Kraken sparks speculation with May 17 teaser, later revealing its acquisition of retail trading platform NinjaTrader.
However, using the symbol “KRAK” in the caption “KRAK the world” without any additional context was considerably more surprising.
Is KRAK a ticker or a token?
Kraken’s intentions have been the subject of considerable speculation due to the post. Some community members are uncertain whether the exchange is preparing to launch a native token, plan an IPO, or potentially both.
As of the time of publication, Kraken has not provided any additional details regarding the post.
In the interim, some analysts propose that KRAK could serve as the ticker symbol for a highly anticipated initial public offering. Others consider it a clue to a native exchange token, which could be followed by an airdrop to reward longtime users.
Individuals who believe it is a token have high expectations for an imminent airdrop that could be advantageous to exchange users.
It is important to note that a native token is not a novel concept. Native assets are already being issued by rival exchanges such as Binance to provide loyalty rewards, trading fee discounts, and governance rights on their platforms.
“Do i get airdrop for beeing a loyal kraken customer for the last 8 years?,” One of the exchange user asked.
However, others have also cited Kraken’s initial public offering (IPO) aspirations. According to earlier reports, the exchange intends to become publicly traded by the following year.
Kraken has already established a foundation by reducing its workforce, optimizing operations, and diversifying into stock and derivatives trading, despite the absence of a formal filing.
Kraken may be more secure from a regulatory perspective by going public. Launching a token may result in scrutiny from US authorities, such as the Securities and Exchange Commission (SEC), particularly concerning securities classification.
Furthermore, there is an increasing interest in tokenized equity, a digital asset representing company shares and providing potential for hybrid models.
“IPO ticker? Or are we seeing the first iteration of tokenized equity,” a crypto user questioned.
These developments have occurred concurrently with Kraken’s purported escape from a substantial data compromise.
Reports surfaced earlier this week that the same social engineering campaign that targeted Coinbase also targeted Kraken and Binance.
Coinbase recently disclosed that it experienced a substantial data intrusion, during which the perpetrators demanded a $20 million Bitcoin ransom. Nevertheless, Binance and Kraken were able to repel these assaults due to their robust internal security measures.
