May 2nd, according to The Block, Kraken reported a revenue of $4.72 billion in the first quarter of 2025, a 19% year-over-year growth, primarily driven by market volatility in the first 100 days of Trump’s second term. Kraken plans to go public in the first quarter of 2026 and has recently acquired NinjaTrader to enable derivatives trading services in the United States. Additionally, Kraken has expanded into stock and ETF trading through a partnership with the brokerage Alpaca.