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  • Maple Finance (SYRUP) surges 12% as protocol revenue hits record $2.16M in October

    Maple Finance (SYRUP) surges 12% as protocol revenue hits record $2.16M in October

    Maple Finance Token Syrup

    • Maple Finance (SYRUP) price rose 12% on strong volume.
    • Gains see bulls converge near the key resistance zone of $0.50.
    • The uptick comes as Maple hits a new all-time high in monthly protocol revenue.

    Maple Finance (SYRUP) price is experiencing a notable outperformance.

    According to CoinMarketCap data, the on-chain asset management platform’s native token has spiked more than 12% in the past 24 hours, outpacing the broader cryptocurrency market.

    Notably, gains align with the platform’s record-breaking revenue performance in October 2025, and come amid key recent developments for the Maple Finance ecosystem.

    SYRUP price jumps 12%, outpaces crypto market

    Cryptocurrencies showed a muted reaction to the Federal Reserve’s 25 basis points interest rate cut on Oct. 29. Prices fell amid Fed chair Jerome Powell’s speech.

    Bitcoin and top altcoins also showed a similar outlook during Asian hours on Thursday despite positive U.S.-China trade talks reports.

    However, amid this generally subdued crypto market reaction, Maple Finance shone.

    The SYRUP token registered an impressive 12% increase over the past 24 hours as it hit highs of $0.45.

    This surge saw the DeFi token stand alongside Zcash, Euler and Aerodrome Finance as some of the top performers on the day with double digit gains. While selling has token’s price off intraday highs, bulls are looking to hold near $0.42.

    Maple Finance SYRUP
    SYRUP price chart by CoinMarketCap

    For SYRUP, gains come amid robust trading activity.

    CoinMarketCap data shows a sustained bullish momentum on the back of strong trading volume of $76.4 million – up 120% in 24 hours.

    As bulls gather near a critical resistance level of $0.50, it appears fresh capital flows into Maple’s offerings and significant sector traction could aid the SYRUP price.

    Maple Finance hits $2.16M in monthly protocol revenue

    As SYRUP holders cheer their latest gains, also on the agenda is Maple Finance’s milestone of a new all-time high in monthly protocol revenue.

    Per details, Maple reached $2.159 million for October 2025. This milestone represents a significant leap from previous months.

    Maple Finance
    Maple Finance revenue chart from Dune Analytics

    For context, revenue figures from earlier months showed a progressive climb.

    The protocol started from modest levels around $100,000 in early 2024, before jumping to about $1.2 million by mid-2025. In October, that figure stood at over $2 million.

    Notably, the revenue boost stems from increased activity in Maple’s lending and asset management services, which cater to institutional players seeking on-chain solutions.

    Protocol fees from borrowing, lending, and yield-generating activities have increased substantially, reflecting the platform’s success in scaling its operations.

    Key gains, in both price and revenue, are unfolding against a backdrop of strategic milestones for Maple Finance. One is the sunsetting of SYRUP staking to introduce buybacks.

    The platform recently forged a partnership with Aave, a leading DeFi lending protocol, to introduce institutional-grade credit options.

    This collaboration allows for the listing of assets like syrupUSDT on Aave’s markets, enhancing liquidity and capital efficiency for users.

    Additionally, Maple recently announced reaching $5 billion in assets under management (AUM), a testament to its growing influence in managing on-chain investments.

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  • Crypto trading boom lifts Kraken Q1 revenue to $472 million

    Crypto trading boom lifts Kraken Q1 revenue to $472 million

    • EBITDA for the quarter reached $187.4 million, a 17% increase.
    • Trading volume rose 29% amid a 35% rally in Bitcoin prices.
    • Launch of institutional FIX API boosted futures volumes by 250%.

    Kraken, one of the longest-operating cryptocurrency exchanges in the United States, reported a 19% year-on-year increase in revenue for the first quarter of 2025, reaching $472 million.

    The jump in trading activity followed heightened price volatility across the crypto market, largely driven by the return of Donald Trump to the White House and his pro-crypto policies, which included discussions of a national Bitcoin reserve.

    Kraken’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached $187.4 million, up 17% from Q1 2024.

    However, despite strong numbers, regulatory pressure, rising competition, and market uncertainty remain key hurdles for the company’s long-term strategy.

    Revenue climbs on market volatility and pro-Bitcoin sentiment

    According to company data, Kraken’s trading volume surged 29% during the January–March period, mirroring the 35% rise in Bitcoin prices — from $69,000 to $94,000 — during the same timeframe.

    The increased volume was partly driven by favourable sentiment following the Trump administration’s commitment to explore Bitcoin as a strategic reserve asset.

    This policy signal helped fuel broader interest in the cryptocurrency sector, with major exchanges, including Kraken, benefiting from the resulting speculative activity.

    The surge in crypto valuations and trading enthusiasm also coincided with rising adoption of advanced features on the Kraken platform.

    The company rolled out a futures-focused FIX API during the quarter, specifically targeting institutional users.

    The product launch led to a 250% increase in monthly futures trading volumes, underscoring the shift towards professional-grade infrastructure.

    NinjaTrader acquisition adds new traders, products to portfolio

    Kraken expanded its offering in March 2025 by acquiring NinjaTrader for $1.5 billion.

    The deal added nearly 2 million traders to its ecosystem and allowed Kraken to diversify beyond cryptocurrencies into broader financial markets.

    With the acquisition, Kraken now offers trading in futures contracts tied to commodities, forex, and equities — a strategic pivot aimed at reducing the platform’s reliance on crypto market cycles.

    The company said its institutional strategy will continue evolving throughout 2025, with further integrations and platform improvements in the pipeline.

    Its diversification into adjacent markets mirrors a trend seen across the industry, as exchanges seek to weather periods of low volatility and attract capital from outside the crypto-native audience.

    Challenges ahead despite strong Q1

    Despite the growth, Kraken still faces key operational and competitive challenges.

    The exchange operates in an increasingly saturated market, with Binance, Coinbase, and several Asia-based players aggressively pursuing global market share.

    Maintaining user growth will likely require continued product innovation and regional expansion.

    The company’s revenue model remains closely tied to trading volume, which makes it vulnerable to market consolidation or prolonged bearish cycles.

    While early 2025 benefited from speculative tailwinds, any cooling of the Bitcoin rally could impact the next quarter’s results.

    Kraken must navigate a fluid regulatory environment.

    While the Trump administration has signalled support for digital assets, regulatory oversight from the Securities and Exchange Commission and other agencies continues to evolve.

    Global compliance requirements may also pose hurdles as Kraken pushes into new geographies, including Asia.

    The company’s blog post dated 1 May 2025 hinted at plans for expanding Kraken Pay and on-chain staking services, offering a potential path to more stable, recurring revenue.

    However, execution risks remain, especially as competition intensifies and regulatory clarity remains inconsistent across jurisdictions.

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  • Dan Dolev sees Coinbase missing Q3 revenue estimates by 10%

    Dan Dolev sees Coinbase missing Q3 revenue estimates by 10%

    dan dolev coinbase missing q3 revenue
    • Mizuho analyst forecasts up to $652 million in revenue for Coinbase in Q3.
    • Dan Dolev continues to see sharp downside in the crypto stock to $27.
    • Coinbase shares are already down roughly 35% versus their YTD high.

    Mizuho lowered its quarterly revenue estimate for Coinbase Global Inc on Wednesday. Its shares are down 1.0% at writing.

    Dan Dolev shares his view on Coinbase

    Dan Dolev now expects the crypto exchange to report revenue about 7.0% below his previous forecast for the third quarter. On Wednesday, he said in a research note to clients:

    We expect dwindling volumes combined with an expected drought in retail trading to meaningfully weigh on 3Q revenue.

    Note that Bitcoin trading volatility tanked to the level last seen over four years ago in August.

    The Mizuho analyst is, therefore, convinced that the Nasdaq-listed firm will come in about 10% shy of consensus estimate for revenue in its Q3. Coinbase shares are currently down 35% versus their year-to-date high.

    Coinbase shares have downside to $27

    Dan Dolev now forecasts Coinbase to report revenue in the range of $609 million to $652 million in its third financial quarter.

    That’s driven from a sharp decline in the platform’s average daily trading volume that stood at about $1.0 billion in the second quarter but had crashed to $665 million in September.

    The Mizuho analyst, therefore, maintained his “underweight” rating on Coinbase shares this morning. His $27 price target suggests a more than 60% downside from here.

    His bearish call on the stock arrives shortly after the crypto exchange said it had secured AML or Anti-Money Laundering registration with the Bank of Spain (find out more). Coinbase is the globally the largest holder of Bitcoin as per Arkham.

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  • Recently listed Bitcoin Depot reports record revenue for its Q2

    Recently listed Bitcoin Depot reports record revenue for its Q2

    bitcoin depot reports record revenue for q2
    • Bitcoin Depot reports an 18% annualised growth in its Q2 revenue.
    • The Bitcoin ATM operator also updated its full-year guidance today.
    • Bitcoin Depot stock is in the green only marginally on Monday.

    Bitcoin Depot Inc says its revenue jumped 18% to a record $197.5 million in the second quarter. The stock is still only marginally in the green at writing.

    Bitcoin Depot reports a big increase in loss

    Shares of the Bitcoin ATM operator are having a hard time this morning primarily because the Georgia-based company lost $6.1 million in its recently concluded quarter, down an alarming 249% versus last year.

    Its adjusted EBITDA, though, went up 54% to $19.8 million in Q2. Brandon Mintz – the Chief Executive of Bitcoin Depot said today in the press release:

    We’re in position to further strengthen our balance sheet as we execute on our growth strategy … we’re positioned to support mass crypto adoption as the leading Bitcoin ATM network.

    Note that the U.S. firm debuted on Nasdaq only last month on July 3rd.

    Bitcoin Depot’s guidance for the full year

    Bitcoin Depot had $20.5 million worth of total operating expenses in its second quarter – up significantly from $12 million a year ago.

    In Q2, the Nasdaq-listed firm partnered with a bunch of notable names including Stinker Stores, Jacksons Food Store, Gas Express, FastLane etc. According to CEO Mintz:

    We’ve announced multiple partnerships and expanded our BDCheckout program. We look forward to increasing the number of our Bitcoin access points across North America.

    Just days ago, he said the Bitcoin ATM space was ready for consolidation. Bitcoin Depot Inc now forecasts its revenue to grow by 8% to 13% this year on up to 44% increase in adjusted EBITDA.

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  • CleanSpark reports a 47% annualised growth in quarterly revenue

    CleanSpark reports a 47% annualised growth in quarterly revenue

    cleanspark q3 earnings report
    • CleanSpark narrowed its loss in its fiscal third quarter.
    • The bitcoin mining company had a blockbuster July.
    • CleanSpark shares are up over 150% YTD at writing.

    Bitcoin miner CleanSpark Inc is trading slightly up in extended hours after reporting a narrower-than-expected loss for its fiscal third quarter.

    CleanSpark Q3 financial highlights

    Lost $14.2 million versus the year-ago $29.3 million

    Per-share loss also narrowed from 40 cents to 12 cents

    Revenue jumped 47% year-on-year to $45.5 million

    Consensus was 17 cents loss on $45.7 million revenue

    Ended the quarter with $125 million of cash and bitcoin

    The bitcoin mining company now has assets worth more than liabilities on its balance sheet. Gary Vecchiarelli – the Chief Financial Officer of CleanSpark said today in the press release:

    I like the flexibility of our balance sheet and our operational performance. We have all pieces in place to extend our strong track record of growth and operational excellence.

    CleanSpark had a blockbuster July

    CleanSpark had its Georgia location go live in July that added more than 15,000 miners and 50 megawatts of power, as per the press release.

    The Nasdaq-listed firm trailed only Marathon Digital and Core Scientific in terms of the number of bitcoin mined last month. According to its CEO Zach Bradford:

    We have fully funded our growth to 16 EH/s, including miners, facilities, and other infrastructure. We continue to build on our track record of executing on commitments.

    The hash rate improved to 9 EH/s in its recently concluded quarter. At writing, shares of CleanSpark Inc are up more than 150% versus the start of 2023. Its peer Marathon Digital also reports its quarterly update earlier this week (read more).

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  • Block reports a 34% increase in its second-quarter Bitcoin revenue

    Block reports a 34% increase in its second-quarter Bitcoin revenue


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  • Should you buy Block stock on a boost to bitcoin revenue in Q1?

    Should you buy Block stock on a boost to bitcoin revenue in Q1?

    buy block stock bitcoin revenue q1
    • Block didn’t see an impairment loss on its bitcoin holdings in Q1.
    • Analysts at KeyBanc continue to see upside in its shares to $85.
    • Block stock is currently down about 5.0% versus the start of 2023.

    Block Inc says it did not see an impairment loss related to its bitcoin hoard in the first financial quarter. Shares are trading up in extended hours.

    Bitcoin price recovery helped

    The surge in BTC this year pushed the fintech company’s bitcoin revenue in Q1 to $2.16 billion – up 18% sequentially and a whopping 25% versus the same quarter last year.

    Gross profit from bitcoin holdings also increased 43% versus the previous quarter, as per its letter to shareholders. Block generated $770 million of total gross profit in its recently concluded quarter – up 16% on a year-over-year basis.

    The fair value of its position in bitcoin was $229 million as of March 31st versus the original purchase price of $220 million.

    Year-to-date, Block stock is down about 5.0% at writing.

    Should you buy Block stock now?

    Block ended the quarter with 20 million monthly active users on “Cash Card” – up 34%. Earlier this week, K33 analyst Vetle Lunde noted the similarity in how bitcoin is performing this year and how it recovered after the bear market of 2018-2019.

    If it continued on the same trajectory, he added, bitcoin could be worth as much as $45,000 in the coming weeks which could be a significant benefit to Block Inc both in terms of its financial performance as well as the share price.

    Those interested in buying Block stock today should also know that analysts at KeyBanc continue to see upside in it to $85 – up roughly 40% from here.

    Other notable bulls of the financial technology company include Cathie Wood – the Founder and Chief Executive of Ark Invest.

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  • Argo’s mining revenue fell nearly 28% in December 2022

    Argo’s mining revenue fell nearly 28% in December 2022

    • Argo Blockchain mined 147 bitcoins in December 2022, down from 198 in November.
    • Mining revenue was $2.49 million, compared to $3.46 million during the previous month.
    • Argo sold its Helios facility to Galaxy Digital for $65 million as it looked to avoid nose-diving into bankruptcy.

    Argo Blockchain, a leading Bitcoin miner that endured a terrible run in 2022 and came close to bankruptcy, has announced it mined 147 BTC only in December.

    The publicly-traded company’s total mined bitcoins for the month were lower than the 198 BTC mined in November — nearly 28% lower than its mining output in November.

    Mining revenue came in at $2.49 million (£2.07 million), down from $3.46 million (£2.94 million) in the previous month.  The firm’s mining margin in December 2022 was 48%, compared to 29% in November.

    As of 31 December, the miner held 141 bitcoins.

    Argo CEO on reduced mining results

    According to details provided in the miner’s operational update published on 11 January, the decline in mining revenue (decreased mined coins) was mainly a result of the reduced mining operations following the winter storm that hit the United States in December.

    Argo, like many other Texas Bitcoin miners, contributed to the stability of Texas’ power grid by cutting power usage during the storm.

    “While our mining results for December were lower than anticipated, the primary driver was the winter storm which led us to curtail operations at Helios. We made this decision in order to not only reduce power usage on the grid, but also to prioritise the needs of the local community and safety of our Helios employees, Argo CEO Peter Wall said in a statement.

    Notably, Argo sold its Helios facility for $65 million to Galaxy Digital and also agreed a $35 million loan as it sought to firm its balance sheet. But despite mining fewer BTC in December, and the sale of the Helios facility, Argo’s total hashrate remains around 2.5 exahashes per second (EH/s).

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