The second-largest US-based crypto exchange by trading volume is announcing huge upticks in revenue and trading volume last year.
According to a new blog post, Kraken says that its revenue and trading volumes doubled in 2024 compared to what it did in 2023.
Kraken attributes its growth last year to the company’s focus on improving execution.
“Our relentless execution is evidenced by our 2024 financial highlights, which we are releasing for the first time in Kraken history.
In 2024, we saw revenue of $1.5 billion (up 128% year-over-year) and $380 million in adjusted EBITDA. During the year, clients entrusted us with $42.8 billion in assets on the platform and 2.5 million funded accounts. Total trading volumes in 2024 reached $665 billion and our average revenue per customer is now well over $2,000 – far surpassing any comparable stat we’ve seen from traditional or crypto exchanges.
One of Kraken’s core principles from day one has been accountability – to our customers, shareholders and employees. We don’t just measure success by volume, but by the quality of that volume. Not just by security, but by the depth and soundness of that security. Not just by accessibility, but by how seamlessly our products integrate liquidity and user experience.”
The announcement comes one day after the relaunch of Kraken’s staking program.
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