{"id":12865,"date":"2025-02-13T11:18:02","date_gmt":"2025-02-13T11:18:02","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12865"},"modified":"2025-02-13T11:18:02","modified_gmt":"2025-02-13T11:18:02","slug":"coincheck-sees-75-revenue-surge-following-nasdaq-listing-and-merger","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12865","title":{"rendered":"Coincheck Sees 75% Revenue Surge Following Nasdaq Listing And Merger"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">Japanese cryptocurrency exchange Coincheck recorded a significant 75% increase in revenue during its fiscal third quarter, a surge attributed to its recent merger and successful Nasdaq listing.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to its <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.businesswire.com\/news\/home\/20250211023485\/en\/Coincheck-Reports-Fiscal-2025-Third-Quarter-Financial-Results\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">earnings report<\/span><\/a> <span data-preserver-spaces=\"true\">for the period spanning<\/span><span data-preserver-spaces=\"true\"> October 1 to December 31, Coincheck\u2019s revenue soared to $782 million, up from $447 million in the previous quarter. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Despite this strong performance, the exchange reported a net loss of $98.1 million, primarily due to $751 million in sales and administrative expenses.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-coinbase-listings\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">15 New &amp; Upcoming Coinbase Listings to Watch in 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Coincheck Group CEO Attributes Revenue Surge to Thunder Bridge Capital Merger<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Coincheck Group CEO Gary Simanson credited the revenue boost to the December 11 completion of a merger with Thunder Bridge Capital, a blank-check company.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The deal paved the way for Coincheck\u2019s stock and warrants to begin trading on <\/span><span data-preserver-spaces=\"true\">Nasdaq<\/span><span data-preserver-spaces=\"true\"> under the tickers CNCK and CNCKW.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Originally announced in March 2022, the merger aimed to transition Coincheck into a publicly traded company via a $1.25 billion de-SPAC transaction. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Founded in 2012, Coincheck is one of Japan\u2019s leading crypto exchanges, serving 2.2 million verified users as of December. It ranks 66th globally, with <\/span><span data-preserver-spaces=\"true\">daily<\/span><span data-preserver-spaces=\"true\"> trading volume of approximately $120 million, according to CoinGecko data.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Coincheck gained worldwide attention in January 2018 following a major security breach that resulted in the theft of $534 million worth of NEM tokens. The exchange compensated affected users and has <\/span><span data-preserver-spaces=\"true\">since<\/span><span data-preserver-spaces=\"true\"> maintained operations while pursuing public listing efforts.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"ja\" dir=\"ltr\">Coincheck Group N.V.\u306eNASDAQ\u4e0a\u5834\u306e\u304a\u77e5\u3089\u305b<a href=\"https:\/\/t.co\/2kEZo6JCBq\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/2kEZo6JCBq<\/a><a href=\"https:\/\/twitter.com\/NasdaqExchange?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@NasdaqExchange<\/a><\/p>\n<p>\u2014 Coincheck(\u30b3\u30a4\u30f3\u30c1\u30a7\u30c3\u30af) (@coincheckjp) <a href=\"https:\/\/twitter.com\/coincheckjp\/status\/1866620632009728230?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">December 10, 2024<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Initially targeting a public debut in 2023, Coincheck confirmed its Nasdaq listing plans in October 2022, with an intended launch in July 2023. However, adjustments to the merger agreement led to an extension into 2024. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The US Securities and Exchange Commission approved its Nasdaq listing in early November, allowing the company to proceed.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Coincheck\u2019s merger with Thunder Bridge ultimately generated approximately $31.6 million in gross proceeds for the newly combined entity, marking a key milestone in its expansion strategy. <\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Japan Considers Approving Bitcoin ETFs<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Recently, it was reported that the Financial Services Agency (FSA) of Japan <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/news\/japan-considers-approving-bitcoin-etfs-can-reduce-crypto-tax-from-55-to-20\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">may lift the ban on\u00a0Bitcoin<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0spot exchange-traded funds (ETFs) and approve it sooner rather than later.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Japan is also considering the reclassification of cryptocurrencies.\u00a0Currently, digital assets are treated as payment instruments under the Payment Services Act (PSA).\u00a0In the future, crypto <\/span><span data-preserver-spaces=\"true\">maybe<\/span><span data-preserver-spaces=\"true\"> classified under Financial Instruments and Exchange Act (FIEA). <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The regulatory shift comes amid <\/span><span data-preserver-spaces=\"true\">growing<\/span><span data-preserver-spaces=\"true\"> adoption of digital assets in the country. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Last month, Japanese energy consulting firm Remixpoint expanded its cryptocurrency portfolio. It <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/news\/japans-remixpoint-invests-3-2m-to-add-33-btc-to-its-crypto-holdings\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">acquired an additional 33.34 Bitcoin (BTC)<\/span><\/a><span data-preserver-spaces=\"true\"> for 500 million yen ($3.2 million).<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/ai-agent-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Top 10 AI Agent Crypto Coins to Buy in 2025<\/span><\/a><\/strong><\/p>\n<p>\u00a0<\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">Coincheck\u2019s revenue surged 75% in Q3, reaching $782 million, following its merger and Nasdaq listing.<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">Despite strong revenue growth, the exchange reported a $98.1 million net loss due to high administrative costs.<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">The merger with Thunder Bridge Capital secured $31.6 million in gross proceeds.<\/span>    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/coincheck-sees-75-revenue-surge-following-nasdaq-listing-and-merger\/\">Coincheck Sees 75% Revenue Surge Following Nasdaq Listing And Merger<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Japanese cryptocurrency exchange Coincheck recorded a significant 75% increase in revenue during its fiscal third quarter, a surge attributed to its recent merger and successful Nasdaq listing. According to its earnings report for the period spanning October 1 to December 31, Coincheck\u2019s revenue soared to $782 million, up from $447 million in the previous quarter. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12865","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12865"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12865\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}