Kraken Revenue Soars 114% in Q3 on Expansion and IPO Prospects

Kraken’s revenue exploded in the third quarter of 2025, surging 114% year-over-year to reach $648 million. This marks a record performance for the exchange, fueled by strategic acquisitions, product launches, and increased trading activity. The company attributed this growth to expanded DeFi adoption and growing institutional investment in crypto assets. 27.6% EBITDA margins were also achieved, demonstrating profitability improvements.