Author: NBTC

After a strong 2024—where it posted $931 million in total commissions and $192 million in net profit—IPO-bound eToro now forecasts a lower Q1 net income between $56 million and $60 million compared to the same quarter last year, when it earned $64 million. Spending on Growth Hits Income The Israeli trading platform explained that the expected drop in net income was due to higher investment in marketing and growth. This was partly offset by a fall in share-based payment expenses. Adjusted EBITDA is also expected to be lower. eToro reported $87 million for the first three months of 2024, but…

Pudgy Penguins’ token, PENGU, has jumped to its highest level since February, rallying by more than 25% amidst a consistent rise in its NFT floor price over the past month. On May 8, the Pudgy Penguins (PENGU) token is leading the charge among meme coins as it is catapulted to its highest level since its January-February descent. Within the past week, it has become the highest gainer among Solana (SOL)-based meme coins, rising by over 28.6%. In the past month, the token has managed to skyrocket by more than 242%. On the meme coin leaderboard, it is currently ranked in…

Ledger users can now sell their crypto for fiat without leaving the company’s secure hardware wallet environment, thanks to a new integration with Web3 payments infrastructure provider Transak. The partnership expands beyond Transak’s existing on-ramp support to now include off-ramping for Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and other assets directly within the Ledger Live app on desktop and mobile, crypto.news can exclusively report. The integration allows users in more than 100 countries to convert crypto holdings into their local fiat currency through bank transfers and other supported payment methods. This marks a significant upgrade to Ledger Live’s ‘Sell’…

CleanSpark, American Bitcoin mining company, announced its financial results for the second quarter of fiscal year 2025, reporting $181.7 million in revenue for the three months ended March 31. This marks a 62.5% increase from $111.8 million in the same quarter last year. Despite the revenue growth, the company reported a net loss of $138.8 million, or $0.49 per basic share, compared to net income of $126.7 million, or $0.59 per basic share, during the prior-year period. Adjusted EBITDA also declined to negative $57.8 million from $181.8 million a year ago. As of March 31, 2025, CleanSpark held $97.0 million…

David Bailey, CEO of BTC Inc., the owner of Bitcoin Magazine, is planning to launch a publicly traded bitcoin (BTC) investing company, The Information reported, citing people familiar with the matter. Bailey, who advised Donald Trump on crypto policy during his 2024 presidential campaign, is reportedly seeking $200 million through a private share sale and an additional $100 million in convertible debt to fund a small publicly traded firm to buy bitcoin. The company—whose name is not known yet—will merge with BTC Inc. and be named “Nakamoto” after bitcoin creator Satoshi Nakamoto, according to the people. The deal could be…

Ethereum cofounder Vitalik Buterin has outlined a key growth trend in the blockchain’s layer-2 (L2) protocols. The trend involves the frantic push to transition from Stage 0 to a higher-acclaimed class. This disclosure comes ahead of the Ethereum Pectra upgrade scheduled for May 7. Key stages in Ethereum L2 growth In a recent blog post, Buterin detailed the dynamics of the security council and outlined three key stages of Ethereum roll-up security: stage 0, stage 1 and stage 2. According to Buterin, the security council has full control at stage 0. The proof system is “advisory only” at this stage…

Hidden Road, a prime broker that focuses on crypto and traditional assets, which recently agreed to be acquired by Ripple, is opening an office in Abu Dhabi, according to two people with knowledge of the matter. The office will be led by James Stickland, a partner at the firm, said the people, who spoke on condition of anonymity because the matter is private. Hidden Road confirmed the plans. The company has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM, Hidden Road said in a press release shared with CoinDesk on Thursday. A member of the…

The leading Senate Democrat on a panel tasked with investigating corruption and mismanagement is scrutinizing U.S. President Donald Trump’s recent crypto activities and whether they’re part of a “pay-to-play scheme to provide access to the Presidency to the highest bidder.” Richard Blumenthal, the ranking Democrat on the Senate Permanent Subcommittee on Investigations — a panel housed within the Committee on Homeland Security and Government Affairs — wrote letters to Bill Zanker of Fight Fight Fight LLC and Zach Witkoff, a co-founder of World Liberty Financial on Tuesday, asking them a series of questions about the ownership and investment structure for…

Ethereum’s second-largest staking protocol, SSV Network, has just rolled out the SSV2.0 testnet—and it could be one of the most important shifts in validator infrastructure since staking went live. —SSV2.0 introduces a new concept: Based Applications (bApps). These bApps allow developers to source security directly from Ethereum’s L1 validator set, slashing costs and making it possible to build secure, scalable applications without relying on the capital-heavy constraints of restaking. The result? A more inclusive, cost-efficient path to Ethereum innovation that could bring new utility, rewards, and momentum to the network. “Based applications unlock a new era of decentralised innovation, where…

The Federal Reserve may not cut interest rates any time soon, but when it does, the easing could be aggressive, according to Dutch investment bank ING. On Wednesday, the Fed kept the benchmark rate on hold between 4.25% and 4.5%, with Chairman Jerome Powell raising the specter of stagflation during the press conference following the announcement. Both crypto and traditional markets looked to Powell for cues on a potential rate cut in June. ING points to his comments that “uncertainty about the economic outlook has increased” and the “risks of higher unemployment and higher inflation have risen” as evidence the…