In the latest move, asset manager Canary Capital has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to bring a staked Injective ETF to the market. As a result, investors would get a regulated exposure to the INJ cryptocurrency along with the option to earn staking rewards. Canary Capital Submits S-1 to U.S. SEC for Injective ETF As per the latest regulatory filing, asset manager Canary submitted its S-1 registration statement with the U.S. Securities and Exchange Commission for ...

Core Viewpoint - Datavault AI strongly condemns the malicious short-selling report by Wolfpack Research, claiming it contains false and defamatory statements aimed at manipulating the company's stock for economic gain [1][2]. Group 1: Company Response - Datavault AI plans to file a lawsuit against Wolfpack Research for its malicious actions and to protect shareholder rights [2]. - The company has hired legal advisors to assess its legal rights and intends to take all possible legal remedies to maintain its reputation and shareholder interests [3]. - The CEO emphasizes that market manipulation through false statements is unacceptable and that the lawsuit will detail the false and misleading claims made by Wolfpack Research [3]. Group 2: Intellectual Property and Strategic Value - Datavault AI's value is rooted in its strong intellectual property portfolio, which includes over 70 U.S. and international patents covering AI-driven data valuation, blockchain tokenization frameworks, and enterprise data monetization systems [4]. - The company asserts that its strategy is based on intellectual property and execution rather than speculation, with technologies creating value across various industries [4]. Group 3: Leadership Background - Nathaniel T. Bradley, the CEO, has over 20 years of experience in mobile marketing, audio processing, AI, and data monetization, having founded several successful companies [5]. - His leadership at Datavault AI focuses on innovations in AI data valuation and blockchain tokenization of real-world assets [5]. Group 4: Recent Achievements and Milestones - Datavault AI has established strategic alliances and completed acquisitions to enhance its data processing capabilities [10]. - The company is preparing to launch four independent data exchanges, leveraging its extensive patent portfolio to focus on real asset tokenization and transparency in political donations [10].

Core Insights - Sky Quarry (NASDAQ: SKYQ) has announced the launch of its Digital Asset Treasury (DAT) strategy, aiming to raise up to $100 million in phases to promote the tokenization of real assets and enhance balance sheet stability [1] - The company emphasizes the integration of digital assets with its core business, exploring the use of tokens for supply chain collateral and on-chain accounting to improve operational efficiency and transparency [1] Summary by Categories - **Funding Strategy** - Sky Quarry plans to raise up to $100 million through a phased approach to support its DAT strategy [1] - **Business Integration** - The company aims to combine digital assets with its main operations, focusing on the tokenization of real assets [1] - **Operational Efficiency** - Sky Quarry is exploring the use of tokens in supply chain collateral and on-chain accounting to enhance operational efficiency and transparency [1]

Group 1 - BitMine (BMNR.US) reported a total of $10.77 billion in cryptocurrency, cash, and strategic investments as of September 14, 2025 [1] - The company holds 2.151 million Ethereum, valued at $4,632 each, making it the largest holder of Ethereum globally [1] - BitMine also possesses 192 Bitcoin, $214 million in Eightco shares, and $569 million in unallocated cash [1] Group 2 - The recently signed GENIUS Act establishes the first federal regulatory framework for stablecoins in the U.S., which is expected to enhance Ethereum's liquidity and its role in asset tokenization and payment [2] - As Ethereum's applications expand, its price may significantly increase, benefiting BitMine as a major holder of Ethereum [2] - Analysts suggest that BitMine has explosive growth potential due to its leveraged Ethereum holdings, which could yield returns exceeding its net asset value [2]

Core Viewpoint - The company has officially changed its English name to "ETHK Labs Inc." and its Chinese name to "华检数字产业集团有限公司" to reflect its transformation towards becoming a digital technology infrastructure provider [1] Group 1 - The establishment of a joint venture with ETHK Group to create ETHK INC, which will focus on building a blockchain-based financial platform [1] - The new company will emphasize real-world asset tokenization (RWA) and global compliance [1] - The name change and partnership aim to enhance the liquidity of quality assets on-chain and increase long-term shareholder value [1]

Core Insights - The article discusses the rising trend of Real World Assets (RWA) in the cryptocurrency space, highlighting its potential as the next significant opportunity for growth in the industry [1][3] - RWA is defined as the tokenization of real-world assets on the blockchain, which offers advantages such as asset fragmentation, enhanced liquidity, and increased efficiency [2][3] - The development of RWA is characterized by different focuses in overseas markets, primarily on financial assets, while domestic markets emphasize industrial empowerment [4][8] RWA Development Status - RWA has gained traction since 2019, with major financial institutions like JPMorgan, Goldman Sachs, and UBS exploring this sector [3] - The total scale of on-chain RWA, excluding stablecoins, has reached $28.44 billion, a 14.74-fold increase from $1.929 billion in 2022, with 274 asset issuers and over 380,000 asset holders [4][6] - Private credit is the core area of RWA, accounting for 56.61% of the total, followed by U.S. Treasury bonds at $7.5 billion [4][6] RWA Challenges - Despite the potential, RWA faces high issuance thresholds and liquidity issues, as the underlying assets must meet specific criteria for standardization and liquidity [10][11] - The issuance process is complex and costly, with expenses for a single issuance in Hong Kong ranging from 3 to 6 million RMB, making it accessible primarily to large players [13][14] - Even successful RWA products often struggle with low liquidity, as seen with BlackRock's BUIDL, which has a high market cap but limited active holders [14][15] Future of RWA - The RWA market is expected to grow significantly, with projections estimating a global asset tokenization market size of $16.1 trillion by 2030 [10][17] - While the market is evolving with new platforms and regulatory support, challenges such as infrastructure gaps, long issuance cycles, and regulatory complexities remain [16][17] - The path forward for RWA involves a combination of technological advancements, ecosystem development, and regulatory improvements to ensure sustainable growth [16][17]

Core Insights - The publication of the book "Stablecoins: Closely Related to Every Common Person" aims to educate the general public about the development and potential impact of stablecoins on everyday life, emphasizing their importance as a risk-hedging asset and financial service tool [2] - The global stablecoin market has surpassed $250 billion in size, with a trading volume of $37 trillion, significantly exceeding Bitcoin's $19 trillion during the same period, indicating strong industry potential and technological vitality [4] Regulatory Developments - Hong Kong has become the first jurisdiction to implement a comprehensive regulatory framework for fiat-backed stablecoins with the introduction of the "Stablecoin Ordinance," effective from August 1, 2025, which accelerates the licensing process for stablecoin operators [5][6] - Major tech companies, including Ant Group, are actively seeking stablecoin licenses in Hong Kong and Singapore, reflecting China's capital and technological engagement in the international stablecoin competition [6] Understanding Stablecoins - Stablecoins are digital tokens pegged to fiat currencies (like the US dollar), gold, or a basket of assets, designed to maintain price stability. They differ from digital currencies like the digital yuan, as they are typically issued by private entities and lack legal tender status [7] - Compared to native cryptocurrencies like Bitcoin, stablecoins offer advantages such as price stability, lower transaction costs, and increasing compliance [7] Industry Chain Overview - The stablecoin ecosystem is developing a complete industry chain, which includes upstream technology support, midstream issuance and trading, and downstream application scenarios [8] - Upstream: Involves blockchain technology companies, smart contract developers, and security audit firms providing the necessary technical infrastructure [8] - Midstream: Comprises traditional financial giants and tech firms responsible for issuing stablecoins and managing assets, with exchanges facilitating trading and liquidity [9] - Downstream: Encompasses diverse financial and real-world applications, including cross-border payments, supply chain finance, and asset tokenization [10] Real-World Applications - Stablecoins are increasingly utilized in various sectors, such as: - Cross-border payments, which significantly reduce transaction fees to below 0.1% and expedite payroll processes for companies [10] - Supply chain finance, enabling rapid settlement of accounts receivable, reducing transaction times from three days to five minutes, and saving approximately 1.2% per transaction [10] - Asset tokenization, which involves representing traditional assets digitally, thereby accelerating the formation of a financial tokenization ecosystem [10]

Core Insights - Coinbase reported a significant net profit of $1.43 billion for Q2, with a GAAP EPS of $5.14, driven largely by non-recurring investment gains rather than core operational performance [1][3][4] - Despite the impressive profit figures, total revenue of $1.45 billion fell short of market expectations of $1.6 billion, indicating underlying operational challenges [2][4] Financial Performance Overview - Q2 net profit surged from $0.14 to $5.14 per share year-over-year, with adjusted EPS at $1.96, exceeding market expectations of $1.26 [2] - Total revenue increased by 3.3% year-over-year but was below market expectations, highlighting a disconnect between profit and revenue growth [2][4] Revenue Breakdown - Transaction revenue for Q2 was $764 million, a 39% decline from the previous quarter and below the expected $787 million, reflecting decreased trading activity [5] - Subscription and services revenue reached $656 million, a 9% year-over-year increase but still below the anticipated $706 million [6] - Retail trading volume grew 16% year-over-year to $43 billion, yet fell short of analyst expectations of $48 billion [7] Stablecoin Performance - Stablecoin revenue, particularly from USDC, amounted to $332.5 million, showing a 38% year-over-year increase and a 12% quarter-over-quarter increase, benefiting from Circle's successful IPO [8] - Concerns remain regarding the sustainability and scalability of this growth [9] Cost Structure and Challenges - Total operating expenses rose 15% quarter-over-quarter to $1.5 billion, including $307 million related to a data breach incident [10] - Overall spending on technology, administration, and marketing reached $977 million, with potential for further increases due to global expansion [10] Future Outlook - For Q3, Coinbase expects transaction revenue of approximately $360 million and subscription and services revenue between $665 million and $745 million, driven by rising crypto asset prices and stablecoin income [11] - The company plans to enter new sectors such as real asset tokenization and derivatives, indicating a shift from being merely a trading platform to a broader financial infrastructure operator [12][13] Summary - While Coinbase's Q2 results appear strong on the surface, underlying issues such as declining core operational performance and high expenses have raised concerns among investors, leading to a 10% drop in stock price post-announcement [1][4] - Long-term prospects may improve if the company successfully navigates new growth areas in stablecoins and blockchain finance [14]