Kraken reported strong financial results for 2024, with adjusted revenue reaching $1.6 billion, up 138% from the previous year. The exchange also reported $421 million in adjusted EBITDA, $42.8 billion in assets on its platform, 2.5 million funded accounts, and $665 billion in trading volume.
The figures showed that Kraken was already generating substantial revenue before its push into traditional financial products.
Today, Kraken released financial highlights for the first time. In 2024:
✅ $1.5B revenue (+128% YoY)
✅ $42.8B in assets on platform
✅ Total trading volumes: $665BWe’re also committed to expanding our reach, scaling sustainably for decades to come. https://t.co/zGVEpYhzuK pic.twitter.com/oM1hFaOvTo
— Kraken (@krakenfx) January 31, 2025
Kraken moves beyond crypto trading
In April 2025, Kraken launched commission-free trading for more than 11,000 U.S.-listed stocks and ETFs, initially in selected states. The company said it planned to expand the service across the U.S. and into other markets.
Kraken has also expanded its payments business through Krak, allowing users to move crypto and traditional currencies across borders.
The strategy is changing what Kraken is competing for. Instead of relying mainly on crypto trading fees, the company is trying to keep more financial activity inside one platform. A customer could hold crypto, trade stocks, use payment services, and access derivatives without moving between several companies.
The company has also pushed deeper into futures. Its $1.5 billion acquisition of NinjaTrader gave Kraken access to a large U.S. futures customer base and strengthened its position in both traditional and crypto derivatives.
Growth is now coming from more than trading
Kraken’s liquidity remains an important part of its business. The company said it had more than 40% of global stable-to-fiat volume among major centralized exchanges in 2024. It has also continued publishing Proof of Reserves as part of its transparency efforts.
Kraken also offered trading incentives to former FTX clients receiving distributions through the exchange, giving eligible users up to $50,000 in fee-free trading.
The business has since grown well beyond the numbers reported for 2024. Kraken’s 2025 adjusted revenue reached $2.2 billion, while platform transaction volume rose to $2 trillion and funded accounts increased to 5.7 million. The company also expanded into tokenized assets and launched additional derivatives products.
The change suggests Kraken is trying to become a bigger financial platform rather than remain only a cryptocurrency exchange. That could reduce its dependence on crypto trading cycles, but it also puts the company into markets with established competitors and different regulatory requirements.
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