Kraken, a US-based cryptocurrency exchange, reported strong financial results for Q3 2025 with record revenue of $648 million, a 47% increase from the previous quarter. The exchange also saw a 124% quarter-over-quarter increase in adjusted EBITDA, reaching $178.6 million.

In addition to the revenue growth, Kraken’s total platform transaction volume rose by 23% to $561.9 billion, and assets on platform increased by 34% to $59.3 billion. The exchange now boasts 5.2 million funded accounts, showing significant growth compared to previous quarters.

Kraken’s success in 2025 was marked by strategic expansions, including the acquisition of Small Exchange for $100 million to launch a US-native derivatives venue. The exchange also introduced xStocks in partnership with Backed, offering tokenized representations of US stocks to international clients.

Overall, Kraken’s strong performance in Q3 2025 underscores its position as a leading player in the cryptocurrency market, with significant revenue growth and expansion into new services and markets.

Read more at Yahoo Finance: Kraken Reports $648M Revenue for Q3, Up 50% From Last Quarter