antalpha

Cryptocurrency financing company Antalpha reported a net loss of $12.5 million in the second quarter, with revenue of $12.2 million, down 28% year over year. The loss was mainly driven by a decline in the fair value of tokenized gold holdings, resulting in unrealized losses. The revenue drop reflects that demand for crypto financing and institutional trading activity remain under pressure, and that profitability in crypto financial services continues to be affected by asset price cycles.

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