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Robinhood (HOOD) on Wednesday reported a 98% year-over-year jump in second-quarter crypto trading revenue, while easily beating Wall Street's earnings estimates as the company’s crypto ambitions and international expansion began to take shape.The popular trading platform posted net revenue of $160 million for crypto, up from $81 million in the same period last year. Adjusted earnings per share (EPS) came in at $0.42, topping the consensus estimate of $0.31 and doubling from a year ago. Overall revenue surged 45% to $989 million, which also beat analysts' estimate of $928.8 million, according to FactSet data.The company saw $28.3 billion in crypto trading volume in the second quarter."We delivered strong business results in Q2 driven by relentless product velocity, and we launched...

Did U.S. Federal Reserve Chairman Jerome Powell just threaten to hike rates?At his post-meeting press conference following the Fed's Wednesday decision to hold interest rates steady, Powell continued to insist that the president's tariff policy risks igniting inflation."Increased tariffs are pushing up prices," said Powell. "Near-term measures of inflation expectations have moved up.""You could say," Powell continued, "the Fed is looking through inflation by not hiking ."Markets didn't take kindly to the remarks, with the price of bitcoin (BTC) quickly tumbling nearly 2% to $115,800 and major U.S. stock indices moving from roughly 0.5% advances to 0.5% losses.The carnage in altcoins was worse, with ether (ETH), solana (SOL) and XRP (XRP) each slipping nearly 4%.The Fed earlier held its fed...

As was almost universally expected, the U.S. Federal Reserve Wednesday left its benchmark fed funds rate range steady at 4.25%-4.5%.In a rare departure from norms, two Fed governors — Michelle Bowman and Chris Waller — dissented from the decision, preferring instead to trim rates by 25 basis points. It's the first time two Fed members have dissented from a policy decision since December 1993, according to Carson Group Chief Market Strategist Ryan Detrick."Although swings in net exports continue to affect the data, recent indicators suggest that growth of economic activity moderated in the first half of the year," said the Fed's accompanying statement. "The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated."Bitcoin (BTC)...

Welcome to The Protocol, CoinDesk's weekly wrap-up of the most important stories in cryptocurrency tech development. I'm Margaux Nijkerk, CoinDesk’s Tech & Protocols reporter.In this issue:Ethereum At 10: Where Next For The World Computer?Linea to Burn ETH With Every Transaction in Bold L2 UpgradeSolana Players Unveil ‘Internet Capital Markets’ RoadmapSquare Begins Rollout of Bitcoin Payments for Sellers, Targets Full Availability by 2026Unknown block type "divider", specify a component for it in the `components.types` optionNetwork news10 YEARS OF ETHEREUM: When Ethereum launched on July 30, 2015, it set out to be more than just another cryptocurrency. It aimed to expand the boundaries of blockchain technology itself. While Bitcoin became digital gold, Ethereum pursued a more expansive vision: to be a decentralized...

The long-awaited White House crypto strategy is out, but the 163-page report isn't likely to tell the crypto industry much that it doesn't already know — including about the federal bitcoin reserves, which remain a black box for a sector keen to learn anything new.The report offers the most comprehensive outline of President Donald Trump's crypto push to date, covering all the major and minor policy efforts underway this year. For an industry that's been following each of those closely, however, it doesn't offer revelations of new initiatives or go into a deep explanation of individual policy pursuits.Senior administration officials said on Wednesday that it's meant as a guidepost against which the government's progress can be measured. So far, the...