Bullish Q2 Earnings Report: Digital Asset Sales Reach $32.6 Billion, Subscription Service Revenue Drives 62% Year-over-Year Growth in Adjusted Revenue

August 13th—Cryptocurrency exchange Bullish released its Q2 2026 financial report, with digital asset sales reaching $32.6 billion, a net loss of $2.8 billion; adjusted revenue of $92.6 million, and adjusted EBITDA of $29.5 million. Subscription, service, and other revenue hit a record high of $62.7 million, driving a 62% year-on-year growth in adjusted revenue. On the regulatory front, the company has obtained approval from the Gibraltar Financial Services Commission (GFSC) to become one of the first fully regulated venues to offer issuer-sponsored launchpad tokenized securities secondary trading.

Bullish also disclosed that the acquisition of Equiniti is progressing as planned, with the closing expected in early 2027, subject to customary closing conditions and regulatory approvals.