Revenue Financial News

cryptocurrency. The Tysons Corner, Virginia-based company booked impairment losses from digital assets of $1.01 billion in the quarter, compared with $39.2 million a year ago.

ETFs) stealing investor capital, it's been a tough year for bitcoin miners. Marathon Digital and Riot Platforms, among the biggest U.S.-listed miners, have dropped about 10% and 33% respectively so far this year, even as bitcoin has climbed 60% year-to-date to $67,859, after hitting a record level in March.

capital through convertible bonds offering for the second time in less than 10 days to further increase its exposure to booming bitcoin. The software firm said after markets closed on Wednesday that it was offering $500 million in convertible notes due in 2031 to institutional investors. The company had announced a $600 million private offering in convertible notes on March 5.

transaction volumes and higher interest income earned on its stablecoin reserves, sending the crypto exchange's shares up 8% in extended trading. A rebound in crypto prices in the last few months, thanks to optimism around the U.S. Securities and Exchange's approval of the first spot bitcoin-exchange traded funds (ETFs), helped rekindle investor enthusiasm for crypto.

Scammers targeting institutions such as hospitals, schools and government offices for ransom pocketed $1.1 billion last year, compared with $567 million in 2022.

People close to BlackRock told Fox Business that savings from the layoffs will be used to expand into growth businesses such as technology investing and alternative investment products.

Coinbase reported a narrower net loss of $2 million in the third quarter and a total transaction volume of $76 billion, despite a year-on-year increase in revenue, even in the face of lower trading volumes.

Coinbase on Tuesday, the second lawsuit in two days against a major crypto exchange, in a dramatic escalation of a crackdown on the industry and one that could dramatically transform a market that has largely operated outside regulation. The U.S. Securities and Exchange Commission (SEC) on Monday took aim at Binance, the world's largest cryptocurrency exchange. The SEC accuses Binance and its CEO Changpeng Zhao of operating a «web of deception». If successful, the lawsuits could transform the crypto market by successfully asserting the SEC's jurisdiction over the industry which for years has argued that tokens do not constitute securities and should not be regulated by the SEC. «The two cases are different, but overlap and point in the same direction: the SEC's increasingly aggressive campaign to bring cryptocurrencies under the jurisdiction of the federal securities laws,» said Kevin O'Brien, a partner at Ford O'Brien Landy and a former federal prosecutor, adding, however, that the SEC has not previously taken on such major crypto players.

exchange Coinbase Global Inc posted a smaller-than-feared loss in the first quarter, benefiting from cost cuts and diversification of revenue sources, sending its shares up 7% in extended trading on Thursday. The company has benefited from its deal for One River Digital Asset Management to ramp up product offerings in subscription and services revenue, while it also launched wallet-as-a-service and other products to scale blockchain. «We're also seeing the benefits of increased cost efficiencies, and we've taken deep lessons from growing too quickly and believe that we are going to be prudent in our spend going forward,» Chief Financial Officer Alesia Haas said.Coinbase posted a loss of 34 cents a share, while analysts estimated a loss of $1.35 as investors tiptoe back to the speculative asset class to hedge against elevated market risks after a brutal selloff last year.

Bitdeer have announced plans to raise $500 million to set up crypto mining operations that use the Himalayan kingdom's plentiful hydropower. Huge amounts of electricity are needed to power the vast computer farms that mine for cryptocurrency, leading to heavy criticism of their impact on the climate and a search for greener mining options. Soaring energy costs have also squeezed crypto firms, leading to the birth of several initiatives to find cheaper and more sustainable ways to power their operations in a notoriously risky and volatile industry. The initiative announced on Wednesday by the Bhutan government's investment arm Druk and Nasdaq-listed crypto-mining firm Bitdeer includes the construction of data centres and investment in renewable energy such as hydropower and hydrogen.