Bullish shares dip on Q1 earnings miss, $605M loss

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Shares in Bullish dropped on Thursday on the company’s first-quarter results. Source: Google Finance Bullish’s stock has lost 43% since the company went public in August but is up 4.2% so far this year. The company told investors its recent $4.2 billion acquisition of Equiniti would allow it to bring to market a “regulated transfer agent with end-to-end tokenization infrastructure” and claimed to be the second-place exchange for Bitcoin options, two areas that are currently seeing a surge of interest. Related: Strategy’s Bitcoin engine faces $28B STRC ceiling: Delphi Digital “With the proposed acquisition of Equiniti, we will have all three elements required to become a powerhouse leading the blockchain era,” said Bullish CEO Tom Farley. “End-to-end tokenization services, a unified transfer agent ledger, and broad blue-chip issuer relationships.” Bullish’s results came the same day rival exchange Gemini reported a mixed first quarter, with revenue of $50.3 million missing estimates while its net loss of $109 million exceeded expectations. Coinbase also missed consensus after it reported its first-quarter earnings last week, with $1.41 billion in revenue missing expectations of $1.5 billion, while its $394.1 million net loss, its second consecutive quarterly loss, also fell short of forecasts. Magazine: Guide to the top and emerging global crypto hubs: Mid-2026 More on the subject

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