Core Insights - Cryptocurrency is increasingly being utilized as leverage in the real estate market, allowing buyers to use it as collateral for property loans without needing to sell their digital assets [4][5] - The commercial real estate (CRE) industry is gradually adopting blockchain technology, which is expected to transform core operations such as property transactions and management [9][10] - Tokenization of real estate assets is projected to create significant economic activity, with an estimated $4 trillion of real estate expected to be tokenized by 2035, up from less than $300 billion in 2024 [11] Industry Developments - Lenders like Propy are enabling buyers to retain their cryptocurrency while purchasing properties, as the appreciation of crypto often outpaces the housing market [4] - Blockchain is seen as a secure platform for recording various real estate-related documents, including titles and deeds, which could lead to widespread adoption in the industry within the next decade [8] - The use of blockchain-based smart contracts is anticipated to enhance efficiency in property transactions, financing, and leasing [9] Financial Innovations - BV Innovation is developing a blockchain platform for transferable mortgage bonds, which could facilitate easier loan transfers between properties [12] - AI technology is being integrated with blockchain to perform risk analysis on properties, allowing banks to feel secure in transferring existing interest rates to new properties [14][15] - The combination of AI and blockchain could eliminate prepayment penalties, enabling property owners to reinvest those funds into new opportunities [13][14]

Accessibility StatementSkip Navigation This collaboration represents a strategic step forward in Pure Oil & Gas's commitment to responsible, measurable, and technology-driven energy production. Through Last Mile Production's systems and its LMCX Carbon Avoidance Token (CAT) ecosystem, Pure Oil & Gas will work to establish a transparent framework for quantifying, mitigating, and monetizing its methane and gas output. "Our partnership with Last Mile reinforces Pure Oil & Gas's focus on operational integrity, ...

Core Viewpoint - The article discusses the importance of enabling Javascript and cookies in browsers to ensure proper functionality and access to content [1] Group 1 - The article highlights that users may face access issues if they have an ad-blocker enabled [1] - It suggests disabling ad-blockers and refreshing the page to proceed [1]

Everyone talks “real world assets”If @integra_layer mirrors Ethereum’s 40x FDV/RWA multiple, it implies a $480B ecosystem potential, a $100B+ opportunity on day 1.With $12B in RWAs, $200M in annualized cashflows, and a consortium of real-estate & tokenization leaders…This might be the most fundamentally backed chain launch ever.integra. (@integra_layer):Meet Integra, a full-stack, layer 1 blockchain built by real estate asset managers with $12B+ AuM and the world’s leading tokenization companies.#Integra is ...

Bullish AF on tokenization 🫡For the first time, tokenized U.S. stocks and ETFs are available directly through https://t.co/h6nChkZymH, powered by our partnership with Ondo Finance.In our latest episode of Blockchain Bylines, @OndoFinance's Ian de Bode joins us to chat about how tokenization is a game changer for global wealth🌍 ...

🎥SPOTLIGHT: @WorldLibertyFi & @ABTC Co-Founder @EricTrump on betting on $1M BTC, fighting to make big banks "totally irrelevant," and confirming his plan to tokenize real estate.1:47 - Eric Trump's First Memory of Money3:42 - How "Debanking" Led Eric Trump to Crypto8:28 - The Danger of Hard Assets vs. Crypto's Liquidity12:18 - 'Michael Saylor Told Me to Mortgage Mar-A-Lago for Bitcoin'13:29 - Building American Bitcoin16:32 - Eric Trump's $1 Million Bitcoin Prediction20:17 - Why Eric Says the "Dam is Breakin ...

Financial Data and Key Metrics Changes - Galaxy Digital reported a record GAAP net income of $505 million for Q3 2025, with an adjusted gross profit of $728 million, indicating strong performance across its diversified model [9][10] - The firm achieved a firm-wide adjusted EBITDA of $629 million, significantly up from $211 million in Q2 2025 [11] - Cash and stablecoins on the balance sheet increased to $1.9 billion, up approximately $700 million from Q2 2025 [12] Business Line Data and Key Metrics Changes - The digital asset segment generated a record adjusted gross profit of $318 million, driven by strong trading, investment banking, asset management, and staking activities [10][15] - Assets under management and assets under stake reached over $15 billion, nearly doubling from the previous quarter, with asset management growing to approximately $9 billion [17][18] - The lending book grew to over $1.8 billion, reflecting new clients and market appreciation [16] Market Data and Key Metrics Changes - Galaxy Digital's trading volumes increased by 140% from Q2 2025, with record crypto trading volumes achieved during the quarter [15] - The firm executed a significant transaction involving the sale of over $9 billion of Bitcoin on behalf of a single client, marking one of the largest notional Bitcoin transactions ever completed [15] Company Strategy and Development Direction - Galaxy Digital is focused on expanding its digital asset offerings and enhancing its data center capabilities, with the launch of Galaxy One aimed at individual investors [7][24] - The company is strategically positioning itself to capture a broader market by integrating traditional finance with blockchain infrastructure [22][76] - The Helios data center project is a cornerstone of Galaxy's infrastructure strategy, with plans for multi-tenant capabilities and significant power capacity [36][71] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the importance of building trust and relationships in the crypto community [4][5] - The company acknowledged the challenges posed by forced liquidations in the crypto ecosystem but noted that it performed well during this period [39][41] - Galaxy Digital is committed to disciplined risk management and maintaining sufficient capital and liquidity to support long-term growth [14] Other Important Information - The firm secured a $460 million PIPE deal from a large institutional investor, which will support the development of its data center [8][13] - Galaxy Digital's asset management business is now run rate profitable, providing a solid foundation for future growth [18] Q&A Session Summary Question: Impact of forced liquidations on market structure - Galaxy Digital performed well during the liquidation events, with no credit losses and quick responses from the trading desk [39] - Market makers and leveraged retail traders were significantly impacted, leading to reduced liquidity and wider bid-ask spreads [39][40] Question: Aspirations for Galaxy One - Galaxy One aims to serve high-net-worth consumers, providing a seamless platform for managing traditional and digital assets [42][44] - The target audience includes individuals with significant wealth who have historically been underserved by traditional platforms [46][47] Question: Update on data center approvals and demand - Approval timelines for additional capacity in Texas remain uncertain, but there is positive traction in demand from large customers [50][54] - The company is optimistic about securing additional interconnection capacity and has seen increasing proactive inquiries from potential clients [53][54] Question: Financing and refinancing opportunities - Galaxy Digital expects to unlock significant capital through refinancing once the Helios project stabilizes and generates revenue [56][58] - The refinancing could potentially unlock multi-hundreds of millions of dollars of equity for future developments [58] Question: Competitive positioning in the data center market - The company is focused on execution and delivering projects on time and on budget, which is critical for long-term customer demand [66][68] - Galaxy Digital is strategically positioned with existing land and infrastructure, differentiating itself from competitors [66][68]

Financial Data and Key Metrics Changes - Nasdaq reported net revenue of $1.3 billion, an 11% year-over-year increase, with operating income rising 16% to $732 million and diluted EPS growing 19% [6][24] - Annualized recurring revenue (ARR) grew 9% to $3 billion, marking a significant milestone [6][25] - Operating expenses were $583 million, up 5% year-over-year, leading to an operating margin of 56% and EBITDA margin of 58%, both up 2 percentage points from the previous year [24][33] Business Line Data and Key Metrics Changes - Capital Access Platforms generated revenue of $546 million, up 8%, with ARR growth of 6% [25][31] - Financial Technology delivered revenue of $457 million, up 13%, with ARR growth of 12% [28][29] - Market Services achieved net revenue of $303 million, reflecting a 13% growth driven by elevated market volumes [32] Market Data and Key Metrics Changes - Nasdaq welcomed operating companies that raised $6 billion in proceeds during the quarter, with over $14 billion raised year-to-date [10] - The index franchise recorded $91 billion in net inflows over the last 12 months, including $17 billion in the third quarter [12][26] - Nasdaq-listed securities represented 53% of total industry volume, up from 49% a year ago, indicating strong market presence [18] Company Strategy and Development Direction - Nasdaq is focused on integrating technology and AI into its solutions, enhancing client engagement and operational efficiency [9][20] - The company aims to leverage its existing trading infrastructure to enable tokenized securities trading, reflecting a commitment to innovation in the digital asset space [20][40] - Nasdaq's strategic priorities include integrating, innovating, and accelerating growth across its diversified business segments [19][23] Management's Comments on Operating Environment and Future Outlook - The U.S. economy remains resilient, with mixed economic signals, but overall consumer spending has picked up [8] - Nasdaq anticipates a meaningful pickup in IPO activity in the coming quarters, supported by a robust IPO pipeline [10][11] - Management expressed confidence in achieving strategic objectives and delivering sustainable growth despite a dynamic operating environment [36] Other Important Information - Nasdaq's gross leverage ratio improved to 3.1 times, with a commitment to deleveraging and maintaining strong cash flow [34][36] - The company has surpassed its net expense efficiency target, achieving over $150 million in cost reductions [33] Q&A Session Summary Question: Digital assets and growth opportunities - Management highlighted Nasdaq's involvement in the digital assets ecosystem, emphasizing the relevance of financial technology solutions as institutional interest in digital assets grows [39][40] Question: Tokenization initiative details - The tokenization proposal aims to allow investors to settle shares in a tokenized form, with ongoing collaboration with DTCC to develop settlement paths [43][45] Question: Operating expenses and future spending - Management indicated that ongoing investments are embedded in the guidance for the year, with a consistent trajectory expected [52][53] Question: Financial crime management business performance - Management acknowledged variability in ARR growth due to implementation phases for new enterprise clients but expressed confidence in future growth [58][59] Question: Capital markets technology momentum - Strong demand for connectivity services and robust client engagement were noted as key drivers of growth in capital markets technology [64] Question: AI's impact on revenue and expenses - Management sees AI as an opportunity to drive efficiency and enhance client experiences, with a focus on product development and automation [66][70] Question: BioCatch partnership and Verafin's platform potential - Management views Verafin as a platform with the ability to integrate modern APIs, enhancing its capabilities in the anti-financial crime space [79]

Financial Data and Key Metrics Changes - Nasdaq reported net revenue of $1.3 billion, an 11% year-over-year increase, with operating income rising 16% to $732 million and diluted EPS growing by 19% [6][24][36] - Annualized recurring revenue (ARR) grew 9% to $3 billion, marking a significant milestone [6][25] - Operating expenses were $583 million, up 5% year-over-year, leading to an operating margin of 56% and EBITDA margin of 58%, both up 2 percentage points from the previous year [24][33] Business Line Data and Key Metrics Changes - Capital Access Platforms generated revenue of $546 million, up 8%, with ARR growth of 6% [25][31] - Financial Technology delivered revenue of $457 million, up 13%, with ARR growth of 12% [28][29] - Market Services achieved net revenue of $303 million, reflecting a 13% growth driven by elevated market volumes [32] Market Data and Key Metrics Changes - Nasdaq welcomed operating companies that raised $6 billion in proceeds during the quarter, with over $14 billion raised year-to-date [10] - The index franchise recorded $91 billion in net inflows over the last 12 months, with $17 billion in the third quarter [12][26] - Nasdaq-listed securities represented 53% of total industry volume, up from 49% a year ago, indicating strong market presence [18] Company Strategy and Development Direction - Nasdaq is focused on integrating technology and AI into its solutions, enhancing its competitive position and providing value to clients [9][20] - The company aims to leverage its existing trading infrastructure to enable tokenized securities trading, reflecting a commitment to innovation in the digital asset space [20][40] - Nasdaq's strategic priorities include Integrate, Innovate, and Accelerate, with a focus on cross-selling and enhancing client engagement [19][23] Management's Comments on Operating Environment and Future Outlook - The U.S. economy remains resilient, with mixed economic signals, but overall consumer spending has picked up [8] - Nasdaq anticipates a meaningful pickup in IPO activity in the coming quarters, supported by a robust IPO pipeline [10][11] - Management expressed confidence in achieving strategic objectives and delivering sustainable growth despite a dynamic operating environment [36] Other Important Information - Nasdaq's gross leverage ratio improved to 3.1x, with a commitment to deleveraging and maintaining strong cash flow [34][36] - The company completed the sale of Nasdaq Solovis, which was deemed not a strategic fit, allowing for a more focused portfolio [15] Q&A Session Summary Question: Digital assets and growth opportunities - Management highlighted Nasdaq's long-standing involvement in the digital assets ecosystem and the relevance of its financial technology solutions as institutional interest in digital assets grows [39][40] Question: Tokenization proposal details - The tokenization initiative aims to allow investors to settle orders in a tokenized form, with collaboration with DTCC for settlement paths [44][46] Question: Operating expenses and 2026 outlook - Management indicated a consistent trajectory in operating expenses, aligned with strong revenue growth and ongoing investments in technology [52][53] Question: Financial crime management business performance - Management acknowledged variability in ARR growth due to implementation phases for new enterprise clients but expressed confidence in future growth [58][60] Question: Capital markets technology momentum - Strong demand for connectivity services and data center growth were noted as key drivers for the Capital Markets Technology business [62][64] Question: AI's impact on revenue synergy targets - Management confirmed that AI solutions are expected to accelerate cross-sell efforts and enhance client workflows, supporting revenue synergy targets [75][76] Question: BioCatch partnership implications - The partnership with BioCatch is seen as a strategic move to enhance Verafin's platform capabilities and expand its market reach [79]

Financial Data and Key Metrics Changes - Nasdaq reported net revenue of $1.3 billion, an 11% year-over-year increase, with operating income rising 16% to $732 million and diluted EPS growing 19% to $0.88 [4][22][34] - Annualized recurring revenue (ARR) grew 9% to $3 billion, marking a significant milestone for the company [4][23] - Operating expenses were $583 million, up 5% year-over-year, leading to an operating margin of 56% and EBITDA margin of 58%, both up 2 percentage points from the previous year [22][32] Business Line Data and Key Metrics Changes - Capital Access Platforms generated revenue of $546 million, up 8%, with ARR growth of 6% [22][24] - Financial Technology revenue reached $457 million, up 13%, with ARR growth of 12% [22][26] - Market Services net revenue was $303 million, reflecting a 13% growth driven by elevated market volumes [30] Market Data and Key Metrics Changes - Nasdaq welcomed operating companies that raised $6 billion in proceeds during the quarter, with over $14 billion raised year-to-date [7] - The index franchise achieved record net inflows of $91 billion over the last 12 months, including $17 billion in the third quarter [9][24] - Nasdaq-listed securities represented 53% of total industry volume, up from 49% a year ago, indicating strong market presence [14] Company Strategy and Development Direction - Nasdaq is focused on integrating technology and data to enhance client services, particularly through AI-enabled solutions [5][6] - The company aims to deepen its competitive advantage by driving innovation across the financial industry [5][6] - Nasdaq's strategic priorities include integrating, innovating, and accelerating growth, with a focus on cross-selling and expanding its technology platform [15][20] Management's Comments on Operating Environment and Future Outlook - The U.S. economy remains resilient, with mixed economic signals, but overall consumer spending has picked up [5] - Nasdaq anticipates a meaningful pickup in IPO activity in the coming quarters, supported by a robust IPO pipeline [7][8] - Management expressed confidence in achieving strategic objectives and delivering sustainable growth despite a dynamic operating environment [34] Other Important Information - Nasdaq completed the sale of Nasdaq Solovis to Insight Partners, which was deemed not a strategic fit within its portfolio [11] - The company has surpassed its net expense efficiency target, achieving over $150 million in cost reductions [32] - Nasdaq's senior unsecured debt rating was upgraded from BBB to BBB+ by S&P, reflecting progress in deleveraging [15] Q&A Session Summary Question: Digital assets and growth opportunities - Management highlighted Nasdaq's long-standing involvement in the digital assets ecosystem and the relevance of its financial technology solutions as institutional interest in digital assets grows [36] Question: Tokenization proposal details - The tokenization initiative involves allowing investors to flag orders for tokenized securities, with two settlement paths being developed in collaboration with DTCC [39][40] Question: 2026 outlook and operating expenses - Management indicated a consistent trajectory in revenue growth, with ongoing investments embedded in the guidance for the full year [48][49] Question: Financial crime management business performance - The anti-financial crime business is experiencing variability in ARR growth due to the implementation of solutions for new enterprise clients [51][53] Question: Capital markets technology momentum - Strong demand for connectivity services and robust client engagement are driving growth in the Capital Markets Technology segment [55][59] Question: AI's impact on revenue and expenses - Management views AI as an opportunity to drive efficiency and enhance client experiences, with significant potential for revenue growth [60][62]