Kraken Nears $1.5 Billion NinjaTrader Acquisition Deal

Highlights:

• Kraken is on the verge of sealing a $1.5 billion deal for NinjaTrader purchase.
• The acquisition will expand Kraken’s services to include crypto futures and derivatives.
• The deal would also boost NinjaTrader’s expansion into the UK, Australia, and continental Europe.

A Wall Street Journal (WSJ) report on March 19 revealed that US-based crypto exchange Kraken has edged closer to finalizing a $1.5 billion NinjaTrader acquisition. According to the publication, the purchase would allow Kraken to expand its user base and services, including crypto futures and derivatives.

Founded in 2003, NinjaTrader serves over 1.8 million followers, reflecting its longevity and customers’ trust. Sources familiar with the deal said the acquisition could become official on March 20, barring last-minute changes. This purchase ranks among the crypto industry’s largest, as crypto platforms rarely pursue capital-intensive deals.

JUST IN: Kraken approaches $1.5 billion deal for NinjaTrader, sources indicate: WSJ. pic.twitter.com/jCWDunYNQv

— Whale Insider (@WhaleInsider) March 19, 2025

What the New Deal Means for the Parties Involved

As a registered Futures Commission Merchant (FCM), NinjaTrader allows Kraken to expand its services with fewer regulatory constraints. In turn, Kraken will boost NinjaTrader’s expansion into the United Kingdom, Australia, and continental Europe.

On March 10, 2025, Kraken announced that it had secured an Electronic Money Institution (EMI) authorization from the UK’s Financial Conduct Authority (FCA). The exchange described the license as a key step toward expanding its services across the UK.

Also, on February 3, 2025, Kraken earned its Markets in Financial Instruments Directive (MiFID) license in the European Union (EU). The exchange secured the approval by procuring a Cypriot investment firm. Like the EMI authorization, this will smooth NainjaTrader’s expansion into the UK and continental Europe after the acquisition.

Aside from services expansion, NinjaTrader acquisition means Kraken would work across several asset classes. These include equities trading and payments, aligning with the trading platform’s long-term goals. Meanwhile, under the deal, NinjaTrader will operate as a standalone platform within Kraken.

🚨🚨@NinjaTrader to be acquired by @krakenfx? 1.5B deal could be announced tomorrow morning. https://t.co/0rQRBkFNWB pic.twitter.com/BE6T58PZvO

— Jmu (@jmutrades) March 19, 2025

Kraken About to Seal Huge Deal After Recording Significant Revenue Growth in 2024

Kraken reported $1.5 billion in revenue for 2024, representing a 128% year-over-year gain compared to 2023. According to the trading platform’s financial report, Kraken’s net earnings, excluding amortization, depreciation, interest, and taxes, amounted to about $380 million.

In 2024, Kraken also amassed $665 billion in trading volume from over 2.5 million funded accounts. Additionally, the exchange averages over $2,000 in revenue from each customer and holds roughly $42.8 billion in assets.

US Regulatory Landscape Tailored to Encourage Participation in Crypto

Since Donald Trump took office, the United States crypto landscape has faced lighter regulatory scrutiny. The US president has delivered on many of his campaign promises to make the US a leading global crypto hub.

Following Mark Uyeda’s appointment as the US Securities and Exchange Commission (SEC) acting chairman, the regulatory agency has eased enforcement actions against crypto platforms. On March 3, the SEC dropped its lawsuit against Kraken. The case was dismissed with prejudice, carrying no penalties, no admission of guilt, and no modification to Kraken’s business model.

The SEC sued Kraken in November 2023, alleging that it facilitated the sales of digital assets, which the regulatory body classified as securities. Apart from Kraken, the SEC dropped its lawsuit against several crypto platforms, including Ripple, Coinbase, Yuga Labs, Cumberland DRW, Gemini, Robinhood, Uniswap Labs, etc. The regulatory watchdog actions reflect a new dawn for crypto participation among individuals and companies in the US.