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$1B in revenue is insane. $1B in profits? For a company that is 11 years old 🤯 Coinbase’s earnings shocked the world earlier this week. Plus web3 VC is on a hot streak with ramped up deal count.

Here’s your final scroll for the week! Keep on Scrolling 🖤

• Coinbase sees $1B in profits in Q1 due to increased trading volumes according to their earnings report (YF)

• $4.8T asset manager Fidelity is showing Interest in crypto (WG)

• Jack Dorsey announces Block will be buying Bitcoin monthly (@BitcoinMagazine)

• BTC falls under $60K (F)

• BlackRock’s tokenized fund BUIDL hits $375M in AUM (TB)

• Sovereign Wealth Funds and Pensions could be the next institutional capital eying crypto, according to BlackRock (CD)

• Microstrategy is building a decentralized ID on BTC (D)

• Crypto has a tough week with Bitcoin sitting around $61.5k and Ether around $3k

• Ripple dedicates $40M for Dispersion Capital to invest into internet infrastrcuture (VOI)

• Matt Homer raises $5.1M for crypto fund, backed by the Winklevoss brothers (FTN)

• Securitize announces closing of $47M strategic raise from BlackRock (PRN)

• Holograph brings total funding to $11M (TD)

• MilkyWay, a Celestia staking tool, raises $5M from Polychain and Binance Labs (IO)

• Patriots Division secures $5M for web3 5v5 game, Shadow War (VB)

• Airstack closes $4M seed round led by Red Beard VC (@betashop)

• Arca, Blockchain Founders Fund, and Fabric VC co-lead cybersecurity startup, Resonance, $1.5M round (NFTG)

• Imaginary Ones, a web3 entertainment company, announced "significant” funding round (CN)

• Pantera announces “undisclosed” funding into The Open Network (TON) (CT)

• Haun Ventures is accelerating investments after recent announcement of $1.5B fund (TC)

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• US lawmakers introduce bill to clarify taxation of staking (TB)

• McHenry accuses SEC chief Gensler of misleading congress on ETH (CD)

• Gensler and SEC pressured by Reps Flood and Nickel to approve options trading for spot Bitcoin ETFs (AX)

• Klumi Ventures receives license to become first web3 venture capital fund to operate in UAE (WT)

• Losses from crypto hacks plunged 67% in April (M)

• FBI accuses Idin Dalpour of $43M multi-year ponzi scheme, including crypto trading operation (J.GOV)

• Pike Finance exploited for $1.6M for second incident in 3 days (M)

• Hundred Finance hacker moves funds 1 year after $7M exploit (M)

• A crypto exploiter utilized address poisoning to steal $68M (CD)

• Developer was awarded $250k by Curve Finance for finding vulnerability (CT)

• Complaints of fraud targeting older Americans rose 14% in 2023 (P)

• Another dormant ETH whale awakens after 8.8 years (U)

• Ethereum Naming Service petitions to stop patent from Unstoppable Domains (BLOCK)

• Michael Saylor predicts Ether will be deemed security (CS)

• Tether nets record $4.5B in profit in Q1 2024 (M)

• Hong Kong crypto ETFs trade $200M on Day 1 (CT)

• MoonPay teams up with Paypal to make buying crypto easier (CD)

• NFT sales have dropped 31% in the last month (NB)

• FriendTech token has declined 90%+ due to token claim issues (BLOCK)

• Former FTX Europe executive is on a multi-million dollar spending spree (DT)

• MicroStrategy is building a ‘Decentralized ID’ protocol on Bitcoin (DT)

• Logos inscribed its manifesto in ~ 4MB block, largest block recorded (BLOCK)

• Bitcoin miners monthly revenue spikes during halving (NB)

• A complete guide to blockchain bounty programs (BMG)

• Fred Wilson adds a new series of his AVC blog on-chain (AVC)

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