According to a shareholder letter obtained by Bloomberg, crypto exchange Kraken's parent company Payward reported an adjusted pre-tax profit of $23 million in Q2, down 71% year-over-year from $79.7 million in the same period last year, mainly due to a slowdown in overall trading activity in the crypto industry. Meanwhile, the company's adjusted revenue grew 17% year-over-year to $508 million, indicating that revenue growth has not translated into profit growth. Bloomberg places this performance decline in the context of the current weakness in crypto market trading volumes. https://(wublock123.com)/news/kraken-parent-payward-q2-pre-tax-profit-down-71-to-23m-66530