Antalpha (NASDAQ:ANTA) posted an explosive fourth quarter on Tuesday, capitalizing on a sharp rise in institutional demand for Bitcoin-backed financing and a timely strategic bet on tokenized gold.
The digital asset technology firm reported fourth-quarter revenue of $28 million, a staggering 110% increase year-over-year.
The growth propelled full-year 2025 revenue to $79.7 million, up 68% compared to 2024.
Net income for the quarter reached $9.3 million, contributing to a total annual profit of $18.5 million.
The quarter’s outsized performance was significantly influenced by a $134 million purchase of Tether Gold (XAUt).
This move yielded a $10.4 million unrealized gain, which helped drive adjusted EBITDA to $18.4 million for the three-month period.
Operational metrics also suggest that Antalpha is rapidly becoming a central node in the institutional crypto-lending market.
The company reported $3.7 billion in total Bitcoin collateral held on its platform, with total Total Value Locked (TVL) facilitated reaching $2.6 billion—a 59% jump from the prior year.