EToro reports second quarter crypto loss even as total profit beats estimates
60-second summary
eToro reports a second quarter crypto loss despite beating profit estimates, with gross crypto revenue falling to $1.35 billion. The trading platform has agreed to buy U.S. brokerage TradeZero for up to $231 million, expanding its presence in the US market. This strategic move may offset the crypto revenue decline, but its impact on eToro's overall growth remains uncertain.
The trading platform’s gross crypto revenue fell to $1.35 billion in the second quarter. It also agreed to buy U.S. brokerage TradeZero for up to $231 million.