Asset Management

Fidelity’s crypto unit revenue surges 1,800% as hiring boom adds to costs

The results come amid ambitious plans from Fidelity to double headcount this year across its digital assets business globally

Fidelity’s digital assets unit bucks a brutal downturn that has wiped more than 2,700 jobs from the crypto sector
Fidelity’s digital assets unit bucks a brutal downturn that has wiped more than 2,700 jobs from the crypto sector Photo: Alamy

Revenue spiked at Fidelity's fledgling digital assets business in the UK last year, as more institutional investors flocked towards trading and holding crypto.

But despite a 1,804% jump in turnover, the unit's loss widened to £3.4m as staff costs also swelled.

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