Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

SEC crypto ETFs ruling brings structural fix, not retail shakeup: Analysts

10/08/2025

Lido Welcomes SEC Decision Declaring stETH Non-Security

10/08/2025

Strategy Takes New Step Worth $4.2 Billion in Bitcoin

10/08/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    ETH Going to $16K in This Cycle? Analyst Explains Why This Could happen

    09/08/2025

    Limited pressure from unrealized profits spark talk of sustained ETH rally

    09/08/2025

    ETH Eyes Break Above $4K, But a Few Hurdles Remain

    09/08/2025

    ETH ticks up as whales buy, exchange reserves hit 9-year low

    09/08/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    Nyan Cat Creator Calls Meme Coins ‘Wild West’, Claims $700K in Fees—But Denies Endorsement

    09/08/2025

    DeFi soars with tokenized stocks, but user activity shifts to NFTs: Report

    09/08/2025

    NFT market rebounds in July, surpassing DeFi in user activity

    08/08/2025

    La Poste launches a new collection of NFT stamps

    07/08/2025

    SEC crypto ETFs ruling brings structural fix, not retail shakeup: Analysts

    10/08/2025

    Lido Welcomes SEC Decision Declaring stETH Non-Security

    10/08/2025

    Strategy Takes New Step Worth $4.2 Billion in Bitcoin

    10/08/2025

    Most crypto exchanges in Poland are likely to shut down due to MiCA

    10/08/2025
  • Blockchain

    Stability World AI Partners with SentrAI to Transform the Future of Tokenized AI Personas

    08/08/2025

    Base blames faulty sequencer for 33-minute outage, fixes made

    08/08/2025

    Switchboard launches Surge, Solana’s fastest oracle yet

    08/08/2025

    Walrus Integrates Pipe Network to Cut Latency and Enhance Bandwidth Across Chains

    08/08/2025

    Marex Becomes First Clearing Firm to Adopt JPMorgan’s Kinexys With Brevan Howard Digital

    08/08/2025
  • DeFi

    Aave’s Net Deposits Exceed $60B, up 55% in July

    09/08/2025

    ArtGis Finance and ATT Global Join Forces to Advance DeFi with Real-World Integration

    09/08/2025

    Pharos Network Integrates Morpho Lending Infrastructure for RWA Market

    09/08/2025

    Ethena USDe Tops $5.7B, Ranks Third in Synthetic Dollars

    09/08/2025

    DeFi lending starts with stablecoins, and the GENIUS Act makes them stronger

    09/08/2025
  • Metaverse

    The Sandbox Game Maker: Unleashing Revolutionary Metaverse Experiences

    07/08/2025

    Where Has the Metaverse Gone? Examining a Failed (and Costly) Trend

    01/08/2025

    From Metaverse to Machine Learning, Inside Meta’s $72 Billion AI Gamble

    31/07/2025

    AntVerse Integrates Terminus to Transform AI-Powered Metaverse with Web3 Payments

    25/07/2025

    The Sandbox Launches Largest LAND Auction Using GBM Protocol

    21/07/2025
  • Regulation

    SEC crypto ETFs ruling brings structural fix, not retail shakeup: Analysts

    10/08/2025

    Strategy Takes New Step Worth $4.2 Billion in Bitcoin

    10/08/2025

    JPMorgan Boss Jamie Dimon Praises Stablecoins, Remains Bitcoin Skeptic

    09/08/2025

    Coinbase Rival Kraken Looking To Go Public at $15,000,000,000 Valuation: Report

    09/08/2025

    Strategy CEO calls it ‘most misunderstood’ stock amid record profit

    09/08/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Here’s How Much XRP Binance Holds in Its Latest Proof-of-Reserves Report

    09/08/2025

    Delhi High Court Orders WazirX Operator to Disclose Binance Agreement, Restructuring Plan

    09/08/2025

    Arbitrage Trading – A Beginner’s Guide

    09/08/2025

    Upbit and Bithumb Soar While Coinone Sells Assets

    09/08/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    CodexField and Salvo Unite to Tokenize Game Code

    07/08/2025

    Animoca Brands Partnership Unveils Revolutionary Web3 Gaming Future

    06/08/2025

    VitaminAi and WildGo Partner to Unveil Web3 Pinball Game

    06/08/2025

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    05/08/2025

    Coinbase’s Convertible, Core Combo Fight and Block’s Bitcoin Play

    09/08/2025

    Canaan Exits Kazakhstan and South Texas Sites Amid Bitcoin Mining Fleet Reshuffle

    09/08/2025

    Bitcoin’s Hashrate Roars to 976 EH/S — Just a Hair From 1 ZH/s Glory

    09/08/2025

    Q2 Results Reveal Strategic Shifts

    09/08/2025

    Lido Welcomes SEC Decision Declaring stETH Non-Security

    10/08/2025

    Most crypto exchanges in Poland are likely to shut down due to MiCA

    10/08/2025

    HashFlare founders want no more jail time as US asks for 10 years

    09/08/2025

    Crypto Ban No Longer Feasible for SEC, Bloomberg’s Top Columnist Says

    09/08/2025

    SEC crypto ETFs ruling brings structural fix, not retail shakeup: Analysts

    10/08/2025

    Lido Welcomes SEC Decision Declaring stETH Non-Security

    10/08/2025

    Strategy Takes New Step Worth $4.2 Billion in Bitcoin

    10/08/2025

    Most crypto exchanges in Poland are likely to shut down due to MiCA

    10/08/2025
  • MarketCap
NBTC News
Home»Mining»Coinbase’s Convertible, Core Combo Fight and Block’s Bitcoin Play
Mining

Coinbase’s Convertible, Core Combo Fight and Block’s Bitcoin Play

NBTCBy NBTC09/08/2025No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies.

Coinbase Convertible Raise

Crypto exchange Coinbase is raising a little spending money—just $2 billion—in convertible notes.

Sure, we hear this kind of thing a lot when it’s Bitcoin and Ethereum treasuries. But the San Francisco-based company said this raise will be used for “general corporate purposes” and “acquisitions of other companies, products, or technologies.”

The announcement landed right after some analysts (not all), decided they didn’t like the look of that 25% revenue drop in Q2.

Compass Point moved COIN from the Neutral to Sell column, saying that the revenue miss was confirmation that the company’s retail trading business is “getting disrupted” by decentralized exchanges and ETFs.

That could help explain why Coinbase just rolled out decentralized exchange trading in its app for its U.S. users.

More worrying, though, was the fact that subscriptions and services didn’t have more to contribute, the analysts said. That’s the line item that covers the premium Coinbase One memberships, stablecoin revenue, staking, and custody services.

With the presidential ink dry on the stablecoin-regulating GENIUS Act, USDC issuer Circle a few months into its tenure as a publicly traded company (remember, they have a revenue sharing deal), and the proliferation of digital asset treasuries—analysts were expecting that segment to overperform.

Core Combo Fight

One of Bitcoin miner Core Scientific’s top investors wants to cut the music on the Core fusion dance.

Two Seas Capital, Core Scientific’s largest active shareholder with a 6.3% stake, intends to vote against a $9 billion all-stock sale to CoreWeave, saying in a press release Thursday that the offer represents an “inadequate valuation.”

The firm said it has established such a large stake in Core Scientific because it believes it’s a strong contender to build “critical, high-performance computing infrastructure at scale”—the infrastructure very much needed to power the artificial intelligence boom.

Two Seas, which is also an investor in CoreWeave, said the structure of the deal shortchanges CORZ investors and leaves them absorbing volatility from CRWV.

“In our view, the transaction decidedly and unfairly favors CoreWeave at the expense of Core Scientific shareholders,” the firm added, chiding the board for not entertaining offers from other suitors.

The vote hasn’t yet been scheduled, but it’s expected to take place before the end of the year.

Meanwhile, Core Scientific reported its Q2 earnings after the bell on Friday. But there was too much potential merger fracas for an actual earnings call.

“Due to the pending transaction with CoreWeave, Inc., which was previously announced on July 7, 2025, the Company will not be hosting a conference call or webcast to discuss its second quarter fiscal year 2025 results,” the company said.

Block Hearts Bitcoin

Block Inc. added 108 Bitcoin to its corporate holdings in Q2, bringing its total corporate holdings to 8,692 BTC—worth approximately $1 billion at the current price.

Keep in mind, Block CEO Jack Dorsey has been a fan of Bitcoin since is earliest days. It should be no surprise that the company’s shoring up its own BTC treasury.

With an average cost of $31,248 per BTC, the company’s sitting on paper gains of 273.29%. But the more interesting data point comes from the Bitcoin the company sold—but not its own.

Block Inc. allows people to buy Bitcoin through its very popular Cash App. And of the $6 billion in revenue the company saw in Q2, $2.14 billion of it was generated just from Bitcoin sales in the app.

That Bitcoin revenue shows only a slight slowdown from Q1, when the company reported $2.3 billion in revenue from Bitcoin. If Block Inc. wants to see its 2025 Bitcoin revenue top last year, it’s going to need to see things pick up mightily in the back half of the year.

In 2024, Block reported $10.2 billion worth of Bitcoin revenue for the whole year—meaning that it’s lagging behind that mark now.

But Dorsey had promises of other Bitcoin news during yesterday’s earnings call: “We’re going to have some news very, very soon,” he said of Proto, the company’s Bitcoin mining initiative.

And, wouldn’t you guess it, Proto has a deal locked in to sell its Bitcoin mining chips to none other than Core Scientific in one of the largest ASIC agreements ever signed.

Other Keys

Bullish makes it official: Crypto exchange Bullish formally registered its initial public offering with the SEC, aiming to raise $629 million at a valuation between $3.8 and $4.2 billion. This will be the company’s second attempt at going public, after calling off a SPAC merger in 2022.

Buying the Solana dip: When alts take a breather, treasury companies line their coffers. DeFi Dev Corp bought up $18 million worth of Solana on Monday, bringing its total holdings to 1.23 million SOL.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Canaan Exits Kazakhstan and South Texas Sites Amid Bitcoin Mining Fleet Reshuffle

09/08/2025

Bitcoin’s Hashrate Roars to 976 EH/S — Just a Hair From 1 ZH/s Glory

09/08/2025

Q2 Results Reveal Strategic Shifts

09/08/2025

Jack Dorsey’s Block set to release new Bitcoin mining chips next week

09/08/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

SEC crypto ETFs ruling brings structural fix, not retail shakeup: Analysts

10/08/2025

Lido Welcomes SEC Decision Declaring stETH Non-Security

10/08/2025

Strategy Takes New Step Worth $4.2 Billion in Bitcoin

10/08/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.