BREAKING: 🇺🇸 White House digital assets report does not include details about the strategic #Bitcoin reserve. ...

Financial Data and Key Metrics Changes - The company recorded $568 million in adjusted net trading income, which translates to $9.2 million per day, marking a 50% increase from $6.1 million per day in Q2 2024 [25][11] - Adjusted EPS reached $1.53 for Q2 2025, an 83% increase compared to Q2 2024 [25] - The adjusted EBITDA margin was 65%, the highest since 2022, reflecting disciplined expense management [24][25] Business Line Data and Key Metrics Changes - Market Making contributed $451 million to adjusted net trading income, while Execution Services contributed $116 million, both reflecting strong performance against market opportunities [11] - Growth initiatives reached an all-time high of $1.3 million per day, accounting for 15% of total adjusted net trading income [11] - The ETF block business saw elevated client demand due to market volatility, particularly around Liberation Day and tariff news [11][12] Market Data and Key Metrics Changes - Mean realized volatility was 30, with the VIX averaging 24, indicating a favorable trading environment [12] - Equity TCV was up 17% quarter-over-quarter, while notional U.S. equity volumes increased by 9% [13] Company Strategy and Development Direction - The company aims to expand its market share in ETFs and digital assets, focusing on building out its European ETF block offering [12][18] - The strategic focus includes enhancing capabilities in digital assets, with plans to extend market making to additional tokens and asset classes [12][18] - The company is optimistic about the regulatory landscape, with developments like the Genius Stablecoin legislation expected to create new liquidity needs [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing retail engagement and structural trends that should support growth in the coming quarters [17] - The company sees significant opportunities in overnight equity trading and digital assets, with plans to enhance its offerings in these areas [17][18] - The leadership transition is expected to maintain continuity in core values while bringing a fresh perspective on growth opportunities [22] Other Important Information - The company repurchased $66 million worth of shares in the quarter, totaling $135 million year-to-date, with a cumulative repurchase of $1.4 billion since the program's inception [24][26] - The CEO announced retirement plans, with the CTO set to take over, ensuring a smooth leadership transition [20][22] Q&A Session Summary Question: Introduction to Aaron and transition details - The CEO provided background on Aaron, highlighting his intelligence and contributions to the firm since its inception, ensuring a smooth transition [28][34] Question: Impact of potential repeal of the order protection rule - Management indicated that the repeal could be neutral to slightly positive for the company, potentially reducing overhead costs [40][44] Question: Strategic merits of operating a hedge fund - Management acknowledged the consideration of launching a hedge fund but emphasized the cultural shift it would entail [45][48] Question: M&A opportunities and priorities - The company remains open to M&A opportunities but prioritizes internal growth and share repurchases [56][59] Question: Opportunities from stablecoin adoption - Management expressed excitement about stablecoins facilitating digital asset adoption and the company's role in providing liquidity [64][66] Question: Tokenization landscape and its implications - Management discussed the potential for tokenized equity trading, particularly for overseas clients, and the need for regulatory clarity [72][74] Question: Execution services growth drivers - Management noted the challenges of integrating multiple franchises but emphasized the focus on cross-asset development and client satisfaction [80][84] Question: Overnight trading opportunities - Management highlighted the early stages of overnight trading, primarily driven by retail, with expectations for institutional participation to grow [91][98] Question: Future organic growth initiatives - Management identified crypto and options as significant growth areas, alongside the ETF block franchise [100][102]

RT Frank Corva (@frankcorva)Today, I’ll be reporting on:1. The summations and potential verdict in the Tornado Cash trial. (Summations begin at 9:00 AM EST.)2. The Samourai Wallet devs changing their plea to “guilty.” (I’ll be at the hearings at 10 & 10:30 AM EST.)3. The White House’s Digital Assets report. (I’ll be joining a call with Sr. WH officials at 11 AM EST.)Feel free to turn on notifications to stay updated. ...

🇺🇸 White House Digital Assets Report to be publicly released TODAY 👀 https://t.co/AVZFswHSBJ ...

ALGERIA DECLARES TOTAL CRYPTO BAN UNDER NEW AML LAW- Algeria has imposed a sweeping crypto ban, outlawing ownership, trading, mining, and promotion under a law passed on July 24, per Fibladi.- The law defines crypto assets as financial property and treats their use as a criminal offense under anti-money laundering and counter-terrorism rules. That includes popular global platforms accessed via VPNs.- This includes Bitcoin, stablecoins like Tether, and all digital wallets or exchange platforms. Even holding ...

Are you prepared for July 30th?Wendy O (@CryptoWendyO):MARK YOUR CALENDERS JULY 30TH 2025.● Fed’s next interest rate decision is July 30● President’s Working Group on Digital Assets has completed the 180-day report. It will be released publicly on July 30th ...

🚨 LATEST: 90% of global finance leaders believe blockchain and digital assets will have a significant impact on finance within 3 years, according to Ripple's survey. https://t.co/GN3rbKX4Kv ...

Group 1: Overview of Bank of America and PNC Financial - Bank of America (BAC) and PNC Financial Services (PNC) are significant U.S. banks with extensive national reach, with BAC focusing on scale and diversified services, while PNC emphasizes prudent growth and regional expansion [1][2] - Both banks are positioning themselves to benefit from increasing client interest in digital assets due to favorable legislation and a crypto-friendly environment [2] Group 2: Bank of America Insights - BAC is preparing to launch a stablecoin, indicating readiness to move forward as client demand grows [3] - The bank is focusing on organic growth by expanding its physical and digital presence, planning to open over 150 financial centers by 2027 [4] - BAC's investment banking business is expected to recover as macroeconomic conditions improve, despite a weak performance in the first half of 2025 [5] - The bank's credit quality has weakened due to prolonged high interest rates, impacting asset quality in the near term [6] Group 3: PNC Financial Insights - PNC is also expanding into digital assets, partnering with Coinbase to offer secure crypto solutions for clients [7] - The bank is enhancing its business through acquisitions and partnerships, including the acquisition of Aqueduct Capital Group and a partnership with Plaid [8] - PNC acquired loan commitments worth $16 billion from Signature Bank, which is expected to strengthen its financial position [9] - The bank plans to invest $1.5 billion to open over 200 new branches across 12 U.S. cities [10] Group 4: Performance and Valuation Comparison - In 2025, BAC shares gained 9.8%, while PNC shares increased by 0.6%, with BAC outperforming the S&P 500 Index [13][16] - BAC has a forward P/E ratio of 12.01X, while PNC's is 11.75X, both below the industry average of 14.90X [16][18] - BAC increased its dividend by 8% to $0.28 per share, while PNC raised its dividend by 6% to $1.76 per share, resulting in dividend yields of 2.16% for BAC and 3.51% for PNC [18] - PNC has a higher return on equity (ROE) of 11.07% compared to BAC's 10.25%, indicating more efficient use of shareholder funds [21] Group 5: Future Growth Projections - The Zacks Consensus Estimate projects BAC's revenue growth of 5.8% and 5.7% for 2025 and 2026, respectively, with earnings expected to rise by 11.9% and 16.3% [23] - PNC's revenue is estimated to grow by 6.2% and 5.8% for 2025 and 2026, with earnings growth of 10.8% and 12.4% [26] Group 6: Investment Considerations - BAC is well-positioned for long-term capital appreciation due to its scale, digital leadership, and improving earnings outlook [29] - PNC appeals to conservative investors with its higher dividend yield and disciplined lending approach [30]

Core Viewpoint - iPower Inc. is advancing its digital asset strategy to integrate blockchain capabilities into its operations and product offerings, aiming to enhance capital efficiency and generate income from reserve holdings [1][4][5] Digital Asset Treasury Strategy - iPower plans to allocate capital towards acquiring digital assets as reserve assets, utilizing institutional-grade lending structures to generate low-risk, predictable yields while preserving principal [3] - This strategy is designed to enhance capital efficiency and align with the company's responsibilities as a publicly traded entity [4] Consumer Crypto Product Roadmap - iPower is developing consumer-focused digital asset offerings, including: - Cloud Mining Resale for simplified access to mining rewards [5] - Hardware Wallet Distribution for self-custody solutions [5] - Crypto Financial Product Referrals for curated yield and custody solutions [5] - These products aim to integrate seamlessly into iPower's existing distribution channels, emphasizing utility, education, and security [5] Platform Infrastructure - iPower is preparing a commercial SaaS platform to support cross-border e-commerce, evaluating the use of stablecoin infrastructure for faster and lower-cost international settlements [6] Positioning and Vision - iPower invites strategic partners and investors to participate in building a sustainable crypto-native infrastructure, emphasizing a balanced strategy across treasury, product, and platform layers [7][8] - The company has a long history in e-commerce logistics and fulfillment, which positions it well for future growth in the digital asset space [8]

Core Insights - BIGG Digital Assets Inc. is a leading innovator in the digital assets space, owning Netcoins, Blockchain Intelligence Group, and TerraZero, with a treasury of $24.9 million as of July 28, 2025, consisting of $6.3 million in cash and cash equivalents and $18.6 million in cryptocurrency, primarily Bitcoin [1][2][3] Group 1: Financial Performance and Outlook - Netcoins is projected to exceed $1 billion in total trading volume for 2025, with a target revenue of $12 million and expenses of $9 million [3][4] - The company has reported a trading volume of $556 million during the first half of 2025, indicating strong growth potential [2][3] - Blockchain Intelligence Group aims to achieve profitability in Q4 2025, having made significant progress in reducing operational costs and improving efficiencies [5] Group 2: Market Position and Strategy - BIGG/Netcoins will be the only publicly listed and audited Canadian crypto exchange following the acquisition of Wonderfi by Robinhood, presenting a significant opportunity to attract Canadian customers [4][16] - The company is launching a customer acquisition campaign to leverage its unique market position as a Canadian entity [4][16] Group 3: Technological Innovations and Developments - TerraZero has launched its Intraverse platform, targeting over 800 million young users familiar with platforms like Roblox and Fortnite, aiming to create immersive experiences [6][8] - The company is seeking major brand partners to enhance its commercial offerings, having previously collaborated with notable brands such as Bacardi and Estée Lauder [8][9] Group 4: Leadership and Advisory - Jonathan Vlassopulos, former Global Head of Music at Roblox, has joined as a Board Advisor to help scale the Intraverse platform, bringing extensive experience in immersive brand experiences [9][10][12]