Digital asset custodian BitGo (BTGO) reported its third-quarter 2026 financial results, with revenue of $2.852 billion, down 50.9% year over year and 34.1% quarter over quarter, primarily due to weaker crypto asset trading activity. Despite the sharp decline in revenue, net income rose 94.4% year over year to $44.1 million, mainly driven by $71.5 million in unrealized gains from its digital asset treasury. Excluding direct costs, the company’s revenue for the quarter was just $37.3 million, and adjusted EBITDA was a loss of $4.3 million, compared with a profit of $13.5 million in the same period last year. At the end of September, BitGo held 2,399 BTC of its own, worth approximately $200 million. (The Block)