Kraken, a leading U.S.-based crypto exchange, reported $1.5 billion in revenue for 2024, doubling its earnings from the previous year.
The exchange reported holding $42.8 billion in customer assets, with an average revenue exceeding $2,000 per customer. Its EBITDA for the year reached $380 million, while trading volume hit $665 billion, supported by over 2.5 million funded accounts.
These financials follow a series of strategic shifts, including product adjustments and a renewed emphasis on core services.
CEO Dave Ripley confirmed the firm’s profitability. The platform saw major growth, holding $42.8 billion in assets and reaching $665 billion in total trade volume.
The exchange also reinstated staking services in the U.S. after a two-year hiatus, now supporting 17 digital assets across 37 states. Additionally, Kraken expanded its futures trading options, introducing new contracts and enhancing margin trading features.
With ETF issuer Bitwise hinting at a 2025 public listing, Kraken could soon join other crypto firms like Circle and Chainalysis in going public.
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