Kraken Acquires Breakout to Bring Prop Trading to Clients Worldwide
Kraken, one of the world’s longest-standing crypto platforms, has completed the acquisition of Breakout, a proprietary trading firm that funds traders based on demonstrated performance rather than personal capital. The deal, effective September 1, significantly expands Kraken’s product suite for advanced traders and marks the company’s entry into evaluation-based prop trading.
A Performance-Based Model
Breakout’s approach requires traders to purchase and pass a rigorous evaluation before accessing funded accounts. Once qualified, traders can trade across more than 50 crypto pairs, including BTC and ETH with up to 5x leverage, while keeping as much as 90% of their profits. Traders are subject to drawdown limits and must requalify if breached. Individual accounts can be funded with up to $100,000 in notional capital, with an aggregate cap of $200,000 across multiple accounts.
Leadership Comments
Arjun Sethi, Kraken’s co-CEO, highlighted the cultural alignment: “Breakout gives us a way to allocate capital based on proof of skill rather than access to capital itself. 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.”
Breakout CEO and co-founder Alex Miningham noted the synergies: “Breakout gives traders a performance-based begining 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.”
Integration Into Kraken Pro
Over time, Breakout will be fully integrated into the Kraken Pro platform, offering seamless access for eligible users. This move advances Kraken’s mission of building transparent, programmable, and open infrastructure for traders. The acquisition also enhances Kraken’s brand as a trusted platform that emphasizes meritocracy in trading.
Founded in 2011, Kraken serves more than 15 million institutions, professional traders, and consumers globally. Its platform supports trading in over 450 digital assets as well as U.S. futures, U.S.-listed stocks and ETFs, and six national currencies. Kraken also provides services ranging from staking and rewards to custody, derivatives, and portfolio management tools. It was the first to conduct Proof of Reserves audits, setting an industry standard for transparency.
Breakout is a crypto-native prop trading platform designed to educate and fund serious traders. Its evaluation-based model verifies trading discipline and strategy performance before allocating capital. With clear rules, drawdown limits, and visible leaderboards, Breakout emphasizes a trader-first approach that blends funding with education and performance monitoring.
