Kraken CEO: $800M Raise Driven by ‘Conviction’ After FTX 2.0 Rejection
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- Kraken raised $800M at a $20 billion valuation, led by Tribe Capital and Citadel Securities.
- Co-CEO Arjun Sethi revealed Kraken was shortlisted for FTX 2.0 but rejected by lawyers.
- Sethi cites “conviction” during the 2022 crash as the key driver for the firm’s current success.
Kraken has secured one of the largest funding rounds in the current crypto cycle. The exchange raised $800 million, achieving a confirmed valuation of $20 billion. This milestone arrives alongside a new revelation: Kraken was shortlisted for the FTX 2.0 restart tender but was rejected by bankruptcy lawyers.
Co-CEO Arjun Sethi shared the strategy behind this raise. He detailed the years of discipline and risk required to build a resilient financial institution. His account illustrates how conviction, rather than favorable market cycles, shaped Kraken’s trajectory.
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