Coinbase Q2 report exceeds analyst expectations despite legal battle with SEC

Coinbase released its financial results for the second quarter of the year, beating the analysts’ expectations. The company reported $663 million in net revenue, which is down by 10% compared to the same period last year. Coinbase also disclosed an…

1659 +

Exclusive - Tether Purchased 1,529 Bitcoin in Q2, CTO Confirms

The company behind the USDT stablecoin added $45 million worth of bitcoin to its balance sheet last quarter, CTO Paolo Ardoino confirmed to Bitcoin Magazine.

177 +

Robinhood turns profitable in Q2, but crypto revenue declines

Robinhood achieved profitability for the first time since becoming a public company in the second quarter of 2023. Its crypto revenue, however, continues to decline.

366 +

MicroStrategy narrowed its crypto-related impairment charge sharply in Q2

MicroStrategy bought another 12,333 Bitcoin in its second quarter. The business intelligence company returned to profitability in Q2. MicroStrategy stock has roughly tripled versus the start of 2023.

291 +

Tether Reports $3.3B in Excess Reserves in Q2, Up $850M for the Quarter

The company said its operational profits exceeded $1 billion in Q2 this year.

244 +

Bullish MicroStrategy Analysts Raise Price Targets Ahead of Q2 Earnings

Analysts are bullish on software company MicroStrategy (MSTR), which reports earnings for the second quarter after the market close on Tuesday, and it’s all thanks to the many bitcoin (BTC) it holds.

263 +

Spotify Grows Revenue to €3.2B in Q2 2023, with 551M Active Users 

Coinspeaker Spotify Grows Revenue to €3. 2B in Q2 2023, with 551M Active Users  Spotify's Q2 2023 figures shows a strong quarter as its revenue and monthly active users both beat the company's guidance.

284 +

BREAKING: No Bitcoin Sale From Tesla, Electric Car Giant Holds On As BTC Bounces Back To $30,000

Tesla has released its Q2 2023 earnings report, which has been highly anticipated by investors, and it shows no signs of Bitcoin movement for the electric car giant in the previous quarter. The report shows that the company has had a record-breaking quarter, with the best-ever production and deliveries and revenue approaching $25 billion in a single quarter, despite the current macroeconomic environment.

369 +

Major Banks’ Billion-Dollar Bet on Bitcoin: Unraveling the 2023 Crypto Investment Boom

In a surprising turn of events, major banks have been observed making significant investments in MicroStrategy (MSTR), a company renowned for its substantial Bitcoin holdings. This trend, which emerged in the first quarter of 2023, has sparked intrigue and speculation within the cryptocurrency community.

306 +

Nvidia Earnings Outlook for Current Quarter Induces AI Rally as Company Boosts Production

Coinspeaker Nvidia Earnings Outlook for Current Quarter Induces AI Rally as Company Boosts Production Nvidia recently increased its quarterly earnings guidance on the back of solid demand, also sparking a rally in AI stocks.

308 +

Coinbase (COIN) Stays Solid Despite Reporting Multimillion-Dollar Losses

On May 5th, Coinbase shares increased by 18. 33%, despite the company’s latest revenue report for the first quarter of 2023, which showed multimillion-dollar losses despite the rise in Bitcoin prices.

303 +

MARA stock price forecast: technicals are supportive

Marathon Digital, a leading mining company, published strong results. The company mined more bitcoins in Q1 than in the same quarter in 2022. Marathon’s technicals on the daily chart are bullish.

199 +

Coinbase stock: H.C. Wainwright updates COIN price target, reiterates Buy rating

Coinbase shares traded above $60 on Wednesday, up more than 24% in the past five days and over 80% higher in year-to-date returns.   Incidentally, the price of COIN has remained positively poised after the company’s revenue beat as announced in its first quarter 2023 results.

311 +

PayPal customers increase crypto deposits to $943M

PayPal disclosed it holds $943 million in customers’ crypto assets, up 56% from the previous quarter. The company enables users in some regions to buy, hold, sell, and pay for purchases using cryptocurrency.

259 +

Coinbase Q1 Report: Net Revenue Skyrockets 22% Quarter-Over-Quarter

Coinbase, one of the leading cryptocurrency exchanges, has reported impressive results for the first quarter of 2023. The company’s efforts toward building a more efficient and financially disciplined business have started to pay off.

334 +

Coinbase Jumps 17% Post-Earnings; Analysts Praise Results but Worry About Regulatory Uncertainty

Coinbase (COIN) shares are up sharply after the company’s first quarter results topped analyst estimates on both revenue and loss per share.

281 +

Coinbase share price spikes 7.9% as Q1 results beat expectations

Coinbase CEO Brian Armstrong called the quarter a “turning point” for the company as it works toward being more “financially disciplined.”

303 +

Coinbase reports 22% revenue growth, net loss of $79M for Q1; notes lower volatility in Q2

Coinbase said May 4 that its net revenue increased by 22% quarter over quarter to $736 million and its operating expenses fell by 24% from the previous quarter. The reduction in operating expenses is related to the fact that the company laid off 950 employees in January.

291 +

Coinbase Losses Expected to Narrow; Analysts Seek Details About International Exchange

Traders of U.S.-based crypto exchange Coinbase (COIN) will likely get some relief when the company reports first quarter earnings for 2023 on Thursday.

309 +

Michael Saylor's MicroStrategy Books a Much Smaller Bitcoin Impairment Charge

Amid BTC's big rally, the company's impairment loss narrowed to $18.9 million in the first quarter from $197.6 million in the fourth quarter.

297 +

Intel Sees Largest Quarterly Loss in Q1 2023, Revenue Down 36% YoY

Coinspeaker Intel Sees Largest Quarterly Loss in Q1 2023, Revenue Down 36% YoY According to the report, the company experienced a 133% annual reduction in its earnings per share for the quarter.

171 +

Meta Q1 2023 Results Sees Company Beat Revenue Estimates in What Zuckerberg Describes as ‘Good Quarter’

Coinspeaker Meta Q1 2023 Results Sees Company Beat Revenue Estimates in What Zuckerberg Describes as ‘Good Quarter’ Meta's Q1 2023 performance underscores its commitment to cutting costs and maximizing earnings in its "year of efficiency".

387 +

Tesla sold none of its $321m worth of bitcoin in Q1

Tesla’s Q1 update has revealed that it is holding onto its $321 million worth of bitcoin. This marks the third consecutive quarter that Tesla has kept its crypto holdings the same, purportedly due to the company’s decision not to buy…

329 +

Tesla kept $184M Bitcoin balance in Q1 2023

Tesla’s Q1 earnings show that it maintained a consistent Bitcoin balance in the first quarter of the year. The company’s April 19 release shows it held $184 million of the digital asset in Q1 2023, as it did in Q4 2022.

368 +

Tesla Made No Changes to Bitcoin Holdings in First Quarter

The company booked a gain of $XX million on its bitcoin holdings.

225 +

Interactive Brokers’ chairman on bitcoin: ‘it’s worth nothing but I own some’

Thomas Peterffy owns bitcoin for an unusual reason. He says crypto activity at IBKR has been very slow. BTC is trading well below the $30,000 level today. Interactive Brokers – a financial services company that enables 24/7 trading of bitcoin reported weaker-than-expected earnings for its first financial quarter this week.

348 +

HashKey Group to Debut Regulated Exchange in Second Quarter

The exchange will be open to professional investors and the company is preparing to welcome retail users in "coming months."

269 +

Marathon Digital Mines 2,195 Bitcoins In The First Quarter Of The Year Despite Unsavory Market Conditions

209 +

Nasdaq Targets Mid-2023 For Crypto Custody Launch

Nasdaq Inc. , one of the world’s leading financial institutions and the company behind the popular Nasdaq Stock Exchange, plans to start offering crypto custody services by the end of the second quarter of 2023.

246 +

Analyst says ‘it doesn’t matter’ as Block reports a hit to BTC revenue in Q4

Block reports a 7. 0% decline in its fourth quarter bitcoin revenue. Baird analyst David Koning shares his outlook on the Block stock. Shares of the financial technology company are up 15% year-to-date.

334 +

Tether reports $700 million net profit in Q4 2022

Stablecoin issuer issued its latest attestation report for the fourth quarter of 2022. The company reported a net profit of $700 million in Q4. The profit is in addition to the company’s reserves.

339 +

MicroStrategy says no plans to stop trading BTC as paper loss hits $1.3B

The company also booked a loss of $34 million on its first-ever Bitcoin sale last quarter but said it was conducted to harvest a tax loss.

384 +

MicroStrategy Books Impairment Charge of $197.6M on Q4 Bitcoin Holdings

The business software company reported its fourth quarter results on Thursday afternoon.

289 +

Crypto bank Silvergate suspends preferred stock dividend

Crypto-friendly bank Silvergate announced its suspended payment of dividends on its series A preferred stock. The company’s shares fell more than 11% pre-market after the announcement. Silvergate reported a $1 billion loss in the fourth quarter and also cut its staff by 20% amid the crypto bear market and impact of FTX collapse.

377 +

‘Diamond Hands’ Tesla Still HODLing Over 10,000 BTC, Q4 2022 Report Reveals

274 +

Tesla Did Not Buy or Sell Any Bitcoin in the Fourth Quarter

The company reported $34 million in impairment charges to its bitcoin holdings, however.

346 +

Silvergate reports $1 billion net loss amid significant outflows

Silvergate Capital Corporation (NYSE:SI) and its wholly-owned crypto-focused subsidiary Silvergate Bank, recorded a more than $1 billion net loss during the fourth quarter of 2022, according to financial results the company reported on Tuesday.

203 +

Silvergate Capital posts $1B loss in Q4’22

Silvergate Capital Corporation and its subsidiary Silvergate Bank announced a $1 billion net loss in the fourth quarter of 2022, according to a company report. The post Silvergate Capital posts $1B loss in Q4’22 appeared first on CryptoSlate.

313 +

Wyre said to shut down and lay off employees as CEO declares scaling back

Crypto firm Wyre has reportedly informed its employees it is shutting down operations in the first quarter of 2023. Its CEO insists that the company is scaling back. Wyre, a blockchain-based payments transfer company that has operated since 2013, is…

432 +

Bitfarms records positive adjusted EBITDA of $10 million for 2022 Q3

Bitfarms has ended the third quarter with about a 17% increase in profits. The final stages of Canadian expansion projects are due for completion by year-end. Bitfarms unveils Q3 reports As earlier promised, Bitfarms, a global Bitcoin self-mining company, has…

379 +

Coinbase Reports Higher-Than-Anticipated User Counts Despite Declining Third-Quarter Revenue

The release of the company’s shareholder letter for the third quarter of 2022 was announced today by Coinbase Global, Inc. (the “Company” or “Coinbase”). According to the report, $COIN filed a net loss of $545 Million.  The shareholder’s letter claims…

257 +

Crypto Biz: Is Zuckerberg’s $100B metaverse experiment doomed to fail?

Meta's Reality Labs division lost $3.672 billion in the third quarter. Some shareholders aren't happy with the company's oversized investment in metaverse technology.

377 +

Meta Reports A $3.67 Billion Loss In Its Metaverse Division, Signaling More Problems For The Company

Meta’s problems continue as it records a $3. 67 billion loss in the third quarter of 2022.   Mark Zuckerberg remains optimistic about the prospects of the company, saying it has a “strong impact on the future”.

386 +

Binance Coin Buying Volume Up – Will This Push BNB Up To $275 Level?

Binance Coin (BNB) had an opportunity for a price rally last week after its parent company finally completed the scheduled token burn for the third quarter of the year. BNB price slightly corrected after going up by almost 4% following the latest burning of Binance tokens Binance established $260 as its support level The altcoin might fall to $250 before continuing its price rally With that, the total number of burned (destroyed) BNB tokens reached 2,065,152, which is worth over $563 million.

461 +

Tesla Makes No Changes to Its Bitcoin Holdings in Third Quarter

The electric car company did not buy or sell any bitcoin in the quarter, after selling 75% of its holdings in the second quarter.

312 +

Tesla Made No Changes to Its Bitcoin Holdings in Third Quarter

The electric car company did not buy or sell any bitcoin in the quarter, after selling 75% of its holdings in the second quarter.

254 +

BNY Mellon Says Client Demand for Crypto Led to Custody Offering

Client demand for crypto was the key factor in launching a crypto custody offering, BNY Mellon’s CEO Robin Vince said on the company’s third quarter earnings conference call Monday.

205 +

Valkyrie Crypto Trusts Gather Nearly $74 Million In Funding Amid Bear Market

An alternative investment company, Valkyrie, has added $73. 6 million in capital into two crypto-focused trust funds. Valkyrie initially had $1. 2 billion in assets under management at the end of the second quarter.

378 +

Social Media Giant Snap Disbands Web3 Team Amid Mass Layoffs

The company, which reported its lowest growth numbers in five years in the second quarter, will lay off a fifth of its staff.

369 +