Crypto Giants: Coinbase's Big Win, IBIT's Slip, and REX's Bold Move

Coinbase's Stellar Performance

Revenue:

• Nearly $1.9 billion in Q3 revenue
• Significant recovery from earlier slumps

Key Highlights:

• Increased trading volumes
• Profits from staking and custody services
• Ethereum Layer 2 project, Base, already profitable

Expansion:

• Adding thousands of new assets for investors
• Risks: Complex products like perpetual futures

Bitcoin ETFs Face Volatility

Market Impact:

• Bitcoin price drops below $110,000
• BlackRock's IBIT:
• Lost nearly $291 million in a single day
• Still holds over $88 billion in assets
• Volatility: Highlights rapid market changes

REX Shares Introduces ULTI ETF

Features:

• Focuses on volatile stocks, including crypto-related companies
• Examples: Core Scientific, Gemini
• Uses options to generate regular payouts

Investor Appeal:

• Combines crypto exposure with steady income
• Another example of Wall Street's innovation in crypto products

Core Scientific's Merger Falls Through

Details:

• Merger with CoreWeave canceled
• Investors backed out, highlighting risks in crypto deals