Robinhood and Coinbase Cash in on Crypto Trash

This is a published version of our week Forbes is a secret encryption Newsletter. subscription here To get Encryption A few days ago for free in your inbox.

Dogecoin Posts Bollout Roundings

Dogecoin, the 39 billion dollar jokes that turned into a black chip of Meme Coin, on a ground tour, an increase of 220 % over the past year. This is a golden mine for the Robinhood, whose customers combined have 35 billion dusks, or about 24 % of the full symbol supply. At the current prices, the value of this hideout is $ 8.8 billion, although it increased for $ 16.4 billion in December.

Crypto has become Robinhood’s cash cow. The results of the quarter showed that the digital assets were the best revenue driver, an increase of 700 % year on an annual basis to 358 million dollars, representing 35 % of net revenue. Throughout 2024, the company brought $ 2.95 billion, while net income rose ten times to 916 million dollars. And not only dog ​​money: The Robinhood Meme Coin is also included Bonk, Shiba Inu, Dogwifhat, Trump Coin and Pepe. Read more.

Coinbase’s return

Coinbase has just set out from a return that deserves the eruption of the bull market. Net net revenues Almost To $ 2.2 billion, and blows after 1.8 billion dollars expected analysts. The net income increased by 1600 % from the previous quarter to $ 1.3 billion, as the trading volume increased by 176 % to 94 billion dollars – resistance that retailers returned to the betting and betting.

It is not bad for the company that was just one year ago that was coming out of the post -FTX wreck, with revenues of about $ 3 billion and trading its shares less than $ 200. Now, with the acquisition of investment funds in Bitcoin and DC becomes more friendly, Coinbase returns to its glory days for 2021, when revenues amounted to $ 7 billion, and shares topped $ 357 for a short period.

The encryption is paid to influence in the capital

Power players in Crypto Washington stormed Washington, pressed to influence the president’s working group on the digital asset markets, led by Crypto and Ai CZAR DAVID SACKS, and work to form discussions with the newly formed encryption squad at SEC under the leadership of Commissioner Hester People. Some were hoping to obtain an official role in the Presidential Council of Advisors for Digital Assets, which was initially expected to include executives in this field. But the sources indicate a different approach in favor of the issue of the issue of the issue on the dates of the direct industry. Read more.

elsewhere:

SEC case against Crypto Excination Binance has been suspended [Reuters]

From Bny to Citi, Wall Street is on encryption [The Information]

Abu Dhabi reveals $ 437 million in Blackrock Spot Bitcoin Etf [CoinDesk]