Kraken has completed its acquisition of NinjaTrader, allowing for traditional derivatives trading for US customers, while reporting first quarter revenues of $471.7 million, a 19% increase from the previous year. This acquisition positions Kraken to enhance its offerings and cater to a broader trading audience. NinjaTrader, recognized by the Commodity Futures Trading Commission, previously expanded its services to US clients by offering trading for over 11,000 stocks and ETFs. The deal is deemed significant as it marks a notable collaboration between cryptocurrency and traditional finance. In addition to strong revenue growth, Kraken reported a 9.6% decline in trading volume and an 18% reduction in custodied assets, attributed to a slowdown in market trading activity following increased economic uncertainties. Despite market challenges, the firm's adjusted EBITDA rose to $187.4 million. Furthermore, Kraken is exploring a debt package to support its market expansion into the UK, Europe, and Australia. The number of funded accounts on its platform has also grown by 10%, indicating strong client engagement.

Source đź”—