Kraken-Linked SPAC Evaluates Crypto Acquisitions Valued at $2B to $10B

KRAKacquisition Corp., a special purpose acquisition company sponsored by a Kraken affiliate, is evaluating potential acquisitions of crypto-native firms valued between $2 billion and $10 billion, director Ravi Tanuku told Decrypt. The SPAC, formed in January, raised $345 million in a public offering and has a two-year window to identify a target, with opportunities spanning stablecoins, DeFi and payments. Separately, Kraken confidentially filed for an IPO with the SEC last November following an $800 million fundraise that valued the exchange at $20 billion.