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From: "Kraken" <no-reply@email.kraken.com>
Message-ID: <20.89.54688.D77F40A6@i-0476808c27e71976c.mta1vrest.sd.prd.sparkpost>
To: tjphuhs@gmail.com
Date: Wed, 13 May 2026 22:13:17 +0000
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Subject: Your holdings could be doing more
Reply-To: noreply@marketing.kraken.com

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Start trading spot margin.    =0AKraken Pro logo =0A( https://link.kraken.c=
om/f/a/1gYZ_k9Gg7PwIqp-Df_3wQ~~/AAQRxRA~/dMnE-2wW68zC78mO1ru8PPcdHFFIG6M0XQ=
h7380uQYh8cWXGj9j_M2GdAdbQJ7QBGmRbQJWcdVOMwc5hWfdv_O3fYAP6b6XKVxjxt2OKK5g1v=
azLFappslMoG_DVKdUlegptKUZKPy-Ls4o8zXjcfw~~ )=0A=0A******************=0AOnl=
y one step left=0A******************=0A=0ANo new funds needed. One margin t=
rade =E2=80=94 as small as you like.=0A=0ATrade now  =0A( https://link.krak=
en.com/f/a/lF5yf78ZdgN91HsmeZRhSg~~/AAQRxRA~/can_ZziTRR4bxBrb5eOhRkfiX1Zq3M=
WM-vyj1proiFxgCVdJIrwe8LzOSoA-LCcpORlW-oqW_y9wlKyrQAnEexK17BmjS1QxN-dwMhCwT=
uQW4lXEvp5Hppt7jozc79mYqOsmy_s9vbxWXcLbtChbxg~~ )=0AOnly one step left =0A(=
 https://link.kraken.com/f/a/q5oeip5cfQn4QC4eL_QWwg~~/AAQRxRA~/can_ZziTRR4b=
xBrb5eOhRkfiX1Zq3MWM-vyj1proiFxgCVdJIrwe8LzOSoA-LCcpC_2Lfj57a-8X-9aatjFolU3=
t5fbmzc9wDYemRYME_hO6vyVD3vu7HzSMxSsh2XJ6VGZ01Hy9IhjKZG-UgvxbMw~~ )=0AMargi=
n is live on your account. See how it works.=0A=0AYou=E2=80=99re trading wi=
th assets already in your account. The only=0Athing that changes is what yo=
u can do with them.=0A=0ABigger trades, same funds=0ATake advantage of mark=
et moves with up to 10x more leverage.=0A=0A* Review your exact cost=0A* Se=
t a stop-loss=0A* Place your trade=0AOne small trade. That=E2=80=99s all it=
 takes to see what margin can do.=0A=0A************************************=
*****************************=0AHow to trade and manage margin =0A( https:/=
/link.kraken.com/f/a/9DCxbk8kslOkLVx263qDHg~~/AAQRxRA~/can_ZziTRR4bxBrb5eOh=
RmnqfAX9VkRvyn4alWFIxq8VxBz-vkdoXI12sZKHGFMQfHBjonic-9E1TeYooIz69udUdWVyy6v=
uZppgEC7fImDrdVbpJDY6mtxD4kZ6oE_z98bygffYEqZ-dtWKKe96LA~~ )=0A*************=
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j766aUXklcKlWSbVze0U3Qs9uy8aIVfLA )=0ASign in =0A( https://link.kraken.com/=
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6NWGfqGXv6nOOWICBer8Apho~=0A) Kraken on Instagram =0A( https://link.kraken.=
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pcUPOfcv_zuWq1ckWEr3x-54Hrgkg-GW24mLLorT6BOx6TVTXFuSWA4ud3uFbgmK-J87cu3cQ25=
h4WBELeYBtTIRgmCKtBx9SCVogXF50GSnt-cY6YiRA~~ )  Kraken on=0ALinkedIn =0A( h=
ttps://link.kraken.com/f/a/zY0y-Ce_Jr_l3hy2Mebgeg~~/AAQRxRA~/E04IU_edV-bZJC=
9TxXCQ6j-couEne-7pCgaPRqjqLFoxIzrL9GMR5XsiVa2OX0VPxruLYMocy9cJS5ptwyTtixKp8=
jlp7cKhT7bMmP2_klR-jOgJh9XscWYPVVjGHFlT6sqW-Aw7-QJPVUMzMC557A~~ )=0AKraken =
on YouTube (=0Ahttps://link.kraken.com/f/a/Nx2W8pX2uAggINwZNmrxUw~~/AAQRxRA=
~/MrCjHiYbBpS-gdtBI8q6mOvYV7It4MyBpiJ0-2ZqEH__FJrTB-ma0etGvmBNDXkvolWuqfx7-=
Jsb3XydWILA76Bc3qZ2_0Jbtn1_EsFcZpZ16wzr9V1fSggEqlQo4yHPNLLxPwIix46Zr0Ewgb7B=
Qw~~=0A)      Spot margin trading involves substantial risk and is not=0Asu=
itable for everyone. Losses may exceed the initial investment,=0Aand additi=
onal collateral may be required. While leverage can=0Aincrease potential re=
turns, it also significantly increases risk.=0ALeverage available may vary =
by asset. Past performance is not=0Anecessarily indicative of future result=
s. Availability of spot=0Amargin trading through Kraken Derivatives US is s=
ubject to=0Acertain limitations and eligibility criteria. View Risk=0ADiscl=
osure Statement =0A( https://link.kraken.com/f/a/zgMdsqoFXIuRvz8TOuqTAA~~/A=
AQRxRA~/Q1GNcqquqjPjTJ7cy34OLLbp918XZyEhc825qXHnhkE5Z21MzcubHFMThXLEcnZlKmi=
gFuUwzj7tKL0dlqFEewYqtRtsJwxbTN22VdNfGcXZDlTJLWr4Oxw849YGNP-XJQRF3jV_iE0XpB=
z5PQLVkJmC39sYogaTlIJ31PkIdaA~ )=0A.=0A=0ASpot margin trading is provided b=
y NinjaTrader Clearing, LLC=0Ad/b/a Kraken Derivatives US, a CFTC-registere=
d Futures Commission=0AMerchant and NFA Member (NFA ID: 0309379), with fina=
ncing=0Aprovided by Payward Accredited LLC. View Disclosures =0A( https://l=
ink.kraken.com/f/a/gflkE8bKArxxX1rgpi9Nkg~~/AAQRxRA~/MrCjHiYbBpS-gdtBI8q6mB=
eDPrVcWKbQ2nPTc4H8kLahQCMUp35udSafz770SAiurYLI4l4RAEAkjMaQGyFi5jmLKC-i1t6u7=
b5zhGmg9tiauoX_npq5-1_X8SvjY3kPBq_ek2PvJjUccSokK-qobw~~ ).=0A=0APayward Log=
o ( https://link.kraken.com/f/a/_uMjcjeoMCYdF-WGEwC7lg~~/AAQRxRA~/629jwxOl4=
bNcvfHHRVx9yIuBg1cv_AadNn39jNa-tE_RX-ErLQNoQKOYLiUxyUE53wHeuqCiU-82Wk52Uj-E=
DvwvylyMZt4ln59mmvj1s1hsUKEZ88N9AMlTJnuzAv3r )=0A =C2=A9 Payward Interactiv=
e, Inc.=0A2026=0A=0A=0A Terms of Service =0A( https://link.kraken.com/f/a/i=
c-n1X1VmqseX__WZqab7Q~~/AAQRxRA~/RxZOJd14tC51FL-GFNmNXT8LX0xDnfTkLFmXbMYar1=
TaEAw6IppptjI6cVfFgY0SHrJmUOx_smWcRexBiUDPh6Nbkqdnz_BBTC9Rbd7Iud8yMewsYu9si=
1sAoWyblTh1NuUiXinA_99jQMOKSYUApg~~ ) =E2=80=A2 Disclosures =0A( https://li=
nk.kraken.com/f/a/bFUH-_qT6BFJgfcoeAktGg~~/AAQRxRA~/dMnE-2wW68zC78mO1ru8PPy=
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yxqoCpP5KH-0UnAJkz0rXC98EPtYr3LF8iAUhjwXhzoBbLGkRHig~~ ) =E2=80=A2=0APrivac=
y Notice =0A( https://link.kraken.com/f/a/NPPlTkjodvRLh4c-M-QTLA~~/AAQRxRA~=
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1rnF_9C6GdTB3xZPYTpIqAKyIRha9SCdSzuIz29fHI4rKmJvHCQxU9sJsiF-QiIUuGRRnj0wbw9=
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</div>=0A<table class=3D"nl-container" width=3D"100%" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace=
:0;mso-table-rspace:0;background-color:#f6f5f9"><tbody><tr><td>=0A<table cl=
ass=3D"row row-1" align=3D"center" width=3D"100%" border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;=
mso-table-rspace:0"><tbody><tr><td><table class=3D"row-content stack" align=
=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presen=
tation" style=3D"mso-table-lspace:0;mso-table-rspace:0;background-color:#f6=
f5f9;border-radius:0;color:#000;width:580px;margin:0 auto" width=3D"580"><t=
body><tr><td class=3D"column column-1" width=3D"100%" style=3D"mso-table-ls=
pace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:30px=
;padding-right:30px;vertical-align:top"><table class=3D"paragraph_block blo=
ck-1" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rspace:0;word-break=
:break-word"><tr><td class=3D"pad"><div style=3D"color:#686b82;direction:lt=
r;font-family:Helvetica,Arial,Sans-serif;font-size:14px;font-weight:400;let=
ter-spacing:0;line-height:1.2;text-align:left;mso-line-height-alt:17px">=0A=
<p style=3D"margin:0"><style>=0A  @media (prefers-color-scheme: dark) {=0A=
=0A    .wb-box[style*=3D"background-color:#F6F5F9"],=0A    .wb-box[style*=
=3D"background-color: #F6F5F9"] {=0A      background-color: #F6F5F9 !import=
ant;=0A      border-color: #d0cdc8 !important;=0A    }=0A=0A    .wb-text[st=
yle*=3D"color:#101114"],=0A    .wb-text[style*=3D"color: #101114"] {=0A    =
  color: #101114 !important;=0A    }=0A  }=0A=0A  [data-ogsc] .wb-box[style=
*=3D"background-color:#F6F5F9"],=0A  [data-ogsc] .wb-box[style*=3D"backgrou=
nd-color: #F6F5F9"] {=0A    background-color: #F6F5F9 !important;=0A    bor=
der-color: #d0cdc8 !important;=0A  }=0A=0A  [data-ogsc] .wb-text[style*=3D"=
color:#101114"],=0A  [data-ogsc] .wb-text[style*=3D"color: #101114"] {=0A  =
  color: #101114 !important;=0A  }=0A=0A  [data-ogsb] .wb-box[style*=3D"bac=
kground-color:#F6F5F9"],=0A  [data-ogsb] .wb-box[style*=3D"background-color=
: #F6F5F9"] {=0A    background-color: #F6F5F9 !important;=0A    border-colo=
r: #d0cdc8 !important;=0A  }=0A=0A  [data-ogsb] .wb-text[style*=3D"color:#1=
01114"],=0A  [data-ogsb] .wb-text[style*=3D"color: #101114"] {=0A    color:=
 #101114 !important;=0A  }=0A=0A  .dark-mode .wb-box[style*=3D"background-c=
olor:#F6F5F9"],=0A  .dark-mode .wb-box[style*=3D"background-color: #F6F5F9"=
] {=0A    background-color: #F6F5F9 !important;=0A    border-color: #d0cdc8=
 !important;=0A  }=0A=0A  .dark-mode .wb-text[style*=3D"color:#101114"],=0A=
  .dark-mode .wb-text[style*=3D"color: #101114"] {=0A    color: #101114 !im=
portant;=0A  }=0A=0A  [data-color-mode=3D"dark"] .wb-box[style*=3D"backgrou=
nd-color:#F6F5F9"],=0A  [data-color-mode=3D"dark"] .wb-box[style*=3D"backgr=
ound-color: #F6F5F9"] {=0A    background-color: #F6F5F9 !important;=0A    b=
order-color: #d0cdc8 !important;=0A  }=0A=0A  [data-color-mode=3D"dark"] .w=
b-text[style*=3D"color:#101114"],=0A  [data-color-mode=3D"dark"] .wb-text[s=
tyle*=3D"color: #101114"] {=0A    color: #101114 !important;=0A  }=0A</styl=
e>=0A=0A</div></td></tr></table></td></tr></tbody></table></td></tr></tbody=
></table>=0A<table class=3D"row row-2" align=3D"center" width=3D"100%" bord=
er=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D=
"mso-table-lspace:0;mso-table-rspace:0">=0A<tbody><tr><td><table class=3D"r=
ow-content stack" align=3D"center" border=3D"0" cellpadding=3D"0" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rspace=
:0;background-color:#f6f5f9;border-radius:0;color:#000;width:580px;margin:0=
 auto" width=3D"580"><tbody><tr><td class=3D"column column-1" width=3D"100%=
" style=3D"mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align=
:left;padding-bottom:16px;padding-left:30px;padding-right:30px;padding-top:=
24px;vertical-align:top"><table class=3D"image_block block-1" width=3D"100%=
" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" st=
yle=3D"mso-table-lspace:0;mso-table-rspace:0"><tr><td class=3D"pad" style=
=3D"width:100%" align=3D"left"><div style=3D"max-width:78px"><a href=3D"htt=
ps://link.kraken.com/f/a/1gYZ_k9Gg7PwIqp-Df_3wQ~~/AAQRxRA~/dMnE-2wW68zC78mO=
1ru8PPcdHFFIG6M0XQh7380uQYh8cWXGj9j_M2GdAdbQJ7QBGmRbQJWcdVOMwc5hWfdv_O3fYAP=
6b6XKVxjxt2OKK5g1vazLFappslMoG_DVKdUlegptKUZKPy-Ls4o8zXjcfw~~" target=3D"_b=
lank"><img src=3D"https://braze-images.com/appboy/communication/assets/imag=
e_assets/images/69961536e1904f00630bebb8/original.png=3F1771443509" style=
=3D"display:block;height:auto;border:0;width:100%" width=3D"78" alt=3D"Krak=
en Pro logo" title=3D"Kraken Pro logo" height=3D"auto"></a></div></td></tr>=
</table></td></tr></tbody></table></td></tr></tbody>=0A</table>=0A<table cl=
ass=3D"row row-3" align=3D"center" width=3D"100%" border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;=
mso-table-rspace:0;background-size:auto"><tbody><tr><td><table class=3D"row=
-content stack" align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rspace:0=
;background-color:#101114;background-size:auto;border-radius:20px 20px 0 0;=
color:#000;width:580px;margin:0 auto" width=3D"580"><tbody><tr><td class=3D=
"column column-1" width=3D"100%" style=3D"mso-table-lspace:0;mso-table-rspa=
ce:0;font-weight:400;text-align:left;padding-left:30px;padding-right:30px;p=
adding-top:40px;vertical-align:top">=0A<table class=3D"heading_block block-=
1" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"=
presentation" style=3D"mso-table-lspace:0;mso-table-rspace:0"><tr><td class=
=3D"pad" style=3D"width:100%;padding-bottom:16px" align=3D"center"><h1 styl=
e=3D"margin:0;color:#fff;direction:ltr;font-family:Helvetica,Arial,Sans-ser=
if;font-size:56px;font-weight:400;letter-spacing:normal;line-height:1.2;tex=
t-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:67px"><span c=
lass=3D"tinyMce-placeholder" style=3D"word-break: break-word;">Only one ste=
p left</span></h1></td></tr></table>=0A<table class=3D"paragraph_block bloc=
k-2" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rspace:0;word-break=
:break-word"><tr><td class=3D"pad" style=3D"padding-bottom:24px"><div style=
=3D"color:#fff;direction:ltr;font-family:Helvetica,Arial,Sans-serif;font-si=
ze:18px;font-weight:400;letter-spacing:0;line-height:1.6;text-align:left;ms=
o-line-height-alt:29px"><p style=3D"margin:0">No new funds needed. One marg=
in trade =E2=80=94 as small as you like.</p></div></td></tr></table>=0A<tab=
le class=3D"button_block block-3" width=3D"100%" border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;=
mso-table-rspace:0"><tr><td class=3D"pad" align=3D"left"><a href=3D"https:/=
/link.kraken.com/f/a/lF5yf78ZdgN91HsmeZRhSg~~/AAQRxRA~/can_ZziTRR4bxBrb5eOh=
RkfiX1Zq3MWM-vyj1proiFxgCVdJIrwe8LzOSoA-LCcpORlW-oqW_y9wlKyrQAnEexK17BmjS1Q=
xN-dwMhCwTuQW4lXEvp5Hppt7jozc79mYqOsmy_s9vbxWXcLbtChbxg~~" target=3D"_blank=
" style=3D"color:#101114;text-decoration:none;"><!--[if mso]>=0A<v:roundrec=
t xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsof=
t-com:office:word"  href=3D"https://link.kraken.com/f/a/lF5yf78ZdgN91HsmeZR=
hSg~~/AAQRxRA~/can_ZziTRR4bxBrb5eOhRkfiX1Zq3MWM-vyj1proiFxgCVdJIrwe8LzOSoA-=
LCcpORlW-oqW_y9wlKyrQAnEexK17BmjS1QxN-dwMhCwTuQW4lXEvp5Hppt7jozc79mYqOsmy_s=
9vbxWXcLbtChbxg~~"  style=3D"height:42px;width:111px;v-text-anchor:middle;"=
 arcsize=3D"2223%" fillcolor=3D"#ffffff">=0A<v:stroke dashstyle=3D"Solid" w=
eight=3D"1px" color=3D"#ffffff"/>=0A<w:anchorlock/>=0A<v:textbox inset=3D"0=
px,0px,0px,0px">=0A<center dir=3D"false" style=3D"color:#101114;font-family=
:sans-serif;font-size:16px">=0A<![endif]-->=0A<span class=3D"button" style=
=3D"background-color: #ffffff; mso-shading: transparent; border-bottom: 1px=
 solid #ffffff; border-left: 1px solid #ffffff; border-radius: 1000px; bord=
er-right: 1px solid #ffffff; border-top: 1px solid #ffffff; color: #101114;=
 display: inline-block; font-family: Helvetica, Arial, Sans-serif; font-siz=
e: 16px; font-weight: 400; mso-border-alt: none; padding-bottom: 10px; padd=
ing-top: 10px; padding-left: 18px; padding-right: 18px; text-align: center;=
 width: auto; word-break: keep-all; letter-spacing: normal;"><span style=3D=
"word-break: break-word; line-height: 22.4px;">Trade now</span></span>=0A<!=
--[if mso]></center></v:textbox></v:roundrect><![endif]--></a></td></tr></t=
able>=0A<table class=3D"image_block block-4" width=3D"100%" border=3D"0" ce=
llpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-=
lspace:0;mso-table-rspace:0"><tr><td class=3D"pad" style=3D"width:100%;padd=
ing-top:40px;padding-bottom:60px" align=3D"center"><div class=3D"fullWidth"=
 style=3D"max-width:338px"><a href=3D"https://link.kraken.com/f/a/q5oeip5cf=
Qn4QC4eL_QWwg~~/AAQRxRA~/can_ZziTRR4bxBrb5eOhRkfiX1Zq3MWM-vyj1proiFxgCVdJIr=
we8LzOSoA-LCcpC_2Lfj57a-8X-9aatjFolU3t5fbmzc9wDYemRYME_hO6vyVD3vu7HzSMxSsh2=
XJ6VGZ01Hy9IhjKZG-UgvxbMw~~" target=3D"_blank"><img src=3D"https://braze-im=
ages.com/appboy/communication/assets/image_assets/images/69dd382bedd53a00c4=
a92a52/original.png=3F1776105514" style=3D"display:block;height:auto;border=
:0;width:100%;border-radius:16px 16px 0 0" width=3D"338" alt=3D"Only one st=
ep left" title=3D"Only one step left" height=3D"auto"></a></div></td></tr><=
/table>=0A</td></tr></tbody></table></td></tr></tbody></table>=0A<table cla=
ss=3D"row row-4" align=3D"center" width=3D"100%" border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;=
mso-table-rspace:0"><tbody><tr><td><table class=3D"row-content stack" align=
=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presen=
tation" style=3D"mso-table-lspace:0;mso-table-rspace:0;background-color:#ff=
f;border-radius:0;color:#000;width:580px;margin:0 auto" width=3D"580"><tbod=
y><tr><td class=3D"column column-1" width=3D"100%" style=3D"mso-table-lspac=
e:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:32px;pa=
dding-right:32px;vertical-align:top"><div class=3D"spacer_block block-1" st=
yle=3D"height:40px;line-height:40px;font-size:1px">=E2=80=8A</div></td></tr=
></tbody></table></td></tr></tbody></table>=0A<table class=3D"row row-5" al=
ign=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D=
"0" role=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rspace:0"><=
tbody><tr><td><table class=3D"row-content stack" align=3D"center" border=3D=
"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-=
table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radius:0;col=
or:#000;width:580px;margin:0 auto" width=3D"580"><tbody><tr><td class=3D"co=
lumn column-1" width=3D"100%" style=3D"mso-table-lspace:0;mso-table-rspace:=
0;font-weight:400;text-align:left;padding-bottom:48px;padding-left:32px;pad=
ding-right:32px;vertical-align:top">=0A<table class=3D"paragraph_block bloc=
k-1" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rspace:0;word-break=
:break-word"><tr><td class=3D"pad"><div style=3D"color:#101114;direction:lt=
r;font-family:Helvetica,Arial,Sans-serif;font-size:16px;font-weight:400;let=
ter-spacing:0;line-height:1.4;text-align:left;mso-line-height-alt:22px">=0A=
<p style=3D"margin:0;margin-bottom:16px">Margin is live on your account. Se=
e how it works.<br><br>You=E2=80=99re trading with assets already in your a=
ccount. The only thing that changes is what you can do with them.</p>=0A<p =
style=3D"margin:0"><strong>Bigger trades, same funds</strong><br>Take advan=
tage of market moves with up to <strong>10x more leverage</strong>.&nbsp;<b=
r><br></p>=0A</div></td></tr></table>=0A<table class=3D"list_block block-2"=
 width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" style=3D"mso-table-lspace:0;mso-table-rspace:0;word-break:break=
-word;color:#101114;direction:ltr;font-family:Helvetica,Arial,Sans-serif;fo=
nt-size:16px;font-weight:400;letter-spacing:0;line-height:1.4;text-align:le=
ft;mso-line-height-alt:22px"><tr><td class=3D"pad" style=3D"padding-bottom:=
18px"><div style=3D"margin-left:-20px"><ol start=3D"1" style=3D"margin-top:=
0;margin-bottom:0;list-style-type:decimal">=0A<li style=3D"Margin:0 0 6px 0=
">Review your exact cost</li>=0A<li style=3D"Margin:0 0 6px 0">Set a stop-l=
oss</li>=0A<li style=3D"Margin:0 0 6px 0">Place your trade</li>=0A</ol></di=
v></td></tr></table>=0A<table class=3D"paragraph_block block-3" width=3D"10=
0%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tr><=
td class=3D"pad"><div style=3D"color:#101114;direction:ltr;font-family:Helv=
etica,Arial,Sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line=
-height:1.4;text-align:left;mso-line-height-alt:22px"><p style=3D"margin:0"=
>=0AOne small trade. That=E2=80=99s all it takes to see what margin can do.=
</p></div></td></tr></table>=0A</td></tr></tbody></table></td></tr></tbody>=
</table>=0A<table class=3D"row row-6" align=3D"center" width=3D"100%" borde=
r=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"=
mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class=3D"row-c=
ontent stack" align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rspace:0=
;background-color:#fff;border-radius:0;color:#000;width:580px;margin:0 auto=
" width=3D"580"><tbody><tr><td class=3D"column column-1" width=3D"100%" sty=
le=3D"mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left=
;padding-bottom:48px;padding-left:32px;padding-right:32px;vertical-align:to=
p">=0A<table class=3D"heading_block block-1" width=3D"100%" border=3D"0" ce=
llpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-=
lspace:0;mso-table-rspace:0">=0A<tr><td class=3D"pad" style=3D"width:100%;p=
adding-bottom:18px" align=3D"center"><h1 style=3D"margin:0;color:#101114;di=
rection:ltr;font-family:Helvetica,Arial,Sans-serif;font-size:24px;font-weig=
ht:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;m=
argin-bottom:0;mso-line-height-alt:29px"><a href=3D"https://link.kraken.com=
/f/a/9DCxbk8kslOkLVx263qDHg~~/AAQRxRA~/can_ZziTRR4bxBrb5eOhRmnqfAX9VkRvyn4a=
lWFIxq8VxBz-vkdoXI12sZKHGFMQfHBjonic-9E1TeYooIz69udUdWVyy6vuZppgEC7fImDrdVb=
pJDY6mtxD4kZ6oE_z98bygffYEqZ-dtWKKe96LA~~" style=3D"text-decoration: underl=
ine; color: #101114;"><strong>How to trade and manage margin</strong></a></=
h1></td></tr>=0A</table>=0A<table class=3D"video_block block-2" width=3D"10=
0%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0;mso-table-rspace:0"><tr style=3D"box-sizing:con=
tent-box"><td class=3D"pad" style=3D"box-sizing:content-box;width:100%;padd=
ing-top:10px" width=3D"100%">=0A<!--[if (mso)|(IE)]><table width=3D"516" al=
ign=3D"center" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation"><t=
r><td><![endif]--><div class=3D"sizer" align=3D"center" style=3D"box-sizing=
:content-box;max-width:516px;min-width:320px">=0A<!--[if !vml]><!--><a clas=
s=3D"video-preview" tabindex=3D"0" href=3D"https://link.kraken.com/f/a/Y05V=
tl5tGUT8RKQOaEswVA~~/AAQRxRA~/yiS3UqaVs0UvHerY65xJM4B5ycQf_m4rRjllQQ7RntnJM=
vMXK8U_eTS5DAVgPM9RSbIEq_kJawiAu9lzk5_SHej0ulPCh6aj766aUXklcKlWSbVze0U3Qs9u=
y8aIVfLA" target=3D"_blank" title=3D"How to trade with margin in Kraken Pro=
" style=3D"box-sizing: content-box; background-color: #5b5f66; background-i=
mage: radial-gradient(circle at center, #5b5f66, #1d1f21); display: block; =
text-decoration: none;"><div style=3D"box-sizing:content-box"><table cellpa=
dding=3D"0" cellspacing=3D"0" border=3D"0" width=3D"100%" background=3D"htt=
ps://img.youtube.com/vi/T_sT3VfMx94/maxresdefault.jpg" role=3D"presentation=
" style=3D"mso-table-lspace:0;mso-table-rspace:0;box-sizing:content-box;bac=
kground-image:url(https://img.youtube.com/vi/T_sT3VfMx94/maxresdefault.jpg)=
;background-size:cover;background-position:center;min-height:180px;min-widt=
h:320px"><tr style=3D"box-sizing:content-box">=0A<td width=3D"25%" style=3D=
"box-sizing:content-box"><img src=3D"https://braze-social-icons.s3.amazonaw=
s.com/multiparser/video_block/video_ratio_16-9.gif" width=3D"100%" border=
=3D"0" alt style=3D"display:block;box-sizing:content-box;height:auto;opacit=
y:0;visibility:hidden" height=3D"auto"></td>=0A<td width=3D"50%" align=3D"c=
enter" valign=3D"middle" style=3D"box-sizing:content-box;vertical-align:mid=
dle"><img src=3D"https://braze-social-icons.s3.amazonaws.com/components/wid=
getBar/video-content-icon-sets/light/type-01.png" width=3D"65" height=3D"au=
to" alt=3D"Play" style=3D"display:block;height:auto;box-sizing:content-box"=
></td>=0A<td width=3D"25%" style=3D"box-sizing:content-box">=C2=A0</td>=0A<=
/tr></table></div></a><!--<![endif]--><!--[if vml]>=0A<v:group xmlns:v=3D"u=
rn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:w=
ord" coordsize=3D"516,290" coordorigin=3D"0,0" href=3D"https://link.kraken.=
com/f/a/Y05Vtl5tGUT8RKQOaEswVA~~/AAQRxRA~/yiS3UqaVs0UvHerY65xJM4B5ycQf_m4rR=
jllQQ7RntnJMvMXK8U_eTS5DAVgPM9RSbIEq_kJawiAu9lzk5_SHej0ulPCh6aj766aUXklcKlW=
SbVze0U3Qs9uy8aIVfLA" style=3D"width:516px;height:290px;">=0A<v:rect fill=
=3D"t" stroked=3D"f" style=3D"position:absolute;width:516;height:290;">=0A<=
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e=3D"frame"/>=0A</v:rect>=0A<v:oval fill=3D"t" strokecolor=3D"#ffffff" stro=
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pe coordsize=3D"24,32" path=3D"m,l,32,24,16,xe" fillcolor=3D"#000000" strok=
ed=3D"f" style=3D"position:absolute;left:249;top:129;width:23;height:33;" /=
>=0A</v:group>=0A<![endif]-->=0A</div>=0A<!--[if (mso)|(IE)]></td></tr></ta=
ble><![endif]-->=0A</td></tr></table>=0A<div class=3D"spacer_block block-3"=
 style=3D"height:24px;line-height:24px;font-size:1px">=E2=80=8A</div>=0A</t=
d></tr></tbody></table></td></tr></tbody></table>=0A<table class=3D"row row=
-7" align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rspac=
e:0"><tbody><tr><td><table class=3D"row-content stack" align=3D"center" bor=
der=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=
=3D"mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radi=
us:0 0 16px 16px;color:#000;width:580px;margin:0 auto" width=3D"580"><tbody=
><tr><td class=3D"column column-1" width=3D"100%" style=3D"mso-table-lspace=
:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:40px;p=
adding-left:32px;padding-right:32px;vertical-align:top;border-radius:0">=0A=
<table class=3D"divider_block block-1" width=3D"100%" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace=
:0;mso-table-rspace:0"><tr><td class=3D"pad" align=3D"center"><table border=
=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" width=3D"1=
00%" style=3D"mso-table-lspace:0;mso-table-rspace:0"><tr><td class=3D"divid=
er_inner" style=3D"font-size:1px;line-height:1px;border-top:1px solid #d0cd=
c8"><span style=3D"word-break: break-word;">=E2=80=8A</span></td></tr></tab=
le></td></tr></table>=0A<div class=3D"spacer_block block-2" style=3D"height=
:32px;line-height:32px;font-size:1px">=0A=E2=80=8A</div>=0A<table class=3D"=
paragraph_block block-3" width=3D"100%" border=3D"0" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;mso-table-r=
space:0;word-break:break-word"><tr>=0A<td class=3D"pad"><div style=3D"color=
:#686b82;direction:ltr;font-family:Helvetica,Arial,Sans-serif;font-size:12p=
x;font-weight:400;letter-spacing:0;line-height:1.4;text-align:left;mso-line=
-height-alt:17px"><p style=3D"margin:0">=0A<a href=3D"https://link.kraken.c=
om/f/a/0cIdC1vtMZ4SO_qCJJkUuQ~~/AAQRxRA~/dMnE-2wW68zC78mO1ru8PPcdHFFIG6M0XQ=
h7380uQYh8cWXGj9j_M2GdAdbQJ7QBOOG_c_9mh2ZfqnJSfsdKJ7mianbD-F6ehdXHJp6OEON5W=
-SrtITOXmJUq29EulCIbNkQ-wla9XkkNK7X0xpJzA~~" target=3D"_blank" style=3D"tex=
t-decoration: underline; color: #686b82;" rel=3D"noopener">Sign in</a>&nbsp=
; =E2=80=A2&nbsp; <a href=3D"https://link.kraken.com/f/a/Co6qsfA_eg-hUVpQj2=
mqTw~~/AAQRxRA~/dMnE-2wW68zC78mO1ru8PPcdHFFIG6M0XQh7380uQYh8cWXGj9j_M2GdAdb=
QJ7QBW3WZkk8zedr0WFud5tRD-PcOLkRwWS8TVF4CGjphkWvA6XtWUFY4ob_1VYTecskvDTI5Zr=
jbdDOvfWtkjRbBKg~~" target=3D"_blank" style=3D"text-decoration: underline; =
color: #686b82;" rel=3D"noopener"></a><a href=3D"https://link.kraken.com/f/=
a/u3SnDsXDJgyTIzaHlXIb8w~~/AAQRxRA~/fgNhquJFz3mY4DVzas6UKQ47rHFRBl9kDvS3-fP=
9lEGL4frXivYCaLZMK3WZhG14XKOG_UGp4bxvUKMWEO_EGfXhYyI48F1YhQRP9M4IYYabgf1Gv0=
8ztxpmJ1WZaXvgf5hDmZhR6DvB3SRlxMKWWg~~" target=3D"_blank" style=3D"text-dec=
oration: underline; color: #686b82;" rel=3D"noopener">Get support</a></p></=
div></td>=0A</tr></table>=0A<div class=3D"spacer_block block-4" style=3D"he=
ight:24px;line-height:24px;font-size:1px">=E2=80=8A</div>=0A<table class=3D=
"social_block block-5" width=3D"100%" border=3D"0" cellpadding=3D"0" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rsp=
ace:0"><tr><td class=3D"pad" align=3D"left"><table class=3D"social-table" w=
idth=3D"217px" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pre=
sentation" style=3D"mso-table-lspace:0;mso-table-rspace:0"><tr>=0A<td style=
=3D"padding:0">=0A<a href=3D"https://link.kraken.com/f/a/zNK4PVcTVaFKt932E6=
hNsw~~/AAQRxRA~/wDsAT-nUajddWaSmX5aEvpMN4HO47dK5EtHjWckCM0cr_RujHjjJ0p_WlWF=
r3WV6sLPpGBxCA3De3BcQMK5PPw3zTIbcArG7xHzpFyCInxsvK0hk3WXMV19NC9lQmYMj" targ=
et=3D"_blank"><img src=3D"https://braze-images.com/appboy/communication/ass=
ets/image_assets/images/699ef76c9145e40063296129/original.png=3F1772025708"=
 width=3D"32" height=3D"auto" alt=3D"kraken.com" title=3D"Kraken" style=3D"=
display:block;height:auto;border:0"></a>=0A</td>=0A<td style=3D"padding:0 0=
 0 5px"><a href=3D"https://link.kraken.com/f/a/2oiYAE3ZRSw47WObORw6Rg~~/AAQ=
RxRA~/cVGAu5UhI-qqr4NR9ZqnGerWL-J8UPZIDb-NBJ2mvi3GCAE3dmJHwuXXKuMuO8nZCvc1v=
B6DaFIB-3LK4bCvMU7IyINSFcnqKFBy95c-1E06FJk3OmHbphbMmGrb0a3GHcNCA6fJfCA22oHK=
KqJE-g~~" target=3D"_blank"><img src=3D"https://braze-images.com/appboy/com=
munication/assets/image_assets/images/699ef76ca53970006362db25/original.png=
=3F1772025708" width=3D"32" height=3D"auto" alt=3D"Kraken on Facebook" titl=
e=3D"Facebook" style=3D"display:block;height:auto;border:0"></a></td>=0A<td=
 style=3D"padding:0 0 0 5px"><a href=3D"https://link.kraken.com/f/a/n9OE_yr=
5matG2my7s4zZnw~~/AAQRxRA~/BBwLwfqn8YM-_J7wiYPBsywfiVheZAR4LJNX0f1mE21aL1OE=
OmYF8n3twC0MGzZe9OgHQJo0m0HbBK4zMUm6NWGfqGXv6nOOWICBer8Apho~" target=3D"_bl=
ank"><img src=3D"https://braze-images.com/appboy/communication/assets/image=
_assets/images/699ef76c8d1daa00631c0068/original.png=3F1772025708" width=3D=
"32" height=3D"auto" alt=3D"Kraken on X" title=3D"Twitter" style=3D"display=
:block;height:auto;border:0"></a></td>=0A<td style=3D"padding:0 0 0 5px"><a=
 href=3D"https://link.kraken.com/f/a/Qh5duKJsroojfZiOpRzpfw~~/AAQRxRA~/pRlZ=
U6sjTdinZlCT_BU05IM97zkcXgUzApcUPOfcv_zuWq1ckWEr3x-54Hrgkg-GW24mLLorT6BOx6T=
VTXFuSWA4ud3uFbgmK-J87cu3cQ25h4WBELeYBtTIRgmCKtBx9SCVogXF50GSnt-cY6YiRA~~" =
target=3D"_blank"><img src=3D"https://braze-images.com/appboy/communication=
/assets/image_assets/images/699ef76cf0089800649bbc4f/original.png=3F1772025=
708" width=3D"32" height=3D"auto" alt=3D"Kraken on Instagram" title=3D"Inst=
agram" style=3D"display:block;height:auto;border:0"></a></td>=0A<td style=
=3D"padding:0 0 0 5px">=0A<a href=3D"https://link.kraken.com/f/a/zY0y-Ce_Jr=
_l3hy2Mebgeg~~/AAQRxRA~/E04IU_edV-bZJC9TxXCQ6j-couEne-7pCgaPRqjqLFoxIzrL9GM=
R5XsiVa2OX0VPxruLYMocy9cJS5ptwyTtixKp8jlp7cKhT7bMmP2_klR-jOgJh9XscWYPVVjGHF=
lT6sqW-Aw7-QJPVUMzMC557A~~" target=3D"_blank"><img src=3D"https://braze-ima=
ges.com/appboy/communication/assets/image_assets/images/699ef76d9b18ec00636=
8c045/original.png=3F1772025708" width=3D"32" height=3D"auto" alt=3D"Kraken=
 on LinkedIn" title=3D"LinkedIn" style=3D"display:block;height:auto;border:=
0"></a>=0A</td>=0A<td style=3D"padding:0 0 0 5px"><a href=3D"https://link.k=
raken.com/f/a/Nx2W8pX2uAggINwZNmrxUw~~/AAQRxRA~/MrCjHiYbBpS-gdtBI8q6mOvYV7I=
t4MyBpiJ0-2ZqEH__FJrTB-ma0etGvmBNDXkvolWuqfx7-Jsb3XydWILA76Bc3qZ2_0Jbtn1_Es=
FcZpZ16wzr9V1fSggEqlQo4yHPNLLxPwIix46Zr0Ewgb7BQw~~" target=3D"_blank"><img =
src=3D"https://braze-images.com/appboy/communication/assets/image_assets/im=
ages/699ef76c6840250063f7fab1/original.png=3F1772025708" width=3D"32" heigh=
t=3D"auto" alt=3D"Kraken on YouTube" title=3D"YouTube" style=3D"display:blo=
ck;height:auto;border:0"></a></td>=0A</tr></table></td></tr></table>=0A<div=
 class=3D"spacer_block block-6" style=3D"height:20px;line-height:20px;font-=
size:1px">=E2=80=8A</div>=0A<table class=3D"paragraph_block block-7" width=
=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presenta=
tion" style=3D"mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"=
><tr><td class=3D"pad"><div style=3D"color:#686b82;direction:ltr;font-famil=
y:Helvetica,Arial,Sans-serif;font-size:12px;font-weight:400;letter-spacing:=
0;line-height:1.4;text-align:left;mso-line-height-alt:17px">=0A<p style=3D"=
margin:0;margin-bottom:0">=0ASpot margin trading involves substantial risk =
and is not suitable for everyone. Losses may exceed the initial investment,=
 and additional collateral may be required. While leverage can increase pot=
ential returns, it also significantly increases risk. Leverage available ma=
y vary by asset. Past performance is not necessarily indicative of future r=
esults. Availability of spot margin trading through Kraken Derivatives US i=
s subject to certain limitations and eligibility criteria. <a href=3D"https=
://link.kraken.com/f/a/zgMdsqoFXIuRvz8TOuqTAA~~/AAQRxRA~/Q1GNcqquqjPjTJ7cy3=
4OLLbp918XZyEhc825qXHnhkE5Z21MzcubHFMThXLEcnZlKmigFuUwzj7tKL0dlqFEewYqtRtsJ=
wxbTN22VdNfGcXZDlTJLWr4Oxw849YGNP-XJQRF3jV_iE0XpBz5PQLVkJmC39sYogaTlIJ31PkI=
daA~" style=3D"text-decoration: underline; color: #686b82;"><strong>View Ri=
sk Disclosure Statement</strong></a>.=0A</p>=0A<p style=3D"margin:0"><br>Sp=
ot margin trading is provided by NinjaTrader Clearing, LLC d/b/a Kraken Der=
ivatives US, a CFTC-registered Futures Commission Merchant and NFA Member (=
NFA ID: 0309379), with financing provided by Payward Accredited LLC. <a hre=
f=3D"https://link.kraken.com/f/a/gflkE8bKArxxX1rgpi9Nkg~~/AAQRxRA~/MrCjHiYb=
BpS-gdtBI8q6mBeDPrVcWKbQ2nPTc4H8kLahQCMUp35udSafz770SAiurYLI4l4RAEAkjMaQGyF=
i5jmLKC-i1t6u7b5zhGmg9tiauoX_npq5-1_X8SvjY3kPBq_ek2PvJjUccSokK-qobw~~" styl=
e=3D"text-decoration: underline; color: #686b82;"><strong>View Disclosures<=
/strong></a>.</p>=0A</div></td></tr></table>=0A<div class=3D"spacer_block b=
lock-8" style=3D"height:24px;line-height:24px;font-size:1px">=E2=80=8A</div=
>=0A<table class=3D"image_block block-9" width=3D"100%" border=3D"0" cellpa=
dding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspa=
ce:0;mso-table-rspace:0"><tr><td class=3D"pad" style=3D"width:100%" align=
=3D"left"><div style=3D"max-width:129px"><a href=3D"https://link.kraken.com=
/f/a/_uMjcjeoMCYdF-WGEwC7lg~~/AAQRxRA~/629jwxOl4bNcvfHHRVx9yIuBg1cv_AadNn39=
jNa-tE_RX-ErLQNoQKOYLiUxyUE53wHeuqCiU-82Wk52Uj-EDvwvylyMZt4ln59mmvj1s1hsUKE=
Z88N9AMlTJnuzAv3r" target=3D"_blank"><img src=3D"https://braze-images.com/a=
ppboy/communication/assets/image_assets/images/69972b614f2b5d00633da175/ori=
ginal.png=3F1771514721" style=3D"display:block;height:auto;border:0;width:1=
00%" width=3D"129" alt=3D"Payward Logo" title=3D"Payward Logo" height=3D"au=
to"></a></div></td></tr></table>=0A<div class=3D"spacer_block block-10" sty=
le=3D"height:12px;line-height:12px;font-size:1px">=E2=80=8A</div>=0A<table =
class=3D"paragraph_block block-11" width=3D"100%" border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;=
mso-table-rspace:0;word-break:break-word"><tr><td class=3D"pad"><div style=
=3D"color:#686b82;direction:ltr;font-family:Helvetica,Arial,Sans-serif;font=
-size:12px;font-weight:400;letter-spacing:0;line-height:1.4;text-align:left=
;mso-line-height-alt:17px"><p style=3D"margin:0">=0A=C2=A9 Payward Interact=
ive, Inc. 2026<br>=0A=0A</p></div></td></tr></table>=0A<table class=3D"para=
graph_block block-12" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0;mso-table-rspa=
ce:0;word-break:break-word"><tr><td class=3D"pad"><div style=3D"color:#686b=
82;direction:ltr;font-family:Helvetica,Arial,Sans-serif;font-size:12px;font=
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