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BTC $78,235.27 -1.08%
ETH $2,180.94 -1.76%
BNB $656.39 -2.43%
XRP $1.41 -1.42%
SOL $86.65 -2.91%
TRX $0.3543 +0.76%
DOGE $0.1095 -3.21%
ADA $0.2549 -2.34%
BCH $417.49 -1.84%
LINK $9.74 -3.08%
HYPE $41.94 -5.07%
AAVE $90.32 -2.63%
SUI $1.06 -2.81%
XLM $0.1516 -1.74%
ZEC $510.50 -1.23%

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Kraken's parent company Payward is seeking new financing at a valuation of $20 billion to accelerate mergers and acquisitions and advance IPO preparations

According to informed sources, Payward, the parent company of the cryptocurrency platform Kraken, is conducting a new round of capital financing at a valuation of $20 billion, to which Kraken declined to comment.The company has recently significantly increased its merger and acquisition spending—acquiring the stablecoin-focused payment company Reap for $600 million and the digital asset derivatives platform Bitnomial for $550 million, both transactions conducted at a $20 billion valuation.Its largest transaction was the $1.5 billion acquisition of the U.S. retail futures platform and CFTC-registered futures commission merchant NinjaTrader in 2025, which provided Kraken with a significant foothold in the U.S. derivatives market.Regarding IPO progress, Payward secretly submitted an S-1 registration statement draft to the U.S. SEC on November 19, 2025. Although reports in March 2026 indicated that the company paused its IPO plans due to unfavorable market conditions, sources stated that the company still intends to go public, but may wait for market improvements.At last week's Consensus conference in Miami, Payward co-CEO Arjun Sethi stated that the trading platform is "80% ready" for an IPO.Additionally, Deutsche Börse (DB1) purchased approximately 1.5% of Payward's shares for $200 million through a secondary share sale in April 2026, valuing Payward at $13.3 billion (lower than the previous financing round's valuation of about $20 billion).In November 2025, Kraken completed an $800 million financing in two tranches to push traditional financial products onto the blockchain, with investors including Jane Street, DRW Venture Capital, and Tribe Capital. Subsequently, Citadel Securities also made a strategic investment of $200 million at a $20 billion valuation.

Paradigm partners release PACTs proposal, allowing holders from the Satoshi era to prove control without moving BTC

Concerns about quantum computing in Bitcoin always revolve around a "Satoshi-related problem." If a sufficiently powerful quantum computer emerges, millions of Bitcoins stored in old wallets with exposed public keys may face the risk of being stolen, including approximately 1.1 million Bitcoins that are allegedly owned by the anonymous creator Satoshi, currently valued at about $84 billion.Senior developer Jameson Lopp and five other developers formally proposed this plan through BIP-361 in mid-April, which aims to gradually phase out addresses vulnerable to quantum attacks over a five-year timeline and freeze any coins that fail to complete the migration. However, this proposal creates another issue: Satoshi and all other long-dormant holders would have to publicly "reveal themselves," or risk losing access to their assets.Dan Robinson, a general partner at Paradigm, released a proposal on Friday that suggests a way to circumvent this trade-off, with the core concept being "Provable Address Control Time Stamps" (PACTs). The main idea of PACTs is not to move coins, but to timestamp ownership proofs on specific dates, without disclosing any information externally until the wallet owner truly needs to spend.If Bitcoin later implements a soft fork to freeze coins vulnerable to quantum attacks, the protocol could include a rescue path that accepts STARK proofs (a type of zero-knowledge proof that remains secure against quantum computers), proving that the holder created their commitment before the existence of quantum hardware. When the holder wishes to spend, they submit this proof, and the network releases the corresponding coins. This redemption process will not reveal any information about the address, amount, or even the original timestamp creation time.

HIVE Digital completed a $115 million zero-coupon note financing, Keel sold the Paraguay site to complete its exit from Latin America, and GSR's first multi-asset ETF $BESO was listed on Nasdaq

According to BBX data, yesterday the capital actions of mining companies' AI transformation coincided with the innovation of cryptocurrency ETF products, with the following core dynamics:HIVE Digital Technologies Ltd. (NASDAQ / TSX-V: $HIVE) announced on April 22 the completion of a $115 million private placement of 0% convertible preferred notes (including full exercise of the underwriters' over-allotment option), with the notes maturing in 2031 and estimated net proceeds of approximately $109.5 million; the initial conversion price of the notes is about $2.57 per share, representing a premium of approximately 17.5% over the closing price on April 16, while implementing capped call options to hedge against dilution risk. The funds will be used for GPU procurement and data center construction, and the company has also received conditional approval from the Toronto Stock Exchange, expecting to upgrade from the TSX Venture Exchange to the TSX main board around April 30.Keel Infrastructure Corp. (NASDAQ: $KEEL) (formerly Bitfarms) announced on April 22 the completion of the sale of its 70 MW Paso Pe mining site in Paraguay, with actual proceeds after delivery adjustments of approximately $13 million (the original agreed price was up to $30 million, with the difference reflecting delivery adjustments). CEO Ben Gagnon stated that this marks the company's complete exit from Latin American assets, and the proceeds will be fully redeployed to North American HPC/AI infrastructure pipelines; following the announcement, the company's stock price rose by about 4%.GSR (privately held) officially launched the GSR Crypto Core3 ETF (NASDAQ: $BESO) on Nasdaq on April 22, which is the first multi-asset actively managed cryptocurrency ETF in the U.S. covering Bitcoin, Ethereum, and Solana, with a management fee of 1.00%, rebalancing weekly based on research-driven signals, and executing on-chain staking for yield on portions of its Ethereum and Solana holdings; the investment advisor is Framework Digital Advisors, and the chief market maker is Jane Street Capital.
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