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This month, the cryptocurrency exchange Kraken successfully wrapped up a substantial $500 million funding round, propelling its valuation to a remarkable $15 billion. Notably, the absence of a lead investor allowed Kraken to independently set the terms of this funding round. Among the investors involved is Tribe Capital, alongside other contributors. Earlier in the year, Kraken made headlines by acquiring NinjaTrader for $1.5 billion, a strategic move that significantly expanded its user base by 2 million. This latest funding round is strategically positioned to pave the way for Kraken's anticipated initial public offering (IPO) in 2026. Catering predominantly to professional and institutional clients, Kraken has also recently introduced innovative products like xStocks, aiming to foster greater integration between traditional finance and crypto assets.
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