NEW: 🇺🇸 Bo Hines claims the "President’s Working Group on Digital Assets has completed the 180-day report" and they will release the on July 30th. https://t.co/Se7REuhAXI ...

🇺🇸 JUST IN: Bo Hines says the President’s Working Group on Digital Assets will release its 180-day report on July 30, positioning the U.S. as a leader in digital asset policy. https://t.co/Tieiw9wv1Q ...

Regulatory Landscape - The President's Working Group on Digital Assets is expected to release its 180-day report publicly on July 30th [1] - The report is anticipated to provide insights into how the US is planning to build its Bitcoin Strategic Reserve [1] - The US is positioning itself as a leader in digital asset policy [1]

Core Insights - GameStop Corp. (GME) has seen a significant decline in its stock price, dropping 10.4% over the past three months, underperforming the Zacks industry rally of 28.9% and the sector's growth of 16.8% [1][4][11] - The company's first-quarter fiscal 2025 results revealed a total net sales decline of 16.9% year over year to $732.4 million, primarily due to sharp drops in hardware and software sales [16][20] - GameStop is undergoing a strategic transformation to evolve from a traditional video game retailer to a technology-driven company, focusing on digital assets and collectibles [21][27] Financial Performance - Hardware and accessories sales fell 31.7% year over year to $345.3 million, while software sales decreased 26.7% to $175.6 million, indicating a shift in consumer preferences towards digital gaming [16][20] - U.S. revenues declined 12.9% to $537.5 million, with significant contractions in European markets, which plunged 47.4% to $74.8 million [17][20] - Despite cost-cutting measures, GameStop reported an operating loss of $10.8 million for the fiscal first quarter, highlighting ongoing profitability challenges [19][20] Strategic Initiatives - GameStop's collectibles business saw a remarkable growth of 54.6% year over year to $211.5 million, now representing 28.9% of total sales [22] - The company reduced adjusted selling, general and administrative (SG&A) expenses by nearly 25%, resulting in a gross profit increase of 3.4% to $252.8 million [23][24] - GameStop's cash position improved significantly, holding over $6.4 billion in cash and marketable securities, supported by a strong free cash flow of $189.6 million [26][27] Market Position - GameStop's stock trades at a forward 12-month price-to-sales (P/S) ratio of 3.31, lower than the industry's average of 3.75, indicating a discounted status relative to its peers [13][14] - The company has made a bold move into digital assets by acquiring 4,710 Bitcoin, signaling its commitment to embracing emerging technologies [27] - The Zacks Consensus Estimate for the current fiscal year has been raised to 75 cents a share, while the estimate for the next fiscal year has decreased to 36 cents [28][29]

Digital Assets Integration - A company is providing insight into the incorporation of digital assets into professionally managed investment accounts [1]

Core Insights - Grayscale Investments announced that its Grayscale® Bitcoin Mini Trust ETF (BTC) has achieved over $5 billion in assets under management (AUM) since its launch on July 31, 2024, highlighting strong investor demand and institutional interest in digital assets [1][3]. Company Overview - Grayscale Investments is the largest digital asset-focused investment platform, founded in 2013, with a decade-long track record in the industry [8]. - The company provides a range of investment products that allow investors to access the digital economy, including single asset, diversified, and thematic exposure [8]. Product Details - The Grayscale Bitcoin Mini Trust ETF (BTC) is an exchange-traded product that is not registered under the Investment Company Act of 1940, meaning it is not subject to the same regulations as traditional ETFs [2]. - BTC has a low annual fee of 0.15% (15 basis points), which has contributed to its appeal among asset allocators [3]. - As of July 14, 2025, BTC surpassed $5 billion in AUM within its first year, a milestone achieved by only nine ETF products [3]. Market Trends - The growing momentum behind BTC reflects an increasing role of cryptocurrencies in diversified investment portfolios, with a notable shift towards Bitcoin exposure among institutional investors [3][4]. - BTC is now available for advisor solicitation on major national broker-dealer platforms, facilitating easier incorporation into client portfolios [4]. Strategic Focus - Grayscale aims to provide investment vehicles through familiar structures, enabling allocators to access digital assets with confidence as they become integral to modern portfolios [5].

Core Viewpoint - Cango Inc. has successfully transformed into a global Bitcoin miner, appointing a new Board of Directors and senior management team with extensive expertise in digital-asset infrastructure, finance, and energy investments [1][2]. Management Changes - The Board appointed Mr. Xin Jin as Chairman, Mr. Peng Yu as CEO, Mr. Chang-Wei Chiu as Director, Mr. Yongyi Zhang as CFO, and Mr. Simon Ming Yeung Tang as Chief Investment Officer [2]. - Resignations included Mr. Xiaojun Zhang as Director and Chairman, and Mr. Jiayuan Lin as CEO and Interim CFO, effective immediately [2]. Leadership Expertise - Mr. Xin Jin has a background in the crypto mining industry and has grown Antalpha Platform Holding Company to over $1.6 billion in assets under management [3]. - Mr. Peng Yu has over 18 years of experience in BTC mining, energy, M&A, and asset management, with a strong track record in the Bitcoin mining ecosystem [4]. - Mr. Chang-Wei Chiu has served in various financial roles, including Chief Investment Officer at Antalpha Capital [5]. - Mr. Yongyi Zhang brings continuity and extensive capital markets experience from his previous role as CFO at Cango [6]. - Mr. Simon Ming Yeung Tang has a background in corporate finance and investment banking, previously working at Credit Suisse [7]. Company Progress and Strategy - Cango has made significant progress in the past 7 months, becoming one of the largest Bitcoin miners globally, with a current deployment of over 50 EH/s [8]. - The company aims to grow its treasury of more than 4,000 Bitcoins and develop sustainable, high-performance computing opportunities, focusing on green energy [9]. - Cango's transformation into Bitcoin mining aligns with its strategic goal of diversifying its business portfolio, while still operating its online international used car export business [10]. Shareholder Changes - The resignation of co-founders coincided with a secondary sale of 10 million Class B ordinary shares for $70 million, with the co-founders converting remaining shares to Class A [9]. - Post-conversion, the co-founders hold 18.54% of total outstanding shares and 12.07% of voting power, while Enduring Wealth Capital Limited holds approximately 2.82% of total shares and 36.73% of voting power [9].

Industry Advocacy & Policy - Crypto companies and digital asset advocates increased lobbying efforts this year [1] - The industry secured its first major policy victory in Washington [1] - Lobbying aimed to ensure passage of landmark legislation [1]

Regulatory Landscape & Legislation - Discussion on the past, present, and future of cryptocurrency legislation in the US [1] - Examination of the impact of NYC BitLicense on the crypto industry [1] - Analysis of the potential role of the CFTC in regulating digital assets [1] - Exploration of challenges to bipartisan support for crypto legislation [1] - Consideration of the next steps for digital asset regulation in the Senate [1] Political & Lobbying Influence - Importance of lobbying efforts for the crypto industry [1] - Analysis of shifting bipartisan attitudes towards cryptocurrency [1] - Assessment of Democrat interest in crypto [1] - Discussion of Trump's potential impact on digital asset regulation [1] Market Trends & Future Outlook - Examination of the merging of crypto and traditional finance (TradFi) [1] - Discussion on the potential impact of digital assets on USD hegemony [1]

Core Insights - DeFi Technologies' subsidiary Valour has surpassed US$1 billion in assets under management (AUM), reaching US$1,009,993,748 as of July 22, 2025, marking a 31% increase from US$771 million on May 30, 2025, driven by strong investor demand and rising digital asset prices [1][2][6] Group 1: AUM Growth and Market Demand - Valour's AUM growth reflects continued investor interest in regulated digital asset products and the increasing market value of the underlying digital assets [2][6] - The company reported earning US$10 million in staking and lending income and US$2.6 million in management fees in Q1 2025, with a blended yield of approximately 8% on staked AUM [8] Group 2: Product Offering and Market Position - Valour offers the most diverse array of digital asset ETPs globally, providing access to a wide range of cryptocurrencies, including major Layer 1s, staking assets, and emerging tokens [3] - The company has over 75 listed products across European exchanges, positioning itself as a leader in regulated digital asset ETPs [4] Group 3: Global Expansion Strategy - Valour is expanding into high-growth international markets, including Asia, Africa, and the Middle East, through strategic partnerships with AsiaNext, SovFi, the Nairobi Securities Exchange, and Misyon Bank [4][7][6] - The partnerships aim to create, issue, and trade digital asset ETPs in emerging markets with developing digital asset infrastructure and regulatory clarity [4][7] Group 4: Revenue Model and Sustainability - Valour employs a vertically integrated model that combines staking, lending, and management fees, generating recurring cash flows and supporting sustainable growth as AUM increases [5][6] - The company retains the 8% blended yield on staked AUM as profit, enhancing its financial sustainability [8]