q1

NVIDIA (NVDA.O) released its financial report after the U.S. stock market closed on Wednesday. For Q1 ending April 26, 2026, revenue was $81.6 billion, a 20% increase from the previous quarter and an 85% increase year-over-year, with market expectations at $78.672 billion. Revenue from the data center business was $75.2 billion, with market expectations at $72.8 billion. NVIDIA also announced an $80 billion stock buyback plan and will increase its quarterly cash dividend from $0.01 per share to $0.25 per share.In addition, NVIDIA's data center spending (the main source of the company's revenue) has not shown any signs of slowing down. NVIDIA expects second-quarter revenue to be $91 billion (plus or minus 2%), while the market median expectation is $86.788 billion, although the forecast value once reached as high as $96 billion.

Strategy CEO Phong Le stated that in the first quarter of 2026, 13 of the top 15 institutional shareholders of Strategy increased their holdings in $MSTR, with a total increase in holdings of 27%.

The financial report for the first quarter of 2026 released by the Zcash Foundation shows that as of March 31, the foundation's total current assets were approximately $36.7 million, with net current assets around $36.68 million. This includes about $12.11 million in cash (USD), 506,556 USDC, 85,412 ZEC (approximately $21.2 million), 41.8 BTC (approximately $2.85 million), and 12.02 ETH (approximately $25,000).In addition, the foundation's average monthly operating expenses for the first quarter were approximately $272,500, with the Protocol / Zebra project accounting for the highest proportion at 50.4%. Zcash Foundation Executive Director Alex Bornstein stated that the focus for Q2 will continue to advance the NU7 upgrade, Z3 technology stack development, and Zebra performance optimization.

Famous investor Duan Yongping's investment account H&H International Investment, managed in the United States, submitted SEC Form 13F for the first quarter of 2026, showing that as of March 31, 2026, it held a total of 19 securities, with a total portfolio value of approximately $20.004 billion, all holdings made with independent decision-making authority.Among them, Apple (AAPL) holds 28,945,607 shares, with a market value of $7.346 billion; Berkshire Hathaway (BRK.B) holds 9,147,796 shares, with a market value of $4.384 billion; NVIDIA (NVDA) holds 13,843,775 shares, with a market value of $2.414 billion; Pinduoduo (PDD) holds 19,748,294 shares, with a market value of $2.018 billion; Tesla (TSLA) holds 3,408,900 shares, with a market value of $1.267 billion. Microsoft (MSFT) holds 1,016,000 shares, with a market value of $376 million. Circle disclosed its position for the first time this quarter, holding 200,000 shares, with a market value of $19.082 million, accounting for approximately 0.1% of the portfolio.

Canaan Inc. announced its financial report for the first quarter of 2026. The report shows that the company's total revenue was $62.7 million, in line with the previous guidance range; net loss was $88.7 million. As of March 31, 2026, the company's cryptocurrency reserves reached 1,807.60 bitcoins and 3,951.53 ethers, setting a new historical high.In terms of operations, the total hash power of the company's ten joint mining projects reached approximately 11 EH/s, a quarter-over-quarter increase of 10.7%; the first quarter output was 257 bitcoins. In terms of strategic layout, the company acquired a 49% stake in the ABC project in West Texas from Cipher Mining, with the project's operational hash power reaching approximately 4.4 EH/s; at the same time, it deployed a "hash power to thermal energy" project in Northern Europe, with a planned total capacity of about 8 megawatts.Canaan Inc. expects total revenue for the second quarter of 2026 to be in the range of $35 million to $45 million.

According to BBX data, yesterday's corporate Bitcoin reserve expansion and the divergence in Wall Street institutional crypto allocations both landed simultaneously, with the core dynamics as follows:Strategy, Inc. (NASDAQ: $MSTR) submitted SEC Form 8-K, disclosing that the company purchased an additional 24,869 BTC between May 11 and May 17, with a total expenditure of approximately $2.01 billion, at an average price of about $80,985, marking the second-largest weekly purchase scale in 2026; the funds for this purchase came from the sale of 19.5 million shares of STRC preferred stock (net proceeds of about $1.949 billion) and 430,000 shares of MSTR common stock (net proceeds of about $83.7 million); as of May 17, the company's total holdings rose to 843,738 BTC, with a total acquisition cost of about $63.87 billion (average price $75,700), yielding 12.6% BTC since the beginning of 2026.Goldman Sachs Group, Inc. (NYSE: $GS) submitted Q1 2026 Form 13F to the SEC, disclosing that the company completely liquidated all XRP ETF holdings during Q1 2026 (previously held about $153.8 million, distributed among four issuers: Bitwise, Franklin Templeton, Grayscale, and 21Shares) and all Solana ETF holdings (previously about $108 million); simultaneously, it reduced its Ethereum ETF holdings by about 70% to approximately $114 million; retained Bitcoin ETF holdings of about $700 million (of which iShares Bitcoin Trust $IBIT is about $690 million and Fidelity FBTC is about $25 million), a slight reduction of about 10% from the previous quarter; meanwhile, the 13F showed that Goldman increased its holdings in Circle Internet Group, Inc. (NYSE: $CRCL), Galaxy Digital Inc. (NASDAQ: $GLXY), and Coinbase Global, Inc. (NASDAQ: $COIN) during Q1, signaling a shift from "altcoin ETFs to crypto infrastructure stocks."

According to The Block, digital infrastructure company Soluna Holdings announced its first-quarter financial report, with revenue increasing by 58% year-on-year to $9.4 million, marking the fourth consecutive quarter of sequential growth. The data center hosting business generated $6.7 million, while cryptocurrency mining contributed approximately $2.2 million, down from nearly $3 million in the same period last year.Net loss widened from $10.5 million in the same period last year to $17.9 million, primarily due to increased equity incentives, interest, and financing costs. Adjusted EBITDA loss slightly narrowed to $2.1 million. At the end of the quarter, it held $68.6 million in cash. Soluna is participating in the wave of Bitcoin miners seeking new sources of revenue, shifting capital towards AI and high-performance computing infrastructure.

According to CoinDesk, Kraken's parent company Payward announced its Q1 2026 performance, showing adjusted revenue of $507 million, a year-on-year increase of 3%, achieving growth despite the overall downturn in the cryptocurrency market.The report indicated that Payward's futures business performed strongly during the period, with daily average revenue trades (DARTs) increasing by 51% year-on-year, primarily benefiting from the expansion of NinjaTrader, Breakout, and derivatives business.However, the company's adjusted EBITDA fell to $18 million. Payward stated that it continues to invest in mergers and acquisitions, product development, and regulatory infrastructure construction, rather than prioritizing short-term profits.Data shows that during Q1 2026, Bitcoin fell by 22%, the total cryptocurrency market capitalization shrank by 23%, and the industry's spot trading volume decreased by 38%. In contrast, Kraken's performance during the bear market remained relatively stable.Payward co-CEO Arjun Sethi stated, "While other companies choose to contract, we choose to continue investing."Additionally, the company disclosed that Kraken's spot market share has increased from about 3.5% in mid-2025 to 5.2% in March 2026; the number of funded accounts on the platform grew by 47% year-on-year to 6.1 million, and the platform's asset scale rose to $40 billion.

Goldman Sachs significantly reduced its exposure to crypto ETFs in the first quarter of 2026 and has completely exited its positions in XRP and Solana-related ETFs. Documents show that Goldman Sachs held approximately $154 million in XRP-related ETFs in the fourth quarter of 2025, including products from Bitwise, Franklin Templeton, Grayscale, and 21Shares, making it one of the largest institutional holders of XRP ETFs at that time. Additionally, it previously held Grayscale Solana Trust ETF, Bitwise Solana Staking ETF, and Fidelity Solana Fund, among other Solana-related ETFs, and has now exited all of these positions.However, Goldman Sachs still retains a significant position in BTC and ETH ETFs. Specifically, it holds approximately $690 million in BlackRock IBIT and about $25 million in Fidelity FBTC, although both positions have decreased by about 10% compared to the previous quarter. Meanwhile, its position in BlackRock ETHA has shrunk by about 70%, leaving approximately 7.2 million shares valued at around $114 million. Furthermore, Goldman Sachs has increased its holdings in crypto-related stocks such as Circle, Galaxy Digital, Coinbase, Robinhood, and PayPal, while reducing its positions in mining and infrastructure companies like Strategy, Bit Digital, Riot Platforms, and IREN.

Bernstein analysts stated last week that Figure Technology Solutions' first-quarter financial report shows the company is rapidly becoming a unique presence in the blockchain market platform. The performance released by Figure on May 11 significantly exceeded Wall Street expectations in both revenue and EBITDA, with its core business transforming real-world credit assets into blockchain-native tools that can be traded and financed on-chain.Analysts believe Figure is building a blockchain-native capital market ecosystem, fundamentally differentiating itself from traditional balance sheet-based fintech lending platforms, and expect its stock FIGR to become a real-time reflection of blockchain loan volumes. Bernstein pointed out in a research report on May 15 that on-chain real-time data indicates Figure is about to welcome a record-breaking second quarter.Co-founder Mike Cagney introduced that the company's Forge platform can convert entire loans into small single-dollar liquidity participation units, addressing the liquidity challenges of RWA in DeFi. Bernstein previously estimated that the potential market size for annual credit issuance that could migrate on-chain could reach $4 trillion, while the current tokenized credit market is approximately $5.14 billion.

Italy's largest bank Intesa Sanpaolo will increase its holdings related to crypto assets from approximately $100 million at the end of 2025 to about $235 million in the first quarter of 2026. Among these, the bank has increased its holdings in the ARK 21Shares Bitcoin ETF and BlackRock's IBIT, and for the first time allocated Ethereum assets through BlackRock's iShares Staked Ethereum Trust, while also adding approximately $26 million in Grayscale XRP Trust ETF holdings.In addition, Intesa has established a bullish options position in IBIT for the first time and added 165,600 shares of BitGo stock, while completely liquidating its positions related to Bitmine. Its related holdings in Solana have been significantly reduced, with Bitwise Solana Staking ETF holdings decreasing from 266,300 shares to 2,817 shares. Reports indicate that Intesa has previously confirmed that the related crypto assets are primarily used for proprietary trading. Last month, Ripple also announced that it would provide digital asset custody services for the bank.

According to Cointelegraph, Italy's largest bank, UniCredit, has just disclosed that it increased its cryptocurrency exposure to $231 million in the first quarter.

According to Asia Economy, Upbit operator Dunamu disclosed that the consolidated revenue for the first quarter of 2026 was approximately $157 million, a year-on-year decrease of 55%; operating profit was approximately $59 million, a year-on-year decrease of 78%; and net profit was approximately $46.6 million, a year-on-year decrease of 78%.Dunamu stated that the decline in performance was mainly affected by the global economic slowdown and the decrease in trading volume in the virtual asset market.

According to CoinDesk, after the cryptocurrency trading platform Gemini, founded by the Winklevoss brothers, announced its Q1 2026 financial report, its stock price rose over 25% in pre-market trading. The financial report showed that the company's revenue for the quarter increased by 42% year-on-year to $50.3 million, while the net loss narrowed by 27% year-on-year to $109 million, but still exceeded market expectations of a loss of $0.61 per share.The report indicated that Gemini's operating expenses increased by 73% year-on-year to $144.5 million, with employee compensation costs rising by 91%, which included approximately $6.5 million in severance pay; sales and marketing expenses also doubled year-on-year to $19.1 million.The company stated that it is currently driving its business transformation through layoffs, business contraction, and a $100 million Bitcoin injection from Winklevoss Capital Fund, and is seeking to achieve profitability.In February of this year, Gemini closed its operations in the UK, EU, and Australia, laying off about 25% of its staff, and shifted its focus to the U.S. market and prediction market business. In April, the company received approval from the U.S. Commodity Futures Trading Commission for its Derivatives Clearing Organization (DCO) license, officially entering the cryptocurrency prediction market field. Boosted by these developments, the company's stock price has recently rebounded and is now above $6.6.

According to GlobeNewswire, Nasdaq-listed HYPE Treasury Company Hyperion DeFi has released its Q1 financial report, disclosing a net profit of $8.8 million for Q1, an improvement from a net loss of $39.8 million in Q4 2025. Since the end of Q1, it has increased its holdings by approximately 60,000 HYPE tokens, bringing its total HYPE token holdings to over 2 million. Its validator nodes have been delegated 10.2 million HYPE, ranking among the top six validator nodes, second only to the Hyperliquid Foundation.In addition, the company also holds 1.92 million KNTQ tokens and 10 million HPL tokens.