Copper jumped to a record $6.58 per pound as surging demand from data centers and clean-technology projects met a tightening global supply backdrop.

Benchmark reiterated its "Buy" rating on Coinbase and raised its price target to $270 from $260, despite the company's weaker-than-expected first-quarter results, Odaily Planet Daily reported. Coinbase posted a net loss of $394 million for the quarter. Revenue totaled $755.8 million, missing market forecasts. Adjusted EBITDA came in at $303.3 million, down sharply from $929.9 million a year earlier. Shares fell about 6% after the earnings release. Benchmark said Coinbase is evolving from a cycle-driven crypto exchange into a core infrastructure provider for the onchain economy. The firm pointed to an expanding footprint across stablecoins, crypto derivatives, tokenization, DeFi, payments, prediction markets, and AI-native businesses. Rosenblatt Securities and Bernstein have also maintained favorable views on Coinbase, suggesting parts of Wall Street remain confident in the company's longer-term shift toward a platform model.

CoinDesk reported that crypto wallet provider Exodus said its business is broadening beyond a standalone wallet product into payments, according to its quarterly filing. The company is rolling out a new payments platform, Exodus Pay, and introducing a U.S. dollar stablecoin called XO Cash to support a fuller end-to-end payment workflow. Exodus said the move is an expansion of its existing offerings rather than a strategic pivot. Management said the aim is to let users send and spend digital dollars without giving up control of their private keys. The company also described XO Cash as a USD-pegged stablecoin built with AI agent use cases in mind. The shift in focus coincided with major balance-sheet changes over the quarter. Digital assets fell to about $48 million at the end of the first quarter from more than $156 million at the end of 2025, while cash and cash equivalents climbed to nearly $73 million from under $5 million. Exodus attributed the change largely to a reduction in Bitcoin. The company disclosed that its Bitcoin holdings dropped to 628 BTC from 1,704 BTC in the first quarter, a reduction valued at roughly $50 million based on figures in the report. Ethereum holdings also edged lower by 37 ETH, or about $87,000. Management said treasury actions in the first quarter were used mainly to repay loans previously secured by Bitcoin from Galaxy and to cover acquisition-related costs. Exodus said it is now debt-free following the repayments, while maintaining a long-term constructive view on Bitcoin. Alongside trimming Bitcoin, Exodus increased its Solana position. SOL holdings rose to 17,541 from 12,473, valued at about $1.65 million at the report’s reference price. Management added that as payments become a larger part of the business, it may place more weight on transaction volume and the quarterly mix between payment revenue and transaction revenue to gauge progress. Key figures (end of Q1): - Digital assets: approximately $48 million - Cash and cash equivalents: approximately $73 million - Bitcoin holdings: down from 1,704 to 628 BTC Exodus also said it completed two acquisitions during the first quarter, but did not disclose counterparties or deal values.

Odaily Planet Daily reported that eToro's latest financial disclosure showed cryptocurrency-related revenue of $2.15 billion in Q1 2026, down from $3.5 billion a year earlier. The platform also logged a 32% year-over-year drop in the number of crypto trades. Even as activity softened, eToro kept expanding its crypto footprint during the quarter, completing a $70 million acquisition of self-custody wallet provider Zengo and rolling out crypto trading services in New York. The slowdown mirrors broader industry trends. Robinhood reported roughly 50% declines in both crypto revenue and trading volume in the first quarter, while Coinbase posted a net loss of $394 million, underscoring cooling market conditions across major crypto exchanges early this year.

U.S. inflation is now rising faster than growth in Americans' paychecks for the first time in three years, The Wall Street Journal reported.

Inflation has moved back ahead of growth in Americans' paychecks for the first time in three years, The Wall Street Journal reported.

Prime Minister Narendra Modi on Tuesday urged Indians to refrain from nonessential gold purchases for the next year, saying the move would help safeguard the country's external balances. The remarks sparked an immediate selloff in local bullion markets. MCX gold retreated from the ₹1.54 lakh level to ₹1,53,200 per 10 grams, while MCX silver fell 1.53%, down ₹4,252 to ₹2,74,059 per kg. India is the world's second-largest gold consumer after China.

eToro reported a sharp slowdown in cryptocurrency trading in the first quarter, with total crypto trades falling 32% year over year, according to a financial update cited by CoinDesk. Crypto revenue came in at $2.15 billion in Q1 2026, down from $3.5 billion a year earlier. The pullback comes as broader industry growth cooled during the quarter, with peers also flagging softer crypto activity. Robinhood reported declines in both crypto revenue and trading volume, while Coinbase disclosed a first-quarter net loss of $394.1 million. Despite the slowdown, eToro continued to invest in digital assets. The company said its most significant move was the $70 million acquisition of self-custody wallet provider Zengo. eToro also advanced its U.S. footprint in New York, building on its BitLicense purchase three years ago. Chief executive Yoni Assia said buying Zengo would accelerate eToro's push to link traditional finance with on-chain infrastructure, prediction markets, perpetual contracts and the broader crypto ecosystem. He added the company plans to expand global products, invest further in on-chain technologies and grow its suite of AI-driven tools. On the balance sheet, eToro's cryptocurrency holdings edged down to $60.5 million from $62.6 million at the end of 2025. The cost of revenue tied to its crypto assets fell materially, from $3.5 billion to $2.1 billion. Outside crypto, eToro pointed to rapid growth in commodities. Commodities trading now generates 60% of trading fees, with volume up fourfold from a year earlier. The company launched round-the-clock trading last quarter for selected commodities, stocks and indices. Financial performance improved: adjusted EBITDA rose 35% year over year to $109 million, while net profit increased 37% to $82 million. Funded accounts grew 12% to more than 4 million, and assets under management climbed 15% to $17 billion. Basic net income per share was 0.98, up from 0.79. CFO Melon Shani said the quarter's results were driven by a surge in commodities trading and reflected the benefits of a diversified asset model, stronger funded-account growth and higher customer engagement. He said the company would maintain a disciplined approach aimed at creating long-term shareholder value.

Copper rallied to fresh records on Monday, settling at $6.4605 per pound after climbing more than 2% to an intraday peak of $6.509. The metal is up over 13% year to date, even as market attention remains focused on oil and gold. Positioning has turned increasingly bullish. CFTC data dated April 18 showed speculative net long copper positions jumping to 55,100 contracts from 40,200, with exposure continuing to build. Relative pricing also points to confidence in industrial demand. The copper-to-oil ratio suggests traders are leaning toward a scenario where manufacturing and infrastructure consumption outlasts the Iran-related war premium embedded in crude. Copper's surge reflects expectations of simultaneous demand from AI data centers, power-grid expansion, and electric-vehicle production.