According to the source, a social media post claims Kraken raised $500M at a $15B valuation and suggests IPO speculation for 2026, source: social media post dated Sep 26, 2025. Because the post does not cite an official filing or press release, traders should wait for confirmation via Kraken’s official blog or a U.S. SEC EDGAR filing before repricing exchange‑exposed assets, sources: Kraken official blog and press page; U.S. SEC EDGAR. If later confirmed by an official disclosure, additional exchange capital and an IPO pipeline typically point to expansion in exchange infrastructure revenues that traders benchmark against comps like COIN and sector liquidity for BTC and ETH, sources: Coinbase SEC filings (Form 10-Q/10-K) on exchange revenue mix; U.S. SEC investor guidance on IPO processes.