Crypto's future is bright in the context of AI's assault on SaaS, says Kraken-backed SPAC
By Ian Allison
Published on March 28, 2026.
Ravi Tanuku, CEO of KRAKacquisition Corp. (KRAKU), a Nasdaq-listed special purpose acquisition company (SPAC) sponsored by Kraken with venture firms Natural Capital and Tribe Capital, has stated that the industry remains a sound investment and less at risk from AI than traditional software as a service (SaaS) operations. The company is now exploring deals with crypto-native firms valued between $2 billion and $10 billion. This comes after Kraken's parent Payward delayed its IPO due to the collapse of the crypto markets. Tanuku declined to comment on Kraken's IPO plans, but saw potential for stablecoins and payments as the next best story after AI.
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