Ark Invest bought $30.5 million worth of shares in Circle Internet (CRCL) on Wednesday as the issuer of the second-largest stablecoin fell 12%. Cathie Wood's investment management firm added a total 353,328 CRCL shares across three of its exchange-traded funds (ETFs): Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF). Ark frequently snaps up large amounts of company shares when the price appears to be temporarily depressed. CRCL slid to $86.30, the lowest close since June 5 ...

🔥 LATEST: Ripple is investing $4B to build prime brokerage, custody, treasury tools, and a stablecoin push to bridge crypto with Wall Street. https://t.co/noutyOWgvG ...

Brazil Targets Illegal Bitcoin, Stablecoin Use Through New Proposals► https://t.co/5Gsfjo7rfp https://t.co/5Gsfjo7rfp ...

Financial Data and Key Metrics Changes - Net revenue for Q3 2025 was $13.8 million, down from $22.5 million in the same period last year, primarily due to an increase in deferred revenue of $10.9 million [16][18] - Net loss for Q3 2025 was $7.9 million compared to a net income of $233,000 in the same period last year, driven by decreased net revenue and increased expenses [18] - Bookings for Q3 increased by 9.3% to $17.6 million compared to $16.1 million from the same period last year [19] Business Line Data and Key Metrics Changes - Total ARK sales increased by $2.2 million compared to the same period last year, while Salty TV sales increased by $300,000 [16] - Units sold for the gaming business increased by 7.8% year over year, with total units sold for the nine-month period rising 38.7% to 4.8 million [10] - Average daily active users (DAU) for ARK: Survival Evolved and ARK: Survival Ascended reached approximately 122,658 and 92,876, respectively [10] Market Data and Key Metrics Changes - Deferred revenue balance as of September 30, 2025, was $36.4 million, with $35.3 million due to non-refundable payments [17] - The company expects to recognize approximately $26.5 million of deferred revenue within the next 12 months, with $5.8 million expected to be recognized in Q4 2025 [17][18] Company Strategy and Development Direction - The company is pursuing a stablecoin project to position itself as a pioneer in digital payments within the gaming industry, viewing stablecoins as the future of digital transactions [5][6] - Upcoming growth drivers include the launch of ARK: Lost Colony and the anticipated release of Echoes of Elysium on December 4, 2025 [14][15] Management's Comments on Operating Environment and Future Outlook - Management noted that the decline in net revenue was primarily due to timing of revenue recognition rather than a reduction in sales or demand [7] - The company remains optimistic about a stronger Q4, driven by the upcoming launch of new content and continued engagement across its gaming portfolio [9][22] Other Important Information - The company participated in several industry events to drive awareness of its titles, including Gamescom and TwitchCon [11] - The interactive film segment has seen growth, with 67 short-film dramas released through the Salty TV app [12] Q&A Session Summary Question: Can you discuss the gross margins in the quarter? - The decrease in gross margin was attributed to fixed license fees and deferred revenue from Lost Colony sales [23][24] Question: Can you elaborate on the timing of deferred revenue recognition? - Most deferred revenue is expected to be recognized within the next 12 months, with $5.9 million related to Lost Colony expected in Q4 2025 [25][26] Question: What does the remaining deferred revenue consist of? - The majority of deferred revenue is related to gaming performance obligations and some deposits for future games [27][28]

NH NongHyup Bank, one of South Korea’s five largest banks, has launched a proof-of-concept in collaboration with Avalanche, Fireblocks, Mastercard, and Worldpay to test a stablecoin-based VAT refund system. The initiative aims to evaluate smart contract–driven automation and stablecoin settlement models for inbound tourist tax refunds. https://t.co/2l8hN8tTID ...

South Korea's NH NongHyup Bank pilots stablecoin-led tax refunds on Avalanche https://t.co/XLxlB2II9d ...

The $456 million reserve shortfall that forced Justin Sun to bail out the token holders of the TrueUSD stablecoin is now the subject of a worldwide freezing order upheld by Dubai’s Digital Economy Court. The dispute centers on whether funds from TrueUSD’s reserves were improperly funneled into Aria Commodities DMCC, a Dubai-based trade-finance firm that financed commodity shipments, mining projects and other illiquid ventures across emerging markets, according to the claimant's counsel. Aria, part of a g ...

Stablecoin issuer Circle has disclosed plans for a native token on its Arc testnet, signalling a new phase in the company's ambitions beyond its flagship USDC stablecoin. Notably, the move comes amid ... ...

周三，Circle(CRCL.US)股价走低，截至发稿，该股跌超7.4%，报90.96美元。消息面上，最新财报显 示，Circle第三季度每股收益为64美分，较分析师一致预期的20美分高出220%。公司持续经营业务净利 润为2.14亿美元，显示核心业务盈利能力强劲。三季度营收增长66%至7.4亿美元。USDC流通量的大幅 增长成为推动Circle营收增长的关键因素。该公司稳定币流通量较去年同期翻了一番以上，显示出市场 对受监管稳定币的持续需求。 ...

Summary of Corpay (NYSE: CPAY) 2025 Conference Call Company Overview - **Company**: Corpay (NYSE: CPAY) - **Industry**: Corporate payments and vehicle payments Key Takeaways 1. **Growth Potential**: Corpay is experiencing high growth potential, particularly in the corporate payment space, with an organic growth rate of 9%-11% expected. The total addressable market (TAM) in both payable and cross-border segments is significant, indicating substantial untapped opportunities [3][4][5]. 2. **Business Segments**: The two largest segments, vehicle payments and corporate payments, account for over 80% of revenue. Corporate payments are expected to maintain high teens organic growth, while vehicle payments are showing mid-single-digit growth in the U.S. and high teens growth in Brazil [6][7][8]. 3. **Acquisitions**: Recent acquisitions, including investments in Avid and Alpha, are expected to enhance growth. The Alpha acquisition is projected to contribute at least $0.75 in cash EPS accretion by 2026, with significant revenue synergies anticipated from cross-selling opportunities [10][14][16]. 4. **Corporate Payments Strategy**: The corporate payments segment is divided into payables (40% of revenue) and cross-border business (60%). The focus is on expanding services to the office of the CFO, with a projected growth of over $2 billion by 2026 [9][11]. 5. **Stablecoin Strategy**: Corpay is investing in stablecoin technology to enhance cross-border payments, allowing for 24/7 fund availability. This strategy is seen as a competitive advantage, particularly in the merchant space and for clients in the private capital markets [25][26][29]. 6. **Lodging Business Performance**: The lodging segment has faced challenges, with a 5% year-over-year decline. However, there is optimism about repositioning and technology investments to drive future growth [22][23]. 7. **Gift Business Performance**: The gift segment has shown strong performance with nearly 60% EBITDA margins. The business is expected to continue performing well, although it is noted for its quarterly volatility [38][42]. 8. **Debt and Liquidity Management**: Corpay has increased its revolver by $1 billion and expects to generate significant cash flow, aiming for a leverage ratio of 2.8 by year-end. There is a focus on stock buybacks due to perceived undervaluation [31][32]. 9. **Divestiture Plans**: Corpay is exploring divestitures of non-core businesses within the vehicle payments segment, with potential proceeds of $1.5 billion to be redeployed for buybacks or additional M&A [33][35][36]. 10. **Sales Growth**: The company reported a 24% year-over-year increase in sales growth, indicating strong client acquisition efforts, particularly in the vehicle payments sector [20]. Additional Insights - **Market Conditions**: The payment space is described as challenging, with the company focusing on internal performance improvements to navigate these conditions [4]. - **Client Demand for Integration**: There is a growing demand from clients for integrated services between Corpay and Alpha, indicating a positive reception of the acquisition [17][18]. - **Focus on AI and Technology**: Corpay is leveraging AI-driven credit models to improve client retention and reduce credit losses in the vehicle payments business [46]. This summary encapsulates the key points discussed during the conference call, highlighting Corpay's strategic direction, growth opportunities, and market challenges.