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The latest Business stories, each checked against at least two independent reports.
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Business
Robinhood CEO pushes for tokenized stock clarity as crypto revenue drops 55%
The brokerage's cryptocurrency business declined sharply in Q3, while CEO Vlad Tenev called for clearer regulatory rules around tokenized equities.
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Business
Kalshi raises $1 billion at $40 billion valuation, plans stock perpetuals
Sequoia and Wellington co-led Kalshi's second $1 billion raise in about five months, valuing the prediction-market operator at $40 billion.
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Business
Robinhood crypto revenue falls 55% as record $1.42B revenue masks trading slump
Crypto transaction revenue dropped to $120 million while options, equities and event contracts lifted total revenue to a record $1.42 billion.
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Business
Galaxy Digital posts $323M Q3 profit and adds $200M buyback
Galaxy Digital swung to a $323 million third-quarter profit as investment gains and AI data-center revenue offset losses in its digital-assets unit, and it
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Business
Zcash co-founder seeks to end automatic funding for grants program
Sean Bowe wants ZCG's 8% block-subsidy share sent to a sustainability reserve, while Josh Swihart argues for retiring the entire development fund.
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Business
RedotPay weighs confidential US IPO filing by year-end, Bloomberg reports
The Hong Kong stablecoin payments firm is discussing a pre-IPO round that could value it at $4 billion to $5 billion, Bloomberg reported.
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Business
Anthropic files for IPO as crypto traders price AI giant near $1.9T
The Claude maker filed for a Nasdaq debut while prediction markets and derivatives traders speculate on valuations far above its last private funding round.
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Business
Tech stocks face earnings test as AI investment returns remain uncertain
Major technology companies report quarterly results amid questions about whether cloud and AI spending will deliver sustainable profits.
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Business
Standard Chartered signs definitive deal to acquire Zodia Custody
The bank has signed final agreements to buy Zodia's regulated custody entities, but regulatory approvals and closing conditions are still pending.
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Business
Musk backs SpaceX-Tesla merger idea as AI revenue jumps ninefold
Elon Musk called a SpaceX-Tesla merger a good idea, but said no terms are agreed and Tesla needs a 50% vote of all shares.
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Business
Ledger CEO clashes with ex-Mt. Gox boss over $90M wallet thefts
Pascal Gauthier and Mark Karpelès argue publicly about how clearly Ledger warned users of tampered wallets sold by a reseller.
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Business
Morgan Stanley Updates Coinbase Share Forecast to $258 Before Earnings
The bank kept its Equal Weight rating on the crypto exchange as it prepares to report third-quarter results, even as other analysts adjusted their forecasts.
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Business
Gate Partners with Visa to Launch Crypto-linked Card Across 40+ Countries and Territories
Gate says its new Visa-linked card will convert crypto to fiat at checkout in more than 40 countries and territories, with details set by local product pages.
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Business
Spiko raises $90M Series B as tokenized cash funds reach $2.7B
Spiko raised $90 million in a Series B led by New Enterprise Associates and now reports $2.7 billion in assets across its tokenized cash funds.
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Business
UK Picks 6 Banks to Lead First Digital Government Bond Pilot
The pilot, called DIGIT, will test distributed ledger technology for UK sovereign debt, with issuance targeted for Q1 2027.
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Business
Circle, Ripple and Standard Chartered Back OKX at Flat $25B Valuation
A new funding round keeps OKX at the same $25 billion mark ICE used in March, with the round size undisclosed.
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Business
Bank of America raises Coinbase price target to $203, keeps buy rating
BofA lifted its COIN target from $174 to $203 on stablecoin revenue, while trimming its third-quarter and full-year earnings estimates.
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Business
Blockchain.com reportedly targets $500M IPO at $4B to $6B valuation
The crypto exchange and wallet provider is discussing an IPO that would value it well below its 2022 peak.
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Business
HIFI raises $37M to build settlement rails for tokenized money
The stablecoin infrastructure company secured Series A funding led by Left Lane Capital to expand into cards and capital markets.