Kraken Parent Payward Suffers 71% Profit Plunge Amid Crypto Trading Slowdown

Payward, the parent company of the Kraken cryptocurrency exchange, reported a significant decline in second-quarter profits due to reduced trading volumes across the digital asset sector. In the three months ended June 30, 2026, the firm recorded adjusted pretax earnings of $23 million, representing a 71 percent drop from the $79.7 million reported in the same period a year earlier.

Despite this decline, Payward pointed to several positive indicators, including a 42 percent increase in funded accounts to a record 6.6 million and assets held on the platform standing at $40 billion.

The company also saw growth in traditional futures, equities, and tokenized equities, which helped offset softer crypto spot volumes. Asset-based and other non-trading revenue accounted for 60 percent of total revenue, up from 55 percent a year earlier.