Galaxy Digital shares jumped on Tuesday after the institutional crypto firm reported $505 million in third-quarter profits amid an increasing amount of assets on its platform. The New York-based firm, which debuted GalaxyOne this month, is positioning itself as a competitor to retail-focused platforms like Robinhood and Coinbase, and it said that its platform reached
BitcoinOS (BOS) has raised $10 million to expand its institutional Bitcoin finance tools and developer protocols. The round was led by Greenfield Capital, with participation from FalconX, DNA Fund, Bitcoin Frontier Fund and a group of angel investors including Anchorage Digital CEO Nathan McCauley and Spartan Group’s Leeor Groen, BOS announced via email on Tuesday.
Investment bank Citi (C) initiated coverage of Strategy (MSTR) with a buy/high risk rating and a $485 price target, positioning the stock as a leveraged bet on bitcoin BTC$113,197.67. MSTR shares were 1.5% higher in early trading on Tuesday, around $301. The price target reflects Citi’s 12-month bitcoin forecast of $181,000, representing 63% upside from
Bitcoin BTC$112,463.21 is catching a bid on Tuesday as the record rally in precious metals reverses in a big way. Gold saw a 5% decline to $4,130, its biggest daily drawdown in years. Silver also tumbled nearly 8%. The metals had surged over the past few months fueled by central banks moving into monetary easing
U.S. Federal Reserve Gov. Christopher Waller kicked off the central bank’s first payments-innovation conference by vowing the Fed will embrace the crypto sector’s innovations and saying he’s asked staff to explore a lighter version of the so-called “master accounts” that give financial firms access to U.S. payment rails. “My view from the Fed from now
Shares of Galaxy Digital (GLXY) are ahead 2% on Tuesday after the crypto-focused financial firm beat third quarter revenue expectations by a wide margin and confirmed major progress on its Helios data center project. Led by CEO Mike Novogratz, the company reported $29 billion in revenue, nearly doubling analyst forecasts of $16 billion. Galaxy credited
Leading cryptocurrency Bitcoin (BTC) experienced sharp declines in October, known as the historically bullish month. At this point, Bitcoin has continued its decline despite its traditional upward trend in October and is still searching for direction. Analyst James Van Straten said Bitcoin continues to struggle in October, one of the strongest months in history. The
Coinbase has acquired Echo, an onchain fundraising platform, for approximately $375 million, the crypto exchange announced Tuesday. The deal marks another major acquisition this year for Coinbase as it expands its role in early-stage crypto funding. “We want to create more accessible, efficient, and transparent capital markets,” the company said in a statement. “But today,
YZi Labs, the former venture arm of Binance, led a $25.5 million strategic investment round for Sign, Blockworks has exclusively learned. IDG Capital also participated in the round. In January, Sign raised $16 million from YZi Labs, which was also YZi’s first investment after being spun out from Binance after former Binance CEO Changpeng Zhao
CoreWeave (CRWV) CEO Michael Intrator told CNBC the company will not raise its $9 billion all-stock offer for bitcoin miner Core Scientific (CORZ), calling the acquisition a “nice to have, not a need to have.” He said the offer fairly reflects the relative value of both companies and that CoreWeave will continue as planned even