Headlines

Robinhood prediction markets drive $1.31B quarter

Robinhood Markets reported record second-quarter revenue on July 29, as growth in event contracts, options and equities offset another decline in cryptocurrency trading. Summary Robinhood’s Q2 revenue rose 32% to a record $1.31 billion, while net income climbed 48%. Event contract revenue reached $156 million, rising more than 10x and overtaking cryptocurrency transaction revenue. Crypto…

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DOJ Indicts Crypto Investor Over Alleged $20 Million Fraud Targeting Dozens of Victims – Bitcoin News

Key Takeaways Federal prosecutors allege a crypto investment scheme caused about $20 million in investor losses. The 29-count indictment includes wire fraud, money laundering, bank fraud, and identity theft charges. Prosecutors allege investor funds moved through cryptocurrency exchanges and financial institutions. Federal Indictment Alleges $20 Million Investment Scheme The U.S. Attorney’s Office for the District…

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Why transaction counts tell you almost nothing

Every chain announcement leads with a transaction number. On a network charging $0.0002, 1 million transactions represents $200 of economic activity and a weekend of testing. The metric that headlines every milestone is the one that survives the least scrutiny, and the analytics platforms already know it. Summary Transaction counts are the most-cited blockchain metric…

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Jeff Bezos Says Custom Chips Could Become Amazon’s Next Major Business

Amazon built AWS into the backbone of its business. Jeff Bezos believes custom computer chips could become its next major pillar. The Amazon founder told Fortune that the company’s silicon operation, which produces Trainium AI accelerators and Graviton processors, is developing into an enduring business alongside Marketplace, Prime, and AWS. The chips are also central…

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