BusinessStartups

Kraken Acquires Small Exchange in $100M Deal to Expand US Derivatives and Prediction Markets

Cryptocurrency exchange Kraken has reportedly acquired Small Exchange for $100 million in a strategic move to enter US prediction markets. The acquisition provides Kraken with a CFTC-regulated designated contract market license, enabling expanded derivatives trading capabilities across multiple asset classes.

Major Acquisition in Crypto Derivatives Space

Cryptocurrency exchange Kraken has reportedly acquired Small Exchange for $100 million, according to sources familiar with the transaction. The deal, announced on October 16, represents a significant strategic move by the Wyoming-based company to expand its regulated derivatives offerings in the United States.

BusinessEconomy and Trading

Stock Futures Flat Amid Regional Banking Concerns, Market Volatility Spikes

Stock futures showed minimal movement Thursday night following a significant market sell-off driven by regional banking concerns. The volatility index jumped while Treasury yields fell, indicating heightened investor anxiety. Banking stocks tumbled after several institutions disclosed problematic loan portfolios.

Market Futures Stabilize After Banking Sector Sell-Off

U.S. stock futures were hovering near the flatline on Thursday night following a significant market decline during the previous session, according to reports. The downturn was reportedly fueled by growing concerns about regional banks’ loan practices and broader economic uncertainties.