Kraken, a leading U.S.-based cryptocurrency exchange, announced that it had bought Breakout, a crypto-native proprietary trading firm that lets traders get paid for successfully using their strategies. The acquisition, which was completed on September 1, adds more products for advanced traders to the crypto exchange’s offerings.
As per the details in the official statement, Breakout gives users access to up to $100,000 in notional capital per account or up to $200,000 across multiple accounts. While users are not required to use personal trading capital, the platform grants them access to funds after going through an evaluation process.
All the participants have to pass an assessment while staying within set drawdown limits. People who meet the requirements get a funded account and they can keep up to 90% of the profits they make.
“Breakout gives us a way to allocate capital based on proof of skill rather than access to capital itself.” Kraken co-CEO Arjun Sethi said, adding, “Breakout’s evaluation first model is designed to verify risk discipline, strategy consistency, and real market decision making under pressure. This is not simulation for simulation’s sake. It is a filter for scalable signal. This is how modern capital platforms should work. Transparent, programmable, and open to anyone with an edge.”
TraderMayne, CryptoCred, Alex Miningham, and Abetrade, all veterans of the crypto industry, started Breakout in 2023. It lets traders make strategies with more than 50 crypto pairs, and they can get up to 5x leverage on Bitcoin and Ethereum contracts. Over time, Breakout will be added directly to the Kraken Pro platform for users who meet the requirements.
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