RT BSCN (@BSCNews)WHAT ARE WRAPPED TOKENS? Wrapped tokens have become a key component of the crypto economy. Make sure you understand how they actually work... ⬇️ https://t.co/SzbNGzoSgf ...

WHAT ARE WRAPPED TOKENS? Wrapped tokens have become a key component of the crypto economy. Make sure you understand how they actually work... ⬇️ https://t.co/SzbNGzoSgf ...

Core Insights - Digital Asset Treasuries (DATs) are emerging as significant bridges between traditional finance and the crypto economy, reshaping crypto exposure through institutional-grade vehicles [1] - DATs are broadening access to crypto by simplifying the trading process and removing perceived complexities [2] - The growing acceptance of DATs indicates a transformation in global markets, blurring the lines between digital and traditional assets [6] Group 1: Accessibility and Investment Opportunities - DATs provide a familiar format for wealth managers, endowments, and high net worth individuals who are restricted from direct crypto holdings, allowing them to invest in assets like Solana or Ethereum through managed funds [3] - The recent merger of Monarq Asset Management with Mountain Lake Acquisition Corp. for $675 million, including approximately $460 million in treasury assets, highlights the increasing institutional interest in DATs [2] - The comparison of a $5 trillion loss in equity markets to the total value of all crypto assets underscores the potential for growth in digital assets as they gain mainstream acceptance [4] Group 2: Institutional Confidence and Regulatory Compliance - DATs enable custodial clarity, audited holdings, and regulated structures, which build confidence among conservative investors and compliance-driven institutions [5] - These products allow capital allocators to view crypto exposure as part of a balanced portfolio rather than a speculative investment [5] - The acceptance of DATs by banks, brokers, and asset managers signifies a broader transformation in how traditional finance perceives blockchain infrastructure [6]

Partnerships & Collaborations - Bybit 与卡塔尔国家银行集团和 DMZ Finance 合作，旨在促进机构投资者进入数字资产领域 [1] - 此次合作是与中东和非洲最大的金融机构卡塔尔国家银行集团的里程碑式合作 [2] Product & Services - Bybit 现在接受 QCDT 作为抵押品，QCDT 是全球首个获得 DFSA 批准的代币化货币市场基金 (MMF) [1] - QCDT 由美国国债支持，由卡塔尔国家银行管理，并由渣打银行在迪拜国际金融中心 (DIFC) 托管 [2] Institutional Benefits - 为机构投资者解锁高达 10 亿美元的借款能力 [2] - 增强机构信任：与卡塔尔国家银行集团的合作，得到全球银行业实力的支持 [2] - 监管清晰：QCDT 由美国国债支持，由卡塔尔国家银行管理 [2] Strategic Goals - Bybit 致力于成为传统金融和加密经济之间值得信赖的桥梁，为机构参与的下一个时代铺平道路 [3]

RT Andy (@ayyyeandy)"How do we get this thing to $50B?"When I asked Ryan Watkins for his $ENA bull case, he pretty much blew the ceiling off."I think that were in the beginning stages of creating the next mag 7 in the crypto economy" https://t.co/CG0v8O3Iju ...

Core Insights - The article focuses on the Bitwise Crypto Industry Innovators ETF (BITQ), which is managed by Bitwise, a notable firm in the cryptocurrency asset space [1]. Group 1 - BITQ aims to replicate the performance of the Bitwise Crypto Innovators 30 index, which includes companies involved in the cryptocurrency industry [1].

Core Viewpoint - Coinbase Global Inc. (COIN) has experienced an 18.9% decline in shares over the past month, significantly underperforming the industry and broader market indices [1][10]. Group 1: Company Performance - COIN is positioned to benefit from a broader range of crypto assets, international expansion, and increased market volatility [2]. - The company has been trading below its 50-day simple moving average, indicating a short-term bearish trend [4]. - In Q2 2025, COIN faced challenges due to lower trading activity and subdued crypto volatility, resulting in earnings that missed expectations for the first time in ten quarters [7]. - Despite a strong liquidity position with $9.3 billion in resources at the end of 2024, concerns about dilution and financial leverage arose after the pricing of $2.6 billion in convertible notes [13]. - COIN's return on equity was 16%, slightly below the industry average of 16.4%, while its return on invested capital was 10.2%, outperforming the industry average of 4.9% [14]. Group 2: Market Position and Strategy - Coinbase aims to enhance its market share in both U.S. spot and derivatives markets by broadening its product suite and expanding globally [8][11]. - The adoption of stablecoins is expected to further boost revenues, with the company posting positive EBITDA for eight consecutive quarters [12]. - The company aspires to onboard over a billion users into the crypto economy, investing significantly in core infrastructure and platforms [12]. Group 3: Valuation and Analyst Sentiment - COIN shares are trading at a premium P/E of 51.36X, compared to the industry's 20.65X, indicating a stretched valuation [10][17]. - The Zacks Consensus Estimate for 2025 earnings has increased by 93.6%, while the estimate for 2026 has decreased by 7.4% [15]. - The mixed analyst sentiment reflects concerns over premium valuation, declining earnings estimates, and a VGM Score of F [21].

Core Insights - MARA Holdings reported a quarterly loss of 81 cents per share, which was wider than the Zacks Consensus Estimate of a loss of 53 cents, and compared to a loss of $0.24 per share in the same quarter last year [1] - On a GAAP basis, MARA reported EPS of $1.84, a significant improvement from a loss of 72 cents a year ago, driven by a $1.2 billion gain from the fair value of digital assets [2] - Net income reached $808.2 million, marking a 505% year-over-year increase, making it the company's most profitable quarter ever [3] Financial Performance - Revenues surged 64% year over year to a record $238.5 million, driven by mining 2,358 BTC during the quarter, which was a 3% increase from the first quarter [5][6] - Adjusted EBITDA increased to $1.25 billion, reversing a loss of $483.6 million from the previous quarter and significantly higher than the $125.5 million loss in the year-ago quarter [3][6] - The cost per petahash per day decreased by 24% year over year to $28.7, while the energy cost per Bitcoin declined by 5.6% since the first quarter to $33,735 [10] Operational Efficiency - The energized hashrate grew to 57.4 EH/s, an 82% increase from 31.5 EH/s a year ago, and up 6% sequentially [8] - MARA deployed 30,000 new miners with an energy efficiency of 18.3 J/TH, emphasizing its commitment to sustainable scaling [8] - The company ended the quarter with 49,951 BTC and total liquidity of $5.4 billion, positioning it for aggressive maneuvers in the crypto economy [13] Strategic Positioning - MARA closed a $950 million upsized 0.00% Convertible Senior Notes offering due in 2032 and repurchased $19.4 million in 1% Senior Notes due 2026 at a discount, indicating prudent capital structuring [14] - The trailing 12-month adjusted Return on Capital Employed was 27%, showcasing an efficient capital reinvestment strategy [15] - The added funds will allow MARA to strategically invest in more Bitcoin, M&A opportunities, and potential debt buybacks, laying the groundwork for sustained expansion [16]

Core Viewpoint - Banxa Holdings Inc. is preparing for an annual general and special meeting to discuss a proposed arrangement for the acquisition of its shares at a cash consideration of C$1.55 per share [2][4]. Group 1: Meeting Details - The meeting is scheduled for August 28, 2025, at 10:00 a.m. Vancouver time [1]. - Meeting materials were mailed to securityholders on August 1, 2025, for those recorded as of July 24, 2025 [2]. - The agenda includes voting on annual business matters for the financial years ended June 30, 2024, and 2023, and the Arrangement Resolution [2]. Group 2: Arrangement Resolution - The Arrangement involves OSL Group Limited and OSL BNXA Acquisition Inc. acquiring all issued and outstanding shares of Banxa for C$1.55 per share [2]. - Completion of the Arrangement is contingent upon several factors, including approval at the meeting, a final court order, acceptance by the TSX Venture Exchange, and necessary regulatory approvals [5]. Group 3: Company Overview - Banxa is a leading infrastructure provider for embedded crypto, facilitating seamless integration of crypto and fiat payments for businesses [9]. - The company operates globally with a focus on enhancing payment solutions and regulatory compliance in the evolving crypto economy [9].