The exchange reported total revenue of $1.5 billion for the second quarter, versus a $1.59 billion consensus. Furthermore, trading volume came in at $237 billion against $252.76 billion expected in the same period.
Transaction revenue was $764.3 million versus $810 million forecast, while subscription and services revenue reached $655.8 million, below the $715.2 million estimate.
As of June 30, the fair value of digital assets held for investment stood at $1.8 billion, with an additional $951 million held as collateral. Including these, the total available resources amounted to $12.1 billion, according to the shareholder letter.
The quarter also reflected mixed underlying trends across the business. Assets under custody reached a record, supported by exchange-traded fund (ETF) flows and corporate uptake, but softer market activity weighed on fee realization.
Management also flagged the impact of one-time costs tied to a previously disclosed data incident, offset in part by gains on the company’s crypto investment portfolio.
