Core Viewpoint - Bitcoin-related stocks experienced a significant increase, driven by the nomination of Michael Selig as the chairman of the Commodity Futures Trading Commission (CFTC), which is seen as a victory for the digital asset industry [1] Group 1: Stock Performance - Robinhood (HOOD.US) rose over 5.6% [1] - Bitmine Immersion Technologies (BMNR.US) increased by more than 5.7% [1] - SharpLink Gaming (SBET.US) saw a rise of over 5.5% [1] - MicroStrategy (MSTR.US) gained 2.6% [1] - Bitfarms (BIFT.US) increased by more than 1.5% [1] - Iren Ltd (IREN.US) rose over 3.4% [1] Group 2: Regulatory Developments - Michael Selig, currently the chief legal advisor for the CFTC's cryptocurrency working group, has been nominated to lead the CFTC [1] - The Trump administration is actively reshaping regulations for the digital asset industry through new legislation [1] - Selig's appointment is expected to accelerate regulatory processes, providing clearer guidance for cryptocurrency companies and investors seeking compliance [1]

Core Insights - IBM has launched IBM Digital Asset Haven, a platform designed for financial institutions, governments, and corporations to manage digital assets securely and efficiently [1][3] - The platform aims to support the entire digital asset lifecycle, including custody, transactions, and settlement, while ensuring compliance with regulatory requirements [1][4] Product Features - IBM Digital Asset Haven integrates IBM's infrastructure with Dfns' digital asset custody capabilities, having created 15 million wallets for over 250 clients [2] - Key features include transaction lifecycle management across more than 40 blockchains, governance and entitlement management, and integrated third-party solutions for KYC and AML [5] - The platform emphasizes holistic security and key management, utilizing Multi-Party Computation (MPC) and Hardware Security Module (HSM) technology to meet compliance needs [5] Market Context - The increasing adoption of tokenized assets and stablecoins presents a significant opportunity for financial institutions to modernize their offerings [3] - IBM Digital Asset Haven is positioned to facilitate the integration of digital assets into traditional banking and capital markets systems [4] Availability - The platform is expected to be available as a Software as a Service (SaaS) in Q4 2025, with hybrid options leveraging LinuxONE and IBM Z, and on-premises availability planned for Q2 2026 [4]

🇹🇭 ALERT: Thai regulators raided a Worldcoin-linked iris-scanning site, citing unlicensed digital-asset operations. https://t.co/goJjx8DM61 ...

Bitcoin’s rising popularity among institutions has opened up a near trillion dollar gap between the largest digital asset and altcoins https://t.co/Fe0au82Ma6 ...

Financial Data and Key Metrics Changes - The company reported revenue of $1.1 billion, operating income of $195 million, adjusted EBITDA of $245 million, and adjusted earnings per share of $3.62, with revenue growth below expectations due to macroeconomic factors [2][3] - Consolidated operating margins expanded by approximately 40 basis points year over year [2] - Adjusted earnings per share grew 19% year over year, maintaining a trajectory for 12% to 16% earnings growth for 2025 [11][31] Business Line Data and Key Metrics Changes - The EFT segment saw revenue growth of 5%, with operating income and adjusted EBITDA each growing 4%, driven by expansion in developing markets [3][4] - The epay segment experienced a revenue decline of approximately 5%, while operating income increased by 4% and adjusted EBITDA by 2%, primarily due to a shift in the wholesale mobile top-up business [5][6] - Money transfer revenue grew 1% year over year, with a 32% increase in direct-to-consumer digital transactions, although operating income and adjusted EBITDA decreased by 2% and 1% respectively [6][28] Market Data and Key Metrics Changes - In Europe, tourism grew approximately 3.3% year over year, but spending patterns became more selective, impacting overall consumer spending [4][5] - Remittances to Mexico declined more than 12% year over year, highlighting the impact of immigration policy changes on transaction volumes [7][14] Company Strategy and Development Direction - The company is focused on two key revenue pillars: payment and transaction processing, and cross-border and foreign exchange, with ongoing investments in digital initiatives and partnerships [15][16] - The Dandelion platform is positioned as a leader in real-time cross-border payments, with new partnerships enhancing its capabilities [16][27] - The company plans to launch stablecoin-enabled use cases in early 2026, integrating digital assets into its payment network [18][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that global economic uncertainty and immigration policy changes have created transitory headwinds but expressed confidence in the underlying fundamentals of the business [13][14] - The company expects to finish the year with earnings growth similar to the third quarter, reaffirming its guidance of 12% to 16% year-over-year earnings growth [8][31] Other Important Information - The company ended the third quarter with $1.2 billion in unrestricted cash and $2.3 billion in debt, having completed a $1 billion convertible bond offering to strengthen financial flexibility [9][30] - Share repurchases have returned approximately 85% of annual earnings to shareholders over the past four years, with $130 million repurchased in the third quarter [10][30] Q&A Session Summary Question: Can you unpack the slight softness in the EFT segment? - Management noted that consumers are being cautious with spending due to increased costs in travel and economic uncertainty, impacting ATM transactions more than merchant acquiring [34][35] Question: What changed in the money transfer segment? - Management observed a choppy trend in transaction volumes, with October showing stronger performance compared to September, indicating potential recovery [36][37] Question: Can you discuss pricing trends in money transfer? - Pricing remained consistent overall, with some regional variations, particularly in the Middle East, but did not adversely impact third-quarter results [41][43] Question: What is the outlook for digital transaction penetration in money transfer? - The company aims to increase digital transaction penetration from 16% to higher levels, with a focus on omnichannel strategies to cater to customer preferences [44][46] Question: How does the company view future growth amidst macro challenges? - Management expressed confidence in achieving double-digit EPS growth in 2026, citing numerous growth opportunities and the strength of their asset base [80][81]

Core Insights - Hong Kong's market watchdog has approved ChinaAMC's Solana ETF, marking it as the city's first spot vehicle for direct exposure to SOL, with trading expected to commence by October 27 on the Hong Kong Stock Exchange [1] - The fund aims to closely track the performance of SOL and will invest all its assets in the cryptocurrency, following the CME CF Solana-USD Index [2] - The approval of the Solana ETF comes amid a tightening regulatory environment in Hong Kong's digital-asset sector, contrasting with delays in the U.S. regarding similar ETF approvals [3] Group 1: ETF Details - The ChinaAMC Solana ETF will trade under tickers 3460 (HKD), 83460 (RMB), and 9460 (USD) in 100-share lots on the HKEX Main Board [1] - Transactions will be conducted through SFC-licensed virtual-asset trading platforms, and the fund will not stake any portion of the SOL held by the sub-fund [2] Group 2: Market Implications - The approval is seen as a confidence booster for Solana in Hong Kong, differentiating it from other markets still deliberating on approval rules [4] - The new ETF is expected to attract retail interest in Asia, where Solana has a strong developer base and consumer-focused applications [5] - The listing may also draw institutional interest by providing a regulated channel for traditional finance investors, indicating that Solana is ready for broader adoption [6]

Starting Soon!Web3 Foundation (@Web3foundation):📆 October 21, 2025, 1:00 p.m. UTCThis week, we are kicking off with a two-part live stream on "Web2 to Web3: Rapid Digital Asset (Smart NFT) Deployment with Unique SDK"Part 1 tomorrow: Wallets, Collections, Tokens, and Transfers, featuring Filip Filipovich, Developer https://t.co/s1v2MLk8fv ...

Core Insights - Bakkt Holdings, Inc. has appointed Lyn Alden to its Board of Directors, enhancing its governance and strategic expertise as part of its ongoing transformation [1][2][3] - Lyn Alden is recognized for her macroeconomic insights and has a strong background in engineering and investment research, which will support Bakkt's focus on redefining financial systems [2][3][4] - Bakkt aims to build a resilient financial infrastructure that integrates digital assets, including Bitcoin and stablecoins, positioning itself at the forefront of a generational shift in finance [5][4] Company Overview - Bakkt was founded in 2018 and is focused on creating next-generation financial infrastructure that facilitates institutional participation in the digital asset economy [5] - The company provides solutions that encompass Bitcoin, tokenization, stablecoin payments, and AI-driven finance, emphasizing security and regulatory compliance [5] - Bakkt is headquartered in New York and is committed to transforming how money moves and how markets operate [5]

Web3 Technology & Development - Web3 Foundation is hosting a two-part live stream focusing on transitioning from Web2 to Web3 using a Unique SDK for rapid digital asset (Smart NFT) deployment [1] - The live stream will cover wallets, collections, tokens, and transfers [1] - Filip Filipovich (Developer Relations Manager) and Max Andreev (Software Architect) from Unique_NFTchain will be featured in Part 1 [1] Event Details - Part 1 of the live stream will be held on October 22, 2025 (implied from "tomorrow" relative to October 21, 2025) [1] - The live stream starts at 1:00 p.m UTC [1]

🚨UPDATE: UNITED STATES FEDERAL RESERVE TO HOST PAYMENTS AND DIGITAL ASSET INNOVATION CONFERENCE ON OCTOBER 21 ...