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crypto.news 2025-05-02 08:38:24

Kraken acquires NinjaTrader as Q1 2025 revenue jumps 19% year-on-year

Kraken has completed its acquisition of U.S futures trading platform NinjaTrader. The crypto exchange reportedly saw a rise in revenue and trading volume on a year-on-year basis. According to the crypto firm’s latest quarterly financial report , its NinjaTrader acquisition marks the largest deal between a traditional finance platform and a crypto firm. Although the firm’s press release did not disclose how much the acquisition cost, crypto.news previously reported that the deal cost around $1.5 billion. The company revealed that NinjaTrader will continue to operate as its own separate entity under the crypto exchange’s suite of applications. On the other hand, traders will soon be able to access traditional derivative products on the crypto exchange’s trading platform, while NinjaTrader futures traders will also be able to trade crypto on the futures broker’s platform. “Kraken plans to introduce additional asset classes, including stocks, prediction markets, and options, to both platforms in the future,” wrote the crypto firm in a statement. The move comes after the crypto firm declared a jump in earnings through its latest quarterly financial report . In Q1 2025, the crypto exchange generated around $472 million in gross revenue, signifying a 19% year-on-year increase. However, it dropped 7% compared to the previous quarter, which reached $506.3 million. You might also like: Mastercard teams up with Kraken to expand crypto payment services across Europe Despite the drop in quarterly revenue, the firm’s adjusted EBITDA earnings reached $187 million, rising by 1% compared to Q1 2024 and increasing by 17% on a year-on-year basis. Moreover, Kraken saw its overall trading volume grow by 29% on a year-on-year basis, reaching $208.7 billion in total transactions processed. Much like its quarterly gross revenue, this quarter’s total trading volume still paled in comparison to Q1 2024, which amounted to $230.9 billion. Meanwhile, the number of funded accounts on the platform saw a 26% increase year-on-year. Compared to the previous quarter, the amount of funded accounts rose by 400,000, from 3.5 million accounts to 3.9 million. Most recently, Kraken established a partnership with the second largest neobank in the EU, Bunq, to provide crypto trading services. Customers of the bank will be able to trade in more than 300 crypto assets, including Bitcoin ( BTC ), Ethereum ( ETH ), and Solana ( SOL ). Initially, the service is only available in six European nations, serving traders in the Netherlands, France, Spain, Ireland, Italy, and Belgium. Read more: Bunq partners with Kraken to launch crypto trading services

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