Funding & Support - Cointelegraph Accelerator aims to support and fund innovative DeFi and FinTech projects [1] - Early-stage projects can receive over $10 thousand in grants [1] - Projects may gain access to $1 million in funding [1] - Up to $200 thousand in media products are available for projects [1] - Elite mentorship is offered to supported projects [1] Application Details - Applications are open until October 17th [1] - Cointelegraph Accelerator encourages recommendations of early-stage projects raising funds or preparing for launch [1]

Group 1 - Khaveen Investments is a global Investment Advisory Firm serving high-net-worth individuals, corporations, associations, and institutions [1] - The firm offers comprehensive services including market and security research, business valuation, and wealth management [1] - The flagship Macroquantamental Hedge Fund maintains a diversified portfolio across various asset classes, geographies, sectors, and industries [1] Group 2 - The investment approach integrates top-down and bottom-up analysis, blending global macro, fundamental, and quantitative strategies [1] - Core expertise lies in disruptive technologies such as Artificial Intelligence, Cloud Computing, 5G, Autonomous and Electric Vehicles, FinTech, Augmented and Virtual Reality, and the Internet of Things (IoT) [1]

Company Overview - Khaveen Investments is a global investment advisory firm serving high-net-worth individuals, corporations, associations, and institutions [1] - The firm offers a range of services including market and security research, business valuation, and wealth management [1] Investment Strategy - The flagship Macroquantamental Hedge Fund maintains a diversified portfolio with exposure to hundreds of investments across various asset classes, geographies, sectors, and industries [1] - The investment approach integrates top-down and bottom-up analysis, blending three core strategies: global macro, fundamental, and quantitative [1] Core Expertise - Khaveen Investments specializes in disruptive technologies that are transforming modern industries [1] - Key focus areas include Artificial Intelligence, Cloud Computing, 5G, Autonomous and Electric Vehicles, FinTech, Augmented and Virtual Reality, and the Internet of Things (IoT) [1]

Financial Data and Key Metrics Changes - The company reported a net asset value (NAV) of $9.18 per share, a 38% increase from the prior quarter, marking the largest increase since inception [6][30] - The increase in NAV was primarily driven by net unrealized appreciation of the investment portfolio and realized gains from the sale of investments [30] Business Line Data and Key Metrics Changes - CoreWeave's stock price increased over 200% following its IPO, reflecting strong investor conviction [9] - The company sold approximately 40% of its initial CoreWeave investment, generating $25.3 million in net proceeds and $15.3 million in realized gains [10][11] - The company fully exited its investment in ServiceTitan, realizing a gain of approximately $6 million [11] Market Data and Key Metrics Changes - OpenAI is generating over $13 billion in annual recurring revenue (ARR), with projections of reaching $20 billion by year-end [13] - Canva's annual recurring revenue is now $3.3 billion, up 50% since May 2024, with 240 million monthly active users [18] Company Strategy and Development Direction - The company is focused on AI infrastructure investments, which accounted for approximately 33% of the investment portfolio at fair value [29] - The company plans to continue monetizing investments as portfolio companies become public and shares are freely tradable [11][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing trends in AI capital expenditures and the reopening of the IPO market [6][7] - The company anticipates declaring additional distributions throughout the year based on ongoing portfolio activity [31] Other Important Information - The company declared a cash dividend of $0.25 per share, paid on July 31, to shareholders of record as of July 21 [11][31] - The company ended the quarter with approximately $52.4 million in liquid assets, including $49.9 million in cash [31] Q&A Session Summary Question: Thoughts on the second quarter dividend and potential size of dividends in Q3 and Q4 - Management projected ongoing monetizations of public companies and anticipates declaring at least one and possibly two distributions targeting one towards the end of Q3 and another towards the end of the year [34][37]

Group 1 - Khaveen Investments is a global Investment Advisory Firm serving high-net-worth individuals, corporations, associations, and institutions [1] - The firm offers comprehensive services including market and security research, business valuation, and wealth management [1] - The flagship Macroquantamental Hedge Fund maintains a diversified portfolio across various asset classes, geographies, sectors, and industries [1] Group 2 - The investment approach integrates top-down and bottom-up analysis, blending global macro, fundamental, and quantitative strategies [1] - Core expertise lies in disruptive technologies such as Artificial Intelligence, Cloud Computing, 5G, Autonomous and Electric Vehicles, FinTech, Augmented and Virtual Reality, and the Internet of Things (IoT) [1]

Company Overview - Alkami is a cloud-based digital banking platform serving U S financial institutions [5] - The company enables FIs to effectively compete with larger, more technologically advanced competitors [6] - Alkami empowers FIs to grow, drive user engagement, and improve operational efficiency [8] Market Opportunity and Strategy - Alkami's addressable market includes FIs with assets from $100 million to $450 billion, representing over 250 million digital users [11] - The total addressable market (TAM) is approximately $14 billion, based on 250 million digital users and $58 revenue per user (RPU) [12, 13] - The company focuses on the top 2,500 FIs, excluding megabanks, with an industry average contract length of 5 years, translating to approximately 500 annual renewals [16] - MANTL acquisition positions Alkami as a premier digital banking provider, expanding the market and stimulating go-to-market strategy [31] Financial Performance and Guidance - Q2 2025 revenue growth was 36%, driven by the MANTL acquisition, new clients, user growth, and ARPU growth [45] - The company's ARR increased 32% to $424 million [46] - Remaining performance obligation (RPO) reached $1.6 billion, representing 3 7 times live ARR [46] - Full year 2025 revenue guidance is $443 million to $447 million, with adjusted EBITDA guidance of $51 5 million to $54 0 million [69]

Core Insights - PayPal Holdings reported second-quarter 2025 non-GAAP earnings of $1.40 per share, exceeding the Zacks Consensus Estimate by 7.7% and reflecting a 17.6% year-over-year increase, driven by better-than-expected revenue growth [1] - Despite the positive earnings report, PayPal's stock fell over 8% due to a decline in transaction margin dollars and a 5% decrease in payment transactions during the quarter [1] Revenue Performance - Total payment volume (TPV) reached $443.5 billion, marking a 6% year-over-year increase on a reported basis and 5% on a forex-neutral basis [3] - Net revenues amounted to $8.3 billion, up 5.1% year-over-year, surpassing the consensus estimate by 2.3% [2] - Transaction revenues were $7.4 billion, accounting for 89.8% of net revenues, with a 4% year-over-year increase [4] - Value Added Services revenues rose to $847 million, representing 10.2% of net revenues and a 15.7% year-over-year growth [4] Active Accounts and Transactions - Total active accounts increased by 2% year-over-year to 438 million [5] - Payment transactions per active account decreased by 4% year-over-year to 58.3 million [5] Guidance and Future Expectations - For 2025, PayPal raised its non-GAAP earnings guidance to a range of $5.15 to $5.30 per share, indicating an 11-14% growth year-over-year [6] - The company expects transaction margin dollars to be between $15.35 billion and $15.5 billion, suggesting a growth of 5-6% [6] - Free cash flow is projected to be between $6 billion and $7 billion, with share repurchase expected to be around $6 billion [7] ETF Exposure - PayPal stock has a 6.1% exposure to Amplify Digital Payments ETF (IPAY), a 5.7% weight in Global X FinTech ETF (FINX), and a 4.2% exposure to Madison Covered Call ETF (CVRD), indicating potential investor interest in these ETFs amid PayPal's stock decline [8]

Core Insights - DLocal (NASDAQ: DLO) is positioned as a significant player in the emerging markets and digital payments sector, headquartered in Uruguay, facilitating secure payment acceptance and transactions for global merchants [1] Company Overview - DLocal enables global merchants to securely accept and make payments, highlighting its role in the digital payments landscape [1] Analyst Background - MMMT Wealth, led by Oliver, a CPA with experience in private equity, hedge funds, and asset management, focuses on investment strategies and stock analysis, aiming for insights over a 3-5 year horizon [1] - Oliver has 5 years of investing experience and 4 years as a CPA, emphasizing a strong commitment to researching top businesses [1]

Financial Data and Key Metrics Changes - The Bancorp earned $1.27 per diluted share in Q2 2025, with year-over-year revenue growth of 11%, excluding FinTech loan credit enhancement income, and expense growth of 11% [6][9] - EPS growth was reported at 21% year-over-year [6] - Overall loan balances grew 17% year-over-year, while loan balances excluding consumer FinTech loans grew 6% [12] - Average fintech solution deposits increased 20% to $7.76 billion from $6.44 billion in Q2 2024 [12] - Net interest income was 4% higher than Q2 2024, with a net interest margin of 4.44% compared to 4.07% in Q1 2025 [12] Business Line Data and Key Metrics Changes - Noninterest income for Q2 2025 was $40.5 million, a 32% increase from Q2 2024, primarily driven by fintech fees [11] - Prepaid debit card, ACH, and other payment fees increased 14% to $31.7 million [11] - Consumer fintech loans increased 871% year-over-year to $680.5 million [12] Market Data and Key Metrics Changes - The Gross Dollar Volume (GDV) climbed 18% year-over-year, with total fee and related interest income growth from all FinTech activities growing 30% [6][7] - The company announced a five-year expansion of its relationship with Block, adding debit and prepaid card issuance for Cash App customers, expected to enhance GDV and fees in the future [7] Company Strategy and Development Direction - The Bancorp plans to increase its share repurchase program to $500 million over the next 18 months, funded by core earnings growth and replacing maturing senior unsecured debt [8][9] - The company maintains guidance of $5.25 EPS for 2025 and targets a $7 EPS run rate by the end of 2026 through fintech revenue growth and efficiency gains [9][10] - The focus is shifting towards becoming a fintech and technology platform, reallocating resources from traditional banking to fintech operations [37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to manage criticized loans and non-accruals, indicating a proactive approach to working with borrowers [26][46] - The company does not expect a significant increase in substandard loans, with visibility into borrowers' business plans [26][46] - Management highlighted the potential for AI to enhance productivity and efficiency in operations, with plans to leverage AI tools in the near future [38] Other Important Information - The company is actively working on the Aubrey property, which has seen occupancy increase from mid-thirties to mid-sixties, with plans to fund remaining renovations if necessary [32][54] - The appraisal value of the Aubrey property increased due to significant investments and improvements made during the holding period [55] Q&A Session Summary Question: Details on the new partnership with Block - The partnership involves card issuance for Cash App customers, aiming to replace Sutton Bank as the issuer over time [22] Question: Reason for lower deposits this quarter - The decrease was due to balance sheet management actions, including taking savings deposits off balance sheet and managing tax receipts [23] Question: Credit quality concerns regarding maturing loans - Management indicated that they have visibility into borrowers' plans and do not expect a spike in substandard assets [26][46] Question: Impact of AI on productivity - Management discussed the potential for AI to improve efficiency, particularly in legal and compliance processes, with plans to implement these tools in 2026 [38] Question: Status of the Aubrey property renovations - Renovations are ongoing, with a significant increase in occupancy and discussions for potential sale [32][54] Question: Legal process regarding earnest money deposits - Management expressed confidence in retaining the earnest money deposit, expecting resolution in the next quarter [62]

Financial Data and Key Metrics Changes - The Bancorp earned $1.27 per diluted share in Q2 2025, with year-over-year revenue growth of 11%, excluding FinTech loan credit enhancement income, and expense growth of 11% [6][10] - EPS growth was reported at 21% year-over-year [6] - Overall loan balances grew 17% year-over-year, while loan balances excluding consumer FinTech loans grew 6% [11] - Average fintech solution deposits increased 20% to $7.76 billion from $6.44 billion in Q2 2024 [11] - Net interest income was 4% higher than Q2 2024, with a net interest margin of 4.44% compared to 4.07% in Q1 2025 [11][12] Business Line Data and Key Metrics Changes - Noninterest income for Q2 2025 was $40.5 million, a 32% increase from Q2 2024, primarily driven by fintech fees [10] - Prepaid debit card, ACH, and other payment fees increased 14% to $31.7 million [10] - Consumer fintech loans increased 871% year-over-year to $680.5 million [11] Market Data and Key Metrics Changes - The company announced a five-year expansion of its relationship with Block, adding debit and prepaid card issuance for Cash App customers, expected to enhance GDV and fees [7] - The company anticipates purchasing $300 million worth of shares for the remainder of 2025, a 300% increase over the previous buyback program [8] Company Strategy and Development Direction - The Bancorp is targeting a $7 EPS run rate by the end of 2026 through fintech revenue growth, share buybacks, and efficiency gains [8] - The company is transitioning from a traditional banking model to a fintech and technology platform, focusing on building an ecosystem for the fintech industry [36][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to manage criticized loans and non-accrual loans, indicating a proactive approach to borrower relationships [24][48] - The company is optimistic about the impact of AI on productivity gains, with plans to leverage AI tools in various operational areas [36][37] Other Important Information - The company announced a substantial increase in its share repurchase program to $500 million over the next 18 months, funded by core earnings growth [7][8] - Management noted that the increase in criticized loans is manageable and that they do not expect a significant spike in substandard assets [24][48] Q&A Session Summary Question: Details on the partnership with Block and Cash App - The partnership involves card issuance, supplementing existing rapid funds transfer offerings, and is expected to significantly impact GDV and fee growth [19][20] Question: Reasons for lower deposits this quarter - The decrease was attributed to balance sheet management, including tax receipts and the removal of excess liquidity [21][22] Question: Credit quality and borrower repayment capabilities - Management indicated that they have visibility into borrowers' plans and are prepared to extend loans if necessary, with no expected spike in substandard assets [24][44] Question: Updates on the Aubrey property renovations and funding - Renovations are ongoing, with occupancy increasing significantly, and management is in discussions for potential sales [30][31] Question: Impact of AI on productivity and future operations - The company is exploring AI applications to enhance productivity and efficiency, with expectations for significant gains in the coming years [36][37] Question: Non-accrual loans and credit migration in the SBL book - Management noted that the increase in non-accrual loans was minimal and manageable, with no significant deterioration in the overall portfolio [64][66] Question: Capacity for new partners and programs - The company has built an infrastructure capable of supporting significantly higher volumes, indicating readiness to take on more partnerships [70]