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The US-based CEX Kraken saw a significant 114% year-over-year revenue increase in Q3, with a corresponding 106% year-over-year growth in platform total trading volume.

2025.10.26 08:48:22

On October 26th, the U.S. cryptocurrency exchange Kraken disclosed its Q3 financial report. The revenue reached $648 million, showing a year-on-year increase of 114% and hitting a new historical high. The adjusted EBITDA was $179 million, and the profit margin rose to 27.6%. In addition, the total trading volume of the platform increased by 106% year-on-year to $561.9 billion, and the platform assets grew by 89% to $59.3 billion. Kraken's user base is also expanding, with the number of registered accounts reaching 5.2 million by the end of this quarter. Kraken stated that the growth was mainly driven by multiple acquisitions in 2025 and the ongoing initial public offering (IPO) plan. On September 26th, Fortune magazine reported that Kraken raised $5 billion at a valuation of $15 billion, with increasing speculation that the company plans to go public with an IPO at some point in 2026. (Cointelegraph)
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