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]

RWA发展现状：海外聚焦金融，内地发展产业 RWA，全称为Real World Assets，广义上只要将现实世界的实体资产通过代币化的形式映射至区块链上 即可称之为RWA，严格意义上，稳定币也是RWA的一种产品形式。从资产的角度考虑，RWA存在诸多 特点与优势。首先是资产的可分割性。相比于传统资产以固定单位出售的销售模式，代币化可让资产进 行碎片化分割，即以更小的单位予以出售，不仅降低了融资准入门槛，更是让囿于规模的大型资产有了 交易腾挪空间；其次，更广泛的价格发现与流动性。在现有的金融产品交易基础设施下，金融资产交易 有明显的时空限制，但通过链上代币化，可实现全天候的交易以及来自全球的定价，更符合自由市场特 征；最后，更高的效率。依托链上的代币化交易透明度高，且中间成本与耗时更少，因此RWA相比普 遍存在更高的发行效率。 在币圈，从来不缺共识。从某种程度上，作为梦想经济的承载，共识就是币圈的黄金，从Defi之夏到曾 经全网热捧的NFT，从窥见未来的Web3到骤而爆发的AI，币圈连绵不绝的风口，都源于共识本身。如 今，共识之风，吹向了RWA。 随着机构不断弥合加密与传统间的鸿沟，RWA，现实资产代币化，也被 ...

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]