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Fortune
Fortune
Jeff John Roberts

Kraken quietly closes $500M round as its unusual CEO pushes toward the IPO finish line

(Credit: Maeve Reiss for Fortune Brainstorm Tech)

“My neighbors think I’m under house arrest,” observes Arjun Sethi. It’s not hard to see why. On the driveway of Sethi’s comfortable Menlo Park home, located a few miles from Stanford University, sits a black Cybertruck that rarely leaves. Meanwhile, various figures stream in and out of a wide open garage anchored by a table littered with electronics. Inside, there are no pictures on the walls and the domicile’s only personality is supplied by a large German shepherd patrolling the backyard.

Sethi is no criminal, though, and the house is not just his home. It is also the prime outpost for Kraken, the longtime cryptocurrency exchange where Sethi, who draws few lines between his personal and professional life, is co-CEO. The gray-flecked 42-year-old, who favors plain T-shirts, may not be concerned about what his neighbors think of him. But he does have to care about the opinions of another group: Kraken’s investors, who are expecting big things in the near future.

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