Adjusted pre-tax profit fell 71%, Kraken operator Payward's Q2 earnings dropped to $23 million

Odaily News: Kraken operator Payward disclosed that, amid slowing industry trading activity, its adjusted pre-tax profit for Q2 2026 stood at $23 million, down 71% from $79.7 million in the same period last year. During the same period, adjusted revenue rose 17% year-over-year to $508 million. Payward stated that despite continued revenue growth, weak trading volumes across the overall crypto market have put pressure on profitability. In recent years, Kraken has steadily expanded its institutional business, derivatives trading, and on-chain services, yet cyclical industry shifts continue to weigh on its core trading operations. (Bloomberg)