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Kraken
also invests · investor profileUnicorn · $20BFounded 2011 · 1,165 employees on LinkedIn · 63 known investors
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Kraken 360 Investments provides capital and launch infrastructure to blockchain protocols in pre-token and early post-token phases, offering custody, staking, treasury, and liquidity services alongside fundraising support.
Also known as Kraken Exchange · Payward · Payward Interactive, Inc. · Payward Ventures Inc. · Payward, Inc.
Founders & leadership
Kraken was founded in 2011 by Jesse Powell, Michael Gronager, and Thanh Luu.
Investors · 63
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Also in the syndicate · 6
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Kraken, legally named Payward, Inc., is a US-based cryptocurrency exchange founded in July 2011 and headquartered in San Francisco, California. It launched publicly in September 2013 with bitcoin, Litecoin and euro trading before adding further assets and margin trading. The platform now spans spot trading, derivatives and futures, equities and tokenized equities, staking, custody and payments. Kraken states support for more than 600 crypto trading pairs and over 11,000 US stocks and ETFs, accessible through web, mobile app and API, with margin leverage of up to 10x on perpetual products. It reports more than $2 trillion in cumulative trading volume since 2011.
The company describes a vertically integrated infrastructure stack covering exchange matching, custody, clearing, settlement, market data and wallet services, which it says allows rapid deployment of new asset classes. Adjacent products include Kraken Institutional (launched March 2024), the multi-chain Kraken Wallet, Kraken Futures, Kraken Pro/VIP tiers, a Kraken+ subscription at $4.99 per month offering zero trading fees up to $10,000 monthly and boosted USDG rewards, the KRAK global payments/savings app, Ink (a Layer 2 network built on the OP Stack), the Embed white-label trading platform for financial services firms, and a Kraken CLI aimed at AI agents. US securities brokerage is provided through Kraken Securities LLC, a FINRA/SIPC member subsidiary of Payward, while US digital asset services run through Payward Interactive, Inc. (excluding WA, NY and ME).
Kraken was the first cryptocurrency company to obtain a US bank charter, receiving a Wyoming special purpose depository institution charter for Kraken Financial in September 2020. It has grown partly through acquisitions, including Coinsetter and Cavirtex (January 2016), CleverCoin and Glidera (February 2016), Cryptowatch (March 2017), Crypto Facilities (February 2019), Staked (2021), Coin Meester B.V. (October 2023) and NinjaTrader, which brought US futures trading.
Compiled by commissioned research from 11 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Founder mafia
The Kraken mafia →15 people who came through Kraken went on to found or lead other companies.
Related companies · 8
Companies working in the same space as Kraken.
Timeline · 40
launches, deals, and filingsKraken and Maple closed an onchain warehouse facility for digital asset-backed loans.
Payward obtained VARA authorization in the United Arab Emirates, enabling Kraken to expand its regional presence.
Following its $800 million raise, Kraken said it would scale global operations and enter new markets across Latin America, Asia Pacific and EMEA while broadening offerings beyond crypto.
Kraken began offering a version of its trading platform, named Embed, to financial service companies; European digital bank Bunq was among the users.
Kraken, as Payward Inc., was reported to be planning an IPO in early 2026.
Kraken integrated US futures trading through its acquisition of NinjaTrader as part of expanding its multi-asset ecosystem.
An agreement for a $200 million strategic investment from Citadel Securities was executed at a $20 billion valuation; the collaboration is to include liquidity provision, risk management expertise and market structure insights.
$200M source ↗
Kraken announced an $800 million raise led by institutional investors including Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management and Tribe Capital, plus a commitment from co-CEO Arjun Sethi's family office. A subsequent $200 million strategic investment from Citadel Securities was executed at a $20 billion valuation. Proceeds are earmarked for global scaling, regulated footprint expansion, new asset classes and targeted acquisitions, with planned entry into Latin America, Asia Pacific and EMEA.
$800M source ↗
Kraken began allowing trading of tokenized equities by non-US customers, and launched equities and tokenized equity trading alongside KRAK, a global app for payments, savings and investing.
Kraken integrated U.S. futures trading through its acquisition of NinjaTrader.
Kraken launched equities and tokenized equity trading and introduced KRAK, a global app for payments, savings and investing.
Kraken and a consortium of crypto firms launched the Global Dollar Network, a US dollar-pegged stablecoin initiative.
Kraken and a consortium of crypto firms launched the Global Dollar Network, a joint stablecoin pegged to the US dollar.
Kraken appointed Arjun Sethi co-CEO with Dave Ripley at the time of a workforce reduction.
Kraken laid off around 400 of its approximately 2,600 employees.
Kraken laid off 15% of its workforce, around 400 of 2,600 employees, and named Arjun Sethi co-CEO alongside Dave Ripley.
Kraken introduced a dedicated division for institutional investors, followed shortly by Kraken Wallet, a multi-chain crypto wallet supporting eight blockchains.
Kraken cites a Forbes Advisor 2024 best crypto exchanges award.
Kraken acquired Netherlands-based crypto exchange Coin Meester B.V. (BCM).
Then-COO Dave Ripley became CEO, with founder Jesse Powell moving to chairman.
Kraken closed its Japanese operations for a second time citing market conditions and a weak global crypto market, and also closed its Abu Dhabi office less than a year after securing a UAE license. An earlier Japan exit was announced in April 2018, with a return to the market in 2020.
Kraken added virtual asset service provider licenses in Ireland, Italy and Spain.
Kraken settled with the SEC over its staking-as-a-service offering, paying $30 million and discontinuing the service for US clients.
$30M source ↗
Kraken launched a beta version of its NFT marketplace, with full NFT trading launched in June 2023 supporting fiat and crypto payment for listings.
Kraken cut roughly 30% of staff to preserve capital and refocus operations during the crypto winter.
Kraken released a mobile app for international users in January 2021; it became available in the United States that June.
Kraken Financial received a special purpose depository institution charter in Wyoming, making Kraken the first cryptocurrency exchange to hold a bank charter in the United States.
Kraken Financial received an SPDI charter in Wyoming, making Kraken the first cryptocurrency exchange to hold a bank charter in the United States.
Kraken received $13.5 million from 2,263 individual investors through a special-purpose vehicle.
$13.5M source ↗
Kraken acquired British derivatives trading firm Crypto Facilities.
Kraken introduced a futures platform offering high-leverage hedging tools for professional traders.
Kraken acquired Dutch exchange CleverCoin and cryptocurrency wallet service Glidera.
Kraken purchased New York-based bitcoin exchange Coinsetter and Canadian exchange Cavirtex, absorbing both brands and transferring client accounts.
Kraken opened what it described as the first dark pool for bitcoin.
Kraken became one of the first bitcoin exchanges to have its data included on the Bloomberg Terminal.
Following Mt. Gox's bankruptcy, Kraken was chosen by the trustees to assist with liquidation, investigating lost bitcoins and repaying creditors; Kraken's user base grew 50% in the two months after the breach.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 11
primary sources listed
- Krakenkraken.com · web
11 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Kraken do?
- Kraken, legally Payward, Inc., is a US-based cryptocurrency exchange founded in 2011 that also offers stocks, futures and payments.
- Who founded Kraken?
- Kraken was founded by Jesse Powell, Michael Gronager, Thanh Luu in 2011.
- Who are Kraken's investors?
- Kraken's investors include 1/1 Capital, 10T Fund, alphabet angels, Altari Ventures, Aweh Ventures, Blockchain Capital, Bollinger Investment Group, Cats.vc and 49 more.