Public Keys: Coinbase’s Convertible, Core Combo Fight and Block’s Bitcoin Play

Public keys are a weekly review of Decipher This is accompanied by key public trade crypto companies.

Coinbase convertible lift

Crypto Exchange Coinbase raises some money –Only $ 2 billion– In convertible notes.

Of course, we hear a lot of things like that when they are Bitcoin and Ethereum coffers. But the company based in San Francisco said that this increase would be used for “general corporate purposes” and “acquisition of other companies, products or technology.”

The announcement landed immediately after some analysts (It’s not all), decided they didn’t like the look of that 25% of revenue drop in Q2.

Compass Point has moved a coin from Neutral for sale of a column, saying that the failure of revenue is a confirmation that trading business in retail “decentralized exchange and ETF” interfere “.

This could help explain why only Coinbase Took out decentralized exchange trading In their app for their US users.

However, more worrying, it was the fact that the subscriptions and services had no longer contributed, analysts said. It is the line of the line that covers membership in the Premium Coinbase One, Stabeco’s income, investment and detention services.

With the presidential ink dry on stabibloin by regulating An ingenious act,, Circle of USDC publishers A few months in their mandate as a public trading company (remember, have a revenue division agreement) and spread Digital assets– Analysts expected that segment to exceed.

Core Combo struggle

One of the best investors Bitcoin Miner Core Scientific wants cut music on Core Fusion Dance.

Two Seas Capital, the largest active shareholder Core Scientific with a 6.3% share, intends to vote against sales of $ 9 billion in Coreweave, saying UA a statement Thursday that the offer represents an “inadequate assessment”.

The company said he had established such a major proportion in basic scientific scientific because he believes that he is a strong candidate for the construction of “critical computer infrastructure of high performance in proportion”-Infrastructure is very necessary for the supply of artificial intelligence.

Two seas, which is also an investor in Coreweave, said the structure of the contract of the Corz contract is to investors and leave them with the absorbing volatility from CRWV.

“In our opinion, the transaction decisively and unfairly favored Coreweava to the detriment of basic scientific shareholders,” added the company, making the Committee not a fun offer of other courtiers.

The vote is not yet scheduled, but it is expected to happen before the end of the year.

Meanwhile, Core Scientific reported to his q2 earnings after the bell on Friday. But there were too many potential fries to connect to the real call of earnings.

“Due to waiting with Coreweave, Inc., which was previously announced on July 7, 2025, the company will not host a conference call or webst to discuss the results of its fiscal year in the second quarter of 2025″, ” The company said.

Block Bitcoin Hearts

Block Inc. added 108 bitcoin In their corporate stakes in Q2, bringing its total corporate stakes to 8,692 BTC – about $ 1 billion at the current price was recorded.

Keep in mind that Block Director Jack Dorsey was a fan of bitcoin because they are the earliest days. It should not be a surprise that the company shortens its own BTC treasury.

With an average cost of $ 31,248 per BTC, the company sat on paper of 273.29%. But the more interesting data dot comes from Bitcoin that the company sold – but not its own.

Block Inc. It allows people to buy Bitcoin through its very popular monetary app. And from $ 6 billion in revenue the company saw in Q2, $ 2.14 billion from it was realized precisely from Bitcoin’s sale in the application.

That revenue from bitcoin shows only a slight slowdown from Q1, when the company reported $ 2.3 billion in revenue from Bitcoin. If block Inc. He wants to see his revenue from Bitcoin 2025 last year, he will have to see things that are strongly raised in the back half of the year.

In 2024. The Block reported for the Bitcoin revenue worth $ 10.2 billion for the whole year – which means it is now lagging behind that mark.

But Dorsey had the promises of another Bitcoin News during yesterday’s earnings: “We’ll have some news very, very quickly,” he said about ProtoBitcoin mining initiative.

And, wouldn’t you hit that, proto has a locked contract Sell their Bitcoin mining chips to anyone else but a fundamental scientific in one of the largest Asic agreements ever signed.

Other keys

Bullish makes that official: Cryptocurrency bullish formally registered His initial public offer with SEC, with the aim of raising $ 629 million with an estimate of between $ 3.8 and $ 4.2 billion. This will be the second attempt at the company in public, after renunciation of merging spac 2022.

Purchase of salt: When Alts inhale, the cashiers focus their cash registers. Defic Dev Corp bought Solana worth $ 18 million On Monday, he brought his total shares to 1.23 million salt.