KRAKacquisition Corp., a SPAC backed by crypto exchange Kraken, is exploring a potential acquisition in the cryptocurrency sector valued at up to $10 billion. The company is focusing on targets within stablecoins, DeFi, tokenization, and digital payments. KRAKacquisition raised $345 million in its Nasdaq IPO, surpassing its initial target of $250 million. Director Ravi Tanuku noted that the $10 billion figure is an estimate, with potential targets possibly valued closer to $2 billion. The SPAC aims to support small- and mid-sized crypto companies in accessing public markets, leveraging Wall Street's growing interest in stablecoin and tokenization businesses. KRAKacquisition's units began trading on Nasdaq under the ticker KRAQU, following its IPO in January 2026.