Crypto

Coinbase shares rose nearly 4% on Wednesday after William Blair maintained an 'outperform' rating despite slashing 2026 and 2027 EBITDA estimates by 34% and cutting revenue forecasts by 12-13%.

The cryptocurrency climbed to nearly $65,000 from $61,500, with most gains occurring following the release of the June consumer price index (CPI) report, which showed headline inflation rising just 3.5% year-over-year, below the 3.8% consensus forecast.

The broader crypto market has been mixed, with Bitcoin trading near $64,600, down 0.3% on the day but up 4.2% weekly.

Jesse Pollak, the creator of the Ethereum layer-2 network Base, is stepping back from leading the Base App after admitting he made a 'wrong bet' on social experiences driving crypto adoption.

A German research consortium has released Soofi S 30B-A3B, an open hybrid Mamba-Transformer Mixture-of-Experts (MoE) foundation model designed for German and English.