According to BBX data, last weekend Gemini and BlackRock released Q1 data, with the following core dynamics:
Gemini (NASDAQ: GEMI): Q1 revenue of $50.3 million (+42%, exceeding expectations), EPS -$0.93 (better than -$1.03); $100 million BTC strategic investment (1,258 BTC, $14/share); credit card +300%, CFTC DCO license; +17% on May 15.
Coinbase (NASDAQ: COIN): -7.6% on May 15 (CLARITY Act sell-off, Polymarket 59%, Warsh Fed uncertainty, Form 144); data security costs of $180-400M hanging.
BlackRock (NYSE: BLK) IBIT: Mubadala Q1 13F (disclosed on May 16): IBIT holding of 14.7 million shares worth $566 million (+16%), over $500 million for three consecutive quarters; Al Warda holds another $408 million, with a combined peak of over $1 billion.
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