Michael Saylor is betting Bitcoin will transform the global financial system.Bitcoin (BTC +3.17%) was created in 2008 by an anonymous developer who used the pseudonym Satoshi Nakamoto. It has since become a recognized store of value among many investors, thanks to its decentralized structure and its capped supply, which creates the perception of scarcity.A single Bitcoin trades for around $89,700 as I write this, but Strategy (MSTR +2.88%) (formerly known as MicroStrategy) cofounder Michael Saylor is bettin ...

Group 1 - Michael Burry is exploring the concept of tokenization, which involves converting physical assets into digital form on the blockchain, indicating a growing interest in this trend within the financial sector [1][2] - Major financial institutions, including JPMorgan Chase and BlackRock, are adopting tokenization to enhance their services and product offerings, with JPMorgan launching a deposit token called JPM Coin and BlackRock introducing a tokenized U.S. Treasury product [3][4] - The Securities Industry and Financial Markets Association has urged the SEC to deny digital asset companies the ability to offer tokenized equities through specific exemptive relief, advocating for a more open and transparent regulatory process [5] Group 2 - The tokenized asset market is experiencing significant growth and is being increasingly recognized by Wall Street, as evidenced by Burry's engagement with the topic and the actions of major financial players [2][3] - Robinhood has also entered the tokenization space by launching tokenized stocks for its European customers, showcasing the trend's expansion beyond traditional financial institutions [3]

Tokenization is like a freight train. It can't be stopped and eventually it's going to eat the entire financial system. These are the types of quotes that we are now hearing from names like Vlad Tenev who is the CEO of Robin Hood. And it's crazy to see the evolution of crypto from a, you know, sort of small market to, you know, being paraded around and spotlighted on every single global stage around the world by some of the biggest Tradfi guys. And this is seriously just the beginning. I mean, we are at the ...

Today, Bitcoin soarses back to the $94,000 level. The second largest teachers union writes a letter to senators opposing crypto market structure legislation. And Samir Kerbage of hashts breaks down his expectations for markets and the firm's crypto forecasts for 2026.Welcome to CNBC's Crypto World. I'm Talia Kaplan. Digital currencies are solidly in the green this morning as the Fed's December meeting kicks off.Markets are betting the central bank will lower its key overnight lending rate by another quarter ...

Summary of BlackRock Conference Call - December 09, 2025 Company Overview - **Company**: BlackRock (NYSE: BLK) - **Assets Under Management**: $13.5 trillion - **Growth Target**: Plans to double the business by 2030 - **Current Growth**: Organic base fee growth at 8% for the last 12 months, exceeding the 5% target [10][12][20] Key Points and Arguments Financial Performance - **Organic Base Fee Growth**: Achieved 8% growth, with expectations for continued strong performance into Q4 2025 [12][20] - **iShares Flows**: Approximately $100 billion in iShares flows for Q4, totaling $450 billion for the year, setting an annual record [21] - **Private Markets**: $16 billion in private markets through Q3, with a strong pipeline for Q4 [22] - **Revenue Growth Strategy**: Focus on structural growth engines such as SMAs, models, systematic equities, and digital assets, aiming for 6-7% organic base fee growth in the future [24][25] Market Trends and Strategic Shifts - **Total Portfolio Approach (TPA)**: Shift from traditional strategic asset allocation to TPA, allowing for more nimble investment strategies [70][72] - **Institutional Investor Trends**: Notable movement among large institutional investors, including CalPERS, towards TPA, indicating a significant market shift [72][78] Acquisitions and Integration - **HPS Investment Partners**: Integration has led to increased origination opportunities and a larger pipeline for credit investments [81][87] - **Credit Market Conditions**: Current credit conditions remain stable, with non-accruals and recovery rates in line with historical norms [88][90] Product Development and Innovations - **New Product Launches**: Plans to develop a family of retail alternative funds and expand private market offerings [109][110] - **401(k) Opportunities**: Target date funds with private market allocations expected to launch in 2026, aiming to bring private market exposure to defined contribution plans [126][127] Digital Assets and Tokenization - **Tokenization Strategy**: Focus on bridging traditional finance with decentralized finance (DeFi), including plans to tokenize iShares and develop digital wallet capabilities [139][143] - **Stablecoin Management**: Managing approximately $65 billion in Circle Stablecoin, with expectations for significant growth in digital wallets and tokenized assets [140][142] Additional Important Insights - **Expense Management**: BlackRock aims for adjusted operating margins of 45% or greater, with a focus on aligning organic revenue growth with controllable expenses [49][52] - **Market Conditions**: Anticipation of increased default rates in the credit market, particularly among smaller companies, while larger companies are expected to perform better [92][96] This summary encapsulates the key insights and strategic directions discussed during the BlackRock conference call, highlighting the company's robust growth trajectory, market adaptations, and innovative product developments.

Summary of Intercontinental Exchange (ICE) Conference Call - December 09, 2025 Company Overview - **Company**: Intercontinental Exchange (NYSE: ICE) - **Industry**: Financial Services, Trading, Data, and Mortgage Services - **CEO**: Jeff Sprecher Key Points Market Structure and Tokenization - Tokenization is expected to significantly impact financial services, particularly in capital movement, allowing for 24/7/365 transactions [7][8][9] - Current legacy systems are resistant to change, which may hinder the adoption of tokenized money [7][8] - The trend towards a more dollar-denominated world is evident, with stablecoins like Tether gaining traction in various regions [10][11] Role of Market Operators - Traditional exchanges, like the New York Stock Exchange, will continue to play a crucial role in connecting buyers and sellers despite the rise of decentralized finance (DeFi) [16][17][18] - Legacy operators must adopt new technologies to remain relevant in a changing market landscape [18] Investment in Polymarket - ICE invested $2 billion in Polymarket, the largest non-sports prediction market, to gain insights into DeFi protocols and enhance technological capabilities [19][20] - The partnership aims to facilitate knowledge transfer and regulatory compliance in the U.S. [21][22] - Polymarket's model allows for rapid creation and dissemination of contracts, which contrasts with traditional exchange regulations [23][24] Energy Business Growth - ICE's energy business continues to grow, driven by the globalization of liquefied natural gas and increasing energy demand in Asia [34][35] - Open interest in European natural gas contracts has increased by 46% year-over-year, indicating robust market activity [36] Data Centers as Revenue Drivers - ICE is expanding its data center capacity, which serves high-frequency traders and brokerages, and is becoming a significant revenue source [37][38] - The company plans to build a second data center to meet growing demand for co-location services [40][41] Mortgage Business Dynamics - The mortgage segment is experiencing cyclical headwinds but is expected to rebound with lower rates and increased refinancing activity [46][48] - ICE is leveraging AI to enhance mortgage services, focusing on predicting home values and client creditworthiness [58][59] - The potential for tokenization in the mortgage space is acknowledged, but regulatory challenges remain significant [61] AI Implementation - ICE has established an AI Center of Excellence to improve operational efficiencies and streamline language-oriented tasks [66][67] - The use of AI is expected to slow expense growth rather than eliminate positions, reflecting a cautious approach to automation [68][70] M&A Opportunities - ICE is currently focused on share buybacks due to perceived stock undervaluation, but remains open to M&A opportunities if they align with strategic goals [74][75] Additional Insights - The conversation highlighted the importance of adapting to technological advancements while maintaining the core functions of traditional financial markets [18][24] - The integration of AI and data analytics is seen as a critical factor for future growth across various segments of ICE's business [66][68]

Ethereum's ether (ETH) surged on Tuesday to its strongest price since mid-November, leading crypto markets higher as bitcoin (BTC) climbed above $94,000. The second-largest cryptocurrency climbed to just shy of $3,400, rallying 8.4% over the past 24 hours. Those gains significantly outpaced bitcoin’s 4.5% advance and the broad-market benchmark CoinDesk 20 Index’s 6% climb. The rally also drove the ETH/BTC ratio — a closely-watched gauge of ether’s relative performance to bitcoin — to its strongest level ...

Core Insights - Tassat Group, Inc. has secured a U.S. patent for its Yield-in-Transit (YIT) technology, enhancing programmable interest-bearing settlement infrastructure [1] - The YIT technology aims to modernize financial transaction systems for regulated institutions and supports Lynq in delivering integrated interest-bearing settlement [1][2] Group 1: Technology and Innovation - The YIT technology facilitates intraday accrual and distribution of on-chain interest, addressing challenges in high-velocity settlement environments [3] - By enabling interest distribution based on the duration assets are held, the YIT model eliminates ambiguity and inefficiencies associated with traditional settlement processes [3][5] - Tassat's patent validates its innovation in tokenization and real-time programmable settlement platforms, potentially transforming capital efficiency for digital asset institutions [4] Group 2: Market Impact and Applications - YIT ensures that liquidity remains productive throughout the settlement process, allowing on-chain assets to generate continuous returns [5] - The technology opens avenues for features like collateral pledging, delivery vs. payment, and stablecoin reserve management [6] - The real-time impact of YIT is being demonstrated within Lynq's institutional network, allowing users to accrue on-chain intraday interest and receive same-day distributions [6][7]

Core Insights - Malaysia's Crown Prince has launched a state-backed stablecoin initiative and a significant crypto-treasury plan amidst concerns about the global digital-asset market's stability [1] Group 1: Stablecoin Initiative - Bullish Aim Sdn. Bhd. has introduced RMJDT, a ringgit-backed stablecoin, utilizing the Zetrix blockchain, which supports Malaysia's national blockchain infrastructure [2] - The rollout of RMJDT is conducted under a regulated sandbox overseen by the Securities Commission and Bank Negara Malaysia, aimed at testing financial innovations [3] - The initiative aims to enhance the ringgit's role in cross-border settlements and attract foreign direct investment, aligning with Malaysia's Digital Asset National Policy [4] Group 2: Digital Asset Treasury - Bullish Aim plans to establish a Digital Asset Treasury Company with an initial allocation of 500 million ringgit (approximately $121 million) in Zetrix tokens, with intentions to grow the treasury to one billion ringgit [5] - The treasury will stabilize gas fees for RMJDT transactions and support up to 10% of validator nodes within the national blockchain infrastructure [5] - The strategy draws inspiration from successful corporate treasury models, highlighting the willingness of well-capitalized players to engage in significant investments despite market uncertainties [6] Group 3: Market Context - The launch of RMJDT occurs during a period of declining prices for Zetrix, which trades around $12.60, down from a peak above $20 a year ago [7] - Malaysia is experiencing a broader regional shift with multiple digital-asset treasury announcements, indicating a proactive approach to digital asset integration despite global inflow slowdowns [8]

I am learning. #justkeepswimmingBeyond crypto: how tokenization is quietly rewiring markets | The Paypers https://t.co/y7zaveTruz ...