Kraken Reports $1.5 Billion in 2024 Revenue
Kreken’s revenue soared significantly in 2024, reaching 1.5 billion US dollars, a year -on -year increase of 128 %.
The financial success of the Cryptocurrency Exchange headquartered in the United States is consistent with a wider market rising rising, which makes Bitcoin and other digital assets reaching a new climax.
Kraken’s transaction volume reached US $ 665 billion
In 2024, the platform Report In interest, taxes, taxes, depreciation and amortization (EBITDA), the previous revenue was US $ 380 million, resulting in a transaction volume of $ 665 billion.
On average, each customer of Kraken has more than $ 2,000 assets and has about $ 42.8 billion in assets. The platform also manages 2.5 million accounts of funding. As far as daily transaction volume is concerned, this is the fifth largest centralized exchange.
Kraken attributed it to its long -term growth strategy rather than a short -term market trend. This focus helps it to dominate the stable cross -ramp industry. The exchange manages more than 40 % of global stability in the main concentration exchange.
The company also emphasized its promise to seamless execution. Since its establishment, 2.5 billion shares, 99.9 % of the platform’s normal operation time and a round -trip incubation period below 2ms.
Kraken co -CEO Arjun Sethi reiterated the company’s commitment to transparency, and also announced the plan to release a quarterly financial report, including the disclosure of the exchange retaining certificate.
“Today’s financial focus is that we continue to give priority to the many highlights of transparency and accountability. We are still committed to issuing our reserve certificate regularly to ensure the highest level of trust in the customer,” Sethi additionalEssence
although Guess about the first public offering (IPO) in 2025 Continue, Kraken has not confirmed any plan. Instead, the company stated that since its launch in 2011, it has only raised the main funds of $ 27 million.
Regulatory obstacles still exist
Despite strong economic performance, Craken is still facing major regulatory obstacles in the United States.
The exchange settled with the SEC and SEC in 2023, resulting in the suspension of the product. However, it Re -introduced users in 39 states Earlier this week It is announced that it will close its NFT market in February.
at the same time, Kraken is still entangled in the SEC lawsuitThe claim that it has always been an unregistered exchange, the operation of the agent and the clearance agency. The regulatory agency claims that Kraken has promoted illegal encryption securities transactions since 2018, thereby generating considerable income.
However, the recent court ruling allows the exchange to conduct “fair notice” and “legitimate procedures” defense, although “The argument of the theory of the main question “was rejected.
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