(Reuters) -Crypto exchange Kraken is in advanced talks to secure fresh funding that could value the company at about $20 billion, Bloomberg News reported on Friday.
The funding would include a commitment of $200 million to $300 million from a strategic investor, the report said, citing a person familiar with the discussions.
The deal, which is subject to market conditions, would follow the company’s $500 million fundraising round at a $15 billion valuation earlier this year, the report added.
Investor interest in cryptocurrency firms has been rising as the asset class benefits from clearer regulations and broader institutional adoption.
A spokesperson for Kraken declined to comment on the report.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Mohammed Safi Shamsi)
Comments