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Kraken parent Payward reports $60 million Q3 adjusted EBITDA

Payward, the parent company of crypto exchange Kraken, posted $60 million in third-quarter adjusted EBITDA, rebounding from the prior quarter but tumbling roughly two-thirds from a year earlier.

Payward company logo in white text and icon on a black background.
Image: @cryptodotnews

Payward, the parent company of crypto exchange Kraken, posted $60 million in third-quarter adjusted EBITDA, according to reports from The Block and crypto.news. While the result marks a rebound from $23 million in the second quarter—a 163% quarter-over-quarter increase reported by Crypto Briefing—it represents a 67% plunge from roughly $182 million recorded during the same period last year. Bloomberg reported that the steep year-over-year earnings drop occurred amid a broader crypto downturn.[5][1][3][2]

Platform transaction volume rose 22% from the second quarter to $353 billion, but dropped 30% year over year. Despite lower trading activity compared to 2025, funded accounts climbed 37% to reach 7.1 million. CoinDesk reported that Payward credited its expansion outside traditional crypto trading with helping cushion revenue drops, while Crypto Briefing noted that the exchange's ongoing diversification strategy relies heavily on securing regulatory approvals for future growth.[5][1][4][3]

Key facts

  • Payward posted $60 million in Q3 adjusted EBITDA, up 163% from $23 million in Q2.
  • Payward's Q3 adjusted EBITDA dropped roughly two-thirds (67%) year over year from approximately $182 million.
  • The year-over-year earnings contraction took place amid a crypto downturn.
  • Platform transaction volume reached $353 billion in Q3, advancing 22% quarter over quarter but declining 30% year over year.
  • Funded accounts increased 37% year over year to 7.1 million.
  • Payward indicated that expanding beyond crypto trading softens revenue declines, though future growth relies on regulatory approvals.

Sources · 5 sources

  1. CN

    crypto.news@cryptodotnewsPost on X ·

    JUST IN: Kraken parent Payward reports 67% drop in Q3 adjusted earnings Payward posted $60 million in adjusted EBITDA, down from roughly $182 million a year earlier, while platform transaction volume fell 30% to $353 billion despite funded accounts rising 37% to 7.1 million. https://t.co/m34aywH4XA

    Open source
  2. BL

    Bloomberg@businessPost on X ·

    Kraken parent Payward’s third-quarter earnings fell sharply from a year earlier amid a crypto downturn but improved from the second quarter https://t.co/KURvVTXxXf

    Open source
  3. CB

    Crypto BriefingArticle ·

    Kraken parent Payward posts $60M Q3 adjusted EBITDA, up 163% QoQ Kraken's strategic diversification amid fluctuating trading volumes highlights resilience but hinges on regulatory approvals for future growth. The post Kraken parent Payward posts $60M Q3 adjusted EBITDA, up 163% QoQ appeared first on Crypto Briefing .

    Open source
  4. CO

    CoindeskArticle ·

    Kraken parent Payward says expansion outside crypto trading helps cushion revenue decline While earnings and the company’s newly introduced financial performance measure remained below year-earlier levels, there are signs of improvement from the second quarter.

    Open source
  5. TB

    The Block@TheBlockCoPost on X ·

    THE BLOCK: Kraken parent Payward reported $60 million in Q3 adjusted EBITDA, up from $23 million in Q2 but down roughly two-thirds year over year. Total platform transaction volume rose 22% from Q2 but fell 30% year over year to $353 billion. https://t.co/uQNhMgZTd4

    Open source