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Crypto firms step up search for new revenue as trading gains fall short in downturn

Crypto companies are accelerating efforts to diversify revenue as trading income weakens amid slower bitcoin and ether prices. Exchanges, brokers and stablecoin firms are expanding into derivatives, prediction markets and financial infrastructure to respond to the market downturn. Coinbase and Robinhood are widening financial services, while Gemini is extending into new products. Corporate treasury-focused firms are also revising strategies, with Strategy reporting a net loss tied to bitcoin’s decline.