Crypto platform Bullish reports $563.6 million Q4 loss, shares fall 5%

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Shares of the institution fell 5% successful pre-market trading.

Updated Feb 5, 2026, 12:50 p.m. Published Feb 5, 2026, 12:48 p.m.

Bullish (BLSH), the crypto trading level and genitor institution of CoinDesk, reported a nett loss of $563.6 cardinal for the 4th quarter, a reversal from the $158.5 cardinal successful nett it posted the twelvemonth before.

The institution mislaid $3.73 a share, down from net of $1.37 per share, arsenic it cited non-cash digital-asset remeasurement losses.

Bullish started spot crypto trading successful the U.S. successful September, marking its introduction into a tightly regulated and competitory market. The level saw $64.3 cardinal successful spot trading measurement during the quarter.

It besides debuted an options trading concern arsenic portion of a broader propulsion to diversify its offerings. The caller concern enactment generated $9 cardinal successful options trading measurement for the quarter.

Bullish shares fell 5% successful pre marketplace trading pursuing the net announcement.

Bullish went nationalist connected the New York Stock Exchange successful August done a nonstop listing. The institution had antecedently operated arsenic a backstage speech focused connected organization clients.

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