NEW: Small businesses can now accept #Bitcoin just like a card with zero processing fees with Jack Dorsey’s Square, starting Nov. 10.Bullish 🚀 https://t.co/wSaUzNaeR0 ...

Market Trends & Crypto Performance - Crypto majors experienced declines following Trump's trade war confirmation; Bitcoin decreased by 1% to $111,100, Ethereum decreased by 1% to $4,040, BNB decreased by 1% to $1,170, and SOL decreased by 4% to $195 [1] - Gold increased by 1% to $4,260 [1] - Memecoin leaders mostly declined; DOGE decreased by 2%, Shiba decreased by 2%, PEPE decreased by 4%, PENGU decreased by 4%, BONK decreased by 4%, TRUMP decreased by 3%, SPX decreased by 5%, and FARTCOIN decreased by 4% [3] Regulatory & Institutional Developments - Erebor Bank, backed by Palmer Luckey and Peter Thiel, secured a conditional federal bank charter, aiming to operate as a stablecoin-era crypto bank under the GENIUS framework [1] - Sony Bank applied for a national trust charter to issue USD stablecoins and offer custody services [1] - Kraken acquired Small Exchange for $100 million, gaining a license to offer derivatives trading in the US [1] - The UK moved to repay Chinese victims of a $7 billion Bitcoin fraud [1] Token & Protocol Updates - Launchcoin decreased by 23% to $78 million after Pasternak announced plans to increase the token supply by 33% to 133 billion and a flywheel to buy BELIEVE [3] - MegaETH opened registration for a public ICO, open for 12 days [3] - Jupiter announced changes for its JUP token including scaling down the DAO, dropping unstaking window from 30 days to 7 and voting to burn current JUP buyback [3] - Tether's USDT0 and XAUT0 launched on Solana, powered by LayerZero [3] NFT Market - OpenSea announced that its Wave 1 is locked and Treasure Chests claimable by Oct 17 with $122 million in prizes; Wave 2 runs Oct 15 - Nov 15 with $1 million in tokens added to prize pool [3] - Plush Pepe 7 sold for 25,000 TON ($55,250) on Portals marketplace in Telegram [3] Corporate Treasury & ETF Flows - Bitcoin ETFs experienced $1041 million in net outflows on Wednesday; Ethereum ETFs saw $1696 million in net inflow [1]

Bitcoin Integration - Square 自 2018 年在 Cash App 推出比特币以来，一直致力于将比特币整合到其生态系统中 [1] - 所有商家现在都可以通过每日销售额在后台无缝积累比特币 [1] - 比特币支付将于 11 月 10 日全面上线 [1]

Square Bitcoin a 'big test' of BTC’s future as payments network with $300 million profit upside, says Mizuho https://t.co/De5wg1lzj5 ...

Market Trends & Cryptocurrency Performance - Crypto majors are mixed and consolidating; Bitcoin holds steady at $123,000, Ethereum down 2% at $4,380 [1] - ZCash soared 38%, leading crypto movers, up over 140% in two weeks due to Grayscale access and Naval support [1] - Memecoin leaders are mostly down; DOGE -4%, Shiba -4%, PEPE -6% [1] Institutional Investment & Adoption - Luxembourg sovereign wealth fund invested 1% of its assets into Bitcoin ETFs [1] - BTC ETFs saw $440 million in net inflows, marking an 8-day inflow streak; ETH ETFs also maintained an 8-day streak with $69 million in inflows [1] - NYSE-listed DayDayCook raised $124 million targeting a 10,000 BTC treasury [1] Technology & Platform Developments - Jack Dorsey's Block rolled out Bitcoin merchant payments with Square, enabling businesses to accept BTC and convert sales [1] - Jupiter teamed with Ethena to launch JupUSD stablecoin on Solana [1] - Coinflow raised $25 million to expand stablecoin payments, aiming for faster merchant settlement [2] NFT Market - NFT leaders were mostly down; Punks even at 48.4 ETH, Pudgy -1% at 9.4 ETH, BAYC even at 8.81 ETH [2] - Punk Strategy experienced volatility, dropping to $100 million then rebounding to $180 million before settling at $140 million [2]

Jack Dorsey's Square Unveils Bitcoin Payments, Wallet for Retailers► https://t.co/v0eDyYDbAJ https://t.co/v0eDyYDbAJ ...

Square Announces New Bitcoin Payment Feature Update for 4 Million Merchants on November 10thhttps://t.co/9a2hxRJfqD ...

Bitcoin & Cryptocurrency - Square (Block, Inc) introduces a Bitcoin wallet solution for local businesses [1] - The solution enables businesses to accept BTC payments with zero fees [1] - Industry sentiment is bullish regarding this development [1]

Summary of SoundHound AI FY Conference Call Company Overview - **Company**: SoundHound AI (NasdaqGM:SOUN) - **Date of Conference**: September 11, 2025 - **Industry**: Voice AI and Conversational AI Key Points Technological Differentiation - SoundHound AI's foundation model, Polaris, demonstrates significant technological differentiation with 30% to 40% better accuracy compared to competitors like OpenAI's Whisper and Google [3][4] - Polaris is designed for various environments, including automotive and restaurant sectors, allowing for deployment with lower costs and smaller hardware footprints [4][6] Market Strategy and Acquisitions - The acquisition of Interactions, valued at $60 million upfront, aims to enhance growth potential and customer relationships [12][13] - Interactions has a strong customer base and a patent portfolio that complements SoundHound AI's technology, facilitating faster scaling [11][12] Growth in Conversational AI - The market for conversational AI is rapidly expanding, with a shift towards natural language interactions [8][9] - Voice AI is seen as a "killer app" that will transform human-machine interactions, particularly in customer service environments [9][10] Financial Performance and Projections - SoundHound AI has a bookings backlog exceeding $1 billion, indicating substantial growth potential within existing customer bases [41][42] - The company anticipates strong double-digit growth in the long term, driven by ongoing innovations and market penetration [43][44] Industry Dynamics - The automotive sector is experiencing a shift towards electric vehicles (EVs), which allows for faster deployment of SoundHound AI's solutions [24][26] - The restaurant sector has seen significant deployments, with approximately 14,000 locations utilizing SoundHound AI's technology [28][32] Customer Engagement and Revenue Models - Customers are increasingly focused on both cost savings and revenue uplift through AI solutions, with a dual emphasis on efficiency and upselling opportunities [34][35] - The company is exploring new revenue models, including voice commerce, which integrates restaurant and automotive sectors [36][38] Competitive Landscape - SoundHound AI positions itself against legacy providers and larger tech companies, emphasizing its unique technological capabilities and market focus [32][41] - The company is optimistic about capturing a larger share of the market, particularly in the restaurant and automotive sectors, where it sees substantial growth opportunities [27][33] Future Outlook - SoundHound AI is optimistic about its growth trajectory, with plans to leverage acquisitions and existing customer relationships to drive future success [42][43] - The company is focused on expanding its product offerings and enhancing customer engagement to sustain growth [41][44]

Investment Rating - The investment rating for the industry is "Outperform the Market" (maintained) [1] Core Insights - The report focuses on the competitive landscape and case studies of cross-border payment services, highlighting the growth and challenges in the industry [1][3][4] Summary by Sections Understanding Payment and Cross-Border Payment - Payment can be simply understood as the activity of transferring currency, which consists of three stages: transaction, clearing, and settlement [10][11] - Consumers typically only perceive the transaction stage, often referring to it as "payment" [10] Payment Industry from the Perspective of Payment Service Organizations - The payment system comprises payment service organizations, payment systems, payment tools, and payment regulation [19] - In 2024, non-cash payment transactions in China reached 576.3 billion, amounting to 54.43 trillion yuan, with bank cards accounting for 98% of transaction volume [24][25] Cross-Border Payment Case Study: Ant International - Ant International, part of Ant Group, offers a comprehensive cross-border payment service system, including products like Alipay+ and WorldFirst [101][120] - Alipay+ connects acquiring service providers and mobile payment providers, facilitating seamless transactions across various markets [110][111] Cross-Border Payment Case Study: LianLian Digital - LianLian Digital is a leading digital payment solution provider in China, focusing on cross-border payment services and has expanded its global presence [130][131] - In 2024, LianLian Digital achieved a total revenue of 1.315 billion yuan, a year-on-year increase of 27.9% [134]