Cantor Equity Partners II Inc（SECZ）のニュースとイベントSECZCantor Equity Partners II 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.

Mastercard and BVNK Launch Global Money Platform

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.MASTERCARD, BVNK LAUNCH MASTERCARD GLOBAL MONEY PLATFORM:Mastercardand BVNK announced Thursdaybringing together Mastercard's global payments capabilities with BVNK's stablecoin infrastructure through a single API. The launch marks the first major integration of Mastercard and BVNK capabilities since the acquisition of BVNK in August. Global Money Platform provides a full-stack, modular infrastructure layer for modern finance. Banks, fintechs and enterprises can now embed multi-currency accounts, including fiat and stablecoins, real-time conversion, stablecoin-linked cards and local bank payouts through Mastercard Move into their own products and under their own brand. They can also use the platform to manage their own treasury, payments and settlement activity directly.Raj Dhamodharan, EVP, Blockchain and Digital Assets at Mastercard, said, "We believe the future of commerce will be built on interoperability across multiple forms of money. Global Money Platform brings together Mastercard's trusted payment infrastructure and reach with BVNK's stablecoin capabilities, giving businesses a single foundation to move value across traditional and digital ecosystems. This is an important step in bringing our multi-money strategy to life and enabling the next generation of programmable and agentic commerce."VISA DIRECT LAUNCHES STABLECOIN-POWERED MONEY MOVEMENT:Visaannounced Thursdayas Visa Direct stablecoin capabilities advance from pilot stage to commercial deployment. In the initial rollout, Inyo Global, a Visa Direct processor, is the first enabler of this new offering, powering it for eligible Visa Direct clients and partners. Over the past year, Visa Direct has worked with clients and partners to explore how stablecoins can help improve the way businesses fund and move money across borders. As interest in faster, more flexible just-in-time funding solutions continues to grow, Visa is now seeing those efforts move beyond experimentation and into day-to-day business operations. As part of this next phase, Visa is working with Inyo Global to bring Visa Direct's stablecoin-enabled prefunding to market. Inyo has integrated the capability into its platform, giving the businesses it serves the option to prefund cross-border payouts through Visa Direct with USDC in near real time, rather than relying solely on traditional funding windows. Through a single connection, Inyo's platform lets businesses onboard users, manage fraud and compliance, accept payments and send domestic and international payouts across more than 180 countries, powered by Visa Direct."The next chapter for stablecoins is adoption," said Vira Platonova, Global Head of Visa Direct. "Over the last several years, we've worked with several partners and clients to explore how these technologies can improve money movement. We're now seeing those efforts translate into live implementations, helping businesses access more flexible and efficient ways to fund and move money globally through Visa Direct, starting with Inyo Global as our first enabler."CIRCLE TO REPORTEDLY ENTER 40 NEW MARKETS:Circleis enteringas blockchain adoption is set to scale significantly, Selena Li of Reuters reported Friday, citing comments made by CEO Jeremy Allaire. "We're kind of going through an inflection point...a transition right now, and that transition is essentially moving from the early adopter phase of blockchain technology into the mainstream scaling phase," Allaire told Reuters. Regions such as Southeast Asia, Latin America, Africa, and the Middle East have markers of rising organic demand for stablecoins and digital utility, Allaire added.TD Cowen noted that MasterCard's launch of the BVNK-integrated Global Money Platform and Visa Direct's move from pilot to commercial deployment reinforces the firm's view that stablecoin adoption is occurring as a complement to existing network infrastructure. Notably, Circle Internet's USD Coin was the only stablecoin referenced in Visa's commercial deployment announcement, and the firm would expect it to broaden, though it reinforces the view that institutional adoption will concentrate around the most established, regulated, and liquid stablecoins, the analyst said. The firm added that MasterCard and Visa announcements have positive read-through for Circle and USDC utility, though infrastructure remains multi-asset.MARQETA, COINBASE COLLABORATE FOR STABLECOIN-BACKED CARDS:Marqetaannounced Friday a collaboration with Coinbaseto bringLeveraging Coinbase's crypto infrastructure, Marqeta will enable businesses to offer a payment card solution that allows users to tap into the benefits of stablecoins by turning their stablecoin balances into everyday card spend. The collaboration will expand Marqeta's relationship with Coinbase, for whom Marqeta already issues crypto-backed cards. The expanded relationship will bring together capabilities suited to the stablecoin-backed card needs of Marqeta's enterprise customers. Coinbase will handle custody of stablecoin balances and manage the conversion between digital assets and fiat, while Base, Coinbase's blockchain, will provide the on-chain infrastructure for fast, secure, low-cost settlement. Marqeta will provide the card issuance and payment processing, and manage the bank and network relationships. Through the collaboration, businesses will be able to issue stablecoin-backed cards and fund their programs 24/7, while cardholders will be able to spend from a stablecoin balance at millions of merchants that accept cards globally."Coinbase is enabling businesses to move money with the speed and efficiency they require," said Alec Lovett, Head of Infrastructure Products, Coinbase. "Our collaboration with Marqeta will combine our stablecoin payment rails with their powerful issuing and processing capabilities to deliver real-time global transactions that meet the needs of modern consumers and businesses."Citi raised the firm's price target on Coinbase to $230 from $210 and kept a Buy rating on the shares. The firm adjusted ratings and targets in the digital asset group as part of a Q3 earnings preview. The sector is entering earnings season with a "considerably stronger backdrop" relative to a few months ago, the analyst said. Citi favors companies positioned around tokenization and market infrastructure, with a preference for "AI-enabled infrastructure stories."BITDEER AI EXPANDS MALAYSIA CAMPUS:Bitdeer AI, part of Bitdeer Technologies Group, announced Monday that it has entered intofor A103, a 60MW AI Cloud data center facility on the same Cyberjaya, Malaysia campus as its A101 and A102 facilities. A103 is designed for liquid-cooled, rack-scale NVIDIA systems, including the next-generation NVIDIA Vera Rubin platform, with energization expected in 1Q28. A103 is located on the existing Cyberjaya campus allowing Bitdeer AI to leverage established power, liquid cooling and networking to shorten the path to energization. Together with the A101 and A102 facilities, the Cyberjaya campus will represent approximately 71.5MW of AI Cloud data center capacity. With the addition of the A103 facility, Bitdeer AI's secured AI Cloud data center capacity totals approximately 333.5MW across facilities in Malaysia, Norway and the United States, representing approximately 95% of its target of up to 350MW to be delivered by 1Q28."We have secured approximately 95% of our up-to-350MW target with the addition of the A103 facility," said Michael Potter, CFO. "Adding 60MW alongside the A101 and A102 facilities means we benefit from the power, the cooling and the network infrastructure already in place, improving our time-to-market. A103 is also built for the Vera Rubin generation, which is the capacity customers are asking us about for 2028."OTHER CRYPTO NEWS:Strategyacquiresreports USD reserve of $4.88B as of October 11, price target raised to $208 from $186 at Cantor FitzgeraldSecuritizeprice targetat StoneX, downgraded to Neutral from Buy at CitiBitmine ImmersionreportsDeFi DevelopmentaddsStrivepurchases 3,311 bitcoin, reportsprice target raised to $37 from $21 at MaximTeraWulfinitiated with a Buy at TD Cowen,at Cantor Fitzgerald, Morgan Stanley says pullback 'at odds with underlying contract value'Hyperscale Datareportscompletes tokenization of 5,000 troy ounces of physical silverGeminiupgradedat CitiFigure Technologyinitiatedat Freedom CapitalGalaxy Digitalupgradedat CitiCoinShareslaunchesthrough Safe partnershipAmerican Bitcoinassumed with a Buy at H.C. Wainwright, price targetat MaximDigital Currency XtoCanaanminesBitFuFuproduceslaunches Hashrate Token with FinloopBakktselectsInteractive Brokersexpands digital asset offering withPerpetuals.comannounces plans to offeron its platformCantor Fitzgerald lowers Hut 8price targetCore Scientificto, Cipher MiningtoCleanSparktoKeel Infrastructuretoand Riot PlatformstoCRYPTO 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 1% this week to $81,807 in U.S. dollars, according to CoinDesk.

S&P 500 Earnings Expected to Grow 30% in Q3

Stocks had a flattish session as investors digested earnings reports from big banks, as well as other major names like UnitedHealth and Domino's Pizza. Analysts expect S&P 500 earnings to grow 30% year-over-year in the third quarter, according to LSEG data. Meanwhile, Federal Reserve Bank of New York President John Williams told Bloomberg in an interview that it "may be appropriate to have one more rate hike."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Big banks kicked off earnings season, with Citiand Goldman Sachsposting upbeat results, Wells Fargoreporting mixed quarterly results, and JPMorganreporting lower-than-expected Q3 earnings and revenueUnitedHealthprovided a "beat and raise" report for Q3Johnson & Johnsonalso provided a "beat and raise" report for Q3Domino's Pizzareported better-than-expected Q3 earnings and revenueAppleintroduced the Apple Home Collection lineup of smart home accessories, as well as a new 4K Apple TV and Apple HomeView2. WALL STREET CALLS:VF Corp.upgraded to Buy at Truist and to Overweight at Piper SandlerPershing Square Inc.downgraded to Underperform from Neutral at BofAViking Holdingsupgraded to Overweight at BarclaysSecuritizedowngraded to Neutral at CitiAdobedowngraded to Hold at HSBC3. AROUND THE WEB:Boeingis set to begin deliveries of 737 Max aircraft to Japan's All Nippon Airways in December, Nikkei Asia reportsTake-Two'sRockstar intends to release a PC version of "Grand Theft Auto VI" during the first quarter of 2027, GamesBeat reportsTencenttold investors its planned bond offering of $5B will finance AI-related expenditures, Bloomberg saysKrogeranticipates a reduction of over one-third of its corporate headcount, eliminating about 3,000 roles across various functions over the next 3 years, Bloomberg reportsEpic Games has postponed the release of an upcoming video game collaboration with Disneyand has told its developers to use more AI tools to complete the game, Bloomberg says4. MOVERS:Bumblegained after announcing it will be acquired by Ithaca for $6.05 per share in cashFermirose after signing a credit support agreement with AMDBigBear.aiwas higher after securing more than $225M in contract awardsSyndaxwas lower after announcing its idiopathic pulmonary fibrosis study did not meet its endpointSix Flagsfell after one park visitor died and four others were injured at Six Flags Over Georgia5. EARNINGS/GUIDANCE:Unity Bancorpreported Q3 results, with CEO James Hughes calling it "another strong quarter"FB Financialreported Q3 results, with EPS in-line with consensusBeam Globalreported preliminary Q3 resultsScienturereported preliminary Q3 results, with revenue missing consensusAlbertsonsreported Q2 results, with CEO Susan Morris stating the results "do not reflect the potential of the Company"INDEXES:The Dow fell 180.45, or 0.35%, to 51,670.10, the Nasdaq lost 41.52, or 0.15%, to 27,204.38, and the S&P 500 declined 1.79, or 0.02%, to 7,805.45.