Summary
- Bullish said it posted a net loss of $563.6 million in Q4 last year, in contrast to a net profit of $158 million a year earlier.
- It added that last year saw a full-year net loss of $785.5 million and a slight decline in spot cryptocurrency trading volume to $244.8 billion.
- Right after the earnings release, Bullish shares fell about 5% in premarket trading, and the company drew attention after its New York Stock Exchange listing in August last year.
Forecast Trend Report by Period
U.S. cryptocurrency exchange Bullish posted a net loss of $560 million in the fourth quarter of last year.
Bullish said on the 5th (local time) it recorded a net loss of $563.6 million in Q4 2025. CoinDesk noted that this “contrasts with the net profit of $158 million posted in Q4 2024, a year earlier.”
Full-year net profit was tallied as a loss of $785.5 million. The company posted net profit of $79.6 million in 2024, but swung back to a net loss in just a year. Bullish’s spot cryptocurrency trading volume came to $244.8 billion, edging down from a year earlier ($250.2 billion).
Following the earnings release, Bullish shares tumbled about 5% in premarket trading. Bullish previously listed on the New York Stock Exchange (NYSE) in August last year.
Bullish CEO Tom Farley said, “Digital assets stand at a major inflection point,” adding, “Even as cryptocurrencies have repeatedly gone through extreme volatility and pronounced cycles, they are realizing the vision of capital that is faster, more efficient, cheaper and permissionless—moving everything on-chain.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
