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BTC $66,514.60 -6.79%
ETH $1,857.22 -7.30%
BNB $649.74 -6.27%
XRP $1.21 -6.95%
SOL $73.81 -9.18%
TRX $0.3323 -3.23%
DOGE $0.0926 -8.12%
ADA $0.2125 -8.00%
BCH $268.49 -7.79%
LINK $8.36 -7.61%
HYPE $69.20 -7.95%
AAVE $73.37 -8.71%
SUI $0.8062 -8.32%
XLM $0.2195 -10.74%
ZEC $589.19 +7.91%

ltin

Forward Industries' revenue increased by 319% year-on-year, but the impairment of SOL holdings dragged down performance, resulting in an expanded quarterly loss

Forward Industries, a Solana treasury company, announced its quarterly financial report for the period ending March 31, 2026, showing a year-on-year revenue increase of 319% to $13 million. However, due to the decline in the fair value of crypto assets, net losses widened to $283.1 million.The company stated that the growth this quarter was mainly driven by increased staking rewards from Solana (SOL). However, during the same period, it recorded a digital asset loss of $201.7 million and an asset impairment of $85.1 million, primarily due to the price volatility of SOL leading to a decrease in the valuation of holdings.The financial report indicated that the company held approximately 7.04 million SOL during the quarter and earned about 201,200 SOL in rewards through staking, with nearly all SOL assets being staked. Solana fell approximately 33.7% during the reporting period, closing at $82.44. Price volatility is considered the core factor dragging down financial performance.Additionally, Forward Industries signed a loan agreement with Galaxy Digital in March and drew the first tranche of $40 million in financing, using fwdSOL as collateral, with a comprehensive annual interest rate of about 3.4%. The company stated that this financing is used to optimize its liquidity structure.Company management indicated that they have adjusted the balance sheet through cost reductions, debt instruments, and stock buybacks to cope with market volatility and enhance long-term value. Despite a significant widening of quarterly losses, the company's stock price slightly declined in after-hours trading following the financial report, but it still recorded a monthly increase recently.

Charles Schwab opens BTC/ETH spot trading to 39 million customers, Alcoa enters deep negotiations with NYDIG regarding the sale of its New York smelting plant

According to BBX data, the bidirectional penetration of traditional financial institutions and industrial infrastructure into the crypto space has accelerated over the weekend, with the following core dynamics:The Charles Schwab Corporation (NYSE: $SCHW) officially launched the Schwab Crypto platform in phases on April 17, opening direct trading of Bitcoin and Ethereum spot to 39 million active brokerage account customers through its Charles Schwab Premier Bank, SSB, with compliance custody and trade execution provided by Paxos, and a fee of 75 basis points per transaction; initially excluding New York and Louisiana. The company recorded earnings per share of $1.43 and revenue of $6.48 billion in Q1 2026, with total customer assets of approximately $12.22 trillion as of early 2026.Alcoa Corporation (NYSE: $AA) CEO Bill Oplinger confirmed in a Bloomberg interview on April 17 that the company is in deep negotiations with Bitcoin financial services company NYDIG regarding the sale of the Massena East smelter site in New York (1,300 acres, closed since 2014), which "should be completed by mid-year." The site is adjacent to the St. Lawrence River and can access hydroelectric resources provided by the New York Power Authority; NYDIG has been operating Bitcoin mining facilities there since 2024 and will gain full control of the infrastructure after the acquisition. The financial terms of the transaction have not been disclosed.
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