Overview
- Transaction volume rose 34% to $2.0 trillion in 2025, with trading contributing 47% of total revenue.
- Adjusted EBITDA increased 26% to $531 million for the year.
- Platform assets reached about $48.5 billion and funded accounts climbed to 5.7 million, up 12% and 50% respectively.
- Acquisitions including NinjaTrader, Breakout and Backed Finance helped drive a 119% jump in futures daily average revenue trades.
- The company formalized a multibrand structure, completed a Dec. 31, 2025 Proof of Reserves validated by a third party, secured MiCA and EMI approvals, and noted a confidential U.S. IPO filing in November 2025.