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Brad Garlinghouse, chief executive officer of Ripple, speaks during the CoinDesk 2022 Consensus Festival in Austin, Texas, US, on Saturday, June 11, 2022.

Jordan Vonderhaar | Bloomberg | Getty Images

Blockchain company Ripple said Thursday it received in-principle regulatory approval to operate in Singapore, in a rare moment of good news for the cryptocurrency industry globally as it faces tightening policy back home in the United States.

Ripple said that it was granted in-principle approval of a Major Payment Institution Licence from the Monetary Authority of Singapore, the country’s central bank.

The license will allow Ripple to offer regulated digital payment token products and services and expand the cross-border transfers of XRP, a cryptocurrency the company is closely associated with, among its customers, which are banks and financial institutions.

XRP was trading at around 50 cents late Wednesday evening.

Ripple, a San Francisco-based fintech company, is mostly known for XRP as well as an interbank messaging services based on blockchain, the distributed ledger technology that underpins many cryptocurrencies.

The company’s on-demand liquidity service uses XRP as a kind of “bridge” between currencies, which it says allows payment providers and banks to process cross-border transactions much faster than they would over legacy payment rails.

But Ripple also operates a blockchain-based international messaging system called RippleNet to facilitate massive transfers of funds between banks and other financial institutions, similar to the global interbank messaging system SWIFT.

The Securities and Exchange Commission charged Ripple, co-founder Christian Larsen and CEO Brad Garlinghouse with conducting an illegal securities offering that raised more than $1.3 billion through sales of XRP.

Ripple denies the SEC allegations, contending that XRP is a currency rather than a security that would be subject to strict rules.

Singapore is one of the largest currency corridors from which Ripple sends money across borders using XRP, the company said in a press release.

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A majority of Ripple’s global on-demand liquidity transactions flow through Singapore, which serves as the company’s regional Asia-Pacific headquarters, Ripple said.

Ripple has doubled its headcount in Singapore over the past year across key functions including business development, compliance, and finance, and plans to continue increasing its presence there.

MAS, the Singaporean financial regulator, was not immediately available for comment when contacted by CNBC.

The central bank was previously in the news for blasting Three Arrows Capital, the disgraced crypto hedge fund that imploded after betting billions on failed stablecoin terraUSD, for providing misleading information concerning its relocation to the British Virgin Islands in 2021.

The Asian megacity has gained a reputation over the years for being a more financial technology and crypto-friendly jurisdiction, opening its doors to a number of major companies including domestic banking giant DBS, British fintech firm Revolut, and Singapore-based crypto exchange Crypto.com.

Garlinghouse is due to speak at the Point Zero Forum in Zurich, Switzerland, next Wednesday to “discuss the resurgence of innovation in digital assets through investment and thoughtful regulation,” the company said.

It comes on the heels of Ripple’s $250 million purchase of Metaco, a crypto custody services firm, to expand its reach in the Swiss market and diversify away from its home in the U.S. Recently, Ripple’s Garlinghouse said the firm will have spent more than $200 million in legal fees by the time its legal battle with the SEC is wrapped up.

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Super Micro shares plunge 15% on weak results, disappointing guidance

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Super Micro shares plunge 15% on weak results, disappointing guidance

Charles Liang, CEO of Super Micro, speaks at the Computex conference in Taipei, Taiwan, on June 1, 2023.

Walid Berrazeg | Sopa Images | Lightrocket | Getty Images

Super Micro Computer shares slid 15% in extended trading on Tuesday after the server maker reported disappointing fiscal fourth-quarter results and issued weak quarterly earnings guidance.

Here’s how the company did in comparison with LSEG consensus:

  • Earnings per share: 41 cents adjusted vs. 44 cents expected
  • Revenue: $5.76 billion vs. $5.89 billion expected

Super Micro’s revenue increased 7.5% during the quarter, which ended on June 30, according to a statement.

For the current quarter, Super Micro called for 40 cents to 52 cents in adjusted earnings per share on $6 billion to $7 billion in revenue for the fiscal first quarter. Analysts surveyed by LSEG were looking for 59 cents per share and $6.6 billion in revenue.

For the 2026 fiscal year, Super Micro sees at least $33 billion in revenue, above the LSEG consensus of $29.94 billion.

Super Micro saw surging demand starting in 2023 for its data center servers packed with Nvidia for handling artificial intelligence models and workloads. Growth has since slowed.

The company avoided being delisted from the Nasdaq after falling behind on quarterly financial filings and seeing the departure of its auditor.

As of Tuesday’s close, Super Micro shares were up around 88% so far in 2025, while the S&P 500 index has gained 7%.

Executives will discuss the results on a conference call starting at 5 p.m. ET.

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Hinge Health stock pops 6% after first quarterly report since IPO

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Hinge Health stock pops 6% after first quarterly report since IPO

Hinge Health co-founders, Gabriel Mecklenburg and Daniel Perez celebrate its initial public offering at the New York Stock Exchange on May 22, 2025.

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Shares of Hinge Health popped 6% in extended trading on Tuesday after the digital physical therapy company reported quarterly results for the first time since its debut on the New York Stock Exchange in May.

Here’s how the company did based on average analysts’ estimates compiled by LSEG:

  • Loss: Loss per share of $13.10. That may not compare with the 9 cents per share earnings expected
  • Revenue: $139 million vs. $125 million expected

Revenue at Hinge increased 55% in the second quarter from $89.8 million during the same period last year, according to a release.

Hinge reported a net loss of $575.65 million, or $13.10 per share, compared to a loss of $12.93 million, a loss of 96 cents per share, during the same period a year earlier. The company said its GAAP loss from operations was $580.7 million, which included $591.0 million from stock-based compensation expenses.

“We’re still introducing ourselves to the world,” Hinge CEO Daniel Perez told CNBC in an interview on Tuesday. “The most important thing I’d hope for people to take away is the long-term potential of using software and connected hardware to automate care delivery itself.”

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Hinge, founded in 2014, uses software to help patients treat acute musculoskeletal injuries, chronic pain and carry out post-surgery rehabilitation remotely.

It finished the second quarter with 2,359 clients, up 39% from 1,785 clients during the same period last year.

Hinge said it expects to report revenue between $141 million and $143 million during its third quarter. LSEG analysts were expecting $129 million. For the full year, the company said it expects revenue of $548 million to $552 million, which also beat the $511 million expected by LSEG analysts.

The stock opened at $39.25 in May, rising 23% from its $32 IPO price. Shares of Hinge closed at $48.22 on Tuesday.

“We believe we’re fundamentally reshaping how care can be delivered more effectively and efficiently,” Perez said during the company’s quarterly call with investors.

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AMD reports weaker-than-expected earnings even as revenue tops estimates

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AMD reports weaker-than-expected earnings even as revenue tops estimates

Lisa Su, CEO of Advanced Micro Devices, and Sam Altman, CEO of OpenAI, testifiy during the Senate Commerce, Science and Transportation Committee hearing titled “Winning the AI Race: Strengthening U.S. Capabilities in Computing and Innovation,” in Hart building on Thursday, May 8, 2025.

Tom Williams | CQ-Roll Call, Inc. | Getty Images

Advanced Micro Devices reported quarter earnings on Tuesday that missed estimates. The stock slid about 4% in extended trading.

Here’s how the chipmaker did versus LSEG expectations for the quarter ended June:

  • Earnings per share: 48 cents adjusted versus 49 cents expected
  • Revenue: $7.69 billion versus $7.42 billion expected

For the current quarter, AMD expects sales of $8.7 billion, plus or minus $300 million, versus expectations of earnings of $8.3 billion.

AMD reported net income during its fiscal second quarter of $872 million, or 54 cents per share, increasing from $265 million, or 16 cents per share in the year-ago period. Nvidia’s overall sales rose 32% in the period from $5.84 billion a year earlier.

AMD is the second-biggest maker of graphics processing units (GPUs) for artificial intelligence behind Nvidia, which has the vast majority of the market. But big AI customers such as Meta and OpenAI are increasingly looking to AMD to provide an alternative to Nvidia’s pricey chips, especially for inference, or when AI models are deployed to the public.

During the quarter, AMD announced new AI chips called the MI400 that are expected to hit the market next year. OpenAI CEO Sam Altman committed to using AMD’s newest GPUs.

AMD is also grappling with chip export controls which have been placed on some of its AI chips because the U.S. government worries that powerful GPUs could be used by adversaries to surpass American capabilities or be used for military purposes.

The MI308 was previously barred for export to China in April, which the company said cost it $800 million in the June quarter. However, the company said in July that it expected shipments to resume after the Trump administration signaled that it would approve waivers. AMD said its outlook doesn’t include any revenue from its China-focused AI chip called the MI308 and its license applications are currently being reviewed by the Department of Commerce.

AMD’s adjusted gross margin during the quarter was 43%. The company said it would have been 54% if not for export control costs.

AMD’s main business, aside from GPUs, is making central processors, called CPUs, which compete with Intel to power more traditional servers.

Both are reported in the company’s data center segment, which had $3.2 billion in revenue, up 14% on an annual basis.

The other major segment for AMD is called Client and Gaming, which includes the company’s CPUs for laptops and desktops, and its GPUs for 3D gaming. That was up 69% on an annual basis to $3.6 billion. Client revenue by itself rose 57% to $2.5 billion, in line with the StreetAccount expectations of $2.56 billion, partially driven by strong demand for the company’s latest desktop CPUs, which it calls AMD Ryzen Zen 5.

Gaming revenue by itself was up 73% year-over-year to $1.1 billion, versus StreetAccount estimate of $784 million, with its growth due to increased demand for custom chips for game consoles and gaming GPUs, AMD said.

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