CoinDesk·3 min read·medium
EToro reports second quarter crypto loss even as total profit beats estimates
O
Olivier Acuna
✦AI Summary
Trading platform eToro reported a $7.2 million loss in cryptoasset revenue for the second quarter, despite overall profit beating analyst estimates. The company also announced the acquisition of U.S. brokerage firm TradeZero for up to $231 million.
The Tel Aviv, Israel-based trading platform reported $1.35 billion in cryptoasset revenue, around 29% lower than the $1.91 billion a year earlier. Its cost of revenue from cryptoassets was $1.35 billion, leaving a $7.2 million loss, compared with a $37.7 million gain a year earlier.
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