Investment Platform Kraken's Parent Payward Sees Earnings Plunge As Crypto Trading Slows In Bear Market

Payward, the parent company of the Kraken cryptocurrency exchange, saw a sharp drop in second-quarter profits as reduced trading volumes across the digital asset sector weighed on results during a prolonged market downturn. In the three months ended June 30, 2026, the firm recorded adjusted pretax earnings of $23 million.

That figure represented a 71 percent decline from the $79.7 million reported in the same period a year earlier.

Adjusted revenue, by contrast, climbed 17 percent year-over-year to $508 million, according to details shared in a shareholder communication and the company’s own financial highlights.

Overall platform transaction volume reached $310 billion, an 18 percent decrease from the prior-year quarter.

The slowdown reflected weaker industry-wide spot cryptocurrency activity as digital asset prices softened and investor risk appetite cooled.

Bitcoin, for example, was trading near half the peak it reached in October 2025. Similar pressures affected peers, with several major exchanges also reporting softer trading-related performance.

Despite the volume decline, Payward pointed to several positive indicators. Funded accounts—those holding a positive balance—rose 42 percent to a record 6.6 million.