. In an earnings report posted on Aug. 3, Block reported $2.4 billion in Bitcoin sales with a gross profit of $44 million, a 7% increase compared to the same period last year.Block posted a 25.6% increase in revenue in the past quarter, which rose from $4.4 billion to $5.53 billion year-on-year.: The first American crypto exchange to go public, Coinbase, posted its quarterly earnings report on Aug.
The second quarter also saw the exchange’s non-trading revenue surpass its trading revenue for the first time, with $335.4 million of net revenue coming from subscriptions and services.The crypto exchange reported a 10% decline in revenue compared to Q2 2022, but still beat estimates, thanks to its growing market dominance in the United States. The firm also narrowed its losses bringing them to under $100 million in the second quarter.compared to the last year.
Most of these crypto firms benefited from a rise in prices in the crypto market and a steady decline in bearish momentum, moving away from the crypto winter.