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Canaan Inc. (NASDAQ: CAN) will report its Q2 2024 financial results on August 15, 2024, before the U.S. market opens, according to PRNewswire. (Read More)
NVIDIA announces record Q2 fiscal 2025 revenue, driven by strong demand in data centers and significant growth in earnings per share. (Read More)
BitMEX has updated the Mark Method for DOGSUSDTQ24 to Fair Price marking, effective August 27, 2024, enhancing price accuracy. (Read More)
BitFuFu expands its mining capacity by over 60% despite a dramatic rise in Bitcoin mining costs post-halving.
Marathon Digital's Q2 2024 revenue increased by 78% to $145.1M, but the company reported a net loss of $199.7M due to fair market value adjustments. (Read More)
Canaan Inc. (NASDAQ: CAN) reports robust Q2 2024 financial results with significant revenue growth and improved profitability. (Read More)
Exodus operating revenue in Q2 2024 was primarily driven by the wallets exchange aggregation service, which netted $19.9 million.
Stellar (XLM) Development Foundation's Q2 2024 report highlights significant growth in network addresses, asset tokenization, and Soroban smart contracts. (Read More)
NVIDIA schedules a conference call for August 28 to discuss its Q2 2025 financial results, with CFO commentary available ahead of the call. (Read More)
Robinhood Markets, Inc. (NASDAQ: HOOD) will announce its Q2 2024 financial results on August 7, 2024, with an earnings call scheduled for the same day. (Read More)
AlthoughBitget is not the largest cryptocurrency exchange in terms of total volumes, itclosed a favorable quarter. From April to June, the platform ranked third innet capital inflow and showed the strongest market share growth compared to itscompetitors.
Investorstransferred $700 million to Bitget in the second quarter, and activity on theplatform increased by nearly 50%.
Bitget Reports $700MCapital Inflow and 50% Traffic Surge in Q2 2024
Theexchange experienced a surge in user funds, with Bitcoin (BTC), Tether (USDT),and Ethereum (ETH) holdings increasing by 73%, 80%, and 153%, respectively,over the first six months of the year. This growth coincided with theaddition of 2.9 million new users to the platform.
This placedBitget among the top exchanges with the highest net positive inflows in thepast quarter. Only Binance, which remains the market leader, and Bitfinexachieved better results in this category.
Glad to share our achievements with you! Bitget is ranked top 3 in terms of capital inflow in Q2! pic.twitter.com/UzxthwC4D8
Gracy Chen @Bitget (@GracyBitget) July 9, 2024Accordingto CCData's latest H2 Outlook Report, the exchange also reported the largestmarket share growth among centralized exchanges, increasing by 38.4% from H22023 to H1 2024.
Bitget'sspot trading volume saw a visible uptick too, rising from $28 billion in Q1 to$32 billion in Q2, marking an increase of over 10%. The platform'smonthly visitors reached 10 million. Although its volumes are increasing, Bitget still does not rank amongthe top 10 cryptocurrency exchanges in terms of spot trading.
The changes occurring in the centralized cryptocurrency exchange market show that competition is becoming increasingly intense. An example of this is the recent surge in popularity of Bybit, which has become the second-largest exchange in terms of spot trading volumes.
Sport Sponsorships and NewProducts
Gracy Chen,CEO of Bitget, commented on the quarter's performance, stating, "Q2 2024has been a pivotal period for Bitget. Our collaboration with Turkish athletesalong with significant growth in users and website traffic is a part of ourglobal expansion."
In a moveto expand its global presence, Bitgetpartnered with three Turkish national athletes as part of its #MakeItCountcampaign, featuring Lionel Messi. The agreement with famous footballer wassigned back in February, to build a brand presence in Latin America.
Theexchange also launched a $20 million TON Ecosystem Fund in collaboration withForesight Ventures to support early-stage projects on The Open Network.
Theexchange introduced two new initial token listing products, PoolX andPre-market, which collectively launched over 100 projects. What is more, Bitget'snative token, BGB, was recognized as the best-performing centralized exchangetoken in June and was ranked in the top 10 cryptocurrencies by Forbes.
In itslatest move, the cryptocurrency exchange aimed to become a regulated player in India.This announcement comes as the most populous democracy grapples with thecomplexities of integrating cryptocurrencies into its financial ecosystem.
Also recently,Bitget Wallet announced a joint investment with the crypto investment firmForesight X in Tomarket, a decentralized trading platform. This venture targetsemerging asset classes and aims to expand the wallet's services beyondtraditional decentralized exchanges (DEXs).
This article was written by Damian Chmiel at www.financemagnates.com.
The exchange reported that its BTC, USDT and ETH holdings grew by at least 70%, highlighting a $700 million capital inflow for the quarter.
The Q2 2024 crypto market saw Bitcoin halving and record activity on Ethereum, despite declines in major indices, according to Bitwise Investments. (Read More)
Cryptocurrency theft escalated dramatically in the secondquarter, with losses from hacks and scams soaring by 112% to a staggering $572million, the latest data revealed. This sharp increase followed a period ofdecline, highlighting a troubling resurgence in malicious activities targetingthe crypto community, especially centralized exchanges.
Escalating Crypto Losses
Immunefi, an on-chain crowdsourced security platform,reported that the total losses amounted to $572,688,861, marking a significantrise from the $265,481,519 lost in the second quarter of last year. Centralizedexchanges were the main victims, reversing the previous trend of declininglosses.
The majority of the losses resulted from two majorincidents. DMM Bitcoin, a Japanese crypto exchange, suffered a colossal $305million loss, while Turkeys largest cryptocurrency exchange, BtcTurk, reporteda $55 million loss. These two events alone accounted for 62.8% of the totallosses in Q2.
Hacks continued to dominate as the primary cause ofcrypto losses. Out of the total $572,688,861 lost, $564,238,811 resulted fromhacks across 53 incidents, representing a 155% increase compared to the sameperiod last year. Fraud, including scams and rug pulls, accounted for a smallerportion, with $8,450,050 lost across 19 incidents. This represents an 81%decrease from the same period of last year.
Centralized Finance (CeFi) platforms were the maintargets, suffering 70% of the total losses, while Decentralized Finance (DeFi)platforms accounted for the remaining 30%. CeFi platforms experienced astaggering 984% increase in losses, with $401,400,000 lost across fiveincidents. In contrast, DeFi platforms saw a 25% decrease, with losses totaling$171,288,861 across 62 incidents.
Most Targeted Blockchains
Among the most targeted blockchains, Ethereum and BNBChain were the most targeted blockchain networks in Q2 2024. Ethereum faced 34incidents, representing 46.6% of the total losses, while BNB Chain witnessed 18incidents, accounting for 24.7% of the losses. Other chains, such as Arbitrum,Polygon, Solana, and Fantom, experienced fewer attacks but still contributed tothe overall losses.
Despite the high volume of losses, there were somesuccesses in recovering stolen funds. Approximately $26,736,000, or 5% of thetotal losses, was recovered in Q2 2024, a slight improvement from the 3.9%recovery rate in Q2 2023. This indicates progress in tracking and reclaimingstolen assets, although challenges remain.
This article was written by Jared Kirui at www.financemagnates.com.
Losses from scams and exploits increased in the second quarter as centralized exchanges lost millions, reversing a previous downtrend.
BitMEX has introduced its new monthly Bitcoin futures contract, XBTQ24, offering up to 100x leverage, now available for trading. (Read More)
BitMEX announces the listing of a new XBTQ24 futures contract, margined in Bitcoin, set to go live on June 25, 2024. (Read More)
Microsoft and Googles Q2 earnings reports highlight significant revenue and profit increases driven by their investments and advancements in AI technologies.
Over $204 million was lost in decentralized finance (DeFi) hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi. The report, titled “Q2 De.Fi Rekt Report,” was partially based on data from De.Fi’s “Rekt Database.” Over $208.5 million was initially lost during the quarter, but [...]
The post Over $204M was lost in Q2 DeFi hacks and scams: Report appeared first on Crypto Breaking News.
Meta’s metaverse-related losses topped $3.74 billion over the second quarter with the Big Tech player spending $7.7 billion on its virtual reality business so far in 2023. Its second-quarter results released on July 26 saw Meta report an 11% revenue gain compared to the previous year, totaling $31.9 billion. Its metaverse-focused Reality Labs revenue topped $276 million. [...]
The post Meta Q2 earnings: Reality Labs losses top $7.7B year to date appeared first on Crypto Breaking News.
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