Nasdaq Puts Hefty Bet on Crypto Exchange Kraken with $100M Investment

Nasdaq has made a significant investment in Payward, the parent company of cryptocurrency exchange Kraken. The investment amount is $100 million at a valuation of $21 billion. This move highlights Nasdaq's growing interest in the cryptocurrency market and its potential for growth.

The partnership between Nasdaq and Payward will likely lead to increased exposure and legitimacy for Kraken, one of the largest cryptocurrency exchanges globally. The investment also underscores the importance of institutional investors entering the crypto space, which can drive adoption and mainstream recognition.