The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Kraken has confidentially filed a draft S-1 with the SEC, setting up a potential U.S. IPO after its new $20 billion valuation.
The US-based cryptocurrency exchange Kraken recently secured a substantial $200 million investment from Citadel Securities, a global market maker. This investment values the exchange at an impressive $20 billion. Kraken’s Growth Backed By Citadel Securities Citadel Securities has expressed enthusiasm about supporting Kraken’s growth, emphasizing the firm’s role in shaping the future landscape of digital innovation within markets. Related Reading: Bitcoin Price Alert: This Indicator Signals SELL, Could History Repeat With A 67% Drop? Jim Esposito, president of Citadel Securities, highlighted their commitment to collaborating with Kraken on risk management and market structure analysis, among other strategic initiatives. This capital infusion comes on the heels of a previous financing round back in September of this year, during which the digital asset platform successfully raised $600 million at a $15 billion valuation. Investors in this earlier round included Wall Street entities such as Jane Street, DRW, HSG (formerly known as Sequoia Capital China), Oppenheimer, Tribe Capital, and the family office of Arjun Sethi, who serves as the exchange’s co-CEO. IPO Plans Unhurried Despite Strong Figures Kraken’s fundraising efforts, totaling $800 million across its two recent financing rounds, have significantly strengthened the company’s financial position ahead of its planned initial public offering (IPO) in the upcoming year. Related Reading: Crypto Market Wipes Out $1 Trillion Since October: Analyzing The Forces Behind The Crash However, last week, Bitcoinist reported that Kraken has no plans to speed up its initial public offering, backed by robust financial figures. In a Yahoo Finance interview, Sethi stated, “We have enough capital on our balance sheet as a private company. We don’t race to the door as quickly as possible.” Arjun Sethi previously emphasized the importance of maintaining a prudent approach, ensuring that the company’s financial foundation remains robust and poised for sustainable growth. In the wake of the recent funding, Sethi stated: This investment represents long-term conviction in Kraken’s mission to build trusted, regulated infrastructure for the open financial system. Our focus has always been straightforward: to create a platform where anyone can trade any asset, anytime, anywhere. The exchange also disclosed substantial revenue growth in the third quarter of the year, reaching $648 million. Yet, its closest competitor, Coinbase—the largest exchange in the country—reported revenue growth of $1.9 billion. Kraken’s recent acquisitions, including its $1.5 billion purchase of the futures trading platform NinjaTrader, are further examples of the exchange’s strategic expansion efforts this year. Looking ahead, the exchange revealed in a blog post: We plan to enter new markets across Latin America, Asia Pacific and EMEA, while broadening our offerings beyond crypto to include additional asset classes, advanced trading tools and staking solutions, expanded payment services and enhanced institutional capabilities. Featured image from DALL-E, chart from TradingView.com
The funding, which values Kraken at $20B, accelerates plans to integrate traditional markets with crypto infrastructure across multiple regions.
Kraken said Tuesday afternoon it has raised $800 million across two different tranches over the past two months.
Cloudflare experienced a service degradation issue on Tuesday that spilled over into multiple crypto front-ends.
The FCA defended its framework, stating that the measures ensure investors understand risks before trading digital assets.
Arjun Sethi said questionnaires and warnings about potential financial loss slow down transaction times while asset prices are moving.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Kraken will now allow traders to post crypto collateral in the European Union via its MiFID-regulated derivatives platform.
Evernorth has emerged as the latest powerhouse in institutional crypto accumulation, closing in on its ambitious XRP treasury goal. In just a few days, the firm has reached 95% of its accumulation target, marking a major milestone in XRP’s journey toward broader institutional adoption. The rapid growth of Evernorth’s reserves and its strategic partnerships has sparked renewed excitement across the XRP community, signaling what could be a pivotal shift in how institutions engage with the cryptocurrency. Evernorth Nears $1 Billion In XRP Holdings A new report from CryptoQuant has revealed that Evernorth’s XRP holdings is now nearing the $1 billion funding milestone, positioning it among the top institutional holders of the cryptocurrency. According to JA Maartunn, a community analyst at CryptoQuant, Evernorth currently holds 388,710,606.03 XRP, reaching 95% of its $1 billion target. Related Reading: Rumors Circulate That Ripple Is Buying $1 Billion Worth Of XRP — Here’s What We Know The company’s total XRP treasury is now valued at approximately $947,183,571, with unrealized profits of roughly $46 million generated in four days. This figure reflects an average purchase price of $2.44 per XRP, which Maartunn believes could become a defining price level for the cryptocurrency’s market trajectory. Notably, Evernorth’s XRP treasury comes amid a broader trend of institutional diversification toward digital assets. Earlier this year, several major crypto treasury institutions—most notably Strategy, with its aggressive Bitcoin accumulation strategy, and The Ether Machine, with its dedicated focus on Ethereum—set the tone for large-scale crypto accumulation. Evernorth’s expanding holdings signal a decisive shift beyond BTC and ETH, underscoring a maturing institutional demand for alternative layer-1 assets. It also suggests that XRP may become the next frontier for institutional treasuries seeking exposure to high-liquidity, regulated crypto assets. Evernorth’s XRP Growth Strategy Asheesh Birla, the CEO of Evernorth, introduced the treasury company last week, on October 20, through an X post. He described it as an institutional vehicle built to propel XRP’s global adoption. The announcement detailed the company’s plans to go public through a SPAC merger with Armada Acquisition Corp II (NASDAQ:AACI), targeting gross proceeds of more than $1 billion. Related Reading: XRP Price Teleport To $6: What Happens When The Euphoric Phase Begin Evernorth’s growth strategy includes acquiring XRP through innovative financial structures designed to maximize XRP per share and expanding internationally into key markets like Japan and South Korea. The company also plans to diversify its yield generation through risk-mitigated treasury deployment. These initiatives reflect a deliberate, structured approach toward building a long-term institutional presence around XRP. Ripple CEO Brad Garlinghouse has also praised Birla’s initiative, noting Ripple’s partnership and investment alongside prominent firms such as SBI Holdings, Pantera Capital, Kraken, GSR, and Rippleworks. Garlinghouse said that Evernorth’s participation in institutional lending, liquidity provision, and DeFi yield opportunities will be instrumental in expanding XRP’s utility. Ripple’s CTO, David Schwartz, who joins Evernorth as a strategic advisor, echoed this sentiment, expressing enthusiasm for building scalable opportunities for XRP across DeFi and capital markets. Featured image from Adobe Stock, chart from Tradingview.com
More than 100 firms across finance, payments, and technology are participating in the network's early development.
Kraken’s record-breaking third quarter paints a vivid picture of a maturing crypto market and a grown-up company setting its sights on a long-awaited public debut. With $648 million in revenue and $178.6 million in adjusted EBITDA, Kraken posted its highest-ever profits in Q3, up 114% year-on-year. Unlike some of its counterparts that have struggled throughout […]
The post How Kraken is quietly becoming the most bankable name in crypto appeared first on CryptoSlate.
Kraken has also handed all its employees a special one-off bonus, according to the sources.
The company said xStocks generated over $1 billion in onchain transactions and reached more than 37,000 unique holders.
The company's adjusted earnings before taxes and other items reached $178.6 million, up 124% quarter-over-quarter, with volume rising 23% to $561.9 billion.
The crypto exchange's UK market, now including neobank challenger app Krak, remains its second-largest outside the U.S.
Some of the top digital assets execs are heading to a meeting this week with U.S. Senate Democrats to see about getting the market structure bill moving.
Kraken bought Small Exchange for $32.5 million in cash and $67.5 million in stock, IG announced on Thursday
With the Small Exchange acquisition as the base, Kraken aims to establish a fully US-based derivatives trading platform.
Tydro will serve as “core infrastructure for DeFi on Ink" and could be integrated into Kraken's core exchange product.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The move is part of the exchange's strategy to offer an all-in-one trading experience as it gears up for a potential public listing.
A strategic investor is talking to Kraken about investing $200 million to $300 million at a $20 billion valuation.
The funding round sets the stage for a long-awaited IPO, expected to take place next year.
Solana (SOL) investors are witnessing rising volatility as a surge in whale activity signals deadly selling pressure in the market. Despite a strong rally above $250 earlier in September, market sentiment appears to be shifting, with whale deposits into centralized exchanges hinting at potential headwinds ahead. Most recently, a staggering 312,233 SOL tokens were deposited into Coinbase, fueling concerns that whales may be positioning for significant profit-taking. Solana Whale Deposits Signal Rising Selling Pressure Blockchain tracker Whale Alert reported one of the largest Solana transfers in recent weeks, with 312,233 SOL valued at approximately $75.1 million, moved from an unknown wallet to Coinbase Institutional on September 21. The size and timing of this large-scale transfer immediately raised concerns that whales could be positioned to sell. Related Reading: XRP Price At $23, Dogecoin To $2, And Solana At $1,800? Analyst Unveils 2026 Predictions Before this transfer, Whale Alert had flagged another massive transaction of 227,928 SOL, worth around $54.5 million, being funneled into Coinbase on the same day. Together, these two deposits represent more than $129 million in Solana potentially at stake of being sold off. The implications of such moves are significant, as large holders typically send tokens to exchanges with the intention to sell, ultimately adding considerable downward pressure to the market. Notably, Solana’s price rally in September has been fueled by strong demand; however, these recent transfers raise the risk of oversupply, particularly as the token hovers around $224. If whales follow through with the selling, it could cap SOL’s bullish breakout attempt and force the price back to lower support zones. Interestingly, this is not the first time Solana has faced similar whale-driven headwinds this month. Just over a week ago, blockchain analytics platform Lookonchain reported multiple whale dumpings into various crypto exchanges. A wallet tagged “CMJiHu” deposited 96,996 SOL ($17.45 million) into Coinbase, while “5PjMxa” moved 91,890 SOL ($15.98 million) to Kraken. The same day, another wallet “HiN7sS” transferred 37,658 SOL ($6.73 million) to Binance, securing a profit of $1.63 million. These earlier transfers, combined with the latest inflows, show a pattern of whales steadily reducing their exposure as market sentiment shifts. SOL Momentum Weakens Under Heavy Selling Crypto analysts now view Solana as being at a pivotal crossroad, where strong fundamentals clash with mounting selling pressure and technical risks. Market expert Tom Tucker notes that SOL has climbed more than 150% in 2025, but its rally is showing signs of fatigue. The analyst’s chart reveals a rising wedge formation, often a precursor to a breakdown, combined with weakening momentum indicators. Related Reading: Solana price At Risk Of 10% Crash With Descending Broadening Wedge The Relative Strength Index (RSI) is narrowing into a triangle, suggesting indecision, while the MACD has flattened after months of strength. This setup, when paired with heavy whale deposits into exchanges and rising sell pressure, underscores the growing possibility of a short-term pullback. Yet, the outlook is not entirely bearish. Tucker points to optimism surrounding a potential Solana ETF, the upcoming Alpenglow upgrade, and steady treasury accumulation as fundamental drivers that could extend SOL’s long-term growth. Featured image from iStock, chart from Tradingview.com
Crypto exchange Kraken has partnered with ICO platform Legion to host MiCA-compliant token sales on its new Launch platform.
Four senior executives who work on the institutional side of business have recently left Kraken.
A long-dormant Bitcoin whale has resurfaced, moving funds untouched since 2012. On Sept. 11, blockchain tracker Lookonchain revealed that three connected addresses shifted 137 BTC, worth about $15.6 million, out of a cache of 955 BTC (equivalent to $108 million). According to the firm, a small portion of the funds, 5 BTC, was sent to […]
The post Dormant Bitcoin whale last active at $12 per BTC awakens sending funds to Kraken appeared first on CryptoSlate.
Crypto exchange Kraken is introducing a new product familiar to many crypto traders — perpetuals — in select jurisdictions on Thursday.