BitGo revenue fell 51% in Q3 as trading slowed, while net income rose on treasury gains. The top line says crypto activity is cooling, and the bottom line is being helped by balance-sheet yield rather

What happened: BitGo reported a 51% revenue decline in Q3, which it attributed to a soft crypto trading environment and a higher mix of lower-margin stablecoin transactions. Key numbers: Revenue fell 51% in Q3. Net income rose on treasury gains. Why it matters: Net income increased despite the revenue drop, as treasury gains offset the impact of weaker trading activity and the shift toward lower-margin stablecoin transactions. Coverage: 3 outlets in 24h

BitGo reported a 51% revenue decline in Q3, which it attributed to a soft crypto trading environment and a higher mix of lower-margin stablecoin transactions.

Net income increased despite the revenue drop, as treasury gains offset the impact of weaker trading activity and the shift toward lower-margin stablecoin transactions.