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Kraken's Q2 Revenue Reaches $4.12 Billion, Up 18% Year-on-Year
Summary: According to Bloomberg, cryptocurrency exchange Kraken reported an increase in revenue for the second quarter, but adjusted earnings slightly decreased as market share grew. The company stated that its Q2 revenue increased by 18% year-on-year to $4.12 billion; adjusted pre-tax profits reached $79.7 million, down about 7% from $85.5 million due to investments in new ...
According to Bloomberg, cryptocurrency exchange Kraken reported an increase in revenue for the second quarter, but adjusted earnings slightly decreased as market share grew. The company stated that its Q2 revenue increased by 18% year-on-year to $4.12 billion; adjusted pre-tax profits reached $79.7 million, down about 7% from $85.5 million due to investments in new products and geographic expansion. Kraken's total trading volume for the quarter reached $186.8 billion, up 19% year-on-year. The number of funded accounts on Kraken increased by 37% to 4.4 million. Kraken's Co-CEO Arjun Sethi stated in an interview: 'We are not only riding this cycle, but also gaining more market share. Our market share is increasing across the board.'
