👀 Crypto Giant Kraken acquires Breakout Prop Firm

Hi guys, it’s Kieran. Another week is upon us and the markets are open, so lets get into it.

📢 Prop Firm Industry News

Crypto tech giant Kraken has acquired crypto focused prop firm Breakout Prop. Kraken which also owns NinjaTrader, acquired them for an undisclosed fee. This is a huge deal for the industry and another step forward into the mainstream.

Arjun Sethi, co-CEO of Kraken said: “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. That is deeply embedded in Kraken’s cultural DNA. Breakout’s evaluation first model is designed to verify risk discipline, strategy consistency, and real market decision making under pressure”

Also last week Topstep launched Back2Funded, where you can reactivate your funded account if you blow it. Interesting move. I think the prices are ok, but as ever, there was lots of differing views, as many firms now offer StraightToFunded accounts, albeit with tougher rules. Nice to have the option though.

Back2Fnded reactivation prices are: 50k $499, 100k $599, 150k $729.

From Payout Junction, here are the firms who paid out the most over the last 7 days 🏆️.

🔥 Monitor prop firm payouts LIVE on Payout Junction - https://payoutjunction.com.

🕜 Red Folder News

Here are this week’s red folder news events. A quiet week on the economic calendar this week, however what we do have are some huge Inflation readings which could impact the Fed’s September interest rate decision next week. After Non-Farm payrolls missed on Friday, chances of a 0.25% cut are all but guaranteed, however bets on a 0.5% cut have also now increased. PPI on Wednesday and CPI Thursday could have an impact on which way they go.

📈 The Macro View

Sentiment back to Neutral

What an incredible Non-Farm Payrolls Friday it was in the equity markets. As soon as the number was announced the S&P500 hit all time highs and looked like it would continue driving upwards, until it violently reversed closing the day red. That’s September volatility for you! No direction yet, keep an open mind and stay risk managed.

Keep a close eye on big tech this week.

NVDA and MSFT which represent 15% of the S&P500 are possibly breaking down. These stocks will be bought on dips, so they won’t go down without a fight, but these going into all-out correction mode would of course bring the major stock indices down with them. Nothing to panic about yet though.

Is anyone bearish on Gold?

Everything i’ve read lately is that everyone is bullish on Gold. Granted the macro picture is highly supportive and this looks like a textbook breakout, but in markets, if everyone expects something to happen, it rarely actually happens, so it could be wise to keep an open mind on this breakout for now.

OK guys that’s everything from me, have a great week!

Kieran

📚 Further Reading

Are traders who avoid news events missing the only real edge in prop trading? This week’s question to PerplexityAI includes:

• News Trading Strategies

• Prop Firm Restrictions

• Alternative Trading Edges

• Risk Management Approaches

Click the link below!

The London Prop Trading Expo – London’s First Prop Trading Expo is coming, 27th September 2025

Spend a day in London meeting prop firms and chatting with successful prop traders.

They have kindly set up a special free ticket offer specifically for readers of Prop Traders Weekly, offering free tickets (usual price £20) when using the code 'POJ' to register.

Register here!

Enjoy trading related newsletters? Try the Market Journal 👇️ 

Monitor prop firm payouts LIVE on Payout Junction 🔥