Kraken Q2 revenue up 18% to $411.6M despite market dip
Main Idea
Kraken reported an 18% year-on-year revenue increase to $411.6M in Q2 2025 despite a market dip, driven by trading volume growth and user expansion, though profitability declined due to macroeconomic factors.
Key Points
1. Kraken's Q2 2025 revenue rose 18% YoY to $411.6M, despite a 13% QoQ decline, with trading volume up 19% YoY to $186.8B.
2. Funded accounts increased by 37%, and total platform assets grew 47% to $43.2B, supported by product expansions like stablecoin-fiat trading and institutional services.
3. Kraken+ premium tier gained 100,000 subscribers managing over $1B in assets, and the exchange expanded regulatory approvals in Europe.
4. Adjusted EBITDA fell 57% QoQ to $79.7M due to macroeconomic headwinds, including market volatility from new US tariffs.
5. Kraken introduced new services like a full-service prime brokerage and a global money app, strengthening its position in digital asset liquidity.
Description
Kraken posted strong year-on-year growth in Q2 2025, even as revenue and trading volumes dipped compared to the previous quarter. The US-based crypto exchange reported $411.6 million in quarterly revenue, marking an 18% rise over Q2 2024. This increase came despite a 13% quarter-on-quarter decline, attributed to typical seasonal slowdowns and wider macroeconomic pressures. The exchange’s trading volume reached $186.8 billion, up 19% from the same period last year. Kraken also saw significant use...
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