Core Insights - BlackRock reported its Q4 and full-year 2025 earnings, highlighting strategic job cuts and record Asset Under Management (AUM) [1] - The firm laid off over 250 employees, representing 1% of its global workforce, as part of its strategy to focus on alternative investments [2] - BlackRock's stock price increased by 8% year-to-date, despite a downgrade from TD Cowen, which lowered the price target from $1,407 to $1,209 [2][3] Financial Performance - BlackRock increased its quarterly dividend by 10% to $5.73 per share, while the full-year diluted EPS decreased by 16% to $35.31 due to acquisition-related expenses and noncash charitable contributions [6] Strategic Moves - The firm completed the acquisition of HPS Investment Partners for $12 billion, fully paid in BlackRock equity, and is creating Private Financing Solutions (PFS) to integrate its private credit and CLO businesses [3][4] - CEO Laurence D. Fink anticipates a more rewarding and diversified 2026, emphasizing the firm's diverse offerings including private markets and digital assets [5]

Stock futures were getting hit, but digital assets were higher—moving more like haven assets. ...

Coinbase signaled its platform is expanding beyond digital assets, with U.S. customers gaining access to traditional stock trading. https://t.co/r9RcWgGYyf ...

Core Viewpoint - The letter from Strategy to MSCI argues that excluding crypto-buying firms from indices could negatively impact national security and innovation in the digital asset space [1][2][3]. Group 1: MSCI's Proposal and Its Implications - Strategy contends that MSCI's proposal to exclude companies with over 50% digital assets is misguided and could have harmful consequences for innovation and economic development [2][3]. - The letter emphasizes that crypto-buying firms are legitimate companies, not ineligible investment funds, and criticizes the 50% threshold as arbitrary and discriminatory [2][3]. - JPMorgan has warned that if MSCI proceeds with its proposal, outflows from Strategy could reach $2.8 billion, indicating significant financial implications for the firm [2]. Group 2: National Security Concerns - The letter raises national security concerns, highlighting that the Trump administration has supported pro-innovation policies and digital assets, making it an inappropriate time to undermine this technology [3]. - Strategy warns that MSCI risks losing its perceived neutrality as an index provider if it discriminates against digital assets in its index criteria [4]. Group 3: Market Performance - Strategy's stock price was reported at over $184, down more than 2% on the day, and has seen a nearly 53% decline over the past six months as interest in crypto-buying firms wanes [5].

Key insight: Comptroller of the Currency Jonathan Gould says national trust banks have always been allowed to perform certain non-fiduciary functions and that custodying digital assets is no different.Supporting data: New bank applications fell from over 100 per year in the 1990s to about four annually in recent decades.Forward look: Gould says the OCC will continue individual reviews of digital asset firms' applications despite growing pushback from community banks.Comptroller of the Currency Jonathan Goul ...

Core Insights - Standard Chartered has become the first major bank to enable spot trading of cryptocurrencies, indicating a significant shift in the financial landscape [1] - The bank is exploring the use of stablecoins and digital assets for local and global payments, recognizing their potential to transform the payment system [2][3] - There is a growing belief that digital asset wallets will gain traction, leading to a shift from conventional payment methods to stablecoin-based systems [4] Industry Trends - Regulators are preparing for a new wave of technology, with stablecoins primarily used in cryptocurrency trading and as a store of value for those lacking trust in national currencies [3][6] - The market capitalization of cryptocurrencies and digital assets remains low, with stablecoins currently experiencing daily flows of $20 billion, which is less than 1% of global payment system flows [6][7] - The potential for stablecoins to be issued by mainstream banks is being considered, with Standard Chartered already issuing Hong Kong dollar stablecoins and exploring tokenized bank deposits [4][7] Regulatory Considerations - The focus of regulators is on ensuring that stablecoins are backed by appropriate reserves to trade like cash, which is crucial for their acceptance and use [8]

Partnerships & Integrations - CoinGate Gift Cards welcomes Bitget Wallet as a new payment method [1] - The collaboration aims to promote financial freedom by making digital assets more practical for everyday use [1] Industry Focus - The partnership focuses on making it easier for users to use digital assets in daily life [1]

Executive Team Announcement - ProCap BTC 宣布了三位高管团队成员，他们将在 ProCap Financial 完成业务合并后任职 [1] - Jeff Park 被任命为首席投资官，此前曾担任 Bitwise Asset Management 的 Alpha Strategies 主管 [1] - Megan Pacchia 被任命为首席运营官，曾在 McKinsey & Company 工作 14 年，担任合伙人 [1] - Kyle Wood 被任命为首席法律官，此前曾担任 Perkins Coie, LLP 的合伙人，并担任多家公司总法律顾问 [1] Strategic Importance - Vinod Khosla 曾说过“你建立的团队就是你建立的公司”，强调了团队建设的重要性 [2] - ProCap 对 Jeff, Megan, 和 Kyle 的加入感到兴奋 [2] Individual Experience - Jeff Park 曾是 Corbin Capital Partners 的合伙人，负责领导该公司的数字资产投资工作 [1] - Megan Pacchia 曾在 Morgan Stanley 的首席投资办公室和股票资本市场部门任职，也是 PubKey 的联合创始人 [1] - Kyle Wood 在数字资产和人工智能等新兴技术方面提供咨询 [1]

Core Insights - Shares in crypto treasurers have experienced significant growth this year as investors seek greater exposure to digital assets [1] Group 1 - The surge in shares indicates a growing interest in the cryptocurrency market among investors [1]

"We're seeing sustained demand from institutional investors for yield-generating digital assets backed by real network activity."- @0xAishwary, global head of payments, exchanges and real-world assets at Polygon Labscrypto.news (@cryptodotnews):LATEST: $POL | @0xPolygon partners with @cypher_capital to expand institutional access to $POL in the Middle East.Long-term capital will be injected into the ecosystem, for exposure to $POL for institutional investors. https://t.co/UUeO05Swbb ...