
Cypherpunk secures a $46M Zcash gain and turns a $4.7M operating loss into $39.4M profit
The Zcash treasury company had $7.6 million in cash as its biotech subsidiary began seeking resources for Phase 3.
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July crypto trades fell to 1.4 million and average ticket size halved, while quarterly profit rose and eToro agreed a deal to add active US stock trading.

Bakkt revenue fell 70%, while losses from continuing operations and adjusted EBITDA widened, leaving the operating picture weaker.

The six-month loss was largely non-cash, while the Ethereum treasury says fully converting its portfolio to staking could take about 90 days.

The June 30 loss was unrealized, but a $7.8 million credit-loss allowance and 109% share-count increase sharpen the capital-allocation test.

Its Aug. 7 filing keeps more token sales, equity or traditional financing on the table until operations can support themselves.

The 2025 statements recorded €5,315 in other income and €373,857 in cash before the April acquisition.



