Important information last night this morning (May 8-May 9)
Reprinted from panewslab
05/09/2025·15D
CleanSpark announced that its revenue for the second quarter of fiscal year 2025 ended March 31 was US$181.7 million, a year-on-year increase of 62.5%; the net loss in the same period was US$138.8 million, compared with a profit of US$126.7 million in the same period last year. Adjusted EBITDA was -57.8 million US dollars, turning from profit to loss year-on-year. The company holds Bitcoin assets worth US$980 million, with total assets of US$2.7 billion, net assets of US$1.9 billion and working capital of US$838 million.
Mining company MARA's revenue grew by 30% in Q1, and Bitcoin holdings soared to 47,531
According to the company's financial report, MARA Holdings' revenue in Q1 2025 reached US$214 million, a year-on-year increase of 30%; Bitcoin holdings reached 47,531 pieces, an increase of 174% over the same period last year, and its current valuation is about US$3.9 billion. Despite revenue growth, the company still recorded a net loss of $533 million, mainly due to the decline in Bitcoin’s price at the end of the quarter, resulting in book losses on assets. The company emphasized that it will continue to promote the transformation of vertically integrated energy and computing power infrastructure.
Mining company Hut 8's revenue fell nearly 58% in the first quarter, with a loss of US$134 million
According to Bloomberg, US Bitcoin mining company Hut 8 released its Q1 financial report after cooperating with Trump's son to establish American Bitcoin Corp., with revenue falling nearly 58% year-on-year to $21.8 million and recording a loss of $134.3 million. The company attributed the losses to the impact of Bitcoin halving and mining machine upgrades and shutdowns. Despite this, Hut 8 plans to continue investing in the joint venture and expand the AI high-performance computing power center. The company's stock price rose 17% after the news was announced.
Ripple and SEC formally reach a settlement agreement to close the case for $50 million
Court documents show that Ripple and the U.S. Securities and Exchange Commission (SEC) have reached a settlement agreement to lift the injunction imposed by the court in its August 2024 judgment, and pay only $50 million of the $125 million civil fine to the SEC, and the remaining $75 million is returned to Ripple. Both parties agreed not to appeal or request the revocation of the previous judgment. Since the lawsuit was filed in 2020, it involves the issue of XRP as a securities sales. SEC Commissioner Caroline Crenshaw publicly opposed the agreement, saying the move undermines regulatory authority, undermines court rulings and exacerbates regulatory gaps. The agreement will still require the court to make an "indicative decision" and be approved by the Court of Appeal before it can officially take effect.
According to The Block, Camp Network announced the launch of its first public test network "K2", focusing on intellectual property management. The project completed a US$30 million Series A financing led by 1kx and Blockchain Capital in April. Camp said dozens of dApps will be deployed before the main network is launched, and the ecological partners cover more than 5 million users and creative content. Camp also builds a "clearable AI training data market" to promote verifiable traceability and fair monetization of IP in the fields of art, music, data, etc.
Acurast will launch token sale on CoinList at 1 a.m. May 16
According to CoinList announcement, the decentralized computing network Acurast will start token sales on CoinList at 1 a.m. on May 16 (Beijing time), and the tokens will be unlocked 100%. Acurast uses smart phones to build a decentralized computing platform, and more than 65,000 devices have been connected. The total sales volume is 60 million ACUs, with a unit price of $0.09 and a valuation of $90 million. Adopt a "bottom-up" distribution mechanism to give priority to small purchasers. This sale is not open to specific regions such as the United States and Canada.
Stablecoin GENIUS bill failed Senate vote, Democrats argue Trump is involved in conflict of interest
According to NBC, the U.S. Senate rejected the stablecoin regulatory framework bill GENIUS Act at 48:49 due to collective opposition from the Democratic Party, saying that the Trump family's involvement in cryptocurrencies poses a risk of corruption. Although the Republican Party accounts for the majority, it has not reached the 60-vote procedure threshold. The bill originally planned to establish the first US stablecoin regulatory system. Democrats demand that provisions such as banning government officials from holding crypto assets are not included in the bill. Senate Republicans said they would advance the vote again in the next few days.
Coinbase's first quarter revenue fell by 10%
According to The Block, Coinbase released its Q1 2025 financial report, with revenue of US$2.034 billion, lower than the expected US$2.12 billion; earnings per share of US$0.24, far below the market expectations of US$1.93. Trading volume fell 10% from the previous quarter, and trading revenue fell to $1.26 billion. The company announced it would acquire derivatives exchange Deribit for $2.9 billion to expand its global derivatives business. For the quarter ended March 31, adjusted net profit was $527 million and net profit was $66 million.
According to Fortune, Meta is initially negotiating stablecoin applications with several crypto companies three years after giving up the Libra/Diem project, exploring cross-border payments to creators through stablecoins to reduce fees. Since January this year, former Plaid executive Ginger Baker has served as vice president of Meta products, leading the relevant promotion.
BTC breaks through $104,000, with an intraday increase of 3.46%
According to the Ouyi OKX market, BTC has just broken through US$104,000 and is now at US$104,253.40 per coin, an intraday increase of 3.46%.
Coinbase will be launched on Space and Time (SXT)
According to the official announcement, Coinbase will add support for Space and Time (SXT) on the Ethereum network (ERC-20 token). Do not send this asset through other networks, otherwise your funds may be lost. If liquidity conditions are met, trading will start later today. Once the asset is sufficiently supplied, the SXT-USD pair will be launched in stages. In some support areas, support for SXT may be restricted. Coinbase will add "experimental" tag support to SXT.
According to Business Insider, Nasdaq-listed company DeFi Development Corp (formerly real estate software company Janover) spent about $2.97 million to buy 20,473 SOLs today, with total holdings increasing to 420,690 SOLs.
Abraxas Capital has extracted 49,644 ETH from Binance and Kraken today, about $92 million
According to Lookonchain monitoring, Abraxas Capital has extracted 49,644 ETH (worth about $92 million) from Binance and Kraken today. The latest extraction was 26 minutes ago.
SEC Commissioner Hester Peirce disclosed that the SEC Cryptocurrency Working Group is studying a potential registration exemption program that allows companies to issue, trade and settle securities through distributed ledger technology (DLT). The exemption will exempt some SEC registration requirements and support enterprises to adopt innovative trading systems to process eligible tokenized securities. The exemption mechanism comes with strict conditions: the exemption entity will comply with the market integrity conditions that prevent fraud and manipulation. Other conditions may include requiring users to provide important and relevant disclosures regarding platform products, services, operations, conflicts of interest and risks (including smart contract risks); comply with record keeping and reporting requirements; accepting supervision and inspection by SEC staff; and having sufficient operational financial resources. Additional requirements for participants providing cryptocurrency custody services may include disclosure of custody arrangements and risks to clients, as well as requiring the implementation of policies and procedures or substantive requirements related to blockchain and wallet security. Restrictions such as limiting the number and type or volume of tokenized securities listed or traded can reduce risks to investors and the market. For companies that operate successfully under their initial restrictions, the SEC can raise these caps.
Sonic Labs completes $10 million strategic financing, led by Galaxy
According to official news, Sonic Labs announced the completion of a US$10 million S token strategic financing, led by Galaxy. This cooperation will accelerate Sonic Labs' expansion in the US market and provide key support for its DeFi ecosystem development. The collaboration aims to bridge traditional finance with Sonic’s high-performance blockchain infrastructure through its resources. Sonic Labs CEO Michael Kong said that the addition of Galaxy will bring important market insights and resources to the ecosystem. This cooperation also reflects the institutions' confidence in blockchain technology to transform financial infrastructure.
According to The Block, the Arbitrum community has decided to use 35 million ARB tokens worth about $11.6 million to invest in tokenized U.S. Treasury bonds through an on-chain vote. The funds will be allocated to tokenized Treasury bond products issued by three institutions, Franklin Templeton, Spiko and WisdomTree. The vote started on May 1 and was finally passed with a support rate of nearly 89%. A professional committee elected by the community evaluated more than 50 proposals and finally selected these three institutions based on management fee rates, fund size, risk control and other standards. The head of Franklin Templeton's digital asset business said that the cooperation will leverage the advantages of Arbitrum Layer2 network technology to provide customers with efficient financial services. Arbitrum Community Consultant believes that this is an important milestone in the deep cooperation between cryptocurrency fields and traditional financial institutions. According to the plan, unselected applicants will have the opportunity to participate in the next round of fund allocation.
Coinbase to acquire crypto options platform Deribit for $2.9 billion
According to the Wall Street Journal, Coinbase executives said the company has agreed to acquire Deribit, the world's largest Bitcoin and Ethereum options trading platform. The deal still needs regulatory approval, and Coinbase will also take over Deribit's operating license in Dubai.
Strategy to release Bitcoin Standard Model for 2025 to help businesses adopt Bitcoin
According to Cointelegraph, Strategy (formerly MicroStrategy) will release the 2025 Bitcoin standard model to help companies adopt Bitcoin.
According to a post by encrypted KOL @pete_rizzo_, CEO of Indian publicly traded company Jetking said it is raising billions of dollars to buy 18,000 BTC. According to the video it shared, Jetking CEO said: "In the next six months, we plan to raise funds and expand the scale to about 180 bitcoins. In the next year, we will reach the scale of about 1800 bitcoins. And ultimately, around 2030, we will use the various tools and resources available on hand, and we will reach the scale of about 18,000 bitcoins."
According to The Block, Sei blockchain core development team Sei Labs recently proposed the key proposal SIP-3, planning to gradually phase out the existing CosmWasm smart contracts and native Cosmos account functions, and fully move to the Ethereum virtual machine (EVM) architecture. The proposal aims to simplify the network structure and improve performance. In the future, Sei network will only support transactions initiated through EVM addresses, but underlying functions such as verification nodes will still retain Cosmos native technical support. This transformation is based on actual data after the Sei v2 main network was launched: Since the introduction of parallelized EVM in July 2024, EVM-related transaction volume has dominated network activities. The proposal is in the community discussion stage and will be made through process decisions such as Snapshot voting. If passed, the developer needs to migrate the CosmWasm application to the EVM environment, and the user also needs to transfer the assets to an EVM-compatible wallet. This change is expected to optimize the developer experience and help Sei deeply integrate into the EVM ecosystem.
jinse