Kraken started 2025 with a high tone and reported an increase of 19% in the turnover on an annual basis on an annual basis to $ 472 million for the first quarter.
The win of May 1 rack Also emphasized a quarter-over quartzing of 1% of the adapted EBITDA, up to $ 187 million.
In the meantime, the performance indicators of the company showed a similar momentum. The company noted that the total trade volume increased by 29% compared to the same period in 2024 and $ 208 billion. At the same time, the number of funded accounts climbed 26% to 3.9 million.
These figures suggest that user involvement is growing and the interest in digital assets trade remains strong.
Kraken stated that his statistics performed better than the benchmarks for general industry, indicating a larger market share and a stronger involvement of the customer. The exchange also indicated that although the number of assets on the platform increased, their total value decreased as a result of continuous pressure on prices for crypto assets.
Kraken’s acquisition and product expansion
Kraken confirmed that it completed the acquisition of Ninjatrader in the first quarter. The stock market stated that the relocation enables the company to introduce derivatives to the US.
The crypto -trade platform stated that the transaction is an important moment in its growth strategy and meant an important step in combining traditional financial infrastructure with the crypto sector.
The integration offers traders streamlined access to digital and traditional markets on the two platforms.
During the first quarter, the company expanded its product offering to meet the increasing demand of the growing user base of the retail.
The stock market said that it has introduced a new app for consumer -oriented consumers to make tools for building wealth more accessible to retailers.
Kraken also launched a payment function to support transactions in hundreds of crypto and fiat -currencies, with the aim of improving its role as a practical financial platform.
Moreover, setting services remained a focus, with coverage extended to users in dozens of American states and areas.
North -Korea security threats
Kraken unveiled a security incident in which a suspected North Korean hacker was involved in a separate announcement.
According to the exchange, the person tried to infiltrate the company by requesting a job using a false identity.
Kraken stated that red flags appeared early in the interview process when the candidate joined the call under a different name and spoke in inconsistent voices, which suggests that external coaching.
In addition, a tip from industrial partners confirmed that the E -Mail had ties used by the applicant with a well -known Noord -Korean operation aimed at crypto companies.
Instead of stopping the interview process, however, Kraken left it more about the tactics involved.
According to the exchange, the investigation into the applicant fake identities, technical deviations and the use of Mac -desktops remotely accessible via VPNs. The applicant also submitted a falsified ID and a CV linked to a compromised Github account linked to an earlier data breach.
Kraken’s Chief Security Officer, Nick Percoco, led to the final phase verification tests that the applicant ultimately failed.
This led the company to conclude that the attempt was a coordinated effort to break through its internal systems through social engineering.