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Crypto's future is bright in the context of AI's assault on software firms, says Kraken

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Crypto's future is bright in the context of AI's assault on software firms, says Kraken-backed investment firm Crypto’s latest bear cycle is a mere blip when compared with the existential threat AI now poses to traditional software services, says Ravi Tanuku, CEO of KRAKacquisition Corp. What to know: - KRAK, a Nasdaq-listed special purpose acquisition company, is ready to explore potential deals ...
**STEELMAN:** The strongest version of this narrative positions crypto as a resilient asset class amid AI-driven disruption, particularly in contrast to SaaS companies facing automation risks. The argument gains credibility by highlighting crypto’s utility in payments and tokenization—areas less directly threatened by AI—while acknowledging AI’s dominance in investor focus. The SPAC’s $345 million IPO and targeting of high-value crypto firms signal institutional confidence, even as short-term ma...