Core Viewpoint - CoinShares International Limited is progressing with a merger with Vine Hill Capital Investment Corp, with a court hearing scheduled for February 17, 2026, to discuss the proposed business combination [1][2]. Transaction Progress - The directions hearing is a significant procedural step in the Scheme of Arrangement, where the Court will approve shareholder documentation and direct the necessary shareholder meetings [2]. - Following court approval, CoinShares plans to publish the Scheme Circular around February 18, 2026, and Odysseus Holdings Limited will publish the Swedish offer document around February 25, 2026 [3]. Path to U.S. Listing - CoinShares and Odysseus Holdings Limited submitted a draft registration statement on Form F-4 to the SEC on November 21, 2025, and will provide updates on the timeline after further engagement with the SEC [4]. Transaction Valuation - The merger values CoinShares at USD 1.2 billion, based on the Company's 2024 full-year adjusted EBITDA, which was generated when bitcoin averaged USD 65,964, compared to current prices of approximately USD 90,000 [5]. Completion Conditions - The completion of the transaction is subject to customary closing conditions, including shareholder approvals, court acts, effectiveness of the F-4, and local regulatory approvals [6]. Company Background - CoinShares is a leading global digital asset manager, providing a range of financial services to various clients, and is regulated by multiple financial authorities [7]. - Vine Hill is a special purpose acquisition company (SPAC) that completed a USD 220 million IPO in September 2024 and is focused on unlocking shareholder value through public markets [8].

Hong Kong will issue a batch of licenses to stablecoin providers in the first quarter of this year, Financial Secretary Paul Chan told World Economic Forum attendees in Davos on Tuesday. This will be the first issued since Hong Kong’s new stablecoin licensing regime took effect on August 1 last year. Hong Kong Kicks Off Stablecoin Licensing Regime With Eye on Global Hub Companies offering or marketing stablecoins to retail investors must obtain approval from the Hong Kong Monetary Authority. The process ...

Hello everyone. Treasury Secretary Scott Besset has revealed his master plan for the US economy. People are up in arms over the Greenland controversy and the New York Stock Exchange. The big dogs, they just announced a new platform that proves crypto is winning. We're live today from the desk of Anthony Pompiano. Before [Music] we get into today's episode, I need your help. We currently have 42,000 subscribers on YouTube, but my goal is 1 million. Hit the subscribe button and let's get into today's show. No ...

Hello everybody. Welcome to the Tuesday live stream. So a lot of things to go over. So let's just jump right into it. So first of all, Davos is going on. If you don't know what Davos is, it's a it's put on by the World Economic Forum and it pretty much contributes or collaborates the public and private sector to figure out what is going wrong with the economic status of the world and how those guys and gals fix it. And uh if you don't know, this was actually created by Claus Schwab, like a famous one that u ...

Core Insights - U.S. Bancorp reported record net revenue of $7.4 billion for the fourth quarter, with a year-over-year growth of 5.1% and a full-year record of $28.7 billion [2][5] - The bank's earnings per share for the fourth quarter reached $1.26, reflecting an 18% increase year-over-year on an adjusted basis [3][5] - Tangible book value per common share increased by 18.2% year-over-year as of December 31 [1] Financial Performance - Net interest income (NII) rose by 3.3% year-over-year, supported by strong consumer deposit growth, while fee revenue increased by 7.6% year-over-year [3][5] - Total average deposits were $515 billion, up 0.7% from the prior quarter, with non-interest-bearing deposits making up about 16% of total average deposits [5][6] - Average loans totaled $384 billion, reflecting a 1.4% increase from the prior quarter, with commercial and credit card lending growing by 10.1% and 5.7% year-over-year, respectively [6] Fee Income and Growth Strategies - Fee income constituted 42% of total net revenues in 2025, with a year-over-year growth of 6.7% [8] - The bank's global fund services (GFS) segment grew at an 11% compound annual growth rate since 2021, with a 12% increase in 2025 [9] - Payments transformation is a strategic priority, with expectations of mid-single-digit growth in payments fees across card and merchant services in 2026 [10] Expense Management and Credit Quality - Non-interest expense was approximately $4.2 billion, up 0.7% sequentially, with stable expenses maintained over nine consecutive quarters [11] - Credit quality showed improvement, with non-performing assets at 0.41% of loans and net charge-offs at 0.54% [12] Capital and Future Outlook - The Common Equity Tier 1 (CET1) ratio was reported at 10.8%, with plans to gradually increase buybacks starting from $100 million to $200 million [13] - For 2026, the bank anticipates total net revenue growth of 4%-6% year-over-year and positive operating leverage of over 200 basis points [14] - The BTIG acquisition is expected to contribute $175-$200 million in quarterly fee revenue, with a 12 basis point impact on CET1 [14]

Financial Data and Key Metrics Changes - The company reported earnings per share of $1.26, an increase of approximately 18% year-over-year on an adjusted basis [4] - Net interest income increased by 3.3% year-over-year, supported by strong consumer deposit growth [4] - Total net revenue for the fourth quarter was $7.4 billion, a 5.1% increase, while full-year net revenue reached $28.7 billion [4][13] - The return on tangible common equity was 18.4%, and the efficiency ratio improved to 57.4% year-over-year [15] Business Line Data and Key Metrics Changes - Fee income represented 42% of total net revenues and grew 6.7% year-over-year, with broad-based strength across most fee businesses [7][16] - Average loans totaled $384 billion, up 1.4% from the prior quarter, with commercial and credit card loans growing by 10.1% and 5.7% respectively [15] - Non-interest expense totaled approximately $4.2 billion, up 0.7% linked quarter, influenced by severance charges [17] Market Data and Key Metrics Changes - The company experienced record consumer deposits this quarter, contributing to net interest income growth [10] - The ratio of non-performing assets to loans improved to 0.41%, indicating better asset quality [17] Company Strategy and Development Direction - The company is focused on restoring investor confidence and delivering strong financial results through three key priorities [5] - Strategic investments in technology, sales, and marketing are planned for 2026 to drive growth [6] - The acquisition of BTIG is expected to create considerable revenue synergies and enhance the capital markets franchise [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic backdrop for 2026, highlighting strong consumer performance and improving credit quality metrics [20][88] - The company is closely monitoring potential policy changes that could impact the banking industry, particularly regarding capital and digital assets [88] Other Important Information - The company expects total net revenue growth of 4%-6% for 2026, with positive operating leverage of 200 basis points or more [18] - The BTIG acquisition is anticipated to contribute $175-$200 million of fee revenue per quarter [19] Q&A Session Summary Question: Share repurchase pace and capital ratios - Management plans to gradually increase share repurchases from $100 million to $200 million, focusing on client and loan growth first [24] Question: Impact of credit card rate caps - Management estimates that over 90% of clients would be negatively impacted by a 10% rate cap on credit cards, emphasizing the importance of financial education [25][26] Question: Revenue growth expectations for 2026 - Management expects mid-single-digit growth for both net interest income and fee revenue, driven by strong business momentum [30][31] Question: Balance sheet growth outlook - Loan growth is expected to be in the 3%-4% range, with a focus on commercial and card loans [40] Question: NIM expansion timeline - Management maintains a path to achieve a 3% net interest margin by 2027, driven by loan mix and fixed asset repricing [43] Question: Drivers of deposit growth - The company is seeing steady growth in consumer deposits, which are expected to be accretive in the long term [48][49] Question: Digital assets organization - The company is actively exploring opportunities in digital assets, particularly in capital markets and cryptocurrency custody [51] Question: BTIG acquisition impact - The acquisition is expected to be PPNR neutral initially, with potential for margin expansion post-merger costs [100]

Bitcoin and other cryptocurrencies were under pressure in early trading Tuesday, extending a geopolitical-led pullback that began a day earlier as the threat of U.S. tariffs on European countries over Greenland triggered a risk-off move in digital assets. ...

Group 1 - Blockspace Media has acquired Bitcoin Layers, an onchain data analytics platform, to integrate its data into Blockspace's content suite [1][2] - Bitcoin Layers will be the first of many data products from Blockspace as it aims to expand its offerings for stocks and other Bitcoin data [2] - Blockspace is positioning itself as a Bitcoin-focused alternative to The Block, targeting data-driven media specifically for Bitcoin analysis [2] Group 2 - The acquisition aligns with a broader market trend of increasing mainstream adoption of cryptocurrency and blockchain, leading to higher demand for signal-based reporting from both crypto and traditional media [3] - Traditional finance is undergoing significant transformation, comparable to the disruptions seen during the computer era [4] - The New York Stock Exchange has launched a 24/7 tokenized securities trading platform, indicating a strong embrace of crypto and blockchain by traditional finance [5][6]

Core Insights - Digital asset investment products experienced inflows of $2.17 billion last week, marking the strongest weekly inflows since October 2025 [1] - Despite geopolitical tensions and uncertainty in US monetary policy, the inflows indicate a resilient interest in digital assets [1][2] Inflows and Market Dynamics - Inflows were concentrated earlier in the week, with a reversal on Friday resulting in $378 million in outflows due to diplomatic escalations and trade policy concerns [2] - Bitcoin attracted $1.55 billion in inflows, reinforcing its position as the primary institutional gateway into digital assets [3] - Ethereum and Solana also showed resilience, with inflows of $496 million and $45.5 million respectively, despite potential regulatory challenges [4] Altcoin Performance - A variety of altcoins saw positive inflows, indicating an improving risk appetite, with XRP leading at $69.5 million [5] - Investors are selectively re-engaging with altcoins, favoring those with established liquidity and clear narratives [6] Regional Trends - The US led regional inflows with $2.05 billion, followed by Germany ($63.9 million), Switzerland ($41.6 million), Canada ($12.3 million), and the Netherlands ($6.0 million) [7] - Blockchain equities attracted $72.6 million in inflows, reflecting sustained investor interest in companies linked to blockchain infrastructure and services [8]

Core Argument - Economist Peter Schiff argues that the U.S. is the biggest beneficiary of global trade, countering President Trump's claims that the U.S. subsidizes other countries by not imposing tariffs [1][2]. Group 1: U.S. Dollar and Global Trade - Schiff contends that the U.S. is subsidized by the world due to the U.S. Dollar's status as the global reserve currency [2]. - The reserve-currency status allows the U.S. to live beyond its means, but the increasing national debt and tariffs pose risks to this privilege [3]. - Schiff warns that losing this privilege could lead to an economic collapse [3]. Group 2: Trade Relations and Tariffs - Trump's recent escalation of tariffs against Denmark and EU countries is framed as an effort to assert U.S. control over Greenland, claiming that the U.S. has subsidized these nations [4]. - In response, EU states have threatened retaliatory tariffs against the U.S., raising concerns about potential trade disruptions [4]. Group 3: Dollar Performance - The U.S. Dollar Index (DXY) has decreased by 9.35%, currently trading at 99.201 against other currencies [5]. - The dollar's share of global reserves has declined from 72% in 1999 to 57%, influenced by rising fiscal deficits and the appeal of digital assets [5].