Financial Data and Key Metrics Changes - In Q3 2025, total net revenue reached RMB 1.96 billion, reflecting a 23.9% year-over-year increase but a 13.7% decline sequentially from Q2 [6][14] - Income from operations was RMB 331.9 million, down 29.9% year-over-year and 46.4% sequentially, primarily due to higher provisions for credit losses [14] - Net income was RMB 421.2 million, up 12.1% year-over-year but down 20.2% sequentially [14] - The delinquency rates increased, with the 31-60 day delinquency rate rising to 1.85% from 1.16% in Q2 and 1.02% a year ago [7][14] Business Line Data and Key Metrics Changes - The company facilitated and originated RMB 33.64 billion in loans, an 18.7% increase year-over-year but a 13.7% decline sequentially [4][10] - The outstanding loan balance at the end of the quarter was RMB 62.83 billion, up 37.3% from the previous year [10] - Approximately 3.48 million loans were facilitated, representing a 32% increase year-over-year, with an average loan size of RMB 9,654 [10] Market Data and Key Metrics Changes - The active borrower base was approximately 2.44 million, down 14.4% sequentially but up 24.2% year-over-year [10] - The regulatory environment remains stringent, with a focus on consumer protection and responsible lending practices [9] Company Strategy and Development Direction - The company is prioritizing asset quality and risk management over short-term volume expansion, reflecting a strategic shift in response to regulatory pressures [4][9] - There is a commitment to maintaining a compliance-first mindset and adapting to evolving regulatory standards [9][10] - The focus is on cost efficiency and disciplined execution to ensure long-term value preservation [12] Management's Comments on Operating Environment and Future Outlook - Management expects challenges to persist in the coming quarters but remains confident in the company's ability to navigate these with prudence [18] - The outlook for Q4 2025 anticipates total loan facilitation in the range of RMB 21 billion to RMB 23 billion, reflecting a measured pace of origination [17] - Management acknowledges the potential for continued pressure on industry pricing and profitability due to regulatory changes [9][10] Other Important Information - The company repurchased approximately $67.9 million in shares under its buyback program, with about $48 million remaining under the existing plan [16][26] - The balance sheet remains strong, with total assets at RMB 14.69 billion, up 26.4% year-over-year [15] Q&A Session Summary Question: What is the expected take rate for Q4 given the current risk situation? - Management indicated that the new regulatory regime will likely have a material negative impact on volume, margin, and profitability, making it premature to discuss specific take rates [24][25] Question: Is the company considering returning more capital to shareholders? - Management confirmed that capital return remains a key strategy, with ongoing share repurchases and a commitment to maintaining dividends despite industry pressures [26][27] Question: How does management view the regulatory environment going into early 2026? - Management expressed uncertainty about future regulatory actions but emphasized a focus on compliance and consumer protection [32] Question: Can management provide more details on the uptick in delinquencies? - Management acknowledged the increase in delinquencies due to broader economic challenges and indicated that they expect the delinquency rate to continue climbing in the short term [33][34]

Financial Data and Key Metrics Changes - In Q3 2025, total net revenue reached RMB 1.96 billion, reflecting a 23.9% year-over-year increase but a 13.7% decline sequentially from Q2 [14][5] - Income from operations was RMB 331.9 million, down 29.9% year-over-year and 46.4% sequentially, primarily due to higher provisions for credit losses [15] - Net income was RMB 421.2 million, up 12.1% year-over-year but down 20.2% sequentially [15] - The delinquency rates increased, with the 31-60 day delinquency rate rising to 1.85% from 1.16% in Q2 and 1.02% a year ago, and the 91-180 day delinquency rate increasing to 3.52% from 2.91% in Q2 [6][15] Business Line Data and Key Metrics Changes - The company facilitated and originated RMB 33.64 billion in loans, an 18.7% increase year-over-year but a 13.7% decline sequentially [4][11] - The outstanding loan balance at the end of the quarter was RMB 62.83 billion, up 37.3% from the previous year [11] - Approximately 3.48 million loans were facilitated, representing a 32% increase year-over-year, with an average loan size of RMB 9,654 [11] Market Data and Key Metrics Changes - The active borrower base was approximately 2.44 million, which is 14.4% lower sequentially but 24.2% higher year-over-year [11] - The regulatory environment remains stringent, with a focus on consumer protection and responsible lending practices, impacting industry pricing and profitability [10][11] Company Strategy and Development Direction - The company is prioritizing asset quality and risk management over near-term volume expansion, reflecting a deliberate moderation in growth pace [4][19] - There is a commitment to maintaining a compliance-first mindset amid evolving regulatory standards, which is seen as a foundation for long-term stability [10][11] - The focus is on cost efficiency and disciplined execution, ensuring that expenses align with the current measured pace of activity [12][13] Management's Comments on Operating Environment and Future Outlook - Management expects challenges to persist in the coming quarters but remains confident in the ability to navigate them with prudence and maintain profitability [19] - The outlook for Q4 2025 anticipates total loan facilitation in the range of RMB 21 billion to RMB 23 billion, reflecting a continued focus on asset quality and credit discipline [18] - The company acknowledges the potential for further increases in delinquency rates due to broader economic conditions but believes that tighter underwriting will lead to better quality vintages over time [35][36] Other Important Information - The company repurchased approximately $67.9 million in shares under its buyback program, with about $48 million remaining under the existing plan [17][26] - The balance sheet remains strong, with total assets at RMB 14.69 billion, up 26.4% year-over-year, and total shareholders' equity at RMB 7.93 billion, up 15% year-over-year [16] Q&A Session Summary Question: What is the expected take rate for Q4 given the current risk situation? - Management indicated that the new regulatory regime will likely have a material negative impact on volume, margin, and profitability, making it premature to discuss specific take rates [24][25] Question: Is the company considering returning more capital to shareholders given lower business volume? - Management confirmed that capital return remains a priority, with ongoing share repurchases and a commitment to maintain dividends despite industry-wide margin pressures [25][26] Question: How does management view the regulatory environment going into early 2026? - Management expressed uncertainty about future regulatory actions but emphasized a focus on compliance and consumer protection, which may lead to a cautious approach in loan origination [28][29] Question: What is the outlook on delinquencies? - Management acknowledged the uptick in delinquencies due to broader economic challenges but expects stabilization within one to two months as tighter underwriting takes effect [30][31][36]

CZ's Lawyer: CZ Is the Only Person in History With No Criminal Record Ever Prosecuted and SentencedCZ's personal attorney, Teresa Goody Guillén, stated in a November 15 interview on The Pomp Podcast that the charges against CZ were fundamentally regulatory compliance issues — they did not involve money laundering, fraud, victims, or any criminal conduct. She emphasized that throughout the history of major financial institutions, no executive has ever been personally charged for similar violations. CZ became ...

Core Points - The Central Bank of Ireland has imposed a fine of nearly €21.5 million ($24.7 million) on Coinbase Europe Limited for failing to monitor money laundering and terrorist financing effectively [1][2] - The penalty is attributed to coding errors in the transaction monitoring system that affected operations during 2021 and 2022 [2][6] - Coinbase's average annual revenue from 2021 to 2024 was reviewed to determine the fine's value, totaling €417 million [3] Compliance and Operations - Coinbase is a registered Virtual Asset Service Provider (VASP) in Europe and is required to monitor customer transactions for suspicious activities [3][4] - The company failed to supervise approximately 31 transactions over a 12-month period, with a total value exceeding €176 billion [5] - Despite the settlement, Coinbase is committed to regulatory compliance and has made efforts to rectify coding errors in its Transaction Monitoring System, although some loopholes remain [6] Strategic Moves - Coinbase has been expanding its operations, including a recent investment in CoinDCX, a major cryptocurrency exchange in India, and the acquisition of Echo, an on-chain capital raising platform [7]

As of Oct. 31, top cryptocurrency exchange Bybit will no longer allow new Japanese users to register on its platform. Markedly, this is only a temporary arrangement that will remain for as long as it takes for it to comply with regulatory guidelines set by the Financial Services Agency of Japan. Will Bybit Ban All Users? This move reflects the exchange’s commitment to investors’ protection and regulatory compliance across jurisdictions. This move applies to both individuals and corporations in Japan, but ...

🚨UPDATE: BYBIT TO SUSPEND NEW USER REGISTRATIONS IN JAPAN FROM OCTOBER 31 AMID REGULATORY COMPLIANCE MEASURES ...

Core Insights - The crypto market experienced a downturn due to Bitcoin's drop to $108,000, but Hedera's native token HBAR surged by 7% to $0.2094, with a market capitalization of $8.8 billion and a trading volume increase of 8.59% to nearly $800 million [1] - The launch of the Canary HBAR ETF on Nasdaq marked a significant moment for institutional adoption, with $2.2 million in inflows on its second trading day [2][3] - Hedera's architecture is designed for regulatory compliance and enterprise applications, distinguishing it from other projects [3][5] Institutional Interest - Beyond the Canary HBAR ETF, there are 12 additional ETFs referencing Hedera filed by major firms, indicating growing institutional interest [4] - Hedera has surpassed all Layer-1 blockchains except Ethereum in terms of monthly active developers, reflecting its increasing traction among builders [4] Technological Developments - The introduction of Verifiable Governance for AI agents, in collaboration with EQTY Lab, Accenture, and NVIDIA, is another factor driving HBAR's momentum [6] - This system provides tools for encrypted attestations, on-chain governance, and regulatory compliance for government agencies and enterprises [7]

Core Insights - FTI Consulting has appointed Warren Dunn as Senior Managing Director and Leader of the Risk Advisory practice in Australia, bringing extensive experience in risk and regulation, particularly in financial services [1][2][4] Company Overview - FTI Consulting is a global expert firm specializing in crisis and transformation, with over 7,900 employees across 32 countries and territories as of June 30, 2025 [7] - The company generated $3.70 billion in revenues during fiscal year 2024 [7] Appointment Details - Warren Dunn has three decades of experience in risk management, focusing on non-financial risk, regulatory compliance, and complex customer remediation [2][3] - His previous role was as a Partner at a Big Four firm, where he supported clients in banking, insurance, and wealth management [4] Strategic Focus - In his new role, Dunn will enhance the Risk Advisory practice by addressing the evolving needs of Australian businesses amid changing market conditions [3][6] - He will utilize forensic technology and advanced data analytics to assist clients in managing risks related to fraud, misconduct, and compliance breaches [3] Regulatory Environment - The regulatory landscape is increasingly focused on digital transformation, compliance, and scrutiny, with heightened requirements in operational risk, cyber resilience, and anti-money laundering [4][6] - Dunn's expertise will help clients navigate these regulatory changes effectively [6]

Core Insights - Rua Gold Inc. has appointed Simon Delander as Vice President of Risk, Stakeholder & Regulatory Affairs to strengthen its executive team in New Zealand [1][2] - Delander will focus on permitting the Reefton Project and managing regulatory compliance, government relations, and ESG-related risks [2][5] - The company aims to enhance stakeholder engagement and navigate the regulatory landscape effectively [6] Group 1: Appointment and Role - Simon Delander has over 25 years of experience in regulatory affairs and stakeholder engagement within the resource sector [4] - His previous role was Vice President at Endura Mining, where he successfully guided the company through the consenting process [3][4] - Delander has held senior positions at Evolution Mining and MMG, overseeing ESG reporting and risk assessments [5] Group 2: Company Overview - Rua Gold is focused on exploration in New Zealand, controlling over 120,000 hectares in the Reefton Gold District, which historically produced over 2 million ounces of gold [9] - The Glamorgan Project further solidifies Rua Gold's position as a leading high-grade gold explorer, located in a region that has produced 15 million ounces of gold and 60 million ounces of silver [10] - The company is committed to aligning its growth objectives with environmental and social responsibilities [5][6]

Performance & Reliability - OKX boasts a median latency of 3 milliseconds and zero downtime [1] - OKX is licensed across the USA, EU, and more regions [1] Compliance & Security - OKX has a team of over 500 compliance professionals from top banks and agencies [1] - OKX is trusted by institutions and verified by monthly Proof of Reserves (PoR) [1] Infrastructure - OKX emphasizes its real infrastructure [1]