Kraken Revenue and Growth Statistics (2023)

Key Kraken user stats. Includes data on Kraken's valuation, revenue, profit, number of users, number of employees, and more.
Kraken Revenue and Growth Statistics (2023)
Last updated on:
November 7, 2022

Kraken intreseting facts (Top Picks)

  • In a recent report, Kraken is valued at $10.8 billion.
  • Kraken's market cap reaches $116.71 million in 2022.
  • Kraken’s 2022 revenue reached a new milestone of $47.11 million.
  • Kraken has raised a total of $134.1M in funding over 17 rounds. Their latest funding was raised on Mar 15, 2022, from a Secondary Market round.
  • Kraken is funded by 46 investors. Axevil Capital and SkyVision Capital are the most recent investors.
  • In 2022, Kraken's users exceeded 9 million around the world.
  • Kraken 24H trading volume in 2022 is $1.09 billion.
  • Kraken's monthly average trading volume in 2022 is $33.1 billion.
  • Kraken's average yearly trading volume as of 2022 is $397,762,800,000.
  • Currently, Kraken has more than 225 employees.
  • Kraken offers more than 150 coins, including three stablecoins: USD Coin (USDC), DAI (DAI), and Tether (USDT).
  • Kraken accepts seven fiat currencies, including USD, EUR, CAD, AUD, GBP, CHF, and JPY. Some coins are not available to US investors.

Source: Ycharts, NY Times, Bloomberg, Sacra, Fintech Compass, Bloomberg, Techcrunch, Crunchbase, FX Empire

About Kraken: Company Overview

Kraken, the crypto exchange app, was founded in 2011 in the US. Join us, and let's look at an overview of the company as a whole.

Key StatKey Info
Date FoundedJuly 28, 2011
Office AddressSan Francisco, California, United States
Founder(s)Jesse Powell
OwnerPayward, Inc.
Some Key PeopleJesse Powell (CEO)
IndustryCryptocurrency exchange
Business TypeFor Profit
Supported Currencies and CryptocurrenciesCryptocurrencies: BTC, ETH, DOT, ADA, DOGE, XMRFiat currencies: USD, EUR, JPY, GBP, CAD, AUD, CHF, AED
Cryptocurrency Market Share3.2% share of crypto spot volumes in 2021.
Number of Employees225+
Average Monthly Web Visitors6 million
Registered Users9 million+
Number of Supported Countries & RegionsWorldwide
Previous 24HTrading Volume (2022)$1.09 billion
Official Websitekraken.com

Sources: Crunchbase

Kraken Valuation

In a recent report, Kraken was valued at $10.8 billion.

Graph about Kraken Valuation
YearValuation
2022$10.8 billion
2021$10 billion
2020-
2019$4 billion

Compareed to 2021, Kraken's most recent valuation went almost $1 billion higher.

As for the previous years, we only know that Kraken was worth $4 billion in 2019, and there is no data available to the public for 2020's valuation.

Source: NY Times, Bloomberg, Sacra

Kraken Market Capitalization

Kraken's market cap reaches $116.71 million in 2022.

Graph about Kraken Market Capitalization
YearMarket Cap.
2022$116.71 million
2021$75.45 million
2020$94.05 million
2019$83.23 million
2018$51.94 million
2017$15.94 million
2016$11.39 million

See how 2022's market cap went higher with so much more than in 2021!

In fact, every year has had a couple more millions over the past in Kraken's market capitalization.

Source: Ycharts

Kraken Revenue

Kraken’s 2022 revenue reached a new milestone of $47.11 million.

Graph about Kraken Revenue
YearRevenue
2022$47.11 million
2021$25.63 million
2020$12.27 million
2019$15.15 million
2018$6.708 million
2017$3.534 million
2016$2.268 million

In 2022, Kraken generated almost double the revenue it made in 2021. There was a really big growth in 2018-2019, as well as in every year since 2020.

Source:  Ycharts

Kraken’s Profit

Kraken had a net loss of $1.8 million in 2022.

Unfortunately for Kraken, the company is not profitable to this date. Ever since 2016, the company kept on loosing over $1 million with each new year.

Graph about Kraken’s Profit
YearNet Income
2022-$1.893 million
2021-$2.822 million
2020-$3.965 million
2019-$2.126 million
2018-$2.126 million
2017-$1.813 million
2016-$1.074 million

Note how Kraken's highest loss was in 2020, when the company had -$3.965 million net income.

Source:  Ycharts

Kraken Funding

Kraken has raised a total of $134.1M in funding over 17 rounds. Their latest funding was raised on Mar 15, 2022, from a Secondary Market round.

Announced DateTransaction NameNumber of InvestorsMoney RaisedLead Investors
Mar 15, 2022Secondary Market - Kraken1
Feb 1, 2022Venture Round - Kraken42B Global Capital, Venture Garage
Dec 1, 2021Secondary Market - Kraken1
Oct 1, 2021Venture Round - Kraken1$1.5M
Sep 9, 2021Series C - Kraken1
Sep 5, 2021Private Equity Round - Kraken1
Aug 11, 2021Secondary Market - Kraken1$10M
Jun 1, 2021Secondary Market - Kraken3
May 20, 2021Series D - Kraken2Meros Equity Global Management
Apr 12, 2021Private Equity Round - Kraken1RIT Capital Partners

Above you can see the investments made in Kraken — all 17 rounds.

Source: Crunchbase

Kraken Investors

Kraken is funded by 46 investors. Axevil Capital and SkyVision Capital are the most recent investors.

See the list with some of Kraken's most important investors below.

Investor NameLead InvestorFunding Round
Axevil CapitalNoSecondary Market - Kraken
SkyVision CapitalVenture Round - Kraken
2B Global CapitalYesVenture Round - Kraken
SBX CapitalVenture Round - Kraken
Venture GarageYesVenture Round - Kraken
Raison Asset ManagementSecondary Market - Kraken
The Garage SyndicateNoVenture Round - Kraken
Uday Kumar Bangalore ShivaramanSeries C - Kraken
Anchor Capital GPPrivate Equity Round - Kraken
Red Lions CapitalSecondary Market - Kraken

Source: Crunchbase

How many users does Kraken have?

In 2022, Kraken's users exceeded 9 million around the world.

Kraken left 2021 with 6 million users, and finished 2022 with 3 million more new users.

Graph about Kraken number of users
YearNumber of Users
20229 million+ users
20216 million users
20205 million users
20194.3 million users
20184 million users

Up until 2021, Kraken's users were growing by a lot, but in 2022, Kraken saw the highest user expansion in recent years.

Source: Fintech Compass, Bloomberg, Techcrunch

What is Kraken's average daily trading volume (24H)?

Kraken 24H average trading volume in 2022 is $1.09 billion.

This refers to how much money goes through Kraken in trading every single day (24 hours). For past reference, see the table below.

Year24H Trading Volume
2022$1.09 billion
2021$2.20 billion
2020$67.90 million
2019$106.86 million
2018$415.76 million
2017$28.96 million
2016$3.87 million
2015$815,859
2014$771,846

Almost with each new year at Kraken, there's more average daily trading volume.

The highest average trading volume in 24 hours at Kraken was recorded in 2021, with $2.2 billion going through the app.

Source: Nomics

What is Kraken's average monthly trading volume?

Kraken's monthly average trading volume in 2022 is $33.1 billion.

Graph about Kraken's average monthly trading volume
YearMonthly Trading Volume
2022$33,146,900,000
2021$66,902,000,000
2020$2,064,839,000
2019$3,249,612,600
2018$12,643,261,600
2017$28,960,000
2016$117,686,700
2015$24,810,272
2014$23,471,836

Yet again, 2021 had a higher average trading volume, with $66,9 million going thorugh the app on a monthly basis.

Source: Nomics

What is Kraken's average yearly trading volume?

Kraken's average yearly trading volume as of 2022 is $397,762,800,000.

Graph about Kraken's average yearly trading volume
YearYearly Trading Volume
2022$397,762,800,000
2021$802,824,000,000
2020$24,778,068,000
2019$38,995,351,200
2018$151,719,139,200
2017$347,520,000
2016$1,412,240,400
2015$297,723,264
2014$281,662,032

If we're talking about best records, Kraken's highest average yearly trading volume was in 2021, at $802 million.

Source: Nomics

How much money has been transacted through Kraken?

Below is a summary of all of the financial transactions made on Kraken over time.

YearMoney Transacted
2022$397,762,800,000
2021$802,824,000,000
2020$24,778,068,000
2019$38,995,351,200
2018$151,719,139,200
2017$347,520,000
2016$1,412,240,400
2015$297,723,264
2014$281,662,032

How many people work at Kraken?

Currently, Kraken has more than 225 employees.

Graph about Kraken number of employees
YearNumber of Employees
2022225+ employees
2021225 employees
2020131 employees
2019107 employees
201882 employees
201750 employees
201630 employees

Look at that contrast! In 2016, there were only 30 people working at Kraken. The number went higher than 225 in 2022!

Source: Ycharts

How many office locations does Kraken have?

Kraken offices are spread in 6 different locations including its headquarters in San Francisco, United States.

CountryCityAddress
United StatesSan Francisco237 Kearny St #102 HQ
Virgin Islands (British)Road TownTrinity Chambers, P.O. Box 4301
CanadaHalifax1100-1959 Upper Water Street
ItalyMilanVia S. Marco, 21
JapanTokyoNibancho 9-3, Chiyoda-ku
United KingdomLondon6th Floor, One London Wall

Kraken has offices all around the world: North America, Europe, Asia.

Source: Craft

How does Kraken make money?

Kraken makes money through charges from:

  • Trading fees
  • Stablecoin fees
  • FX fees
  • Dark Pool fees
  • Margin Trading fees

Source: Money Made

What are Kraken's trading fees?

Below you can see the Breakdown of Kraken's trading fees, all according to the 30-day volume (in USD).

30-Day Volume (USD)Maker FeeTaker Fee
Less than $50,0000.16%0.26%
$50,001 to $100,0000.14%0.24%
$100,001 to $250,0000.12%0.22%
$250,001 to $500,0000.10%0.20%
$500,001 to $1,000,0000.08%0.18%
$1,000,001 to $2,500,0000.06%0.16%
$2,500,001to $5,000,0000.04%0.14%
$5,000,001 to $10,000,0000.02%0.12%
More than $10,000,0000.00%0.10%

As you can see, with each new trading volume, Kraken's pecentage for maker/taker fees changes as well.

Source: Forbes

How many cryptocurrencies does Kraken support?

Kraken is one of the oldest Bitcoin exchanges and supports more than 150 different coins to buy, sell, and trade with competitive exchange fees.

Graph about number of crystocurrencies Kraken did

How many coins are listed on Kraken?

Kraken offers more than 150 coins, including three stable coins: USD Coin (USDC), DAI (DAI), and Tether (USDT).

Kraken accepts seven fiat currencies, including USD, EUR, CAD, AUD, GBP, CHF, and JPY. Some coins are not available to US investors.

Infographic about number of coins listed on Kraken

Source: FX Empire

Top 30 coins available on Kraken

  • Bitcoin
  • Ethereum
  • Tether
  • Binance Coin
  • USD Coin
  • XRP
  • Binance USD
  • Dogecoin
  • Cardano
  • Solana
  • Polygon
  • Polkadot
  • SHIBU INU
  • Multi Collateral
  • TRON
  • Avalanche
  • Uniswap
  • stETH (Lido)
  • Wrapped Bitcoin
  • Litecoin
  • LEO Token
  • Cosmos
  • ChainLink
  • Ethereum Classic
  • FTX Token
  • Cronos
  • Stellar
  • Monero
  • Algorand
  • NEAR Protocol

Source: Forbes

Where is Kraken available?

Kraken offers our full range of services to clients living in countries of:

  • Africa
  • Asia
  • Europe
  • North America
  • Oceania
  • South America

Source: Kraken

What is Kraken's market share in the crypto market?

Kraken is the fourth-largest Centralized Crypto Exchange globally, with a 3.2% share of crypto spot volumes in 2021.

Infographic about Kraken's arket share in the crypto market

Source: Sacra

Who are Kraken users? (Demography)

Kraken users’ age

The largest age group of Kraken users are between 25 - 34-year-olds.

Graph about Kraken users’ age
Age GroupPercentage
18 - 2418.67%
25 - 3434.29%
35 - 4421.91%
45 - 5413.01%
55 - 647.56%
65+4.56%

After that, Kraken's most users are from the 35-44 age group, with almost 22% of the total Kraken app users.

Source: Similar Web

Kraken users’ gender

Kraken users are 73.73% male and 26.27% female.

Graph about Kraken users’ gender
GenderPercentage
Female26.27%
Male73.73%

Looking at this data, it's worth mentioning that Kraken's most users are males.

Source: Similar Web

Countries with the most investments in Kraken in 2022

The United States has the most investors using Kraken, with 22.46% of the total investors worldwide.

Graph about Top countries with the most investments in Kraken
CountryPercentage
United States22.46%
Germany12.48%
France7.36%
United Kingdom6.69%
Netherland4.46%
Others46.57%

Followed by the US, there is Germany that has 12.48% of all the Kraken investors.

Source: Similar Web

What were the most used devices by countries to access Kraken in 2022?

Kraken was most used in the United States, with almost 81% of the total users preferring desktop deviecs over mobiles.

Graph about  the most used devices by countries to access Kraken in 2022
CountryDesktopMobile
United States80.90%19.10%
United Kingdom50.36%49.64%
Germany67.20%32.80%
Spain11.01%88.99%
Netherlands77.90%22.10%

Also note how the United Kingdom comes second on the list, with an almost perfect 50/50 ratio for desktop and mobile devices.

In contrast, most of the Spanish Kraken users prefer using their mobile devices rather than the desktop version.

Source: Semrush

Kraken apps downloads stats

Kraken has over 1 million Android app downloads and over 2,400 on iOS. As for desktop, there are over 100,000 installs of the app.

AppsNumber of Downloads
Andriod1,000,000+
iOS2,400+
Desktop app (Linux, Mac and Windows)100,000+

Most of the Kraken app users are on Android.

Source: Play Google, Apps Apple

How much time do Kraken users spend on the Kraken apps?

Kraken users spend an average of 12 minutes and 41 seconds on the app.

Infographic about How much time do Kraken users spend on the Kraken apps

Source: Semrush

Who founded Kraken?

Kraken was co-founded in 2011 by Jesse Powell and Thanh Luu and is now the fourth-largest cryptocurrency exchange by volume, according to CoinMarketCap. It's a watershed moment for the company, which was recently valued at $10.8 billion.

Jesse Powell is an expert in virtual currencies, online and international payments, and fraud. He is the CEO of Kraken, the most trusted and largest Bitcoin exchange in the world, with a sizable market share in the crypto-exchange industry. He has been in the virtual currency industry for 15 years.

Powell has a net worth estimated at $500 million.

Infographic about Kraken's founder

Source: Crunchbase, Techcrunch

Does Kraken offer other services?

As well as standard buying and selling of cryptocurrencies. Kraken also offers more experienced traders additional services such as margin trading with up to x5 leverage and the option to take a short position.

Source: FX Empire

Kraken's top marketing channels

The top traffic source to Kraken.com is direct traffic driving 73.03% and search is the 2nd with 18.14% of traffic.

Graph about Kraken's top marketing channels
Market ChannelsPercentage
Direct73.03%
Referrals2.14%
Search18.14%
Social3.76%
mail2.79%
Others0.14%

Source: Similar Web

Social media traffic to kraken.com

Kraken.com gets most of its social media traffic from YouTube, followed by Twitter and LinkedIn.

Graph about Social media traffic to kraken.com
Social MediaPercentage
YouTube48.03%
Twitter17.25%
LinkedIn11.44%
Reddit8.36%
Facebook6.74%
Others8.18%

Reddit and Facebook are less relevant for Kraken's social media traffic, as they bring less than 10% of the total users from social media.

Source: Similar Web

How much money can I keep in Kraken?

The table below shows the daily limits on Kraken depending on every subscription.

StarterExpressIntermediatePro
Daily (24-hour) limitsDeposit0$9,000$100,000
Withdraw0$9,000$100,000$10,000,000+
Monthly (30 days) limitsDeposit0$9,000$500,000
Withdraw0$9,000$500,000$100,000,000+

Source: Kraken

Kraken FAQ

  • Can I withdraw USD from Kraken?

Kraken supports the following currencies: USD, EUR, CAD, AUD, GBP, CHF and JPY.

  • Is Kraken good for beginners?

Kraken's top-notch security, low trading fees and a solid range of available cryptos make it a good choice for investors who are just experimenting with crypto as well as more experienced traders. New users shouldn't dwell on Kraken's beginner platform for too long.

  • What does Kraken do?

Kraken offers a feature-rich trading platform for individual cryptocurrency enthusiasts as well as large trading firms. It has a variety of account types that cover the needs of all kinds of traders and investors.

  • Is Kraken legal in the US?

Kraken: "We comply with legal and regulatory requirements in all jurisdictions where we operate". The app is regulated by FinCEN, and the Kraken client funds are held directly by clients in their own bank accounts at our partner banks, which are heavily regulated. Kraken Bank is regulated by the Wyoming division of banking.

  • Does Kraken report to IRS?

Does Kraken report to the IRS? Yes, Kraken reports to the IRS. If you're a US resident and you earn more than $600 in income via Kraken (from staking rewards and so on), Kraken will issue you a 1099-MISC Form.

  • What bank does Kraken use?

Bank of America makes it easy to wire money to your Kraken account from inside your online banking or in person at a local Bank of America location. Below are the instructions detailing how to wire money with our MVB funding method.

  • Can I buy Bitcoin on Kraken?

With the Kraken app, you can instantly buy bitcoin with a credit card, debit card or bank account, while tracking the price of bitcoin and reading bitcoin news as you chart the path of your financial future. Bank accounts are only available to US residents.

  • How long until I can withdraw from Kraken?

First-time withdrawal holds certain deposits, such as first-time ACH instant purchases, debit or credit card purchases or digital wallet purchases, which will trigger a withdrawal hold for up to 72 hours.

  • What's the difference between Kraken and Kraken Pro?

Kraken offers two trading platforms to users, Kraken and Kraken Pro. Kraken Pro offers lower pricing and is available to anyone with a Kraken account. Depending on your cryptocurrency and active market trading experience, you may prefer Kraken or Kraken Pro.

  • Is my money insured on Kraken?

Digital assets and national currencies currently held in your Kraken account are not covered by insurance against losses or subject to federal deposit insurance corporation protections or the protections of any comparable organization anywhere in the world.

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About the author

Ch Daniel is the co-founder of SignHouse and chairman of the CH Group. Daniel is leading the development of SignHouse's product, as well as strategising how else the company can reach its main mission: empowering 100M+ to use the world's most efficient document organisational tools.

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