U.S. Bullish posts Q2 net profit of $110 million… trading volume surges

JOON HYOUNG LEE

Summary

Bullish said its Q2 net profit was $110 million, marking a significant year-on-year improvement.
During the same period, digital asset revenue and trading volume increased by 18.15% and 35%, respectively.
Bullish recently listed on the New York Stock Exchange, and said the Q2 results are translating into strong business momentum going forward.

U.S. cryptocurrency exchange Bullish posted a net profit of $110 million (about KRW 150 billion) for the second quarter of this year.

Bullish said on the 17th (local time) that second-quarter net profit was $108.3 million. Considering that a year earlier there was a net loss of $116.4 million (about KRW 160 billion), performance has improved significantly. Over the same period, digital asset revenue rose from $49.6 billion to $58.6 billion, an increase of 18.15%.

Trading volume also rose sharply. Bullish's Q2 trading volume this year was $179.6 billion, up about 35% from $133.0 billion a year earlier. Over the same period, average daily trading volume increased from $1.462 billion to $1.974 billion.

Earlier, Bullish listed on the New York Stock Exchange last month. Tom Farley, Bullish's chief executive officer (CEO), said, "We are satisfied with the Q2 results," adding, "The achievements in Q2 are directly contributing to strong business momentum after Q3."

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