Kraken raised nearly $7 mln in less than a day

Kraken raised nearly $7 mln in less than a day

Kraken, one of the biggest US crypto exchanges raised nearly 7 million USD in the first day of its fundraising campaign.

The crypto exchange offered preferred shares to accredited investors through the Cayman Islands based investment platform BnkToTheFuture.

Currently any registered Kraken user will be able to buy company shares for a minimum of 1000 USD until June 20th.

“We are always looking for ways to democratize access to our equity, allowing more of our valued clients to become valued investors. To that end, we partnered with @BankToTheFuture to create an opportunity to invest in Kraken”, the exchange said in a statement posted on Twitter.

The accumulated amount surpassed the minimum investment goal of 6,2 million USD in less then a day.

Initially the company aimed to raise 10,18 million USD for the campaign as a whole, but because of the increased interest the raised amount might end up much higher.

Up to now more then 330 investors have participated in the sale.

In another fund raising campaign, last year, Kraken targeted richer investors with a minimum investment step of 100 000 USD.

Kraken, one of the oldest crypto currency exchanges on the market, with trades surpassing 85 billion USD for 2018 alone, is valued at more then 4 billion USD.

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