Kraken has reported a significant financial performance for 2024, with revenue surging to $1.5 billion, a 128% increase from the previous year.
The company also recorded $380 million in adjusted EBITDA, reflecting its strong market position and operational efficiency.
According to the exchange, client assets on the platform reached $42.8 billion by the end of the year, while the number of funded accounts grew to 2.5 million. Trading activity remained robust, with total volume hitting $665 billion. Notably, Kraken’s average revenue per customer surpassed $2,000, outpacing both traditional and crypto exchange competitors.
Founded in 2011, Kraken has maintained a disciplined financial approach, raising only $27 million in primary capital throughout its history. Despite minimal external funding, the company has built one of the most resilient and high-performing trading platforms, boasting 99.9% uptime and ultra-low latency. Since its inception, Kraken has executed 2.5 billion trades, underscoring its reliability and scale per the report.
A key driver of the company’s success has been its deep liquidity pools, particularly in stable-to-fiat trading, where it holds over 40% of the global market share among major centralized exchanges. As regulatory clarity improves worldwide, Kraken is positioning itself for further expansion.
Emphasizing transparency, the company continues to publish its Proof of Reserves, reinforcing trust among its users. Co-CEO Arjun Sethi highlighted Kraken’s commitment to sustainable growth, innovation, and maintaining its reputation as a trusted leader in the crypto space.
Meanwhile, Kraken is offering trading incentives to former FTX clients as part of the fund distribution process following FTX’s collapse. Eligible users who choose the crypto exchange to receive their payout will gain access to up to $50,000 in fee-free crypto trading on Kraken Pro. Additionally, clients will receive bonus credits of up to $105, depending on the size of their recovered funds, to further offset trading fees. These credits will be available in their Kraken accounts once payouts are processed.
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