Chainlink Labs joined the SEC Crypto Task Force along with @ERC3643Org, @EntEthAlliance, @Etherealize_io, and @lfdecentralized to discuss the need for standards enabling the compliant issuance and trading of tokenized assets at scale.For the blockchain industry to reach its full potential and tap institutional capital, meeting regulatory requirements is essential. Only Chainlink provides the compliance, privacy, cross-chain, and data infrastructure needed to scale digital asset adoption in a single platform ...

RT Jay ($/acc) (@jayendra_jog)Proud to see the US take a major step forward with the GENIUS and CLARITY acts being passed by the House.When we met with @RepBryanSteil last month to discuss crypto policy, these regulatory frameworks were core to our discussions. Thoughtful regulation fosters innovation.As Bryan said on the floor this week, "ensuring the United States leads the web3 revolution isn't a partisan issue, it's an American issue."Today, we take a leap forward toward CLARITY.Congrats to Rep. Steil, ...

SEC chair Paul Atkins, crypto industry cheer House passage of stablecoin and digital asset bills https://t.co/Exy99JqOLM ...

Financial Data and Key Metrics Changes - Commission revenue increased by 27% year-over-year, reaching a record $516 million [5][16] - Net interest income also set a record at $860 million, up 9% from the previous year [24][25] - Pre-tax income exceeded $1 billion for the third consecutive quarter, with a pre-tax profit margin of 75% [10][21] Business Line Data and Key Metrics Changes - Client trading volumes expanded significantly, with options and futures setting new quarterly volume records [16] - Overnight trading volumes grew over 170% year-over-year, indicating strong demand for after-hours trading [8][9] - Client credit balances rose by 34% to a record $144 billion, reflecting increased cash deposits [9][22] Market Data and Key Metrics Changes - Total customer DARTs (Daily Average Revenue Trades) increased by 49% year-over-year, reaching 3.6 million trades per day [23] - Stock share volumes rose by 31%, while options and futures contract volumes increased by 24% and 18% respectively [23] Company Strategy and Development Direction - The company is focusing on automating brokerage operations and enhancing its platform to handle increased trading volumes [10][11] - New product introductions include investment themes and forecast contracts, aimed at improving client engagement and investment decision-making [12][13] - The company is exploring opportunities in the digital asset space, including partnerships and new offerings for cryptocurrencies [37][39] Management's Comments on Operating Environment and Future Outlook - Management noted that the market experienced significant volatility, leading to increased trading activity and client engagement [4][5] - The company remains optimistic about long-term trends towards global investing and the demand for U.S. market access from international clients [14][15] - Management expressed confidence in the brokerage industry's favorable environment, anticipating continued growth in retail trading activity [80] Other Important Information - The company completed a four-for-one stock split and increased its dividend from $1 to $1.28 annually [14][23] - Total assets grew by 33% year-over-year, driven by higher segregated cash balances and margin lending [22] Q&A Session Summary Question: Clarification on account growth expectations - Management projected lower account growth than actual results, indicating a strong performance in net new accounts [35] Question: Impact of digital asset initiatives - The company is enhancing its digital asset offerings and exploring partnerships to better serve client needs in the crypto space [37][39] Question: Perspectives on tokenized equity products - Management contrasted their offerings with competitors, emphasizing the advantages of direct ownership of stocks over tokenized derivatives [44][45] Question: Execution cost differences in overnight trading - Execution costs for stocks differ significantly between overnight and regular trading hours, with the company leveraging its ATS for competitive pricing [50][51] Question: Drivers of client credit balance growth - The increase in client credit balances was attributed to strong new cash deposits and a risk-off environment leading to higher cash holdings [69][70] Question: Future of zero DTE options - Management acknowledged the popularity of zero DTE options and discussed the complexities of offering them for single stocks [73][74]

Federal Reserve & Interest Rates - Maintaining the Federal Reserve's independence is crucial, as markets react negatively to its perceived lack thereof [1][2] - The current Fed Funds rate of 45% is considered too high, especially with inflation at 25% and GDP growth slowing [3][5] - Lowering rates prematurely could lead to inflation [1] Private Credit Market - Private credit markets are experiencing substantial growth, projected to reach $10 to $15 trillion in a decade, growing at 20% annually [10] - Asset-based lending (ABL) within private credit is still in its early stages but poised for significant expansion [9] - Private equity's growth will drive the expansion of direct lending [8] - Banks are increasingly participating in private credit, buying and selling private loans [11] Banks & Private Credit - Banks are expected to play a significant role in financing debt related to private credit deals [13] - Banks may develop secondary markets to provide liquidity for listed private debt products [15] Democratization of Private Credit - Concerns exist regarding the suitability of private credit investments for retail investors [16] - Private credit offers attractive risk-adjusted returns compared to public equity markets, with historical net returns of 11-12% and half the volatility of the equity market which generates a 7% historical return [17] - Wealth management divisions of major banks vet managers and provide recommendations for private credit investments [19] Tariffs & Inflation - Tariffs have not significantly impacted prices, with exporters and importers absorbing the costs [4]

Policy & Regulation - U_S_ President Donald Trump is preparing an executive order to allow 401(k) plans to invest in alternative assets [1] - The order would open up the $9 trillion retirement market [1] - Regulators are instructed to assess remaining barriers [1] - Considering a safe harbor to limit legal liability for plan administrators [1] Investment Opportunities - 401(k) plans may invest in crypto, gold, and private equity [1]

Institutions have entered the chat.Ben Brophy breaks down how tokenized assets, global liquidity, and institutional scale meet on Solana with r3 https://t.co/wnngDP1508 ...

Core Viewpoint - WonderFi Technologies Inc. has received approval from its shareholders and brokers warrant holders for the acquisition by Wrangler Holdings Inc., a subsidiary of Robinhood Markets, Inc. [1][2] Group 1: Acquisition Details - The special resolution for the acquisition was approved by 96.28% of the votes cast by shareholders and 96.3% of the votes cast by brokers warrant holders [2] - Shareholders will receive C$0.36 per share as consideration, while brokers warrant holders will receive a cash amount based on the Black-Scholes value of their warrants [3] - A total of 321,024,400 votes were cast, representing approximately 48.36% of all issued and outstanding shares [2] Group 2: Next Steps and Timeline - WonderFi will seek a final order from the Supreme Court of British Columbia to approve the arrangement, with a hearing expected around July 21, 2025 [4] - The acquisition is anticipated to close in the second half of 2025, contingent on the satisfaction of all conditions in the arrangement agreement [4] Group 3: Earnout Rights Holders - Earnout rights holders have approved an extraordinary resolution to amend the earnout rights indenture, with 98.04% approval [5][6] - The last interim earnout payment period will be from July 1, 2025, to the earlier of the business day before the arrangement's effective date or November 14, 2025, with an aggregate earnout payment of $199,396 to be distributed [7][8] Group 4: Company Overview - WonderFi is a leader in centralized and decentralized financial services, managing over $1.7 billion in client assets [9] - The company aims to provide diversified investment exposure across the global digital asset ecosystem and owns market-leading brands such as Bitbuy and Coinsquare [10]

Group 1 - Basel Medical Group Ltd has announced a pause on the acquisition of BTC digital asset due to ongoing regulatory reviews by US authorities and the lack of clarity on forthcoming policies [1][2] - Both Basel Medical Group and the consortium of Bitcoin holders have mutually agreed to defer the deal until there is greater regulatory certainty [2] - Basel Medical Group is a Singapore-based provider of orthopedic and trauma services, with over 20 years of experience and strong relationships in various industries [3] Group 2 - The company operates clinics in Singapore and is well-positioned to capitalize on growth opportunities in the private healthcare sector driven by factors such as aging populations and increasing private insurance coverage [3] - Basel Medical Group's management team includes specialists in orthopedic and neurosurgery, as well as corporate finance and healthcare partnerships [3]

Core Viewpoint - Cohen & Steers, Inc. reported its financial results for the second quarter of 2025, with a conference call scheduled to discuss these results [1]. Group 1: Financial Results - The earnings release for the quarter ended June 30, 2025, is available on the company's website [1]. - The conference call to discuss the results will be hosted by key executives including the CEO, CFO, and President [1]. Group 2: Conference Call Details - Investors and analysts can access the live conference call by dialing specific numbers for U.S. and international participants [2]. - A replay of the call will be available for two weeks after the conclusion of the conference call [2]. - The webcast of the conference call will be archived on the company's website for one month [2]. Group 3: Company Overview - Cohen & Steers is a leading global investment manager specializing in real assets and alternative income [3]. - The firm was founded in 1986 and is headquartered in New York City, with additional offices in major global cities [3].