Crypto Exchange Kraken reported $ 472 million in revenues for the first quarter of 2025, 19% more than the previous year despite a softened cryptographic market. The adjusted Ebitda of the exchange (profits before the deductions) reached $ 187 million, an increase of 17% year after year.
The volume of negotiation on the platform increased 29% year after year, and the financed accounts grew by 26%, while assets on the platform fell 2% to $ 34.9 billion. Kraken attributed the fall to a decrease in the value of these assets.
However, the title of the quarter was the complete acquisition of Ninjatrader, a future and derivative negotiation platform centered on retail.
“This transaction marks the greatest agreement that combines traditional finances (tradfi) and cryptography. More than an expansion of our business, this strategic acquisition strengthens our derivative position both for tradfi services and for cryptography,” wrote the exchange in a report.
The agreement positions the exchange to serve the merchants who seek to access both classes of assets in one place. It will allow encryption merchants to access traditional futures contracts, while Ninjatrader users will get access to the cryptography market.
The movement advances Kraken’s ambition to become a multiple asset platform. He arrived during the same quarter that Kraken launched a function that allowed cross -border payments, Kraken Pay. It will be promoted with the introduction of cryptographic debit letters, in association with Mastercard.
Kraken also completed a test of the reserves for the custodium of cryptocurrencies for the exchange as of March 31. The firm, which allows users to verify their assets independently in the chain through a Merkle tree test, said it plans to publish these tests quarterly.
