US crypto trading platform Kraken reported Q3 results, with revenue reaching $648 million, an increase of 114% year-on-year and a record high. Adjusted EBITDA was $179 million, and profit margins rose to 27.6%.
In addition, the total transaction volume of the platform increased by 106% year-on-year to $561.90 billion, and the platform assets increased by 89% to $59.30 billion. Kraken's user base also continued to expand, with 5.20 million registered accounts as of the end of the quarter.
Kraken said the growth was mainly due to multiple mergers and acquisitions in 2025 and the ongoing IPO plan.
On Sept. 26, Fortune magazine said Kraken raised $500 million at a $15 billion valuation, amid growing speculation that the company is planning an initial public offering (IPO) sometime in 2026.
Kraken Q3 revenue increased by 114% year-on-year, and total platform transaction volume increased by 106% year-on-year.
2025-10-26 00:46:27
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