U.S. cryptocurrency exchange Kraken announced its Q2 2025 financial report, which showed a 6.8% year-over-year decrease in adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), down to $79.7 million, compared to $85.5 million in the same period of 2024, and a significant downward revision of nearly 57% from $187 million in Q1 of this year.
Kraken stated that the second quarter is traditionally a low season for trading activity in the cryptocurrency market. Additionally, U.S. President Trump has introduced a new wave of tariffs, causing a rise in market risk aversion and general pressure on cryptocurrencies. Bitcoin also hit a yearly low in early April this year, approaching $76,000, significantly undermining market confidence.
In terms of revenue performance, Kraken reported total revenue of $411.6 million for Q2, a decline of about 13% compared to Q1's $471.7 million, but still an 18% growth compared to the same period last year.
In terms of trading volume, although Kraken's Q2 trading volume decreased by 11%, from $208.7 billion to $186.6 billion, the year-over-year growth rate still reached 19%, indicating that the platform maintained a robust user base and trading activity even during market turbulence.
In comparison to competitor Robinhood's (HOOD) Q2 financial report, the revenue from its cryptocurrency business nearly doubled year-over-year, growing from $81 million to $160 million, mainly benefiting from product expansion and a rapid influx of novice users. However, Robinhood's cryptocurrency trading volume during the same period was only $28.3 billion, far less than Kraken's scale, indicating that the latter remains the preferred mainstream platform for large traders.
This article is reprinted with permission from: (Block客)
Original Title: (Rising Risk Aversion and Arrival of Trading Off-Season! Kraken Adjusted EBITDA Decreased by 6.8% in Q2)
Original Author: Block Sister MEL
'Kraken Exchange Financial Report: Adjusted EBITDA Decreased by 6.8%, What are the Reasons for the Performance Decline?' This article was first published on 'Crypto City'
