Artificial intelligence startups aim to fill the gap in China as OpenAI’s ChatGPT became unavailable in the country.
Read more on Cointelegraph
- Crunch
- Global
Coinbase reported impressive first-quarter earnings, with revenue reaching $1.6 billion, marking a 72% increase from the previous quarter. The company demonstrated a substantial turnaround in net income, posting $1.18 billion compared to a $79 million loss in the same period last year. Coinbase’s EBITDA hit $1.01 billion, while earnings per share reached $4.04, surpassing the $1.15 consensus estimate. This success was attributed to expanded product offerings, improved market share, and increased market capitalization of USDC.
Revenue from consumer and institutional transactions hit $1.08 billion, with the consumer sector contributing $935.2 million. Notably, institutional transaction revenue grew 113% quarter-on-quarter to $85 million. Despite a 9% surge in regular trading, Coinbase shares dipped about 3% after-hours to $222. Shares have risen almost 50% over the past year, showing sustained investor confidence.
In April alone, Coinbase generated over $300 million in transaction revenue, projecting Q2 subscription and services revenue in the range of $525-$600 million.
Crypto traders are pointing to the M2 money supply turning positive as a bullish signal for Bitcoin.
Read more on Cointelegraph
EigenLayer is handing out an extra 100 to 110 EIGEN to 280,000 qualifying wallet addresses after criticism over its first airdrop.
Read more on Cointelegraph
Memes might be the “most simplistic connection” between financialization, tokenization and culture, says Kain Warwick.
Read more on Cointelegraph
Robert Kiyosaki, the author of the best-selling book “Rich Dad Poor Dad,” has shared his strategy for navigating the ongoing Bitcoin BTC/USD market crash, highlighting the potential for wealth growth during such periods.
What Happened: Kiyosaki took to social media platform X, to share his insights on the current market situation. He began by acknowledging the commencement of a “bad” crash, but also pointed out that such downturns present unique opportunities for wealth accumulation.
He warned against the devaluation of fiat currencies and encouraged his followers to view the crash as a potential turning point in their financial journey.
“DON’T SAVE MONEY: Fake money (US dollar,…
Read more on Benzinga
Bitcoin’s price chart looks similar to when spot Bitcoin ETFs were launched in the United States — suggesting a breakout soon, though there are some differences this time around.
Read more on Cointelegraph
Block Inc. SQ CEO Jack Dorsey addressed a potential Department of Justice investigation during the company’s first-quarter earnings call on Thursday.
What Happened: Dorsey clarified that the company had proactively investigated potential threats in 2022, leading to a thorough review of transactions possibly linked to sanctioned countries.
Dorsey stated, “In 2022, our compliance engineering risk team who proactively investigate threats identified signals that lead us to conduct a thorough review of transactions potentially associated with sanctioned countries.”
According to Dorsey, these transactions were voluntarily reported to the Office of Foreign Assets Control, and the company…
Read more on Benzinga
Ethereum privacy protocol Railgun contributor Alan Scott Jr. says U.S. regulators and government agencies don’t get enough credit for genuinely “trying to understand” crypto.
Read more on Cointelegraph
In a Keynote address at MicroStrategy World: Bitcoin for Corporations, MicroStrategy Executive Chairman Michael Saylor delivered a masterclass on corporate finance and the power of bitcoin to supercharge corporate balance sheets. Saylor made a point to emphasize Bitcoin as the single solution for capital appreciation in an inflationary environment.
In his speech, Saylor likened the cost of capital to being the benchmark which a company must surpass to increase its purchasing power, arguing that “Bitcoin is the only asset that exceeds the cost of capital. Another way to say that, is everything else is dilutive.”Further describing the true cost of capital, he noted that the “S&P is…
Read more on BitcoinMagazine