A cryptocurrency exchange is reportedly nearing a $1.5 billion acquisition of the trading platform NinjaTrader. This strategic move would broaden the exchange’s customer base and allow it to introduce crypto futures and derivatives in the United States.
The deal is anticipated to be finalized by the morning of March 20, according to a recent report that cited sources familiar with the negotiations.
With NinjaTrader registered as a Futures Commission Merchant, the expanded offerings for the cryptocurrency exchange would become feasible. This acquisition aligns with the exchange’s strategy to diversify across various asset classes, including plans for equity trading and payment solutions, while also facilitating NinjaTrader’s expansion into the UK, Europe, and Australia.
NinjaTrader is expected to operate as an independent platform within the larger organization.
In related outreach, the cryptocurrency exchange and NinjaTrader were contacted for comments but did not provide a prompt reply.
Recently, the cryptocurrency exchange reported $1.5 billion in revenue, alongside $665 billion in trading volume, from 2.5 million funded accounts on its platform. Meanwhile, NinjaTrader has announced that its futures trading tools are utilized by over 1.8 million users.
The exchange revealed its plans to diversify its services back in November when it closed its non-fungible token marketplace.
In a related development, the U.S. Securities and Exchange Commission dropped its lawsuit against the exchange earlier this month, which had alleged that the platform operated as an unregistered broker, dealer, exchange, and clearing agency. The lawsuit was dismissed with no admission of wrongdoing and no penalties.
The cryptocurrency exchange is among several companies positioned to gain from a more lenient regulatory landscape in the U.S., under the leadership of President Trump, who aims to establish the nation as the "crypto capital" of the world.
Founded in 2011 by Thanh Luu, Michael Gronager, and former CEO Jesse Powell, the exchange appointed former data analytics executive Amir Orad as CEO last July.
It consistently ranks as one of the top seven to 15 largest cryptocurrency exchanges by spot trading volume, managing daily trades ranging from $390 million to $4.4 billion over recent months, according to market data.
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