Tether, who just made over $1B in profits last quarter, just announced the successful acquisition of a 70% controlling stake in Adecoagro $AGRO ( ▲ 2.24% ) – a company that produces energy and food throughout South America. This is all part of Tether’s strategy to diversify away from digital finance – especially as competition heats up – and into real-world infrastructure including energy, agriculture, data, and communications.
Morgan Stanley is working on a plan to add cryptocurrency trading to its E*Trade platform in 2026, according to Bloomberg. To support this integration, the firm is exploring partnerships with crypto-native companies. Meanwhile, rival Charles Schwab said Thursday that it aims to starting building a crypto trading platform as early as this year. This whole crypto trading thing? Yeah, clearly more than just a fad these days in the halls of the big banks. Stocks, ETFs, mutual funds, and “pet rocks” – right? (You’re next Dimon!!)
While under no requirements to release financials as a private company, Kraken for the second quarter in a row is giving potential IPO investors a glimpse into the company’s financials. The exchange posted revenues of $472 million (+19% YoY) and trading volumes of $209 billion (+29% YoY). Like we recently saw with Robinhood’s Q1 earnings though, revenue and trading volumes were both down QoQ amid market softness. Still, Kraken reported positive adjusted EBITDA of $187.4 million (+17% YoY; +1% QoQ). With the company’s acquisition of NinjaTrader officially closing as of yesterday, an IPO this year is looking likely.
Kraken tells how it spotted North Korean hacker in job interview (CoinTelegraph)
Cash is 0.04% of Tether’s assets (Protos)
Ripple has apparently gone beyond the initial reports of their first $5B offer for Circle (X)
Riot Platforms (RIOT) posts net loss in Q1 despite doubling revenue amid AI pivot (The Block)
Metaplanet Issues $25 Million In Bonds To Buy More Bitcoin (Bitcoin Magazine)