Grayscale's Hyperliquid ETF staked 90% of its $197 million, earning 10,341 HYPE in a quarter
The quarterly report of Grayscale Hyperliquid Staking ETF (HYPG), filed with the SEC on November 10, shows 2.22 million HYPE in the fund on September 30 and a $48.3 million quarterly gain. HYPE has since dropped about 19%.
A Nasdaq-listed HYPE holder wants to be a US futures broker. HYPE is down 15% in a week
Nasdaq-listed Hyperliquid Strategies says a subsidiary has applied to become a futures commission merchant, a step toward offering Hyperliquid perps to US customers. It also booked a $620.6 million quarterly profit, nearly all of it paper gains on HYPE.
Coinbase made $719 million in Q3. Almost all of it came from its own crypto pile
Coinbase swung from a $359 million loss to a $719 million profit, but $715 million of that was a paper gain on crypto it holds. Retail spot trading volume fell 59% in a year, while prediction markets passed $200 million a year in revenue.
Strategy booked a record $20.9 billion profit. So why did it sell $432 million of bitcoin?
The biggest corporate bitcoin holder had its best quarter ever on paper. But each share is now backed by 3.7% less bitcoin than in January, it spent $2 billion propping up its own preferred stock, and its CFO is leaving.
Galaxy earned $323 million in Q3, mostly on its own holdings. Trading still lost money
Mike Novogratz's Galaxy turned an $85 million Q2 loss into a $323 million Q3 profit and approved another $200 million buyback. Most of the gain came from its own investments, while data centers became a steady earner.
Robinhood's crypto revenue fell 55%. Prediction markets now earn it more
Robinhood posted record revenue of $1.42 billion in Q3 2026, but crypto revenue sank to $120 million. Bets on events brought in $173 million, and its new blockchain says it collected more than $50 million in fees in its first quarter.