The digital asset manager’s revenue contracted to $51.4 million from $80 million, reflecting broader volatility across the sector. Chief Executive Jean-Marie Mognetti identified the period as one of the most challenging in recent years, noting that bitcoin prices plummeted by roughly one-third between January and June.

Despite the financial downturn, leadership maintains that the firm’s core European operations remain resilient. They emphasize that the drop in assets under management stems primarily from the market-wide devaluation of crypto holdings rather than client redemptions. With shares down 50% year-to-date, the firm is looking toward a potential recovery, citing signs of stabilization in digital asset markets since the close of the reporting period.