Coinbase has announced impressive first-quarter results one week before the exchange’s direct listing on Nasdaq, estimating that trading volume is up 276% and quarterly revenue has hit $1.8 billion. The bountiful revenue, revealed in the company’s Q1 earnings call, dwarfs its $190-million revenue from the same time last year, with the company attributing a portion of this explosive growth to Bitcoin’s (BTC) bull market. The American exchange estimated net income between $730 million and $800 million and an EBIDTA of approximately $1.1 billion. The bull market has also seen monthly active users grow to more than 6 million users, up …

Greenidge Generation, a New-York based Bitcoin mining company that owns its own power plant, aims to go public through a merger with technical support provider Support.com. In an announcement today, Greenidge said it had signed an agreement with Support.com to merge in a stock-for-stock transaction. Though shareholders will have to approve the merger, the firm reports it would be one of the first publicly listed Bitcoin (BTC) mining companies to generate the power consumed by its crypto farms. Greenidge owns a power plant in Dresden, New York and a mining facility nearby. "This merger is an important next step for …

Prominent Bitcoin (BTC) and cryptocurrency exchange Coinbase could be headed for an IPO valuation of $100 billion, after shares reportedly sold for up to $375 each in a private auction. Shares in Coinbase Global Inc. reportedly traded for a price between $350 and $375 per unit on the Nasdaq private auction market last week, giving the company a pre-IPO valuation of between $90–$100 billion, according to a report by Bloomberg. Trading reportedly ended with the share price at $350. A Coinbase series E funding round in 2018 first saw the stock valued at a potential $8 billion. That valuation increased …

Shares of Long Bitcoin Corp (LBCC), a beverage company turned cryptocurrency mining company, have been officially delisted by the United States Securities and Exchange Commission, or SEC. The company was ordered to delist its stock after failing for years to produce any financial reports. Long Bitcoin Corp’s last earnings report was for the quarter ending Sept. 30, 2018, according to Bloomberg. Long Bitcoin Corp is registered in the state of Delaware, according to SEC filings. Originally known as Long Island Ice Tea, Long Bitcoin rebranded during the height of crypto euphoria in January 2018. That was shortly after Bitcoin (BTC) …

A global chip shortage is affecting various sectors of industry from gaming to automotive and cryptocurrency mining. Amid Bitcoin's (BTC) ongoing bull run, the crypto mining industry became massively profitable. Many miners started aggressively stacking mining hardware —by sometimes unconventional methods— which led to shortages in other sectors. The COVID-19 fueled surge in gaming consoles, computers and TVs has even had knock-on effects for car manufacturers, who are major consumers of silicon semiconductors. Chip shortages have even led General Motors to shut down three plants and slow production at others. Amid this shortage, Chinese internet giant Baidu is reportedly raising …

Bit Digital, a Bitcoin mining company traded on the Nasdaq stock exchange, is the subject of a class-action lawsuit that alleges the company fabricated the extent of its Bitcoin (BTC) mining operations. According to the lawsuit, which was filed in the Southern District of New York court on Wednesday by plaintiff Anthony Pauwels, Bit Digital misled investors and made materially false claims about the extent of its Bitcoin mining business, causing significant financial harm for investors. Specifically, the plaintiff references an investigative report by J Capital Research that claims Bit Digital simply lied about having Bitcoin mining farms in operation …

Shares of MicroStrategy (MSTR), a business intelligence firm with considerable exposure to Bitcoin (BTC), declined sharply on Monday as profit-taking ensued following a parabolic rally over the past month. The stock touched an intraday low of $464.51 in New York trading, representing a decline of almost 13%. It would later pare losses to trade around $500 pe share. At current values, the company has a total market capitalization of around $4.6 billion. Last week, the stock peaked just below $512, marking a new all-time high. The broader equity market was also under pressure on Monday, with the S&P 500 Index …

Following a $50 million capital raise and reverse merger, digital finance company Diginex's stock has listed on the Nasdaq exchange under the ticker EQOS. Diginex is "the first Nasdaq-listed company that covers the full virtual currency ecosystem," Diginex CEO Richard Byworth told Cointelegraph in an interview. "I think this is hugely important for the development of the industry. Prior to this, you've pretty much only had exposure to direct crypto assets via ETF-like structures," he said, mentioning products such as those offered by Grayscale. Diginex is the parent of a number of different crypto and blockchain-focused entities, including crypto exchange …

Regulated Brazilian fund manager Hashdex has inked a deal with Nasdaq to launch the world’s first crypto asset exchange-traded fund (ETF) on the Bermuda Stock Exchange (BSX). The stock exchange announced it had approved the ‘Hashdex Nasdaq Crypto Index’ on September 18, revealing that 3 million Class E shares will be issued for trade on the platform. Cointelegraph Brazil confirmed the Nasdaq partnership and ETF with Hashdex’s chief executive, Marcelo Sampaio According to local media outlet Infomoney, the fund should be live and trading on the BSX by the end of the year. The report notes that Hashdex chose to …

MicroStrategy’s board of directors elected to make Bitcoin (BTC) the company’s primary reserve asset. The United States Securities and Exchange Commission disclosure stated that this may lead to the future expansion of the company's cryptocurrency holdings beyond the original purchase of 21,454 BTC, equivalent to $250 million: “Bitcoin serving as the primary treasury reserve asset on an ongoing basis, subject to market conditions and anticipated needs of the business for Cash Assets, including future potential share repurchase activity. As a result of this new Policy, the Company’s holdings of bitcoin may increase beyond the $250 million investment that the Company …

Canaan, China’s major cryptocurrency mining company, will soon launch a $10 million share repurchase program. On Sept. 8, the Nasdaq-listed company officially announced that its board of directors has authorized a share repurchase program to repurchase up to $10 million worth of its American depositary shares, or ADSs. According to the announcement, Canaan will be repurchasing 15 Class A ordinary shares and/or Class A ordinary shares over the next 12 months starting Sept. 22. Under the share repurchase program, the mining giant is authorized to repurchase its ADSs “from time to time” through open market transactions at prevailing market prices, …

Digital asset markets were on a parabolic surge until investor confidence took a major hit to close out the week with a bearish tilt due to a perfect storm of negativity. Before reading the rundown, catch up on the most-read stories centered around the price of Bitcoin, the macroeconomic picture and the DeFi phenomenon gaining traction. Bitcoin price, stocks and gold plunge in tandem — What’s next? Don’t panic? ‘Smart money’ whales are waiting to buy Bitcoin at $8,800 Yearn.finance’s $140M yETH vault proves investors are ravenous for DeFi Bitcoin mirrors gains of past halvings, suggesting $41K price in 2020 …