PANews reported on September 27th that Bloomberg News reported that Kraken is in advanced negotiations for a new round of funding, which could value the cryptocurrency exchange at approximately $20 billion. A source familiar with the matter revealed that the funding, which has not yet been finalized and remains subject to market conditions, will include commitments of $200 million to $300 million from strategic investors. This source stated that Kraken had previously raised $500 million at a valuation of $15 billion, and that this funding represents a significant increase in the private market's valuation of the cryptocurrency giant. Kraken has selected Morgan Stanley and Goldman Sachs as underwriters for its upcoming initial public offering (IPO), expected to take place next year.

Earlier news reported that Kraken completed a $500 million financing round, with a valuation of $15 billion.