Kraken Targets $500M Raise at $15B Valuation as Regulatory Clarity Boosts Expansion Drive

Court Win, Institutional Demand, and Global Product Push Fuel Crypto Exchange’s Ambitions

On July 30, 2025, the U.S.-based cryptocurrency exchange Kraken is reportedly seeking to raise $500 million in a new funding round, aiming for a $15 billion valuation, according to The Information and confirmed by Reuters. The move underscores a renewed wave of investor confidence in crypto infrastructure providers following major regulatory shifts in the United States and rising institutional adoption.

The funding initiative comes months after a U.S. court dismissed a Securities and Exchange Commission (SEC) lawsuit against Kraken, removing a significant legal overhang. Since then, the company has aggressively expanded its services, licenses, and geographic reach, including into Latin America and across regulated European markets.

A Post SEC Lawsuit Rebound

Earlier this year, the SEC dropped its lawsuit against Kraken over its crypto staking services, marking a key victory not just for the exchange but for the broader U.S. crypto industry. The dismissal paved the way for Kraken to re-launch its staking program and reinforced its legal positioning in the U.S. market.

The exchange’s legal team had long argued that its staking services did not constitute securities offerings. The court’s decision appears to have validated that position and cleared the path for institutional fundraising and product development.

This decision was well-timed, as it coincided with the passing of two landmark crypto bills in the U.S, the GENIUS Act and the CLARITY Act, which are helping usher in a new era of regulatory certainty.

Regulatory Tailwinds Lift Investor Appetite

The GENIUS Act, enacted in July 2025, establishes reserve and compliance standards for stablecoin issuers, aligning them with traditional finance principles. Meanwhile, the CLARITY Act, passed during Washington’s “Crypto Week,” wants to shift regulatory oversight of most cryptocurrencies from the SEC to the Commodity Futures Trading Commission (CFTC).

Together, these laws are credited with boosting institutional confidence and bringing long-awaited clarity to digital asset markets in the U.S.

Strategic Acquisitions and Global Expansion

Founded in 2011, Kraken is one of the longest-standing exchanges in the space. But recent developments show it has no intention of standing still. The firm has made major moves in 2025 to expand its global footprint and product offerings:

In March, Kraken acquired the futures trading platform NinjaTrader in a deal reportedly worth $1.5 billion. This move gives Kraken deeper exposure to derivatives and leverage products.

In June, the company launched the Krak App. This helped support over 300 digital and fiat currencies and enabled payments across 110 countries.

The exchange also gained critical regulatory approvals, including MiCA, MiFID, and EMI licenses in Europe and the U.K, giving it one of the most robust compliance frameworks of any crypto exchange globally.

Kraken has expanded into Latin America, rolling out local currency support in Argentina and Mexico, a move that places it in direct competition with other global fintech giants like Binance and Mercado Pago.

These efforts have contributed to remarkable growth. Kraken’s 2024 revenue hit $1.5 billion, a 128% increase year-over-year, with $424 million in adjusted EBITDA. The company recorded over 2.5 billion trades with 24-hour trading volumes consistently above $1 billion, spanning 450+ cryptocurrencies and multiple fiat pairs.

Competition in a Crowded Market

Kraken is not alone in seeking major capital inflows. The fundraising effort places it among a cohort of mature crypto firms, including BitGo, Grayscale, and Circle, all of which are pursuing late-stage investments as they eye potential public listings or strategic mergers.

The global competition is also heating up. Other players like Telegram’s TON Wallet are making bold moves to capture market share in crypto-based payments and smart contract platforms. TON’s recent U.S. launch shows that major tech-driven players are now entering the fintech-crypto race with full force. Read more about Telegram’s TON Wallet launch here.

“The difference is that Kraken has both the battle scars and the licenses,” said Javier Ortega, a fintech advisor at QuantEdge Global. “That matters in today’s regulatory-first environment.”

Looking Toward IPO?

The $500 million raise, if successful, could be a prelude to something bigger: a long-speculated Kraken IPO. The company has hinted at going public multiple times over the years but refrained due to market volatility and unclear U.S. regulations.

Now, with the growing revenues and a friendlier legislative landscape, conditions may be more favorable.

Final Thoughts

With clearer regulations and a product suite that is aimed at global markets, the company appears now to be well-positioned to lead in both retail adoption and institutional integration.

As investors look for solid infrastructure plays in a still-volatile market, Kraken’s blend of regulatory compliance, technological depth, and strategic timing may make it one of the most attractive bets in the space.