Kraken is poised to raise new capital will more than double its valuation to over 10bn US dollars.
Apparently Kraken is negotiating with Fidelity, Tribe Capital and General Atlantic to raise a yet unknown amount of cash. Kraken’s current valuation is 4 billion US dollars.
According to anonymous sources, if the investors’ demand remains high, the company’s valuation may end up rising to the staggering 20 billion US dollars.
This report comes on the heels of news that Kraken users were threatening the company with lawsuits due to a recent flash crash that occurred on February 22nd, when Ether was traded for just 700 USD while on other exchanges its price was over 1300 USD. That, in turn, led to cascading liquidations on Kraken.
Source
I wonder whether that report is a desperate attempt to salvage the situation or they are genuinely doing well.