{
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        "rendered": "<div data-v-43e640e6>\n<p>Kraken has stepped into proprietary trading with the acquisition of Breakout, a Tampa, Florida startup that backs traders with capital. <\/p>\n<p>In a Thursday announcement, crypto exchange Kraken <a href=\"https:\/\/www.businesswire.com\/news\/home\/20250904012956\/en\/Kraken-Completes-Major-Acquisition-of-Breakout-to-Offer-Prop-Trading-to-Clients-Globally\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/www.businesswire.com\/news\/home\/20250904012956\/en\/Kraken-Completes-Major-Acquisition-of-Breakout-to-Offer-Prop-Trading-to-Clients-Globally\">announced<\/a> the acquisition of Breakout, a startup that backs traders with up to $200,000 in capital under a \u201crigorous evaluation\u201d methodology that tests risk management and strategy discipline. <\/p>\n<p>\u201cBreakout gives us a way to allocate capital based on proof of skill rather than access to capital itself\u2026 We want to build systems that reward demonstrated performance, not pedigree,\u201d Kraken&#8217;s co-CEO Arjun Sethi <a data-ct-non-breakable=\"null\" href=\"https:\/\/www.businesswire.com\/news\/home\/20250904012956\/en\/Kraken-Completes-Major-Acquisition-of-Breakout-to-Offer-Prop-Trading-to-Clients-Globally\" rel=\"https:\/\/www.businesswire.com\/news\/home\/20250904012956\/en\/Kraken-Completes-Major-Acquisition-of-Breakout-to-Offer-Prop-Trading-to-Clients-Globally\" target=\"https:\/\/www.businesswire.com\/news\/home\/20250904012956\/en\/Kraken-Completes-Major-Acquisition-of-Breakout-to-Offer-Prop-Trading-to-Clients-Globally\" title=\"https:\/\/www.businesswire.com\/news\/home\/20250904012956\/en\/Kraken-Completes-Major-Acquisition-of-Breakout-to-Offer-Prop-Trading-to-Clients-Globally\">said<\/a> in a statement. <\/p>\n<p>Proprietary or prop trading is when traders use a company\u2019s capital rather than their own, with profits shared between the two. Traders on Breakout\u2019s platform can keep up to 90% of their profits, the company said.<\/p>\n<p>Launched in 2023, the platform supports more than 50 crypto trading pairs, including leveraged contracts on Bitcoin (<a data-ct-non-breakable=\"null\" href=\"http:\/\/cointelegraph.com\/bitcoin-price\" rel=\"http:\/\/cointelegraph.com\/bitcoin-price\" target=\"http:\/\/cointelegraph.com\/bitcoin-price\" title=\"http:\/\/cointelegraph.com\/bitcoin-price\">BTC<\/a>) and Ether (<a data-ct-non-breakable=\"null\" href=\"http:\/\/cointelegraph.com\/ethereum-price\" rel=\"http:\/\/cointelegraph.com\/ethereum-price\" target=\"http:\/\/cointelegraph.com\/ethereum-price\" title=\"http:\/\/cointelegraph.com\/ethereum-price\">ETH<\/a>).<\/p>\n<figure><img decoding=\"async\" alt=\"Kraken, Trading\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-09\/01991679-4e10-71b3-b204-9bf28aed3841\" title><figcaption><em>Source: <\/em><a href=\"https:\/\/x.com\/unclesendit\/status\/1963603976605118928\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/x.com\/unclesendit\/status\/1963603976605118928\"><em>Unclesendit<\/em><\/a><\/figcaption><\/figure>\n<p>Financial terms of the deal weren\u2019t disclosed. Breakout raised $4.5 million in seed funding in 2024, and will eventually be integrated into Kraken Pro as part of the exchange\u2019s push into trading infrastructure. <\/p>\n<p>The move also follows <a href=\"https:\/\/cointelegraph.com\/news\/kraken-confirms-ninjatrader-aquisition-q1-revenue-rises\" rel target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/kraken-confirms-ninjatrader-aquisition-q1-revenue-rises\">Kraken\u2019s acquisition of NinjaTrader<\/a>, a US-based futures and trading software platform, in May 2025 for $1.5 billion.\u00a0<\/p>\n<p>After the 2008 financial crisis, US banks were restricted from proprietary trading, pushing activity to independent market makers and companies like Citadel Securities, Jane Street and Jump Trading.<\/p>\n<p>Prop trading has also taken root in the crypto sector. Firms like Jump Crypto, a division of Jump Trading, and DRW\u2019s Cumberland deploy their own capital in digital assets, including through market-making activities. Meanwhile, retail-focused platforms such as Crypto Fund Trader, HyroTrader and Breakout offer evaluation-based accounts to let traders access capital.<\/p>\n<p><em><strong>Related:\u00a0\u00a0<\/strong><\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/sbi-group-partners-chainlink-crypto-asia-finance-market\" rel=\"https:\/\/cointelegraph.com\/news\/sbi-group-partners-chainlink-crypto-asia-finance-market\" target=\"https:\/\/cointelegraph.com\/news\/sbi-group-partners-chainlink-crypto-asia-finance-market\" title=\"https:\/\/cointelegraph.com\/news\/sbi-group-partners-chainlink-crypto-asia-finance-market\"><em><strong>SBI Group, Chainlink partner to bring crypto tech to Asia\u2019s finance scene\u00a0<\/strong><\/em><\/a><\/p>\n<p><iframe width=\"100%\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/cL1nV-uxaG0?start=\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen loading=\"lazy\"><\/iframe><\/p>\n<h2>Exchanges are busy making TradFi acquisitions<\/h2>\n<p>Crypto exchanges have been acquiring companies and products to expand their offerings of traditional finance tools.<\/p>\n<p>In May, Coinbase closed a <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-acquire-deribit-2-9-billion\" title=\"null\">$2.9 billion deal to acquire Deribit<\/a>, the derivatives exchange. It was one of largest mergers in the sector to date, giving Coinbase a significant foothold in derivatives trading.<\/p>\n<p>That same month, Crypto.com secured approval from Cyprus regulators after acquiring A.N. Allnew Investments Ltd. This move granted it a MiFID <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/crypto-com-secures-eu-license\" title=\"null\">license to offer regulated securities<\/a> and derivatives across the European Economic Area.\u00a0<\/p>\n<p>On Tuesday, <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/coincheck-parent-acquires-french-regulated-crypto-firm-for-europe-expansion\" title=\"null\">Japanese crypto exchange Coincheck<\/a> announced plans to acquire Aplo, a Paris-based regulated digital asset brokerage for institutions. The deals gives Coincheck a foothold in Europe\u2019s regulated markets.<\/p>\n<p><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/magazine\/inside-30000-phone-crypto-airdrop-bot-farm\/\" title=\"null\"><em><strong>Magazine: Inside a 30,000 phone bot farm stealing crypto airdrops from real users<\/strong><\/em><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" data-ct-non-breakable=\"undefined\" label=\"Subscription Form: Markets Outlook\"><\/template><\/div>",
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