Kraken Reports 6.8% Year-Over-Year Decline in Q2 Earnings to $79.7M

In Q2 2025, Kraken's income decreased by 6.8% compared to the same quarter in 2024. Key financial metrics include:

Adjusted EBITDA of $79.7 million, down from $85.5 million in Q2 2024
57% decline from $187.4 million in Q1 2025
Revenue fell 13% to $411.6 million, compared to $471.7 million in Q1, but up 18% year-over-year

Kraken attributed the downturn to seasonal trends and market turbulence following President Trump's new tariffs, which contributed to a significant drop in the crypto market, with BTC hitting a low of approximately $76,000.

In contrast, Robinhood reported a 98% increase in crypto revenue from $81 million to $160 million in Q2 2025. Despite this, Kraken's trading volume was significantly higher at $186.6 billion, though it saw an 11% decrease from $208.7 billion in Q1, while still being 19% above the previous year's figure.