Core Viewpoint - Newsmax is establishing a digital assets treasury focused on Bitcoin and the TRUMP meme coin, with plans to invest up to $5 million over the next year [1][2]. Group 1: Company Strategy - The board of directors of Newsmax has approved the acquisition of Bitcoin and TRUMP coin as part of its digital asset strategy [1]. - CEO Christopher Ruddy emphasized the importance of Bitcoin as a reserve asset and expressed optimism about the potential value of Trump Coin, linking it to the success of the Trump presidency [2]. - The company plans to make its first strategic purchase soon, although specific funding details were not disclosed [2]. Group 2: Market Performance - Newsmax shares experienced a decline of approximately 4% to $10.83 amid broader market volatility, but saw a recovery of over 4% in after-hours trading [2]. - Both Bitcoin and TRUMP coin saw price declines, with Bitcoin dropping 3% to $107,709 and TRUMP coin falling 2.1% to $5.90, which is nearly 92% off its all-time high [3]. Group 3: Industry Context - Newsmax joins other media companies, such as Trump Media, in exploring digital asset reserves, with Trump Media having previously acquired $2 billion in Bitcoin and related securities [4]. - If Newsmax were to invest the full $5 million in Bitcoin, it would only acquire about 46 BTC, which would not place it among the top 100 Bitcoin holders [4]. Group 4: Company Insights - A spokesperson for Newsmax indicated that the decision to invest in cryptocurrencies was influenced by the success of other companies in the space, and the approach will be conservative to test the waters [5]. - The spokesperson highlighted Bitcoin's status as the "gold standard" of cryptocurrency and expressed belief that Trump Coin is undervalued due to its association with a globally recognized figure [5].

Core Insights - The OCC has conditionally approved a national bank charter for Erebor Bank, marking a significant milestone as it is the first preliminary conditional approval for a de novo national bank since July 15 [1] - The OCC emphasizes its openness to banks engaging in digital asset activities, countering perceptions of hesitance in this area [2] - Erebor Bank aims to be a digital-native institution serving sectors like crypto, AI, defense, and high-growth technology, backed by notable figures in the tech industry [3] Company Overview - Erebor Bank will be headquartered in Columbus, Ohio, with a secondary presence in New York, focusing on a digital operational strategy rather than traditional physical branches [4] - The approval of Erebor Bank coincides with the U.S. government's efforts to establish a clearer regulatory framework for digital assets, highlighted by the passage of the GENIUS Act [5] Industry Context - There is a growing push for crypto-friendly legislation, as evidenced by recent actions from pro-Bitcoin Senators and New York City's initiatives to enhance its status as a digital asset hub [6]

Ripple's Expansion and Partnerships - Ripple is experiencing rapid expansion, marked by frequent updates in ROUSD and custody solutions [1] - Ripple's partnerships with Chipper Cash, Valor, and Yellow Card are facilitating cost-effective and fast money transfers across Africa [2] - Ripple is expanding its presence in the Middle East through partnerships, building on its Dubai regulatory license to accelerate crypto adoption and launch pilot projects [4] - Ripple's global custody network now includes clients across Europe, the Middle East, Asia-Pacific, Latin America, and Africa [12] - Ripple is actively collaborating with the BIS (Bank for International Settlements) on cross-border payments initiatives, aligning with G20 targets [36] ROUSD Adoption and Growth - ROUSD monthly transfer volume increased by almost 100%, specifically 8634%, in the last 30 days, reaching $585 billion [5] - Total value of ROUSD increased by 1524% in the last 30 days, exceeding $840 million [5] - ROUSD monthly transfer volume is projected to reach $6 billion in October, surpassing September's high [6] Ripple Custody and Institutional Adoption - Absa South Africa, a leading African financial institution, is Ripple's first major custody partner in Africa, bringing institutional digital asset custody to South Africa [7] - Ripple's custody solution is considered trusted and meets the highest security and operational standards, confirming its significance in the institutional market [20][21] - Ripple's custody platform enables new use cases across tokenization, digital asset management, and stablecoin issuance, with strong ties to the XRP ledger [30][31] Absa Bank's Role and Influence - Absa Bank has total assets of over 2 trillion South African Rand, approximately $120 billion [32] - Absa Bank plays an active role in shaping economic policy and amplifying Africa's voice on the global stage through its partnerships with the G20 and B20 [35]

Core Insights - Stablecoins are positioned as a transformative solution for cross-border payments, with significant potential to enhance efficiency and reduce costs in the current banking system [1][6] Group 1: Current Banking Infrastructure - The correspondent banking network processes approximately $150 trillion annually, with settlement times ranging from two to five days and transaction costs averaging between $25 to $35 [1] - Institutions are required to maintain large sums in nostro and vostro accounts globally to ensure liquidity, leading to inefficiencies that stablecoin technology can address [2] Group 2: Stablecoin Characteristics - Stablecoins are cryptocurrencies pegged to assets like the U.S. dollar or gold, playing a crucial role in cryptocurrency markets and international money transfers, with Tether's USDT being the largest stablecoin, followed by Circle's USDC [3] Group 3: Advantages of Stablecoin Solutions - Blockchain-based stablecoin solutions can reduce settlement times from days to minutes or even seconds, with transaction costs potentially decreasing by over 99% compared to traditional payment methods [4] - Lower prefunding requirements enhance capital efficiency, improving liquidity and freeing up resources that would otherwise be tied in inactive accounts [4] Group 4: Transparency and Adoption - These networks provide real-time tracking and auditability, increasing transparency and aligning with regulatory expectations [5] - Major financial institutions, such as JPMorgan, are already utilizing blockchain for significant transaction volumes, processing around $2 billion daily [5] Group 5: Market Developments - PayPal launched its own stablecoin in 2023, achieving a market capitalization of $1.17 billion, indicating a strong market demand for stablecoin-driven cross-border payment solutions [6]

Core Insights - Ripple is acquiring GTreasury for $1 billion to enhance its corporate finance capabilities [1] - The acquisition will integrate GTreasury's treasury platform, which is utilized by Fortune 500 companies for cash and risk management, into Ripple's financial tools [1][2] - This move positions Ripple to engage directly with large treasury departments that still depend on outdated systems [2] Group 1: Acquisition Details - The acquisition is expected to close in the coming months, pending regulatory approvals [1] - This marks Ripple's third acquisition this year, following the purchase of multi-asset prime broker Hidden Road for $1.25 billion and stablecoin payments platform Rail for $200 million [6] Group 2: Strategic Implications - Ripple aims to transform how enterprises manage money by leveraging blockchain technology to address inefficiencies in traditional payment systems [3] - The combination of Ripple's and GTreasury's capabilities is intended to enable treasury and finance teams to optimize capital usage and facilitate instant payments [4] - Ripple is expanding its role as a provider of financial services infrastructure, building on its previous launch of a U.S. dollar stablecoin with over $840 million in supply [5]

Financial Performance & Growth Drivers - BNY's profits beat estimates for the quarter, largely due to a jump in fees [1] - The company attributes growth to internal improvements, including desiloing, transformation projects, AI integration, and improved customer service [2] - Approximately 2/3 (66.67%) of BNY's pre-tax income now comes from businesses outside of traditional trust banking [5] Business Strategy & Transformation - BNY is focused on desiloing its various businesses to provide a more integrated service to customers [2][6][8] - The company is investing in digital assets and tokenization as part of a broader strategy to capitalize on mega trends [9][10] - BNY aims to be a leader in new technologies and a standard setter in the global financial system [13][14] Market Outlook & Risk Management - The CEO acknowledges a good operating environment for banks, characterized by exuberant markets, tight credit spreads, and low rates [2][3] - While acknowledging potential risks, BNY does not foresee a major market blowup, citing fundamental support in the US economy [17] - The company emphasizes the importance of risk management and vigilance regarding individual situations [16][18] Legal & Reputational Issues - BNY is facing new lawsuits related to its ties to Jeffrey Epstein, which the company intends to contest vigorously [18][19]

BNY profits beating estimates for the quarter thanks in large part to a jump in fees. Still shares flat this morning. On the beat, CEO Robin Vince joins us here at Post 9.Welcome back. Good to see you. >> It's good to be with you.>> I mean, you do continue to see some nice growth. What's driving it. >> Yeah.Well, it's the people of the company. We are collectively pulling together. We've desoed the company. We've got two big transformation projects.Our commercial model, our platforms operating model. We're ...

Bottom line: A double-digit spike in fee revenue pushed the company's third-quarter net income past $2 billion.Expert quote: "Solid net interest income growth and margin expansion, as well as continued momentum across our fee businesses and prudent expense management supported double-digit net income growth," CEO Gunjan Kedia said.Key insight: Mortgage banking revenues rose 16% to $180 million.U.S. Bancorp reported third-quarter net income of $2 billion Thursday, up 17% over the comparable 2024 result as fe ...

Core Insights - Corporate balance sheets now hold approximately 1.04 million BTC, valued at around $117 billion, marking a new record for corporate Bitcoin holdings [2] - The number of public companies holding Bitcoin has increased by 40% from the previous quarter, reaching 172 firms, which collectively added about 193,000 BTC quarter-over-quarter [2] - MicroStrategy leads corporate Bitcoin holdings with approximately 640,031 BTC, followed by Marathon Digital Holdings with 53,250 BTC and XXI with 43,514 BTC [2] Corporate Trends - New entrants such as Bullish and Trump Media are joining the ranks of corporate Bitcoin holders, with holdings of 24,300 BTC and 15,000 BTC respectively [3] - Companies are increasingly viewing Bitcoin not just as a hedge but as a long-term investment in digital assets as a core treasury reserve [3] - The trend of public and private companies increasing their Bitcoin holdings is expected to continue as long as there is demand for their security issuance in the public market [3] Market Implications - The accumulation of Bitcoin by public companies is seen as a factor that could stabilize Bitcoin's price, potentially leading to less volatility in the future [5][6] - As more major players invest in Bitcoin, it may encourage additional companies to follow suit, creating a more permanent demand for the asset [5] - The relationship between Bitcoin and equity-market financing is expected to strengthen, making it easier for CFOs to justify Bitcoin ownership [6]

ETF Market Trends - ETF flows are experiencing a global surge, with record-breaking performance in the first half and Q3 of the year [1][2] - The growth is broad-based, spanning across various asset classes, including digital assets, active strategies, and index funds [2] - Actively managed ETFs are gaining traction, accounting for approximately 37% of inflows this year, compared to just over 25% last year [3] Investor Preferences - Investors seek alpha, tax efficiency, and liquidity in actively managed ETFs [5][6][7] - Investors are looking for yield and moving into short-term government bond ETFs to capture higher returns compared to holding cash [12] - Investors are showing interest in growth and income strategies, including outcome ETFs that offer upside potential with income [9][10] Specific ETF Flows - Digital asset ETFs are experiencing significant momentum and increased accessibility [9] - Short-term treasury ETFs are attracting investors seeking yield [11][12] - Some investors are moving away from index funds, with the SPY S&P 500 ETF experiencing net outflows of over $6 billion this year [8] Future Outlook - The industry anticipates continued momentum in digital asset ETFs [9] - Expects growth in growth and income strategies [9] - A potential influx of funds from the $7 trillion sitting on the sidelines in money market funds into the ETF industry is anticipated [12][13]