Kraken's Q2 2025 financial results indicate robust revenue growth alongside challenges in adjusted EBITDA due to market volatility and seasonal trends.
Kraken reported Q2 2025 revenue of $412 million, an 18% increase year-over-year, with adjusted EBITDA at $80 million. Total trading volume reached $186.8 billion, a 19% year-over-year rise, despite a sequential decline. Funded accounts grew 37% to 4.4 million, while total platform assets surged 47% to $43.2 billion, reflecting Kraken's strategic investments and product expansions.