Core Viewpoint - DeFi Technologies Inc. intends to initiate a Normal Course Issuer Bid (NCIB) to repurchase its common shares, believing that the current market price does not reflect the underlying value of the company [1][2]. Group 1: NCIB Details - The NCIB will commence on August 26, 2025, and run through August 26, 2026, or until completed earlier [3]. - The company may purchase up to 10% of the public float, which amounts to 31,673,791 common shares, and all purchased shares will be canceled [4]. - Daily purchases under the NCIB cannot exceed 25% of the average daily trading volume on Nasdaq and Cboe Canada from February 18, 2025, to August 18, 2025 [4]. Group 2: Financial Position - The current cash balance of the company is approximately US$19.8 million, which management considers sufficient for the share repurchase [2]. Group 3: Company Overview - DeFi Technologies is a financial technology company that connects traditional capital markets with decentralized finance (DeFi) [5]. - The company operates as the first Nasdaq-listed digital asset manager, providing diversified exposure to the decentralized economy through various subsidiaries [5]. - Key subsidiaries include Valour, which offers access to digital assets via regulated ETPs, and Stillman Digital, a digital asset prime brokerage [6][7].

Core Insights - DeFi Technologies' subsidiary Valour Inc. has successfully listed two staking ETPs on the SIX Swiss Exchange, marking its entry into the Swiss market [1][2][6] - The listed products include 1Valour Hedera (HBAR) Physical Staking and 1Valour Internet Computer (ICP) Physical Staking, which provide investors with exposure to digital assets while integrating staking rewards [2][4][5] - Valour aims to expand its offerings to 100 ETPs by the end of 2025, currently having over 75 ETPs across various European exchanges [6] Company Overview - DeFi Technologies is a financial technology company that connects traditional capital markets with decentralized finance, offering diversified exposure to digital assets through regulated ETPs [1][7] - Valour, as part of DeFi Technologies, focuses on providing retail and institutional investors with simple and secure access to digital assets via traditional bank accounts [8] Product Details - The 1Valour Hedera (HBAR) Physical Staking ETP is backed by HBAR, the native token of the Hedera network, and includes staking rewards reflected in its net asset value [4] - The 1Valour Internet Computer (ICP) Physical Staking ETP offers passive exposure to ICP while integrating native staking yield into its structure [5] Market Position - Valour's debut on the SIX Swiss Exchange highlights the strong demand for transparent, yield-generating digital asset products from both institutional and retail investors [3] - The company emphasizes the importance of compliance and simplicity in accessing digital asset yields without the need for investors to manage wallets or custody [3]

Core Insights - BNB Network Company (BNC) has achieved a significant milestone by increasing its total BNB holdings to 325,000 tokens, up from an initial purchase of 200,000 tokens, making it the largest BNB treasury globally [1][2][3] Strategic Positioning - The expansion of BNC's BNB holdings reflects a strong belief in the long-term growth and adoption of the BNB ecosystem, enhancing its balance sheet and commitment to supporting the BNB Chain [2][3] - BNC's position as the largest dedicated BNB treasury provides unique exposure to a resilient and widely adopted blockchain ecosystem, attracting interest from institutional partners and investors [3] Future Outlook - BNC aims to build a trusted and strategically positioned digital asset treasury, with plans for further scaling its holdings and introducing innovative structures to create lasting value for shareholders and the broader market [4] Company Overview - BNC is a publicly traded company focused on managing the world's largest corporate treasury of Binance Coin (BNB), offering institutional-grade exposure to BNB for investors [5]

Core Viewpoint - DeFi Technologies Inc. is launching the DeFi Technologies Insights Symposium to facilitate discussions on the convergence of decentralized finance (DeFi) and traditional finance (TradFi) [1][2][4] Group 1: Symposium Overview - The DeFi Technologies Insights Symposium is a global initiative aimed at fostering high-level discussions about the future of finance, with the inaugural session scheduled for September 25, 2025, in Frankfurt, Germany [1][2] - The symposium will gather institutional investors, regulators, technologists, and thought leaders to explore the integration of DeFi and TradFi across various markets and regulatory frameworks [2][4] - Future sessions of the symposium are planned in major financial centers including Abu Dhabi, Hong Kong, São Paulo, London, New York, and Zurich, focusing on regional dynamics while maintaining a global perspective [5] Group 2: Audience and Content - The inaugural session will feature a curated, invite-only audience of institutional stakeholders such as sovereign wealth funds, central banks, and asset managers [6] - Attendees can expect keynotes, private roundtables, and strategic panels covering topics like regulatory pathways for DeFi integration, institutional access to on-chain yield, and the implications of quantum computing on digital asset infrastructure [7][6] Group 3: Company Mission and Ecosystem - DeFi Technologies aims to bridge traditional capital markets with the emerging digital asset economy, positioning itself as a key platform in the transition towards a more integrated financial landscape [4][9] - The symposium is part of the company's broader strategic initiative to align its ecosystem with the evolving demands of institutional capital and public market participants [9]

Core Insights - Digital asset Exchange Traded Products (ETPs) have reached a record-breaking $200 billion in assets under management (AUM) as of July, driven by strong market performance and increasing institutional demand [1][2] Market Performance - The strong performance of major digital assets, including Bitcoin reaching its all-time high and Ethereum trading near its peak, has significantly contributed to the increase in AUM [2] - Ethereum ETPs saw a remarkable 87% surge in AUM in July, with Ethereum's price increasing by 48% during the month and over 25% in the first weeks of August, leading to a price doubling over six weeks [3][4] Institutional Interest - There has been a notable rise in interest from institutional investors, particularly in digital asset treasury strategies, with Ethereum and Bitcoin being key focuses [4] - Since early 2023, AUM for crypto ETPs has increased tenfold, indicating a rapid maturation of the market, with a fourfold increase in AUM and a 50% rise in the number of products listed worldwide following the approval of Bitcoin and Ethereum ETFs [6] Investor Behavior - The decline in Bitcoin dominance by about 8% in the last four weeks suggests a shift in investor risk appetite, typical during "alt seasons" where altcoins outperform Bitcoin [5] - Altcoin-linked ETPs have outperformed basket products, reflecting changing dynamics in investor preferences [5] Regulatory Environment - Improving regulatory clarity is expected to lead to the introduction of new digital asset ETP products, particularly in the US, where Bitcoin and Ethereum spot products have recently been approved [7] - In Europe, the focus is shifting towards diversifying yield sources and optimizing yield, with expectations for a new wave of yield optimization products [8]

Financial Data and Key Metrics Changes - In Q2 2025, total revenues were $300,000, a decrease from $800,000 in Q2 2024, primarily due to lower charger hardware sales [16] - Year-to-date revenues through June 30, 2025, were $1,200,000 compared to $1,600,000 for the same period last year [16] - Margins on products, services, and grant revenues improved to 60.6% in Q2 2025 from 24.9% in Q2 2024, driven by a higher mix of service revenues [17] - Net loss attributable to common stockholders increased to $13,400,000 in 2025 from $4,200,000 in 2024, largely due to one-time expenses [21] - Cash as of June 30, 2025, was approximately $1,800,000, an increase of $600,000 from March 31, 2024 [22] Business Line Data and Key Metrics Changes - Hardware revenue was low due to the transition to new charging station models, with expectations to return to normal in Q3 [13] - The company decommissioned 4.4 megawatts of stationary batteries in Japan and 2.5 megawatts in California, leading to a 19.5% decrease in megawatts under management to 25.6 megawatts [23][24] - The acquisition of Thermador Energy LLC is expected to enhance efficiencies and services by year-end [11] Market Data and Key Metrics Changes - The company is focusing on expanding its energy business in Japan and Europe, with Nuvi Japan receiving its first private investment [8] - The New Mexico contract represents a potential opportunity exceeding $400,000,000 in capital expenditures over the next four years [9] Company Strategy and Development Direction - The company is strategically positioned at the intersection of energy, artificial intelligence, and cryptocurrency, aiming to capitalize on opportunities in these sectors [27] - The restructuring of the energy business and integration of recent acquisitions are key focuses for future growth [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about leading the energy management transition globally and capitalizing on opportunities in the cryptocurrency and blockchain economy [27] - The company is actively pursuing battery aggregation services in Japan to enhance disaster preparedness and resilience [24] Other Important Information - The company raised $6,900,000 in gross proceeds through debt and equity to support growth initiatives [15] - A $300,000,000 shelf registration was filed to support the digital asset strategy [15] Q&A Session Summary Question: Are there any questions from the participants? - There were no questions during the call [29]

Core Insights - DeFi Technologies Inc. reported strong financial performance for Q2 2025, with adjusted revenues of US$32.1 million, adjusted EBITDA of US$21.6 million, and adjusted net income of US$17.4 million, indicating robust operational performance and sustained revenue growth [6][8][11] Financial Highlights - As of June 30, 2025, the total value of cash and digital asset treasury was US$52.4 million, with a consolidated cash balance of approximately US$26.4 million [3][6] - Valour's assets under management (AUM) reached approximately US$772.8 million as of June 30, 2025, increasing to US$947 million by July 31, 2025, reflecting a 23% month-over-month increase [4][6] - The company achieved positive net inflows of US$25 million for the quarter and a total of US$77.4 million for the first half of 2025 [4][6] Strategic and Business Developments - Leadership changes included the appointment of Andrew Forson as President and Chief Growth Officer, and Dr. Manfred Knof as Chairman of Valour, aimed at accelerating global growth and strengthening institutional relationships [5][6] - The company raised its 2025 revenue guidance to approximately US$218.6 million, driven by strong performance in its asset management business and favorable market conditions [6][11] Revenue and Profitability - Adjusted revenues increased from US$25.3 million in Q2 2024 to US$32.1 million in Q2 2025, attributed to staking income, management fees, and a significant arbitrage trade [6][11] - Adjusted net income improved from a loss of US$6.1 million in Q2 2024 to a profit of US$17.4 million in Q2 2025 [6][11] Institutional Investor Engagement - Since early July 2025, the company added 78 institutional shareholders, bringing the total to 84, collectively holding over 31 million shares [10][11] Product and Market Expansion - Valour launched 14 new ETPs during the quarter, expanding its Nordic presence and aiming for a total of 100 ETPs by year-end [12][15] - The company is expanding into African capital markets with the Kenya Digital Exchange and into Türkiye with regulated ETPs, targeting high-growth regions [12][16] Performance of Subsidiaries - Stillman Digital generated US$6.1 million in revenue since its acquisition, focusing on expanding business development and enhancing trading capabilities [20][21] - Neuronomics AG advanced its AI-powered trading strategy and secured a validator node in the Canton Network, enhancing its market position [33][37] Research and Advisory Developments - Reflexivity Research expanded its distribution channels and updated its product offerings, aiming to enhance scalability and reach [40][41]

Core Insights - DeFi Technologies Inc. reported strong financial performance for Q2 2025, with significant growth in revenue, adjusted EBITDA, and net income, reflecting robust operational performance and investor demand [6][8][11] Financial Highlights - The total value of cash and digital asset treasury stood at US$52.4 million as of June 30, 2025, with a diversified mix to manage volatility and capitalize on market opportunities [3] - Adjusted revenue for Q2 2025 was US$32.1 million, up from US$25.3 million in Q2 2024, driven by staking income, management fees, and a significant arbitrage trade [6][11] - Adjusted EBITDA reached US$21.6 million, compared to a negative US$2.5 million in Q2 2024, indicating strong profitability from core operations [6][11] - Adjusted net income was US$17.4 million, a significant improvement from a loss of US$6.1 million in Q2 2024 [6][11] AUM & Net Inflows - Valour's assets under management (AUM) were approximately US$772.8 million as of June 30, 2025, increasing to US$947 million by July 31, 2025, reflecting a 23% month-over-month growth [4][6] - Positive net inflows of US$25 million were recorded for the three months ended June 30, 2025, with total inflows of US$77.4 million for the first half of 2025 [4][6] Strategic and Business Developments - Leadership changes included the appointment of Andrew Forson as President and Chief Growth Officer, and Dr. Manfred Knof as Chairman of Valour, enhancing institutional relationships [5] - The company raised its 2025 revenue guidance to approximately US$218.6 million, driven by strong performance in asset management and favorable market conditions [6][11] - DeFi Technologies has added 78 institutional shareholders since early July, bringing the total to 84, collectively holding over 31 million shares [10] Product and Market Expansion - Valour launched 14 new ETPs during the quarter, expanding its Nordic presence and aiming for 100 total listings by year-end [12][15] - The company is expanding into African capital markets with the Kenya Digital Exchange (KDX) and entering the Turkish market with regulated ETPs [12][16] - Stillman Digital is enhancing its institutional trading capabilities through strategic hires and partnerships, focusing on foreign exchange and stablecoin services [21][22] Performance of Subsidiaries - Stillman Digital generated US$6.1 million in revenue since its acquisition, with a focus on expanding its global reach and trading capabilities [20][21] - Neuronomics AG advanced its AI-powered trading strategy, SmartCrypto, and secured a validator node in the Canton Network, enhancing its market position [36][37] - Reflexivity Research expanded its distribution channels and updated its product offerings to better align with market demand [40][41]

Core Insights - Virtune achieved its most successful half-year financial results with an adjusted EBITDA margin of 20% despite market turbulence [1] - The company reported a net revenue growth of 458% compared to the previous period [6] Financial Performance - Adjusted EBITDA amounted to 6,037 KSEK, a significant improvement from -8,290 KSEK [2] - Net revenue reached 30,178 KSEK, up from 5,408 KSEK [6] - Operating profit before depreciation (EBITDA) was 5,320 KSEK, compared to -8,290 KSEK previously [6] - Operating profit (EBIT) stood at 5,088 KSEK, improving from -8,522 KSEK [6] - Net profit for the period was 4,668 KSEK, a recovery from -9,118 KSEK [6] - Earnings per share before dilution were SEK 0.73, up from -1.52 SEK, and after dilution were SEK 0.66, also an improvement from -1.52 SEK [6] - Cash flow from operating activities was 3,358 KSEK, compared to -11,980 KSEK previously [6] Assets and Inflows - Assets under management (AUM) at the end of the period amounted to 3,140,823 KSEK, a significant increase from 809,082 KSEK [6] - The net inflow for the period was 1,389,609 KSEK, compared to 559,864 KSEK in the previous period [6] Strategic Outlook - The CEO emphasized the company's long-term preparation for market expansion, focusing on compliance, operational procedures, and automation to support sustained growth [3]

Core Insights - DeFi Technologies Inc. will hold a shareholder call on August 15, 2025, to discuss its Q2 2025 financial performance [1] - The call will occur after the release of the company's financial statements on August 14, 2025 [1] Company Overview - DeFi Technologies is a financial technology company that connects traditional capital markets with decentralized finance (DeFi) [2] - It is the first Nasdaq-listed digital asset manager, providing equity investors with diversified exposure to the decentralized economy through an integrated business model [2] - The company's subsidiaries include Valour, Stillman Digital, Reflexivity Research, Neuronomics, and DeFi Alpha, each focusing on different aspects of digital assets and financial technology [2][3][4][5] Subsidiary Highlights - **Valour**: Issues exchange-traded products (ETPs) that allow retail and institutional investors to access digital assets securely [3] - **Stillman Digital**: A digital asset liquidity provider offering trade execution and settlement solutions [4] - **Reflexivity Research**: Specializes in high-quality research reports for the bitcoin and digital asset industry [4] - **Neuronomics**: Focuses on AI-powered quantitative trading strategies to enhance performance in financial markets [5]