Crypto
Coinbase rebounds after earnings miss and aws outage
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Coinbase shares recovered 10 percent from session lows on Friday following a weaker-than-expected first-quarter report and a multi-hour trading outage tied to Amazon Web Services failures. Bitcoin held above $80,000 while several altcoins posted gains of 5 to 12 percent.
Strike CEO Jack Mallers has rejected the notion that Wall Street endangers Bitcoin. He described the digital asset as money for all and insisted it must stay open and accessible to succeed.
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SEC Chair Paul Atkins proposed a limited innovation pathway for on-chain trading systems during a May 8 speech. The approach draws from the agency's 1990s handling of electronic markets and aims to provide conditional access before permanent rules are set.
European Central Bank President Christine Lagarde cautioned against promoting privately issued euro-pegged stablecoins during a speech on Friday. She urged Europe to focus on central bank-backed infrastructure instead.
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Bitcoin stayed above 80,000 dollars on Friday while altcoins led gains across crypto markets. Coinbase shares recovered 10 percent from session lows after the exchange reported a quarterly loss.
Bitcoin briefly fell below $80,000 on Thursday as analysts noted rising profit taking among traders. The move came despite recent technical signals pointing to potential upward momentum.
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XRP retreated from recent gains as it consolidated near $1.41 following a cross-border tokenized U.S. Treasuries transaction on the XRP Ledger. The move occurred even as Ripple advanced institutional use cases with major partners.
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