Everything web3, crypto, defi, degen
In brief Analysts’ Coinbase forecasts had called for $1.59 billion in total revenue. The crypto exchange giant has made multiple major acquisitions this year, including for options trading platform Deribit. The company’s stock price was down more than 6% in after-market trading. Coinbase clocked $1.5 billion in total revenue, a 25% drop from the previous financial quarter, as…
In brief Ethereum celebrated its 10th anniversary on Wednesday, persevering through a decade of existential threats and evolution. Over the next 10 years, advocates believe the network will complete a spree of upgrades, improve layer-2 interoperability, and become the “settlement layer for everything.” Consensys pushed back on concerns that quantum computing could pose an existential…
In brief Robinhood disclosed $989 million in second-quarter revenue. Profits rose quarter-over-quarter to $386 million. The company’s stock has more than doubled so far this year. Robinhood posted a stronger-than-expected performance in the second quarter, surpassing analyst expectations yet again this year, despite a cooldown in revenue from crypto trading.The retail brokerage posted $989 million…
Kraken is in build mode. We are creating a multi-asset platform that enables anyone to trade anything, anytime, anywhere. In Q2, our pace accelerated — new products launched, global access expanded and infrastructure scaled. We are pushing the envelope on geo expansion and establishing ourselves as the infrastructure provider that will power the next generation…
In brief Beijing and Washington discussed prolonging the 90-day tariff pause, but no agreement was reached. Bitcoin slipped slightly to $118,000 as traders await clarity on macro policy signals. Focus now shifts to Wednesday’s Fed meeting, with markets pricing in a 65% chance of a September rate cut. Bitcoin and the broader crypto market remained…
In brief The Senate just released a discussion draft of its own crypto market structure legislation. The House passed a companion bill last week, dubbed the CLARITY ACT. The Senate’s version differs in some meaningful ways, but the aim is the same. And it directly impacts crypto startups and future token sales through ICOs. The…
In brief Prometheum can custody a handful of tokens, but it’s now racing to support on-chain securities, founder and co-CEO Aaron Kaplan said. Kaplan testified on Capitol Hill in 2023 that the SEC had laid out a clear path to compliance for crypto firms. Some tokenized offerings resemble gambling, Kaplan argued. Tokenization could revolutionize finance,…
In brief JPMorgan is reportedly exploring crypto-backed loans secured by Bitcoin and Ethereum. The move follows growing institutional interest and regulatory clarity, including the recent passage of the GENIUS Act. Experts say Basel III rules remain a hurdle, but JPMorgan’s plans may signal progress toward treating crypto as acceptable collateral in TradFi. JPMorgan Chase is…
In brief Bitcoin enthusiasts have often likened the cryptocurrency to “digital gold,” a decentralized alternative to precious metals. Recent academic research has indicated that Bitcoin and gold may serve fundamentally different investor types. At present, research indicates that Bitcoin lacks the historical track record, stability, and crisis-tested resilience of gold—though that could change with time.…
In brief Bitcoin has climbed back to $120,000 after briefly pulling back to a local bottom $114,000. Institutional flows have resumed, with ETF inflows and treasury adoption gaining ground. Analysts point to macro headwinds including inflation risk, geopolitical tensions, and the potential for a dollar rebound. Bitcoin has reclaimed the $120,000 mark following a brief…
