IPO-Candidate Kraken Says Revenue Jumped 19% in First Quarter

Kraken, one of the oldest crypto exchanges, saw revenue and adjusted earnings both rise in the first quarter while volatility in the digital-asset market increased.

Adjusted earnings before interest, taxes, depreciation, and amortization climbed 17% to $187.4 million from $160 million in the year-earlier period, the company known officially as Payward Inc. said in a statement Thursday. Gross revenue jumped 19% to $471.7 million.

Price of many major tokens finished lower in the three-months ended March 31 after surging earlier in the period amid optimism about the election of now crypto-friendly Donald Trump to a second US presidential term. Kraken’s ...