Kraken Revenue Rises to $411.6 Million in Q2, Up 18% from Last Year
Main Idea
Kraken reported $411.6 million in Q2 revenue, an 18% year-on-year increase, despite a 7% decline in adjusted EBITDA. The exchange is expanding into equities trading and preparing for a potential IPO in 2026.
Key Points
1. Kraken's Q2 revenue rose 18% year-on-year to $411.6 million, though adjusted EBITDA fell 7% to $79.7 million.
2. Exchange volume increased 19% year-on-year to $186.8 billion but declined 11% from the previous quarter.
3. Platform assets surged 47% year-on-year to $43.2 billion, with stablecoin-to-fiat spot trading share rising from 43% to 68%.
4. Kraken launched commission-free equities trading in the U.S. and plans to offer tokenized versions of over 50 U.S. stocks and ETFs for non-U.S. users.
5. The exchange is reportedly preparing to raise $500 million at a $15 billion valuation ahead of a potential IPO in early 2026.
Description
Crypto exchange Kraken reported $411.6 million in revenue for the second quarter, marking an 18% year-on-year increase, according to the company’s latest financial disclosure published Wednesday . Key Takeaways: Kraken posted $411.6 million in Q2 revenue, up 18% year-on-year. Exchange volume rose 19% from last year but declined 11% from the previous quarter. The firm is expanding beyond crypto with commission-free equities and tokenized stock offerings. Despite the revenue growth, Kraken’s adjus...
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