A Katten team led by Partner Matthew Kluchenek advised Bitnomial, the first fully CFTC-licensed derivatives company in the United States built for digital assets, on financial regulatory matters in connection with its sale to Payward, the parent company of cryptocurrency platform Kraken, for up to $550 million in cash and stock. The Katten team included Partner Brian Poronsky and Associate Alexander Kim.
Founded over a decade ago, Bitnomial is the first crypto-native exchange in the United States to hold all three CFTC-issued licenses required to operate a full-stack domestic crypto trading and derivatives business: a designated contract market, a derivatives clearing organization and a futures commission merchant. The transaction is expected to close in the first half of 2026, subject to customary closing conditions and regulatory filings. Katten appreciates the opportunity to team with deal counsel, Haynes Boone, and financial advisor PJT Partners.
"Payward to Acquire Bitnomial, Creating a Fully CFTC-Licensed Derivatives Platform," BusinessWire, April 17, 2026
Chicago
