Kraken has successfully raised $800 million in a funding round that values the cryptocurrency exchange at $20 billion. The round was led by Tribe Capital and Citadel Securities, marking one of the largest funding rounds in the current crypto cycle. Co-CEO Arjun Sethi highlighted the firm's strategic resilience during the 2022 market downturn as a key factor in its success. Despite being shortlisted, Kraken was ultimately rejected in its bid for the FTX 2.0 restart tender by bankruptcy lawyers. Sethi emphasized the company's long-term investment strategy as a cornerstone of its growth and stability in the volatile crypto market.