Kraken-Linked SPAC Could Target Crypto Firm Valued at Up to $10 Billion

Group 1 - KRAKacquisition Corp. is a special purpose acquisition company (SPAC) seeking a target potentially valued up to $10 billion, with a focus on firms related to stablecoins and tokenization [1][2] - The SPAC completed a $345 million public offering in January, initiating a two-year period to identify an acquisition target [2] - The estimated target valuation may range closer to $2 billion, indicating interest in small- and mid-cap companies in the crypto and payments sectors [3] Group 2 - KRAKacquisition serves as a strategic investment tool for Kraken, potentially aligning another firm with the exchange through a significant stake [4] - The firm’s registration statement highlights concerns about inflation and suggests that the declining purchasing power of the U.S. dollar has increased the appeal of hard assets like Bitcoin [5] - Kraken is also considering its own public offering, having filed a registration statement with the SEC and recently raised $800 million, valuing the exchange at $20 billion [3]