crypto

Yaël Bizouati-Kennedy5/8/25

MARA misses on earnings, sending stock down

MARA Holdings, the second-largest corporate bitcoin holder after Strategy reported earnings today, missed analyst estimates. The stock dipped 3% in after-hours trading.

The bitcoin mining company reported revenue of $214 million, a 30% year-over-year increase but below the consensus estimate of $216 million.

MARA reported adjusted losses per share of $1.44, which was far worse than the consensus estimate of $0.13.

Bitcoin holdings increased 174% year over year to 47,531 from 17,320 at the end of Q1 2024. In April, MARA increased its bitcoin holdings to 48,237 bitcoin.

“Although we recognized a loss in Q1 based on a quarter end bitcoin price of $82,534, the current bitcoin price of approximately $100,000 would imply a substantial fair value gain in excess of the fair market value loss recognized in Q1 2025,” the company said in its shareholder letter.

MARA Announces First Quarter 2025 Results

The bitcoin mining company reported revenue of $214 million, a 30% year-over-year increase but below the consensus estimate of $216 million.

MARA reported adjusted losses per share of $1.44, which was far worse than the consensus estimate of $0.13.

Bitcoin holdings increased 174% year over year to 47,531 from 17,320 at the end of Q1 2024. In April, MARA increased its bitcoin holdings to 48,237 bitcoin.

“Although we recognized a loss in Q1 based on a quarter end bitcoin price of $82,534, the current bitcoin price of approximately $100,000 would imply a substantial fair value gain in excess of the fair market value loss recognized in Q1 2025,” the company said in its shareholder letter.

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Sage D. Young4/22/26

Justin Sun sues Trump-backed World Liberty over frozen tokens

Crypto billionaire Justin Sun, owner of the world’s most expensive banana, was named an adviser to World Liberty Financial the day after investing $30 million in the project. (He’d later boost that with $45 million more.) Sun has long been a supporter of President Trump, and has not once, but twice topped a competition to amass the most $TRUMP coins. But it seems even for Sun, the gold has turned brass.

Sun announced on social media that he’s filed a lawsuit in a California federal court against the crypto project backed by Trump.

The lawsuit alleges World Liberty engaged in an “illegal scheme to seize property” and “positioned itself as the new boogeyman” by stripping Sun of his governance rights, threatening to burn his WLFI tokens, and freezing his stash, which at times were worth $1 billion, according to the complaint dated on Tuesday.

“I have tried in good faith to resolve this situation with the World Liberty project team without resorting to litigation,” Sun wrote in a lengthy X post on Tuesday night. “But the project team has refused my requests to unfreeze my tokens and restore my rights as a token holder. They have left me with no choice but to turn to the courts.”

The complaint also alleged that World Liberty appears to be in financial trouble, citing concerns over whether the project can repay an on-chain loan that was collateralized by using, at the time, $5 billion worth of WLFI. The token reached an all-time low less than two weeks ago.

Despite the escalation with World Liberty, Sun said the lawsuit does not change his feelings about Trump or his administration. “I have always been — and remain — an ardent supporter of President Trump and his Administration’s efforts to make America crypto friendly,” he said.

Blockchain billionaire Sun takes Trump family’s crypto firm to court

Blockchain billionaire Sun takes Trump family’s crypto firm to court

The lawsuit alleges World Liberty engaged in an “illegal scheme to seize property” and “positioned itself as the new boogeyman” by stripping Sun of his governance rights, threatening to burn his WLFI tokens, and freezing his stash, which at times were worth $1 billion, according to the complaint dated on Tuesday.

“I have tried in good faith to resolve this situation with the World Liberty project team without resorting to litigation,” Sun wrote in a lengthy X post on Tuesday night. “But the project team has refused my requests to unfreeze my tokens and restore my rights as a token holder. They have left me with no choice but to turn to the courts.”

The complaint also alleged that World Liberty appears to be in financial trouble, citing concerns over whether the project can repay an on-chain loan that was collateralized by using, at the time, $5 billion worth of WLFI. The token reached an all-time low less than two weeks ago.

Despite the escalation with World Liberty, Sun said the lawsuit does not change his feelings about Trump or his administration. “I have always been — and remain — an ardent supporter of President Trump and his Administration’s efforts to make America crypto friendly,” he said.

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