Quartz·1 min read·medium
Kraken's parent Payward posted earnings down 67% from a year earlier
✦AI Summary
Kraken's parent company, Payward, reported a 67% decline in earnings compared to the previous year. Despite the drop in profits and a 12% decrease in platform margins, the company saw a 37% increase in funded accounts.
Why it matters
The data highlights the volatility of the crypto exchange market and the disconnect between user growth and actual profitability.
Total platform margin fell 12% to $487 million, while funded…
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