$Coinbase Global, Inc.(COIN)$
US Stock Futures, Commodities and Cryptocurrency Jumped, As Strait of Hormuz Reopens
Al Hadath sources say understandings have been reached to ease the blockade in exchange for a gradual reopening of the Strait of Hormuz, with intensive talks ongoing to restore transit. Arabic sources report that the coming hours may bring a breakthrough regarding ships currently stuck in the strait.
Spot silver rose 2.66% to $79.42 per ounce; spot gold rose 1% to $4,741.25 per ounce.
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$Circle Internet Corp.(CRCL)$
Circle Internet Corp. (CRCL) saw its shares plummet 6.13% during intraday trading on Thursday, extending a recent downward trend for the cryptocurrency-focused financial services company.
The decline follows the company's weaker-than-expected first-quarter 2026 results, released earlier in the week. Circle reported Q1 revenue of $694 million, which fell short of analyst estimates of $715 million. Earnings per share also declined to $0.19, down from $0.30 in the year-ago quarter and $0.43 in the prior period, reflecting significant margin compression.
Adding to negative sentiment, a director at Circle Internet Group sold 1,200 shares on May 13, just before the stock's decline. Market analysts also point to ongoing headwinds for the company, including declining interest rates that are squeezing reserve yields, cooling crypto trading sentiment, and regulatory uncertainty surrounding U.S. stablecoin legislation.