BBX: Metaplanet Q1 lost $700 million but had an operating profit margin of 73.6%; eToro crypto revenue fell by 38% but net contribution increased by 19%; JPMorgan launches the JLTXX tokenized treasury fund

BBX News, Metaplanet Q1 revenue up 251%, operating profit margin at 73.6%, but a $737.6 million non-cash BTC impairment led to a net loss of $725.6 million; a certain exchange’s Q1 crypto net contribution was $13 million (-24%), total net contribution $258 million (+19%), commodity trading volume quadrupled, and the acquisition of Zengo completed; JPMorgan officially launched the JLTXX tokenized money market fund, running on the Ethereum chain, with $100 million in seed funding, designed specifically for compliance with GENIUS Act stablecoin reserves. Key points: —Metaplanet (TSE: 3350): Q1 net loss of $725.6 million ($737.6 million non-cash BTC impairment), revenue $19.5 million (+251%), operating profit margin 73.6%; holds 40,177 BTC (Q1 +5,075), BTC Yield 2.8%, third-largest globally; $302 million in credit already drawn; full-year guidance maintained; stock price -3.82%. —A certain exchange (NASDAQ: ETOR): Q1 gross crypto revenue $2.15 billion (-38%), crypto net contribution $13 million; total net contribution $258 million (+19%, above expectations); EPS $0.91 (beat $0.75); commodities account for 60% of trading commission; Zengo acquisition completed; crypto trading launched in New York. —JPMorgan (NYSE: JPM): JLTXX tokenized money market fund officially launched on May 13; Ethereum public chain + Kinexys platform; $100 million in seed funding; invests only in US Treasuries and overnight repos; specifically for GENIUS Act stablecoin reserve compliance; annual fee 0.16%; minimum investment $1 million; SEC registration effective May 13. Source: bbx.com