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Kraken's Q1 2025 revenue surged 19%, boosted by trading volume growth, a strategic acquisition of NinjaTrader, and a commitment to Proof of Reserves.
What’s the Scoop?
- Revenue Milestone:
Kraken reported $472 million in revenue for Q1 2025, marking a 19% year-over-year increase. - Trading Volume Growth: Trading volume rose by 29%, indicating increased platform activity despite a softening crypto market.
- Key Acquisition: Kraken completed the acquisition of NinjaTrader, merging crypto and traditional derivatives trading.
- Proof of Reserves Commitment: Kraken reiterated its focus on transparency by completing a Proof of Reserves attestation.
- Product Expansion: New retail and institutional products were introduced, including Kraken Pay for cross-border payments.
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