Report: Kraken Revenue Doubles as Exchange Eyes 2026 US IPO

Bloomberg reported on Wednesday that Kraken disclosed a 114% year-over-year jump in third-quarter revenue to $648 million, with adjusted earnings hitting $178.6 million, marking a strong turnaround from a slight loss a year earlier. The report noted that the exchange, operated by Payward Inc., is preparing for an initial public offering (IPO) amid renewed momentum in the digital asset sector under President Donald Trump’s administration.

The publication stated that it previously reported Kraken was in talks to raise funds at a $20 billion valuation ahead of its listing. Trading volume climbed 106% to $561.9 billion, while platform assets rose 89% to $59.3 billion. Funded accounts grew to 5.2 million. Reporter Olga Kharif said that rival Coinbase will report earnings Oct. 30, with analysts expecting a 49% revenue increase for the same period.

FAQ 🧭

• When is Kraken planning its U.S. IPO?
  Kraken is targeting a public listing in 2026 as it accelerates preparation for an IPO.
• How much did Kraken’s revenue grow year-over-year?
  The exchange reported a 114% jump in third-quarter revenue, reaching $648 million.
• What is Kraken’s current valuation ahead of its IPO?
  Reports suggest Kraken is seeking a $20 billion valuation before going public.
• How did Kraken’s trading activity perform this quarter?
  Trading volume rose 106% to $561.9 billion, with platform assets climbing to $59.3 billion.