A Manatt team led by Financial Services Partner Mike Katz and Corporate and Finance Partner Veronica Lah represented Breakout in their acquisition by Kraken.
The crypto-exchange platform acquired Breakout to offer more advanced traders with funded accounts and leveraged trading opportunities, enabling experienced traders to earn payments based on proof of skill.
Breakout has been at the forefront of building compliant, scalable digital asset infrastructure and provides seasoned traders access of up to $200,000 in notional capital, with the opportunity to retain up to 90% of generated profits. To qualify, traders must pass a rigorous evaluation and consistently perform above set benchmarks. The platform supports over 50 crypto trading pairs and offers up to five times leverage on BTC and Ether contracts.
Breakout was founded in 2023 by industry veterans TraderMayne and Alex Miningham.
Kraken recently acquired NinjaTrader and plans to go public in 2026.
The Manatt team also included Partners Jeff Mannisto and John Heber and Associates Adriana Bass, Arman Borazjani and Marina Ahmad.