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Bakkt, however, toned down its guidance for the year. The digital asset platform now expects net revenue to grow to $57 million to $62 million during 2022, compared with its earlier guidance of $60 million to $80 million. It also expects to use $135 million to $140 million of cash
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However, the firm's mining profit was more than halved to C$14.9 million compared to Q1, due to higher power costs and the decline in the price of bitcoin, the company said. The miner's cost of mining each bitcoin grew by 44% to C$25,900, around what it was in the second
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Crypto exchange giant Coinbase has cited a "fast and furious" downturn of the crypto markets as the reasons behind a staggering $1.1 billion net loss in the second quarter of 2022, which also saw trading volume and transaction revenue tumbling. It's the second consecutive quarter of loss for the crypto company
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The miner expects to deploy 6.9 EH/s by early 2023. Original Source
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SoftBank, a Japanese conglomerate that has invested in crypto companies, reported a record quarterly loss of $23.4 billion. The company attributed the loss to the global tech stock sell-off and rapid fall of the yen, according to an earnings presentation. Source
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The massive jump in losses was mainly due to the crypto market downturn and on investments in their trading business. Original Source
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Online brokerage Robinhood will lay off nearly a quarter of its employees, citing a continued deterioration of the macro environment and a broad crypto market crash. The bad news came in a blog post on August 2 from cofounder and CEO Vlad Tenev, on the same day it released tepid
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On Tuesday, European cryptocurrency investment firm CoinShares posted its interim Q2 2022 results. Compared to the prior year's quarter, the firm's revenue declined from 19.6 million pounds ($23.89 million) to 14.2 million pounds ($17.31 million). At the same time, its net income fell from 26.6 million pounds ($32.42 million) in
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Summary: Twitter has posted a $270 million quarterly loss in its first earnings report since Elon Musk expressed interest in buying the company. Twitter cites a weak ad market and Elon Musk’s one-eighty-degree turn on the $44 billion acquisition deal as the main reasons for the negative earnings. Social media behemoth Twitter posted
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At a time when the decentralized finance (DeFi) protocols have seen a significant outflow of funds from the market, maintaining liquidity has become even more challenging. Liquidity plays a central role in the DeFi ecosystem, and many protocols over time have come up with various new solutions to keep liquidity
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