Core Viewpoint - SOLOWIN HOLDINGS (NASDAQ: AXG) has announced a strategic partnership with Quantum and Time Group (QTG) to focus on the tokenization of revenue rights from QTG's new energy projects in Malaysia, aiming to integrate green assets with digital finance and support the energy transition in the ASEAN region [1][2][4] Company Overview - SOLOWIN HOLDINGS is a financial technology firm specializing in bridging traditional and digital assets, with a focus on digital currency payments and asset tokenization [8] - The company operates through its subsidiary AlloyX, which is involved in the partnership with QTG [1][8] Partnership Details - The collaboration will leverage Malaysia's regulatory framework for asset tokenization to develop a benchmark project that combines green assets with digital finance [2][4] - QTG's strengths include ownership of tangible assets and stable cash flows from its solar and green power projects, which align with Malaysia's goal of achieving 70% renewable energy generation by 2050 [3][4] Market Context - The partnership coincides with a critical phase in Malaysia's real-world asset market, driven by regulatory clarity and compliance priorities [4] - The initiative aims to transform sustainable green energy assets into transparent digital financial products, providing liquidity and regulatory compliance for global investors [4] Strategic Goals - The collaboration seeks to attract long-term, sustainable capital to support the energy transition and development of a low-carbon economy in the ASEAN region [5] - AXG aims to establish a benchmark for collaboration between Chinese and Malaysian enterprises in green finance and the digital economy [5]

Group 1 - BitGo is going public with an IPO that priced above the expected range [1] - The valuation of BitGo is set at $2.1 billion [1]

Group 1 - Galaxy Digital (NASDAQ:GLXY) is experiencing significant price movements, with Jim Cramer advising to sell the stock despite its recent gains in the crypto market [1] - The company provides a platform for digital asset trading, staking, and asset management services, and operates data center infrastructure [2] - Galaxy Digital is led by Mike Novogratz, who is noted for his articulate communication and background with Goldman Sachs and Fortress Investment Group [2] Group 2 - There is a belief that certain AI stocks present greater upside potential and carry less downside risk compared to Galaxy Digital [3]

Core Viewpoint - Bullish, an institutionally focused global digital asset platform, is set to release its financial results for Q4 2025 on February 5, 2026, and will host an earnings conference call the same day at 8:30 a.m. Eastern Time [1]. Company Overview - Bullish operates as a global digital asset platform providing regulated market infrastructure and information services, including a digital assets spot and derivatives exchange [3]. - The platform integrates a high-performance central limit order book matching engine with automated market making to ensure deep and predictable liquidity [3]. - Bullish Europe is regulated under MiCAR, offering spot trading and custody services for digital assets [3]. Related Services - Bullish is the parent company of CoinDesk, which provides digital asset media and information services [4]. - CoinDesk's offerings include CoinDesk Indices, a collection of tradable benchmarks and indices for digital assets, CoinDesk Data, which provides real-time market data and analytics, and CoinDesk Insights, a media platform covering news and insights about digital assets [4]. Investor Information - A live webcast of the earnings conference call will be available on the Bullish Investor Relations website, with a replay accessible afterward [2]. - The company utilizes its Investor Relations website and social media to disseminate material information relevant to investors [6].

Core Insights - Galaxy Digital Holdings Ltd. experienced significant volatility in 2025, with shares dropping below $9 in April and rising to nearly $43 before retreating due to investor concerns about dilution from a $1 billion exchangeable notes offering [3] - The company's legacy digital asset business continues to thrive, distinguishing it from competitors who are pivoting away from cryptocurrency [5][7] Financial Performance - In Q3 2025, Galaxy Digital reported a net income of $505 million, marking a 1,500% increase sequentially, driven by its Global Markets business [5] - Digital asset trading volumes surged by 140% year-over-year, reaching all-time highs, while the average loan book size expanded to $1.8 billion [5] - The Asset Management & Infrastructure Solutions business saw over $2 billion in net inflows, ending the quarter with nearly $9 billion in assets under management [6] Strategic Positioning - Galaxy Digital's decision to maintain its digital asset operations while also expanding into data center and AI business could provide recurring revenue and reduce reliance on cryptocurrency trading [7] - The company is capitalizing on data center demand, leveraging its infrastructure to enhance its business model [4]

Group 1 - Meld has completed a $7 million financing round led by Lightspeed Faction, with participation from F-Prime, Yolo Investments, and Scytale Digital, bringing the total funding to $15 million [1] - The company is building a global stablecoin network, collaborating with over 50 providers to cover more than 180 countries and over 150 fiat currencies, supporting digital asset trading and settlement for businesses and individuals [1]

Core Viewpoint - WonderFi Technologies Inc. has entered into an amending agreement with Robinhood Markets, Inc. to extend the completion date for the proposed acquisition of WonderFi's common shares to June 1, 2026, allowing more time for integration and regulatory approval [1][2]. Group 1: Transaction Details - The amendment to the arrangement agreement allows for additional time to complete integration enhancements and obtain necessary regulatory approvals [2]. - The anticipated closing of the transaction is expected in the first half of 2026, contingent upon satisfying the remaining conditions outlined in the arrangement agreement [4]. Group 2: Company Overview - WonderFi is a leader in both centralized and decentralized financial services, managing over $2.2 billion in client assets under custody [5]. - The company has a proven track record of launching new products and holds market-leading brands such as Bitbuy, Coinsquare, and Bitcoin.ca, positioning itself to capture market share in the digital asset space [6].

Core Insights - Antalpha has partnered with Malca-Amit to create a seamless exchange service for Tether Gold (XAU₮) and physical gold in Hong Kong, highlighting gold's role as a stable asset amid global economic volatility [1][9] - The market capitalization of XAU₮ has increased significantly from approximately $800 million to $2.2 billion in five months, indicating a shift towards digital gold ownership [2] - Antalpha aims to enhance the security of XAU₮ through collaboration with Malca-Amit, leveraging LBMA standards and establishing a gold reserve mechanism for better risk management [3][4] Security and Infrastructure - Malca-Amit, as a full LBMA member, holds ISO certifications for quality and information security, ensuring high standards for the custody of physical assets [4] - Antalpha is developing a "physical-digital" ecosystem by deploying vault nodes in major financial centers, linking custodians and trading platforms to facilitate asset exchange [7] - The partnership aims to reduce the settlement cycle for gold exchanges to T+1 business days, improving efficiency for clients [8] Market Strategy - Antalpha's strategy focuses on creating a resilient infrastructure for gold trading, positioning XAU₮ as a key asset similar to Bitcoin, due to its historical value retention [5] - The company is enhancing the XAU₮ ecosystem by improving market-making networks and providing innovative lending solutions to increase liquidity [6] - Starting December 12, Antalpha will offer bulk exchange services for institutional clients, allowing for physical delivery of gold in Hong Kong [9][10]

HashKey Holdings Limited （於開曼群島註冊成立的有限公司） 股份代號 : 3887 全球發售 聯席保薦人、整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 重要提示 重要提示：閣下如對本招股章程的任何內容有任何疑問，應尋求獨立專業意見。 HashKey Holdings Limited （於開曼群島註冊成立的有限公司） 全球發售 | 全球發售項下的發售股份數目 | ： | 240,570,000股發售股份（視乎發售量調 | | --- | --- | --- | | | | 整權及超額配股權行使與否而定） | | 香港發售股份數目 | ： | 24,057,200股發售股份（可予重新分配及 | | | | 視乎發售量調整權行使與否而定） | | 國際發售股份數目 | ： | 216,512,800股發售股份（可予重新分配 | | | | 及視乎發售量調整權及超額配股權行 | | | | 使與否而定） | | 最高發售價 | ： | 每股發售股份6.95港元，另加1%經 | | | | 紀佣金、0.0027%證監會交易徵費、 | | | | 0.00565%聯交所交易費及0.0 ...

Core Insights - Bullish, an institutionally focused global digital asset platform, released its monthly metrics for November 2025, highlighting trading volume, average trading spread, and volatility for Bitcoin and Ethereum [1][2]. Trading Volume - Total trading volume for November 2025 was $80.8 billion, with spot trading contributing $75.3 billion and perpetual trading $2.7 billion [5]. - Bitcoin spot trading volume was $38.4 billion, while Ethereum spot trading volume was $14.1 billion [5]. - The trading volume for stablecoins was $18.4 billion, and other assets accounted for $4.4 billion [5]. Average Trading Spread - The average trading spread for spot trading in November was 1.94 basis points, while for perpetual trading, it was -0.13 basis points [5]. - The average trading spread for options was 1.34 basis points [5]. Monthly Average Volatility - The monthly average volatility for Bitcoin in November was 45%, while for Ethereum, it was 68% [5].