“The company’s adjusted earnings before taxes and other items reached $178.6 million, up 124% quarter-over-quarter, with volume rising 23% to $561.9 billion.”, — write: www.coindesk.com
The company, legally known as Payward Inc., brought in $648 million in revenue for the third quarter, a 114% increase from the same period last year. Kraken defines revenue as gross income under GAAP accounting minus trading costs.
Adjusted earnings before taxes and other items reached $178.6 million compared to a slightly negative figure a year earlier. The figure is up 124% quarter-over-quarter, the firm said, with its total volume rising 23% in the same period to $561.9 billion.
The performance adds weight to Kraken’s plans for an initial public offering in the US The firm recently raised $500 million in a funding round valuing it at $15 billion.
If the IPO plans come to fruition, Kraken would join a growing list of crypto firms looking to tap public markets. Among those are CoinDesk parent company Bullish, crypto exchange Gemini.
Kraken’s closest US competitor Coinbase is set to report third-quarter earnings on Oct. 30. Analysts expect its adjusted revenue to climb nearly 50%.
Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent.
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Inveniam will integrate the company’s decentralized cloud technology into its platform, while Storj retains its operations and leadership.
- Inveniam is acquiring Storj, integrating its decentralized cloud infrastructure to expand its data and AI platform for private markets.
- Storj will continue operating as a subsidiary with no changes to pricing, leadership or service contracts; CEO Colby Winegar will remain in place, and Ben Golub will join Inveniam’s board.
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