Kraken Acquires Breakout Trading Platform, Is An IPO Next?

Kraken acquired Breakout, a prop crypto trading firm. It plans to allow a funded trading plan, where users can apply to invest in crypto using $200,000 in credit. The exchange would retain around 20% of the ensuing gains.

Still, Kraken’s community has been a little skeptical, claiming that this acquisition doesn’t have a lot of synergy with its other offerings. Instead, this deal may be a way to lay the groundwork for a future IPO.

Kraken has been looking at a few new expansions recently, as the popular CEX has shown an interest in tokenizing US stocks and ETFs. Its latest acquisition, however, is something of a curveball. Kraken has purchased Breakout, a prop trading firm, potentially opening new options for customers:

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