By Kapil Rajyaguru
Coinbase in Talks for Return to India 2 Years After Exit.
Crypto exchange Coinbase (COIN) is holding talks with Indian authorities in an effort to secure approval to return to the country it quit in 2023, Tech Crunch reported on Wednesday.
The exchange is in talks with regulators, including the Financial Intelligence Unit (FIU), Tech Crunch said, citing two people familiar with the matter.
The company joins other crypto exchanges in looking to establish, or reestablish, a presence in the world’s most populous country. Binance, the largest exchange traded by volume, registered with the FIU last year after paying a $2.2 million fine for operating without authorization. Bybit, ranked No. 2 on CoinGecko, registered after paying a $1 million fine.
Bitcoin HODLer Metaplanet to Join MSCI Japan Index, Raises $26mn to Buy More BTC.
Metaplanet (3350), a Japanese bitcoin (BTC) acquirer, will be added to the Morgan Stanley Capital International (MSCI) Japan index at the end of Feb. 28, according to the firm’s CEO Simon Gerovich.
The MSCI index tracks mid- to large-cap Japanese stocks, which serve as a key benchmark for institutional investors worldwide. As a result of inclusion, Metaplanet will benefit from increased exposure to global investment funds and exchange-traded funds (ETFs) that track MSCI indices.
In addition, Metaplanet confirmed they had completed a raise for $26 million (4 billion yen) for 0% of unsecured, unguaranteed ordinary bonds to purchase additional bitcoin.
Robinhood Shares Surge As Q4 Crypto Revenue Jumps 700%.
Robinhood shares rose 17% in after-hours trading as its Q4 earnings beat consensus estimates, and cryptocurrency revenue jumped 700% year over year.
The $916 million net income that Robinhood reported in its Feb. 12 results statement marked its fifth consecutive profitable quarter, beating consensus estimates by over 9%.
Crypto revenue reached $358 million, accounting for over half of Robinhood’s $672 million transaction-based revenues—which increased over 200% year-on-year. Crypto trading volumes increased by 450% year-over-year to $71 billion.
Hive Digital Clocks $29.2mn in Q3 Revenue as Bitcoin HODL Position Surges.
Data center infrastructure provider Hive Digital reported earnings and revenue growth for the final quarter of 2024, driven by record Bitcoin reserves and an expanding high-performance computing (HPC) business.
In the quarter ending Dec. 31, Hive’s revenues from crypto mining and HPC hosting services reached $29.2 million.
Its HPC business generated $2.5 million in quarterly revenue for an annualized run rate of $10 million. The company’s adjusted earnings were $17.3 million, while net income after tax amounted to $1.3 million.
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