Group 1 - Strive Asset Management's shares surged 40% in overnight trading, following a 27% increase in the previous session, resulting in a year-to-date increase of 124% [1][4] - The stock rally is attributed to high-profile acquisitions and executive appointments, positioning Strive as a leading "Bitcoin treasury company" amid renewed bullish sentiment in the cryptocurrency market [4][5] - The firm announced a $1.34 billion all-stock merger with Semler Scientific, adding 5,816 Bitcoin to its balance sheet, bringing total holdings to nearly 11,000 BTC, valued at approximately $675 million [5][6] Group 2 - Strive also agreed to acquire True North, a Bitcoin media and education platform, with key appointments including Jeff Walton as Chief Risk Officer and Ben Werkman as Chief Investment Officer [6] - The company raised $750 million in May to fund Bitcoin purchases, indicating a strategic shift towards digital assets over traditional investments [6][8] - Strive's stock has shown significant volatility, previously experiencing a 32% sell-off after an SEC filing revealed plans to register 1.28 billion new shares, with analysts noting that the stock's movements can be four to five times more volatile than Bitcoin [7]

Core Viewpoint - JPMorgan Chase & Co. is allowing institutional customers to use Bitcoin and Ethereum as collateral for loans, indicating a significant shift in the banking sector's approach to digital assets [1][3]. Group 1: Initiative Details - The initiative is expected to be implemented by the end of 2025, enabling customers to pledge Bitcoin and Ethereum for secured loans [2]. - A third-party custodian will be responsible for safeguarding the pledged cryptocurrencies to ensure risk compliance [2]. Group 2: Strategic Shift - This move expands JPMorgan's previous initiative that accepted cryptocurrency-linked ETFs as loan collateral, reflecting a growing acceptance of crypto-assets by traditional banking institutions [3]. - CEO Jamie Dimon, who previously criticized Bitcoin, has softened his stance, now defending the right to buy Bitcoin while remaining skeptical about its long-term value [3]. Group 3: Industry Trends - By accepting Bitcoin and Ethereum as collateral, JPMorgan treats these digital assets similarly to traditional assets like stocks, bonds, and gold [4]. - Other financial institutions and fintech companies, such as SoFi, Robinhood Markets, and Kraken, are also integrating crypto-assets into their offerings, indicating a convergence between traditional finance and digital assets [5].

Core Insights - The stock market is experiencing new highs, with cryptocurrency mining and data center infrastructure stocks emerging as significant winners for 2025 [1] - Leading companies include IREN Ltd, Cipher Mining, Applied Digital, and Nebius, with year-to-date gains exceeding 300% [1][2] Company Performance - IREN Ltd has surged over 540% year-to-date, followed by Cipher Mining at 345%, Applied Digital at 338%, and Nebius at 323% [1] - Other notable performers include CoreWeave at 231%, Bitfarms at 209%, and TeraWulf at 142% [2] - Companies like Hut 8, CleanSpark, and Riot Platforms have also advanced over 100%, while Galaxy Digital and Marathon Holdings have seen gains of 69% and 16%, respectively [2] Industry Trends - Traditional Bitcoin miners are transitioning into data infrastructure providers, with IREN repositioning as a renewable-energy-powered data center operator [4] - Applied Digital has secured a $5 billion multi-year AI infrastructure lease and expanded capacity by 150 megawatts, indicating a shift towards stable, recurring data-hosting income [5] - Cipher Mining and Nebius are leveraging existing mining sites to meet the rising demand for AI and high-performance computing (HPC) hosting [6] Market Dynamics - The rally in these stocks is supported by rising Bitcoin prices, increasing institutional interest, and significant global investment in AI infrastructure [7] - Companies that were once solely focused on cryptocurrency are now being re-rated as hybrid plays on both digital assets and the AI boom, reflecting a structural advantage in the digital economy [7]

Read SnapShot Issue 229 now:🇯🇵 Japan may let banks trade and hold digital assets🇬🇧 BlackRock’s IBIT, the UK’s Bitcoin ETP, begins trading🇰🇷 https://t.co/hcDm4vdblb x Travel Wallet to launch a fiat and crypto card🌏 Markets await U.S.-China trade developments at APEC on Oct 31— and more ...

• BlackRock — The world’s largest asset manager with $12.5T AUM, and a pioneer of the tokenization of money market funds and crypto exposure through ETFs.• Apollo — A $650B alternative asset manager and one of the most prominent names bringing private credit onchain.• Hamilton Lane — A global private markets leader with $857B AUM, pioneering tokenized private credit funds.• Brevan Howard — A $26B hedge fund recognized for its macro strategies and early institutional forays into digital assets.• Nomura / Las ...

Core Insights - XRP's first US exchange-traded fund (ETF) has surpassed $100 million in assets under management (AUM) shortly after its launch, indicating strong institutional interest in regulated digital asset exposure [1][2] - The fund, launched in September, provides direct spot access to XRP and reflects a significant shift towards integrating digital assets into mainstream finance [2] - Regulatory delays from the US Securities and Exchange Commission (SEC) have stalled several pending spot XRP ETF applications, impacting the approval process for new products [3] Institutional Activity - Despite regulatory challenges, institutional interest in XRP is growing, as evidenced by the CME Group's introduction of XRP options following a successful uptake of XRP futures contracts [4] - The CME Group reported over 567,000 XRP futures contracts traded, amounting to approximately $26.9 billion in notional volume, equivalent to about 9 billion XRP tokens [4] - Client demand for new options products has increased as traders look to hedge against volatility and diversify their exposure [5]

RT BSCN (@BSCNews)RIPPLE LAUNCHES RIPPLE PRIME FOLLOWING ACQUISITION OF HIDDEN ROAD- @Ripple has finalized its acquisition of Hidden Road, a non-bank prime brokerage firm recognized for providing institutional services such as clearing, financing, and prime brokerage across foreign exchange (FX), digital assets, derivatives, swaps, and fixed income markets.- Following the completion of the deal, Hidden Road has been rebranded as Ripple Prime, marking Ripple’s entry into institutional prime brokerage and mak ...

Core Points - Universal Digital Inc. has announced a financing agreement to issue up to $50 million in senior secured convertible debentures to Helena Global Investment Opportunities 1 Ltd. [1][2] - The funds will be primarily used to enhance the company's Bitcoin treasury holdings and support future digital asset initiatives [1][2]. Financing Structure - The financing will occur in up to fourteen tranches, starting with an initial tranche of approximately $3.34 million, followed by twelve tranches of about $3.64 million each, and a final tranche of approximately $3.03 million [1][2]. - The first tranche is expected to close around October 31, 2025, with subsequent tranches closing on mutually agreed dates [1]. Terms of Convertible Debentures - The convertible debentures will have a one-year term and bear an interest rate of 17.5% per annum, with interest paid in cash upon closing of the first tranche [2]. - They can be converted into common shares at Helena's option, with a conversion price equal to 100% of the closing price of the common shares on the trading day before the conversion notice, subject to a minimum price of $0.05 [2]. Use of Proceeds - The company is required to allocate 80% of the net proceeds from each tranche for purchasing Bitcoin, while the remaining 20% can be used for general working capital [6]. Warrants Issuance - Along with each tranche, the company will issue warrants to Helena, allowing the purchase of common shares equal to up to 25% of the subscription amount for each tranche, exercisable for three years [3]. Restrictions on Ownership - The conversion and subscription for additional debentures are restricted if it would result in Helena owning more than 9.9% of the common shares outstanding [5]. Company Overview - Universal Digital Inc. focuses on digital assets and aims to provide long-term capital growth through a diversified investment approach, particularly in blockchain and cryptocurrencies [10].

Core Viewpoint - The nomination of Michael Selig as the chairman of the Commodity Futures Trading Commission (CFTC) by President Trump signals a stronger focus on digital asset legislation and regulatory frameworks in the U.S. [1][2] Group 1: Appointment Details - Michael Selig is currently the chief legal advisor for the CFTC's cryptocurrency working group and has collaborated closely with SEC Chairman Paul Atkins [1] - Selig's appointment comes amid the Trump administration's efforts to enhance the regulatory landscape for digital assets, following the passage of the "Genius Act" and the "CLARITY Act" [1] - Prior to this, Trump had nominated Brian Quintenz for the CFTC chair position, but the nomination stalled due to opposition from Tyler Winklevoss [1] Group 2: Regulatory Implications - Selig has been working since March 2025 to promote regulatory coordination between the SEC and CFTC in areas such as traditional finance and digital assets [1] - The appointment is viewed as a further indication of the Trump administration placing the digital asset industry at the core of its policy agenda, which may continue to influence the U.S. financial regulatory landscape and market expectations for digital assets [2]

Fundraising Overview - This week, 31 projects in the crypto space collectively raised $197 million [1] - Pave Bank secured $39 million in funding [1] - @sign raised $25.5 million [1] Pave Bank Details - Pave Bank, based in Georgia, offers programmable banking services for both fiat and digital assets [1] - Accel, WMT Ventures, and Tether participated in Pave Bank's funding round [1] @sign Details - @sign is building blockchain-based systems for money and identity [1]