Coinbase Posted $1.41 Billion In Q1. The Tape It Lands Into Looks Worse.
COIN's Q1 revenue was earned in a different crypto market than the one it now operates in. The Q2 print is where the exchange model gets tested.
Filing Summaries
Notes that pull the important parts of SEC filings into context for covered companies and ETF wrappers.
Latest Research
FBTC's Q1 10-Q Is Clean. The Tape Around It Is Not.
Fidelity's spot Bitcoin ETF filed a routine quarterly report on May 6, with near-maximum Bitcoin exposure and a watchlist-level filing risk read, while the macro tape sits in fear sentiment and a Bitcoin-led regime.
Galaxy Digital's Q1 10-Q lands into a Bitcoin-led tape running on fear
GLXY filed its March quarter 10-Q on May 8 with $10.04 billion in revenue, and the filing arrives just as Bitcoin dominance climbs and crypto sentiment sits in fear.
MARA's Q1 10-Q: A $2.41 Billion Bitcoin Pile Now Runs The Equity
MARA's first-quarter filing shows $174.6 million in revenue alongside a Bitcoin treasury that dominates the equity's risk profile.