Soccer runs on passion. Crypto runs on conviction.Turns out, they sound the same when 80k people are cheering.To kick off our 4th season with @BVB, we gave 3 diehard fans and Coinbase users a matchday they'll never forget.Because real partnerships live in moments like this. https://t.co/CCoNbhhuXR ...

Core Insights - The Base network founder Jesse Pollak is discussing the potential launch of a native Base token, which has garnered significant attention in the crypto community, particularly as it would be the first blockchain token launched by a publicly traded company, Coinbase [1][2]. Token Design and Shareholder Value - The Base token's design must enhance shareholder value while rewarding the Base community, differing from traditional token generation events that prioritize launch value over long-term stability [2][3]. - AJC emphasizes that simply incentivizing DeFi metrics would attract short-term capital but would not contribute to sustainable growth; instead, the focus should be on promoting social and consumer engagement [3]. Community Engagement and Launch Strategy - There are calls for a fair and sustainable launch that rewards developers and active users within the ecosystem, with suggestions for a community-driven model to avoid hype-driven volatility [4][5]. - Investor Hnwcrypto proposed that the Base token should be launched before the end of 2025 to take advantage of favorable market conditions [4]. Speculation on Airdrop Plans - Coinbase CEO Brian Armstrong confirmed the exploration of a native token, which has led to speculation about an airdrop similar to previous Layer-2 launches, likely rewarding early participants and supporters of the Base community [6].

Core Viewpoint - Several cryptocurrency companies are competing to launch tokenized products linked to stocks, raising concerns among traditional financial institutions and regulatory experts about potential risks to investors and market stability [1][2]. Group 1: Market Trends - The cryptocurrency industry is seizing opportunities amid increasing global enthusiasm, particularly following support from former President Trump and favorable regulatory policies [1]. - Companies like Robinhood, Gemini, and Kraken have launched tokenized stock products in Europe, while Coinbase and others seek regulatory approval to introduce similar offerings in the U.S. [1]. - As of September, the total value of tokenized public stocks available to retail investors reached $412 million, a significant increase from just millions a year prior [1]. Group 2: Product Characteristics - Despite marketing claims of being "stock-like," many tokenized products offer fewer shareholder rights, lower disclosure levels, and weaker investor protections compared to traditional stocks, resembling higher-risk derivatives [2][3]. - Some tokenized stocks are issued on blockchain technology, while most remain linked to listed companies and are issued by third-party entities like Ondo Global Markets and Dinari [2]. Group 3: Regulatory Landscape - There is no consensus on the regulatory framework for tokenized stocks, with varying rights and protections across different products [3]. - Tokenized products typically do not grant ownership, voting rights, or traditional dividend income, exposing investors to counterparty risks from token issuers [3]. - The SEC is considering providing securities rule exemptions for potential issuers, but this has faced opposition from major Wall Street firms [5]. Group 4: Investor Protection Concerns - The World Federation of Exchanges has called for stronger regulation of tokenization due to insufficient investor protections and liquidity fragmentation [6]. - Some companies, like Kraken, claim their tokenized products adhere to traditional securities regulations and fulfill investor disclosure obligations [6].

Core Insights - Robinhood Markets has seen a remarkable 288.6% increase year-to-date, driven by strong trading revenues and growth from its Robinhood Gold subscription service, along with its recent addition to the S&P 500 [1] - BTIG has initiated coverage of Coinbase Global with a buy rating and a $410 price target, highlighting its strong subscription and services revenue as a key growth driver [2] - Coinbase is recognized for having the most comprehensive suite of products in the crypto space, with notable developments in stablecoin adoption, payments, and its new Base blockchain [2] Financial Performance - Coinbase generated nearly $1.5 billion in revenue in the latest quarter, with adjusted EBITDA of $512 million, and is projected to reach a record $7.318 billion in revenue for FY 2025 [4] - BTIG forecasts a 23% growth in Subscription and Services revenue for FY 2025, followed by an additional 14% in FY 2026, supported by staking rewards and the Coinbase One subscription service [3] Market Positioning - Coinbase's price-to-earnings ratio stands at 36x, making it cheaper than Robinhood (76x) and Interactive Brokers Group (36.3x), while being one of the few profitable domestic crypto firms [5] - The crypto industry remains volatile, with Bitcoin reaching new all-time highs, which may lead to cautious investor sentiment despite Coinbase's strong growth potential [6]

Market Overview - U.S. equities experienced a pullback on October 7, 2025, following a seven-day winning streak, with major indexes retreating as investors reacted to corporate news, political uncertainty, and a reassessment of AI sector valuations [1][9] - The S&P 500 declined by 0.4%, the Nasdaq Composite fell by 0.7%, and the Dow Jones Industrial Average slipped by 105 points or 0.2%, indicating a pause after a strong rally driven by AI advancements and expectations of easier monetary policy from the Federal Reserve [2][9] Economic and Political Context - The ongoing U.S. government shutdown, now in its seventh day, has delayed the release of key economic data, including the September jobs report, creating uncertainty in the market and complicating Federal Reserve policy decisions [3][9] - Safe-haven assets, such as gold, saw increased demand, with futures surging above $4,000 per ounce, reflecting investor caution amid inflation pressures and geopolitical tensions [3] Corporate Developments - Oracle's shares dropped over 5% due to lower-than-expected margins in its cloud business and losses on Nvidia chip rentals, contributing to the Nasdaq's decline [5] - Tesla's stock fell 4.4% after introducing a low-cost version of its Model Y SUV, raising concerns about margin compression [5] - Advanced Micro Devices (AMD) shares rose nearly 4% following a partnership with OpenAI, which is purchasing several generations of AMD's AI chips [5] - AppLovin's shares surged 7.6% after a significant drop the previous day, as the SEC investigated its data-collection practices [5] - Constellation Brands' stock increased over 3% after reporting smaller-than-expected quarterly sales declines, although it lowered its full-year profit outlook [5] - IBM's stock jumped 3% after announcing a partnership with Anthropic, highlighting ongoing interest in AI collaborations [5] - Comerica's shares rose 13.7% following an acquisition agreement by Fifth Third Bancorp valued at $10.9 billion, while Fifth Third's stock fell 1.4% [5] Upcoming Events - The third-quarter earnings season is set to begin, with major banks like JPMorgan Chase, Citigroup, and Wells Fargo scheduled to report results, with analysts estimating a year-over-year earnings growth rate of 7.9% for S&P 500 companies [7] - Earnings reports from Saratoga Investment and Penguin Solutions are anticipated, with projections of $0.67 per share on revenue of $32.39 million and $0.31 per share on revenue of $341.26 million, respectively [8]

Core Viewpoint - The crypto market's impressive rally has significantly boosted shares of Coinbase (COIN), indicating strong investor interest and potential for further growth [1][2]. Company Developments - Coinbase is seeking a national trust charter from the Office of the Comptroller of the Currency (OCC) to expand its custody business, which is a strategic move to enhance its operational capabilities [3][4]. - Obtaining this charter could allow Coinbase to operate as a federally regulated trust, potentially leading to substantial growth in its banking and custody services, which are becoming increasingly important for revenue generation [4][5]. Market Position and Growth Potential - The stock has shown a remarkable performance, nearly tripling for investors who bought near the April lows, reflecting the stock's sensitivity to bullish trends in the crypto market and strong institutional capital inflows [2]. - A successful charter application could stabilize Coinbase's earnings base, providing a more consistent revenue stream and enhancing the stock's long-term growth prospects [5][6]. Valuation Insights - Current valuation ratios suggest that the market is anticipating a slowdown in growth, particularly regarding earnings, indicating that some capital will be required to support Coinbase's growth initiatives, including the charter application [8].

All right, welcome back. It's time for the market navigator. Although some crypto stocks are pulling back today, they have been on an absolute tear in recent months with Bitcoin hitting a record high on Monday.Now, if you've been on the fence, our next guest says now is the time to jump in to the crypto game and he's here to tell us how to play it either directly or indirectly. Joining us now is Bob Lang. He's the founder and chief options analyst at Explosive Options.Bob, the Bitcoin trend has caught a lot ...

Joining me now is G Squared Private Wealth's Victoria Green. She's also a CNBC contributor. Uh Victoria, I I want to start off first with the mystery chart that we've shown viewers and given to listeners here over the last half hour.What exactly is this beaten up name that you think could be poised for a bounce around earnings season. >> It's United Health, right. It it's the behemoth that's been beaten down for the last 12 months.And what we're looking at for is this is the turnaround quarter and we're rea ...

Core Viewpoint - Coinbase is seeking to expand its services by applying for a national trust company charter, aiming to enhance its custody business while maintaining regulatory clarity and oversight [2][3][4]. Group 1: Expansion Plans - The application for the charter with the Office of the Comptroller of the Currency (OCC) is intended to build on Coinbase's custody business and facilitate the launch of new products, including payments and related services [2][3]. - Coinbase emphasizes that it does not intend to become a bank, focusing instead on innovation within a clear regulatory framework [2][4]. Group 2: Regulatory Environment - The company advocates for uniform rules and regulations for the cryptocurrency market, highlighting the ongoing efforts in Congress to establish a clear market structure [4]. - An OCC charter would streamline oversight for new offerings and support the integration of digital assets into traditional finance [4]. Group 3: Market Position - Coinbase holds over 80% of the custody market share for crypto ETFs, indicating a significant role in the institutional adoption of cryptocurrency [5]. - The growth of institutional-grade custody needs is driven by the increasing institutionalization of crypto markets, particularly with the introduction of spot bitcoin ETFs [5][6]. Group 4: Market Impact - The approval of spot-crypto ETFs by the Securities and Exchange Commission has led to explosive growth in the market, with BlackRock's iShares Bitcoin Trust reaching a market capitalization of approximately $90 billion [6].

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