Kraken snaps up $60B token platform Magna – IPO next?

ambcrypto2026-02-19 tarihinde yayınlandı2026-02-19 tarihinde güncellendi

Özet

Kraken's parent company, Payward, has acquired tokenization platform Magna for an undisclosed sum as it prepares for a potential IPO. Magna, which recorded a peak TVL of $60 billion in 2025, will operate as a standalone platform supported by Kraken's liquidity and resources. The deal enhances Kraken's capabilities in token issuance, vesting, staking, custody, and escrow services. This move aligns with Payward's confidential IPO filing with the SEC in November, following its reported $2.2 billion in adjusted revenue for 2025. Despite a challenging crypto market where Bitcoin has declined and newly listed firms trade below debut prices, Kraken aims to proceed with its public listing alongside other industry players like Ledger, Copper, Securitize, and Consensys.

Kraken’s parent company, Payward, has acquired tokenization platform Magna as it prepares for a potential IPO. The paperwork was confidentially filed with the SEC.

Kraken expands, IPO plans underway

The exchange has so far stated that Magna will operate as a standalone platform. They’ll be supported by the exchange’s liquidity, resources and know-how.

Payward and Kraken Co-CEO Arjun Sethi made collective intent known with this deal. He noted that they’d want to “help projects move from idea to execution,” without “locking them into one stack.”

This deal will increase Kraken’s ability to handle token issuance, vesting, staking, custody and escrow services. These are tools increasingly in demand as more projects move on-chain.

Magna CEO Bruno Faviero said joining Kraken will give the platform more resources and global reach. Expressing happiness at the development, he stated,

“I couldn’t be more excited about our shared vision to support token ecosystems and the builders behind them across formation, launch, and growth.”

Magna currently serves more than 160 clients and recorded a peak TVL of $60 billion in 2025. The acquisition is in line with Payward filing for an IPO in November. They reported $2.2 billion in adjusted revenue for 2025.

They’re not the only ones...

Hardware wallet maker Ledger and digital asset custodian Copper have both explored US listings.

Tokenization firm Securitize recently reported revenue growth of more than 840% ahead of its own IPO plans. Consensys, the parent company of MetaMask, is also reportedly preparing for a debut.

Optimism was high at the start of 2025, as Bitcoin [BTC] surged to around $126,000 in October from under $94,000 at the end of 2024. Several crypto firms went public during that rally, many posting strong first-day gains.

But things went sour quickly.

Since October, BTC has fallen below $63,000, and newly listed crypto stocks have struggled. Bullish, eToro and Gemini are all trading well below their debut prices, with some down more than half.

Even Circle, which has held up better than its peers, remains below its opening level.

Final Summary

Kraken’s Magna acquisition will speed up IPO plans in a less than ideal crypto market.
The real test will be whether Kraken can go public as rivals struggle post-listing.

İlgili Sorular

QWhat is the parent company of Kraken and what significant acquisition did it make?

AKraken's parent company is Payward, and it has acquired the tokenization platform Magna.

QHow much was Magna's peak TVL in 2025 and how many clients does it serve?

AMagna recorded a peak TVL of $60 billion in 2025 and currently serves more than 160 clients.

QWhat are some of the services that Kraken's acquisition of Magna will enhance?

AThe acquisition will increase Kraken's ability to handle token issuance, vesting, staking, custody, and escrow services.

QWhat was Payward's adjusted revenue for 2025 as mentioned in the article?

APayward reported $2.2 billion in adjusted revenue for 2025.

QAccording to the article, how has the performance of newly listed crypto stocks been since Bitcoin's price decline from its October high?

ASince Bitcoin fell from its October high, newly listed crypto stocks have struggled, with Bullish, eToro, and Gemini all trading well below their debut prices, some down more than half.

İlgili Okumalar

"Teletubbies" Robot Cleaning Service, $30/Hour, Pure·Manual·Intelligence

Anthropomorphic "Teletubby" robot offers cleaning services in San Francisco at $30/hour, but it's entirely remote-controlled. The robot, created by startup Tau Robotics, can perform household tasks like washing hands, mopping floors, and taking out trash. While the initial demo videos appear impressive and are notably shown at normal speed (unlike many sped-up robot demos), the company reveals the actions are performed via human teleoperation, not autonomous AI. Tau Robotics, founded in 2024, argues this "cheat" is a strategic way to bridge the current capability gap, ensure task completion, and collect real-world home data to eventually train autonomous systems. Their service features three robot models: Chelsea for kitchens/bathrooms, Elon for regular tidying with memory, and Tony for deep cleaning. Priced at $30 per hour, it's cheaper than average human cleaners in the US. The article discusses the broader challenge of deploying humanoid robots in homes, comparing Tau's approach to others like China's Ziliang and the US's 1X Neo, which also use teleoperation. A key reason for choosing a humanoid form is to make remote control more intuitive for human operators. The piece also notes the potential "emotional value" of having a humanoid servant. The service is currently invite-only in San Francisco.

marsbit2 dk önce

"Teletubbies" Robot Cleaning Service, $30/Hour, Pure·Manual·Intelligence

marsbit2 dk önce

From South Korea to the United States: Blue-Collar Jobs Are Becoming Increasingly Popular, Thanks to AI

AI is reshaping the labor market's value proposition. The traditional four-year college degree is losing its appeal as a guaranteed career path, while skilled blue-collar trades like electricians, welders, and plumbers are experiencing historic demand and wage premiums. This shift is driven by dual pressures: AI's displacement of certain white-collar roles and a booming need for physical infrastructure and data center construction. Data confirms the trend. In the U.S., vocational school revenue surged, and a significant portion of recent layoffs are AI-related. Surveys show a majority of Gen Z adults plan to pursue blue-collar work, citing better job security against AI automation. Vocational education interest has exploded recently. Experts cite a psychological shift as younger generations seek tangible, AI-resistant careers and avoid high student debt. In many cases, salaries for skilled trades now match or exceed those requiring a bachelor's degree. In South Korea, semiconductor vocational high schools boast near-total employment, with graduates securing high-paying roles at companies like Samsung. The shortage is structural, exacerbated by a retiring baby boomer workforce and massive infrastructure projects. Companies like JPMorgan Chase, Meta, and Lowe's are investing heavily in training programs. However, overcoming historical stigma and a "perception gap" around trade careers remains a key challenge to closing the talent gap.

marsbit46 dk önce

From South Korea to the United States: Blue-Collar Jobs Are Becoming Increasingly Popular, Thanks to AI

marsbit46 dk önce

Qualcomm: AI Hype Subsides, When Will Smartphones Emerge from the Gloom?

Qualcomm reported its Q3 FY2026 results (ending June 2026), with revenue of $9.95B, down 4% YoY but above expectations. Gross margin declined to 53.1%, pressured by rising costs across manufacturing and memory. Key business segments showed mixed performance: Handset revenue fell 19.6% YoY to $5.09B, dragged by an 11% decline in non-Apple Android shipments and weaker high-end mix. Conversely, Automotive revenue surged 61% to $1.59B, and IoT grew 9% to $1.83B. Core operating profit dropped 41% YoY due to margin compression and higher expenses. Management's Q4 FY2026 guidance projects revenue of $9.7B-$10.5B, in line with consensus, but Non-GAAP EPS guidance of $2.05-$2.25 fell short of expectations. Amidst persistent weakness in its core handset market, Qualcomm is pursuing growth in AI, focusing on Edge AI (smartphones, PCs, automotive) and Data Center AI. Its data center strategy includes four pillars: AI accelerators (e.g., AI200), commercial CPUs (Dragonfly C1000), custom silicon, and connectivity solutions. While these initiatives initially boosted its stock, concerns over AI capital expenditure sustainability have since erased those gains. The company targets $5B in data center revenue for FY2027 and $15B for FY2029. The report concludes that with the traditional handset business still under pressure, the data center opportunity is currently viewed as a longer-term option, and a more conservative valuation based on core operations may be warranted until AI contributions materialize.

marsbit50 dk önce

Qualcomm: AI Hype Subsides, When Will Smartphones Emerge from the Gloom?

marsbit50 dk önce

From TPU to Self-Evolving Agents: How Jeff Dean Predicts the Next Step in AI

At the 2026 YC Startup School, Jeff Dean outlined his vision for AI's next phase, shifting focus from simply scaling models to building intelligent, autonomous systems. He believes AI's progress is no longer just about creating smarter models, but about integrating them into systems capable of long-term, iterative work, automated experimentation, and continuous learning. This evolution moves the competition from "who has the bigger model" to "who can best organize intelligence." Dean suggests AI capabilities are now comparable to a junior engineer, enabling the automation of complex workflows. However, the true challenge and opportunity lie in managing these AI "workers" at scale. He emphasizes the importance of **context engineering**—structuring tools, memory, and feedback loops—over raw model power. For startups, this means building deep expertise in niche domains where general models currently fail (near 0-1% success rates), leveraging proprietary data, specialized tools, and domain-specific evaluators. A recurring theme is re-examining fundamental constraints. Dean's past work, like moving Google's search index to memory or creating the TPU, stemmed from questioning outdated assumptions about hardware and cost. He sees similar inflection points today, particularly in **specialized inference hardware** to drastically reduce latency and energy consumption for real-time Agent operation. Notably, he points out that in modern AI systems, the dominant cost is often not computation but **data movement**. Reliable, long-running Agents require robust system design, borrowing concepts from distributed computing like checkpointing, state management, and parallel exploration to handle failures and maintain progress over days or weeks. As AI automates execution, the scarcest human skills will shift to **defining clear specifications**, **judging what problems are worth solving** (taste), and designing effective feedback loops. Ultimately, Dean's framework prioritizes understanding the problem deeply, identifying the true bottlenecks, and systematically building closed-loop systems where AI can not only perform tasks but also improve AI itself.

marsbit50 dk önce

From TPU to Self-Evolving Agents: How Jeff Dean Predicts the Next Step in AI

marsbit50 dk önce

Coldcard exploit sparks Bitcoin flight, ‘bullish’ crypto consolidation: Hodler’s Digest, August 2

A Coldcard hardware wallet exploit led to estimated losses of 1,367 BTC ($88.6 million), causing a spike in small Bitcoin transfers as users moved funds to centralized exchanges and other custody methods. In U.S. politics, the Clarity Act faces hurdles with time running out for a Senate vote, amid debates over ethics rules and crypto regulation. Major crypto firms like Coinbase reported disappointing Q2 earnings, while an analyst notes the industry is entering a significant consolidation phase, with revenue concentrating in a few dominant protocols like Hyperliquid and Pump.fun. Bitcoin's price decline continued, though some analysts suggest the market may have bottomed. Other news includes Telegram's legal troubles in Russia and Australia, layoffs at Pump.fun ahead of token distributions, and a White House staffer accused of insider betting leaving his post.

cointelegraph1 saat önce

Coldcard exploit sparks Bitcoin flight, ‘bullish’ crypto consolidation: Hodler’s Digest, August 2

cointelegraph1 saat önce

İşlemler

Spot