Analysis
Crypto
VanEck CEO foresees Bitcoin hitting $350k as regulators begin quantitative easing
Van Eck added that under a "Super Bowl" scenario where central banks adopt Bitcoin as a reserve asset, the flagship crypto could skyrocket to $2.9 million
Earnings
MicroStrategy stock surges over 4% despite Q2 net loss as Bitcoin holdings hit 226,500
MicroStrategy's Bitcoin stash totals 226,500 BTC, purchased for $8.3 billion at an average cost of $36,821 per Bitcoin as of July 31.
Earnings
Coinbase’s $1.45 billion Q2 revenue exceeds estimates despite decline in transaction revenue
The exchange's net income for the period was $36 million, compared to a net loss of $97 million in 2023.
Crypto
Russian central bank governor says CBDCs will be part of everyday life by 2031
Nabiullina said the digital rouble's advantages, such as free transfers for individuals and lower transaction fees for businesses, will drive its adoption.
Legal
Do Kwon set for extradition to South Korea after appeals court rejects US request
The Appellate Court upheld the Higher Court's June decision to prioritize South Korea's extradition request over that of the US.
Crypto
Galaxy Digital posts $177 Million net loss in Q2 amid market turbulence
Galaxy faced significant challenges with net losses on digital assets and investments, marking a sharp contrast to its previous financial performance.
Analysis
Bitwise CIO says market is ‘not bullish enough’ amid rising political endorsements
The conference, which took place in Nashville, showcased unprecedented political endorsements for Bitcoin.
Mining
Riot Platforms posts $84.4 million loss in Q2 amid 52% decline in Bitcoin production
Despite the financial setback, the company reported $70.0 million in revenue for the quarter, down slightly from $76.7 million in the prior year.
Crypto
Lummis unveils the BITCOIN Act to establish strategic BTC reserve for the US
The BITCOIN Act seeks to enhance financial resilience and promote global financial innovation by diversifying national assets to include Bitcoin.
Macro
Bitcoin holds steady as Fed chair Powell hints at rate cuts in September, says no plans for CBDC
Recent data indicates a decline in inflation closer to the Fed's 2% target, while unemployment has risen slightly above 4%.
Stablecoins
Tether’s $5.2 billion H1 profit sets new high as US treasury holdings surpass Germany
The firm reported a net operating profit of $1.3 billion in the second quarter, marking its highest quarterly profit to date.
Adoption
California DMV digitizes 47 million vehicle titles on Avalanche
The new system allows Californians to manage and transfer their pink slip vehicle titles digitally, reducing the need for trips to the DMV and the post office.