Gemini Q1 beats expectations and triggers a $100 million BTC strategic investment, up 17%; Coinbase records a daily pullback of -7.6% after the CLARITY bill; Mubadala increases its holdings of IBIT to $566 million in Q1

ME News message, May 18 (UTC+8), according to BBX cryptocurrency concept stock information disclosures, last Friday Gemini Space Station was driven by Q1 earnings exceeding expectations and Winklevoss Capital completing a strategic investment of $100 million with 1,258 BTC; Coinbase Global on the same day retreated from the high level by -7.6%, with expectations for the CLARITY bill being quickly digested; on May 16, Abu Dhabi sovereign wealth fund Mubadala Investment Company disclosed its Q1 13F: it increased its BlackRock IBIT holdings by about 16% to 14,721,917 shares (about $566 million).

【Core Dynamic Highlights】

• Gemini Space Station, Inc. (NASDAQ: GEMI) Q1 revenue was $50.3 million (up 42% year over year, beating expectations of $47.9 million), net loss was $109 million (year over year narrower by 27%), EPS was -$0.93 (better than the expected -$1.03); Winklevoss Capital Fund completed a private placement of about 1,258 BTC for $100 million, subscribing to 7,142,857 Class A shares at $14 per share (a premium of about 153% over the $5.26 closing price); business highlights: credit card revenue +300% to $14.7 million, service and interest income +122% to $24.5 million; the market forecast covered 100 million contracts; the CFTC DCO license was approved on April 29. The stock rose more than +25% before the market opened on May 15 and closed at about +17% to $6.11.
• Coinbase Global, Inc. (NASDAQ: COIN) fell about -7.6% to $195.82 on May 15 (with May 14’s close at $212.01): after the CLARITY bill passed 15-9 in the Senate Committee on May 14, the stock rose by about +10% that same day; on May 15, a typical “buy the rumor, sell the fact” dynamic kicked in, with the probability of the Polymarket bill passing in 2026 dropping from 75% to 59%; coupled with Kevin Warsh officially taking over as Chair of the Federal Reserve (on May 14), bringing uncertainty to monetary policy, and a May 15 Form 144 internal personnel stock sale notice, accelerating capital outflows. The company also faced an exposure gap with data security incident-related cleanup costs of $180 million to $400 million during the same period.

BlackRock, Inc. (NYSE: BLK) IBIT： Abu Dhabi sovereign wealth fund Mubadala Investment Company released its Q1 2026 SEC Form 13F on May 16: as of March 31, it held 14,721,917 IBIT shares (about $565.6 million), an increase of about 2 million shares (+16%) compared with 12,702,323 shares at the end of Q4 2025; it continued the uninterrupted accumulation trend since Q4 2024, with three consecutive quarters holding more than $500 million in BTC exposure. Mubadala manages total assets of over $330 billion, and IBIT is its second-largest holding (after Arm Holdings). Another Abu Dhabi sovereign entity, Al Warda Investments (under Abu Dhabi Investment Authority), held an additional 8.2 million IBIT shares worth about $408 million at the end of 2025, and together the two reached a peak value of more than $1 billion. (Source: BBX)