Activity tagged "crypto"

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Spotted in Coinbase’s most recent 10-Q: Coinbase has stopped using trading volume as a key metric, which is I’m sure completely unrelated to the 38%/48% decrease in spot trading volume they reported over the past three/six months

Beginning in the second quarter of 2026, we no longer include Trading Volume as a key metric. As our business has evolved to support multiple asset classes, we believe the prior Trading Volume metric which focused on spot crypto volume no longer reflects the breadth of our business. Additionally, we do not believe that a total trading volume metric would fully represent the business given the differences in economics across our diversified trading products. We believe that net income (loss) and Adjusted EBITDA best reflect the financial health of our business, and we believe that metrics focused on users and assets are better operational indicators as they measure the trust customers place in Coinbase and our ability to attract and retain users. See the section titled Non-GAAP and Other Measures for definitions of Adjusted EBITDA, AOP, and MTUs, as well as a reconciliation of net income (loss) to Adjusted EBITDA.
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This article is a great deep dive into some of the shady characters behind World Liberty Financial — Justin Sun among them, despite his recent efforts to distance himself from the project. (He likely hoped this interview would help, and it is a little friendly, but rightly points out his shadiness.)

“Justin Sun Is Blowing the Whistle on Trump's World Liberty”.
Jen Wieczner in Intelligencer.
World Liberty Financial has put $800 million in the president's pocket. Justin Sun made a huge investment — and was shocked by what he saw, reports Jen Wieczner.
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Just had to patch a bug on the Tech Influence Watch Michigan House District 13 election page, stemming from Shri Thanedar reporting -$1.1 million in receipts.

Why is Thanedar reporting negative receipts? He put $3.7 million of campaign funds into crypto.

“Two-Thirds of Shri Thanedar's Campaign Cash Came Through AIPAC as He Lost Over $600K”.
Akela Lacy in The Intercept.
Two-thirds of the Michigan congressman's campaign cash last quarter came from AIPAC bundlers after he invested millions in crypto.
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fascinating economic discovery from Fidelity: houses actually are cheaper now than in 2020!*

* if you denominate them in an arbitrary asset that has appreciated over that time frame

The average U.S. home has appreciated by over $100,000 since 2020, reflecting the broader inflationary environment across fiat-denominated assets. However, when priced in bitcoin, the average home has declined significantly in value, becoming approximately 10 times less expensive over the same period. This divergence raises a key question: Is housing becoming more expensive, or is the purchasing power of fiat currency steadily eroding?
Chart showing average home prices in dollars from 2020–2026 (rising about $100k over that period), and on the second axis the price in bitcoin (dropping by about 50BTC)

next up from Fidelity: groceries aren't getting more expensive**

** if you denominate their price in World of Warcraft gold

Read:
“Under the Trump crypto playbook, the family always wins. Investors don't”.
Tom Bergin, Michelle Conlin, Koh Qing, and Tom Wilson in Reuters. Published .
Risking little of their own money, the US president and his sons have added at least $2.3 billion to the family fortune from their main crypto ventures, while the investors they've wooed have taken a $2.3 billion hit, a Reuters examination found.