Analysis: Stablecoin issuers like Circle and Tether are swallowing up US debt and may threaten the credit system

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TLDR Payward, Kraken’s parent company, earned $2.2 billion in 2025, a 33% increase from 2024’s $1.6 billion Trading revenue and asset-based services each contributed

TLDR Revenue hit $12.7 billion, crushing $10.42 billion estimate and up 123.4% year-over-year EPS of $0.69 beat consensus $0.49 by 40.8% in fiscal Q2 Q3 guidance