Lowenstein Sandler as co-counsel with Jones Day represented Kraken, one of the longest-standing, most liquid and secure crypto platforms serving more than 15 million clients globally, in entering into an agreement to acquire NinjaTrader, the leading U.S. retail futures trading platform, for $1.5 billion, subject to certain purchase price adjustments.
This acquisition strengthens Kraken’s position as a 24/7, always-on technology platform built for professional traders, making it a leader in U.S. futures for both traditional and crypto markets. It also accelerates Kraken’s multi-asset-class ambitions—which also include plans for equities trading and payments.
Founded in 2003, NinjaTrader provides advanced futures trading tools to nearly two million traders and operates as a CFTC-registered Futures Commission Merchant (“FCM”). This transaction marks the largest-ever deal combining traditional finance (TradFi) and crypto.
NinjaTrader will continue to operate as a standalone platform under the Kraken suite of trading and payments applications, with its clients gaining access to an expanded array of trading opportunities in the future.
The Lowenstein team included Ethan L. Silver, Brendan J. Koeth, Ryne Miller, and Trevor A. Levine.
