
Bullish shares jump 10% as Q2 adjusted EBITDA more than triples
Bullish, the institutional-focused crypto exchange and parent company of CoinDesk, reported a 62% year-over-year increase in second-quarter adjusted revenue, reaching $92.6 million. The company’s adjusted EBITDA more than tripled to $29.5 million, while adjusted net income hit $14.3 million, marking a significant turnaround from the previous year's loss. Despite a decline in quarterly trading volume to $179.6 billion, record-breaking subscription and services revenue of $62.7 million bolstered the firm's financial performance. Following these results, Bullish shares rose approximately 10% on the NYSE. Crucially for the RWA sector, the company secured approval from the Gibraltar Financial Services Commission to facilitate secondary trading in issuer-sponsored tokenized securities. This regulatory milestone signals Bullish's strategic pivot toward regulated onchain markets and the integration of tokenized assets into its institutional platform. The firm has subsequently raised its full-year guidance for subscription and services revenue to a range of $225 million to $245 million.










