Kraken Raise Hit $800M at $20B Value; CEO Talks FTX 2.0
The post Kraken Raise Hit $800M at $20B Value; CEO Talks FTX 2.0 appeared on BitcoinEthereumNews.com.
Kraken raised $800M at a $20 billion valuation, led by Tribe Capital and Citadel Securities. Co-CEO Arjun Sethi revealed Kraken was shortlisted for FTX 2.0 but rejected by lawyers. Sethi cites “conviction” during the 2022 crash as the key driver for the firm’s current success. Kraken has secured one of the largest funding rounds in the current crypto cycle. The exchange raised $800 million, achieving a confirmed valuation of $20 billion. This milestone arrives alongside a new revelation: Kraken was shortlisted for the FTX 2.0 restart tender but was rejected by bankruptcy lawyers. Co-CEO Arjun Sethi shared the strategy behind this raise. He detailed the years of discipline and risk required to build a resilient financial institution. His account illustrates how conviction, rather than favorable market cycles, shaped Kraken’s trajectory. Related: Kraken Raises $800 Million to Advance Strategic Roadmap at $20B Valuation Long Road Built on Data, Resilience, and High-Conviction Bets Sethi explained that his worldview formed long before the fundraise. He spent years working with quantitative experts who helped build major technology companies. Hence, he relied on data-driven frameworks when he co-founded Tribe Capital in 2018. The firm expanded from early-stage investments into crypto by 2020 because the evidence pointed to a shift in global financial infrastructure. However, the environment changed dramatically in 2022 when markets crashed. Many institutional partners urged Tribe to scale back its crypto exposure after significant losses. Sethi noted that several investors acted from reputational fear rather than long-term logic. Consequently, he and his team moved in the opposite direction. They deployed more capital through 2022, 2023, and 2024 as valuations reset. Entry levels improved, and conviction deepened. The strategy later produced strong returns, including the creation of Kapital, a regulated Latin American bank now valued above $1.5 billion with more than $400 million in…
