Cryptocurrency exchange Kraken has released its financial results for Q1 2025, demonstrating both revenue growth and new strategic initiatives.
Q1 Financial Results
In Q1 2025, Kraken reported revenues of $471.7 million, a 10% increase year-over-year. However, this figure is down from $506.3 million in Q4 2024. The adjusted EBITDA rose to $187.4 million, marking a 1% increase from the previous quarter. The total trading volume hit $208.7 billion, a 29% increase compared to Q1 2024.
NinjaTrader Acquisition
Kraken completed its acquisition of NinjaTrader, enabling the fusion of traditional finance and crypto trading on a single platform. This deal is described as the largest of its kind, allowing traders access to both traditional derivatives and cryptocurrency markets.
User Innovations
Kraken is rolling out new products for its users, including Kraken Pay, which allows for instant payments across 300+ crypto and fiat currencies. Additionally, the redesigned Kraken Consumer app offers asset management tools. Advanced traders and institutional clients benefit from improved tools, such as the FIX API for futures and enhancements to the Kraken Pro platform, including OTC trading tools.
Despite a slight revenue decline quarter-over-quarter, Kraken continues to demonstrate growth and expand its offerings, aiming to build a multi-asset trading platform.
