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Shiba Inu Volume Suddenly up 26,691% on Kraken, Here's Likely Reason
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Shiba Inu Volume Suddenly up 26,691% on Kraken, Here’s Likely Reason

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Shiba Inu has seen a sudden hourly volume surge on Kraken, rising +26,691.75%. According to CoinGlass data, the SHIBUSDT spot trading pair on Kraken saw a 26,691% volume surge in the last hour to come in at $58,690.

While the reason for the spike remains unknown, there are a few likely reasons. A surge in trading volume most often reflects traders’ positioning.

Shiba Inu has seen a price surge in recent hours, posting a large “marubozu candle” at one point on its hourly chart, which took its price from $0.00001186 to $0.00001223.

The Marubozu candlestick pattern represents one that has no shadows, indicating high market pressure. It indicates that the price traded in one strong direction.

A green marubozu candlestick in the case of Shiba Inu suggests strong buying pressure accompanied by a major increase in trading volumes.

In the last 24 hours, Shiba Inu’s total spot trading volume has increased to $206.09 million, according to CoinMarketCap data.

12,733,930,024 SHIB shorts liquidated in positive October start

At press time, SHIB was up 4.9% in the last 24 hours to $0.00001231, marking a positive start to October.

Shiba Inu fell for two straight days at September’s close to hit a low of $0.00001155 on Sept. 30. The first day of October saw a significant SHIB price rise from $0.00001176 to $0.00001236. The price move caught shorts or traders betting on a further SHIB price drop unawares, leading to significant short liquidation.

According to CoinGlass data, 12,733,930,024 SHIB  short positions have been liquidated in the last 24 hours. This accounts for the majority, or $156,500 out of the total liquidation figure of $173,210, in the past day.



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Kraken In Investment Talks, Targeting $20B Valuation Ahead of IPO: Report

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto exchange Kraken is reportedly in talks with a strategic investor to raise capital that pushes its valuation to $20 billion ahead of a potential initial public offering (IPO). This development comes amid the crypto firms’ IPO frenzy in the US under a rather supportive administration of President Donald Trump.

Kraken Stays Focused, Follows $500M Raise With New Funding 

On Friday, Bloomberg reported that Kraken has begun advanced negotiations to boost its value to $20 billion as part of fundraising efforts in view of a planned IPO. Impressively, this move follows a recent $500 million raise, which took Kraken’s valuation to $15 billion.

Bloomberg first reported on Kraken’s IPO valuation in March 2025, stating the exchange was targeting a public listing in the first quarter of 2026. Beyond capital raising, the US-based trading platform has displayed other behaviors seen in IPO preparation, such as financial statement disclosure. 

Furthermore, Kraken has also expanded its product line beyond digital asset trading to include access to stocks and exchange-traded funds. While the reported funding talks remain in progress. Bloomberg expects a $200 to $300 million commitment according to sources familiar with the matter, allowing Kraken to potentially reach its target $20 billion valuation ahead of 2026. 

The media house also reports that the crypto exchange has engaged the advisory services of Morgan Stanley and Goldman Sachs Group Inc. in regard to this planned IPO. Kraken is now expected to soon file an S-1 registration statement with the US Securities and Exchange Commission, as expected of any entity aiming to launch a public offering.

Crypto IPO Frenzy Continues 

Kraken joins a growing list of crypto/blockchain firms seeking public funding. In 2025 alone, four other companies, namely USDC issuer Circle, blockchain lender Figure, and exchanges Bullish and Gemini, have successfully launched IPOs, indicating a significant step-up in wider investors’ interest in digital asset-focused firms. 

This public market approach is widely buoyed by the pro-crypto policies of Trump. Notably, the Republican has upheld promises of creating a friendly regulatory environment for digital assets operations, as indicated by strategy changes by regulators, including the SEC and CFTC.

The 47th US President has also popularly established a Federal Bitcoin Reserve, prompting similar actions from state governments. In terms of regulations, Trump also famously signed the GENIUS Act into law, creating a regulatory framework for stablecoin issuance, operations, and use. 

At press time, the total crypto market cap is valued at $3.73 trillion following the market crash seen in the last week. Notably, there has been a slight recovery of 1.11% in the past 24 hours.

Total crypto market cap valued at $3.73 trillion on the daily chart | Source: TOTAL chart on Tradingview.com

Featured image from Flickr, chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Kraken Secures $500 Million In Latest Funding Round, Boosting Valuation To $15B

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

US-based cryptocurrency exchange Kraken, has successfully closed a $500 million funding round, achieving a valuation of $15 billion, as reported by Fortune. This significant milestone comes as the company gears up for its anticipated initial public offering (IPO), which is expected to take place next year.

Kraken’s Valuation Rises To $15 Billion

In July, The Information reported on Kraken’s intentions to raise this substantial amount, and recent updates confirm that the funding round was finalized this month without a primary investor. 

Instead, Kraken set the terms of the deal, including the valuation figure. Among the contributors to this funding round were various investment managers and venture capitalists, notably including the exchange co-CEO Arjun Sethi’s Tribe Capital, as well as Sethi himself in a personal capacity.

This latest valuation marks a notable increase from the $11 billion the exchange reached in 2022, when it raised an undisclosed sum. Kraken has demonstrated strong financial performance in recent years, reporting $1.5 billion in revenue for 2024, with an additional $472 million generated in the first quarter of 2025. 

Currently, the exchange handles an impressive daily trading volume of $1.37 billion, making it the second largest in the United States after Coinbase (COIN), which already went public back in April, 2021. 

Crypto IPO Boom

The crypto landscape has experienced a notable shift this year, as investor sentiment has evolved from a period of exuberance in 2021 to a more cautious approach. 

However, the appetite for public offerings among crypto firms has resurged, driven by favorable regulatory developments. This shift has sparked a wave of IPO activity in the cryptocurrency sector with Circle (CRLC), and Bullish (BLSH), capitalizing on the rising interest toward crypto stocks.

In addition to its funding success, Kraken is aggressively expanding its services beyond traditional cryptocurrencies. The company has ventured into tokenized stocks, positioning itself at the forefront of this emerging market. 

Furthermore, it recently acquired the US-regulated retail futures trading platform NinjaTrader for $1.5 billion, with plans to extend its reach into the UK, Europe, and Australia.

Earlier in the year, Kraken also acquired a Cyprus-based company to secure a Markets in Financial Instruments Directive (MiFID) license, enabling it to offer derivatives across the European Economic Area (EEA). 

On the political front, Kraken has committed to donating $2 million to two pro-crypto political action committees (PACs), reinforcing its dedication to advocating for privacy and innovation rights in the United States. 

Co-CEO Arjun Sethi emphasized the ongoing battle for the future of cryptocurrency in the US, noting a significant shift in the political climate from “fear to understanding” throughout 2025.

The daily chart shows the total crypto market capitalization currently at $3.7 trillion. Source: TOTAL on TradingView.com

Featured image from Bloomberg, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Kraken Raises $500M at $15B Valuation Amid Rising IPO Buzz: Report
Crypto Trends

Kraken Raises $500M at $15B Valuation Amid Rising IPO Buzz: Report

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Kraken has reportedly raised $500 million at a $15 billion valuation, strengthening its financial position amid growing speculation that the cryptocurrency exchange is preparing for an initial public offering (IPO).

The funding was first reported by Fortune, which cited a source close to the negotiations in a profile on co-CEO Arjun Sethi. The source claimed that Kraken closed the round earlier this month.

When contacted by Cointelegraph for confirmation, a Kraken representative declined to comment.

The raise and valuation are broadly in line with Cointelegraph’s reporting in July, which revealed that Kraken was seeking $500 million at a $15 billion valuation — a move widely interpreted as a step toward IPO readiness.

Source: Cointelegraph

While Kraken has not filed any regulatory paperwork for a public listing, several of its actions appear consistent with IPO preparation, including enhancing financial disclosures. However, the company has yet to submit an S-1 registration statement to the US Securities and Exchange Commission (SEC), a necessary step for any US public offering.

Founded in 2011 and launched in 2013, Kraken is one of the industry’s oldest operating exchanges. It processed roughly $1.9 billion in trading volume over the past 24 hours, ranking among the top 15 global crypto exchanges, according to CoinMarketCap.

Related: Ether supply on exchanges hits 9-year low amid ‘Wall Street glow up’

Crypto IPO mania grows

Kraken’s reported interest in a public offering comes amid a wave of crypto firms heading to public markets with remarkable success.

Gemini, the exchange founded by Cameron and Tyler Winklevoss, was over 20 times oversubscribed in its Nasdaq debut, raising $425 million. Since going public earlier this month, its market capitalization has swelled to over $2.8 billion.

Source: Cointelegraph

Circle, the issuer of USDC (USDC), completed a billion-dollar IPO in June, with shares surging 167% on opening day. The company now commands a valuation of roughly $31.4 billion.

Figure Technology Solutions, a blockchain-based lender, also staged a blockbuster debut. Its shares jumped over 20% when trading began in September, lifting its market cap above $8.4 billion.

Meanwhile, BitGo, a leading crypto custodian with over $90 billion in assets, has filed S-1 registration documents with the SEC as it seeks to list its Class A common stock on the New York Stock Exchange.

The IPO rush comes amid a backdrop of favorable regulatory developments in the United States, including the passage of the GENIUS stablecoin bill and progress on market structure and anti-CBDC legislation, which together have provided greater clarity for the digital asset industry.

Related: US lawmakers challenge SEC on Tron IPO, press for probe into Justin Sun



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Crypto Trends

Kraken Raises $500M in Funding Round Valuing Crypto Exchange at $15B: Fortune

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Popular cryptocurrency exchange Kraken closed a $500 million funding round, setting the stage for a long-awaited IPO now expected in 2026, Fortune reported.

The round did not feature a lead investor and was closed on Kraken’s terms valuing the firm at $15 billion, Fortune said, citing a person who was not authorized to discuss the matter publicly. Backers included investment managers, venture capitalists and Kraken co-CEO Arjun Sethi, who also participated via his Tribe Capital investment firm.

Founded in 2011, Kraken had reportedly raised only $27 million in venture capital funding until this year. It generated $411 million in revenue and nearly $80 million in post-Ebitda earnings in the second quarter, according to the report.

Much of Kraken’s transformation over the last year has been steered by Sethi, who, despite sharing the CEO title with Dave Ripley, is widely seen as the company’s strategic leader.

Under him, Kraken acquired U.S. futures platform NinjaTrader for $1.5 billion, expanding its customer base by 2 million and bolstering its presence in traditional finance.

Behind the scenes, Kraken has seen a wave of executive turnover, with four senior executives recently leaving the company as it trims jobs ahead of the planned initial public offering.



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NFT Gaming

Kraken secures $500M funding at $15B valuation ahead of IPO

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Kraken has secured fresh funding at a $15 billion valuation, boosting its war chest as it eyes a 2026 initial public offering.

Summary

  • Kraken raised $500M at a $15B valuation with Tribe Capital backing.
  • The exchange reported strong revenue growth in H1 2025, nearly double 2024.
  • IPO plans have been pushed to 2026 as Kraken expands into tokenized assets.

According to a Sept. 25 Fortune report, the round closed this month without a single lead investor, with Kraken itself setting the terms. Participants included investment managers, venture capitalists, and CEO Arjun Sethi’s Tribe Capital, as well as Sethi in a personal capacity.

The exchange, founded in 2011, has now raised over $527 million in total funding, following its initial $27 million investment.

Kraken’s strong financials amid IPO delay

The funding round comes as Kraken prepares for a public listing, now expected in 2026. Investors were drawn to the company’s steady profitability. It reported $411 million in revenue and nearly $80 million in post-EBITDA earnings in the second quarter.

Kraken’s valuation places it among the industry’s most valuable private exchanges, second only to Coinbase. The firm has been expanding through acquisitions, including the $1.5 billion purchase of NinjaTrader earlier this year, which added two million customers. It has also rolled out new products such as tokenized stocks, or “xStocks,” aimed at bridging crypto with traditional markets.

Leadership and strategy

Since cofounder Jesse Powell left his position as CEO of Kraken in 2022, Sethi has played a key role in leading the company. The co-founder of Tribe Capital and venture capitalist has stressed the importance of establishing Kraken as a center for tokenized assets and institutional trading.

Under his direction, Kraken has entered the retail market and increased the scope of its institutional offerings, such as advanced APIs and derivatives. But the shift has also been accompanied by executive turnover and internal restructuring, which have sparked worries about morale and management style.

Market backdrop

Kraken’s funding comes amid a resurgence of cryptocurrency IPOs, with Circle, Gemini, and Bullish having already listed this year. The company’s choice to hold off until 2026, however, raises questions because a change in the market cycle could reduce investor interest in cryptocurrency stocks.

Analysts note that Kraken’s established reputation and diversified revenue sources put it in a stronger position than many of its rivals to weather volatility. The $500 million round shows that investors remain confident as the exchange prepares for its next phase of growth.



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Crypto Exchange Giant Kraken Wraps Up $500 Million Funding Round
Crypto Trends

Crypto Exchange Giant Kraken Wraps Up $500 Million Funding Round

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  • IPO plans 
  • Unconventional CEO

According to a recent report by Fortune, cryptocurrency exchange Kraken has closed a massive $500 million funding round at a staggering $15 billion valuation. 

To put this massive raise into perspective, it is worth noting that the exchange raised only $27 million in venture capital funding during its first decade. 

IPO plans 

Kraken has been considering going public for roughly five years. Then-CEO Jesse Powell first divulged the company’s IPO plans in 2021 during a major bull run. 

However, Kraken’s plans to go public were likely postponed due to the cryptocurrency winter that came in 2022. 

In March, Bloomberg reported that Kraken was planning to go public in 2026. This was followed by the company’s acquisition of futures trading platform NinjaTrader. 

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As reported by U.Today, the cryptocurrency industry is currently experiencing an IPO boom, with such major names as Circle and Gemini all going public. 

Kraken is facing increasing pressure to go public in the near future since its valuation risks taking a significant hit if its cryptocurrency prices tank in 2026. However, it is worth noting that the company still has rather strong fundamentals. 

Unconventional CEO

Co-CEO Arjun Sethi is currently spearheading the exchange in a rather unorthodox way. 

Sethi operates one of the world’s largest exchanges out of his home in Menlo Park, combining business with his personal life.

He is primarily focused on merging crypto with traditional finance, with Kraken’s recent tokenization efforts being part of this push. 

With xStocks, which are tokenized versions of US equities, Kraken aims to increase its appeal for retail traders. 



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NFT Gaming

Kraken preps for crypto ‘fight’ as US economy hits sour note

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Crypto firms are jockeying for a political presence, and Kraken is one of them. Co-CEO Arjun Sethi announced Wednesday that the exchange has committed $2 million to two crypto-aligned political action committees.

Summary

  • Kraken is doubling down on political influence, pledging $2 million to pro-crypto PACs—the Freedom Fund and America First Digital.
  • While the exchange frames the move as a fight for digital freedom, both PACs largely support Republican candidates and Trump.
  • The donations come amid a booming crypto market, now up 45% since January. Most Americans fear the rest of Trump’s economy is on the wrong track, a Reuters/Ipsos poll shows.

Kraken will give $1 million to the Freedom Fund PAC and $1 million to the America First Digital (A1stDigital) PAC.

The fight for crypto in the United States is far from over.

That is why Kraken is donating $1 million to @FreedomFundPAC and increasing our 2025 commitment to @a1stdigital to $1 million.

Congress has made real progress. Market structure bills are advancing. The tone in…

— Arjun Sethi (@arjunsethi) September 23, 2025

According to the company, these types of donations are crucial to defend “core individual rights in the digital age.”

“We are not backing a party,” Sethi said, yet both PACs are explicitly aligned with the Republican Party and support President Donald Trump’s political initiatives.

“We are not backing a party. We are backing principles,” said Kraken co-CEO Arjun Sethi, mentioning self-custody, permissionless decentralized systems, freedom from surveilance in finance, and open infrastructure. “We will keep defending the right to own, move, and build with crypto in the United States,” he added.

While Sethi praised recent progress in Congress, he argues that core crypto freedoms remain at risk.

Regulatory overreach and bans on privacy tools, he says, are still an issue.

Crypto PACs build $140 million midterm war chest

Recall last October when the crypto industry spent $160 million on lobbying efforts.

The money helped. Since Inauguration Day, the crypto industry has enjoyed loose regulations and at least two White House-hosted parties. There was the March 2025 Digital Asset Summit, featuring major crypto firms to discuss a U.S. Strategic Bitcoin Reserve, as well as a May 2025 event for 220 top holders of the TRUMP meme coin.

Both events drew attention to the Trump administration’s engagement with crypto, while also raising ethical concerns over potential conflicts of interest.

However, with the 2026 midterm elections approaching, the industry hopes to cement its gains by doubling down on political spending.

So far, crypto PACs have amassed $140 million in contributions from key industry players. These funds will go to candidates who support a pro-crypto agenda. In many cases, these candidates lean Republican, with Trump himself supporting the agenda.

It’s worth noting that the most significant piece of pro-crypto legislation, the GENIUS Act, was a bipartisan effort. Senator Bill Hagerty introduced the bill, which establishes a regulatory framework for payment stablecoins in the U.S. It passed the Senate 68–30 and the House 308–122, with support from both parties, and was signed into law by Trump on July 18.

Still, Kraken wants more.

“The fight for crypto in the United States is far from over,” Sethi said.

Kraken’s donations come as Trump’s most recent approval rating among Americans falls to just 41%.

Approximately 54% of those polled believe the economy is headed in the wrong direction, up from previous months, according to a Reuters/Ipsos poll.

Since January, the cryptocurrency industry has experienced significant growth, with the global market capitalization increasing from approximately $2.76 trillion in April to over $4 trillion by September.

That’s a spike of around 45% in just eight months.





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Kraken Donates $1M to Pro-Trump PAC to Support Crypto Privacy Rights

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In brief

  • Kraken co-CEO Arjun Sethi announced $1 million donation to the Digital Freedom Fund PAC and increased the commitment to America First Digital to $1 million.
  • Arjun Sethi said crypto embodies “the right to self-determination” and warned of “attempts to criminalize infrastructure.”
  • Winklevoss twins previously donated over $21 million in Bitcoin to launch the explicitly pro-Republican Digital Freedom Fund PAC.

Crypto exchange Kraken said Tuesday it will donate $2 million to a pro-Trump crypto group as the platform mobilizes in “a fight for the core rights of individuals in a digital age.”

Kraken co-CEO Arjun Sethi announced a $1 million donation to the Freedom Fund PAC and said the company would also raise its 2025 commitment to the pro-Trump group America First Digital to $1 million.

“The fight for crypto in the United States is far from over,” Sethi tweeted Tuesday.

He warned crypto’s foundational principles face threats from “regulatory uncertainty,” “enforcement by headline,” “attempts to criminalize infrastructure,” and “bans on privacy tools,” calling these “constitutional questions about how financial freedom fits into a free society.”



Sethi tied Bitcoin’s origins to “a peaceful revolution” and noted how that crypto’s ideals are “the right to self-determination” and “extensions of the Bill of Rights, rendered in code.”

America First Digital is led by Jason Thielman, former executive director of the National Republican Senatorial Committee, and senior advisor Kristin Walker, a former chief of staff to Senator Cynthia Lummis, who reintroduced the BITCOIN Act in March to authorize $80 billion in Bitcoin purchases for a strategic reserve.

“By explicitly tying campaign financing to the ideals of ‘financial freedom,’ crypto leaders are no longer content with defensive lobbying,” Raj Kapoor, founder and CEO of the India Blockchain Alliance, told Decrypt. “They are moving into ideological territory, aligning digital assets with constitutional values.”

Federal authorities have recently targeted the founders of Bitcoin mixer Samourai Wallet and Ethereum privacy protocol Tornado Cash, with developers facing criminal charges for allegedly facilitating money laundering.

With the donation, Sethi said Kraken backs the right to “self-custody” assets, building decentralized systems “without permission,” opting out of “surveillance-based finance,” and accessing “open, composable infrastructure.”

The announcement drew immediate support from crypto industry figures, including Gemini co-founder Tyler Winklevoss, who welcomed Kraken’s participation.

It was the Winklevoss twins who contributed over $21 million in Bitcoin last month to launch the Digital Freedom Fund.

Unlike other crypto PACs that maintain nonpartisan facades, Cameron and Tyler Winklevoss explicitly stated their PAC will work to support Republicans, defeat Democrats, and advance Trump’s crypto agenda in the 2026 midterms.

Meanwhile, Fairshake, crypto’s largest super PAC, raised nearly $300 million in 2024 from Coinbase, Ripple, and Andreessen Horowitz, spending across both parties to keep digital assets from becoming a partisan wedge issue.

“Such political donations are common in the U.S., and these funds are expected to increase industry influence, as crypto leaders push for more pro-friendly policies from the current administration,” Sudhakar Lakshmanaraja, founder of blockchain education platform Digital South Trust, told Decrypt. 

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Shiba Inu Rockets 560% in Volumes on Kraken, Hidden Price Signal?
NFT Gaming

Shiba Inu Rockets 560% in Volumes on Kraken, Hidden Price Signal?

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Shiba Inu, in particular the SHIB/USD pair, has seen a 560% increase in spot trading volume on Kraken within a one-hour period.

The SHIB/USD pair on Kraken recorded $14,690 in hourly activity, marking a 560% increase in trading volume.

More often than not, a surge in volume might reflect traders’ positioning, with the broader market largely trading in red in the early Saturday session.

Shiba Inu wasn’t exempt from the drop, trading down 1.16% in the last 24 hours to $0.0000129 and down 10.84% weekly.

While Shiba Inu’s hourly volume surged 560%, the same could not be said of its total spot trading volume across crypto exchanges. In the last 24 hours, Shiba Inu’s total trading volume came in at $166.92 million, a 23.35% drop from the past day, according to CoinMarketCap data.

Hidden price signal?

Shiba Inu’s funding rate has flipped positive, coinciding with the hourly volume surge on Kraken.

According to CoinGlass data, Shiba Inu’s funding rate is in the green at 0.0018%. A positive funding rate in crypto derivatives indicates the perpetual futures contract price is trading above the underlying spot price, a sign of bullish market sentiment (as more traders believe the price might rise) and high leverage on long positions.

Shiba Inu saw a significant drop in Friday’s session, plunging from $0.00001356 to $0.00001279, extending its fall from Sept. 18’s high of $0.0000136.

Shiba Inu hit a low of $0.00001278 near the daily SMA 50 in Saturday’s session, from where it rebounded as buyers purchased the dip. Its rebound stopped at $0.000013, with further buying pressure required from the crypto market to push its price higher.



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