Kraken revenue jumps 114% in Q3 amid expansion and IPO plans
Kraken reported a 114% year-over-year revenue jump to $648 million in Q3 2025, driven by trading growth and acquisitions.Summary
Kraken announced its strongest financial performance to date in the third quarter of 2025, reporting $648 million in revenue, a 114% increase from the previous year. Adjusted EBITDA reached $178.6 million, with profit margins widening to 27.6%. This growth was fueled by a 106% surge in total trading volume to $561.9 billion and an 89% increase in assets on the platform, bringing the user base to 5.2 million funded accounts.
The results coincide with Kraken's ongoing expansion efforts, which include strategic acquisitions like Breakout for proprietary trading and the launch of its derivatives arm in the US. The exchange is also preparing for a potential initial public offering (IPO) in 2026, following reports that it recently raised $500 million at a $15 billion valuation.
(Source：Cointelegraph)