Kraken hit $1.5 billion in revenue in 2024, a whopping 128% YoY increase

Kraken, the crypto exchange founded in 2011 by Jesse Powell and Thanh Luu, reported $1.5 billion in revenue for 2024 – a 128% increase compared to the previous year. The company also recorded $380 million in adjusted EBITDA during the year.

Additional key metrics include:

• $42.8 billion in client assets held on the platform.
• 2.5 million funded accounts.
• $665 billion in total trading volume.
• Average revenue per customer exceeding $2,000.

Kraken’s technology platform has executed 2.5 billion trades since its inception, maintains a 99.9% uptime, and operates with sub-2ms round trip latency. Over 14 years, the company has raised approximately $27 million in primary capital, emphasizing a focus on efficiency and disciplined growth.

The exchange continues to prioritize transparency and accountability. It was among the first in the industry to publish Proof of Reserves reports, a practice it maintains regularly.

Kraken has also established itself as a major stable-to-fiat onramp, currently holding over 40% of the global stable-fiat volume market share among major centralized exchanges. With increasing regulatory clarity and positive industry trends globally, the company is positioning itself for continued sustainable growth.