Kraken-linked SPAC KRAKacquisition seeks acquisition targets, valuation up to $10 billion

Chainthink

Release Time: 03/14/2026 02:40:45

Summary

Kraken-linked SPAC KRAK Acquisition is actively seeking acquisition targets, with a potential valuation of up to $10 billion. Director Ravi Tanuku said the firm is evaluating crypto-native businesses in stablecoins, DeFi, and crypto payments. The SPAC closed a $345 million IPO in January and has two years to complete a merger. A $2 billion valuation is also possible. Kraken is also considering a public listing, having reached a $20 billion valuation in its latest funding round. Recent crypto market updates show increasing activity in DeFi and merger opportunities. A major DeFi exploit earlier this year underscored the sector’s risks and potential for consolidation.

ChainThink reports that on March 14, KRAKacquisition Corp., the special purpose acquisition company (SPAC) affiliated with the cryptocurrency exchange Kraken, is seeking potential acquisition targets, with target companies valued up to $10 billion.

Ravi Tanuku, a director of the company, said that KRAKacquisition is actively evaluating crypto-native businesses, with a particular focus on stablecoins, DeFi, and crypto payments, aiming to help mid- and small-cap companies enter the public market through reverse mergers.

KRAKacquisition completed a $345 million IPO in January and has two years to find a merger target. Tanuku noted that the final target company's valuation could also be closer to $2 billion.

As this plan is announced, Kraken is also considering an IPO this year, following a $800 million funding round that valued the company at $20 billion.

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