Payward, the parent company of Kraken, reported a 66% year-over-year decline in adjusted EBITDA, which fell to $60 million, according to CoinTelegraph. This significant drop contrasts with the company’s expanding presence in the market.
Despite the earnings setback, Payward’s share of global spot trading nearly doubled during the same period, demonstrating strong growth in trading volume. Additionally, the company has expanded its fee-based services, contributing to revenue diversification.
For Japanese investors, Payward’s mixed performance highlights the ongoing volatility in the crypto sector, underscoring the importance of monitoring both trading activity and profitability metrics amid shifting market dynamics.