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Reddit (RDDT) stock soared more than 40% to an all-time high Wednesday after the social media company posted its first profit as a publicly traded company and reported third-quarter revenue that beat Wall Street expectations. The total amount was 117 dollars. Shares rose 42% to close at $116. On Tuesday night, Reddit reported quarterly revenue of $348 million, up 68% from a year ago and beating Wall Street’s forecast of $313 million. Reddit’s fourth-quarter earnings outlook also exceeded expectations. Adjusted earnings per share of $0.16 were below analysts’ expectations of $0.20, but Reddit reported its first profit since its $30…

Canary Capital recently filed a Solana ETF application with the U.S. Securities and Exchange Commission (SEC), marking the company’s second venture into a growing crypto ETF. The move comes amid Canary Capital’s series of crypto ETF filings. Canary Capital’s Solana ETF Application The latest SEC filing highlights the company’s goal to diversify its offerings beyond the cryptocurrencies it already targets, such as Bitcoin and Ethereum. Today, the company applied for the SOL ETF, but 21Shares recently withdrew its application, making it second only to VanEck’s SOL ETF. Prior to this, the company filed for a Litecoin ETF on October 15th.…

In a recent report, the U.S. Treasury said tokenization and stablecoins are emerging forces that could transform the Treasury market, highlighting both the benefits of these innovations and the risks they carry. .The report says that as tokenization (the process of digitally representing assets on the blockchain) takes root, the efficiency of government bond markets will increase significantly, expanding investor access and increasing transparency. He pointed out that there is a possibility.However, he warned that stablecoins, which now rely more on US Treasuries as collateral, could pose significant risks if not tightly regulated.tokenizationTokenization has been touted as a potential breakthrough…

Important points The S&P 500 index fell 0.3% on Wednesday, October 30, as the latest GDP data showed an unexpected slowdown in economic growth in the third quarter. Supermicrocomputer stocks plunged after accounting firm EY resigned as server and data auditor. Garmin stock soared after the maker of fitness monitors and other wearable devices beat quarterly estimates and raised its full-year outlook. Major U.S. stock indexes traded in positive territory for much of Wednesday’s session, but stalled in the afternoon and closed slightly lower. The mid-week trading day seesawed after the latest gross domestic product (GDP) data showed economic growth…

The XRP Ledger (XRPL) reached a key milestone on October 30, 2024 with the activation of the Decentralized Identifier (DID) Amendment, ushering in a new phase of user-controlled digital identity. The new feature, known as XLS-40, adds a layer of security and privacy to transactions on XRPL by allowing users to create self-sovereign identities that are cryptographically verifiable and independent of any central authority. Decentralized Identifiers (DIDs) and their role in XRPL DID is a unique decentralized identifier that allows users to own and manage their digital identity without relying on a central authority. This structure complies with World Wide…

Check out the companies that made headlines in after-hours trading: Microsoft — The technology giant rose about 1% after its fiscal first quarter revenue and bottom line beat Wall Street expectations. did. Microsoft reported earnings of $3.30 per share and revenue of $65.59 billion, compared to analyst estimates compiled by LSEG of earnings of $3.10 per share and revenue of $64.51 billion. Booking Holdings — The online booking company’s stock rose about 6%. For the third quarter, the company reported adjusted earnings of $83.39 per share and revenue of $7.99 billion, compared to the expectations of analysts surveyed by LSEG…

Social media network Reddit sold the majority of its cryptocurrency holdings in the third quarter of 2024, according to a recent filing with the Securities and Exchange Commission (SEC).The bulk of the sales came from holdings in Bitcoin (BTC) and Ether (ETH) government bonds. The 10th quarter SEC filing revealed that the net value of the crypto assets and the gain recognized from the sale were deemed immaterial in the period.“During the three months ended September 30, 2024, we sold a significant portion of our cryptocurrency portfolio, consisting primarily of Bitcoin and Ether. was not significant in the period presented.”…

Dogecoin price has been one of the best performers following the recent rally in the crypto market. The Shiba Inu, on the other hand, followed closely and even upset the Avalanche in the process. This development has sparked discussion that meme coin season may be back. Dogecoin price and popular Shiba Inu The price of Dogecoin and Shiba Inu are in the spotlight as it is one of the biggest gainers following the recent Bitcoin-led market rally, which is aiming for its current all-time high (ATH) of $73,000. . For context, DOGE is up 28% in the past 7 days…

Former Ripple CTO Stefan Thomas said he is working on a new version of Codius, a smart contract hosting protocol that allows for more versatility and flexibility. One expert says this is a big problem for the XRP Ledger, as it enables off-chain smart contract execution and compatibility between ledgers. Stephen Thomas, Ripple’s first chief technology officer, is developing a new version of Codius, the smart contract protocol he developed a decade ago. This could open up new opportunities for the XRP Ledger. Smart contracts are now ubiquitous and easier than ever to create and deploy. However, this was not…

Bitcoin developer MicroStrategy today reported a loss in its latest quarterly results, but the company remains fully committed to Orange Coin. In an announcement Wednesday, the company (NASDAQ:MSTR) said it plans to raise $42 billion over the next three years to buy more Bitcoin. MicroStrategy CEO Pong Le said in a statement that the strategy is part of the company’s 21/21 Plan, with $21 billion raised in equity and another $21 billion sold in debt. said.MicroStrategy is already the largest publicly traded holder of Bitcoin, with 252,220 coins, worth $18.2 billion today. Lee said today that the company has no…