Crypto exchange Kraken saw its revenue grow 18% year-on-year in the second quarter of this year, but its adjusted EBITDA shrank 7%, the company said, citing “market turbulence” amid broader macro uncertainties.
According to its latest disclosure released Wednesday, Kraken reported $411.6 million in revenue in the second quarter of this year, up 18% year-on-year, while its adjusted EBITDA fell 7% to $79.7 million.
Kraken’s total exchange volume grew 19% year-over-year to $186.8 billion in the second quarter, though it declined 11% from the previous quarter. Assets on the platform expanded 47% year-on-year to reach $43.2 billion at the end of the second quarter.
“After a strong Q1, there was market turbulence related to U.S. tariffs and broader macro uncertainties,” Kraken said. “Q2 volumes decelerated quarter-over-quarter, as Q2 tends to be a seasonally lower quarter for trading activity across the industry.”
Kraken also noted that its share of stable-fiat spot volumes grew from 43% to 68% in the second quarter.
The crypto exchange has expanded its product offerings in the past few months. In April, it ventured into commission-free equities trading in the U.S., while expanding crypto derivatives services in Europe in May.
Kraken said it will begin exploring commission-free stock and ETF trading to key markets in the second half of the year, starting with the U.K., Europe and Australia. It also aims to expand access to tokenized equities across more jurisdictions.
The Information reported Tuesday that Kraken is seeking to raise $500 million at a $15 billion valuation ahead of its planned public offering slated for early 2026.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
