eToro Crypto Business Posts $7.2M Loss as Revenue Falls in Q2
- eToro’s crypto business lost $7.2M as weaker trading activity hit Q2 results.
- Crypto trading cooled sharply, with July trades down 73% year over year.
- eToro keeps expanding with new crypto products and a bigger U.S. brokerage push.
eToro’s crypto business posted a $7.2 million loss in the second quarter, even as the trading platform reported stronger earnings overall.
The company generated $1.35 billion from cryptoassets during the quarter, down from $1.91 billion a year earlier. The decline came as crypto trading activity weakened from a year ago.
Crypto Activity Slows
eToro recorded 1.4 million crypto trades in July, down 73% from a year earlier. The average crypto trade also fell 50% to $182.
The broader business performed better. Total net contribution rose 9% to $229 million, while funded accounts increased 18% to 4.28 million. Adjusted diluted ea…
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