Wall Street seems convinced that prediction markets are here to stay, cementing the status of platforms like the crypto-based prediction market Polymarket as a dominant fintech player. In October, Bloomberg Markets surveyed 406 Wall Street pros and asked their views on popular prediction markets like Polymarket and Kalshi. Related: Google Finance to integrate Polymarket and Kalshi prediction data Launched in 2020, the New York City-headquartered Polymarket is the world’s largest prediction market. It let ...

RT Token Terminal 📊 (@tokenterminal)🆕🔎 New filtering options added to the Tokenized assets page.It's now possible to:1) filter by issuer: @circle2) group by asset & chain: $USDC, $EURC, and $USYC on multiple chainsAn overview of Circle's products across chains: https://t.co/26P55JwBb5 ...

Core Insights - Tokenized assets are anticipated to revolutionize the investment landscape similar to how ETFs transformed mutual funds, offering lower fees, enhanced transparency, and instant transactions, yet they remain largely underutilized outside affluent portfolios [2] - Currently, approximately $30 billion of real-world assets are tokenized on blockchain, a small fraction compared to the $250 trillion global securities market, indicating significant growth potential [2] - The adoption of tokens in wealth management is still in its infancy, with industry experts suggesting that future developments will improve access to traditionally hard-to-trade asset classes like real estate [3] Industry Challenges - There is a notable lack of regulatory clarity and potential security risks that hinder the widespread adoption of tokenized assets [2][6] - Custodians and asset managers are seeking clearer regulations regarding the classification and integration of tokenized assets into the existing financial system [6] - The International Organization of Securities Commissions has highlighted that tokenization may exacerbate existing risks in traditional financial products and introduce new risks associated with the crypto market [6] Advisory Services Evolution - The programmability of tokens may lead to a shift in advisory practices, with advisors focusing more on financial planning rather than direct investment management [5] - Advisors will need to reassess their value propositions as the market segmentation may evolve towards catering to more self-guided investors [5] - The fundamental principles of portfolio construction remain unchanged, emphasizing the importance of underlying investment strategies over the technology used [4]

Core Viewpoint - The financial world is on the verge of a major transformation, with predictions that nearly all global transactions will eventually settle on blockchain networks [1][3][8] Group 1: Digital Money and Blockchain - The next era of global finance will be defined by digital money and blockchain-based settlements, with a belief that all transactions will eventually settle on blockchains [3][4] - The transition to digital money will require years of experimentation and collaboration among governments, regulators, and the private sector, indicating a complete rewiring of the financial system [4][8] Group 2: Standard Chartered's Initiatives - Standard Chartered is actively embracing blockchain technology, operating digital asset custody services, trading platforms, and tokenization initiatives [4][5] - The bank is developing a Hong Kong dollar-backed stablecoin in partnership with Animoca Brands and HKT, viewing it as a key step toward building new digital payment infrastructure for international trade [6][8] Group 3: Hong Kong's Role in Digital Finance - Hong Kong is positioning itself as Asia's crypto and digital asset hub, with a licensing regime for exchanges and pilots in tokenization, an area where Standard Chartered is directly involved [5][6] - The leadership of Hong Kong is recognized for its role in pioneering regulation and innovation in digital finance [5] Group 4: Industry Perspectives on Tokenization - Major finance leaders, including Robinhood CEO Vlad Tenev and BlackRock CEO Larry Fink, are optimistic about tokenization, predicting it will reshape global investing and become mainstream within five years [7]

Core Insights - Ondo Finance has formed a strategic partnership with Chainlink to enhance its tokenization platform, which allows for the digital representation of real-world assets [1][5] - The partnership aims to facilitate the movement of assets and operations on-chain for institutional players using Ondo's tokenization infrastructure and Chainlink's Cross-Chain Interoperability Protocol (CCIP) [5][7] Tokenization and Market Presence - Tokenization involves using blockchain technology to create digital tokens representing real-world assets, enabling fractional ownership for investors [1] - Ondo Finance hosts a significant institutional ecosystem, integrating with over 100 applications and offering more than 100 tokenized stocks and ETFs, with a total value locked (TVL) exceeding $300 million [2][3] Chainlink's Role - Chainlink provides an oracle network that connects smart contracts with real-world data, ensuring reliable price feeds for each tokenized equity [2][4] - The partnership will leverage Chainlink's institutional-grade data infrastructure to deliver comprehensive valuations on-chain, capturing all economic factors such as dividends [3][4] Interoperability and Future Prospects - Chainlink's CCIP enables seamless communication between different blockchains, allowing smart contracts, applications, and tokens to move across multiple platforms [6] - The collaboration is expected to broaden access to on-chain capital markets for financial institutions, asset managers, and protocol developers [7]

Core Insights - Ethereum (ETH) has emerged as the leader in the cryptocurrency market's recovery during the third quarter, surpassing Bitcoin (BTC) as capital shifted towards altcoins, DeFi protocols, and tokenized assets [1][2] - The overall cryptocurrency market added over $500 billion in value, marking its second consecutive quarter of significant growth, with Ethereum and other large-cap tokens driving this momentum rather than Bitcoin [2] - By September, Bitcoin's momentum slowed while Ethereum experienced a surge, attributed to ETF demand, interest in tokenized real-world assets, and corporate treasury investments, leading to a new all-time high for ETH [3] Market Dynamics - Trading activity rebounded strongly after two quarters of decline, with spot volumes increasing across both centralized and decentralized exchanges, indicating a shift in where trading volume is directed [4] - Meme coins made a notable comeback, with tokens like M gaining popularity, while stablecoins such as USDe also gained traction, and lesser-known altcoins entered the top 30 by market capitalization [5] - DeFi protocols, which had seen reduced attention in late 2024, experienced a resurgence as total value locked in lending and staking protocols increased alongside Ethereum's rise [5] Investor Behavior - A shift in investor appetite is evident, with Bitcoin's market share declining, indicating a movement towards Ethereum and other emerging categories, particularly tokenized assets [6] - New on-chain stocks and bonds are gaining traction, with protocols like Ondo and Backed Finance appealing to investors seeking to connect traditional and decentralized finance [7] - Bitcoin's price movement has decoupled from the S&P 500 for the first time in over a year, suggesting that cryptocurrency is becoming a more independent asset class, although this also reflects a fragmentation of investor attention [8]

Core Insights - The Federal Reserve's rate-cut cycle presents both challenges and opportunities for Robinhood Markets, with lower interest rates impacting net interest revenues while rising retail trading activity and new revenue streams may provide offsets [1] Financial Performance - Robinhood reported a record $647 million in net interest revenue (NIR) for the first half of 2025, a 20% increase year over year, driven by high client cash balances and margin loans [2] - A 25-basis-point cut in rates could reduce quarterly revenue by approximately $40 million due to falling sweep yields and margin rates [2] - Approximately 59% of Robinhood's total revenues in the first half of 2025 came from transaction-based activities, which may counterbalance lost NIR as trading volumes in stocks, options, and crypto are expected to rise [3] Business Diversification - Robinhood's diversification strategy includes the Bitstamp acquisition, rollout of tokenized assets, and international expansion, which broadens its customer and revenue base [4] - Recurring subscription revenues from Robinhood Gold continue to scale, providing a more stable earnings stream [4] - The company's ability to balance trading, subscriptions, and global fintech services will be crucial in a lower-rate environment [5] Peer Comparison - Interactive Brokers and Charles Schwab are also expected to see reduced net interest income (NII) due to lower interest rates, with Interactive Brokers estimating a $73 million annual NII reduction for every 25-basis-point cut [6][7] - Schwab's NII accounts for over 50% of its total revenues, making it more sensitive to rate changes, although diversification into commission and advisory revenues may help mitigate impacts [7] Stock Performance and Valuation - Over the past year, Robinhood's shares have increased by 419.9%, significantly outperforming the industry average of 50.9% [8] - Currently, Robinhood's shares trade at a price-to-tangible book (P/TB) ratio of 14.77X, compared to the industry average of 3.06X, indicating a substantial premium [10] Earnings Estimates - The Zacks Consensus Estimate for Robinhood's earnings implies year-over-year growth of 47.7% for 2025 and 18.2% for 2026, with revised estimates of $1.61 and $1.90, respectively [11]

Business Model - Collector Crypt 将交易卡转化为具有内置流动性的代币化资产 [1] - Collector Crypt 通过 $CARDS 和 Gacha 驱动的商业模式，将实体卡片收集游戏化 [1]

New Investment Opportunity - Bitget Onchain officially supports limit orders for Ondo Finance tokenized assets [1] - 105 Real World Asset (RWA) tokens are available for investment [1] Trading Benefits - Zero gas fees when using USDC for trading [1]

Partnerships & Collaborations - SBI Group, a $200 billion financial giant in Japan, is partnering with Chainlink [1] Key Focus Areas - The collaboration aims to facilitate tokenized assets [1] - Cross-border payments are a key area of focus [1] - Stablecoin verification is another important aspect of the partnership [1]