Kraken has announced the acquisition of Breakout, a crypto-native proprietary trading platform co-founded by well-known “Crypto Twitter” figures TraderMayne and CryptoCred. The deal, completed on September 1, comes less than two years after Breakout’s launch and marks another step in Kraken’s expansion into advanced trading services.
What Breakout Brings to Kraken
Breakout gives traders the ability to access up to $100,000 in notional capital per account—or $200,000 across multiple accounts—without risking their own funds. Instead, users must pass a paid evaluation process, adhere to strict drawdown limits, and demonstrate consistent trading discipline. Those who qualify earn a funded account and can retain up to 90% of profits, with payouts available on demand.
“Breakout gives us a way to allocate capital based on proof of skill rather than access to capital itself,” said Kraken co-CEO Arjun Sethi. “Its evaluation-first model is designed to verify risk discipline, strategy consistency, and real decision-making under pressure. This isn’t simulation for simulation’s sake—it’s a filter for scalable signal.”
Founded in 2023 by TraderMayne, CryptoCred, Alex Miningham, and Abetrade, Breakout allows traders to build strategies across more than 50 crypto pairs, with leverage of up to 5x on Bitcoin and Ethereum. Over time, Breakout will be integrated directly into Kraken Pro, giving eligible users streamlined access within the exchange’s platform.
Voices From the Founders
Breakout’s team framed the acquisition as a natural extension of the company’s mission.
“Breakout gives traders a performance-based starting point. Kraken delivers the scale and tools to grow. Together, both companies form a unified ecosystem that supports the full trader journey from education through independent capital deployment,” said Breakout CEO Alex Miningham.
Reflecting on the company’s fast rise, co-founder CryptoCred shared on X that the project began in a Telegram chat group just two years ago.
“I thought we were gonna flop because [Crypto Twitter] was so negative at launch… and here we are,” he wrote, noting the long hours spent building despite skepticism.
I thought we were gonna flop because CT was so negative at launch
— Cred (@CryptoCred) September 4, 2025
So I just decided to work and not tweet about it despite Breakout taking up most of my waking hours
And here we are 🫡
A Wave of Crypto M&A
The deal is part of a broader trend of consolidation and growth in the digital asset sector. Crypto exchanges and fintech firms have been accelerating mergers and acquisitions in 2024, citing more favorable regulatory conditions in the U.S., market competition, and the push to expand infrastructure.
Kraken itself has been active on this front. In March, the exchange announced its $1.5 billion acquisition of NinjaTrader, a U.S. retail futures platform, marking the largest deal to date between a crypto exchange and a traditional finance firm. Other major moves this year include Coinbase’s $2.9 billion takeover of Deribit, Robinhood’s $200 million purchase of Bitstamp, and Ripple’s $1.25 billion acquisition of Hidden Road.
