🦎🚀 Guilty on all counts! 👮

Friday, November 3, 2023

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Beating Estimates

Cryptocurrency exchange Coinbase released its third-quarter result, reporting a loss of $2.2 million. Despite better-than-expected financial results, the company's shares fell during after-hours trading.

On a per-share basis, Coinbase recorded a loss of $0.01 with $674 million in revenue, surpassing analysts' expectations of a loss of $0.70 on $670 million in revenue for the quarter.

Following the earnings report, Coinbase's shares, which are traded on Nasdaq under the COIN ticker, experienced a 4% drop to $81 during after-hours trading.

In today's news, SBF is declared guilty, SEC shifts its sights to Paypal, and ProShares launches their new ETF.

Read on!

24h Hot Searches Worldwide 🔥

Arbitrum (-5.7%)
Polygon (-1.8%)
Celestia (-10.2%)
IQ (-7.4%)
Dione (-5.3%)
GALA (-8.1%)
Litecoin (-1.3%)

Top Bitcoin Mining Companies

The top 14 Bitcoin mining companies currently hold a combined 38,903 BTC.

However, this is just 0.18% of the maximum 21 million BTC supply, and significantly less than MicroStrategy's BTC holdings.

DEXs have evolved from simply offering spot market transactions. Watch this video to learn about the top perpetual futures DEXs and their features!

Find out now!

Jury's Decision

Sam Bankman-Fried, the founder and former chief executive of FTX, has been found guilty of defrauding his customers and lenders by a New York jury after a five-week trial.

A tentative sentencing date of March 28, 2024, has been set, and Bankman-Fried could potentially face several decades in prison, with a maximum theoretical sentence of up to 115 years.

Decrypt

Not Your Pal

The U.S. Securities and Exchange Commission (SEC) has requested documents related to PayPal's relatively new stablecoin, PYUSD.

The SEC had previously filed a lawsuit against the Binance-branded BUSD stablecoin, which is issued by Paxos, in March.

It's worth mentioning that PayPal's stablecoin is also a product co-managed by Paxos.

CoinDesk

Feeling Bearish on ETH?

Asset manager ProShares has introduced the ProShares Short Ether Strategy ETF (SETH), providing investors with the means to capitalize on declines in the price of Ether.

SETH is listed on the New York Stock Exchange and endeavors to deliver the inverse of the daily performance of the S&P CME Ether Futures Index.

Similar to other offerings within the ProShares suite, SETH achieves exposure through Ether futures contracts.

The Block

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With new protocols launching, there are multiple airdrop scams targeting users who are looking for lucrative new airdrops. Learn about the types of airdrop scams and how to avoid them.

Find out more!

Here are the top trending coins for this week!