Kraken's Q3 Revenue Soars 114% to $648 Million Amid IPO Plans

2025-10-22 21:48

Kraken reported a significant 114% year-over-year increase in third-quarter revenue, reaching $648 million, as the crypto exchange gears up for a US IPO next year. The company, known as Payward Inc., attributes this growth to a surge in trading volume and an increase in funded accounts. Adjusted earnings, excluding taxes and other items, rose to $178.6 million from a negative figure last year. Kraken's total exchange trading volume climbed 106% to $561.9 billion in Q3, while the number of funded accounts increased by 46% to 5.2 million. Additionally, assets on the platform grew 89% to $59.3 billion, reflecting the company's robust performance and expansion in the crypto market.

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