Category: News
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Robinhood Q1 crypto trading surges 224% — SEC action ‘disappointing’
Robinhood’s crypto services contributed to nearly 40% of the firm’s transaction-based revenue and helped the firm produce a net profit for the second straight quarter. Robinhood CEO Vladimir Tenev described the recent Securities and Exchange Commission Wells notice as a “disappointing development” during a Q1 earnings call, as the firm posted a 224% increase in…
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3 trends to think about before crypto's bull run resumes
The market is down, but the bull run isn’t over. But when it resumes running upward, some things are going to run a little more than others. Cryptocurrency’s next bull run had already began. One of the most significant differences compared to past cycles lies in the type of new investors entering the market. Bitcoin…
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House votes to nullify SEC’s anti-crypto banking guidance SAB 121
The House of Representatives has voted to overturn controversial SEC guidance that has virtually blocked banks from custodying crypto assets. The United States House of Representatives has voted to pass a bill that overturns controversial Securities and Exchange Commission guidance preventing banks from owning crypto. President Joe Biden, however, previously warned earlier in the day that…
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Robinhood crypto trading volume up 224% YoY to $36 billion in Q1
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 —…
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Core Scientific sees revenue surge in 1Q24 after emerging from bankruptcy
Bitcoin miner Core Scientific has posted $150 million in revenue from digital asset mining in the first quarter of 2024, boosting its gross margin to 46% from 26% in the previous year. Bitcoin miner firm Core Scientific posted improved financial results for the first quarter since emerging from bankruptcy. The company reported a total revenue of…
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Kgothatso Ngako: How I Brought the Machankura Bitcoin App to Africa
Ngako is speaker at this year’s Consensus festival, in Austin, Texas, May 29-31.
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Nigeria claims Binance’s bribery allegations are ‘blackmail’
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…
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Crypto Markets Under Pressure as $2B Worth of Altcoin Token Unlocks and $11B Bitcoin Distribution Loom
Investors should brace for waves of fear, uncertainty and doubt – or FUD – over the next few months, a K33 Research analyst said.
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Rwandan central bank proceeds with ambitious retail CBDC project
The African country is eyeing a tokenized retail CBDC with offline transfer capabilities as it heads toward a cashless economy. The National Bank of Rwanda (BNR) has opened up its just completed feasibility study on a retail central bank digital currency (CBDC) to public comment. The BNR is considering a national digital currency that incorporates…
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The FCC’s Net Neutrality Ruling Is Good News for Web3 Startups
The principle of an open internet underpinned the growth of the early Web and is just as necessary now. If only the SEC could back innovation in a similar way, says Sarah Aberg, General Counsel at Nova Labs, the company behind Helium Mobile.