Bullish Shares Drop After Crypto Exchange Reports Record Q3 Revenue
The post Bullish Shares Drop After Crypto Exchange Reports Record Q3 Revenue appeared on BitcoinEthereumNews.com.
In brief Crypto exchange Bullish announced record adjusted revenue and net income in Q3. Shares of BLSH still fell more than 5% following the news, now trading below its August IPO price. The firm opened its options product and U.S. exchange during Q3, and is focused on tokenization services moving forward. Shares in publicly traded crypto exchange Bullish have fallen by more than 5% after the firm reported its Q3 earnings on Wednesday morning. The exchange reported record adjusted revenue and net income of $76.5 million and $18.5 million in Q3, respectively. That compares to $44.6 million in adjusted revenue and a net loss of $67.3 million during the quarter last year. “After posting record subscriptions, services, and other revenue (SS&O) and record profitability in the third quarter, we are continuing to see strong momentum in the fourth quarter,” said Bullish CFO David Bonanno in a statement. “Our recently launched options product has already surpassed $1 billion in trading volume and quarter-to-date spot trading volume is up 77% from Q3. We continue to expand our liquidity services ecosystem and feel confident that our diversified business model will deliver sustained, profitable growth,” he added. The Peter Theil-backed exchange fully launched its options product and its U.S. exchange during the quarter, with CEO Tom Farley noting on its Q3 earnings call that it has already “onboarded marquee customers.” “We expect many more records in 2025 as a whole,” said Farley. “In the last six weeks, our momentum has only increased.” In September, the firm announced it had completed the historically difficult process of receiving New York’s BitLicense, a regulatory license that allows it to operate as a digital asset trading and custody business in the state. Moving forward, Bullish is focusing on positioning itself at the intersection of key crypto trends…
Filed under: News - @ November 19, 2025 8:25 pm