Group 1 - KRAKacquisition Corp., a SPAC backed by Kraken, has filed for a $250 million IPO, aiming to enhance its presence in public markets targeting digital asset businesses [1][5] - The SPAC plans to list on the Nasdaq under the ticker symbol "KRAQU" and will offer 25 million units priced at $10 each, with each unit consisting of one Class A ordinary share and a warrant for additional shares [1][2] - The focus of KRAKacquisition Corp. will be on companies within the cryptocurrency ecosystem, including trading, payments, and infrastructure services [2][3] Group 2 - The SPAC structure allows Kraken to bring crypto-focused companies to public markets without a traditional IPO, providing a strategic advantage amid growing competition among exchanges [3][6] - Kraken is also moving towards its own IPO, having submitted confidential paperwork and raised $800 million in a funding round that valued the firm at $20 billion [5] - The naming of KRAKacquisition suggests a connection to Kraken's internal payments product, indicating strong ties between the SPAC and its sponsor [6]

Kraken unveiled a Bitcoin rewards Mastercard debit card that links to its peer-to-peer payments app, Krak. https://t.co/muKBpSCHpO ...

RT Krak (@Krak)Krak usage after this interview ⬆️ https://t.co/225vCTYLZz ...

Regulatory & Legal Developments - Judge Torres denies Ripple and SEC's motion to amend final judgment, potentially impacting a $50 million settlement and institutional XRP sales [1] - Hong Kong launches Policy 2.0 with LEAP to boost tokenization and stablecoins [1] Fundraising & Investment - Bakkt files to raise $1 billion via shelf offering, potentially using proceeds to buy Bitcoin [2] - Trump's company World Liberty Financial secures a $100 million investment from a UAE-based fund [2] Market & Trading Activity - Coinbase stock COIN jumps 3.6%, reaching its highest level since going public in 2021 [2] New Products & Services - Kraken launches Krak, a P2P payment app for fee-free transfers across 160+ countries and 300+ assets [2] - Bitwise files amended S-1s for spot Dogecoin and spot Aptos ETFs [2] - Ripple integrates Wormhole to connect XRP Ledger and its EVM sidechain to 35+ blockchains [2] International Trade - The European Union is ready to make a trade deal with the US [2] - President Trump announces he has officially signed a trade deal with China [2]

Product Launch - Kraken launches Krak, a P2P payment app [1] Key Features - Fee-free transfers across 160+ countries [1] - Supports over 300 assets [1]

Market Trends - Crypto exchange Kraken launched Krak, a peer-to-peer payments app to compete with CashApp and Venmo [1]