Kraken's second-quarter results decline as it focuses on expanding beyond crypto assets rather than short-term profits

Cryptocurrency exchange Kraken has announced its second-quarter 2025 financial results. Kraken's second-quarter revenue rose 18% year-over-year to $411.6 million.
However, adjusted net income fell 7% to $79.7 million, compared with $85.5 million in the same quarter last year.
According to a document released by Kraken on the same day, cryptocurrency trading volume in the second quarter increased 19% year-on-year.
The total assets surged 47% to $43.2 billion, while the number of funded accounts increased 37% to 4.4 million. The market share of stablecoins and fiat currencies also increased from 43% to
The announcement comes as Kraken is seeking to raise $500 million to reach a valuation of $15 billion.
Kraken cited macroeconomic factors, including uncertainty over U.S. tariffs, as one of the factors behind the decline in net profit for the quarter.
"We are currently in build mode, focusing on expanding our business beyond crypto assets rather than short-term profits," he explained.