Crackon reported $ 412 million in revenue for Q2 2025.
Adjusted Ebitda, however, fell to 7% during the same period and rose from $ 85.5 million to $ 79.7 million.
Seasonal weakness
The total exchange volume increased 19% year-over-year to $ 186.8 billion, although the activity slowed down quarter-over-vapor between market disturbances and widely mesmerized the US tariff and wide macroeconomic uncertainty. Crackon stated that Q2 is usually a seasonal weak period for trade throughout the industry.
Exchange funds increased by 37% from one year earning, which rose 47% year-on the platform to $ 43.2 billion. Crackon also revealed by expanding its market share in spot trading, which was suppressed by ongoing product reforms. In fact, the company saw a strawmentum in stabeloin-related trading, as its quarter climbed steady-fat-spot volumes from 43% to 68%.
Crackon has annually annually annually to a range of product expansion that targets both retail and institutional users. In Europe, the company launched that it describes as the largest Mifid-tradepto futures suite, which is on KRAKEN Pro for FX Sada futures for the REA, GBP, AUD, JPY, and CHF Trading couples.
In the United States, the forum offered users a regulated derivatives to allow users to obtain CME-list crupto futures through their interded platforms. For institutional customers, the company introduced the Crackon Prime, a brokerage service that connects trades, custody and livetiti.
The Crypto Exchange expanded its custody business by adding support for Solana (Sol ($ 161.87)), XRP ($ 2.95), and Recovery-Ass BSDG ($ 1.00), which is to target the high-net-welfare people in search of safe property storage and stacking solutions to the institutional customers.
Co-founder approved by DOJ
Among these operational milstones, the company saw a different legal issue about reaching the conclusion of its former CEO. The US Department of Justice recently shut down its inventions at Jessie Jesse Powell, co-founder of Crackon, steaming from unrelated allogations from Crypto. The investigation focuses on a governance dispute, including the Verge Center for the Arts, a non -profit poly.
He was accused of hacking and blocking the accounts. The FBI raided Powell’s house in 2023 and seized the equipment that are now back. The prosecutors informed the Powell’s team in April that no allegations would be made. The founder called the raid “disastrous” and planned civil action against the board of the verge.
This decision comes in 2026 as a possible IPO.
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