TechFlow News, May 15: According to CoinDesk, Payward, Kraken’s parent company, announced the layoff of approximately 150 employees—about 5% of its total workforce—as part of a business optimization effort ahead of its planned IPO. Meanwhile, the company is seeking new funding at a $2 billion valuation and aggressively pursuing an acquisition strategy: it recently acquired stablecoin payments firm Reap for $600 million and digital asset derivatives platform Bitnomial for $550 million; earlier, in 2025, it acquired U.S.-based retail futures platform NinjaTrader for $1.5 billion. Payward confidentially filed its S-1 draft registration statement with the SEC last November. Co-CEO Arjun Sethi stated that the company has completed roughly 80% of its IPO preparations and will formally advance toward listing once market conditions improve.
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