In brief
- KRAKacquisition may find a target that’s worth as much as $10 billion.
- The goal is to align a small- or mid-cap company with the crypto exchange.
- The search comes as Kraken contemplates its own public offering.
KRAKacquisition Corp., a special purpose acquisition company formed in January, is searching for a target that could be worth as much as $10 billion, director Ravi Tanuku told Decrypt.
The blank-check firm, sponsored by an affiliate of crypto exchange Kraken, hasn’t determined what that firm could look like, but Tanuku noted that Wall Street’s interest in firms associated with stablecoins and tokenization reached new heights last year.
“The market is clearly paying up for those and starting to realize there’s big…
