BitGo Q3 revenue falls 51% on soft trading as net income rises on treasury gains
AI summary
BitGo reported a 51% drop in third-quarter revenue, which it attributed to a soft crypto trading environment and a shift toward lower-margin stablecoin transactions. Net income still rose, helped by gains on its treasury holdings. The revenue decline points to weaker trading activity and fee pressure at a major crypto custodian, a signal traders may read as a drag on exchange and infrastructure earnings.
