Thailand's Securities and Exchange Commission (SEC) is preparing new regulations to support crypto ETFs, crypto futures trading, and tokenized investment products. SEC Deputy Secretary-General Jomkwan Kongsakul stated that Thailand plans to issue regulatory guidelines for crypto ETF establishment early this year, advance crypto futures trading on the Thailand Futures Exchange (TFEX) with market maker mechanisms, and recognize digital assets as an official asset class under the Derivatives Act. https://t.co/ ...

Core Viewpoint - GBank Financial Holdings Inc. has appointed Jason Amos as Executive Vice President and Chief Technology Officer to lead the bank's technology strategy and modernization efforts towards a digital-first operating model [1][4]. Group 1: Appointment and Background - Jason Amos brings over twenty years of experience in building and leading large-scale technology platforms at global enterprises such as Microsoft, Intel Security (McAfee), and Dell, along with roles as Chief Technology Officer in various technology and fintech ventures [2]. - His expertise includes cloud platforms, cybersecurity, payments infrastructure, and emerging financial technologies [2]. Group 2: Responsibilities and Focus Areas - In his new role, Amos will oversee technology strategy, engineering execution, and platform governance, with an immediate focus on modernizing ACH processing, increasing automation, and enhancing operational resilience [3]. - He will also lead GBank's approach to incorporating digital assets and blockchain technologies, emphasizing controlled, non-custodial, and audit-aligned architectures [3]. Group 3: Company Overview - GBank Financial Holdings Inc. is headquartered in Las Vegas, Nevada, and is listed on the Nasdaq Capital Market under the symbol "GBFH" [5]. - The company serves gaming clients across the U.S. and features the GBank Visa Signature Card tailored for the gaming and sports entertainment markets, while also being a top national SBA lender operating in 40 states [5].

I'm also working to ensure America remains the crypto capital of the world. >> The crypto announcements coming out of the World Economic Forum at Davos this year are wild. >> I think what's going to happen is that after market structure passes, the banks are going to get fully into the crypto industry.>> As the global elites led by America signal, >> I think the movement towards uh tokenization is is necessary. >> Crypto adoption is growing. Adopt this technology or risk being left behind.I'm very bullish a ...

Group 1 - U.S. billionaire Mike Novogratz is launching a $100 million hedge fund through his firm Galaxy Digital, targeting the volatile digital assets market [1][3] - The fund will allocate up to 30% of its portfolio directly in cryptocurrencies, while the rest will focus on financial services companies influenced by blockchain, AI, and regulatory changes [2] - Galaxy Digital has received $100 million in commitments from family offices, high-net-worth investors, and institutional backers [3] Group 2 - Bitcoin has experienced a decline of approximately 28% from its October peak, currently trading near $90,000 [4] - Galaxy Digital, which went public in 2018, originally aimed to operate as a hedge fund but shifted towards asset management and investment banking due to market instability [5] - The company reported a profit of $505 million in the third quarter of 2025 [5]

Core Viewpoint - Delaware Life Insurance Company has become the first U.S. insurer to offer a cryptocurrency-linked investment within a fixed index annuity (FIA) by partnering with BlackRock, allowing investors to access bitcoin returns while protecting their principal [1] Group 1: Product Offering - The new FIA product will include the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index, which combines U.S. equities with bitcoin exposure through BlackRock's iShares Bitcoin Trust ETF (IBIT) [2] - The index targets a 12% volatility level using dynamic cash allocations to limit bitcoin's price swings, appealing to investors nearing retirement who typically avoid crypto markets due to risk and complexity [2] Group 2: Market Context - This launch is a response to the significant success and client demand for IBIT, enabling insurance clients to add bitcoin exposure as part of a broader indexed annuity strategy [3] - The move by Delaware Life reflects a broader trend among legacy financial institutions engaging with digital assets, bridging traditional retirement products with the crypto market [4]

Core Insights - Billionaire investor Ray Dalio warns that the global monetary system is under strain, with eroding confidence in fiat currencies and debt as stores of value [1][6] - Dalio's comments have ignited discussions among crypto traders regarding the potential impact on Bitcoin's price [1][5] Group 1: Dalio's Analysis - Dalio highlighted structural changes in the global financial order, citing shifting capital flows and central bank behavior as indicators of weakening confidence in traditional monetary assets [2] - He noted that the gold market outperformed tech markets last year, suggesting that U.S. markets lagged behind foreign markets due to changes in central bank reserve allocations [3] - Dalio warned of escalating tensions around trade imbalances potentially leading to "capital wars," where countries may become reluctant to hold each other's debt [4] Group 2: Market Reactions - The billionaire's remarks prompted mixed reactions among crypto traders, with some viewing the weakening confidence in fiat currencies as a bullish signal for Bitcoin and other digital assets [5] - Dalio previously connected the rally in gold to central bank liquidity and declining real yields, indicating a broader trend in asset performance [6]

Core Insights - Asia Broadband Inc. has completed the development of its next generation AABB Wallet App, which is set for formal launch in the first week of February 2026 [1][2][3] Group 1: AABB Wallet App - The new AABB Wallet App underwent a complete redesign and rebranding to enhance functionality and speed, with plans for future feature additions [1][3] - The digital assets development team expressed excitement about the wallet's capability to grow alongside the company's expansion plans [3] Group 2: Corporate Updates - AABB will provide a corporate update next week, detailing the status of its various projects and corporate initiatives [2] Group 3: Company Overview - Asia Broadband Inc. focuses on precious metals production and the accumulation of physical gold and silver holdings, leveraging its geographic expertise and industry contacts in Mexico [4] - The company integrates its industry operations with a disciplined financial strategy to achieve sustainable long-term growth [4] - AABB also has a digital assets segment, including a gold-backed cryptocurrency and unique NFT collections, aiming to establish its token as a stable and trusted standard of exchange [4]

Group 1: Fund Launch and Strategy - Galaxy is launching a $100 million hedge fund in Q1 2023, taking both long and short positions as Bitcoin experiences a decline from its October peak [1] - The fund will allocate up to 30% of its assets in crypto tokens, with the remainder invested in financial services stocks influenced by digital asset technologies and regulations [1] - The hedge fund represents a strategic pivot for Galaxy amid increasing volatility in digital asset markets [4] Group 2: Investment and Market Sentiment - The fund has secured $100 million in investments from family offices, high-net-worth individuals, and larger institutions, with potential for additional commitments [2] - The mix of tokens and financial services stocks in the fund is seen as a prudent investment strategy, focusing on successful crypto tokens with real-world use cases [3] - Current market sentiment is turning bearish, with a 70% chance predicted for Bitcoin's next move to reach $100,000, down from 84% earlier in the week [7] Group 3: Market Conditions and Influences - Bitcoin is trading around $88,375, reflecting a 3.1% decline on the day and a 7.1% drop over the past week [4] - The market is influenced by external factors, including trade tensions and potential tariffs, which have contributed to Bitcoin's recent price drop from $95,000 [6] - Despite the bearish sentiment, there remains a bullish outlook on Bitcoin and major cryptocurrencies like Ethereum and Solana, particularly in the context of potential Federal Reserve interest rate cuts [5]

Financial Data and Key Metrics Changes - The company reported earnings per share of $1.26, an increase of approximately 18% year-over-year on an adjusted basis [4] - Net interest income increased by 3.3% year-over-year, supported by strong consumer deposit growth [4] - Total net revenue for the fourth quarter was $7.4 billion, a 5.1% increase, while full-year net revenue reached $28.7 billion [4][13] - The return on tangible common equity was 18.4%, and the efficiency ratio improved to 57.4% year-over-year [15] Business Line Data and Key Metrics Changes - Fee income represented 42% of total net revenues and grew by 6.7% year-over-year, with broad-based strength across most fee businesses [7][16] - The Global Fund Services business generated strong fee revenue growth, with total net revenue growing at a healthy 11% CAGR since 2021 [9] - Commercial loans grew by 10.1% year-over-year, while credit card loans increased by 5.7% [15] Market Data and Key Metrics Changes - Total average deposits increased by 0.7% linked quarter to $515 billion, with non-interest-bearing deposits stable at approximately 16% of total average deposits [15] - The company experienced modest growth in commercial real estate loans after 11 quarters of decline [11] Company Strategy and Development Direction - The company is focused on restoring investor confidence and executing on three key priorities, including expense management and strategic investments in technology, sales, and marketing [4][6] - The acquisition of BTIG is expected to capture considerable revenue synergies and enhance the capital markets franchise [7][8] - The company aims to drive organic growth and maintain high returns while managing risks effectively [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic backdrop going into 2026, highlighting strong consumer performance and improving credit quality metrics [20][88] - The company anticipates total net revenue growth in the range of 4%-6% for 2026, with positive operating leverage of 200 basis points or more [18][19] Other Important Information - The company has made significant investments in digital capabilities over the past six years, which are expected to drive productivity and support future growth [71] - The company is actively monitoring potential regulatory changes that could impact the banking industry [88] Q&A Session Summary Question: Share repurchase pace and capital ratios - Management plans to gradually increase share repurchases from $100 million to $200 million, focusing on client and loan growth first [24] Question: Impact of credit card rate caps - Management estimates that over 90% of clients would be negatively impacted by a 10% rate cap on credit cards, emphasizing the importance of financial education [25][26] Question: Revenue growth expectations for 2026 - Management expects mid-single-digit growth for both net interest income and fee revenue, driven by strong business momentum [30][31] Question: Balance sheet growth outlook - Management anticipates 3%-4% loan growth in 2026, with a focus on commercial and card loans [40] Question: Digital assets organization and revenue potential - The company is exploring opportunities in digital assets, with a focus on capital markets and custody capabilities [51] Question: BTIG acquisition and capital call - The acquisition is expected to be PPNR neutral initially, with potential for margin expansion post-merger costs [100]

Financial Data and Key Metrics Changes - The company reported earnings per share of $1.26, an increase of approximately 18% year-over-year on an adjusted basis [3] - Net interest income increased by 3.3% year-over-year, supported by strong consumer deposit growth [3] - Total net revenue for the fourth quarter was $7.4 billion, a 5.1% increase year-over-year, while full-year net revenue reached $28.7 billion [3][11] - The return on tangible common equity was 18.4%, and the efficiency ratio improved to 57.4% year-over-year [12] Business Line Data and Key Metrics Changes - Fee income represented 42% of total net revenues and grew by 6.7% year-over-year, with broad-based strength across most fee businesses [5][12] - The global fund services business generated strong fee revenue growth, with total net revenue growing at a healthy 11% CAGR since 2021 [8] - Commercial and credit card loans grew by 10.1% and 5.7% year-over-year, respectively, contributing to an overall loan growth of 1.4% from the prior quarter [12] Market Data and Key Metrics Changes - The company experienced record consumer deposits this quarter, with a stable percentage of non-interest-bearing deposits at approximately 16% [12] - The investment portfolio remained at $171 billion as of December 31 [13] - The company expects total net revenue growth in the range of 4%-6% for 2026, excluding the impact of the BTIG acquisition [15] Company Strategy and Development Direction - The company is focused on restoring investor confidence and delivering strong financial results through three key priorities: expense management, organic growth, and strategic investments in technology, sales, and marketing [4][5] - The acquisition of BTIG is expected to capture considerable revenue synergies and enhance the capital markets franchise [5][6] - The company aims to drive organic growth and high returns while maintaining strong risk management practices [17] Management's Comments on Operating Environment and Future Outlook - The economic backdrop going into 2026 is broadly constructive, with expectations of continued consumer spending and improving credit quality metrics [17][86] - Management expressed confidence in the ability to achieve positive operating leverage of 200 basis points or more for the full year of 2026 [15][30] - The company is closely monitoring potential policy changes that could impact the banking industry, particularly regarding capital and digital assets [87] Other Important Information - The company has made significant investments in digital capabilities over the past six years, which are expected to drive productivity and support future growth [30][70] - The company is committed to increasing share repurchases gradually, starting from $100 million to $200 million [20] Q&A Session Summary Question: Share repurchase pace and capital ratios - Management indicated plans to gradually increase share repurchases while focusing on client and loan growth [20] Question: Impact of credit card rate caps - Management estimated that a 10% rate cap on credit cards would negatively impact over 90% of clients, but they are exploring options to assist customers [22] Question: Revenue growth expectations for 2026 - Management expects mid-single-digit growth for both net interest income and fee revenue, driven by strong business momentum [27] Question: Balance sheet growth outlook - Management anticipates loan growth of 3%-4% in 2026, with a focus on commercial and card loans [36] Question: Drivers of deposit growth - Management highlighted steady growth in consumer deposits, particularly through the Bank Smartly product, and a reduction in CDs [46] Question: Digital assets organization and revenue potential - Management is actively exploring opportunities in digital assets, particularly in capital markets and custody services, but noted that the revenue model is still developing [50] Question: BTIG acquisition and capital markets strategy - Management clarified that the BTIG acquisition is expected to enhance their capital markets capabilities and is aligned with client demand [100]