Kraken Reports 6.8% Drop in Q2 Earnings to $79.7M
Crypto Exchange Kraken's earnings took a hit in the second quarter of this year, falling 6.8% year-over-year to $79.7 million.
Kraken, one of the prominent names in the crypto exchange industry, faced a setback as its earnings decreased by 6.8% in Q2 compared to the same period last year, amounting to $79.7 million. The exchange attributed this decline to market turbulence exacerbated by the imposition of steeper tariffs on trade with the U.S. by President Trump.
The news comes as a surprise to many in the crypto community, given Kraken's strong standing in the market. Despite the drop in earnings, the exchange remains optimistic about its future prospects and is actively exploring strategies to navigate the evolving landscape of the digital asset space.