Core Insights - Deribit, a crypto derivatives exchange acquired by Coinbase, is collaborating with Komainu to enable continuous trading for institutions without moving assets off custody [1][2] - The partnership integrates Deribit with Komainu Connect, allowing institutional clients to trade while keeping their funds within Komainu's regulated custody, addressing counterparty and settlement risks [2][4] - The crypto derivatives market is moving towards mainstream financial adoption, with expectations of increased institutional participation from Europe and the U.S. [3] Company Insights - Komainu, supported by Laser Digital and associated with Nomura, provides secure, bankruptcy-remote segregated wallets and accommodates various collateral types, including tokenized Treasury funds and staked ether [4] - The integration between Deribit and Komainu is aimed at fulfilling the growing demand for secure and compliant digital asset trading among institutions [4] - Deribit's chief commercial officer emphasized the importance of security and efficiency for clients, highlighting the benefits of the partnership with Komainu [5]

Core Insights - The crypto markets experienced significant volatility following the October 10 flash crash, but the overall ecosystem has not faced the same level of disaster as in previous instances [1] - Animoca Brands, a leading investment firm in Web3, is planning a U.S. IPO in 2025, marking a strategic shift from its previous focus on mobile gaming [2][3] Company Overview - Animoca Brands has a diverse portfolio that includes major firms like Axie Infinity, Polygon, Kraken, and The Sandbox, reflecting its strong position in the Web3 space [2] - The company transitioned from being publicly listed on the Australian Securities Exchange (ASX) to focusing on Web3, leading to its delisting in 2020 [2][3] IPO Plans - The company aims to relist in the U.S. as market conditions have become favorable, particularly due to a softening regulatory stance in the U.S. that influences global jurisdictions [3] - Animoca Brands has retained a base of retail and institutional investors from its previous public exposure, which is advantageous for its upcoming IPO [3] Market Conditions - The digital asset space is experiencing heightened interest, driven by a pro-crypto approach in the U.S. and increased institutional adoption [4][6] - Despite a significant market wipeout of approximately $19 billion, the crypto market's mature structure and risk management systems have helped it endure the recent flash crash [5][6] Investment Focus - Web3 gaming constitutes about 25% of Animoca's investment portfolio, highlighting its commitment to this rapidly growing segment [5] - The company is positioned as a leader in the altcoin space, capitalizing on the ongoing advancements in the digital asset industry [4]

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Europe’s landmark crypto regulations are proving resilient to pressure from the continent’s most powerful central bank, as the European Commission signaled on Oct. 10 it won’t impose additional restrictions on stablecoin companies despite urgent warnings from the European Central Bank about financial stability risks, according to Reuters. The decision represents a significant victory for major stablecoin i ...

Brian Brooks, chairman and CEO of the major commercial mortgage broker The Meridian Group, speaks to Scarlet Fu and Tim Stenovec on "Bloomberg Crypto". Brooks also serves on various boards, including Strategy, and is the former CEO of Binance.US and the former US Acting Comptroller of the Currency. They discuss the intersection of digital and hard assets, tokenization, digital treasury companies and bank charters connected to crypto companies. ...

Banks, asset managers, and crypto aren’t rivals - they’re partners in progress.Our President, @hfangca joins leaders from Circle, Northern Trust, Standard Chartered, and Franklin Templeton to discuss how collaboration is paving a new financial era. https://t.co/RNYeCbAdYo ...

Core Points - U.S. President Donald Trump has threatened to impose tariffs of up to 155% on Chinese goods starting November 1 unless a new trade agreement is reached [1][2] - The tariff threats are part of a broader strategy to counter China's dominance in global supply chains, highlighted by a critical minerals agreement with Australia [1][3] - The $8.5 billion deal with Australia includes joint investments in mining and processing rare earth materials, with both nations contributing $1 billion over the next six months [4] - The announcement of tariffs and export restrictions has led to significant sell-offs in global markets, particularly in equities and cryptocurrencies [4][6] Market Reactions - Following the tariff threats, over $329.29 million in crypto positions were liquidated within 24 hours, with Bitcoin and Ethereum experiencing significant losses [5] - The liquidation event saw over 1.66 million crypto traders affected, erasing $19.33 billion in leveraged positions, marking the highest liquidation in crypto history [6] - Financial markets reacted sharply to the combination of tariff threats and new export restrictions, raising fears of a broader economic slowdown [6]

Financial Data and Key Metrics Changes - Galaxy Digital reported a record GAAP net income of $505 million for Q3 2025, with an adjusted gross profit of $728 million, indicating strong performance across its diversified model [9][10] - The firm achieved a firm-wide adjusted EBITDA of $629 million, significantly up from $211 million in Q2 2025 [11] - Cash and stablecoins on the balance sheet increased to $1.9 billion, up approximately $700 million from Q2 2025 [12] Business Line Data and Key Metrics Changes - The digital asset segment generated a record adjusted gross profit of $318 million, driven by strong trading, investment banking, asset management, and staking activities [10][15] - Assets under management and assets under stake reached over $15 billion, nearly doubling from the previous quarter, with asset management growing to approximately $9 billion [17][18] - The lending book grew to over $1.8 billion, reflecting new clients and market appreciation [16] Market Data and Key Metrics Changes - Galaxy Digital's trading volumes increased by 140% from Q2 2025, with record crypto trading volumes achieved during the quarter [15] - The firm executed a significant transaction involving the sale of over $9 billion of Bitcoin on behalf of a single client, marking one of the largest notional Bitcoin transactions ever completed [15] Company Strategy and Development Direction - Galaxy Digital is focused on expanding its digital asset offerings and enhancing its data center capabilities, with the launch of Galaxy One aimed at individual investors [7][24] - The company is strategically positioning itself to capture a broader market by integrating traditional finance with blockchain infrastructure [22][76] - The Helios data center project is a cornerstone of Galaxy's infrastructure strategy, with plans for multi-tenant capabilities and significant power capacity [36][71] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the importance of building trust and relationships in the crypto community [4][5] - The company acknowledged the challenges posed by forced liquidations in the crypto ecosystem but noted that it performed well during this period [39][41] - Galaxy Digital is committed to disciplined risk management and maintaining sufficient capital and liquidity to support long-term growth [14] Other Important Information - The firm secured a $460 million PIPE deal from a large institutional investor, which will support the development of its data center [8][13] - Galaxy Digital's asset management business is now run rate profitable, providing a solid foundation for future growth [18] Q&A Session Summary Question: Impact of forced liquidations on market structure - Galaxy Digital performed well during the liquidation events, with no credit losses and quick responses from the trading desk [39] - Market makers and leveraged retail traders were significantly impacted, leading to reduced liquidity and wider bid-ask spreads [39][40] Question: Aspirations for Galaxy One - Galaxy One aims to serve high-net-worth consumers, providing a seamless platform for managing traditional and digital assets [42][44] - The target audience includes individuals with significant wealth who have historically been underserved by traditional platforms [46][47] Question: Update on data center approvals and demand - Approval timelines for additional capacity in Texas remain uncertain, but there is positive traction in demand from large customers [50][54] - The company is optimistic about securing additional interconnection capacity and has seen increasing proactive inquiries from potential clients [53][54] Question: Financing and refinancing opportunities - Galaxy Digital expects to unlock significant capital through refinancing once the Helios project stabilizes and generates revenue [56][58] - The refinancing could potentially unlock multi-hundreds of millions of dollars of equity for future developments [58] Question: Competitive positioning in the data center market - The company is focused on execution and delivering projects on time and on budget, which is critical for long-term customer demand [66][68] - Galaxy Digital is strategically positioned with existing land and infrastructure, differentiating itself from competitors [66][68]

RT Duncan (@FloodCapital)Good Morning $GLXY BullsMind boggling earning beat, $GLXY's best quarter ever +$505M in Net Income for Q3 (vs ~$31M in Q2).We are finally seeing Galaxy come alive on the crypto side of the business, they've spent the last 8 years building out crypto infrastructure with relatively fixed costs and are now seeing volumes explode and translate directly in profitability.Balance Sheet: $3.2B +21% QoQCrypto/Digital Asset Side:Global Markets (Q3 $295M in adj gross profit vs Q2 $55M)- Tradin ...

Coinbase said it acquired crypto investment platform Echo for about $375 million, expanding the digital-asset exchange’s footprint in private markets https://t.co/B6fdw0I4Pi ...

Exclusive: Coinbase has struck a roughly $375 million deal to acquire Echo, a platform that allows crypto companies to quickly raise capital directly on the blockchain https://t.co/YL6sqvGdmM ...