In recent crypto news, crypto exchange Kraken completed the acquisition of proprietary trading firm Breakout.
This is a major milestone for the crypto exchange as it continues to expand amid the crypto-friendly regulatory landscape under the Trump administration.
The strategic acquisition expanded Kraken’s product suite for advanced traders. Existing clients can now access up to $200,000 in funded capital to trade crypto and keep more than 80% of the profits.
Kraken Completes Breakout’s Acquisition
According to an official announcement on September 4, crypto exchange Kraken disclosed the acquisition of Breakout.
The proprietary trading firm offers experienced traders access to $200,000 in trading capital.
Traders must first purchase and clear an evaluation, maintaining their trading performance above predefined limits. Those who succeed in the test will get a funded account.
Also, qualified traders can retain up to 90% of their generated profits, which are paid directly on demand, including USDC stablecoin payouts.
Arjun Sethi, co-CEO of Kraken, said Breakout will be powered by Kraken’s infrastructure and global platform. Traders can start trading with more than 50 crypto pairs.
The latest integration of Breakout into Kraken Pro provides an improved infrastructure layer to traders.
It allows traders to carry out higher-than-normal crypto trades with zero personal capital at risk.
Crypto News: Kraken Boosts Crypto Adoption and Bridge TradFi
In August, crypto news reported Kraken acquired Capitalise.ai to add no-code, natural-language trading automation to Kraken Pro. The exchange expects to start offering the trading automation feature later this year.
Moreover, several TradFi brokers and exchanges use Capitalise, for their most engaging automation tools for retail and institutional investors.
Kraken also unlocked regulated access to crypto services throughout the European Economic Area after it received the Markets in Crypto-Assets Regulation (MiCA) license last month.
Crypto exchange Kraken is also seeking a broker-dealer license from regulators to offer tokenized securities in the United States.
In May, Kraken announced offering tokenized versions of more than 60 stocks and ETFs — including Apple, Tesla, Nvidia and SPDR S&P 500 ETF (SPY).
While the SEC is working towards regulating tokenized securities, tokenized stock trading platform Dinari became the first firm to secure a broker-dealer license to offer tokenized securities in the United States.
How Breakout’s Acquisition Benefits Bitcoin and Ethereum?
Kraken is offering a maximum of $100,000 in capital for each funded client account as part of the acquisition.
Qualified traders on Breakout will get up to 5x leverage on Bitcoin (BTC) and Ethereum (ETH) contracts.
It will boost the adoption of Bitcoin and Ethereum via trading, while also increasing liquidity.
Breakout will get integrated directly into the Kraken Pro platform over time, with access to eligible users.
BTC price fell more than 2% in the past 24 hours, trading at $109,990. The 24-hour low and high were $109,779 and $112,600, respectively.
Meanwhile, ETH price was trading $4,361, down more than 2% in the last 24 hours. The intraday low and high were $4,333 and $4,489, respectively.