GLXY Reports Q3 Earnings

Coinbase has paid $25 million for Jordan “Cobie” Fish’s UpOnly NFT – an on-chain stunt he created in May saying he’d only make more episodes if the NFT was bought for a price he said “seemed too big for anyone to buy even as a joke.” CEO Brian Armstrong confirmed on X, “we bought the NFT. UpOnly TV is coming back.” UpOnly hasn’t released a new episode since December 2022 following FTX’s collapse (it famously featured Do Kwon alongside Martin Shkreli in November 2022). Notably, hours before the UpOnly news, Coinbase announced they bought Cobie’s fundraising platform Echo for $375 million. Read more →

Galaxy Digital (GLXY) reported Q3 earnings this morning, calling it “the best all-around quarter in our 8-year history.” The highlight of the quarter was net income coming in at $505 million – primarily off of the huge sale of 80k BTC for a client. Impressive, no doubt, but when you consider that the company did $30.7 million in net income last quarter, it almost begins to become a question of sustainability and volatility.

Regardless, the company seemed to be firing on all cylinders in Q3 with announcements including the launch of exchange GalaxyOne, the continued construction of their Helios datacenter, and a $460 million equity investment. The stock is up 10% this morning and more than 140% YTD. Read more →

Ripple just helped launch a new DAT via SPAC called Evernorth (XRPN). Touted as the “missing link” in XRP capital markets, the press release featured a who’s who of crypto industry titans from Kraken, SBI, GSR, Pantera, and Arrington Capital. Despite the marquee backing and “largest XRP” DAT lingo, day one trading was still a blunder. As Protos points out, just about every XRP DAT has declined in value since their XRP acquisition announcements. Read more →

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