Every decision we make returns to one principle. We will build the best possible experience for you. So we’re proud to announce it Silkworm ranked Kraken as the No. 1 global crypto exchange in 2025 – This is the first-ever top finish, and has steadily risen from third place in the first quarter of 2025 to #2 in the second quarter of 2025.

This perception is more than where we stand now. That’s about how we got here. Listen to our clients, strengthen our infrastructure and drive the industry forward with transparency and trust.

First of all, who is the silkworm?

Kaiko is one of the world’s leading providers of digital asset market data. Quarterly Exchange Ranking Methodology evaluates global trading venues across a wide range of criteria, including governance, security, technology, liquidity, business and data quality. The rankings are widely held institutions, regulators and market participants, making them a meaningful benchmark for exchange quality and reliability.

Climb #1: What the rankings reveal

Kaiko’s top position in the third quarter 2025 rankings highlights the categories that Kraken continues to lead.

safety

Kraken won 100. This is a 6 points higher than any other exchange with the highest possible security score. This reflects an uncompromising approach to asset protection, robust custody regimes and industry-leading safeguards. Our clients trust us with their financial freedom and we take that responsibility seriously.

Data Quality

Accuracy, timeliness and transparency are essential to a client’s confidence. We regularly publish proofs of bookings, and real-time data feeds give traders and institutions unparalleled clarity.

Fluidity

Deep purchase orders and tough spreads will make your execution smoother at the price you want. Our liquidity ensures that clients, from everyday traders to global institutions, can trade with efficiency and confidence.

The strength of business

From product range to executive leadership, our business fundamentals continue to be strong. This reflects both our innovative spirit and our strong foundation, allowing us to continue offering for our clients.

Together, these pillars strengthen what is most important. Build a major platform that clients can rely on every day.

Based on all client-first philosophy

That’s because all high marks lead to simple truth: client Deserves A platform they can rely on.

• Security means peace of mind
• Data quality means trust in every transaction
• Liquidity means fairness and efficiency
• Business strengths mean innovation in the long term

These are not abstract metrics. They are the living experiences of Kraken clients.

“Reaching #1 is a powerful milestone, but that’s just the beginning. A score of 100 in security shows that client protection is always our top non-negotiable priority.”

“When you combine it with deep fluidity, transparent data and relentless innovation, it builds more than exchange. It builds trust. That’s what Kraken represents, and that’s how it continues to accelerate the global adoption of crypto.”

#1 better build from spot

Our rapid rise from Kaiko’s rankings is evidence that prioritizing our clients will drive sustainable growth. It validates the vision of a transparent, resilient, and accessible cryptographic ecosystem.

We are proud to be leading the industry in 2025. But even more importantly, I’m excited about what’s coming next. It’s about raising the bar for the client experience, building new products and expanding global access to crypto.

In Kraken, #1 is not the finish line. It is the foundation of the future.

Japan is sitting $14.9 trillion In domestic financial assets, its bond markets offer some of the lowest returns in developed countries. 10 years of Japanese government bonds are just harvested ~1%and corporate bonds often have a hard time clearing 2%. For decades, pension funds, insurance companies and banks have been locked in low-turn allocations simply because they had no compliant and familiar options.

Metaplanet’s second quarter earnings announcement aims directly at this gap. The company announced:

• “Metaplanet is Plays” – A Bitcoin Support Preferred Stock Program designed to expand the operations of the Bitcoin Ministry of Finance.
• Plans to build a yield curve for Bitcoin support Japanese bond market.

In markets that even “high yields” mean low single digits, 7-12% are provided with well-structured Bitcoin-assisted preferred stocks to provide serious attention and serious capital.

Record Q2 Growth Fuel Bitcoin Support Priority Share Strategy

Metaplanet’s second quarter not only unveiled a new funding model, but also provided one of the most powerful quarters in the company’s history. Both revenue and profitability have skyrocketed, but assets and net assets have increased, highlighting the size currently operating.

Metaplanet Q2 Revenue Results:

• Revenue: ¥1.239B ($84 million) +41%
• Gross profit: ¥816m ($5.5 million) +38%
• Normal benefits: ¥17.4b ($117.8m) vs ¥6.9b
• Net profit: ¥11.1.B ($75.1M) vs ¥5.0B
• assets: ¥238.2b ($1.61b) +333%
• Net worth: ¥201.0b ($13.6 billion) + 299%

This surge in financial performance will strengthen Metaplanet’s reliability with investors and use its momentum to deploy Bitcoin-backed preferred stocks on a large scale to gain shares in Japan’s vast but yielding bond market.

BTC-backed priority equity: How Metaplanet Play Works

Preferred shares are between obligations and common stock in the company’s capital structure. Provides dividend priorities, higher liquidation claims and predictable payments.

Metaplanet Bitcoin-backed preferred stocks It is designed as follows:

• It offers significantly higher yields than JGB, while retaining a format familiar to Japanese institutions.
• Avoid refinancing risks related to the maturity of your obligation.
• Diversify funding sources for BTC accumulation beyond the issuance of Common Equity.

Precedent: Multiclass stack of strategies

Strategy (previous micro-strategy) It already shows what is possible. The company has built a stack of Bitcoin-backed priority equity classes.

• A low volatility, income-focused class for conservative buyers.
• Convertible priority combining bonds and BTC upside down.
• A high yield class aimed at risk-resistant investors.

By matching each issue to market demand, the strategy has raised billions and has increased its Bitcoin holdings more than 500,000 BTC– Without relying solely on general stock dilution.

Metaplanet incorporates the same multi-class concept into a market where preferred stock issuance is rare, investor bases are yielded, and Bitcoin-backed preferred stocks can see rapid adoption.

Japan’s capital market: $14.9 trillion opportunities

Japan’s bond market faces decades of zero yields, with fewer options to generate income, leaving trillions in capital. This rarity makes it uniquely prepared for high-yield devices like Bitcoin-backed preferred stocks.

Japan’s household financial assets collapse as follows:

• $9.5 trillion Bonds
• $6.8 trillion In stocks
• $7.6 trillion Cash and deposits

The preferred stock market listed is exactly what $2.7 billion– Less than 0.02% of total financial assets. However, the demand for stable, revenue-oriented products is immeasurable.

The gaps are as follows: 8% Offer 8x 10-year JGB return and 4x most luxury corporate bonds return. In a familiar structure that complies with regulations, its spread can attract both domestic institutions and retail allocators looking for yields without leaving the bond universe.

Engineering Bitcoin Support Yield Curve

Metaplanet plans to issue multiple classes of Bitcoin Support Priority Shares.

• Short-term variable dividends forever It is pinned in a short-term JGB spread for conservative buyers.
• Medium Duration Variable Dividend Permanent As a medium-distance corporate credit alternative.
• Senior fixed dividend perpetual (Class A) For long-term portfolios focused on stability.
• Fixed dividend convertible (Class B) Combine predictable revenue with BTC’s upside potential.
• High yield fixed dividends forever For investors willing to take on more risk in exchange for higher returns.

This is not just a product lineup, it is a construction of an investable BTC-backed yield curve. Strategies built in the US. Metaplanet does the same thing in Japan, but with the added tailwind of the market, the yield is desperate.

Impact on corporate Bitcoin strategies

Metaplanet’s approach offers corporate strategists three distinct takeaways.

• Capital efficiency: Bitcoin-backed preferred stocks acquire capital that acquires yield capital to the Ministry of Finance without relying on a common stock. They provide permanent capital without the same maturity constraint as debt.
• Market Compliance: The strategy was successful in the US, where convertible debt and equity rise, as their markets are deeply and liquid. The norms of Japan’s capital structure are different, with Metaplanet adapting its playbook to local investor behavior. This is an important step in hiring.
• Justification of Bitcoin as collateral: With each Bitcoin-backed preferred stock issue that finds a regulated yield-hungry portfolio home, we abandon Bitcoin recognition as speculative only. Normalised in one major economy makes it easier to replicate other major economies.

The big picture: Bitcoin bond age

Metaplanet’s Q2 announcement serves as a blueprint for how Bitcoin is integrated into domestic capital markets.

By combining a proven capital structure model with one of the world’s most harvest-limiting environments, Metaplanet positions Bitcoin as the legitimate and income-generating collateral base for sovereign scale bond markets.

If they succeed, Japan’s first Bitcoin support priority sharing program will not be the last. A case study of the beginning of the Bitcoin bond age and how companies’ Bitcoin strategies evolve could mark them fit the market they enter.

Disclaimer: This content was written on behalf of Bitcoin for businesses. This article is for informational purposes only and should not be construed as an invitation or solicitation to acquire, purchase, or subscribe to a security.

JPMorgan Chase, Citi and Wells Fargo say they’ve lost $5.361 billion from customers who can no longer pay their debt.

In their Q2 2025 earnings reports, the three major banks disclosed billions of dollars in losses from “net charge-offs” — loans written off as uncollectible after all efforts to recover payments proved unsuccessful.

Among the trio, JPMorgan Chase reported the highest level of charge-offs at $2.4 billion, predominantly driven by bad credit card debt.

Meanwhile, Citi wiped $2.234 billion in bad loans off its books, including $1.889 billion tied to its retail credit card portfolio.

And Wells Fargo recorded $977 million in net charge-offs, fueled by $818 million in sour loans from its consumer banking and lending segment.

The figures come as fresh data from the Federal Reserve Bank of New York shows that US credit card balances reached $1.18 trillion by the end of March 2025.

Despite the losses, Citi reported a $225 million decline in net credit losses quarter-over-quarter, and Wells Fargo saw a $12 million decrease in net charge-offs over the same period. However, JPMorgan witnessed an increase of at $179 million in net charge-offs over the three-month period.

Additionally, the three banks reported strong earnings in Q2, with JPMorgan, Citi and Wells Fargo generating $15 billion, $4 billion and $5.5 billion in net income, respectively.

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Q2 2025 sent a decisive message: After the turbulent phase, Crypto has returned to the top! The cryptocurrency sector has posted a robust 21.72% return, surpassing all major US equity indices by wide margins.

The crypto market has left US stocks in the dust. According to 99Bitcoins Q2 2025 Crypto Market Report It was released on July 10, 2025 “Most US equity indexes were under 15% in quarterly (QTD) earnings, with only the S&P 500 information technology sector rising 18.4%. The broader S&P 500 was just 7.37%.

Interestingly, the crypto industry fell 18% in the first quarter of 2025. Therefore, the second quarter rebound is a significant recovery. Cryptocurrency profits for the second quarter of 2025 outperformed performance in the past few years, falling 14.44% in the second quarter of 2024.

Discover: 9+ Best High Risk, High Reward Crypto Buy in July 2025

So, what has helped drive Crypto’s outperformance?

Why did it help drive Bitcoin domination to 63% over four years? The interest of institutional investors stood out. Retailers shifted their focus to Altcoins, but the institutions favored Bitcoin.

Investors’ interest in Crypto was featured in the second quarter, according to a 99bitcoins report. “In April, blockchain-related mentions in SEC filing reached a record high of 5,830, perhaps due to the Trump administration’s pro-cryptic approach,” the report said.

Additionally, the US government has passed major laws and executive orders that provide much needed regulatory clarity and broadly support the crypto market. In particular, the removal of IRS reporting rules for the Defi platform and relaxed requirements for banks engaged in cryptographic activities has boosted confidence across the sector.

After hitting lows in March 2025, Crypto Fear and greedy indicators rebounded into the “greedy” territory for over 60 days, supported by positive policy signals.

Just yesterday, Bitcoin (the world’s most valuable code was pushed over $117,000, and buyers stepped in today, lifting BTC ▲6.76% to an all-time high of $118,409. The fear and greedy index from 99 Bitcoin shows a read of “67”.

Read more: Bitcoin hits ATH without FOMO, Bitcoin Hyper raises $2.3 million

Chris Wright, Head of Global Marketing at 21Shares, shows the weight. “This will result in a net inflow of about $55 billion in 2025, representing an increase of about $20 billion year-on-year. If this trend continues, the total assets under management will be doubled, exceeding the current $110 billion, and more than doubled by the end of the year.”

Stablecoins steal spotlight

Job openings in the Web3 sector suddenly increased in June 2025. Ripple, Arbitrum Foundation, Stellar and Ava Labs are one of the companies that actively employ a variety of roles, and OKX and Kraken announced the expansion of their web3 teams. “This type of employment is typical in bull markets and reflects a strong belief in the industry’s growth potential,” the report states.

However, Stablecoins have led to demand across the sector. According to the report, 81% of SMBs (SMBs) who are familiar with Crypto are interested in using Stablecoins for their daily operations.

Additionally, the number of Fortune 500 companies planning to use Stablecoins has been a triple since 2024.

The circle’s successful IPA – if the company’s stock price rises 168% on its debut, it is evidence of Stablecoin-related appetite and exposure.

Discover: 16 Next Cryptocurrency Explosions in 2025: Experts’ Cryptocurrency Prediction and Analysis

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These changes took place alongside relatively muted price action, as Bitcoin hovered between $101,000 and $110,000 throughout June before stabilizing near $107,000 at the beginning of July.

While the reduction in futures and options OI might suggest waning investor interest, a closer look at the data indicates strategic de-risking and rotation into new quarterly positioning rather than outright bearish conviction.

Bitcoin futures open interest started June near $72.5 billion and peaked at $77.7 billion on June 10, right alongside Bitcoin’s monthly high of $110,200. This climb shows a short-lived increase in speculative exposure as traders positioned for further upside after the rally in May.

However, optimism faded quickly, and the market experienced a sharp downside wick on June 15. This pushed Bitcoin below $104,000 in a matter of minutes, triggering a wave of long liquidations. Total futures OI plunged to $69.6 billion (a 10% drop in five days), while spot prices declined around 4%. This marked the first major deleveraging of the month and revealed the fragility of overextended long positions.

A similar pattern followed on June 23 as geopolitical tensions in the Middle East prompted risk-off flows. Bitcoin briefly dropped below $102,000, and futures OI fell again, this time from $72.9 billion to $68.3 billion. The reaction wasn’t as sharp as mid-month, but it showed how sensitive leveraged traders are to macro events. Binance’s share of open interest remained steady between $11.3 billion and $12.3 billion, implying that the largest swings came from offshore venues and CME.

Even as prices recovered toward $107,000 by the end of the month, OI never returned to its early June highs. By July 2, total futures OI stood at $69.5 billion, down roughly 10% from the June peak. This drop in leverage despite price stability indicates we now have a structurally “cleaner” market that’s less prone to forced liquidation cascades.

In contrast to the zigzagging futures landscape, Bitcoin options open interest steadily climbed throughout most of June, rising from $38.2 billion on June 1 to a record $51.1 billion by June 27. This reflected an active environment for options structuring, driven in part by the quarterly expiry of Deribit and CME contracts scheduled for the last trading days of Q2.

On June 28, nearly 40% of all outstanding options contracts expired. Deribit alone saw 141,000 BTC in notional exposure roll off its books. Bitcoin’s options OI dropped from $51.1 billion to $35.2 billion in a single day, a 31% reduction. However, despite the scale of the expiry, Bitcoin’s price barely moved, holding steady around $107,300. This decoupling between notional and price reinforces the idea that this was a mechanical adjustment, not a directional event.

It was one of the cleanest quarterly expiries in a while. The low volatility surrounding the event suggested that most positioning had already been adjusted in advance, with limited need for dealers to aggressively hedge into expiry. Post-expiry, options OI rebounded slightly to $35.2 billion by July 2, indicating traders were in the early stages of repositioning for the third quarter.

June’s futures and options cleanup had a visible effect on market structure. Implied volatility remained relatively subdued, even as realized volatility edged lower. This trend, combined with a flattening CME futures basis, down from roughly 9.5% annualized on June 10 to around 6% by June 30, reflects a lower-risk profile in the derivatives market heading into the third quarter.

Much of this repricing appears driven by institutional flows. CME saw large futures rolls throughout the final week of June as traders shifted out of BTCM25 (June expiry) into BTCU25 (September expiry). Meanwhile, on Deribit, call-heavy positioning into late June was replaced by a more balanced skew, with an increase in open interest around $110,000-$120,000 strikes for July and September.

The result of this unwinding and expiry is a market better positioned for directional movement. Bitcoin has entered July with a spot price largely unchanged from mid-June but with far less derivative baggage. Futures OI is down more than $8 billion from the highs, while options OI is $16 billion below the June peak.

The lack of price impact during these drops, especially the massive June 28 options expiry, suggests that traders remain engaged but more disciplined. A lighter, more responsive market opens the door for sharper moves if we see other major catalysts in the third quarter. Whether that results in a breakout above the ATH or a return to volatility compression will depend on external triggers. But after a volatile June, the deck has been cleared for the next leg of the derivatives cycle.

The post End of the quarter wipes out billions from Bitcoin open interest appeared first on CryptoSlate.

I’m happy to announce that Kraken ranked 2nd globally Kaiko’s second quarter Exchange rankings rose from third place in the first quarter.

This advancement reflects what our global community already knows. We are not one of the world’s leading crypto exchanges. We are a platform that constantly improves, evolves and drives the industry.

Kaiko’s exchange rankings are one of the strictest in the space, offering data-driven ratings across multiple core dimensions. Market quality, legal and regulatory compliance, security practices, and transparency standards.

Kraken worked well in all these categories and had a particularly strong mark on market depth, order book consistency, regulatory footprint and data openness. This report highlights not only where we stand today, but how our long-term strategy continues to be offered to both traders, institutions and builders from crypto.

First of all, who is the silkworm?

Kaiko is a leading provider of cryptocurrency market data, analytics and indexes, providing businesses with system-grade regulations-compliant solutions. These solutions are used in the Kaiko index, conducting independent quarterly valuations of spot cryptocurrency exchanges and are ranked based on a variety of factors, including liquidity.

Here’s a breakdown of why Kraken was ranked second in Global Exchange by Kaiko:

It’s consistently good and just gets better

From day one, Kraken is built with a clear purpose. It is to accelerate the global adoption of cryptocurrency while raising standards for industry trust, reliability and service. Being recognized as Kaiko’s #2 Global Exchange is a testament to its mission.

But this is not a victory lap. It is a milestone on a much longer journey.

It is not just strength that distinguishes Kraken, but many strengths, such as product performance, risk management, and client-first culture.

Let’s take a closer look at how our values ​​match the criteria Kaiko evaluates.

Market quality: deep liquidity, tough spreads, actual volume

In the category of Market qualityKaiko evaluates how exchanges support price discovery, reduce slippage, and maintain liquid books across pairs and time zones.

At Kraken, we built one of them Deepest, most stable fluidity pool By code. Our professional grade infrastructure processes billions of dollars in daily volumes. Super fast execution and minimal downtime. Supports advanced order types and provides deep books across spots, margins and derivatives markets.

Clients from retailers to institutions rely on Kraken as we provide True Market Depth (Not an inflated metric). Our volume is authentic, our spreads are competitive, our working hours are world class.

(Security and Compliance: Always ahead of the curve

I’ve set benchmarks for a long time Crypto Security and Compliancemainly for us Licenses and registrations for multiple global marketsours Strong operating results And we Continuous investment in compliance and client protection.

Both are included in Kaiko’s rankings Regulatory stance and Security Controls. We treat regulations as a path to legitimacy rather than a burden. It is registered in several major jurisdictions, including the US, UK, EU, Canada, Australia, and more.

Ours Client fund protection measures, Storage Protocol and Regular penetration tests Make sure you meet (and often exceed) your agency’s security expectations. This is why Kraken is trusted by governments, hedge funds, asset managers and a large number of traders around the world.

constarparence: Transparency: clear data, real metrics, honest communication

Silkworms are also heavy Data openness and transparency – Values ​​woven into Kraken’s DNA. I’ll publish it Real-time market datahistory feed, proof of booking, and clear API access across all products.

Kraken believes in openness by default when others can mask volumes, mislead the synthetic metrics, or delay disclosure. We support our claims with verifiable facts. And in cipher, that’s everything.

We too One of the first major exchanges to support regular third-party auditsallowing clients to independently verify that their assets are backed up 1:1. Transparency is more than just a feature. That’s the responsibility we’ve accepted from day one.

Momentum is important

We are honored to be able to hold the #2 position globally, but what excites us the most is The direction we are heading. In the fourth quarter of 2024, Kraken was in the top five. In the first quarter of 2025, we moved to #3. Well, in the second quarter it rose again – and we haven’t slowed down.

Such a sustained momentum is possible only due to the unwavering focus of the Kraken team.

• Client-first innovationFrom intuitive UX to advanced trading features
• Resilience and security On all layers of the stack
• Global expansion through regulatory alignment
  
• Open and honest engagement With users and a wider ecosystem

We are proud to be able to build a platform that supports the future of finance.

It was built for the long term

The rise in Kraken’s Kaiko rankings is a result of years of hard work, value-driven decisions and community trust. But our work is not finished. We will innovate, listen and lead with integrity.

Whether you are a new trader or an experienced institution, we are committed to providing you with the tools, security and transparency you need to thrive in crypto. thank you To our clients, our partners and our Kraken team for helping us reach this milestone. We are proud to be #2. And more willing than ever to build what comes next.

June 30th Bitfinex alpha | BTC will consolidate ahead of the third quarter

Bitcoin continues to trade within a well-defined range between $100,000 and $110,000, showing signs of consolidation after an explosive almost 50% rally from its low of $74,634 in April. Recent price action compression reflects cooling of both chain and derivative activities, reflecting a decrease in spot volume, lower candidate buying pressure, and lower open interest, highlighting the market transitioning from a positive impulse to a range stage.

Bitcoin short-term holders successfully served as a major structural level with a price of around $98,700, particularly during the latest drawdown that escalated tensions between Iran and Israel. Despite its volatility, this level continues to act as both a support and a resistance zone throughout the current bull cycle. Last week, a short collapse to a low of $99,830 triggered important liquidation on both the long and short sides, bringing future open profit levels above 7% in the 24-hour window. This flash cleared quarterly over leverage and reset market positioning.

Going forward, historical seasonality suggests a phase where volatility is low and directional movements have been calm. On average, Q3 is Bitcoin’s weakest quarter, historically a return of just +6%, with price action tending to remain in range for this period.

The US economy continues to send contradictory signals as consumer spending slows, but inflation stubbornly surpasses targets, complicating Federal Reserve decisions. In May, both personal income and expenditures fell, with many households using their savings to cut essentials such as vehicles and dining out. Core inflation has risen to 2.7% and will maintain a cut from the table for now as the Fed focuses on balancing price stability. The trade deficit has grown further, claims of unemployment show signs of the cooling labor market, and orders of durable goods have earned a temporary lift from a surge in aircraft sales. Hope for the short-term Fed action has dimmed as policymakers await clearer evidence on the direction of the economy amid tariff pressures and global uncertainty.

At Crypto, Chinese securities companies Gemini and GF provide EU and Hong Kong investors, respectively, as part of their efforts to combine traditional finance with blockchain with traditional finance. Meanwhile, the risks in the sector were highlighted by a Pennsylvania man’s more than eight years of prison sentence for fraudulent investors in a $40 million crypto Ponzi scheme, reinforcing the need for vigilance to allow digital finance to evolve.

]]> https://earlybirdsinvest.com/bitfinex-alpha-btc-will-consolidate-ahead-of-the-third-quarter/feed/ 0 45265 https://earlybirdsinvest.com/us-banks-see-70600000000-in-profits-in-first-quarter-as-non-interest-income-jumps-fdic/ https://earlybirdsinvest.com/us-banks-see-70600000000-in-profits-in-first-quarter-as-non-interest-income-jumps-fdic/#respond Wed, 28 May 2025 21:45:36 +0000 https://earlybirdsinvest.com/us-banks-see-70600000000-in-profits-in-first-quarter-as-non-interest-income-jumps-fdic/

The US banking industry saw a rise in profits in the first quarter of the year driven by a jump in non-interest income, according to new government numbers.

In an announcement from the Federal Deposit Insurance Corporation (FDIC), the agency says that financial institutions in the US reported a return of 1.16% and net income of $70.6 billion.

The FDIC says the rise in income was a jump of $3.8 billion, or 5.8%, from the previous quarter.

Says FDIC Acting Chairman Travis Hill,

“With strong capital and liquidity levels to support lending and protect against potential losses, the banking industry continued to support the country’s needs for financial services while navigating the challenges presented by economic uncertainty, elevated inflation and interest rates, tighter credit, and elevated unrealized losses.”

Earlier this month, market intelligence giant S&P Global reported that the top four US banks have seen their assets grow in the past three months by a whopping $681.71 billion.

S&P Global says that the combined assets of JPMorgan Chase, Bank of America, Citibank and Wells Fargo ballooned by 5.9%, or $681.71 billion, in the first quarter of the year.

The massive asset growth is in stark contrast to “a 2.9% contraction in the previous quarter.”

“JPMorgan Chase & Co., the biggest US bank at $4.358 trillion in total assets as of March 31, reported an increase of $355.04 billion in assets in the first quarter. That marked the third-highest sequential increase among the nation’s 50 largest banks at 8.9%.

Citigroup Inc. posted the second-highest sequential growth at 9.3%, or an increase of $218.57 billion in assets.

Bank of America Corp. reported asset growth of 2.7% from the prior quarter, while Wells Fargo & Co.’s assets increased 1.1% in the same period.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Hut 8 Corp. (NASDAQ | TSX:HUT) reported a net loss of $134.3 million for the first quarter of 2025. Quarterly revenue fell from $51.7 million to $21.8 million from the previous year, but the adjusted EBITDA was reported to be ($117.7).

Still, Hut 8 highlighted the strategic growth moves it believes will pay off in the near future. CEO Asher Genoot called the quarter a “intentional and necessary investment phase,” adding, “I believe the return of this work will become more and more noticeable in the last quarter.”

A key development was the launch of American Bitcoin, a majority-owned subsidiary that focuses solely on industrial-scale Bitcoin mining. The move follows a widespread ASIC fleet upgrade, which increased the company’s hashrate from 79% to 9.3 eh/s, and improved fleet efficiency by 37% to about 20 j/th.

“Following a period of disciplined investment and execution… the streamlined capital allocation framework enabled by the launch of US Bitcoin will strengthen our ability to expand a typical company,” explained Genoot.

As of March 31, 2025, HUT 8 had stored 10,264 Bitcoins for approximately $847.2 million, whilst managing energy capacity of 1,020 megawatts (MW) across 15 sites. The company also reports a development pipeline of ~10,800 MW, with exclusivity of around 2,600 MW.

Hut 8’s energy and digital infrastructure segments generated moderate revenues of $4.4 million and $1.3 million, respectively. However, the computing segment, which includes Bitcoin mining, won the quarter with revenue of $106.1 million.

Also progress has been made in expanding the infrastructure with the 205 MW VEGA site on track due to the energy and early foundations for the second quarter launched at Riverbend campus in Louisiana. The company has also introduced new software tools such as reactors and operators to activate Salt Creek’s Testrac and optimize ASIC-level operations and energy consumption.

Despite economic losses, Hat8 is confident. “We continue to oppose the 2025 roadmap,” Genoot said, pointing to future catalysts such as utility scale power development and expanding US operations.