, with Citadel expressing commitment to collaborate on risk management and market structure analysis. This funding follows a previous round in September where Kraken raised $600 million at a $15 billion valuation.

Solana has initiated a recovery wave from the $128 level, with its price currently consolidating above $135. The cryptocurrency has encountered resistance near the $142 mark, which it must surpass to continue its upward trajectory. A significant break above a bearish trend line at $137 has occurred, indicating potential for further gains if key resistance levels are cleared. The price movement aligns with broader trends observed in Bitcoin and Ethereum, suggesting a positive sentiment in the market.