Kraken Plots $20 Billion Pre-IPO Fundraise

Kraken is the latest crypto firm to ride the current IPO wave, with plans for a pre-IPO funding round that could value it at $20 billion. The exchange is seeking up to $300 million, a significant step up from its reported $15 billion valuation just months ago.

This move places Kraken alongside peers like Circle and Bullish, which have successfully gone public this year. The trend is fueled by a supportive regulatory shift and booming market interest.

With its expansion efforts and banking giants Morgan Stanley and Goldman Sachs advising, Kraken’s 2026 IPO is shaping up to be one of the most anticipated in the digital asset space.