This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. The most-repeated words on Circle’s first earnings call as a public company came from analysts: “Congrats on the IPO.” But another prevailing sentiment related to the stablecoin issuer’s upcoming launch of a layer-1 blockchain called Arc. USDC will be the native
Several US banking groups led by the Bank Policy Institute (BPI) urged regulators to close what they say is a loophole that could indirectly allow stablecoin issuers and their affiliates to pay interest or yields on stablecoins. In a Tuesday letter to Congress, BPI warned that a failure to close the so-called loophole in the
AI infrastructure provider CoreWeave posted another strong quarter and a larger revenue backlog in its latest quarterly earnings. Yet, its shares fell sharply in after-hours trading as investors focused on swelling costs and shrinking operating margins. CoreWeave’s revenue came in at about $1.2 billion, roughly triple year over year, but still booked a $290 million
Grok was briefly suspended from X yesterday after stating that Israel and the U.S. were “complicit in genocide in Gaza,” citing the International Court of Justice and UN sources. Musk called the suspension a “dumb error” and quickly reinstated the bot. it was just a dumb error. Grok doesn’t actually know why it was suspended.
Real-world asset (RWA) tokenization platform OpenEden partnered with The Bank of New York Mellon Corporation (BNY Mellon) to manage and custody the underlying assets of its flagship tokenized US Treasury product, TBILL. OpenEden announced the partnership Wednesday, bringing one of Wall Street’s largest and oldest custodians into the growing market for tokenized Treasurys. OpenEden said
Circle Internet Group (NYSE: CRCL) reported robust growth in the second quarter of fiscal 2025 but slid to a large net loss as one-time IPO-related non-cash charges weighed on the period. Circle said USDC in circulation jumped 90% year-over-year to $61.3 billion at the end of the quarter and rose further to $65.2 billion as
Crypto venture capital investment fell sharply to $1.97 billion in Q2 2025, a 59% quarterly decline, according to Galaxy Digital Research. The firmwide research head Alex Thorn noted the drop partly reflects an abnormal $2 billion investment in Binance during Q1 by UAE’s MGX fund; excluding that deal, the decline would have been 29%. Galaxy’s