eToro Crypto Revenue Slides Despite Strong Quarterly Profits

eToro recently shared its second quarter financial results. While the platform beat overall profit estimates, its crypto revenue took a hit. Total crypto trading commissions fell to 1.35 billion dollars for the period.

Despite the cooling interest in crypto trading, the company is still in growth mode. It announced a deal to acquire the American brokerage firm TradeZero. This acquisition could cost up to 231 million dollars.

These results show a shift in how the platform makes money. Investors are watching to see if the expansion into new brokerages can offset the current slowdown in crypto volume. All eyes are now on how the company integrates its new purchase.