Pay $ 20 billion and buy Kraken! – The exchange with an ogre appetite

Double hit for Kraken? – The Kraken cryptocurrency exchange, officially launched in 2013, has experienced a meteoric rise that has taken it to a valuation of $ 10 billion today. But that is not enough for its CEO, Jesse Powell, who clearly wants to raise at least as much money now, or even more if affinities.

When cryptos easily attract $ 10 billion

According to a recent publication in the Bloomberg newspaper, the crypto-exchange Crypto Engine is in talks to raise new funds , with the aim of admitting to double the valuation of the company, from 10 billion to 20 billion dollars .

According to anonymous sources close to the case, Kraken is currently discussing with large investment funds such as Fidelity , Tribe Capital or General Atlantic to carry out this new investment round, to say the least spectacular.

Kraken’s final valuation could even „exceed $ 20 billion“ if investor demand is strong enough

The crypto-stock market is however not yet completely rid of its small liquidity crises in its order books, which occasionally cause significant wicks of quotation, as recently with the price of an ether which has „flashed down“ to $ 700 on the platform, in a matter of seconds.

Despite this, Kraken actually seems largely undervalued at present , since for comparison, the exchange platform Coinbase is about to go public, with a valuation that could exceed 100 billion dollars .

This new fundraising, if it were to be confirmed, is further proof of the current appetite of large institutional investors. An appetite that is as good for Bitcoin and cryptocurrencies themselves, as for companies linked to this very promising and booming sector.