Kraken Soars Past $600M Revenue Mark as Crypto Exchange Sees Rapid Growth

Kraken, one of the longest-operating crypto exchanges in the United States, has reported its strongest financial quarter to date. In Q3 2025, the exchange posted $648 million in revenue, a 114% increase year-over-year.

This significant growth is attributed to multiple acquisitions throughout 2025 and an expanding user base, which reached 5.2 million funded accounts by quarter-end. The platform's assets grew 89% to $59.3 billion during the same period.

Kraken's total trading volume surged 106% compared to the previous year, hitting $561.9 billion for the quarter. Adjusted EBITDA climbed to $178.6 million as profit margins expanded nine percentage points to reach 27.6%, according to the exchange's announcement.