The post Crypto News: Kraken-Backed KRAKacquisition SPAC Looks for $10B Acquisition appeared on BitcoinEthereumNews.com.

Key Insights: Kraken-linked KRAKacquisition Corp. is exploring a potential crypto acquisition worth up to $10 billion. The SPAC is targeting companies in stablecoins, DeFi, tokenization, and digital payments. The firm raised $345M in its Nasdaq IPO, backed by crypto exchange Kraken. In today’s crypto news, Kraken’s SPAC partner KRAKacquisition Corp. has announced its potential acquisition target. The SPAC is currently searching for targets that could be worth a massive $10 billion. The focus of acquisition reportedly includes stablecoins, DeFi, and tokenization. Kraken’s SPAC Partners Explores Major Crypto Deals According to the latest crypto news, Kraken-backed SPAC known as KRAKacquisition Corp. is currently exploring a $10 billion acquisition deal. The company’s director, Ravi Tanuku, added that the $10 billion figure is only an estimate. This indicates that the firm may ultimately pursue a company valued closer to $2 billion. Although the company hasn’t yet decided which platform it will acquire, reports say the targets include stablecoins, DeFi, and tokenization. “We’re looking at things that are related to crypto, but also things related to stablecoins, DeFi, and all kinds of areas in payments,” stated Tanuku. According to director Ravi Tanuku, the company’s current focus has been driven by Wall Street’s growing interest in stablecoin and tokenization businesses. He stated, “The market is clearly paying up for those and starting to realize there’s big changes afoot. In our mind, that’s a good signal to be aware of.” Kraken-backed SPAC is also expected to focus on companies that may benefit from easier access to the public markets. Through a potential merger, the firm aims to support small- and mid-sized crypto-related companies that may otherwise face challenges going public. Backed by crypto exchange Kraken, the SPAC could help these businesses gain visibility, funding, and long-term growth opportunities within the evolving digital asset industry. KRAKacquisition Corp.…

---

Filed under: News - @ March 19, 2026 12:27 pm