Who Owns Your Crypto Prop Firm? Companies, Founders and Backers (2026)
Updated · 2 min read
Only a few crypto prop firms have a well-known parent or backer: Breakout is owned by Kraken, Vest Capital is run by Vest Markets (backed by Jane Street and others), Propr is backed by SwissBorg, and Hypernova raised $3M led by Lemniscap. Most others are small offshore companies in the Cayman Islands, the BVI or Seychelles, and several don't name their operating entity at all.
- Exchange-owned: Breakout (Kraken), Vest Capital (Vest Markets).
- Venture-backed crypto-native: Propr (SwissBorg/XBorg), Hypernova (Lemniscap), SizeProp (Igloo, per its own release).
- Futures-firm spin-off: MyFundedPerps, sister brand of MyFundedFutures.
- White-label: Hyper Stack resells Vanta's program (Taoshi VT Services).
- No named entity found: Carrot Funding, DojiFunded, Foxify, Klein Funding.
Ownership table
| Firm | Legal entity / jurisdiction | Parent, founders or backers |
|---|---|---|
| Breakout | Breakout Trading Group LLC (evaluations); Payward Oceanic Ltd (funded) | Kraken (acquired Sept 2025); earlier $4.5M seed led by RockawayX |
| Vest Capital | Vest Labs Inc. (Vest Markets); CEO Justin Ma | Backers listed on its site: Coinbase, Jane Street, Selini, Greylock |
| Propr | Propr Limited, BVI (No. 2211330) | Founder Louis Regis; built by XBorg; backed by SwissBorg |
| Hypernova | Hypernova Systems, Grand Cayman | CEO Anar Bayramov; $3M pre-seed led by Lemniscap (CMS Holdings, Very Early Ventures, Pivot Global) |
| Vanta Trading | Taoshi VT Services, Cayman Islands | Taoshi team (Bittensor) |
| Hyperscaled | Taoshi VT Services | Same company as Vanta; Hyper Stack is an authorized marketing partner |
| MyFundedPerps | Funding Perpetuals Holdings, Inc. | Sister brand of MyFundedFutures |
| SizeProp | SIZ EDU Limited, Cayman Islands | Pre-seed led by Igloo Inc (per SizeProp's release) |
| Crypto Fund Trader | SWISS RLCRATES AG, Zug, Switzerland | Not disclosed |
| Mubite | Mubite s.r.o., Prague, Czech Republic | Not disclosed |
| HyperPNL | Hyperpnl Ltd (Cayman, reported) | Hyperliquid community hackathon origin |
| Upscale | Seychelles governing law | Not disclosed |
| Carrot Funding | Not disclosed | Not disclosed |
| HyroTrader | Not disclosed in FAQ | Not disclosed |
Why ownership matters
- Payout risk: simulated firms pay you from their own funds. A deep-pocketed parent lowers the risk that payouts stop.
- Recourse: a named entity in a known jurisdiction is someone you can make a claim against. An anonymous operator isn't.
- Rule stability: venture-backed and exchange-owned firms have more to lose from retroactive rule changes.
- Conflicts: firms that trade against traders (B-book) profit when you lose; firms that copy winners (A-book) don't.
Ownership is one input. Check payout verification, delisted firms and our rating method too.
Frequently asked questions
Is Breakout owned by Kraken?
Yes. Kraken announced the acquisition of Breakout in September 2025. Funded accounts are issued by Payward Oceanic Ltd, a Kraken group entity.
Who is behind Propr?
Propr Limited (BVI), founded by Louis Regis, built by the team behind XBorg and backed by SwissBorg.
Are crypto prop firms regulated?
Generally no. They describe themselves as simulated trading evaluation services that don't take client deposits, so they don't hold broker licenses.
Sources
- Propr — Legal disclosures
- Crypto Briefing — Hypernova raises $3M
- Vanta Trading FAQ
- Chainwire — SizeProp raises pre-seed led by Igloo Inc
- MyFundedPerps Docs
Educational content, not financial advice. Perps and prop evaluations are high-risk; firm rules change, so check each firm's current terms.