According to Bloomberg, Kraken announced that its total revenue for the first quarter of 2025 increased by 19% year-on-year to $471.7 million, adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 17% to $187.4 million, and transaction volume increased by 29% year-on-year. Although the quarterly average revenue per user decreased by 11% year-on-year and 17% month on month, the company stated that this was mainly due to the increase in new users.