Add as a preferred source on GoogleKraken Parent Payward Plans Prediction-Market Expansion and a Token
Adjusted EBITDA fell 67% year over year to $60 million, while funded accounts rose 37% year over year to 7.1 million by quarter-end.
Payward, the company behind Kraken, plans to expand its prediction-market business and launch a token, while its third-quarter trading volume fell 30% from a year earlier.
The company did not provide a timetable for the token launch. Its plans also include growing its prediction-market business.
Payward’s third-quarter platform results included $60 million in adjusted EBITDA, down 67% from a year earlier but up 163% from the second quarter. Total Platform Margin, which replaced the company’s previous adjusted revenue measure, declined 12% year over year to $487 million.
Trading volume fell to $353 billion. Funded accounts totaled 7.1 million at quarter-end, up 37% from a year earlier.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.