Kraken Q2 2025 financial highlights
Main Idea
Kraken is expanding its multi-asset trading platform, reporting strong Q2 2025 financial performance and regulatory advancements, while focusing on transparency and future growth initiatives.
Key Points
1. Kraken reported Q2 2025 revenue of $412M, an 18% year-over-year increase, with adjusted EBITDA at $80M and total exchange volume of $186.8B, up 19% year-over-year.
2. Funded accounts grew to 4.4M in Q2 2025, a 37% year-over-year increase, with assets on platform reaching $43.2B, up 47% year-over-year.
3. Kraken launched new products in Q2, including commission-free crypto trading, Kraken Custody with reward-bearing USDG, and added custody support for SOL and XRP.
4. Kraken became the first exchange authorized by the Central Bank of Ireland under MiCA and secured a Restricted Dealer license in Canada, expanding its regulatory footprint.
5. The company completed its latest Proof of Reserves report as of June 30, 2025, ensuring client assets are fully backed, and outlined key initiatives for H2 2025 and beyond to build a new financial system.
Description
Kraken is in build mode. We are creating a multi-asset platform that enables anyone to trade anything, anytime, anywhere. In Q2, our pace accelerated — new products launched, global access expanded and infrastructure scaled. We are pushing the envelope on geo expansion and establishing ourselves as the infrastructure provider that will power the next generation of financial services. From crypto to stocks to tokenized assets , we are redefining what’s possible and ensuring more people can access...
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