As was widely expected, the U.S. Federal Reserve held its benchmark fed funds rate range steady on Wednesday at 4.25%-4.50%, extending its pause on monetary easing for the third consecutive meeting. “Uncertainty about the economic outlook has increased further,” said the Fed in its accompanying statement. “The Committee is attentive to the risks to both […]
Coinbase (COIN) is heading into its first-quarter earnings report on shaky ground, with four Wall Street analysts expecting a miss as the retail trading lull is likely to pressure the crypto exchange’s most profitable business lines. The company is scheduled to report first-quarter results on Thursday post-market. The analysts are projecting earnings per share (EPS) […]
The New York State Attorney General asked the U.S. Securities and Exchange Commission to openly declare Ethereum’s ether (ETH) was a security, not a commodity, during the state’s prosecution of KuCoin in 2023, according to a document revealed by Coinbase Inc. in a trove of agency communications released on Wednesday. Shamiso Maswoswe, chief of the […]
Jack Mallers’ bitcoin (BTC) payments app Strike is set to move into the BTC lending business. Strike plans to offer users a means of borrowing fiat while continuing to HODL bitcoin, Mallers wrote in a post on X on Wednesday. “You shouldn’t have to sell the best-performing asset in human history to access cash. Now […]
The U.S. Commodity Futures Trading Commission (CFTC) has dropped its appeal in its case against Kalshi, a New York-based prediction market, according to a Monday court filing, finally clearing the way for the platform to offer political event contracts. Under the conditions of the motion for voluntary dismissal, which is still subject to court approval, […]
New Hampshire has become the first state to allow the investment of its public funds into crypto assets with its governor signing the new law on Tuesday. The state beat a number of others to the punch this year as what had started as a surge in state lawmaker momentum had run into roadblocks over […]
Eight decades of dollar history can be read as a three-act play. Act I was the Eurodollar—off-shore bank deposits that sprang up in 1950s London so the Soviet bloc, European exporters, and eventually every multinational could hold dollars outside U.S. regulation, spawning a multi-trillion-dollar shadow banking base. Act II was the Petrodollar. After 1974, OPEC’s […]
Democrats in the U.S. House of Representatives derailed what was supposed to be a joint hearing on crypto policy efforts on Tuesday, insisting that President Donald Trump’s personal crypto dealings were too urgent to allow other discussion on instituting industry regulations. “I object to this joint hearing because of the corruption of the president of […]
Investment bank Compass Point downgraded MARA Holdings (MARA) to a sell rating from neutral on Tuesday, citing unsustainable cash burn. “There’s better ways to get BTC beta,” analysts wrote in the research note, pointing to Marathon’s hash price, now below 5.5 cents, as a signal of declining profitability. At current operational levels, Compass Point estimates […]
Reflections on Those MSTR Bitcoin ‘Earnings’
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MSTR earnings came out May 1. My morning media stops last Thursday (here and here) asked for a preview. We don’t talk about stocks, so I planned to zoom out and hit themes. While preparing, I had to suppress the eye-roll reflexes that MSTR triggers. MSTR, of course, is the ticker symbol for MicroStrategy, or […]
Crypto’s big show in the U.S. Congress has been unveiled in the form of a discussion draft of legislation that would establish for the first time a comprehensive domestic regime for regulating digital assets. The House Financial Services Committee and House Agriculture Committee — both sharing responsibility for the jurisdiction-hoping assets — released a working […]
Corporate treasury buying of bitcoin (BTC) could reach $330 billion by the end of 2029, broker Bernstein said in a research report Monday. Strategy (MSTR) is likely to be the largest buyer, with an additional $124 billion of the world’s largest crypto, in the broker’s bull case. The company led by Michael Saylor announced a […]