Kraken Ties Up With MoneyGram to Enable Global Crypto-to-Cash Withdrawals; IPO Filing Said to Be 80% Done

ChainCatcher reports, citing BBX data, that this week brought notable updates across crypto cashout rails and miner earnings expectations. Kraken (Payward, Inc.) and MoneyGram announced a global strategic partnership on May 5 via PR Newswire. The rollout enables Kraken clients to convert crypto to cash and withdraw it at nearly 500,000 MoneyGram locations in more than 100 countries, spanning hundreds of fiat currencies. The initial phase centers on crypto cashouts, with plans to add local bank deposits and cross-border remittance services later. Kraken will conduct customer identity verification, while MoneyGram will provide licensed money-transmission services and compliance infrastructure. In an interview with Fortune, Kraken Co-CEO Arjun Sethi said the company's IPO preparations are "nearly 80% complete." Kraken has already submitted a confidential S-1 to the U.S. Securities and Exchange Commission. Bloomberg estimates Kraken's valuation at about $13.3 billion, based on Deutsche Börse's $200 million equity investment. MARA Holdings, Inc. (NASDAQ: $MARA) said on May 4 on its investor relations website (ir.mara.com) that it will release its Q1 2026 earnings after the market closes on May 11, followed by an earnings call at 5:00 PM ET. Wall Street consensus forecasts EPS of roughly $2.34 and revenue of about $184.2 million. By the end of 2025, MARA reported holdings of 53,822 BTC, full-year 2025 revenue of $907 million (+38% YoY), and a hash rate of 66.4 EH/s. Bitcoin prices fell from around $87,000 to roughly $68,000 during Q1 2026, raising pressure on miners' all-in costs. Investors are expected to focus on MARA's progress in shifting toward AI/HPC data centers, as well as the deployment pace tied to Starwood JV's more than 1 gigawatt of capacity. Macro data also moved into focus. The U.S. Department of Labor released April nonfarm payrolls on May 8, showing 115,000 jobs added, nearly double market expectations. Bitcoin traded in a narrow range around $79,000–$80,000 after the release, as markets interpreted the data as supportive of a "soft landing" narrative: employment growth without overheating, increasing the odds the Federal Reserve keeps rates unchanged and helping preserve steadier medium-term liquidity conditions for crypto. Bitcoin spot ETFs posted net inflows of about $2.44 billion in April, the strongest monthly total of the year. April's monthly candle ended up 16%. Fundstrat founder Tom Lee has said that if Bitcoin closes May above $76,000, it would mark three straight positive monthly closes—a setup he calls a "bear market end signal."