Mizuho lowers BitGo price target to $11, says Clarity Act delays may benefit firm
The Block •
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Promote with Leviathan News$4.33B sounds like scale until [BitGo’s Q2 10-Q](https://www.sec.gov/Archives/edgar/data/1740604/000174060426000050/btgo-20260630.htm) shows $4.19B in digital-asset sales costs and $35.7M in sponsor fees against $38.8M of Stablecoin-as-a-Service revenue. The charter moat is doing more work than the income statement, with adjusted EBITDA at negative $4.2M.
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