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BitGo Q3 profit nearly doubles on crypto gains as revenue falls 51%

By Cointelegraph by Zoltan Vardai

BitGo’s $71 million unrealized gain on its crypto holdings helped nearly double its net income, but revenue and earnings came in below preliminary analyst expectations.

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Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

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Revenue

The total money a company earns from selling goods or services before any costs are subtracted.

Revenue growth shows demand for a company's products; profit shows whether it earns money from them.

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Quarterly results

A public company's report of its revenue, profit and outlook for a three-month period.

Results show how a business is really doing and often move its share price sharply.

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