For the full year, Block’s bitcoin revenue declined 29% from 2021 due to the fall in the price of bitcoin, the company said. Original
Block’s Q1 Bitcoin Revenue Rises 18% From Q4, Gains 25% From a Year Ago
Month: May 2023
Coinbase Shares Rise as Q1 Revenue Grows 23% From Q4 to $773M
“America is in a position to lead in crypto and help update the global financial system,” Coinbase said in a letter to shareholders. “We need crypto specific rules, rather than regulation by enforcement, to help this innovative technology flourish and for America to maintain its leadership position.” Source 773MCoinbaseGrowsRevenueRiseShares CryptoX Portal
Coinbase Shares Rise as Q1 Revenue Grows 23% to $773M From Q4
Crypto exchange Coinbase (COIN) reported Q1 revenue of $773 million, exceeding analyst estimates of $655 million, according to FactSet, and up from Q4 revenue of $629 million. The company reported an adjusted loss of $0.34 per share, compared to an analyst estimate for a loss of $1.45 per share and a narrowing from Q4’s loss of $2.45 per share. Source
Biden Aides Explore Minting $1 Trillion Platinum Coin as Solution to Impending Debt Default – Economics Bitcoin News
As the United States stares down the barrel of a potential debt default come June, a curious and intriguing solution has emerged: crafting a single $1 trillion platinum coin. This unusual tactic exploits a legal loophole that allows the Treasury Department to mint platinum coins of any value. By delivering such a coin to the U.S. central bank, the Treasury would create enough funds to settle its debts. Though this proposal might sound bizarre, it’s gained traction as a potential escape route from the impending debt catastrophe. The Trillion-Dollar Platinum…
FTX bankruptcy judge approves sale of LedgerX
The judge presiding over crypto exchange FTX’s bankruptcy case has given the green light to a motion allowing the sale of LedgerX. In a May 4 hearing in United States Bankruptcy Court for the District of Delaware, Judge John Dorsey approved a motion from the FTX debtors filed in April to sell LedgerX to M7 Holdings, an affiliate of Miami International Holdings. FTX said at the time of the purchase agreement that the total proceeds of the transaction would total roughly $50 million. According to lawyers speaking at the hearing,…
El Salvador’s school program raises over $29k via Bitcoin Lightning Network
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied My First Bitcoin, an El Salvadoran nonprofit program, has raised over 1 bitcoin (BTC) in less than three weeks from Bitcoin education enthusiasts. Support has poured in from countries such as Venezuela, Poland, and Canada, with hundreds of people sending satoshis (the smallest denomination of bitcoin) over the Lightning Network (LN) to help fund the expansion of My First Bitcoin’s Bitcoin Diploma program. We did it! We crowdfunded 1 BTC on @geyserfund in April A matching…
Microsoft axes Bing wait list, giving users free access to GPT-4
Microsoft recently announced a slew of new artificial intelligence (AI)-powered features for its Bing chatbot and Edge web browser. Chief among the changes, Bing users now have full access to the GPT-4 model — the same underlying engine that powers ChatGPT’s “Plus” subscription service. Previously, Microsoft held access to the GPT-4 version of the Bing chatbot to a “limited preview.” It’s now announcing open availability through the Bing app, web access and the Edge browser. Aside from giving Bing, Edge and Windows users free, unfettered access to the GPT-4 model,…
The Reactionary Political Theater of CBDC Bans
What all of that research has revealed is … complicated. There are legitimate risks associated with CBDCs, and theoretical impacts that could reshape the financial sector as we know it. A “retail” CBDC, for instance, essentially a checking account kept at the Federal Reserve that any U.S. resident would be entitled to use, would compete against private banks and credit unions, numerous studies have found. Source
There’s a simple formula for adding crypto to your portfolio
Imagine coming home and opening your fridge to find a jar filled with your favorite juice. After taking a sip, you realize that the kind soul who prepared the juice added too much water, and there’s not much you can do to fix it — removing water from juice is a complicated process. However, if instead the juice-maker was too stingy with water, you can simply dilute the juice with extra water and enjoy a perfect refreshing drink. A similar phenomenon happens with the risk of financial assets. If an…
ETH Liquid Staking Protocol Lido Finance Deposits Surpass 6M Ether After Shanghai Upgrade
Lido has not yet activated withdrawals, pending the release of its version (v)2 protocol upgrade expected later in May. Given the nature of liquid staking, users who want to withdraw from the platform can just sell their stETH derivative token on exchanges. As the token’s price tracks closely to ETH’s, Lido likely isn’t facing significant withdrawal pressure, Kunal Goel, an analyst at crypto research firm Messari, wrote in a report Wednesday. Source