Nasdaq invests $100M in Kraken parent at $21B valuation: Report
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Nasdaq Is Investing $100 Million In Kraken Parent Payward At $21 Billion VALUATION-BLOOMBERG News - Rtrs
TreeNews News, Nasdaq is Investing $100 Million in Kraken Parent Payward at $21 Billion VALUATION-BLOOMBERG News - Rtrs
Nasdaq Invests $100M in Kraken Parent Payward at $21B Valuation
Deutsche Börse's April stake implied a $13.3 billion valuation. Five months on, Nasdaq is paying at $21 billion.
Kraken's parent company wins $22 million arbitration case against auditing firm Mazars.
Odaily that Kraken's parent company, Payward, has won an arbitration against its former auditing firm, Mazars USA, with the arbitrator ruling that Mazars must pay Payward $22 million. Payward is currently seeking confirmation of the arbitration award and a final judgment from the Delaware Court of Chancery. The controversy stemmed from the peak of "Operation Choke Point 2.0" in 2022. Payward claims that Mazars abruptly withdrew from an audit of Kraken that was nearly complete, without finding any problems with the company, but this move damaged Kraken's reputation and forced it to spend years and significant legal fees clarifying its situation. Payward co-CEO Arjun Sethi stated that auditing is not a "gift" for crypto companies, but rather a critical infrastructure for maintaining trust with banks, licenses, counterparties, and regulators. An auditing firm withdrawing without finding anything negative leaves the company unjustly shrouded in suspicion. "Operation Choke Point 2.0" is the crypto industry's term for the regulatory pressure exerted during the Biden administration, referring to the informal pressure exerted by US regulators on banks to restrict services to crypto businesses after the FTX collapse. Sethi stated that the US FDIC sent at least 25 letters to 24 banks, demanding that they suspend or avoid expanding their crypto-related businesses. This ruling is also seen as a legal counterattack by the crypto industry against such regulatory pressure.
Kraken parent Payward partners with SoFi on stablecoin, 24/7 settlement
The deal will bring SoFiUSD to Kraken, connect Payward to SoFi’s 24/7 dollar settlement network and give SoFi access to digital asset liquidity through Kraken Prime.
Kraken Parent Payward Joins Glasswing, Gets Access to Claude Mythos to Hunt Security Flaws
Payward is joining Project Glasswing, Anthropic’s program for giving vetted organizations access to its powerful cybersecurity AI.
Kraken parent Payward revenue rises 17% as trading volume falls in Q2
Payward grew revenue despite weaker crypto spot activity, as funded accounts jumped 42% and a growing share of revenue came from outside transaction-based activity.