Bullish’s Non-Trading Revenue Overtakes Transaction Income as Crypto Sales Fall 44%

Bullish’s second-quarter results show why crypto platforms have to diversify from crypto: digital asset sales fell sharply, while transaction revenue contributes less than 50% to the bottom line. Digital asset sales fell 44% year-on-year to $32.6 billion from $58.6 billion. Adjusted transaction revenue rose 24% to $29.9 million from $24.1 million, while subscription, services and other revenue…