Coincheck Swings to $26.3 Million Quarterly Loss as Revenue Falls 43%

Coincheck Group N.V. swung to a fiscal second-quarter loss as crypto marketplace trading volume fell and an impairment at its European brokerage subsidiary weighed on results. The company posted a $26.3 million net loss for the quarter ended Sept. 30, reversing a $2.3 million profit a year earlier. Revenue declined 43% to $480 million. Marketplace trading volume fell 56% to $264 million. Coincheck also recorded an $18.8 million impairment related to Aplo, its European crypto brokerage subsidiary. Lower trading volume and higher selling, general and administrative expenses also weighed on the quarter. Verified accounts stood at 2.87 million as of Sept. 30, up 18%, even as customer assets fell 26% to $5.58 billion.

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