<div id="readability-page-1"><div>A special purpose acquisition company (SPAC) linked to the crypto exchange Kraken is exploring potential deals with crypto-native firms valued between $2 billion and $10 billion. The move highlights growing interest from Wall Street in companies connected to digital assets and blockchain infrastructure.KRAK Acquisition Begins Search After $345M IPOThe SPAC, KRAK Acquisition Corp., raised about $345 million in an initial public offering in January. Like other SPACs, the company aims to acquire a private business and take it public through a reverse merger.In 2024, Kraken also raised $800 million in funding, giving the company a valuation of about $20 billion.According to company director Ravi Tanuku, the firm is currently reviewing several potential targets across the crypto industry.KRAK Acquisition is targeting companies valued between $2 billion and $10 billion, including mid-sized and emerging crypto firms.Stablecoins, DeFi, and Tokenization in FocusKRAK Acquisition is focusing on businesses operating in fast-growing sectors of the crypto economy. These include companies working on stablecoins, asset tokenization, decentralized finance (DeFi), and digital payment infrastructure.Tanuku said institutional investors are increasingly recognizing blockchain’s potential impact on global financial markets..He added that Wall Street has shown increasing willingness to support companies working in these areas.SPAC Seen as Strategic Investment ToolAccording to Tanuku, KRAK Acquisition could allow Kraken to build economic partnerships with promising crypto firms while helping them enter public markets.By backing the SPAC, Kraken signals plans to expand its influence across the broader crypto industry. The filing notes assets like Bitcoin are increasingly viewed as inflation hedges by investors.KRAK Acquisition now has two years to complete a deal, a typical deadline for SPAC structures. During that time, it will continue reviewing potential crypto firms that could attract public market investors.</div></div>

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A SPAC linked to Kraken, KRAK Acquisition Corp., is seeking deals with crypto firms valued between $2 billion and $10 billion, following a $345 million IPO. The focus is on stablecoins, DeFi, and digital payment infrastructure, reflecting Wall Street's growing interest in blockchain. Kraken aims to expand its influence in the crypto industry and build partnerships with promising firms. The SPAC has two years to finalize a deal, as institutional investors increasingly recognize the potential of blockchain in financial markets.

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Kraken SPAC Hunts Stablecoin and DeFi Firms Up to $10B