From Cointelegraph

May 1, 2025 8:54 pm:

Crypto exchange Kraken completed its acquisition of NinjaTrader, reporting a 19% revenue increase to $471.7 million in Q1. NinjaTrader now offers trading for 11,000 stocks and ETFs to US clients and plans to expand to the UK, continental Europe, and Australian markets. Kraken is preparing for an IPO in early 2026, exploring a debt package of $200 million to $1 billion.

Kraken’s Q1 revenue saw a 19% increase year-on-year to $471.7 million, but a 6.8% decrease from Q4 2024. Trading volume fell 9.6% to $208.7 billion, with custodied assets dropping 18% to $34.9 billion. Market activity slowdown due to Trump’s tariff threats led to an 18% crypto market cap fall.

Despite a softening market, Kraken’s adjusted EBITDA rose 1% to $187.4 million in Q1. The platform saw a 10% increase in funded accounts, reaching 3.9 million, signaling deeper client engagement. Kraken restructured its workforce, laying off around 400 employees after co-CEO Arjun Sethi’s appointment.

Read more at Cointelegraph: Kraken finalizes NinjaTrader buy as Q1 revenue jumps 19%