Payward, the parent company of crypto exchange Kraken, reported a sharp profit decline despite posting strong revenue growth in the second quarter of 2026, raising questions about the cost of its aggressive acquisition strategy. Paywards revenue climbed 17% year over year to $508 million, contrasting sharply with Coinbase. The US-listed crypto exchange generated $1.22 billion in quarterly revenue, down 18% from the previous year, while recording a $359 million net loss, largely linked to declines in the value of its crypto holdings. The divergence suggests the broader crypto market slowdown… Read more
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