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Kraken confidentially files for U.S. IPO following $800 million funding injection
Kraken has taken a major step toward going public, confidentially filing for an IPO with the SEC. The move comes after the crypto exchange secured $800 million in new funding, boosting its valuation to $20 billion ahead of its Wall Street debut.
Kraken, a major player in the crypto industry since 2011, has taken a formal step toward going public. The company announced it has filed a confidential draft registration for an Initial Public Offering (IPO) with the SEC.
This development follows a significant $800 million funding round that valued the San Francisco-based firm at $20 billion. The funding was led by prominent firms, including a $200 million strategic investment from Citadel Securities.
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The IPO will proceed after the SEC completes its review and when market conditions are deemed suitable. Kraken’s filing follows a trend of crypto firms like Circle and Gemini successfully entering public markets.
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Last update: Nov 20, 2025