Kraken parent Payward posts $507M in Q1 adjusted revenue

Payward, the parent company of crypto exchange Kraken, announced it recorded $507 million in adjusted revenue for the first quarter. According to CoinDesk, growth in perpetual futures and the expansion of new business segments offset a slowdown in its core crypto trading business. Total platform trading volume for the quarter reached $357 billion. The company stated that its average daily revenue-generating futures trades increased by 51% year-over-year, attributing the growth to the influence of NinjaTrader, Breakout, and an expansion in its derivatives offerings.