Strategy's $8.23B loss and Bitcoin accumulation
Translation:Perte de 8,23 milliards de dollars de Strategy et accumulation de Bitcoin
But we might keep "Strategy" as is. Also "Bitcoin" is same. Next paragraph:Strategy's Q2 loss is eye-popping, but the company didn't stop buying. It added 846 BTC during the quarter, bringing its total hoard to over 226,000 coins. Total revenue came in at $122 million, up 6.9% from $114.5 million a year ago. Gross profit hit $81.6 million, a 69% margin — slightly better than the $78.7 million in Q2 2025.
Translation:La perte de Strategy au T2 est impressionnante, mais l'entreprise n'a pas cessé d'acheter. Elle a ajouté 846 BTC au cours du trimestre, portant son trésor total à plus de 226 000 pièces. Le chiffre d'affaires total s'est élevé à 122 millions de dollars, en hausse de 6,9 % par rapport à 114,5 millions de dollars il y a un an. La marge brute a atteint 81,6 millions de dollars, soit une marge de 69 % — légèrement supérieure aux 78,7 millions de dollars du T2 2025.
Note: "eye-popping" -> "impressionnante" or "spectaculaire"? "impressionnante" works. "hoard" -> "trésor" or "réserve"? "trésor" is fine. "coins" -> "pièces" but for Bitcoin, we can say "BTC" or "pièces". Better to say "plus de 226 000 BTC" but they said "coins" so we can say "pièces" or "BTC". I'll use "BTC" for clarity. Also "Q2 2025" - but wait, the article is from 2025? Actually the original says "Q2 2025" but that seems odd because it's a future date? Actually the article is about Q2 results, likely 2025? But the original says "Q2 2025" - maybe it's a typo? Actually the original says "slightly better than the $78.7 million in Q2 2025" - that seems like a mistake because it's comparing to previous year? Possibly it's Q2 2024? But we'll keep as is. In French, we keep the year as is. Next:The company also trimmed its convertible debt to just under $7 billion and boosted its U.S. dollar holdings. Bitcoin per share rose 5%, and dollar per share increased 12%. CEO Phong Le said the company's objective is for STRC to trade at $99–$100; if it stays below $100, they'll buy back shares. Executive chairman Michael Saylor said they're still evolving the business model and working to establish Digital Credit as a new asset class.
Translation:L'entreprise a également réduit sa dette convertible à un peu moins de 7 milliards de dollars et augmenté ses avoirs en dollars américains. Le Bitcoin par action a augmenté de 5 % et le dollar par action de 12 %. Le PDG Phong Le a déclaré que l'objectif de l'entreprise est que STRC se négocie entre 99 et 100 dollars ; s'il reste sous les 100 dollars, ils rachèteront des actions. Le président exécutif Michael Saylor a déclaré qu'ils continuent de faire évoluer le modèle économique et travaillent à établir le crédit numérique comme une nouvelle classe d'actifs.
Note: "trimmed" -> "réduit", "convertible debt" -> "dette convertible", "boosted" -> "augmenté", "U.S. dollar holdings" -> "avoirs en dollars américains", "Bitcoin per share" -> "Bitcoin par action", "dollar per share" -> "dollar par action", "STRC" is ticker, keep as is. "buy back shares" -> "rachèteront des actions". "Digital Credit" -> "crédit numérique" but it's a specific term, maybe keep "Digital Credit" as is? Since it's a proper noun? The original says "Digital Credit" as a new asset class, so we can translate as "crédit numérique" but it might be a brand? Actually it's a concept. I'll translate as "crédit numérique" but keep "Digital Credit" in quotes? Better to keep as is? The requirement says keep proper nouns, but this is not a proper noun, it's a term. I'll translate as "crédit numérique" but note that it might be a specific name. I'll keep "Digital Credit" as is because it's a term they are establishing. Actually the requirement says "Keep proper nouns (names, company names) in original form" - so "Digital Credit" is not a company name, but it's a term. I'll translate it as "crédit numérique" but it might be ambiguous. Let me check: In the context, they are working to establish "Digital Credit" as a new asset class. It's likely a term they are coining. I'll keep it in English but maybe with a translation? I'll translate as "crédit numérique" but then it's not a proper noun. I'll keep it as "Digital Credit" in quotes? Actually the requirement says "Use appropriate French terminology for crypto/tech terms" - so we should translate technical terms. "Digital Credit" is a term, so we can translate as "crédit numérique". I'll do that. Next:Coinbase's revenue decline and USDC milestone
Translation:Baisse des revenus de Coinbase et étape importante pour l'USDC
"milestone" -> "étape importante" or "jalon". I'll use "jalon" maybe. "Baisse des revenus de Coinbase et jalon pour l'USDC" but better: "Baisse des revenus de Coinbase et étape importante pour l'USDC". Next paragraph:Coinbase's Q2 wasn't all bad news. Subscription and services fees — now nearly half of net revenue — slipped just 5%. But consumer transactional revenue dropped 20% from Q1, mirroring the broader 24% decline in crypto spot trading volume. EBITDA came in at $208 million
