Kraken announced $648 million in revenue for Q3 2025, up 114% from the previous year. Adjusted EBITDA rose to $178.6 million with a profit margin of 27.6%. Total trading volume increased by 106% to $561.9 billion, and assets on the platform grew to $59.3 billion, with 5.2 million funded accounts.

Kraken prepares for a potential public listing after a series of acquisitions in 2025. The exchange, founded in 2011, has expanded its offerings with derivatives and tokenized securities platforms. Kraken raised $500 million at a $15 billion valuation in September, fueling IPO speculation for 2026.

Kraken focuses on growth through acquisitions and new product launches in the US crypto market. The exchange recently launched a derivatives arm, entered proprietary trading with the acquisition of Breakout, and introduced a tokenized securities platform for European investors. Kraken aims to disrupt legacy financial systems.

Read more at Cointelegraph: Kraken Posts Record Revenue in Q3 Amid Expansion, IPO Buzz