Cryptocurrency alternate Kraken’s revenue in Q2 2025 was 6.8% decrease than within the equal quarter one 12 months in the past.
The San Francisco, California-based alternate reported adjusted earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) of $79.7 million, in comparison with $85.5 million in Q2 2024.
This was additionally a 57% drop from its EBITDA of $187.4 million in Q1. Kraken identified that “Q2 tends to be a seasonally decrease quarter for buying and selling exercise throughout the trade,” in an earnings statement on Thursday.
The alternate additionally highlighted market turbulence associated to the imposing of steeper tariffs by President Trump on commerce with the U.S. This led to a big slide within the crypto market, with BTC falling to a 2025 low of around $76,000 in early April.
Kraken noticed income fall 13% to $411.6 million in comparison with $471.7 million in Q1, although this was an 18% improve on Q2 2024.
One among Kraken’s rivals Robinhood (HOOD) printed its Q2 earnings on Wednesday, revealing a year-over-year jump of 98% in crypto income from the a lot decrease base of $81 million as much as $160 million.
Robinhood’s crypto buying and selling quantity of $28.3 billion is dwarfed by that of Kraken which was $186.6 billion within the quarter. This was a 11% drop from $208.7 billion in Q1, however nonetheless 19% greater than a 12 months in the past.