Kraken’s mysterious announcement on Might 17 has set the crypto house abuzz with hypothesis and rumors. In a brief video on X, the US-based crypto alternate revealed its acquisition of retail buying and selling platform NinjaTrader.
Nevertheless, the larger shock was its use of the image “KRAK” within the caption “KRAK the world” with no additional context.
Is KRAK a Token or a Ticker?
The publish has fueled intense hypothesis over Kraken’s plans. Some group members are questioning whether or not the alternate is making ready to launch a local token, plan an IPO, or maybe each.
Kraken has provided no additional explanations for the publish as of press time.
In the meantime, some observers counsel KRAK may signify the ticker image for a long-anticipated preliminary public providing. Others imagine it hints at a local alternate token, probably adopted by an airdrop to reward longtime customers.
Those that imagine it’s a token have excessive expectations for an upcoming airdrop that might profit the alternate customers.
Notably, a local token wouldn’t be a brand new idea. Rival exchanges like Binance already difficulty native property used for loyalty rewards, buying and selling charge reductions, and governance rights on their platforms.
“Do i get airdrop for beeing a loyal kraken buyer for the final 8 years?,” One of many alternate person requested.
Nevertheless, others level to Kraken’s IPO ambitions. Stories from earlier this 12 months urged the alternate goals to go public by subsequent 12 months.
Whereas no formal submitting has been made, Kraken has already laid some groundwork by chopping workers, streamlining operations, and increasing into inventory and derivatives buying and selling.
From a regulatory standpoint, going public could also be a safer path for Kraken. Launching a token may invite scrutiny from US authorities just like the Securities and Trade Fee (SEC), particularly regarding securities classification.
Furthermore, there’s additionally rising curiosity in tokenized fairness, digital property that signify shares in an organization, leaving room for hybrid fashions.
“IPO ticker? Or are we seeing the primary iteration of tokenized fairness,” a crypto person questioned.
All of those developments come simply as Kraken reportedly escaped a major knowledge breach.
Earlier within the week, studies emerged that Kraken and Binance had been each focused in the identical social engineering marketing campaign that hit Coinbase.
Coinbase not too long ago revealed that it suffered a major knowledge breach, with the perpetrators demanding a $20 million Bitcoin ransom. Nevertheless, Binance and Kraken managed to fend off these assaults resulting from their robust inner safeguards.
