Kraken acquires Breakout to expand global prop trading
Traders who prove their skills can access substantial funding and keep most of their profits, regardless of background.
Key Takeaways
- Kraken announced the acquisition of Breakout to launch a global proprietary trading program with up to $200,000 in capital for qualified traders.
- The program allows traders to use up to 5x leverage on BTC and ETH contracts and retain up to 90% of profits.
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Kraken has acquired Breakout, an evaluation-based proprietary trading firm, to launch a global prop trading program offering qualified traders access to up to $200,000 in notional capital, the crypto exchange announced today.
The acquisition, effective September 1, enables traders to access funded accounts after purchasing and passing a rigorous evaluation while maintaining performance above predefined drawdown limits. Successful traders can retain up to 90% of generated profits, paid on demand.
“Breakout gives us a way to allocate capital based on proof of skill rather than access to capital itself,” said Arjun Sethi, co-CEO of Kraken. “In a world that is rapidly shifting from who you know to what you know, we want to build systems that reward demonstrated performance, not pedigree.”
The program allows traders to develop strategies across more than 50 crypto pairs, with up to 5x leverage available on Bitcoin and Ethereum contracts. Individual funded client accounts can access up to $100,000 in notional capital, with clients able to maintain multiple accounts up to an aggregate maximum of $200,000.
“Breakout gives traders a performance-based starting point. Kraken delivers the scale and tools to grow,” said Alex Miningham, co-founder and CEO of Breakout. “Together, both companies form a unified ecosystem that supports the full trader journey from education through independent capital deployment.”
The service will be integrated into the Kraken Pro platform, providing eligible users with seamless access to the proprietary trading program.
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