Catenaa, Monday, August 04, 2025- Crypto exchange Kraken reported $412 million in revenue for the second quarter of 2025, marking an 18% increase year-over-year but a 13% decline from the previous quarter.
However, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 7% to $79.7 million, down from $85.5 million in Q1.
The company attributed the quarter-over-quarter revenue drop to seasonal market weakness and macroeconomic factors such as U.S. tariffs and broader uncertainties. Total exchange volume grew 19% year-over-year to $186.8 billion, while funded accounts increased 37% to 4.4 million and assets on the platform rose 47% to $43.2 billion.
Kraken expanded its offerings with new futures trading products in Europe and the U.S., including MiFID-regulated crypto futures and access to CME-listed crypto futures. The launch of Kraken Prime aims to serve institutional clients with integrated brokerage services.
The company also broadened its custody services to include Solana, XRP, and reward-bearing USDG tokens. Meanwhile, legal issues involving co-founder Jesse Powell were resolved after the U.S. Department of Justice closed its investigation unrelated to crypto.
Kraken is preparing for a potential initial public offering in 2026.
