TechFlow reports that on May 14, BitGo released its first-quarter 2026 financial results. Total revenue for Q1 amounted to $3.774 billion, representing a 112.6% year-on-year increase but a 38.7% sequential decline. Net loss stood at $60.7 million, compared to a net loss of $25.7 million in the same period last year. During the same period, BitGo’s newly launched derivatives business recorded approximately $3 billion in notional trading volume. The company noted that some client trading activity shifted from spot to derivatives; as derivatives revenue is recognized on a net basis while spot transaction revenue is recognized on a gross basis, the related revenue recognition methodology is not fully comparable with prior periods. The number of clients reached 5,569 in Q1, up 42% year-on-year.
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