Earnings Season Gathers Steam

Backpack, the crypto exchange founded by former FTX employees, is reportedly raising $50 million at a $1 billion valuation. The Dubai-based platform unveiled a tokenization plan splitting 1 billion tokens between post-IPO treasury reserves (37.5%) and pre-IPO market circulation (37.5%) tied to expansion milestones. Co-founder Armani Ferrante said the structure prevents "dumping on retail" investors. Read more →

The recent pullback hasn’t been kind to Coinbase (COIN) to say the least. The company has seen its share price plunge more than 50% since bitcoin's ATH candle in October, including a ~30% decline in 2026 alone. With Q4 earnings coming up later this week, analysts are already baking in that sluggish backdrop. JPMorgan, for example, just cut its December 2026 price target to $290 from $399, citing weaker crypto trading volumes, softer prices and slower USDC growth. All eyes will be on whether the company has truly begun to diversify away from crypto trading and stablecoin revenue. Read more →

Beast Industries, the entertainment company behind YouTube's MrBeast and his 450 million subscribers, acquired Step, a “financial literacy” platform with 7 million users. The deal brings combines MrBeast's massive audience, with Step's banking technology in a sort of deal that may represent the future of fintech distribution. All they need now is crypto access, which could be why BitMine (BMNR) just invested $200 million into Beast Industries. Read more →

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