Kraken nears $1.5B deal allowing it to offer US crypto futures: Report

Crypto speech Kraken is reportedly closing successful connected a $1.5 cardinal acquisition of trading level NinjaTrader, a determination that would grow Kraken’s lawsuit basal and alteration it to connection crypto futures and derivatives successful the US.

The woody could beryllium confirmed by the greeting of March 20 successful the US, The Wall Street Journal said successful a March 19 report, citing radical acquainted with the matter.

Kraken’s expanded offerings would beryllium made imaginable done NinjaTrader’s registration arsenic a Futures Commission Merchant. 

The determination would assistance Kraken’s strategy to enactment crossed respective plus classes — including plans for equities trading and payments — portion enabling NinjaTrader to grow into the UK, continental Europe and Australian markets, the sources told WSJ.

NinjaTrader is expected to stay a standalone level nether Kraken.

Cointelegraph reached retired to Kraken and NinjaTrader for remark but did not person an contiguous response.

Source: Wall Street Journal Markets

Kraken posted $1.5 cardinal successful revenue and $665 cardinal successful trading measurement from 2.5 cardinal funded lawsuit accounts connected its level successful 2024, portion NinjaTrader precocious said its futures trading tools are utilized by implicit 1.8 cardinal customers.

Kraken announced its volition to broaden its merchandise offerings and services past November erstwhile it shuttered its non-fungible token marketplace.

Related: Australia fines Kraken relation $5M for regulatory breaches

It comes arsenic the US Securities and Exchange Commission dropped its suit against Kraken connected March 3 aft it initially alleged that the crypto level acted arsenic an unregistered broker, dealer, speech and clearing agency. 

The suit was dismissed with prejudice, with nary admittance of wrongdoing, nary penalties paid and nary changes to Kraken’s business. 

Kraken is 1 of galore firms that basal to payment from a much relaxed regulatory situation successful the US nether President Donald Trump, who has promised to marque America the “crypto capital” of the world.

The crypto exchange was founded successful 2011 by Thanh Luu, Michael Gronager and erstwhile CEO Jesse Powell, who handed the reins implicit to erstwhile information analytics enforcement Amir Orad past July.

Kraken consistently ranks among the apical 7 to 15 largest crypto exchanges by spot trading volume, handling betwixt $390 cardinal and $4.4 cardinal successful regular trades implicit the past 3 months, according to CoinGecko data.

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