Kraken’s quarterly revenue increased 19% to $472 million in Q1, trading volume increased 29%
Author: Francisco Rodriguez | Edited by: Parikshit Mishra Updated: May 2, 2025, 2:23 PM Published: May 2, 2025, 11:53 AM
Cryptocurrency exchange Kraken reported revenue of $472 million for the first quarter of 2025, up 19% year-over-year despite a decline in the overall crypto market. The exchange’s adjusted EBITDA (earnings before taxes) was $187 million, up 17% year-over-year.
Trading volume on the platform increased 29% year-over-year and the number of funded accounts increased 26%, while assets on the platform decreased 2% to $34.9 billion. Kraken attributed the decline to a decrease in the value of these assets.
However, the main event of the quarter was Kraken’s completion of its acquisition of NinjaTrader, a retail-focused futures and derivatives trading platform.
“This transaction represents the largest combination of traditional finance (TradFi) and cryptocurrency. This strategic acquisition not only expands our business, but also strengthens our position in derivatives for both TradFi and cryptocurrency,” the exchange said in its report.
The deal will allow the exchange to cater to traders who want access to both asset classes in one place. This will give crypto traders the opportunity to trade traditional futures contracts, while NinjaTrader users will be able to access the crypto market.
The move advances Kraken’s ambition to become a multi-functional platform. It comes in the same quarter that Kraken launched a cross-border payments feature, Kraken Pay. It will be complemented by the launch of crypto debit cards in partnership with Mastercard.
Kraken also completed the attestation of Proof of Reserves for the exchange’s crypto custodian as of March 31. The company, which allows users to independently verify their assets on-chain using Merkle tree proofs, said it plans to publish these proofs every quarter.
Your email address will not be published. Required fields are marked *
[…] January 2022, the number of cryptocurrencies existing in the market increased by 1 thousand. This implies that each new…
Your writing is like a breath of fresh air in the often stale world of online content. Your unique perspective…
I would like to share my story and express my great gratitude to Maria. My husband Alexander was literally taken…