Kraken Closes NinjaTrader Deal, Achieves $471 Million Revenue in Q1

Kraken, a leading cryptocurrency exchange with an estimated valuation of over $20 billion, delivered strong financial results in the first quarter of 2025, despite witnessing a slowdown in the broader crypto market. The company reported $471.7 million in revenue, representing a 10% increase from Q1 2024, while slightly declining from the $506.3 million generated in Q4 2024. Despite a softening market, Kraken’s adjusted EBITDA saw an upward trend, reaching $187.4 million—a 1% increase compared to the previous quarter. This suggests the exchange remains efficient and well-managed even amid market fluctuations.