Cryptocurrency exchange Coinbase (NASDAQ:COIN) exceeded expectations in its first-quarter earnings report, outperforming both revenue and earnings projections. The company reported revenue of $1.64 billion, surpassing estimates of $1.32 billion, with adjusted earnings per share (EPS) reaching $4.40, exceeding the projected $1.07. To analyze Coinbase’s performance, Steve Jang, Founder and Managing Partner of Kindred Ventures, joins … Continue reading "Coinbase Beats Q1 Estimates"
Led by CEO Jack Dorsey, payments firm Block (NYSE:SQ) has commenced a dollar cost averaging initiative to expand its substantial bitcoin reserves. Starting in April, the company allocated 10% of its monthly bitcoin-related gross profit to purchase additional bitcoin, intending to continue this practice throughout 2024. During the first quarter, Block reported $80 million in … Continue reading "Block Leads with Bitcoin Acquisition Program"
Vodafone (NASDAQ:VOD)is gearing up to address the anticipated surge in cryptocurrency demand on mobile phones by leveraging SIM card technology. David Palmer, the telecom giant’s blockchain lead, discussed with Yahoo Finance Future Focus how Vodafone is spearheading blockchain utilization on mobile devices to streamline crypto transactions. Palmer emphasized the integration of mobile phone SIM cards … Continue reading "Vodafone Utilizes SIM Card Tech for Mobile Crypto Surge"
Coinbase announced a remarkable first quarter, with revenue reaching $1.6 billion, marking a substantial 72% increase from the previous quarter and a significant rise from $736 million in the same period last year. The company also reported a notable swing in net income, posting $1.18 billion for the quarter compared to a loss of $79 … Continue reading "Coinbase Q1 Earnings Surge to $1.6 Billion"
Tether announced on Thursday its collaboration with blockchain surveillance firm Chainalysis to monitor transactions involving its tokens on secondary markets. The move aims to enhance Tether’s ability to identify and address potential risks associated with illicit activities such as terrorist financing and sanctions evasion. The monitoring system, which includes capabilities for international sanctions compliance and … Continue reading "Tether Partners with Chainalysis Amid Rising Regulations"
LayerZero has taken a snapshot as it gears up for its anticipated airdrop, scheduled for the first half of 2024. A snapshot typically precedes outflows as investors participating in airdrops often redistribute liquidity to other projects. Developers of the cross-chain interoperability protocol hinted at additional airdrops in the pipeline, signaling ongoing developments within the ecosystem. … Continue reading "LayerZero Begins Snapshot for Airdrop, Teases Future Drops"
Robert Mitchnick, BlackRock’s(NYSE:BLK) head of digital assets, revealed that financial institutions are engaging in diligence and research discussions, with BlackRock providing educational support. BlackRock has been actively discussing bitcoin with these institutions for several years. Despite the recent break in inflows into spot bitcoin exchange-traded funds, BlackRock anticipates a resurgence driven by a new wave … Continue reading "BlackRock Foresees Influx of Sovereign Wealth Funds and Pensions into Bitcoin ETFs"
MicroStrategy, known as the largest corporate holder of bitcoin, has announced its intention to develop a decentralized identity service utilizing Ordinals inscriptions. Earlier this year, the software consulting firm rebranded itself as a “bitcoin development company,” emphasizing its commitment to advancing the Bitcoin network through various means such as financial markets, advocacy, and innovation. The … Continue reading "MicroStrategy Reveals Plan for Bitcoin-Based Decentralized Identity System Using Ordinals"
MoonPay, a popular cryptocurrency purchasing app, has forged a partnership with financial services behemoth PayPal to offer American users a streamlined method for buying cryptocurrencies using their PayPal accounts. This collaboration aims to streamline the process of purchasing cryptocurrencies for millions of Americans. It enables users to conduct wallet transfers, bank transfers, and debit card … Continue reading "MoonPay Teams Up with PayPal to Simplify Crypto Purchases for US Users"
JPMorgan, a prominent financial institution on Wall Street, maintains a cautious outlook on cryptocurrency markets in the short term due to several factors, including the fading retail impulse and the absence of positive catalysts. According to the bank’s analysis, retail investors were significant contributors to the recent sell-off in both crypto and equity assets during … Continue reading "JPMorgan Attributes Crypto Market Sell-Off to Retail Investors"
Two bipartisan lawmakers, Reps. Wiley Nickel, D-N.C., and Drew Ferguson, R-Ga., have introduced the Providing Tax Clarity for Digital Assets Act. The bill aims to clarify that staking rewards should only be taxed at the time of their sale to prevent double taxation. Rep. Ferguson emphasized the need for clarity in the treatment of digital … Continue reading "New US Bill Aims to Clarify Taxation of Staking Rewards"
Securitize, a leading player in RWA tokenization, has closed a significant $47 million funding round, with BlackRock spearheading the investment. This collaboration underscores the growing momentum and promise within the RWA tokenization landscape. The investment round, announced on May 1, saw participation from key financial institutions including Hamilton Lane, ParaFi Capital, and Tradeweb Markets. The … Continue reading "Securitize Raises $47M Led by BlackRock for RWA Tokenization"
Spot-Bitcoin exchange-traded funds (ETFs) are exhibiting signs of stress as the cryptocurrency market endures a downturn, with prices of major ETFs tracking Bitcoin witnessing significant discounts to their underlying asset values. Following a roughly 5% decline in Bitcoin’s price, several leading ETFs recorded their largest discounts on the value of underlying assets in their short … Continue reading "Bitcoin ETFs Show Record Discounts, Signaling Stress"
On April 23, three days after the Bitcoin halving event, an impressive 1.6 million unique Bitcoin transactions were recorded, according to data from Blockchain.com and Glassnode. This notable increase in transactions indicates a growing interest in using Bitcoin for everyday transactions, expanding its conventional role beyond being merely a store of value. Bitcoin Runes Lead … Continue reading "Bitcoin Hits Record 1.6M Confirmed Daily Transactions"
Major U.S. crypto stocks, including bitcoin stockpiler MicroStrategy and leading exchange Coinbase, experienced significant losses in Tuesday’s trading session. MicroStrategy reported a 5% year-over-year decrease in first-quarter revenue, contributing to a sharp decline in its share price. MicroStrategy’s shares plummeted by as much as 17% on Tuesday following news of its missed earnings and the … Continue reading "MicroStrategy Shares Plummet 17% Amid Crypto Stock Selloff"
Roger Ver, an early investor in Bitcoin, has been arrested and charged with mail fraud, tax evasion, and filing false tax returns. The U.S. Department of Justice announced the charges, revealing that Ver allegedly concealed Bitcoin ownership from the U.S. Internal Revenue Service (IRS), leading to an estimated loss of $48 million. The indictment, recently … Continue reading "Bitcoin Investor Roger Ver Arrested for Alleged Tax Fraud"
Coinbase, the largest crypto exchange in the United States by trading volume, has initiated support for the Lightning Network starting today, marking a significant step towards enabling faster and more cost-effective bitcoin transactions for its users. The integration follows seven months after Coinbase confirmed its decision to incorporate the Lightning Network protocol, aligning with competitors … Continue reading "Coinbase Adds Lightning Network Support with Lightspark"
The launch of crypto exchange-traded funds (ETFs) in Hong Kong fell short of expectations, with trading volumes significantly lower than anticipated. Trading volume for Hong Kong’s crypto ETFs totaled just over $11 million, with bitcoin ETFs accounting for $8.5 million and ether ETFs for $2.5 million. This figure paled in comparison to initial projections, which … Continue reading "Hong Kong Bitcoin and Ether ETFs Debut with Low Activity"
Switzerland-based Backed has successfully closed a $9.5 million fundraising round, with Gnosis leading the investment charge. According to one asset management company’s forecast, the tokenized real-world asset market could reach a staggering $10 trillion by the decade’s end. Backed, a tokenized asset issuer, announced on Tuesday that it secured $9.5 million in funding, with Gnosis … Continue reading "Backed Raises $9.5M Led by Gnosis in Crypto’s Asset Race"
In response to mounting regulatory pressure, Wasabi Wallet and Phoenix have ceased operations for customers in the United States. The companies behind these wallets, zkSNACKs and ACINQ respectively, announced the suspensions following recent actions taken by U.S. authorities against similar cryptocurrency services. zkSNACKs has taken proactive measures to block access to its services from U.S. … Continue reading "Wasabi Wallet and Phoenix Exit US Amid Crypto Wallet Crackdown"
South Korea is taking proactive measures to address the surge in cryptocurrency-related crimes by considering the transformation of its temporary crypto-crime investigative unit into a permanent department, as per a local report. The nation witnessed a substantial increase in suspicious transaction reports from crypto companies, prompting the government to enhance its efforts in combating fraudulent … Continue reading "South Korea Establishing Crypto Investigative Unit Amid Crime Surge"
Ether has demonstrated strong performance against Bitcoin for two consecutive weeks, indicating a growing interest in altcoin gains following recent market developments, according to analysts at Bitfinex. Despite bitcoin’s halving event, ether recorded a notable 7.5% increase in its trading pair with BTC, marking its most significant weekly gain against bitcoin since early January. Bitfinex’s … Continue reading "Ether Gains Weekly Against Bitcoin Amid BTC Dominance Drop"
A recent griefing attack on the Bitcoin testnet has caused significant disruption, leading to the generation of three years’ worth of blocks in just one week. Griefing attacks involve intentionally spamming transactions on a network, increasing its workload, and disrupting its normal operations. Jameson Lopp, co-founder and Chief Security Officer of Casa, publicly claimed responsibility … Continue reading "Bitcoin Testnet Experiences Disruption Due to Griefing Attack"
Trust Wallet has made a swift return to the Google Play Store after experiencing a temporary removal on Monday morning, causing concern among Android users relying on the crypto wallet service. The company addressed the issue via its official channels, acknowledging Google’s decision to temporarily remove the app from the Play Store. Despite submitting an … Continue reading "Trust Wallet Returns to Google Play Store"
Tether, the prominent issuer of stablecoin USDT, announced on Monday a significant investment of $200 million to acquire a majority stake in Blackrock Neurotech, a pioneering brain-computer interface company. Through its venture capital arm, Tether Evo, the company aims to support the development and commercialization of Blackrock Neurotech’s groundbreaking medical devices. Blackrock Neurotech specializes in … Continue reading "Tether Acquires Majority Stake in Blackrock Neurotech"
Cryptocurrency exchange Binance finds itself entangled in a fresh legal battle as a new class-action lawsuit unfolds in Canada. Plaintiffs allege that Binance has run afoul of local securities regulations. The Ontario Superior Court of Justice has initiated a certification motion for a class-action lawsuit against Binance. The core accusation revolves around the sale of … Continue reading "Binance Faces Class-Action Lawsuit in Canada, CZ Potentially Facing 36 Months in Prison"
Michael Saylor’s bold move to embrace Bitcoin in 2020 has yielded substantial gains for the co-founder and executive chairman of MicroStrategy Inc (NASDAQ:MSTR). Saylor has reportedly earned around $400 million from pre-planned daily sales of approximately 5,000 shares of MicroStrategy since January, fueled by the stock’s remarkable surge. The stock, which has doubled this year … Continue reading "MicroStrategy’s Saylor Profits from Bitcoin Surge"
This week witnessed a notable shift in the momentum of two of the most successful exchange-traded fund launches in history. BlackRock’s (NYSE:BLK)spot Bitcoin ETF, IBIT, renowned for its remarkable performance, experienced zero inflows on Wednesday and Thursday, marking the end of its 71-day streak of fresh investments totaling approximately $17.24 billion in assets under management … Continue reading "Bitcoin ETFs Slow: BlackRock’s IBIT Streak Ends, Fidelity Sees Outflows"
Total net outflows from 11 U.S. spot bitcoin ETFs reached $120 million on Wednesday, with eight products recording zero flows, a trend deemed normal by analysts. Grayscale’s GBTC witnessed $130.42 million exiting the converted bitcoin ETF, while Fidelity and Ark Invest’s funds were the sole recipients of inflows, totaling approximately $10 million. Among the eight … Continue reading "US Bitcoin ETFs: Daily Outflow Hits $120M"
A recent report from Fidelity Digital Assets highlights a substantial increase in the number of Bitcoin addresses holding at least $1,000 worth of Bitcoin (BTC). Fidelity’s analysts reveal that this segment soared to an unprecedented 10.6 million wallets in mid-March, marking a doubling from the 5.3 million addresses recorded in 2023. The surge in Bitcoin … Continue reading "Bitcoin Ownership Surges as Small Addresses Hit Record High"
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