Peter Thiel-backed Bullish posts $280 million Q2 net loss as digital asset sales fall 44%
60-second summary
Bullish, a crypto exchange backed by Peter Thiel, reports a $280 million Q2 net loss due to a 44% decline in digital asset sales. Meanwhile, adjusted revenue surged 62%. Despite the significant loss, the company's revenue growth indicates a potential shift in user behavior, which could impact the broader crypto market's adoption and trading volumes.
Peter Thiel-backed crypto exchange Bullish reported a $280 million Q2 net loss as digital asset sales fell 44% and adjusted revenue rose 62%.