Coinbase’s revenue dropped 55% in the third quarter to $590 million versus the same period last year as trading volume on the crypto exchange slowed dramatically. But similar to Robinhood, which reported earnings on Wednesday, Coinbase posted significantly higher revenue from interest income, thanks to Federal Reserve interest rates hikes over the past year. Coinbase shares had closed down 8%...
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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