KRAKacquisition Corp., a Kraken-linked SPAC, has begun searching for crypto acquisition targets with valuations of up to $10 billion after raising $345 million in its IPO. The vehicle has two years to complete a transaction. Earlier reporting said it was focusing on crypto-native companies in areas such as stablecoins, DeFi, and payments, with director Ravi Tanuku indicating a final target valuation could be closer to $2 billion despite the higher ceiling. Separately, Kraken confidentially filed with the U.S. Securities and Exchange Commission and was valued at about $20 billion following an $800 million funding round last year.