citadel securities processes 47% of us equity volume. just dropped $500m on ripple at $40b valuation. their first crypto infrastructure bet ever. franklin templeton's xrp etf decision hits in 3 weeks. citadel doesn't deploy half a billion without knowing which way regulatory winds blow. xrp at $0.52. ...

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Mastercard remains on the hunt for potential acquisitions, but the card network’s executives declined Thursday to comment on a report the company may acquire the crypto infrastructure business Zerohash. The card network is in the late stages of talks to buy the startup for as much as $2 billion, the digital magazine Fortune reported Thursday, citing unnamed sourc ...

Mastercard to acquire crypto infrastructure startup Zerohash in deal worth up to $2 billion: Fortune https://t.co/2OXVfIim8E ...

Core Insights - Cathie Wood's ARK Invest is experiencing significant gains in 2025, with the ARK Innovation ETF (ARKK) up over 57% year-to-date, ARK Next Gen Internet up nearly 65%, and ARK Autonomous Tech & Robotics up 47%, all outperforming the S&P 500's 15% total return [1] Group 1: Investment Strategy - Cathie Wood's investment approach is characterized by large bets on disruptive technologies and a willingness to endure market volatility, which has aligned well with current narratives in AI and software [2] - ARK Invest has made substantial investments in Chinese tech companies, particularly Alibaba and Baidu, indicating confidence in the recovery of China's tech sector [3][4] Group 2: Recent Transactions - On October 2, ARK Innovation ETF purchased 45,478 shares of Baidu for $6.25 million and 14,453 shares of Alibaba for $2.64 million, reflecting a strategic focus on Chinese tech leveraging AI [4] - ARKQ, the Autonomous Technology & Robotics ETF, also made a smaller investment in Kodiak, a robotaxi company, indicating diversification within the tech sector [5] Group 3: Portfolio Adjustments - ARK trimmed its position in Roku by selling 64,782 shares worth $6.71 million, despite Roku's 39% year-to-date rally, suggesting a cautious outlook on the streaming platform [6] - ARK exited 44,209 shares of Brera Holdings for $1.09 million, securing profits after a 320% surge, following significant investments in the company for its pivot into crypto infrastructure [7] Group 4: Recent Activity in Chinese Tech - In the last 30 days, ARK has made multiple purchases in Baidu and Alibaba, reinforcing its commitment to Chinese tech, with significant buys recorded on September 22 and 30 [8][9]

Regulatory Advantage - Double Zero (代号 $2Z) 获得 SEC 无异议函花费 18 个月和 200 万美元法律费用，竞争对手复制需要相同的时间 [1] - $2Z 在加密基础设施领域获得 18 个月的监管垄断期 [1] Institutional Adoption - Coinbase 和 Galaxy 已经运行验证器，因为合规部门已批准 [1] - 机构在部署前需要 3-6 个月的内部审查 [1] Strategic Implication - 行业应抢先应对合规滞后 [1]

Funding & Strategy - Brera Holdings, listed on NASDAQ, secures $300 million in an oversubscribed PIPE (Private Investment in Public Equity)[1] - The company pivots to Solana-based crypto infrastructure and rebrands as Solmate[1]

Company Transformation & Leadership - Brera Holdings 将更名为 Solmate，转型为基于 Solana 的数字资产金库 (DAT) 和加密基础设施公司 [1] - Marco Santori，前 Kraken 首席法务官，将担任 Solmate 的 CEO [1] Funding & Investment - Solmate 完成了由阿联酋 Pulsar Group 领投的 3 亿美元超额认购 PIPE 融资 [1] - Ark Invest, RockawayX 和 Solana 基金会也参与了此轮融资 [1] Listing Plans - 公司计划在纳斯达克和阿联酋交易所进行双重上市 [1]

Group 1: Ark Invest's Trades - Ark Invest sold shares of Tempus AI Inc and purchased shares of Brera Holdings PLC, Pony AI Inc, and Baidu Inc, indicating a strategic focus on the tech and AI sectors [1] - The acquisition of Brera Holdings involved purchasing 6,500,001 shares across multiple ETFs, including ARK Innovation ETF, Ark Fintech Innovation ETF, and ARK Next Generation Internet ETF [2] - The total value of Brera Holdings shares acquired by Ark Invest is approximately $161.85 million, with the stock closing at $24.90, reflecting a 225.49% increase [3] Group 2: Brera Holdings and Solmate - Brera Holdings will rebrand as Solmate, focusing on becoming a Solana-based digital asset treasury and crypto infrastructure company, following a $300 million investment [4] - Solmate aims to accumulate and stake Solana, deploying advanced validator infrastructure in the UAE, and will continue operating Brera's multi-club sports ownership business [5] Group 3: Tempus AI Trade - Ark Invest offloaded 43,157 shares of Tempus AI, valued at approximately $3.76 million, amid the company's recent FDA clearance for its AI-powered cardiac imaging platform [6] - Tempus AI's stock closed at $87.07, showing a slight increase of 0.72%, with a price target raised to $98 by HC Wainwright & Co [7] Group 4: Pony AI Trade - Ark Invest acquired 31,764 shares of Pony AI, valued at approximately $554,917, with the company reporting a 75.9% year-over-year revenue growth driven by its Robotaxi services [8] - Pony AI's stock price remained unchanged at $17.47, with a prior purchase of $1.5 million worth of shares [9] Group 5: Baidu Trade - Ark Invest added 5,033 shares of Baidu, valued at approximately $680,713, with the stock closing at $135.25, experiencing a slight dip of 1.87% [10]

Core Insights - Gemini Space Station's IPO raised $425 million, marking a strong debut for a digital asset platform [1] - The IPO priced 15.2 million shares at $28 each, exceeding initial guidance [1][2] - Demand for the offering was significantly high, with orders exceeding supply by more than twentyfold [2] Company Overview - The IPO gives Gemini a market valuation of over $3 billion, with trading expected to begin under the symbol GEMI [4] - The Winklevoss twins will retain approximately 94.5% of voting power post-IPO, ensuring control over the company [5][6] Market Context - The listing occurs during a period of recovery for digital asset valuations, coinciding with Bitcoin's rise above $115,000 [7] - Investors are showing increased interest in established exchanges, anticipating growth in various crypto-related services [7][8] Financial Structure - Nasdaq committed to purchasing $50 million worth of stock in a private placement at the IPO price [3] - The IPO's structure capped proceeds at $425 million, reflecting a strategy to maximize pricing while maintaining equity control [5]

Core Insights - Canaan Inc. is discontinuing its non-core AI semiconductor business to focus on its primary operations in crypto-related businesses, specifically bitcoin mining machine sales, self-mining operations, and consumer mining products [1][2][5] - The decision aims to streamline operations, enhance capital efficiency, and reduce expenditures unrelated to the company's core business lines [2][4] - The AI semiconductor business generated approximately US$0.9 million in revenue for fiscal year 2024, accounting for around 15% of the company's total operating expenses [3] Strategic Realignment - The company has been exploring strategic options for its AI semiconductor business since March 2022, including potential asset sales or orderly wind-downs [4] - After discontinuing the AI semiconductor unit, the company expects a significant decline in operating expenses [4] - The CEO emphasized that focusing on core strengths in crypto infrastructure and bitcoin mining is the most strategic path forward for the company [5] Company Background - Canaan Inc. was established in 2013 and specializes in ASIC high-performance computing chip design, chip R&D, computing equipment production, and software services [6] - The company is known for shipping the world's first batch of mining machines incorporating ASIC technology in bitcoin's history under the brand name Avalon [6]