Jakub Porzycki | Nurphoto | Getty Images Coinbase shares dropped in extended trading on Thursday after the crypto platform posted a wider-than-expected loss for the second quarter, underscoring the continued troubles resulting from a deepening crypto winter despite its efforts to diversify revenue. Here’s how Coinbase performed in its quarter ended June 30, compared with what Wall…
Kraken is preparing to reintroduce its app with agentic trading at its core, a development that could mark the next major competitive battleground for crypto exchanges, the company told CNBC exclusively. Agentic trading is when AI agents autonomously make trading decisions, execute transactions and potentially manage portfolios, based on human inputs. Unlike traditional automated systems…
Stablecoin issuer Circle surged after the U.S. Office of the Comptroller of the Currency, or OCC, granted it approval Friday to operate as a trust bank, the company said. Shares of the company were off their initial highs but last trading up 5%. The approval gives the company the ability to manage reserves directly for…
Jeremy Grantham renewed his long-running criticism of bitcoin, predicting it will gradually fade into irrelevance over decades. The co-founder of investment firm GMO and a longtime market commentator known for his calls on asset bubbles, said bitcoin is a “useless, speculative” asset without intrinsic value, speaking on CNBC’s “Squawk Box” Friday. He also said bitcoin…
Justin Tallis | Afp | Getty Images Bitcoin dropped on Wednesday to its lowest level since October 2024 amid a pullback in tech stocks, as the crypto bear market drags on. The price of bitcoin slid more than 4% to $59,548.19. Earlier, it hit a low of $59,023.98, its lowest level since Oct. 10, 2024….
Circle Internet Group has raised $222 million in the presale of Arc, the native token of its new blockchain, as the company looks to expand beyond its core business of issuing the USDC stablecoin, CNBC has learned. Andreessen Horowitz served as the lead investor in the raise with a $75 million investment. Other investors include…
Coinbase posted lower-than-expected results for the first quarter as crypto prices fell, weighing on one of the companies’ major revenue drivers — spot trading in digital assets . Here’s how Coinbase performed in its quarter ended March 31, compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per…
Michael Saylor, chairman of MicroStrategy, speaks at the Bitcoin 2024 conference in Nashville, Tennessee, US, on Friday, July 26, 2024. The conference is an annual event organized by BTC Media LLC for fans of the original cryptocurrency. Photographer: Liam Kennedy/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images Strategy’s latest earnings release marks a…
Coinbase CEO Brian Armstrong said Tuesday that the company will cut roughly 14% of its workforce, or about 700 employees, citing a combination of market volatility and AI quickly changing how the company operates. The move comes ahead of Coinbase’s first-quarter earnings, which the company is scheduled to report Thursday. Shares fell 3% midday, after…
Kraken is one of the world’s largest crypto exchanges. Tiffany Hagler-Geard | Bloomberg via Getty Images Kraken co-CEO Arjun Sethi reiterated Tuesday that the crypto exchange has confidentially filed for a U.S. initial public offering. In November 2025, CNBC reported Kraken was planning its debut. Separately, Kraken said in a blog post at the time…
