Bitcoin-loving payments firm Block Inc. today reported gross profit of $1.87 billion in its second quarter 2023 results—a 27% year-over-year increase. And $2.4 billion of its total $5.5 billion Q2 net revenue came from Bitcoin, the company said. The company—formerly known as Square—saw a 34% increase in Bitcoin revenue compared to the same period in 2022. Bitcoin revenue refers to…
The company beat estimates while non-trading revenue beat trading revenue. Source: https://cointelegraph.com/public/index.php/news/coinbase-q2-profits-blackrock-custody-institution
Optimism (OP) is a Layer 2 scaling solution, which operates as a separate blockchain built on top of Ethereum. Despite having a smaller total value locked (TVL) than its rivals, Optimism may still have the potential to thrive in the increasingly competitive DeFi landscape. Being one of the pioneers in the DeF space, Optimism initially gained an initial but had…
New York-based crypto exchange Coinbase reported revenue in the amount of $708 million in the second quarter of 2023, despite the regulatory issues it’s faced in recent months, boosted by a custody deal with Blackrock and institutional focus. The exchange said Q2 net revenue reached $663 million, down 10% versus the same period last year, yet beating early estimates on…
Polygon’s zero-knowledge scaling arm, Polygon Zero, is accusing developers of Matter Labs of copy-pasting “a substantial amount of source code” from its Plonky2 library, according to an announcement on Aug. 3. The alleged plagiarized code was found on zkSync, a competitor layer-2 scaling solution for Ethereum powered by zero-knowledge technology. Matter Labs is the developer of the zkSync ecosystem. According to…
This story comes from GG. Your Web3 Gaming Power-Up Discover GG Ethereum metaverse game The Sandbox has confirmed a release date for a series of officially licensed Elvis Presley NFT avatars designed to celebrate the late musician’s long-standing legacy. First announced last year via the Elvis Presley Legacy Council, which is introducing the music icon into various online and blockchain-based…
Shara Senderoff and Aaron McDonald, co-founders of AI and metaverse company Futurverse, have launched a new $50 million venture fund and studio. According to the Aug. 3 announcement, the fund is dubbed “Born Ready” and will invest in emerging technology ventures possessing collaboration potential with either Futurverse or metaverse blockchain The Root Network. The co-founders say Born Ready has already…
On Aug. 1 a significant event occurred within the financial world: Fitch, a reputable credit rating agency, demoted the credit rating of the U.S. government from the pristine AAA to AA+. This downgrade signaled diminished confidence in the U.S. government’s ability to handle its fiscal responsibilities effectively. The downgrade nudged investors into a cautious stance, leading many to move their…
OpenAI founder Sam Altman launched Worldcoin in July, a cryptocurrency token offered to people willing to share their biometric data by scanning their eyeballs with an Orb, seeking to link real-world identity with decentralized blockchain identity. Many aspects of the project embody the dystopian nightmare that the cypherpunks created Bitcoin (BTC) and other cryptocurrencies in order to avoid. The tokenomics…
Coinbase’s Base network has released a user interface (UI) for its official bridge, allowing end-users to onboard for the first time without relying on developer tools, according to an Aug. 3 announcement. The team has set Aug. 9 as Base’s “official” release date. They will award over 100 Ether (ETH), worth approximately $184,000, in grants to developers and content creators…
