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Fintech Insider Podcast by 11:FS
949. News: Kraken buys NinjaTrader, Lumber leans on AI for workforce management, and Robinhood moves into banking
Mar 31, 2025
Oleg Pravdin is the Head of Product at Lumber, a company using AI to transform construction operations. Joanne Dewar leads Project Nemo, striving for disability inclusion in fintech, while Miguel Armaza is a General Partner at Gilgamesh Ventures, investing in budding fintech startups. They discuss Kraken's acquisition of NinjaTrader and how it's reshaping crypto-trading. Lumber's recent funding aims to enhance workforce management, and Project Nemo's partnership with HSBC seeks to improve accessibility in financial services, highlighting an exciting evolution in the fintech landscape.
01:08:19
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Quick takeaways
- Kraken's $1.5 billion acquisition of NinjaTrader signifies a strategic move to merge TradFi and crypto, enhancing its trading capabilities.
- Lumber's $15.5 million funding will boost AI-driven workforce management solutions, streamlining operations in the construction industry for improved efficiency.
Deep dives
Kraken's Major Acquisition in Fintech
The acquisition of NinjaTrader by Kraken for $1.5 billion marks a significant merger between traditional finance (TradFi) and cryptocurrency sectors. This deal not only positions Kraken as a more formidable player by expanding its services to include futures, equities, and payments, but also allows it to offer crypto futures and derivatives in the U.S. through NinjaTrader's regulatory licenses. Such strategic moves indicate Kraken's ambition to create an institutional-grade trading platform, akin to a 'Bloomberg for crypto,' demonstrating a clear effort to bridge the gap between TradFi and crypto ecosystems. Additionally, Kraken is reportedly exploring a $1 billion debt raise in anticipation of a potential IPO, further solidifying its place as a leading crypto exchange.
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