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.

Baek Hoon-jong (백훈종), CEO of DA Ground, which runs bitcoin accumulation service Smashfi, said he concluded bitcoin is the only cryptocurrency suitable for storing value and long-term saving. The company launched the centralized crypto finance service Sandbank in 2021 but shifted to a bitcoin-focused model after introducing Smashfi in October 2023. Baek said Smashfi targets self-custody users globally and plans further overseas expansion.