Canton Strategic Holdings Inc（CNTN）のニュースとイベントCNTNCanton Strategic Holdings Inc

Coinbase Q3 Trading Volume Market Share Reaches 10.7%, Barclays Lowers Price Target to $120

As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the "Crypto Currents" weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.EARNINGS:On Thursday, Coinbasereportedwhich compared to analyst estimates of 8c and $1.23B, respectively. The company's Crypto Trading Volume Market Share reached 10.7% in Q3, its fourth consecutive quarter of market share gains. Coinbase prediction markets surpassed $200M in annualized revenue, growing even through seasonally slower sports months. Daily traders grew over 60% quarter-over-quarter and paid Coinbase One subscribers reached an all-time high in Q3, up 24% year over year. The company also reported that transaction revenue Q4-to-date was $165M and it expects Q4 S&S revenue $550M-$630M and transaction expenses in the mid-teens as a percent of net revenue. Coinbase also guided to FY26 adjusted expenses of $4.15B-$4.3B."We continued to execute well on things in our control and compound gains. One of our major assets is that we are the most trusted player in crypto and store more crypto than any company in the world, so it was great that we returned to our peak Assets on Platform market share," said Brian Armstrong, CEO. "Prediction markets have been one of the fastest-growing products in Coinbase history, growing even through slower sports months driven by crypto contracts where we have a strong right to win."Following the report, Barclays lowered the firm's price target on Coinbase to $120 from $149 and kept an Underweight rating on the shares. The company's adjusted EBITDA beat consensus, driven by a transaction revenue beat and lower costs, but the revenue run rate into Q4 is trending lower, the analyst said. The firm added that Coinbase's costs are expected to come in higher than expected, resulting in a "sizeable downgrade" in Barclays' near-term EBITDA estimates.JPMorgan lowered the firm's price target on Coinbase to $187 from $189 and kept an Overweight rating on the shares post. The firm said the transaction environment continues to struggle. Prediction markets are growing for Coinbase, but it is hard to ascribe value, the analyst said.Wells Fargo lowered the firm's price target on Coinbase to $174 from $200 and kept an Equal Weight rating on the shares. Prediction markets and USDC cushioned a weak crypto backdrop, but the quarter did not signal a broader acceleration. With activity still soft and spending moving higher, Wells is taking transaction estimates down despite continued product progress.Meanwhile, Canaccord lowered the firm's price target on Coinbase to $275 from $300 and kept a Buy rating on the shares. The firm said they remain encouraged by Coinbase's execution as the business continues to broaden beyond crypto spot trading. Q3 revenue held roughly flat despite softer activity, while a leaner cost base supported a meaningful improvement in profitability.Additionally on Wednesday, Ripple and Coinbase announced a partnership to bring Ripple USD to Coinbase, significantly expanding market access and utility for the enterprise-grade stablecoin in the U.S. Retail and institutional clients can trade and manage RLUSD through Coinbase Prime, Coinbase Exchange and the Coinbase Retail app, with 1:1 conversion from U.S. dollars and other supported USD-denominated stablecoins into RLUSD.On Thursday, Strategyreportedwhich compared to analyst consensus of $22.89 and $129M, respectively. As of October 25, the company's digital assets were comprised of approximately 848,517 bitcoins, with an original cost basis and market value of $64.02B and $68.9B, respectively, which reflect an average cost per bitcoin of approximately $75,446 and a market price per bitcoin of approximately $81,200 as of October 23. "Strategy demonstrated its commitment to returning STRC to health. We grew our USD Assets to $5.1B, increased USD Duration to 3.4 years, and repurchased $2B of STRC. We also continued to innovate. With shareholder approval on October 28, we upgraded STRF, STRC, STRK, and STRD to daily dividends, so investors can accrue dividends every calendar day of the year, including weekends and holidays. Daily dividends are a natural step toward the tokenized, 24/7/365 financial system. Digital Credit is being built for that world, and Strategy intends to lead it," said Phong Le, CEO.The company also announced that Andrew Kang will be stepping down as CFO, effective November 5. Le will serve as the company's principal financial officer and assume responsibility for the finance organization during the transition, and effective January 1, Reza Virasteh, Strategy's current EVO of Operations, will become EVP and CFO, serving as co-principal financial officer alongside Le, who will retain responsibility for the financial management of the company's bitcoin strategy.Following the report, Clear Street lowered the firm's price target on Strategy to $209 from $211 and kept a Buy rating on the shares, citing a lower bitcoin price assumption for the firm's lowered target. Strategy has prioritized repairing its capital stack over adding bitcoin since June, but the firm believes "that work is largely complete," the analyst said.On Tuesday, Galaxy Digitalreportedwhich compared to analyst estimates of 20c and $12.16B, respectively. "Galaxy delivered a strong third quarter, reflecting the strength of our established Digital Assets franchise, significant appreciation across our investments portfolio, and the growing contribution from our Data Centers business. Our strategy is centered on two significant opportunities in the global economy: the modernization of financial markets through digital assets and the expansion of AI infrastructure. The progress we're making across both businesses is strengthening and diversifying our earnings profile, while positioning Galaxy to capitalize on substantial growth opportunities. We remain focused on disciplined execution and creating long-term value for our shareholders," stated CEO Mike Novogratz.Goldman Sachs lowered the firm's price target on Galaxy to $20.50 from $24 and kept a Neutral rating on the shares. The broad-based quarterly earnings beat reflects encouraging operating trends, although with puts and takes in the Data Center segment, in which the company appears incrementally constructive on being able to contract out its 830MW Helios Phase II data center to an IG-rated counterparty, the analyst said. The firm adjusted its price target as it employs a sum-of-the-parts valuation methodology and rolls forward its next 12-month target multiples by one quarter.H.C. Wainwright lowered the firm's price target on Galaxy to $36 from $40 and kept a Buy rating on the shares. The firm said Helios Phase II is fully funded and progressing on schedule, while Phase III financing and Helios II leasing are the next catalysts for the stock. H.C. Wainwright remains buyers of Galaxy, believing continued execution at Helios and improving digital asset sentiment should outweigh near term regulatory and credit market concerns.Galaxy also announced Thursday that its subsidiary, Galaxy Digital LP, has submitted an application to the Office of the Comptroller of the Currency to establish Galaxy National Bank, a proposed national trust bank headquartered in New York.BINANCE HIT BY $6.3B HACK:On Thursday, cryptocurrency exchange Binance reported that it had experienced a security incident. The company said, "Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer's laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified. The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3B frozen on-chain so far.  Binance will cover all losses from the SAFU fund and the company's funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete. As an immediate precaution, Binance has temporarily suspended withdrawals while security checks are completed; revoked the affected address authorisation; engaged law enforcement and blockchain intelligence partners to trace and recover funds. Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice."CIRCLE PRICE TARGET CUT:Mizuho lowered the firm's price target on Circle Internettoon the shares. The firm believes AI personal assistant engines pose a "marked risk" to Circle's medium-term revenue. Mizuho's simulation shows that agents like Muse are likely to recommend steering away from USDC, with a strong preference for high-yielding FDIC insured alternatives, the analyst said. However, if users insist on staying in crypto, the AI agents seem to prefer other platforms versus Circle, contended the firm. It sees a $4B-$9B potential medium-term downside risk to the USDC market-cap and 10%-20% to reserve revenue.Additionally on Tuesday, ACI Worldwideand Circle announced a collaboration to show how stablecoin settlement can be integrated into existing banking and payment infrastructure. The initiative leverages ACI Connetic, ACI's cloud-native intelligent payments orchestration platform, and Circle's USDC infrastructure to demonstrate how financial institutions can incorporate stablecoin settlement into existing payment operations, helping bridge traditional payment systems and emerging digital asset capabilities. The implementation will initially focus on Colombia, where ACI Worldwide built the central infrastructure powering Bre-B, the country's interoperable instant payments ecosystem.ICE TO BRING HYPERLIQUID-BASED PERPETUAL MARKETS TO U.S.:Intercontinental Exchangeand Trade[XYZ] announced Thursday a definitive agreementsubject to regulatory approvals. Under the agreement, ICE is the exclusive operator of Trade[XYZ]'s regulated markets and intends to establish a new, dedicated, regulated retail market and clearing structure for that purpose. ICE is also making a strategic investment in Trade[XYZ] to support the agreement. Trade[XYZ] offers eligible users outside the United States 24/7 access to perpetual contracts referencing equities, equity indices, commodities, and currencies. Hyperliquid provides the underlying infrastructure for these markets, while Trade[XYZ] designs and implements the products customers seek to trade."We've seen a clear increase in retail participation in markets, and that participation is becoming far more global, with retail traders increasingly seeking short-duration exposure, often around the clock. Together with Trade[XYZ], and subject to regulatory approvals, we intend to bring these markets into a U.S. regulated framework, combining Trade[XYZ]'s retail market expertise with ICE's exchange, clearing and regulatory capabilities," said Jeffrey Sprecher, CEO. "We intend to find retail traders where they want to be, through the partners, brokers, and platforms they already use. We see these perp markets as additive to our futures markets, not a replacement for them."OTHER CRYPTO NEWS:BitGoto integrate WisdomTreefundBitmine Immersionreportsas of October 25DeFi DevelopmentaddsStrivepurchases 6,182 bitcoin,price target raised to $43 from $32 at StoneXKingsway expresses concerns over TON Strategy's'limited'BNY Mellon, Ripple announceRobinhood, Ripple partner forCanton Strategic HoldingsintendsRBCH calls on SolmatetoB. Riley lowers price target on TeraWulftoApplied DigitaltoBitdeertoCleanSparktoCore ScientifictoHut 8toIrento, Keel Infrastructuretoand Riot PlatformstoSecuritizetoCRYPTO STOCK PLAYS:Publicly traded companies in the space include Bit Digital, Coinbase, Core Scientific, Mara Holdings, Strategy, Riot Platforms and TeraWulf.PRICE ACTION:As of time of writing, bitcoin dropped roughly 6% this week to $76,879 in U.S. dollars, according to CoinDesk.

Canton Strategic Holdings Partners with TSV for First Tokenized Stock Trading

Canton Strategic Holdings announced an agreement with TSV, the permissioned venue for tokenized NMS stocks on the Canton Network, to make the company's shares of common stock available to be traded on TSV. This follows TSV's notification to the SEC that it is building regulated, compliant access to tokenized equities on the Canton Network. To support the tokenization of the company's securities, Canton Strategic Holdings has engaged Fairmint, an SEC-registered onchain transfer agent, to tokenize its shares as issuer-sponsored stock. Trading is expected to begin Monday, November 2 and is intended to be the first of its kind under the new SEC rules for tokenizing onshore U.S. equities. TSV, the first Tokenized Securities Venue, intends to bring the company's tokenized shares into its automated market maker, allowing for 24/7 trading availability, atomic settlement, and verified access for institutional and retail investors. As an onchain transfer agent, Fairmint's SEC-registered subsidiary will issue the company's tokenized shares, maintain the official onchain record of their ownership, and administer compliance on every transfer. Holders of these issuer-sponsored tokenized shares would receive the same rights and privileges as those holding the company's stock via Nasdaq.

Canton Strategic Holdings Sells Biotech R&D Arm

Canton Strategic Holdings announced the sale of its biotech R&D arm, Gravitas Life Sciences, to Gravitas Collective Corp. The transaction was approved unanimously by the Board of Directors and closed on July 17.