Kraken Q1 2025 Financial update: Power through Market Courses

Kraken 2025 started Based on the strong momentum for 2024Mobility in a variable and softening market, and even the growing size. Our continuous performance through the courses shows the flexibility of our platform, which continues to attract new clients and deepen the current relationships.

We have taken a targeted step towards our multi-asset vision by obtaining ninjatrader, and we distributed dozens of new products and features-which we highlight below.

Strong performance on the upper line and disciplined implementation

Kraken has achieved approximately $ 472 million of total revenue for the first quarter of 2025 and Ebitda average of $ 187 million. This represents a 19 % increase in revenue on an annual basis, although the slowdown in the total market trading activity after Q4 2024. While the first quarter revenues decreased by 7 % due to the softness of the total market, modified EBITDA increased by 1 %-highlighting the elasticity of Kraken in the middle of seasonal. The total trading volume of exchange increased by 29 % on an annual basis, while the funded accounts increased by 26 % on an annual basis.

We have also exceeded broader industrial standards, indicating the expansion of the market share and the sharing of the deepest customer. The assets on the platform continued to grow, although the value decreased in succession due to the opposite winds in pricing the wider encryption market.

Accelerate the aspirations of the multi-assets category-the full ninjatrader acquisition

Today, we have completed the acquisition of Ninjatrader – an important teacher for our business. This deal is the largest deal ever that combines traditional financing (Trafi) and encryption. More than just an expansion of our business, this strategic acquisition enhances our location in the derivatives of both Traffi and Crypto services.

Craftsman will be able to soon access traditional derivatives within the Kraken trading experience and derivative derivatives will be able to access the coding markets on the Ninjatrader platform.

Ninjatrader’s infrastructure and the merchant community are fully compatible with Kaken’s vision of the institutional trading platform where any assets can be traded, at any time. Read more about the completion of the acquisition here.

New consumer products

In the first quarter, we quickly implemented to launch high -influential products, the first customer of the growing retail users base:

• Payment kings: We launched immediate and boundless payments across 300+ of encrypted currencies and fillets-the location of Kraken as a place of trading and financial interest in the real world.
• The new consumer application KrakenWe have presented a new application designed to build intuitive wealth through the class of assets, which reflects our vision to become a complete financial partner for a wide range of customers.
• interest (US agents in 37 states and regions): We have strengthened our leadership in the generation of return, with a strong focus on organizational alignment.

Institutional and professional products

For our merchants and professional institutions, we also continued to push the borders to enhance their commercial experience.

• API Futures Repair: We have launched an institutional programming interface, providing a strong and unified connection to the largest institutions and partners to enhance liquidity and folders on our derivative platform. With the growth of 250 % per month in the first quarter of this version, we expect the increasing dividends for our customers as we continue to enhance these services next year.
• Kraken Pro UI/UX Fix: We have delivered the higher customer notes requests, covers the basis of assets -based costs, an average entry price, allocate an unreasonable P&L application, customized mobile applications, improvement web application form, multiple markets page, account data, and more.
• Krakeen OTC in the Kraken Pro app: We have made an institutional degree implementation tools that can be accessed directly within the Kraken Pro-applying the experience between large-scale merchants and daily trading.

In addition to many improvements to our current products wings, the Q1 version highlights how Kraken is forming the future of financing actively. We are building new layers strategically to expand our processing market, enhance user participation and build long -term competitive advantages for our ecosystem.

Transparency by proving reserves

Today, we also announce the completion of our latest reserves to support the securely supported cryptocurrencies by Kraken as of March 31, 2025.

While the industry participants often depend on the individual auditor, Kraken continues to increase the tape by enabling customers to confirm their origins independently. We do this by producing the Merkle Tree guide that can be verified as an encryption that enables customers to confirm the balance of their account in the independently verified report by the third -party accounting company in Kraken. In other words, Kraken is completely responsible for our customers, who have an unparalleled vision in the integrity of their property.

Kraken was a pioneer in the exercise of regular reserves – before becoming an expectation of industry – and we remain one of the few platforms that carry out this process. We will continue to make evidence of reserves and move to a quarterly rhythm. This consistent transparency is a foundation for how our work and will remain a major discrimination, as we expand our products and services through asset classes.

Q1 strong

Kraken’s performance in the first quarter of 2025 shows that we are in a position to flourish during market fluctuations and build momentum and we are investing in the long term on our platform. As the Crypto scene continues to develop, we are still committed to providing value to our customers, partners and the wider ecosystems.

Stay tuned for more updates as we continue to build the future of financing, responsibly.

Revenue represents the total total revenue for this period referred to. Ebitda is the profits before interest, taxes, destruction and extinguishing. EBITDA is excluded, irregular, irregular and/or estimated expenses, and aims to provide a clearer vision for the company’s basic profitability. The assets of the platform are measured on the last day of the financial neighborhood. The funded accounts are the total clients funded with a score larger than $ 0 as of the last day of the quarter. The total immediate trading, margin, futures contracts and consumer exchange volumes include the period referred to. The average revenue for each user (ARPU) is measured on the basis of the total total quarterly revenue / quarterly transactions for the financial quarter. The quarterly transformer users represent the number of distinguished users who dealt with the statute at least once during the fiscal quarter.