According to a recent email sent out to “valued clients,” Kraken has revealed that is looking to build a “war chest” of capital to fuel a seemingly aggressive M&A strategy to take advantage of depressed valuations caused by the 2018 bear market.
Interesting, got this in the mail this morning.
If Coinbase is worth $8b, I guess Kraken coming in at $4b seems fair…?
War chests for the bear market..
Could we get some more ShitCoins to short @krakenfx
— – adidog CEO – [Jan/3 ?] (@MannerCookie) December 11, 2018
“There is presently a limited time opportunity available to a very small, select number of clients to purchase Kraken shares” at a $4 billion valuation with a $100,000 minimum, Kraken’s CEO, Jesse Powell, recently told CoinDesk.
The $4 billion round places Kraken at half the valuation of Coinbase, which recently closed a $300 million investment round at an $8 billion valuation from multiple investors including Chase Coleman’s Tiger Global.
Kraken is a highly-regarded exchange and was recently recognized as the second leading platform in terms of security, coming in behind Coinbase Pro.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.