HBAR ETF INCOMING?Mark (@markchadwickx):🚨 BREAKING: Canary has filed a Pre-Effective Amendment to its HBAR ETF application with the SEC.This is a routine step, not an approval but shows progress.Today’s update clarifies NAV timing, custody (BitGo & Coinbase with cold/hot storage), and service providers as the https://t.co/ozMb8Th2Gl ...

今年7月华尔街见闻提及，美国总统特朗普签署了美国国会通过的首部加密货币法案，为稳定币提供了 合法性框架。随后银行、金融科技公司和支付巨头纷纷入局，探索稳定币在降低交易成本和提升效率方 面的潜力。 同时，加密公司掀起上市热潮，并在公开市场受到追捧。更引人注目的是，一些上市公司开始将公司财 库大量配置于比特币等加密资产，使自身股价与加密货币的波动紧密相连。 从稳定币立法、新兴稳定币激增，到加密货币公司IPO热潮，再到传统股票公司大举收购加密资产，四 大趋势让加密货币以前所未有的深度和广度融入传统金融体系，为行业创造了数十亿美元利润的同时， 也给投资者和监管机构带来了新的风险。 然而，这种快速融合也带来了新的挑战。稳定币的扩张可能影响银行的存款基础和放贷能力，并潜藏着 系统性风险。加密公司IPO背后的高波动性，以及上市公司"币库化"策略给二级市场投资者带来的实际 亏损，都预示着这场由加密货币驱动的金融变革远未尘埃落定。 立法突破为稳定币正名 今年7月，特朗普总统签署了一项关于稳定币的法案，这是加密货币领域首次获得国家层面的法律认 可。 稳定币是一种与美元等法定货币一对一锚定的区块链代币，通过持有现金和短期美债等流动 ...

Market Trends & Regulatory Landscape - Major cryptocurrencies are in the red, influenced by the growing risk of a government shutdown [1][2] - The Genius Act became law, providing a major boost to US crypto regulation [4] - Traditional securities exchanges are calling on global regulators to rein in the growth of tokenized securities, especially tokenized private companies [15] Company Performance & IPO - Bitgo's revenue surged nearly four times in the first half of 2025, generating $419 billion, up from a little more than $1 billion during the same period the year before [2][3] - Bitgo's net income dropped to $126 million compared to nearly $31 million a year earlier [4] - FTX bankruptcy estate will initiate distributions of around $16 billion to creditors at the end of the month [6] Tokenized Securities Platform - Ando Finance launched a tokenized securities platform that surpassed $250 million in Total Value Locked (TVL) within 48 hours of launching [9] - Ando Finance's tokenized treasuries products have seen $7 billion in inflows over the last couple of years [11] - Ando Finance's global markets platform makes US publicly traded stocks accessible to investors globally and has $300 million in assets [12] - Ando Finance is partnering with JP Morgan through its Kexus division for tokenized treasury trades and is inching closer to production roll out [22][23] Security Incident - Crypto\.com CEO Chris Marcel addressed claims that it didn't properly disclose a 2023 security incident, assuring that the incident was contained within hours and no customer funds were at risk [7][8]

Core Insights - Bolivia is experiencing a significant surge in cryptocurrency adoption, particularly with Tether's USDT being accepted by major automotive companies like BYD, Toyota, and Yamaha as a payment option [1][3] - The increase in crypto transactions is largely driven by a severe dollar shortage in Bolivia, prompting businesses to explore alternative payment methods [1] - Tether's CEO highlighted this development as a milestone, emphasizing USDT's role as a "digital dollar" for underserved populations [2] Adoption and Regulatory Changes - Bolivia's adoption of USDT skyrocketed following a landmark resolution on June 25, which officially recognized virtual assets and lifted previous bans on cryptocurrencies [4] - The regulatory shift has facilitated structured and compliant processing of crypto transactions, as noted by Bolivia's financial regulator [5] - The public sector's adoption of crypto gained momentum after March 13, 2025, when the government authorized state-owned YPFB to conduct crude oil imports using US dollars or cryptocurrencies [6] Private Sector Involvement - Banco Bisa, one of Bolivia's largest financial institutions, launched custody services for Tether's USDT in October 2024, providing customers with direct access to crypto trading and storage [7] - The Central Bank of Bolivia signed a Memorandum of Understanding with El Salvador's National Commission of Digital Assets to collaborate on crypto projects, indicating a regional shift towards viewing digital assets as a reliable alternative to traditional currency [7] Transaction Growth - Bolivia's Central Bank recorded $294 million in crypto payments during the first half of 2025, representing a 630% increase from $46.5 million in the same period the previous year [3]

FTX’s bankruptcy estate will begin its third wave of repayments on September 30, sending out $1.6 Bn and lifting total recoveries above $8Bn. Nearly three years have passed since the exchange collapsed, taking $8Bn in client assets. The payouts mark a step forward in unwinding Sam Bankman-Fried’s mess. But creditors remain divided over whether it’s enough. Moreover, could this trigger further sell-offs in the crypto markets? “It’s progress, but it doesn’t fully capture the opportunity cost,” one creditor ...

Group 1 - A trader established bullish positions in major cryptocurrencies, deploying $15 million in USDC on Hyperliquid, focusing on bitcoin (BTC), solana (SOL), Hyperliquid's HYPE token, and PUMP [1] - The cryptocurrency market has seen a decline, with Bitcoin falling over 2% below $113,000, leading to a market value drop to $2.25 trillion [2] - The recent market weakness is attributed to the dollar's resilience following dovish Fed rate cuts, contributing to bearish sentiment in the options market [3] Group 2 - Market volatility is anticipated to rise as several Federal Reserve policymakers, including Chairman Jerome Powell, are scheduled to speak, alongside the upcoming Personal Consumption Expenditures (PCE) inflation report [4] - The FTX bankruptcy recovery trust is set to distribute $1.6 billion in payments to creditors on September 30, providing relief to stakeholders affected by the collapse [5]

Core Insights - BitGo has submitted an S-1 registration to the SEC, marking a significant step towards an IPO and potential listing on the NYSE under the ticker symbol BTGO [1][2] - The filing reflects growing confidence in the cryptocurrency sector, aided by favorable economic conditions such as recent Federal Reserve interest rate cuts [2] Company Overview - Founded in 2013, BitGo is a leading independent custodian in the digital asset space, specializing in secure storage and institutional services [2][3] - The company offers a range of services including multi-signature wallets, cold storage, and compliance tools, establishing a strong reputation through partnerships and innovations [3] Financial Performance - In 2024, BitGo reported revenues of $4.19 billion, a nearly fourfold increase from $1.12 billion in 2023, driven by institutional interest in cryptocurrencies [4] - The company achieved a net income of $156.5 million in 2024, a significant recovery from a loss of $2.1 million in 2023 [5] - By mid-2025, assets under custody reached $90.3 billion, up from $60 billion at the beginning of the year, with a client base of 4,621 and total users of 1.04 million [5] IPO Strategy - BitGo's IPO will feature a dual-class share structure, allowing insiders to maintain control post-listing, classifying the company as a "controlled entity" [6] - Proceeds from the IPO are intended for technology enhancements, strategic acquisitions, employee incentives, and improving liquidity [6] Market Context - The IPO is underwritten by major banks including Goldman Sachs and Citigroup, indicating Wall Street's increasing support for blockchain ventures [7] - BitGo's filing follows a confidential S-1 submitted in July 2025, coinciding with assets surpassing $100 billion [7] Regulatory and Competitive Landscape - BitGo has enhanced its compliance efforts, securing a license from Germany's BaFin to operate under the EU's MiCA regulation [7] - The company has a $250 million insurance policy and SOC 1/2 audit certifications, addressing investor concerns regarding security and regulatory issues [8] Industry Implications - The IPO is seen as a strategic move amid a pro-crypto environment, with other companies like Bullish and Circle also going public [9] - Public status is expected to provide BitGo with greater transparency, access to capital, and the ability to attract talent, essential for competing in a rapidly growing market [10] Future Outlook - The IPO aims to enhance BitGo's visibility and flexibility, reflecting a broader industry shift from survival to expansion [11] - BitGo's focus on qualified custodianship positions it well for future growth, although regulatory challenges and market volatility remain potential hurdles [10]

BitGo has become the latest cryptocurrency company planning to enter the stock market.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The crypto custody provider filed Friday (Sept. 19) for an initial public offeri ...

Group 1 - The Chinese government supports TikTok's business negotiations and seeks a fair operating environment for Chinese companies in the U.S. [2] - The National Healthcare Security Administration has introduced new measures for drug procurement, including optimizing price control mechanisms to prevent abnormal low pricing [3] - Domestic private equity firms have increased their average positions to 78.04%, the highest level this year, with a significant rise in firms holding over 80% [4] Group 2 - The World Manufacturing Conference in Hefei, China, resulted in 735 cooperation projects with an investment amount of 380.2 billion yuan [5] - A new 500 kV fully autonomous substation has been launched in Liaoning, enhancing the safety and capacity of the local power grid [5] - Major express delivery companies in Shanghai announced price increases starting September 22, addressing issues of unhealthy competition [5] Group 3 - KPMG reported that fossil fuels still dominate the global energy structure, accounting for 87%, while renewable energy is the fastest-growing sector [6] - A gold mine discovery in Jiangsu has revealed industrial-grade gold deposits, potentially adding over 5 tons of gold resources [6] - BitGo, a cryptocurrency custody startup, reported a revenue of $4.19 billion and a profit of $12.6 million for the first half of the year [7] Group 4 - Apple has requested its major supplier, Luxshare Precision, to increase the daily production of the iPhone 17 standard version by approximately 40% [8] - Huawei has launched the "Tian Gong Plan," committing 1 billion yuan to support the HarmonyOS AI ecosystem [8] - Xiaomi has introduced a "10-year free repair" service for its air conditioners, prompting a competitive response from rival Gree [9] Group 5 - The U.S. Congress is facing a deadlock over short-term spending bills, risking a government shutdown [10] - President Trump has signed an executive order reforming the H-1B visa program, imposing a $100,000 fee for applicants [10] - Switzerland's exports to the U.S. fell by 22% in August, significantly impacting its gold exports [11] Group 6 - A global bull market is emerging in stocks and credit bonds, with the S&P 500 and Nasdaq reaching new highs [12] - Novartis is considering a price reduction proposal to be presented to President Trump by the end of the month [12] - Country Garden plans to restructure nine public market bonds, offering options including cash buybacks [13]

Core Viewpoint - BitGo, a crypto custody provider, has filed for a U.S. initial public offering (IPO) to capitalize on renewed institutional interest in digital asset infrastructure under a favorable regulatory environment [1] Company Overview - BitGo reported $90.3 billion in assets on its platform as of June 30, 2025, serving over 4,600 institutional clients and 1.1 million users across 100 countries [2] - The company supports custody for more than 1,400 digital assets and offers $250 million in insurance coverage, alongside SOC 1 and SOC 2 audits [2] IPO Structure - The IPO will allow co-founder and CEO Michael Belshe to maintain control through dual-class shares, with Class B shares granting him 15 votes each compared to one vote for Class A stock, qualifying BitGo as a "controlled company" under NYSE rules [3] Regulatory Developments - BitGo's public filing follows its expanded license from Germany's BaFin, allowing it to provide custody, trading, staking, and transfers under the EU's new MiCA framework [4] - The IPO coincides with U.S. and European banks re-entering the digital custody space, with U.S. Bancorp relaunching its crypto custody business and Deutsche Bank planning to offer custody for cryptocurrencies starting next year [5][6] Financing and Valuation - BitGo secured financing with only a minor valuation decrease compared to prior expectations, raising $100 million at a $1.75 billion valuation in August 2024 [7] - The firm had previously raised $42.5 million in a Series B funding round in 2017 [7] Historical Context - BitGo had previously explored going public in 2021 through an acquisition by Galaxy Digital, which was terminated in August 2022 due to BitGo's failure to provide audited financial statements [8]