The 50 Most Interesting Companies In Bitcoin's History: 9/50
Kraken
The Idea: Powell consulted for Mt. Gox after a 2011 hack and was alarmed by its security flaws. He decided to build an exchange from scratch with security as the foundation. Launched publicly in September 2013.
Early Traction: Kraken was the 'anti-Mt. Gox' - security-first, no-nonsense. It was selected as a partner to help facilitate Mt. Gox's bankruptcy proceedings.
Peak Stats: Top 5 exchange globally by volume. $20B valuation as of 2026.
Status Today: Active. Exploring IPO. Arjun Sethi (Tribe Capital) joined as co-CEO in October 2024.
Why It Matters:
Kraken remains one of the largest bitcoin exchanges. It ran for a decade on $27M before raising massive rounds. Powell's security focus, born from witnessing Mt. Gox's failures firsthand, proved prescient.