[Kraken Parent Company Payward's Q2 Profit Plummets 71% as Sluggish Crypto Market Drags Performance] According to Bloomberg, cryptocurrency exchange Kraken's operator Payward disclosed that its second-quarter 2026 profit saw a significant decline due to a slowdown in industry trading activity. Adjusted pre-tax profit fell to $23 million, a 71% drop compared to $79.7 million in the same period last year. Meanwhile, adjusted revenue grew 17% year-over-year to $508 million. Payward stated that despite revenue growth, the weak trading volume across the crypto market has placed considerable pressure on profitability. Previously, as the crypto market entered a low-volatility phase, multiple trading platforms faced challenges such as declining fee income and reduced user trading activity. Kraken has been actively expanding its institutional business, derivatives trading, and on-chain services in recent years, but cyclical changes in the industry continue to exert pressure on its core trading business.