WHY NASDAQ INVESTED $100MM IN KRAKEN AT $21B VALUATION

Summary from the TLDR Fintech newsletter

The venture arm of Nasdaq announced it is investing $100M into Payward, the parent company behind crypto exchange Kraken, at a $21B valuation. The deal strives to make Kraken a major distribution platform for Nasdaq's tokenized equities, which are set to go live in 2027. This comes as the asset class hit a record $6B in monthly on-chain trading volumes in August.