Kraken: Powering the Future of Crypto
About Company
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Kraken is a leading crypto exchange, ranked #1 in Europe and #2 in the USA by market share.
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The platform serves both retail and institutional investors, offering spot markets, futures, OTC, etc.
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Kraken holds licenses in multiple regions, including the USA, Canada, EU, and the UAE.
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The exchange operates in over 190 countries with a user base exceeding 13 m.
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Due to lagging private markets, Kraken is attractively valued compared to its closest public competitor, Coinbase.
San Francisco
USA
2011
founded
Jesse Powell
founders
Key highlights
- 3x expected valuation growth potential by 2026 from the current valuation, driven by the Company’s fast growth and catching up with the public markets. - 2.1x revenue growth to $1.5 bn in 2024 (confirmed by Kraken), from which $500 m the Company earned in Q4 2024. - $500 m expected EBITDA in FY24 – pivot from EBITDA loss of ($100) m in 2023. - Primary round of over $100 m is to be raised by Q2 2025, last one before IPO.
