RabbitVectorStory
Nasdaq puts $100M into Kraken's parent company, Payward
Leans positive
Major traditional finance player investing signals growing crypto legitimacy
What happened
Nasdaq, the stock exchange company, invested $100 million into Payward, the company that owns the crypto exchange Kraken. This deal values Payward at $21 billion, meaning that's what investors think the whole company is worth right now.
Why it matters
It's a sign that traditional finance players keep getting more comfortable putting money into crypto companies, which can mean more legitimacy and stability for the industry over time.
Should I do anything?
Nothing to do here. This is a business deal between companies, not something that affects your coins or accounts directly.
Terms used
- valuation
- an estimate of how much a company is worth, usually based on what investors are willing to pay for a piece of it
- crypto exchange
- a platform where people can buy, sell, and trade cryptocurrencies