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San Francisco-Based Kraken Is Crowdfunding at a $4 Billion Valuation

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San Francisco-Based Kraken Is Crowdfunding at a $4 Billion Valuation
via kraken.com

Kraken, a San Francisco-based cryptocurrency exchange that hosts more than 60 trading pairs for 20 different coins, is reportedly crowdsourcing a fundraising round at a $4 billion valuation.

According to a recent email sent out to “valued clients,” Kraken has revealed that is looking to build a “war chest” of capital to fuel a seemingly aggressive M&A strategy to take advantage of depressed valuations caused by the 2018 bear market.

“There is presently a limited time opportunity available to a very small, select number of clients to purchase Kraken shares” at a $4 billion valuation with a $100,000 minimum, Kraken’s CEO, Jesse Powell, recently told CoinDesk.

The $4 billion round places Kraken at half the valuation of Coinbase, which recently closed a $300 million investment round from investors including Chase Coleman’s Tiger Global.

Kraken is a highly-regarded exchange and was recently recognized as the second leading platform in terms of security, coming in behind Coinbase Pro.

More: Kraken Is Seeking ‘War Chest’ Investment at a $4 Billion Valuation
Related: Report: Coinbase Pro and Kraken Score Highest in Exchange Security Rankings

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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coindesk.com

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