Kraken Completes Acquisition of Prop Trading Service Breakout
US cryptocurrency exchange Kraken has acquired prop trading service Breakout for an undisclosed amount. This acquisition integrates Breakout's services into the Kraken Pro platform, enabling qualified traders to execute trades up to $200,000 with no risk.
Key details include:
- Traders must pass a qualification test to access up to $200,000 in trading capital.
- Access to over 50 trading pairs is provided.
- Traders can earn up to 90% of their total profits with on-demand payouts.
Breakout was created by TraderMayne and CryptoCred, who began development in 2023. They have issued over 20,000 funded accounts and expect growth through this integration. Kraken's recent activities include relocating its offices to Wyoming, concluding a legal investigation into founder Jesse Powell, and collaborating with Backed Finance and TRON DAO for tokenized stock trading.