Crypto exchange Kraken has completed its acquisition of the futures trading platform NinjaTrader and reported its first quarter revenues jumped 19% year-on-year to $471.7 million.<\/p>\n
Kraken said<\/a> in a May 1 report that its NinjaTrader acquisition<\/a> would give its US customers access to the traditional derivatives market, aligning with its plans<\/a> to expand its offerings and be the go-to platform for all types of trading.<\/p>\n NinjaTrader is a registered Futures Commission Merchant with the Commodity Futures Trading Commission. Last month, it rolled<\/a> out trading for over 11,000 stocks and exchange-traded funds to certain US clients.<\/p>\n The deal, which Kraken dubbed the largest ever between a crypto and traditional finance firm, allows NinjaTrader to expand to the UK, continental Europe and Australian markets and comes as Kraken is preparing for an initial public offering<\/a> in early 2026. The company is exploring a debt package worth between $200 million and $1 billion to facilitate that transaction.<\/p>\n Kraken\u2019s $471.7 million revenue in Q1 marked a 19% increase from the year-ago quarter but a 6.8% fall from Q4 2024<\/a>.<\/p>\n The exchange reported that trading volume fell 9.6% quarter-over-quarter to $208.7 billion while the value of its custodied assets fell 18% to $34.9 billion over the same time.<\/p>\n Kraken attributed the drop to a \u201cslowdown in overall market trading activity\u201d as US President Donald Trump\u2019s<\/a> threats of implementing sweeping tariffs triggered an 18% fall in the crypto market cap over the quarter.<\/p>\n Key metrics from Kraken\u2019s Q1 report. Source: <\/em>Kraken<\/em><\/a><\/p>\n Kraken is one of several crypto platforms that saw record or near-record highs in trading activity in Q4<\/a> as Trump’s November election win sparked larger-than-usual market volatility.<\/p>\n Related: <\/strong><\/em>Kraken rolls out ETF and stock access for US crypto traders<\/strong><\/em><\/a><\/p>\n Kraken said that despite a \u201csoftening market,\u201d its adjusted EBITDA\u00a0 \u2014 earnings before interest, taxes, depreciation and amortization \u2014 jumped 1% from the previous quarter to $187.4 million.<\/p>\n The firm also saw the number of funded accounts on its platform increase 10% quarter-on-quarter to 3.9 million, signaling \u201cdeeper client engagement.\u201d<\/p>\nKraken revenue, trading volume falls on Trump\u2019s return<\/h2>\n