Coinbase, a cryptocurrency trading platform, exceeded revenue expectations and expressed confidence in winning its legal dispute with the SEC. Despite a 1.2% decline in extended trading, the company reported a total revenue of $707.9 million, with a loss of 42 cents per share. Bitcoin accounted for 40% of trading volume, while Ethereum represented 23%. Quarterly subscription revenue saw a 7% decrease. Coinbase aims to achieve regulatory clarity and enhance its adjusted EBITDA. Notably, Coinbase shares rose by 6% in after-hours trading, reflecting positive sentiment. 

In contrast, the collapse of FTX, another cryptocurrency exchange, has unveiled dubious endeavors tied to its nonprofit arm. A lawsuit against the exchange's founder has revealed plans to acquire an island, constructing a secure bunker in anticipation of a catastrophic event that drastically reduces the global population. Furthermore, they aimed to develop regulations concerning human genetic enhancement. These revelations shed light on the FTX Foundation's true purpose of improving the defendants' public image. As the founder faces impending fraud charges, their trial awaits in the near future.

The Digest, 8/4/2023 @400AM, CDT

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