BNY has tapped crypto financial services firm Galaxy (GLXY) to add staking capabilities to its digital asset custody platform, the companies announced Tuesday. The new service will allow institutional clients to stake digital assets held in custody through BNY’s platform, pending regulatory approval. Galaxy will provide the staking infrastructure while also serving as a design […]

Morgan Stanley downgraded shares of Circle Internet (CRCL) to underweight from equal-weight on Monday and cut its price target to $38 from $106, citing a weaker long-term earnings outlook. The stock, which slid 6% following the report, has fallen about 30% year-to-date, reflecting growing investor concern over the outlook for USDC, the company’s dollar-backed stablecoin […]

Unlike AI, which has driven a surge in demand for graphics processors to train and run large language models, quantum computing targets a different class of challenges. Researchers say the technology could accelerate molecular simulations, optimize complex logistics networks, advance materials science and improve cryptography. Krishna said IBM has already demonstrated some of that potential, […]

Coinbase said it captured a record 10.3% share of global crypto trading volume during the quarter, its third consecutive quarterly gain. Analysts at Benchmark, Oppenheimer, Clear Street and Cantor all highlighted the figure as evidence that trading activity is consolidating onto larger regulated exchanges during periods of market stress. Several also pointed to derivatives, where […]

In a post on X, CEO Brian Armstrong pointed to the company’s expanding businesses beyond spot trading, including stablecoins, Base and prediction markets, noting that Coinbase reached a record 10.3% share of global crypto trading volume during the quarter. CFO Alesia Haas struck a more measured tone, saying crypto market conditions were challenging as industry […]

That concentration could make future altcoin rallies more selective. “The result is a market where the flow that increasingly sets direction is concentrated in fewer names, traded more selectively,” the report said. It added that broad-based rallies, where most alternative cryptocurrencies rise together, are becoming less likely as institutional capital focuses on a handful of […]

Robinhood (HOOD) topped Wall Street’s second-quarter expectations, but shares fell about 4% in after-hours trading, adding to their 3.1% decline during Wednesday’s session. The online brokerage reported adjusted earnings per share of $0.62, well ahead of analysts’ $0.43 estimate, while revenue climbed 32% from a year earlier to a record $1.31 billion, narrowly topping the […]

“I think we’re going to see a lot of mainstream impact from something tokenized that people can buy that they used to have a hard time getting access to,” Galindo said. “I think that’ll probably be the first way crypto hits the people that aren’t just in it all the time and thinking about it […]

Barclays analyst Benjamin Budish estimates Coinbase processed roughly $152 billion of trading volume during the quarter, well below the Street’s expectation of about $178 billion. He expects adjusted EBITDA to come in roughly 3% below consensus, pointing to weaker blockchain rewards and institutional trading revenue. Clear Street’s Owen Lau also lowered estimates, projecting approximately $160 […]

Perpetual futures have become one of crypto’s defining financial products, but DRW CEO Don Wilson says much of what people think they know about them is wrong. In a series of posts on X, Wilson argued that perpetual futures — or “perps” — are simply futures contracts without an expiration date. The features often associated […]