Bigg Digital Assets’ Netcoins reports Q1 trading volume $334M

Q1 2025 Financial Results: Q1 2025 trading volume was approximately $334 million, compared to Q1 2024’s trading volume of $265 million, marking a 26% increase YoY; Total Q1 2025 trading and staking revenue is expected to be $3.3 million, marking an increase of 6% over Q1 2024 revenues of $3.1 million. Gross margin from trading remained consistent at approximately 1%; Operating expenses were roughly $2.1 million. Net loss was approximately $676k, and included unrealized losses of $2.05 million on crypto inventory due to a decline in crypto prices. In Q1 2024, the net income was $4.2 million and included unrealized gains of $3.98 million due to crypto price appreciation. When comparing the two periods, adjusting to remove the effect of unrealized gains or losses on crypto inventory due to price fluctuation, normalized income for Q1 2025 was $1.38 million and Q1 2024 was $239k; Netcoins’ cash and digital assets are valued at approximately $16.9 million as of March 31, 2025, an increase of 114% from the prior year; Netcoins holds $168 million of Assets under Custody as of March 31, 2025, an increase of approximately 92% from the prior year.