Crypto alternate Kraken is reportedly closing in on a $1.5 billion acquisition of buying and selling platform NinjaTrader, a transfer that will broaden Kraken’s buyer base and allow it to offer crypto futures and derivatives within the US.
The deal may very well be confirmed by the morning of March 20 within the US, The Wall Avenue Journal said in a March 19 report, citing individuals conversant in the matter.
Kraken’s expanded choices can be made doable by way of NinjaTrader’s registration as a Futures Fee Service provider.
The transfer would assist Kraken’s technique to work throughout a number of asset courses — together with plans for equities buying and selling and funds — whereas enabling NinjaTrader to broaden into the UK, continental Europe and Australian markets, the sources informed WSJ.
NinjaTrader is predicted to stay a standalone platform below Kraken.
Cointelegraph reached out to Kraken and NinjaTrader for remark however didn’t obtain a direct response.
Supply: Wall Street Journal Markets
Kraken posted $1.5 billion in revenue and $665 billion in buying and selling quantity from 2.5 million funded buyer accounts on its platform in 2024, whereas NinjaTrader just lately said its futures buying and selling instruments are utilized by over 1.8 million clients.
Kraken introduced its intention to broaden its product choices and providers final November when it shuttered its non-fungible token marketplace.
Associated: Australia fines Kraken operator $5M for regulatory breaches
It comes because the US Securities and Change Fee dropped its lawsuit against Kraken on March 3 after it initially alleged that the crypto platform acted as an unregistered dealer, vendor, alternate and clearing company.
The go well with was dismissed with prejudice, with no admission of wrongdoing, no penalties paid and no adjustments to Kraken’s business.
Kraken is considered one of many corporations that stand to profit from a extra relaxed regulatory atmosphere within the US below President Donald Trump, who has promised to make America the “crypto capital” of the world.
The crypto exchange was based in 2011 by Thanh Luu, Michael Gronager and former CEO Jesse Powell, who handed the reins over to former knowledge analytics govt Amir Orad final July.
Kraken persistently ranks among the many prime seven to 15 largest crypto exchanges by spot buying and selling quantity, dealing with between $390 million and $4.4 billion in day by day trades over the previous three months, according to CoinGecko knowledge.
Journal: Deposit risk: What do crypto exchanges really do with your money?
Cointelegraph by Brayden Lindrea Kraken nears $1.5B deal allowing it to offer US crypto futures: Report cointelegraph.com 2025-03-20 03:13:26
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