Core Scientific reported a $210.7 million net income for the first quarter on May 8. The change represents an increase of $211.1 million from the first quarter of 2023, when the company reported a net loss of $0.4 million. The company also reported $179.3 million in first-quarter revenue, including $150 million from crypto mining and […] The post Core Scientific reports $210.7 million in Q1 net income, 2,825 BTC production appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Robinhood reported $36 billion in crypto notional trading volume during the first quarter of 2024, a 224% increase year over year. The firm also reported record net revenues of $618 million, up 40% year over year. The total revenues included $329 million derived from transaction revenues, which included revenue generated from its crypto business — […] The post Robinhood crypto trading volume up 224% YoY to $36 billion in Q1 appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

The Nigerian government has refuted bribery allegations made by crypto exchange Binance, which were described as baseless and an attempt to distract from the company’s legal challenges in the country, according to a press statement released on May 8. Binance CEO Richard Teng recently alleged that Nigerian officials demanded $150 million in crypto to settle […] The post Nigeria claims Binance’s bribery allegations are ‘blackmail’ appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

The Biden administration said on May 8 that it would veto H.J. Res. 109, which intends to overturn the SEC’s Staff Accounting Bulletin 121 (SAB 121). The administration said it “strongly opposes” the resolution as the change will interfere with the SEC’s efforts to protect crypto market investors and safeguard the financial system. The administration […] The post Biden administration to veto overturning of controversial SEC crypto rules appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

A recent Standard Chartered report forecasts that a second term for Donald Trump could significantly boost Bitcoin and other digital assets as viable alternative investments. The report investigates how US fiscal policies under a potential Trump administration could steer investors toward Bitcoin and other cryptocurrencies. Meanwhile, the lender has also revised its outlook on Bitcoin’s […] The post Trump’s potential return could catalyze major uptick in alt investments like Bitcoin – StanChart appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

US lawmakers have proposed a new bill that aims to temporarily prevent financial institutions from engaging in transactions involving funds that have been through crypto mixers. Congressman Sean Casten (IL-06) introduced the bill on May 7 and received support from Representatives Bill Foster, Brad Sherman, and Emmanuel Cleaver. Blockchain Integrity Act The proposed legislation, dubbed […] The post US lawmakers introduce bill to suspend crypto mixer transactions appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Polkadot has implemented asynchronous backing, a pivotal upgrade enhancing the network’s flexibility in blockspace allocation and overall performance. The upgrade is one of the three technological advancements, alongside Elastic Scaling and Agile Coretime, driving the blockchain towards its Polkadot 2.0 vision. Asynchronous Backing According to Polkadot, asynchronous backing provides an optimized approach for validating parachain […] The post Polkadot rolls out asynchronous backing to boost network efficiency and transaction speed appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Quick Take Over the past 30 days, entities across all cohorts have accumulated just over 10,000 BTC. This rate of accumulation has not kept up with the approximately 19,000 BTC issued during that same timeframe. Before the halving, Bitcoin’s monthly issuance stood at 27,000 BTC but reduced to 13,500 BTC after the halving. However, looking […] The post Bitcoin accumulation fails to keep pace with issuance appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Quick Take Susquehanna, a prominent trading firm, has disclosed a $1.3 billion investment in spot Bitcoin ETFs. The firm’s portfolio is primarily dominated by the Grayscale Bitcoin Trust (GBTC), which accounts for a substantial $1.1 billion of the total investment. The company’s appetite for Bitcoin exposure extends beyond just GBTC, as the firm has invested […] The post Susquehanna has more Bitcoin exposure than just ETFs appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Japanese exchange Coincheck is set to join Coinbase as one of the two publicly listed exchanges in the United States, according to a May 8 statement. The crypto trading platform expects to complete its listing on the Nasdaq via a partnership with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV (THCP) by the […] The post Japanese exchange Coincheck set for Nasdaq listing through SPAC merger appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More