Cryptocurrency
Block plunges 20% as Cash App miss triggers downgrades
Block shares were on track for their second-worst day Friday, plunging more than 20% as investors digested a brutal quarterly report and a wave of analyst downgrades centered on one issue: Cash App. The first-quarter earnings miss rattled Wall Street, prompting multiple firms — including Wells Fargo, Seaport, BMO, and Benchmark — to downgrade the […]
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Venmo gaining ground in payments as Cash App struggles
In the increasingly crowded market for peer-to-peer payments, Venmo is showing momentum while Cash App has hit a rough patch. The parents of both businesses reported quarterly results this week. PayPal, which owns Venmo, reported an earnings beat and kept its forecast for the year. Block, meanwhile, plummeted in extended trading on Thursday after the […]
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Block shares plunge 18% as company takes ‘cautious stance,’ issues weak guidance for year
Block reported first-quarter results that missed Wall Street expectations on Thursday and issued a disappointing outlook. The stock tumbled 15% in extended trading. Here is how the company did, compared to analysts’ consensus estimates from LSEG. Earnings per share: 56 cents adjusted. That figure may not be comparable to estimates. Revenue: $5.77 billion vs. $6.2 […]
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Trump rewrites crypto rules in first 100 days, industry celebrates ‘180 pivot’ from Biden years
People walk past an advertisement feature Donald Trump with Bitcoin in Hong Kong. May James | Lightrocket | Getty Images As President Donald Trump hit the 100-day mark this week for his second term in office, his approval numbers were lower than for any administration at this point in over seven decades. Don’t tell that […]
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The changing nature of crypto trading, according to Kraken’s co-CEO
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Dave Ripley, co-CEO of Kraken, one of the world’s biggest cryptocurrency exchanges talks to CNBC’s Arjun Kharpal about the volatility in crypto markets, what President Donald Trump means for the industry and what new regulation in the U.S. could mean for global […]
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Britain at risk of losing ground to rival fintech and crypto hubs, execs warn
Key Points Britain is at risk of losing budding fintech and cryptocurrency entrepreneurs to rival hubs if it doesn’t work to address pressing challenges with regulation and funding, industry leaders say. The country’s finance watchdog has faced criticisms that it’s become too restrictive of companies seeking to shake up the financial services landscape with digital […]
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Shift4 shares surge 11% on earnings beat as fintech stocks climb on results and upgrades
Jared Isaacman, CEO of Shift4 Payments, at the New York Stock Exchange on June 3, 2021. Source: NYSE Fintech stocks were in focus Tuesday as fresh earnings reports and analyst notes drove sharp reactions across the sector. Shift4 Payments and Upstart Holdings surged following upbeat news, while PayPal shares were slightly higher despite delivering a […]
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UK announces draft rules for crypto industry, touts greater collaboration with U.S.
Key Points U.K. Finance Minister Rachel Reeves on Tuesday announced plans for a “comprehensive regulatory regime for crypto assets.” The U.K.’s Treasury published draft rules aimed at bringing crypto exchanges, dealers and agents into the regulatory fold. Reeves said that the the U.K. planned to deepen regulatory cooperation with the U.S. to boost “responsible” adoption […]
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PayPal reports first-quarter earnings beat, maintains forecast
CEO of PayPal Alex Chriss speaks during the Semafor 2025 World Economy Summit at Conrad Washington on April 24, 2025 in Washington, DC. Alex Wong | Getty Images PayPal reported better-than-expected earnings for the first quarter, but the company missed on revenue and reaffirmed its guidance for 2025 due to macro uncertainty. The stock fell […]
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Venmo revenue grows 20%, with debit card payment volume soaring
Justin Sullivan | Getty Images Venmo, long a centerpiece of PayPal‘s growth story but often criticized for its lack of monetization, is becoming a bigger contributor to the business. PayPal said Tuesday in its first-quarter earnings release that revenue at Venmo increased 20% year-over-year in the first quarter, though the company didn’t provide a dollar […]
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