BitGo Revenue Falls 51% in Q3 Amid Slower Crypto Trading

BitGo revenue falls — BitGo’s revenue fell by more than half in the third quarter, driven by a continued soft trading environment and a shift toward lower-margin stablecoin transactions, though net income rose on treasury gains.

The institutional crypto custody and trading firm reported a 51% year-over-year decline in revenue for Q3 2026. The company attributed the drop to a “continued soft crypto trading environment” and a higher proportion of stablecoin-related transactions, which carry lower margins than other crypto trading activities.

Despite the sharp revenue contraction, BitGo’s net income increased during the quarter. The firm said this was due to gains from its treasury management operations, which offset some of the pressure from its core trading and custody services.

The results highlight the ongoing challenges for crypto-native financial service providers as trading volumes and asset prices remain subdued compared to previous bull market cycles. BitGo’s performance is often viewed as a bellwether for institutional activity in the digital asset space.