BitGo posts $2.85 billion in Q3 revenue, down 50.9% on year

Crypto custodian BitGo posted $2.85 billion in third-quarter revenue this year, The Block reported. The figure was down 50.9% from a year earlier and 34.1% from the previous quarter, amid weaker cryptocurrency trading activity. Net income, however, rose 94% from a year earlier to $44.1 million, with $71.5 million in unrealized gains from crypto assets held cited as a key factor.