EURCV's growth highlights the increasing importance of euro-denominated stablecoins in diversifying digital finance beyond dollar reliance.

The post Societe Generale’s EURCV gains $5.6M, second-fastest-growing euro stablecoin appeared first on Crypto Briefing.

The expanded sanctions on Iran could significantly disrupt global aviation, shipping, and crypto sectors, impacting international trade dynamics.

The post US targets airlines, digital assets linked to Iran as Treasury ramps up sanctions pressure appeared first on Crypto Briefing.

A 25-company coalition including Nvidia, Microsoft, and Meta opposes US restrictions on open-weight AI models, arguing the push benefits closed

The post US frontier labs face criticism for pushing ban on open-source AI appeared first on Crypto Briefing.

US-China AI rivalry could reshape global tech dynamics, impacting markets, supply chains, and geopolitical strategies amid rising tensions.

The post US Treasury Secretary says China catching up on AI is ‘biggest risk’ for US appeared first on Crypto Briefing.

Arbitrum's rapid transaction growth and economic expansion highlight its increasing influence in blockchain infrastructure and real-world asset tokenization.

The post Arbitrum Foundation reports 478M transactions in H1 2026 as ecosystem GDP hits $206M appeared first on Crypto Briefing.

Bitcoin Magazine

Capital B Raises €7.6M From Adam Back to Fund Another Bitcoin Buy

Top bitcoiner Adam Back has invested €7.6 million ($8.8 million) in Capital B, the Euronext Growth-listed company that bills itself as Europe’s first bitcoin treasury company. 

The company said Wednesday that the investment will be used to buy more bitcoin. Adam Back is the CEO of bitcoin infrastructure company Blockstream, and one of the biggest and well-known figures in the space 

Capital B’s announcement comes after the company last week said it had raised €21 million ($24 million) in a private placement backed by Blockstream’s Adam Back and asset manager TOBAM.

“The proceeds of the Private Placement will be used primarily to strengthen Capital B’s balance sheet through the accumulation of bitcoin as a long-term reserve asset,” the company said in a statement. 

“This capital increase is a key step in implementing the company’s Bitcoin Treasury Company strategy, focused on increasing the number of bitcoin per share on a fully diluted basis over time.”

It added that the placement would fund it buying 376 additional bitcoins, taking its potential holdings to 3,521 coins from its current stash of 3,145.

Capital B is the 26th biggest publicly traded bitcoin treasury in the world, according to Bitcoin Treasuries, with a total of 3,145 bitcoins in its coffers — worth $242 million at today’s bitcoin price of $76,959. 

Capital B built much of that position through fundraising rounds during the first half of 2026. 

In May, it acquired 192 coins for €13 million after completing three capital raises.

Capital B’s is trying to build a bigger bitcoin position as other treasuries look to raise funds and accelerate their buys. 

NYSE-listed AI-powered education company Genius Group last week said it was aiming to build parallel AI and bitcoin treasuries worth a combined $1.6 billion, after the company sold its entire bitcoin reserves to repay $8.5 million in debt. 

The Bitcoin treasury model has taken a hit since last year when the price of the leading cryptocurrency took a hit. 

A number of companies in the space have had to liquidate their holdings — including the biggest corporate holder of bitcoin, Nasdaq-listed Strategy.

This post Capital B Raises €7.6M From Adam Back to Fund Another Bitcoin Buy first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

The Quantum Issue: Letter From The Editor

Quantum this, quantum that…who put a stupid cat on-chain!?

Ahem. 

Alright, let’s be serious. The threat that a viable, actually functioning, quantum computer would pose to Bitcoin if it were to be built is very serious. It is the concrete example of an existential threat, in every sense of the word. 

One of the bedrock foundations that Bitcoin rests upon is the assumption of a functioning cryptographic system that can be used to produce unforgeable signatures, i.e. that if you follow that system’s protocol properly when signing things, there is no way that anyone but a bitcoin’s rightful owner could produce a signature needed to spend it unless the rightful owner failed to secure their private key from theft. 

Quantum computers toss that right out the window. There goes the integrity of the entire mechanism that is used for owners of bitcoin to authenticate their ownership for the protocol to process their legitimately authorized transactions, and ONLY their legitimately authorized transactions. There’s no way for anyone to actually own anything in the context of the Bitcoin protocol if that assumption breaks. 

Bitcoin breaks if that assumption breaks. 

Thankfully, there are many different cryptographic systems that exist, and not all of them rest on assumptions that a quantum computer breaks. That’s the good news. The bad news is that its all a set of tradeoffs, none of them are ideal, and there are going to be some hard choices that have to be made. 

But there are solutions to just about every one of the problems that a viable quantum computer would create…except the problem of choosing which solutions to use. So in light of that, here is The Quantum Issue. 

This issue is a lot more structured than most past issues, and that is to ensure that it guides a reader through the entirety of the problem space and solution space without assuming any prior understanding (this is a very deep and technical subject). 

The first set of articles goes through the general issue of quantum computing itself, how it differs from classical computing, why that matters, how likely it is one is developed soon, etc.

The second set examines Bitcoin’s exposure. How is it exposed? How badly is it exposed? How can that degree of exposure change? 

The third set examines concrete (or developed enough to not be too hard to get to a concrete place) solutions to securing your bitcoin in a quantum safe way, and handling a network wide migration to those solutions. 

Don’t miss your chance to own The Quantum Issue — featuring articles written by many influential figures in the space working on the necessary pieces for a post-quantum Bitcoin!

This piece is the Letter from the Editor featured in the latest Print edition of Bitcoin Magazine, The Quantum Issue. We’re sharing it here as an early look at the ideas explored throughout the full issue.

This post The Quantum Issue: Letter From The Editor first appeared on Bitcoin Magazine and is written by Shinobi.

Bitcoin Magazine

Strategy CEO Defends Bitcoin Sale as the ‘Right Trade’ 

The CEO of bitcoin treasury Strategy brushed off concerns investors may have about the company selling some of its stash, instead telling reporters that the move was to strengthen its balance sheet. 

Speaking to Bloomberg on Tuesday, Phong Le said that the company now has a “bullet-proof balance sheet” and it was the “right trade at the time” to sell bitcoin when it did. 

Strategy, the largest corporate holder of bitcoin, restarted its buying the cryptocurrency on Monday after a 10-week pause. After halting its buys in June, it instead sold small amounts of its bitcoin and built two cash reserves. 

“We don’t really make decisions specifically on bitcoin’s price,” Le said. 

He added: “We’re a net accumulator, and so I don’t sit around and say, ‘Well, when am I going to sell Bitcoin next?’ It comes down to a bit of a capital management mathematical equation of when we would do it.”

“I don’t foresee us selling bitcoin as we enter into what I consider a pretty heavy bull market.” 

Strategy — formerly MicroStrategy — is an enterprise software company that pivoted to buying and holding bitcoin in 2020. 

It first bought the cryptocurrency to protect its shareholders from inflation but has since aggressively bought the asset and pivoted to being a bitcoin treasury. It is now the largest corporate holder of the cryptocurrency, with 845,050 bitcoins worth $65.1 billion at today’s prices. 

Investors can buy Strategy’s Nasdaq-listed stock (MSTR) to get heightened exposure to bitcoin’s performance. 

This year, Strategy has bought back some of its preferred stock, STRC, which is trading at a discount, and increasing its dollar cushion.  

In the company’s quarterly earnings in July, Strategy posted a $8.22 billion loss. But Le said the firm’s current paper loss wasn’t important for the time being, and that next year, its stock would soar again. 

“We’re the J.P. Morgan of the crypto economy, so whether we sell 1,000 Bitcoin out of 840,000 to me is irrelevant to the conversation,” Le said. 

Strategy stock (NASDAQ: MSTR) was trading 2% lower on Wednesday. Year-to-date, the stock is down 22%.

This post Strategy CEO Defends Bitcoin Sale as the ‘Right Trade’  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Bitcoin Slides as US-Iran Tensions Escalate 

Bitcoin slid on Tuesday after investors went into “risk-off” mode following escalating attacks between the U.S. and Iran. 

The largest cryptocurrency had initially shrugged off President Donald Trump’s threats to the Middle Eastern nation, as well as the first strikes. 

But things heated up on Tuesday, and bitcoin’s price slid. It was recently down more than 2% on the day, trading for $77,363. The coin had pushed past as high as nearly $81,282 on Friday. 

The Tuesday attacks from the U.S. were because Iran tried to put mines in the Strait of Hormuz, and also because of an attack on an American military base in Jordan, according to President Trump. 

U.S. Central Command said on X that Iran had also attacked commercial ships. 

“The strikes follow recent attempted attacks by the Islamic Revolutionary Guard Corps against commercial shipping in the Strait of Hormuz and against American service members deployed to the region,” the post read. 

Iran responded with a “decisive operation” against U.S. military bases, according to Iranian media. Oil surged on the news. 

Bitcoin’s price has been sensitive to geopolitical tensions this year — especially after Iran and Israel attacked Iran. The cryptocurrency has typically faced downward pressure on news of war, only to then rally when Trump raised hopes of a ceasefire. 

Despite Bitcoin’s price being relatively muted, in recent months, it has made more wild swings since mid-August. 

Bitcoin’s immediate reaction to rising oil prices is to drop: more expensive energy means higher inflation, and higher inflation typically means the U.S. central bank will postpone rate cuts, which can restrict the liquidity that bitcoin needs to gain momentum. 

The Federal Reserve’s chair, Kevin Warsh, last week gave his first major speech as leader of the central bank and said that inflation in the world’s largest economy had not come down enough. 

Traders are now no longer pricing in an interest rate cut this year, instead expecting a hike. Bitcoin has typically performed well in the past in low interest rate environments. 

Still, the coin had one of its best runs in August after the U.S. Treasury said it would at least double the size of its liquidity-support buyback operations, in response to surging borrowing costs. 

The announcement hurt the dollar but non-yielding assets like bitcoin and gold have benefited. 

This post Bitcoin Slides as US-Iran Tensions Escalate  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Bitcoin Defies Seasonal Slump With Third-Best August Ever

Bitcoin is known for its summer slumps. But August was different. 

In fact, the leading cryptocurrency had its third best August ever. 

As highlighted on Tuesday by Bitwise’s European Head of Research, André Dragosch, bitcoin delivered returns of 25% last month. 

“No ‘summer lull’ so far,” Dragosch wrote on X, highlighting that the only better Augusts the coin has had were in 2017 when it gave investors returns of nearly 66%, and 2013, with close to 31%. 

Multiple analyses point to the months of June-September showing weaker average returns than the rest of the year.

Throughout most of June and July, bitcoin’s volatility was particularly muted, and the coin traded below $65,000. 

But that changed in mid-August after the U.S. Treasury Department said it would more than double the size of its government debt repurchases due to fixed income markets under pressure and yields surging to levels not seen in nearly 20 years. 

Lower long-term yields reduce the opportunity cost of holding non-yielding assets like bitcoin and gold, and generally support risk-on sentiment. 

Investors flooded into bitcoin as a result. 

Positive news soon followed, with President Donald Trump urging lawmakers to get the long-awaited crypto Clarity Act over the line. The digital asset industry has long called for clear rules on how regulators should treat bitcoin, stablecoins and other cryptocurrencies. 

Despite a delay in a vote on the legislation, Trump called the draft “very powerful.” The president made the comments after having met with crypto industry bigwigs and CEOs. 

Investors also rushed back into ETFs in August, throwing over $2.8 billion at the vehicles — the most since October, when the coin hit a new all-time high. 

Bitcoin in August had its best run in three years — and is up nearly over 20% over the past month. 

The asset reached as high as $81,281 last week before sliding again on Friday. 

Bitcoin’s price recently stood at $76,883, nearly down 3% over a 24-hour period. 

This post Bitcoin Defies Seasonal Slump With Third-Best August Ever first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin traders are calling August's spike-and-fade a Bart Simpson hairline. Here's what separates an actual flash crash from an ordinary correction.

Groups including The Crypto Council for Innovation, Grayscale, and a16z urged the regulator to preserve existing fund classifications and streamline reviews for new exchange-traded products.

The unreleased model can find zero-day vulnerabilities and chain them into working exploits without a human walking it through each step, and access to that capability is starting with a small group of testers.

Two Thai businessmen claim Tether blocked access to their stablecoins months before federal authorities secured a seizure warrant.

The country's consumer watchdog went further, urging retailers to stop selling the devices until the law is clear.

Trading activity on the XRP Ledger surged in the second quarter, with average daily order-book volume rising 79% from a year earlier even as the number of accounts executing trades fell.

Bitcoin is breaking out of its bear market as giant buyers completely absorb the retail panic.

Kalshi traders are betting on Bitcoin reaching a high of $82,000 this month, amid growing expectations for another price recovery across major assets.

Former Ripple CTO backs Tether's $42 million warrantless freeze in SDNY lawsuit, warning of massive anti-money laundering risks.

September has opened on a familiar note for risk assets, with Dogecoin cofounder sharing an unexpected take.

Key Highlights

• Vertiv is purchasing Utility Innovation Holdings in a cash deal worth $1.45 billion upfront
• Contingent earn-out payments could add another $1.15 billion based on performance milestones at 12 and 24 months
• Utility Innovation specializes in microgrid management, on-site energy generation, and storage solutions for data center facilities
• The transaction is priced at approximately 13x Utility Innovation’s projected 2027 EBITDA with first-year EPS accretion expected
• VRT shares have climbed 58% since the start of the year, despite a 23% pullback in the last quarter

Vertiv Holdings revealed on Wednesday plans to acquire Utility Innovation Holdings, commonly referred to as UtilityInnovation Group (UIG), in an all-cash transaction valued at $1.45 billion.

Vertiv Holdings Co, VRT

Beyond the initial payment, the agreement incorporates performance-based consideration of up to $1.15 billion linked to EBITDA milestones measured at 12-month and 24-month intervals, pushing the maximum transaction value to $2.6 billion.

Shares of VRT experienced modest volatility on Wednesday, initially dipping approximately 0.3% during morning trading before stabilizing near unchanged levels by the afternoon session.

The acquisition places a valuation on Utility Innovation at roughly 13 times its anticipated 2027 EBITDA. According to Vertiv, the transaction should boost adjusted earnings per share during the initial complete year following the deal’s closure.

The transaction is anticipated to finalize during the fourth quarter of 2026.

Strategic Capabilities of Utility Innovation

Utility Innovation focuses on developing on-site microgrid energy systems and behind-the-meter power solutions tailored for data center operations. The company also produces advanced software platforms for real-time energy management.

These competencies represent significant strategic assets. With artificial intelligence driving unprecedented data center expansion, securing rapid grid connectivity has emerged as a critical bottleneck for facility operators.

Vertiv indicated that integrating Utility Innovation’s technology portfolio should “help data center operators secure power faster as grid constraints increasingly limit AI infrastructure deployment.”

Microgrid platforms enable the coordination of local power generation assets and battery storage, minimize reliance on traditional utility infrastructure, and can even return excess capacity to the grid during peak demand periods.

This acquisition brings microgrid control systems, distributed generation capabilities, energy storage coordination, and behind-the-meter design expertise into Vertiv’s comprehensive data center infrastructure offerings.

Acquisition Addresses Rising Infrastructure Resistance

The strategic timing of this purchase reflects current market realities. Increasing political resistance and community pushback against linking massive AI data centers to local utility networks has created significant development challenges.

Through expanding its microgrid technology portfolio, Vertiv is strategically enabling clients to circumvent these obstacles instead of confronting them directly.

Vertiv emphasized that power infrastructure choices made during early site planning phases can significantly influence the entire facility development timeline and costs.

VRT shares have posted impressive 58% gains year-to-date, representing strong performance in any context. However, the stock has retreated approximately 23% during the past three months amid a broader correction in AI-related equities.

Market reaction to Vertiv’s July quarterly results was also subdued, contributing additional downward pressure on the shares in recent weeks.

Analyst sentiment toward the company remains overwhelmingly positive. All 16 equity analysts tracking VRT maintain Buy recommendations, resulting in a Strong Buy consensus rating.

The consensus price target of $344.36 suggests potential appreciation of approximately 34% from current trading levels.

The acquisition is scheduled to conclude in Q4 2026, subject to customary regulatory clearances.

The post Vertiv (VRT) Stock: $2.6B Acquisition of Utility Innovation Bolsters Data Center Power Solutions appeared first on Blockonomi.

Key Takeaways

• Shares of CRDO tumbled 21% to $163.83 even after surpassing fiscal Q1’27 earnings and sales projections.
• The company reported adjusted earnings per share of $1.20, exceeding the $1.17 consensus; sales reached $479 million versus $473 million forecasted.
• Forward guidance calling for $525M-$535M in Q2 revenue failed to meet heightened investor expectations.
• J.P. Morgan reduced its target price from $335 down to $310; Bank of America lowered its outlook from $340 to $275.
• From a technical perspective, shares have declined approximately 40% from the 2026 peak of $308.30, with analysts warning of potential additional weakness.

Shares of Credo Technology Group plummeted 21% during Wednesday’s session, settling at $163.83 in afternoon activity, following a Tuesday evening earnings announcement that generated lukewarm responses from Wall Street analysts despite the company exceeding quarterly benchmarks.

Credo Technology Group Holding Ltd, CRDO

During the fiscal first quarter that concluded on August 1, the semiconductor firm delivered adjusted earnings per share of $1.20, surpassing analyst projections of $1.17. Total revenue reached $479 million, beating both the Street consensus of $473 million and the upper boundary of management’s guidance at $475 million. Compared to the same period last year, revenue surged 114.7%.

The company’s GAAP gross margin expanded to 64.5%, while GAAP net income reached $129.4 million, representing an increase from $64 million in the prior-year quarter. Sequentially, however, net income declined from the $169 million figure reported in fiscal 2026’s fourth quarter.

Chief Executive Bill Brennan highlighted that the firm’s “portfolio now spans connectivity from millimeters to kilometers,” encompassing both optical and copper solutions designed for artificial intelligence data center infrastructure.

Looking ahead to the current quarter ending in October, management projected revenue in the range of $525 million to $535 million.

Analyst Community Expresses Reservations

The forward-looking revenue projection disappointed market participants. J.P. Morgan’s Joseph Cardoso trimmed his target from $335 down to $310, noting that the “raised outlook is likely to disappoint,” especially regarding optical revenue expectations. “Investors and we alike had been anticipating more material upside,” Cardoso explained.

Bank of America preserved its Buy recommendation but dramatically reduced its price objective from $340 to $275, citing deceleration in Credo’s copper cable segment despite ongoing expansion in optics.

Mizuho maintained its Outperform stance and encouraged clients to “buy the pullback,” though analyst Jordan Klein conceded that both the revenue performance and forward guidance appeared “a bit skinnier” relative to previous reporting periods.

The market’s negative response underscores how CRDO had been trading at elevated expectations. The stock had climbed to a year-to-date peak of $308.30 earlier in 2026 before Wednesday’s selloff drove shares into the $160 range. This represents a decline of nearly 40% from recent highs.

Elevated Valuation Multiples Intensify Selling

Valuation metrics have also contributed to the selling pressure. Despite the recent decline, Credo continues to trade at a forward price-to-earnings multiple of approximately 45 times on a GAAP basis. The broader technology sector median stands at 29, positioning CRDO significantly above comparable companies including Dell and Nvidia by this measurement.

From a technical analysis standpoint, the stock has breached both its 50-day and 100-day exponential moving averages. Chart patterns reveal a double-top formation near the June peak levels, a configuration commonly associated with continued downward pressure. The next significant support zone to monitor is the 61.8% Fibonacci retracement level around $171.

The company manufactures copper active electrical cables and optical digital signal processors that facilitate connections between AI servers and networking switches within data center environments. Its customer base includes Amazon, Microsoft, and SpaceX, all of which have committed to expanding their data center infrastructure investments.

During Wednesday’s premarket session, CRDO shares had already declined more than 9%, touching their lowest point since July 30.

The post Credo Technology (CRDO) Stock Plunges 21% Despite Earnings Beat on Weak Guidance appeared first on Blockonomi.

Key Points

• New Jersey petitions the Supreme Court to resolve whether states retain regulatory power over Kalshi’s sports prediction platforms
• Two separate federal appeals courts have delivered contradictory verdicts on identical legal questions
• The state contends Kalshi operates unlicensed sports wagering in violation of state statutes
• The $22 billion company maintains its offerings fall under CFTC jurisdiction as federally regulated swap contracts
• The high court’s decision would establish precedent impacting prediction market platforms nationwide

New Jersey has escalated its legal fight against Kalshi by formally requesting Supreme Court intervention to determine whether state governments possess authority to oversee sports prediction markets operated by the platform.

The petition, submitted September 2, challenges an April decision from the Third US Circuit Court of Appeals that favored Kalshi. That appellate panel determined the US Commodity Futures Trading Commission holds sole jurisdiction over the platform’s sports-related contracts.

New Jersey Attorney General Jennifer Davenport maintains these platforms lack authorization to facilitate sports wagering without adhering to state regulations. She emphasized that numerous states from diverse political backgrounds have challenged Kalshi’s interpretation.

Conflicting Federal Appellate Decisions

The petition’s submission follows significant developments. On August 28, the Ninth Circuit Court of Appeals delivered a ruling opposing Kalshi in litigation involving Nevada. That panel determined Kalshi’s sports-based contracts constitute sports gambling rather than federally supervised swaps, affirming Nevada’s right to enforce its gaming regulations.

This verdict stands in sharp contrast to the Third Circuit’s earlier determination. When separate federal appellate courts issue conflicting interpretations on identical legal matters, the Supreme Court typically demonstrates greater willingness to grant review.

Multiple states including Nevada, Massachusetts, Michigan and Washington have already secured judicial orders limiting Kalshi’s business activities.

Central Issues in Dispute

Kalshi’s position maintains its offerings constitute event contracts subject to CFTC oversight under the Commodity Exchange Act. The CFTC during the Trump administration has endorsed this interpretation, initiating litigation against states attempting to apply gambling statutes to the platform.

New Jersey argues Congress never envisioned transferring sports betting industry control to federal agencies when enacting the Dodd-Frank Act following the 2008 financial collapse. The state asserts the legislation lacks sufficient clarity to eliminate state jurisdiction over this multi-billion dollar sector.

Currently valued at $22 billion, Kalshi has pursued aggressive expansion throughout the prediction markets sector.

The litigation bears the official designation KalshiEX v. Flaherty. The Supreme Court has not yet indicated whether it will grant certiorari.

Should the court accept the case, its determination would extend beyond Kalshi to influence the broader prediction markets industry, which confronts legal challenges and operational restrictions across numerous jurisdictions. Standard procedure involves docketing the petition, potentially requesting respondent briefing from Kalshi, and determining whether to grant full review.

Oral arguments have not been scheduled.

The post Supreme Court Petition Filed Over Kalshi Sports Betting Jurisdiction Battle appeared first on Blockonomi.

Key Takeaways

• Scotiabank launched coverage of Affirm (AFRM) on September 2 with a Sector Outperform rating and $95 price target
• The stock surged approximately 6% in response to the bullish analyst call
• The bank contends Wall Street incorrectly values Affirm as a cyclical lending business instead of a capital-efficient payments platform
• The company’s gross merchandise volume continues expanding at significant scale, with improved conversion to operating profit
• Wall Street firms have recently boosted price targets, now spanning from $88 to $124

Shares of Affirm Holdings surged approximately 6% on September 2 following Scotiabank‘s coverage initiation with a Sector Outperform rating and $95 price objective. The fintech stock climbed to around $74.17, representing a gain from its previous close of $73.11.

Affirm Holdings, Inc., AFRM

The central thesis from Scotiabank is clear and compelling: Wall Street continues to value Affirm as though it were a traditional, capital-intensive lender vulnerable to economic cycles, when the business increasingly operates as a lightweight payments infrastructure.

This classification is critical. Payment networks typically receive premium valuations compared to conventional lending operations, and Scotiabank believes Affirm merits recognition in the former category.

The company’s gross merchandise volume continues expanding even as it reaches meaningful scale, with the bank highlighting that incremental revenue increasingly converts to operating profit. This represents precisely the type of margin expansion and operating leverage that attracts growth-oriented investors.

The Affirm Card represents a strategic cornerstone of this evolution. The card product is driving transaction volume toward more frequent, consumer-initiated purchases while simultaneously diversifying away from merchant partner concentration risk.

Additionally, the card generates comprehensive consumer spending insights, which should strengthen Affirm‘s underwriting capabilities over time. Enhanced data analytics translate to superior credit decisioning—a critical advantage for any company operating in the consumer finance sector.

Capital Structure and Credit Performance

Regarding capital management, Affirm has successfully expanded its committed funding capacity, optimized asset-backed securities issuance, and decreased the proportion of equity capital deployed against its platform loan portfolio.

While credit quality remains the primary risk consideration, Scotiabank observed that recent loan cohort performance indicates losses are well-managed and appropriately reserved. This assessment provides important comfort for investors who remain cautious about potential credit deterioration.

Legacy dilutive factors including warrant exercises and stock-based compensation are diminishing, which should enhance reported earnings clarity in coming quarters. Leadership has established ambitious targets including $100 billion in annual gross merchandise volume alongside improved profit margins.

Top-line revenue expanded 32% on a year-over-year basis over the trailing twelve months, and the company achieved GAAP profitability. This represents a significant operational milestone that management has pursued for an extended period.

Wall Street Raises Price Expectations

Scotiabank isn’t alone in expressing increased optimism. Multiple research firms have elevated their price objectives following Affirm’s impressive fourth-quarter financial performance.

Cantor Fitzgerald increased its price target to $97, while Bernstein SocGen Group established a $110 objective. TD Cowen set the most aggressive target at $124, acknowledging a significant earnings per share outperformance that benefited partially from favorable tax impacts.

BMO Capital Markets lifted its target to $101 alongside an Outperform recommendation. Cantor Fitzgerald separately maintained an Overweight rating with an $88 target.

The company’s fourth-quarter results exceeded expectations on both revenue and earnings metrics, with fiscal 2027 guidance projecting gross merchandise volume reaching $64 billion and revenue approximating 8.49% of GMV.

Current Wall Street consensus suggests approximately 43% upside opportunity from recent trading levels. Despite this optimistic outlook, shares remain down roughly 6% on a year-to-date basis.

The post Affirm (AFRM) Stock Rallies 6% as Scotiabank Challenges Wall Street’s Valuation Narrative appeared first on Blockonomi.

Key Highlights

• Lynn Martin, President of the NYSE, revealed to lawmakers that the exchange participated in Anthropic’s Project Glasswing initiative
• The program provides select partners with early access to Anthropic’s advanced Mythos AI model for security vulnerability detection
• The exchange successfully identified and remediated several security weaknesses using the technology
• The revelation came during Martin’s response to questions from Representative Bill Huizenga regarding cyber threat preparedness
• Specific details about the nature of the vulnerabilities and remediation timeline remain undisclosed

The New York Stock Exchange has deployed artificial intelligence technology from Anthropic to identify and remediate security weaknesses within its infrastructure.

During testimony before the House Financial Services Committee on Wednesday, NYSE President Lynn Martin revealed that the exchange participated as an early partner in Anthropic’s Project Glasswing initiative.

According to Martin, the AI-powered technology enabled the exchange to discover several security issues and address them promptly. She declined to elaborate on the specific nature of the vulnerabilities or provide a timeline for when the remediation occurred.

Understanding Project Glasswing

Anthropic’s Project Glasswing represents a specialized initiative that grants exclusive access to the company’s Mythos AI model to a carefully selected group of organizations. The primary objective is to enable these partners to enhance their cybersecurity posture.

According to Anthropic, Mythos represents its highest-capability model tier. Currently, the technology remains unavailable to general users and is restricted to approved participants.

The NYSE operates under Intercontinental Exchange, its parent organization, which manages various financial market infrastructure systems worldwide.

Congressional Context

Martin’s revelation emerged during a line of questioning from Michigan Republican Representative Bill Huizenga. The congressman inquired about the exchange’s preparedness protocols for defending against organized cyberattacks.

Martin cited the Project Glasswing participation as a concrete example demonstrating the exchange’s proactive approach to bolstering its security infrastructure.

The NYSE president offered no additional information regarding the severity of the discovered vulnerabilities or the investment required to address them.

By participating in the program, the exchange joins an exclusive cohort of institutions granted early access to the Mythos model for defensive security applications.

Financial market infrastructure operators face mounting cybersecurity challenges. Regulatory bodies and legislative officials increasingly demand that major exchanges prove their ability to resist advanced cyber threats.

As a platform handling millions of transactions daily, the NYSE represents a particularly attractive target for malicious cyber actors.

Martin’s remarks to Congress made no reference to ongoing threats or security breaches. The cybersecurity work she described appears to have been conducted as preventive testing rather than incident response.

Anthropic has not released a public roster of Project Glasswing participants. The NYSE’s involvement only became known through Martin’s congressional appearance.

Shares of Intercontinental Exchange declined 1.39% on the day Martin delivered her testimony.

Neither Anthropic nor the NYSE provided additional statements at press time.

The post NYSE Deploys Anthropic’s AI to Identify and Repair Security Weaknesses appeared first on Blockonomi.