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Sweden’s online gambling sector to hit €2bn/yr by 2027, driven by growing adoption of cryptocurrencies Riksbank is wary of crypto’s role despite market growth Cryptocurrencies are increasingly popular in Swedish online gambling sites The online gambling sector in Sweden is poised for significant growth in the coming years, with projections indicating revenue reaching €2 billion annually by 2027. This forecast underscores the robust expansion of the Swedish online gambling market, driven by evolving customer preferences and market dynamics. Riksbank’s stance on cryptocurrencies Despite the optimistic outlook for the online gambling sector, the Swedish central bank’s skepticism towards cryptocurrencies remains evident. Riksbank Governor Erik Thedeen has expressed reluctance towards incorporating Bitcoin (BTC) and other cryptocurrencies into the country’s financial system. Thedeen emphasizes the speculative nature o...

Mizuho analyst forecasts up to $652 million in revenue for Coinbase in Q3. Dan Dolev continues to see sharp downside in the crypto stock to $27. Coinbase shares are already down roughly 35% versus their YTD high. Mizuho lowered its quarterly revenue estimate for Coinbase Global Inc on Wednesday. Its shares are down 1.0% at writing. Dan Dolev shares his view on Coinbase Dan Dolev now expects the crypto exchange to report revenue about 7.0% below his previous forecast for the third quarter. On Wednesday, he said in a research note to clients: We expect dwindling volumes combined with an expected drought in retail trading to meaningfully weigh on 3Q revenue. Note that Bitcoin trading volatility tanked to the level last seen over four years ago in August. The Mizuho analyst is, therefore, convinced that the Nasdaq-listed firm will come in about 10% shy of consensus estimate for revenue in its Q3. Coinbase shares are currently down 35% versus their year-t...