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Bullish Posts $605M Q1 Loss as Crypto Holdings Drop, Shares Slip on Revenue Miss
Bullish reported Q1 adjusted revenue of $92.8 million and a net loss of $604.9 million, missing the $94.1 million analyst consensus. The company said $559 million in unrealized losses on its digital asset holdings weighed on results, while subscriptions and services revenue fell to $54.8 million from $57.6 million. Bullish also said it handled $11.6 billion in Bitcoin options volume and applied for CFTC licenses as it eyes U.S. expansion.