France-listed Bitcoin treasury company Capital B reported a net loss of 69.5 million euro ($78 million) for the first half of 2026, driven by a Bitcoin impairment charge of $75.8 million.The impairment reflected Bitcoin (BTC) prices as of June 30 and had no direct cash impact, according to the company’s first-half 2026 report, published Thursday.Still, Capital B’s consolidated revenue rose 3.5% year-over-year to $6.5 million, while adjusted EBITDA was negative $1.2 million. EBITDA measures a company’s earnings before interest, taxes, depreciation and amortization.The results show that the European Bitcoin treasury firm continued raising funds to fuel its Bitcoin accumulation despite the accounting losses. Capital B announced capital raises totaling $30 million in the first half of the year and increased its Bitcoin holdings by 11%, from 2,823 BTC in January to 3,139 BTC by the end of June. The company’s total holdings subsequently reached 3,538 Bitcoin by Sept. 30, marking a 25% increase from the beginning of the year. Capital B’s treasury is currently worth $290 million, ranking it as the world’s 25th-largest corporate Bitcoin treasury and Europe’s second-largest by holdings, following Germany-based Bitcoin Group, according to Bitcointreasuries.Capital B’s stock price rose by 0.5% in early morning trading on Friday, but was down 25% year-to-date, according to Yahoo Finance.In July, Capital B approved a 10-for-1 reverse stock split aimed at broadening its institutional investor base. In June, its shareholders approved up to $120 billion in financing capacity, including equity and credit instruments, to support the company’s Bitcoin accumulation strategy.Related: Bitcoin will become ‘less volatile’ and larger than gold: ‘The Bitcoin Standard’ authorCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

A US federal judge has rejected a joint request by crypto exchange Gemini and the Commodity Futures Trading Commission (CFTC) to overturn a $5 million settlement, despite the regulator’s conclusion that it would not have pursued the case under current enforcement standards.On Thursday, US District Judge Alvin Hellerstein ruled that changes in CFTC enforcement priorities and allegations of misconduct by its enforcement division did not justify overturning the January 2025 settlement. On May 27, the CFTC and Gemini jointly asked the court to overturn the settlement after an internal agency review found alleged misconduct by the regulator’s enforcement division, including reliance on a questionable whistleblower, improper regulatory pressure and efforts to prevent the disclosure of evidence.The ruling leaves intact a permanent injunction barring Gemini from making false or misleading statements to the CFTC. The settlement also prohibits Gemini from publicly denying its findings, although the regulator said in June that it would no longer enforce such restrictions.Gemini has already paid the $5 million penalty, which the CFTC previously told Cointelegraph would not be refunded even if the settlement were overturned.Judge cites Gemini’s decision to settle before trialThe case centered on how Gemini operated its Bitcoin auction. According to the January 2025 consent order, the exchange failed to disclose that some customers traded using borrowed funds, that self-trading had occurred despite safeguards and that certain traders received special fee arrangements. Gemini also submitted trading volume data without disclosing that some of the activity involved these practices.Related: Better Markets says CFTC is ‘wrong agency’ to regulate retail cryptoHellerstein said Gemini was already aware of problems with the CFTC’s case when it agreed to settle, less than three weeks before trial. Although the exchange later obtained additional internal CFTC documents, the judge ruled that the new information was not enough to overturn a settlement Gemini had voluntarily accepted.The judge also rejected the argument that President Donald Trump’s digital asset executive order and the regulator’s new enforcement approach warranted relief, saying they reflected changes in policy rather than a significant change in law.Former CFTC Chair Timothy Massad previously called the regulator’s move to reverse a settled case “extraordinarily unusual,” telling Cointelegraph that the public “deserves a better explanation.”Magazine: Can the SEC and CFTC’s pro-crypto rules be overturned? Legal opinion