eToro reports strong growth across crypto trading in Q3 as costs keep pace with revenue — TradingView News
Tel Aviv-based trading and investment company eToro reported its crypto division experienced significant growth during the third quarter after the company added additional digital assets and staking, according to an earnings statement from Monday.
Most notably, eToro posted $3.97 billion in “cryptoassets” revenue for the third quarter, compared to $1.4 billion during the same period a year ago. Its cost of revenue on the vertical, however, came in at $3.89 billion, meaning the trading platform failed to generate much, if any, crypto-based income. The company posted a net loss of over $18 million from crypto asset derivatives trading, according to the statement.
eToro went public in May at a $4.2 billion valuation. The Nasdaq IPO raised…
