Gemini Space Station Q1 Highlights
Q1 Revenue: $50.27 million, versus estimates of $49.29 million

Q1 Loss: 93 cents, versus estimates of 96 cents

Total revenue was up 42% on a year-over-year basis, driven by strong growth in services and OTC revenue. Gemini Space Station reported 589,000 monthly transacting users, up 17% year-over-year.

Gemini Space Station ended the quarter with $215.6 million in total cash and cash equivalents.

Gemini Space Station also announced Winklevoss Capital Fund made a $100 million strategic investment into the company at $14 per share.

“We believe the market has significantly undervalued Gemini, and that this investment will allow us to set up the company…

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Markets historically deliver their strongest returns under divided government rather than full political sweeps, according to analyst Benjamin Cowen.

He examined the performance of the S&P 500, Bitcoin (CRYPTO: BTC) and gold across different U.S. political power structures — with surprising conclusions.

BTC On Political Party Sweeps

In a podcast published on May 13, Cowen argued Bitcoin historically reacts poorly to full political party “sweeps,” as both Democratic and Republican control correlate with weaker median returns despite strong outlier years like 2017.

He noted Bitcoin’s best median performance has historically come under split governments, suggesting markets may prefer…

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Anthropic’s Claude helped a user recover 5 Bitcoin (CRYPTO: BTC) worth $395,000 by locating an old wallet backup file on their computer.

Claude Found The File, Not The Password

The owner had been trying for eight weeks to brute-force the password on their current Blockchain.com wallet, testing roughly 3.5 trillion combinations using the btcrecover service on a rented computing chip. 

Total GPU spend on the failed brute-force attempts was around $15.

The recovery happened when the user “dumped my whole college computer into Claude” as a last-ditch effort. 

The AI assistant found an old wallet backup from December 2019 that the user had encrypted with a password already written down in…

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The move strengthens USDC’s position as a core liquidity layer for decentralized trading and broader on chain capital markets.

Why It Matters

In a May 13 blog post, Coinbase said concentrating liquidity around USDC improves market efficiency by reducing the need for stablecoin conversions while enabling faster capital movement across trading venues.

The company also framed the integration as part of a broader push toward 24/7 on chain capital markets powered by stablecoin infrastructure.

Coinbase will now have the rights to acquire USDH brand assets. Also, USDH remains fully backed during the transition period, with users still able to redeem into USDC or fiat without fees.

The Bigger Picture

Benzinga

Bitcoin climbed back above $81,000 after the Senate Banking committee advanced the Clarity Act, helping boost optimism around improving crypto regulation and institutional adoption.

Notable Statistics:

Coinglass data shows 179,931 traders were liquidated in the past 24 hours for $674.74 million.       

SoSoValue data shows net inflows of $440.7 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ET’Fs saw net inflows of $69.05 million.

In the past 24 hours, top losers include (CRYPTO: ), (CRYPTO: ) and (CRYPTO: ).

Notable Developments:

Trader Notes:

Crypto trader Jelle said Bitcoin bulls are actively defending key support while pushing price back toward the important…

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The CLARITY Act cleared the Senate Banking Committee 15-9 Thursday, sending crypto stocks and tokens surging.

Democrats Split On Crypto Bill

The vote received bipartisan support, with Democratic Senators Ruben Gallego (D-AZ) and Angela Alsobrooks (D-MD) breaking ranks to vote in favor alongside all Republican committee members.

Angela Alsobrooks clarified that she would not support the bill on the Senate floor unless lawmakers address the remaining issues.

She emphasized her nine months of negotiations working toward regulating digital assets in a way that protects consumers and reduces deposit flight risk.

“In recognition of that good faith, I have voted yes to advance the bill today,”…

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