Crypto trade Kraken has accomplished its acquisition of the futures buying and selling platform NinjaTrader and reported its first quarter revenues jumped 19% year-on-year to $471.7 million.
Kraken said in a Might 1 report that its NinjaTrader acquisition would give its US prospects entry to the standard derivatives market, aligning with its plans to increase its choices and be the go-to platform for all sorts of buying and selling.
NinjaTrader is a registered Futures Fee Service provider with the Commodity Futures Buying and selling Fee. Final month, it rolled out buying and selling for over 11,000 shares and exchange-traded funds to sure US purchasers.
The deal, which Kraken dubbed the most important ever between a crypto and conventional finance agency, permits NinjaTrader to increase to the UK, continental Europe and Australian markets and comes as Kraken is making ready for an initial public offering in early 2026. The corporate is exploring a debt bundle value between $200 million and $1 billion to facilitate that transaction.
Kraken revenue, buying and selling quantity falls on Trump’s return
Kraken’s $471.7 million revenue in Q1 marked a 19% enhance from the year-ago quarter however a 6.8% fall from Q4 2024.
The trade reported that buying and selling quantity fell 9.6% quarter-over-quarter to $208.7 billion whereas the worth of its custodied property fell 18% to $34.9 billion over the identical time.
Kraken attributed the drop to a “slowdown in total market buying and selling exercise” as US President Donald Trump’s threats of implementing sweeping tariffs triggered an 18% fall within the crypto market cap over the quarter.
Kraken is one among a number of crypto platforms that noticed file or near-record highs in trading activity in Q4 as Trump’s November election win sparked larger-than-usual market volatility.
Associated: Kraken rolls out ETF and stock access for US crypto traders
Kraken stated that regardless of a “softening market,” its adjusted EBITDA — earnings earlier than curiosity, taxes, depreciation and amortization — jumped 1% from the earlier quarter to $187.4 million.
The agency additionally noticed the variety of funded accounts on its platform enhance 10% quarter-on-quarter to three.9 million, signaling “deeper shopper engagement.”
Reuters reported on April 18 that Kraken restructured its workforce after Arjun Sethi was appointed as co-CEO final October. Sethi has laid off round 400 staff since.
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Cointelegraph by Brayden Lindrea Kraken finalizes NinjaTrader buy as Q1 revenue jumps 19% cointelegraph.com 2025-05-02 00:54:49
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