Kraken Seeks $20 Billion Valuation in Pre-IPO Push

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Kraken is aiming for a $20 billion valuation in a new pre-IPO funding round, signaling strong investor confidence in the crypto sector’s resurgence. The exchange is in talks to raise up to $300 million, building on a reported $500 million raise earlier this year.

This push comes amid a favorable regulatory climate under the Trump administration and a wave of successful public listings for crypto firms like Circle and Bullish.

With major investment banks Morgan Stanley and Goldman Sachs onboard, Kraken’s planned 2026 IPO positions it as a major player in the merging worlds of digital and traditional finance.