Core Insights - Twenty One Capital has debuted on the New York Stock Exchange (NYSE) with a significant Bitcoin treasury, holding over 43,500 Bitcoin valued at approximately $3.9 billion, positioning itself as one of the largest corporate holders of Bitcoin [1][2] - The company's co-founder, Jack Mallers, emphasizes the listing as a means to integrate Bitcoin into traditional markets, asserting that investors should have access to a business built on Bitcoin's monetary principles [2] - Despite the institutional backing from notable entities like Tether, Bitfinex, SoftBank, and Cantor Equity Partners, the stock experienced a sharp decline of over 24% on its first trading day, reflecting investor caution regarding the company's operational strategy beyond its Bitcoin holdings [3][4] Company Overview - Twenty One Capital trades under the ticker XXI and aims to provide a defined role for Bitcoin in global markets, highlighting its potential as a reserve asset and the business opportunities it presents [1][2] - The firm is supported by Cantor Equity Partners, which has a notable lineage linked to Cantor Fitzgerald, adding institutional credibility to its market entry [3] Market Context - The debut occurs amid a challenging environment for cryptocurrencies, with Bitcoin prices having dropped approximately 30% from their peak in October, leading to a decline in related equities [5] - Digital asset treasuries (DATs) are facing increased scrutiny as their valuations are closely tied to Bitcoin's performance, prompting analysts to call for clearer business models from these entities [6]

You note that among the U.S. and Canadian listed companies that became debts, the median stock price has fallen this year. That's according to data compiled by Bloomberg. Bitcoin, by comparison, down just around 6% since the beginning of the year.Why such a big disconnect. Is it all about the leverage. Hi.Yes. So a lot of it is leverage. So these companies, in order to buy the cryptocurrencies that they're holding, a lot of them issued debt to do this.So that means that the leverage that that debt gave them ...

TIM: WELCOME TO BLOOMBERG CRYPTO. STARLET: -- BITCOIN IS AT SESSION HIGHS WITH VOLATILITY UPENDING THE CRYPTO INDUSTRY. WE WILL SPEAK TO DAVID BAILEY, THE ASSET COMPANY KNOWN FOR SHIFTING THE FAMILY ON CRYPTO.SCARLETT: AN EARLY INVESTOR IN POLYMARKET AS SCRUTINY GOES -- GROWS IN PREDICTION MARKETS. TIM: FIRST LET'S TAKE A LOOK AT WHERE BITCOIN IS. THEY ARE ACTUALLY SEEING IT AT SESSION HIGHS.REALLY BOUNCING BACK. UP ABOUT 3% SURGING THIS MORNING TO ABOUT 94,000 PER BITCOIN. THIS IS THE HIGHEST IT HAS BEEN G ...

BREAKING: Solana is now included in the Bitwise 10 crypto index fund 🔥Bitwise (@BitwiseInvest):Solana. One of the fastest and most efficient blockchains, built to bring global financial markets onchain.Now in the Bitwise 10 Crypto Index ETF (NYSE: BITW). https://t.co/1uNzsg95xe ...

After two months dominated by uncertainty, global markets are showing greater tolerance toward negative macro inputs, according to research commentary from Wintermute. Concerns surrounding central bank policy pivots, uneven macroeconomic data, and questions around the sustainability of AI-driven capex remain, but they are no longer triggering the same reflexive risk-off reaction seen earlier in the quarter. The result is a consolidation phase marked by choppy but more resilient trading patterns as price ...

Core Insights - Malaysia's Crown Prince has launched a state-backed stablecoin initiative and a significant crypto-treasury plan amidst concerns about the global digital-asset market's stability [1] Group 1: Stablecoin Initiative - Bullish Aim Sdn. Bhd. has introduced RMJDT, a ringgit-backed stablecoin, utilizing the Zetrix blockchain, which supports Malaysia's national blockchain infrastructure [2] - The rollout of RMJDT is conducted under a regulated sandbox overseen by the Securities Commission and Bank Negara Malaysia, aimed at testing financial innovations [3] - The initiative aims to enhance the ringgit's role in cross-border settlements and attract foreign direct investment, aligning with Malaysia's Digital Asset National Policy [4] Group 2: Digital Asset Treasury - Bullish Aim plans to establish a Digital Asset Treasury Company with an initial allocation of 500 million ringgit (approximately $121 million) in Zetrix tokens, with intentions to grow the treasury to one billion ringgit [5] - The treasury will stabilize gas fees for RMJDT transactions and support up to 10% of validator nodes within the national blockchain infrastructure [5] - The strategy draws inspiration from successful corporate treasury models, highlighting the willingness of well-capitalized players to engage in significant investments despite market uncertainties [6] Group 3: Market Context - The launch of RMJDT occurs during a period of declining prices for Zetrix, which trades around $12.60, down from a peak above $20 a year ago [7] - Malaysia is experiencing a broader regional shift with multiple digital-asset treasury announcements, indicating a proactive approach to digital asset integration despite global inflow slowdowns [8]

Market Overview - The US stock market is experiencing a mixed performance with the Dow up approximately 140 points, the S&P 500 up about 0.15%, and the NASDAQ down about 0.1% as investors await the Federal Reserve's decision on interest rates [3][118]. - The 10-year Treasury yield is at 4.15%, showing some volatility in the bond market, with expectations of a rate cut from the Fed [4][6]. Warner Brothers Discovery and Media Industry - Paramount has launched a $108 billion hostile takeover bid for Warner Brothers Discovery, requiring significant financing from banks, billionaires, and sovereign wealth funds [9][10]. - The regulatory approval process for such large deals is expected to be lengthy, with potential antitrust and national security reviews [13][14]. - The competition between Paramount and Netflix for Warner Brothers Discovery is intensifying, with Netflix also making a $72 billion bid [28][41]. Consumer Spending and Economic Conditions - Consumer spending is under pressure due to rising prices, with nearly half of Americans reporting difficulties affording groceries compared to the previous year [67][70]. - The food price inflation is projected to accelerate into 2026, driven by tariffs and increased costs in packaging, transportation, and energy [71][75]. Apparel Industry Insights - Lululemon is expected to report struggles due to competition and strategic missteps, with analysts predicting a difficult holiday season for the brand [100][106]. - Nike, on the other hand, is seen as making progress in its recovery efforts after leadership changes, with a focus on improving product offerings and distribution strategies [110][113]. Private Equity and Investment Trends - The private equity industry has seen significant exits totaling $470 billion in 2025, a 40% increase year-over-year, indicating a strong market despite high fees associated with these investments [54][55]. - Apollo Global Management is highlighted as a key player in the private equity space, with a focus on retirement and annuity markets [53].

Core Insights - Exodus Movement, Inc. has announced an agreement to acquire W3C, utilizing its treasury to facilitate strategic acquisitions [2] - As of November 30, 2025, Exodus holds 1,902 BTC, 2,802 ETH, and 31,050 SOL in its corporate treasury, reflecting changes in asset holdings compared to the previous month [1] - Monthly Active Users (MAUs) decreased to 1.5 million in November 2025 from 1.6 million in October 2025 [3] - The processed volume through Exodus' exchange provider was $549 million in November 2025, down from $683 million in October 2025 [4] Digital Asset Holdings - Bitcoin (BTC) holdings decreased from 2,147 BTC in October 2025 to 1,902 BTC in November 2025, with 1,116 BTC pledged as collateral [1] - Ethereum (ETH) holdings increased slightly from 2,784 ETH in October 2025 to 2,802 ETH in November 2025 [1] - Solana (SOL) holdings saw a significant decrease from 49,567 SOL in October 2025 to 31,050 SOL in November 2025 [1] User Metrics - The number of Monthly Active Users (MAUs) fell to 1.5 million as of November 30, 2025, compared to 1.6 million in the previous month [3] Exchange Volume - The total processed volume through Exodus' exchange provider was $549 million in November 2025, a decrease from $683 million in October 2025 [4] - Of the November volume, $200 million (36%) came from XO Swap partners, compared to $251 million (37%) in October 2025 [4]

Bitwise’s crypto fund has just become the second crypto index to begin trading, letting individual traders and institutions access to multiple cryptocurrencies in a single investment vehicle. . The Bitwise 10 Crypto Index Fund (BITW), a $1.25 billion vehicle tracking the 10 largest digital assets, received the U.S. Securities and Exchange Commission (SEC)’s approval to begin trading Tuesday on NYSE Arca as an exchange-traded product (ETP). It is the second U.S.-listed multi-asset crypto index fund to be ...

Core Viewpoint - The company, co-founded by Tether and Jack Mowers, aims to build a business that focuses on Bitcoin products while generating cash flow, distinguishing itself from traditional treasury companies and crypto exchanges like Coinbase [1][2][3]. Business Model - The company is not merely a treasury firm; it is focused on creating an operating company that offers Bitcoin products with the intent of generating cash flow [2][3]. - The business model seeks to combine elements of brokerage and exchange services specifically for Bitcoin, differentiating itself from broader crypto platforms [6][10]. Market Opportunities - There are significant opportunities in brokerage, exchange, credit, and lending within the Bitcoin space, which the company plans to capitalize on [5][7]. - The company aims to build credit markets and lending products on top of Bitcoin, recognizing it as a $2 trillion asset that requires financial infrastructure [7]. Strategic Partnerships - The company sees value in partnerships with established entities like Tether and Soft Bank, leveraging their credibility and resources to enhance its market position [8]. Investment Proposition - The company positions itself as a unique investment opportunity, emphasizing that it is not just a treasury asset but a business with substantial cash flow potential [10]. - It claims to hold over four times the amount of Bitcoin compared to Coinbase, reinforcing its commitment to acquiring Bitcoin as a core asset [10]. Market Perspective - The leadership views Bitcoin as a long-term opportunity amidst currency debasement and inflationary pressures, indicating a willingness to endure volatility for potential gains [12].