Galaxy Digital Reports Q3 Earnings
Galaxy (GLXY) is up 7% this morning after reporting a $323 million Q3 profit, up from an $85 million loss in the prior quarter. Data center adjusted gross profit nearly quadrupled to $79 million, helped by the first full quarter of revenue from its Helios lease in Texas. Crypto trading volumes rose 12%, while the average loan book grew 27% to $1.8 billion. The company also authorized another $200 million share buyback. This all comes after saying the BTC bottom is in just yesterday. Read more →
The CFTC wants to talk about AI trading your money
The CFTC will hold a forum Wednesday on AI-powered trading, including how its rules should apply when autonomous agents transact on someone’s behalf. The timing is fitting with bank stocks selling off last Thursday amid reports that customers were giving AI agents their banking logins, with some bots apparently acting beyond their instructions. Meanwhile, exchanges like Coinbase and Robinhood already offer official ways for customers to authorize AI agents to trade. These are different approaches to account access, but they raise a common question… how do you make sure a bot does only what its owner intended? Read more →
Ripple lands Robinhood deal and federal bank approval
Ripple has struck a deal with Robinhood to expand the reach of its dollar-backed stablecoin, RLUSD. The partnership involves using RLUSD to settle institutional trades, automate Robinhood's treasury operations and expand access to digital asset trading and financing through Ripple Prime and Bitstamp, the exchange acquired by Robinhood last year.
Separately, Ripple received final approval from the OCC to establish a national trust bank that will manage RLUSD’s reserves and safeguard digital assets for institutional clients once it opens. That puts Ripple alongside Circle, BitGo and Fidelity Digital Assets in securing national trust bank charters. Read more →
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