Core Viewpoint - The First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSEARCA:CRPT) encountered significant challenges in 2025, disappointing investors who were optimistic about a resurgence in the cryptocurrency market following President Trump's election victory and his commitment to establishing America as the "crypto capital of the world" [1] Group 1 - The ETF faced headwinds in 2025, indicating a struggle to meet investor expectations [1] - Investors had anticipated a crypto renaissance linked to political developments, specifically President Trump's election [1] - The promise to make America the "crypto capital of the world" did not translate into positive performance for the ETF [1]

Jannick Malling, Co-Founder & Co-CEO of Public.com, joins Vonnie Quinn and Norah Mulinda to discuss how retail investors are using AI, the kind of crypto growth to expect this year on the platform, and to give his macro outlook for the year. He speaks on "Bloomberg Markets." ...

Core Viewpoint - The article discusses the current trends and developments in the cryptocurrency market, highlighting the impact of regulatory changes and market dynamics on investment opportunities and risks in the sector [3]. Group 1: Market Trends - The cryptocurrency market has seen significant fluctuations, with Bitcoin and Ethereum prices experiencing notable volatility in recent months [3]. - Regulatory scrutiny has increased, with governments around the world considering stricter regulations on cryptocurrency exchanges and transactions [3]. Group 2: Investment Opportunities - Despite the volatility, there are emerging investment opportunities in blockchain technology and decentralized finance (DeFi) platforms, which are gaining traction among investors [3]. - Institutional interest in cryptocurrencies is growing, with more financial institutions exploring ways to incorporate digital assets into their portfolios [3]. Group 3: Risks - The potential for regulatory changes poses a risk to the market, as new laws could impact the operations of cryptocurrency exchanges and the legality of certain digital assets [3]. - Market manipulation and security concerns remain significant risks for investors, particularly in less regulated environments [3].

Core Insights - XRP has experienced a significant price drop of 48% from its July peak of $3.65, despite positive developments such as winning the SEC lawsuit, attracting $1 billion in ETF inflows, and Ripple's $2.7 billion in acquisitions, indicating that regulatory victories do not necessarily lead to price increases [1][6]. Legal Developments - The SEC lawsuit against Ripple concluded in August, with both parties dropping their appeals, which reinforced a ruling that differentiated between institutional and retail XRP sales [2]. - Former SEC Chair Gary Gensler attempted a last-minute appeal just before his dismissal, reflecting the ongoing complexities of the legal situation [2]. Financial Performance and Acquisitions - Ripple invested $2.7 billion in acquisitions in 2025 to evolve into a comprehensive financial services platform, including a $1.25 billion acquisition of Hidden Road, now known as Ripple Prime, which has seen its business grow threefold [4]. - In October, Ripple acquired GTreasury for $1 billion, gaining access to Fortune 500 clients and exposure to over $12.5 trillion in annual payment flows [5]. ETF Developments - XRP spot ETFs launched in November 2025, with the Canary XRP ETF achieving $58 million in first-day volume, the highest among 2025's ETF launches [6]. - By mid-December, XRP funds had attracted $883 million in net inflows, building up to $1.25 billion in assets, despite XRP's price decline [6]. Stablecoin Performance - Ripple's RLUSD stablecoin, launched in December 2024, reached a market cap of $1.3 billion, ranking as the 11th largest stablecoin, but captured less than 0.7% of the stablecoin market, falling short of expectations [7]. Future Outlook - Ripple anticipates the CLARITY Act will pass in the first half of 2026, although there are concerns it may lead to a buy-the-rumor, sell-the-news scenario [9]. - The company plans to introduce native lending on the XRP Ledger in 2026, transitioning the network towards institutional-grade DeFi [9]. - Delays in legal resolutions, ETF launches, and the CLARITY Act have hindered anticipated market rallies for XRP [10].

Group 1: Mega-Deals Overview - In 2025, a record 68 mega-deals exceeding $10 billion were announced, marking the largest global M&A volume since the pandemic, indicating renewed confidence in corporate boardrooms [1][4] - The average deal size reached nearly $227 million, driven by a favorable regulatory climate and diminishing concerns over President Trump's tariff agenda [2] Group 2: Notable Transactions - Netflix announced a $72 billion acquisition of Warner Bros. Discovery's studios and HBO Max, which prompted a $77.9 billion hostile takeover bid from Paramount Skydance [5][10] - Union Pacific's $72 billion acquisition of Norfolk Southern aims to create a US transcontinental railroad, facing antitrust scrutiny [5] - Electronic Arts is going private in a $55 billion deal, highlighting the increasing influence of private capital in major transactions [6] - Kimberly-Clark agreed to acquire Kenvue for $40 billion, reflecting the urgency among companies to secure assets amid rising demand [7] Group 3: Market Trends and Future Outlook - There is a growing perception that failing to act quickly risks losing valuable assets, with corporate leaders feeling pressured to make timely decisions [8] - The market is expected to see an increase in corporate spinoffs and crypto-related acquisitions, alongside a rise in capital flow from sovereign-wealth funds, particularly from the Middle East [11]

Core Insights - The year 2025 was marked by significant market events, including AI advancements, political developments, and economic shifts, which required investors to continuously reassess risks and opportunities [2][3]. Monthly Highlights - **January**: Introduction of Deepseek, a project funded by a Chinese hedge fund, which explored cost-effective methods for developing Large Language Models [4]. - **February**: Political news emerged as the Trump administration prepared for potential large-scale layoffs, impacting economic outlook and consumer spending [5]. - **March**: Quantum computing gained attention, particularly during Nvidia's first-ever quantum day at its GTC conference, legitimizing the sector [6]. - **April**: The announcement of tariffs by Trump led to market sell-offs, as concerns grew over their impact on consumers and trade demand [7]. - **May**: The bond market reacted strongly, with rising rates influencing stock performance and prompting discussions around tariff adjustments [8][9]. - **June**: A public fallout occurred between President Trump and Elon Musk, highlighting tensions over fiscal policies [10]. - **July**: Regulatory changes favored nuclear power, allowing companies to operate more freely and potentially increase profitability [11]. - **August**: President Trump's attempt to remove Fed Governor Lisa Cook raised questions about his influence over the Federal Reserve [12]. - **September**: A legal ruling determined that Google was not obligated to sell Chrome, impacting the tech landscape [12]. - **October**: The longest government shutdown in U.S. history disrupted economic reporting, leading to a reliance on corporate news for market sentiment [13]. - **November**: Michael Burry's hedge fund closure signaled shifts in investment strategies [14]. - **December**: An executive order by President Trump regarding marijuana rescheduling spurred interest in cannabis stocks, leading to a sell-the-news reaction [14].

Core Insights - Cardano's ADA price is currently around $0.35, down approximately 60% year-to-date, despite significant infrastructure upgrades being rolled out [1] - The launch of Midnight, Cardano's privacy-focused sidechain, has generated strong demand and is valued near $1 billion [2] - Interoperability rumors have emerged, with Ripple's CTO acknowledging Midnight's design, indicating potential cross-chain collaboration [3] Price and Market Dynamics - ADA is currently trading between $0.35 and $0.38, with technical indicators showing a lack of buying momentum [4] - If ADA fails to maintain the $0.34 support level, the positive narrative surrounding upgrades and Midnight may not have an immediate impact [5] - Development continues for Cardano, but overall buying momentum for ADA remains weak, suggesting challenges ahead as 2026 approaches [6]

Core Insights - Advisors have shown a strong preference for ETFs this year, with 168 ETFs experiencing over 90% growth in advisor adoption, highlighting their tax efficiency and the need for issuers to maintain advisor interest [2][6]. ETF Performance - The top-performing ETFs this year include those tracking artificial intelligence and cryptocurrency, particularly Ethereum, as well as fixed-income and high-income opportunities, reflecting investor engagement in these sectors [4]. - The iShares AI Innovation and Tech Active ETF (BAI) increased by 23%, while the Global X Defense Tech ETF (SHLD) saw a significant rise of 75%. Conversely, the iShares Ethereum Trust ETF (ETHA) experienced a decline of 15% [7]. Market Dynamics - Despite the overall comfort with ETFs among advisors, there remains a significant number of ETFs (325) that did not see increased adoption, representing about 8% of the 4,000 ETFs tracked by AdvizorPro, indicating the necessity for targeted marketing strategies [6]. - The mixed performance among the top five strategies suggests that while some ETFs are thriving, others are struggling to gain traction in the market [5].

Core Insights - Sberbank, Russia's largest bank, has issued its first crypto-backed loan, marking a significant step towards regulated crypto services in the country [1][6] - The move indicates a transition from unregulated crypto usage to supervised banking services, reflecting a broader trend in the financial industry [2][6] Group 1: Regulatory Context - The Russian central bank has implemented a "CryptoBasel" rule, limiting bank exposure to digital assets to 1%, indicating controlled adoption of crypto in traditional banking [3] - Sberbank's loan experiment operates within these regulatory constraints, emphasizing a cautious approach to integrating crypto into banking [3] Group 2: Product Details - A crypto-backed loan functions similarly to a pawn shop, where digital assets are used as collateral for cash loans, managed through traditional banking processes [4] - Sberbank has previously offered tokenized bonds and Bitcoin-linked products, suggesting that the crypto-backed loan is part of a broader strategy to expand crypto services for affluent clients [5] Group 3: Market Implications - The introduction of crypto services by major banks like Sberbank signals a shift in perception, moving crypto from fringe applications to regulated financial products [6] - With approximately 20 million crypto users in Russia and significant funds on exchanges, regulators are incentivized to channel crypto activities into supervised banking environments [8]

Group 1 - The document contains various mortgage application forms and personal information fields, indicating a focus on mortgage processing and requirements [1][2][3] - There is a mention of personal details such as marital status, dependents, and income, which are essential for mortgage applications [1][2] - The forms include sections for current and previous employment, as well as addresses, highlighting the thoroughness required in the mortgage application process [1][2] Group 2 - Ernest Hoffman is identified as a Crypto and Market Reporter with extensive experience in market news and journalism [4] - His background includes establishing a broadcast division and producing economic news videos, indicating a strong foundation in financial reporting [4]