Kraken-Linked SPAC Eyes $250 Million US Public Offering

A special purpose acquisition company (SPAC) linked to cryptocurrency exchange Kraken is planning to raise $250 million through a public offering in the United States. The SPAC, known as "Sapphire Sport," aims to target companies in the digital asset and blockchain sectors for potential mergers or acquisitions. This move reflects the growing interest in the cryptocurrency market and the increasing number of investment vehicles focused on digital assets. The offering is expected to attract investors looking to capitalize on the expanding crypto landscape.

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