TL;DR: After the crypto decline in 2022-2023, Kraken posted a Sacra-estimated $1.5B in revenue for 2024 (up 128% YoY) as trading volumes rapidly re-accelerated. With a core customer base of professional traders and institutions, Kraken is now building, and partnering with developers to build, apps and services on top of their exchange. For more, check out our full Kraken report and dataset, as well as our interviews with Arjun Sethi [2025] and David Ripley [2022], co-CEOs of Kraken...