Crypto exchange Kraken said on Tuesday it was valued at $20 billion following its latest fundraise, a 33% jump in less than two months, as digital asset firms continue to draw strong investor interest.

The $800 million dual-tranche round comes amid a crypto-friendly regulatory stance under U.S. President Donald Trump, which has encouraged digital-asset companies to expand in the U.S. with promises of clearer rules.

Rivals including Gemini, Coinbase and Ripple have also benefited from lighter oversight under Trump, who, along with members of his family, has been an active participant in the still-nascent sector.

The primary tranche of Kraken’s funding round was led by institutional investors such as Jane Street, HSG, Oppenheimer Alternative Investment Management and Tribe Capital, which was co-founded by Kraken co-CEO Arjun Sethi.