logo

Kraken’s Biggest Move Yet: NinjaTrader Deal Completed as Revenue Soars

By: coin central|2025/05/02 18:00:01
0
Share
copy
TLDRKraken has completed its acquisition of futures trading platform NinjaTraderQ1 revenue increased 19% year-on-year to $471.7 millionThe acquisition gives US customers access to traditional derivatives marketsTrading volume fell 9.6% quarter-over-quarter to $208.7 billionKraken is preparing for an IPO in early 2026Kraken, one of the world’s largest cryptocurrency exchanges, has completed its acquisition of futures trading platform NinjaTrader while reporting a 19% year-on-year increase in first-quarter revenue to $471.7 million. The company announced the finalization of the deal on May 1, marking what it called the largest ever merger between a crypto and traditional finance firm.The NinjaTrader acquisition is a key step in Kraken’s strategy to expand its offerings beyond cryptocurrency. NinjaTrader is a registered Futures Commission Merchant with the Commodity Futures Trading Commission, giving Kraken’s US customers access to traditional derivatives markets.Last month, NinjaTrader rolled out trading capabilities for over 11,000 stocks and exchange-traded funds to certain US clients. This aligns with Kraken’s stated goal of becoming the go-to platform for all types of trading.Global Expansion PlansThe deal will also allow NinjaTrader to expand its services to the UK, continental Europe, and Australian markets. Kraken plans to operate NinjaTrader as a standalone platform within its suite of trading and payments applications.Kraken said NinjaTrader capabilities will be integrated into Kraken Pro and Kraken Desktop soon. This integration is part of Kraken’s vision to build an institutional-grade trading platform where any asset can be traded at any time.The company plans to introduce additional asset classes to both platforms in the future. These include stocks, prediction markets, and options, further broadening its service offerings.Source: KrakenDespite reporting strong year-on-year growth, Kraken’s first-quarter revenue of $471.7 million represented a 6.8% decrease from the fourth quarter of 2024. The exchange also reported that trading volume fell 9.6% quarter-over-quarter to $208.7 billion.The value of assets under Kraken’s custody dropped 18% to $34.9 billion over the same period. The company attributed these declines to a “slowdown in overall market trading activity” linked to US President Donald Trump’s threats of implementing sweeping tariffs.Market Conditions and Company PerformanceThese factors contributed to an 18% fall in the overall crypto market cap during the quarter. Kraken was one of several crypto platforms that saw record or near-record trading activity in Q4 2024, driven by market volatility following Trump’s November election win.Despite what Kraken described as a “softening market,” the company’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 1% from the previous quarter to $187.4 million.The firm also reported that the number of funded accounts on its platform increased 10% quarter-on-quarter to 3.9 million. Kraken said this growth signals “deeper client engagement” despite challenging market conditions.Kraken is preparing for an initial public offering in early 2026. To facilitate this transaction, the company is exploring a debt package worth between $200 million and $1 billion.According to Reuters, Kraken has undergone a workforce restructuring since Arjun Sethi was appointed as co-CEO last October. The report indicates that Sethi has laid off around 400 employees during his tenure.For the transaction, PJT Partners served as financial advisor to Kraken, while Jones Day and Lowenstein Sandler served as legal advisors. On the NinjaTrader side, Jefferies acted as financial advisor, with Choate, Hall & Stewart LLP and Katten Muchin Rosenman LLP serving as legal advisors.The post Kraken’s Biggest Move Yet: NinjaTrader Deal Completed as Revenue Soars appeared first on CoinCentral.

You may also like

Naval personally takes the stage: The historic collision between ordinary people and venture capital

Naval personally stepped in as the chairman of the USVC Investment Committee. This SEC-registered fund launched by AngelList attempts to bring top private tech assets like OpenAI, Anthropic, and xAI to the general public with a $500 entry threshold. It is not just a new fund, but a structural experi...

a16z Crypto: 9 Charts to Understand the Evolution Trends of Stablecoins

Stablecoins are evolving from trading tools into universal payment infrastructure, and this process is quieter and more thorough than most people expected.

Refutation of Yang Haipo's "The End of Cryptocurrency"

This may be the true test of cryptocurrency. It's not about whether the price has reached a new high, nor about who will achieve financial freedom in the next bull market, but rather whether, after all the grand narratives have been washed away by cycles, it can still leave behind some simpler, more...

Can a hairdryer earn $34,000? Interpreting the reflexivity paradox of prediction markets

Prediction markets are essentially betting on reality, and when participants can access or even influence this path earlier, the market no longer just reflects reality but begins to shape it in return.

6MV Founder: In 2026, the "landmark turning point" for crypto investment has arrived

"I will deploy funds in 2026, so I will tell you this is the best year in history."

Abraxas Capital Mints $2.89 Billion USDT: Liquidity Boost or Just More Stablecoin Arbitrage?

Abraxas Capital just received $2.89 billion in freshly minted USDT from Tether. Is this a bullish liquidity injection for crypto markets, or is it business as usual for a stablecoin arbitrage giant? We analyze the data and the likely impact on Bitcoin, altcoins, and DeFi.

Popular coins

Latest Crypto News

Read more