Overview
- A $200 million secondary purchase announced Tuesday gives Deutsche Börse a 1.5% fully diluted stake in Payward, Kraken’s parent.
- The deal is subject to regulatory approvals and other closing conditions and is expected to complete in the second quarter.
- The expanded tie-up targets regulated crypto trading, custody, settlement, derivatives, and tokenized assets through units such as Clearstream and Eurex.
- Bloomberg’s math puts Kraken’s value near $13.3 billion, and the company has paused IPO plans because crypto markets have weakened.
- Kraken says two insider-related data access incidents and an extortion attempt affected about 2,000 accounts, with core systems intact and client funds safe.