GENIUS Stablecoin Bill Rejected by Senate
According to NBC News, the US Senate rejected the GENIUS Act, which aimed to establish a regulatory framework for stablecoins, by a vote of 48 to 49. Democrats argued that the Trump family’s investments in the crypto sector posed a conflict of interest and potential corruption risk. The bill faced opposition because it did not include a ban on public officials holding cryptocurrency assets. Republicans plan to make new efforts in the coming days to bring the bill up for a vote again.
Coinbase’s Q1 2025 Revenue Falls Short of Expectations,
Coinbase reported revenue of $2.034 billion for the first quarter, falling short of expectations of $2.12 billion. Earnings per share also fell significantly short of estimates at $0.24. Transaction revenue dropped by 10% to $1.26 billion. The company had previously announced plans to acquire the Deribit exchange for $2.9 billion to expand its global derivatives trading business.
CleanSpark Reports 62.5% Increase in Q2 Revenue
CleanSpark reported revenue of $181.7 million in the second quarter, marking a 62.5% year-over-year increase. However, the company also reported a net loss of $138.8 million for the same period. The company’s Bitcoin holdings approached $980 million, with total assets recorded at $2.7 billion.
MARA Increases Bitcoin Holdings to 47,531
MARA Holdings generated $214 million in revenue in the first quarter of 2025. The company’s Bitcoin holdings increased by 174% to 47,531, reaching a value of approximately $3.9 billion. However, due to the decline in Bitcoin prices, the company reported a net loss of $533 million.
Hut 8’s Revenue Drops 58%, Reports $134 Million Loss
Hut 8, which formed American Bitcoin Corp. in partnership with Trump’s son, generated $21.8 million in revenue in the first quarter. However, this revenue represents a 58% year-over-year decline, and the company reported a net loss of $134.3 million. Despite this, the company announced that it will continue to invest in artificial intelligence-based data centers.
Ripple and SEC Reach Settlement Agreement to End Lawsuit for $50 Million
The SEC-Ripple lawsuit, which has been ongoing since 2020, has been settled. According to court documents, Ripple will pay $50 million to the SEC and $75 million will be refunded. The parties agreed not to appeal and not to seek the reversal of previous decisions.
Sonic Labs Secures $10 Million Investment Led by Galaxy
Sonic Labs has secured $10 million in funding in a strategic investment round led by Galaxy. The company aims to expand in the US market and develop its DeFi infrastructure with this investment. CEO Michael Kong stated that Galaxy’s experience will add significant value.
Metaplanet Issues $21.25 Million in Interest-Free Bonds for Bitcoin Purchase
Metaplanet has decided to issue a total of $21.25 million in interest-free bonds to be allocated to EVO FUND for the purchase of Bitcoin. The bonds will mature on November 7, 2025.
Microsoft Bans Employees from Using DeepSeek
According to TechCrunch, Microsoft President Brad Smith announced that the company has banned its employees from using the DeepSeek app due to data security and promotional content risks. DeepSeek is not available in Microsoft’s app store.
Paris Saint-Germain Advances to the Final, $PSG Token Drops 16%
Despite PSG advancing to the Champions League final, the fan token $PSG dropped over 16% on Binance. The decline is attributed to the “buy the rumor, sell the news” strategy and volatility caused by low liquidity and speculation.
Bitcoin Spot ETFs Recorded $117 Million in Net Inflows on May 8
According to SoSoValue data, Bitcoin spot ETFs saw a total of $117 million in net inflows on May 8. BlackRock’s IBIT ETF recorded $69 million in net inflows, while Fidelity’s FBTC ETF saw $35 million in net inflows. The total net asset value reached $118.66 billion.
Ethereum Spot ETFs Saw a Net Outflow of $16.1 Million on May 8
Ethereum ETFs recorded outflows for the third consecutive day. A net outflow of $16.1 million occurred on May 8. The largest outflow came from Fidelity’s FETH ETF, totaling 19.3 million dollars. Grayscale Mini Trust ETH ETF, on the other hand, saw 3.18 million dollars in inflows, marking the best performance of the day. The total asset value of ETH ETFs was reported at 7.219 billion dollars.
by Darkex Research – 1 min read
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The Daily News published on Darkex are for informational purposes only and do not constitute financial or investment advice. All investment decisions and associated risks are solely the responsibility of the investor.
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