Kraken Raises $800 Million, Including $200 Million From Citadel Securities at a $20 Billion Valuation
Kraken raised $800 million in two tranches in November 2025, led by Jane Street, DRW and others, with a $200 million investment from Citadel Securities.
Kraken announced on November 18, 2025 that it had raised $800 million in two tranches. The company said the money would speed up its plan to bring traditional financial products on-chain.
Who invested
The first tranche was led by institutional investors including Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management and Tribe Capital. The family office of Kraken Co-CEO Arjun Sethi also made a large commitment.
A second agreement covered a $200 million strategic investment from Citadel Securities at a $20 billion valuation. Kraken said the partnership with Citadel Securities would include liquidity provision, risk management expertise and advice on market structure.
Financial figures
Kraken said it has been profitable and that it generated $1.5 billion in revenue in 2024, a figure it passed within the first three quarters of 2025. Before this round, the company had raised only $27 million in primary capital since it was founded in 2011.
Recent expansion
The announcement pointed to several moves over the previous months:
One day later, Kraken said it had confidentially filed for a US initial public offering.
Source: Official exchange announcement
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