Deutsche Bank analysts believe most stablecoins are doomed to fail following an internal analysis of 334 currency pegs over the past 200 years. “Some may survive, although most will likely fail,” wrote the German banking powerhouse in a study published on Tuesday. The analysts argued that the few FX pegs that have held staying power […]
The popular millennial trading platform released its earnings report on May 8, beating analyst estimates. According to its first-quarter results, Robinhood reported record revenues of $618 million, up 40% year-over-year. Additionally, revenue from cryptocurrencies surged 232% to $126 million. “Transaction-based revenues increased 59% year-over-year to $329 million, primarily driven by cryptocurrencies,” the firm stated. Robinhood’s […]
TL;DR Polkadot has recently improved its network performance, significantly boosting the speed and capacity for processing transactions. In addition to its technical advancements, the protocol is exploring a potential $8.8 million sponsorship deal with the American soccer club Inter Miami. What’s New Around Polkadot? The blockchain protocol made the headlines in the past few days […]
The Hong Kong police force is in search of four men who abducted a crypto investor on Tuesday at Tai Lau Leng Village off Po Shek Wu Road in Sheung Shui district. According to a report by the South China Morning Post, the suspects stopped the 55-year-old woman while she rode in a car with […]
Disgraced FTX founder Sam Bankman-Fried revealed that he hasn’t experienced abuse and doesn’t “feel unsafe.” The only time he feels bothered is during the night when they ask about the rice bags they plan to use for trade. This was his first comprehensive interview since being imprisoned. SBF’s Prison Survival: Beans, Rice, and a Currency […]
Marathon Digital, a Bitcoin mining company, fell short of revenue expectations set by Wall Street analysts in the first quarter 2024 report. The firm cited adverse weather conditions and equipment malfunctions as contributing factors to the lower-than-expected performance. Marathon Digital Faced Production Setbacks Despite a year-on-year revenue growth of 223% to $165.2 million, as disclosed […]
The cryptocurrency market has calmed down considerably in the past 24 hours, halting the bearish assault and finding some consolidation in the process. Bitcoin’s price is trading at around $61K on Sunday morning, while Ethereum is now firmly below the pivotal $3K level. Are the Bitcoin Bulls Regrouping? As CryptoPotato reported yesterday, Bitcoin’s price experienced a sudden […]
Founder and former CEO of Digitex Futures Exchange, Adam Todd, has pleaded guilty to willingly leading the firm to fail to establish an Anti-Money Laundering (AML) program. Notably, the former CEO’s plea was issued in a federal court in the Southern District of Florida on May 7. Former Digitex CEO Pleads Guilty The U.S. Attorney’s […]
Coinbase’s Layer 2 network – Base – has witnessed a resurgence of user activity. Franklin Templeton’s latest analysis revealed that Base has received significant traction from SocialFi applications such as Friend.Tech. Friend.Tech’s model, which financializes social interactions, has drawn attention, particularly with the launch of its version 2 platform and the airdrop of its FRIEND […]
Cathie Wood-led Ark Invest has yet again slashed its holdings in Coinbase (COIN). The company sold 70,616 shares of Coinbase, totaling $15.1 million, spread across three of its exchange-traded funds on May 7th. The move came despite the positive first-quarter earnings report from the exchange, which showed higher revenue than expected and a record high […]