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Coinbase Q2 Profit Falls Short as Crypto Trading Share Hits Record

Coinbase reported mixed results for the second quarter, showing profitability pressure as overall crypto trading activity softened—despite the exchange winning a record slice of global market volume. The company’s performance underscored a key tension for large exchanges this year: when user activity and volatility decline, even strong market share gains may not be enough to offset revenue headwinds. For the quarter, Coinbase generated about $1.2 billion in net revenue, broadly in line with expectations but down 19% from the prior year. The exchange posted a GAAP net loss of $359 million, widening significantly versus analysts’ expectations for a loss around $122 million. Key takeaways Coinbase’s net revenue for Q2 was roughly $1.2 billion, down 19% year over year, as trading-related revenue weakened. The company reported a GAAP net loss of $359 million, materially worse than expected. Transaction revenue fell short of consensus, while subscription and services revenue also misse...
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Ripple-Backed Evernorth Completes Executive Agreements Ahead of XRP Treasury Listing

Ripple-backed Evernorth Holdings has advanced its public market plans after updating its SEC registration. The company completed executive employment agreements and submitted another amended Form S-4 filing. Meanwhile, the latest disclosures also outlined compensation packages, merger progress, and financial impacts linked to recent XRP price weakness. Ripple-Backed Evernorth Completes Leadership Agreements Evernorth Holdings submitted Amendment No. 5 to its Form S-4 registration statement with the U.S. Securities and Exchange Commission. The filing completed employment agreements for the remaining members of the executive leadership team. As a result, the company has finalized compensation arrangements before its proposed public listing. The agreements cover Chief Legal Officer Jessica Jonas, Chief Business Officer Sagar Shah, and Chief Operating Officer Meg Nakamura. Each executive will receive a base salary, annual bonus eligibility, employee benefits, and restricted stock units. Th...
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Schumer Pushes New Agency for Corruption Oversight, Targets Crypto Ties

Senate Minority Leader Chuck Schumer has introduced new federal legislation aimed at creating an “Anti-Corruption Bureau” with the power to investigate, enforce, and prevent executive-branch corruption. The proposal also folds into a wider political fight over cryptocurrency ethics and market-structure reform, as Schumer’s remarks directly referenced President Donald Trump’s financial ties to crypto. According to Schumer’s office, the bill—called the Anti-Corruption Bureau Creation Act —would establish a new agency designed to replace what he described as a fragmented system of oversight bodies. Schumer and cosponsors presented the effort as a targeted response to conflicts of interest they say stem from public office and lucrative crypto-related investments. Key takeaways Schumer introduced the Anti-Corruption Bureau Creation Act , proposing a dedicated US agency to investigate, enforce, and prevent executive-branch corruption. The bill’s rationale ties to alleged Trump-linked fin...
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Ontario Survey Finds Canadian Crypto Ownership Rises to 25%

Canadian crypto participation is rising quickly, according to fresh research from the Ontario Securities Commission (OSC). The regulator’s latest survey suggests that the share of Canadians who own cryptocurrencies has climbed to 25% in 2026, up from 10% in 2023—an expansion that also coincides with broader awareness of crypto assets. The OSC released the findings Tuesday, based on a poll of 2,360 Canadians aged 18 and over conducted between December 2025 and January 2026. The study found that 59% of respondents said they are aware of crypto assets, while 25% reported that they currently hold cryptocurrencies. Key takeaways The OSC survey reports crypto ownership has reached 25% in 2026, compared with 10% in 2023. Awareness increased alongside ownership, with 59% of respondents indicating they know about crypto assets. About half of crypto owners said they check whether a platform is registered before using it. Despite growing caution, the OSC found widespread confusion about r...
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Bitcoin Holds Steady as US PCE Inflation Falls for First Time in 6 Years

Bitcoin traded with subdued volatility on Thursday as a rebound in US equities and a softer read on inflation reduced the pressure investors had placed on risk assets. In late US trading, BTC held near $64,500, largely steady from the prior day, after market attention shifted to June’s US Personal Consumption Expenditures (PCE) inflation release. The PCE report showed inflation cooling to 3.7% year-on-year—matching expectations—while S&P 500 and Nasdaq Composite gains reflected a broader “risk-on” tone. Even so, commentators cautioned that the numbers still sit well above the Federal Reserve’s 2% target, keeping the longer-term debate about the inflation path alive. Key takeaways Bitcoin largely shrugged off Thursday’s macro-driven volatility, holding around the $64,500 area as US stocks rebounded. June PCE inflation came in at 3.7% year-on-year, in line with forecasts, ending a short-term uptrend in the data. Despite the cooler print, inflation remains materially above the F...
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Australia Sues Telegram Over Alleged Extremist Content

Telegram is facing a fresh legal fight in Australia after the country’s online safety regulator moved to seek civil penalties, alleging the messaging service did not adequately address terrorism-linked content. According to a statement from Australia’s eSafety Commissioner, the regulator filed civil penalty proceedings against Telegram in the Federal Court on Thursday, accusing the platform of failing to meet obligations under the nation’s Online Safety Act. Key takeaways Australia’s eSafety Commissioner has launched civil penalty proceedings against Telegram in Federal Court over alleged failures to tackle pro-terror content. The regulator alleges Telegram did not respond sufficiently to multiple user complaints and that some reported material remained visible for as long as three weeks. eSafety claims Telegram failed to take adequate preventive steps, including actions to remove or disrupt repeat violators such as channels and groups. The case forms part of broader, escalatin...
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South Korea Crypto Trading Spikes as Stock Market Drops

South Korean crypto markets saw a sharp burst in activity after the KOSPI suffered steep losses this week, highlighting how equity sell-offs can quickly redirect attention toward digital assets—and related products traded overseas. According to data from Upbit, trading between the Korean won and Tether (USDT) accelerated rapidly during the index’s decline. Meanwhile, analysts are pointing to a different storyline in parallel: despite the macro pressure weighing on risk assets, Bitcoin has shown relative strength compared with large U.S. stock benchmarks. Bitwise’s latest research argues that the cryptocurrency’s performance is increasingly notable as financial conditions tighten. Key takeaways Upbit KRW/USDT volume nearly hit 200 billion won (about 140 million USDT) on July 29, up from roughly 20 million USDT on July 25—about a 600% jump. Local analysis linked the surge to fund rotation away from Korean equities and toward crypto trading or stock-linked derivatives available throug...
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