POPA ReconKraken's Parent Payward to Acquire Derivatives Exchange Bitnomial for $550M
Kraken's Parent Payward to Acquire Derivatives Exchange Bitnomial for $550M Payward, a Kraken parent company, agreed to acquire derivatives exchange Bitnomial in a deal worth up to $550M, combining cash and stock. The transaction implies a $20B valuation for Payward. The acquisition is aimed at strengthening Payward's position in the regulated crypto derivatives space. Bitnomial operates a CFTC-regulated trading venue, clearinghouse, and brokerage, and has been one of the few US exchanges actively listing altcoin futures. The deal comes as Payward continues building out a broader infrastruc…
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