Block announced a $5 billion stock buyback authorization and financial projections through 2028, driving shares up approximately 8% to $62 on Wednesday. The company projects gross profit to reach around $15.8 billion by 2028 with mid-teens annual growth. Adjusted operating income is expected to exceed $4.6 billion with roughly 30% yearly increases.

Bitcoin fell to approximately $88,600 on Wednesday, its lowest level since April and more than 5% below its opening price for 2025. The decline followed the release of Federal Reserve minutes from its October meeting, which showed significant disagreement among officials on the pace of policy adjustments amid ongoing inflation concerns.

Canaan reported third-quarter revenue of $150.5 million, up 104% year-over-year, and posted a gross profit of $16.6 million after a $21.5 million loss in the prior-year period. The Bitcoin mining hardware manufacturer's stock rose approximately 18% following the earnings release. The company's self-mining operations produced 267 BTC during the quarter, contributing to record digital asset holdings.

R25, a protocol incubated by Ant Financial, has launched rcUSD+, a dollar-pegged stablecoin that generates yield from money market funds and structured notes. The platform chose Polygon as its first blockchain integration, targeting DeFi protocols with institutional-grade tokenized assets.

Cypherpunk Technologies purchased 203,775 ZEC tokens valued at approximately $50 million, according to a company statement released Wednesday. The acquisition followed a $58.9 million capital injection from Winklevoss Capital. The firm, formerly Leap Therapeutics, acquired the tokens at an average price of $245 per coin and aims to accumulate at least 5% of Zcash's maximum 21 million token supply.

JPMorgan Chase expanded its position in BlackRock's iShares Bitcoin Trust by approximately 2.07 million shares during the third quarter, reaching a total of 5.28 million shares valued at around $333 million as of September 30. The bank's ethereum ETF allocation remained minimal at 66 shares worth approximately $1,700. The expansion comes as JPMorgan analysts project bitcoin could reach $170,000 within six to 12 months.

JPMorgan increased its December 2026 price target for IREN to $28 from $24, citing the company's $9.7 billion Microsoft contract as validation of its pivot from bitcoin mining to AI infrastructure. Analysts project IREN will need to deploy approximately 120,000 GPUs and 320 megawatts of capacity within 13 months. The buildout is expected to require more than $9 billion in capital expenditure despite Microsoft's upfront payment.

ARK Invest CEO Cathie Wood lowered the firm's long-term bitcoin price projection by approximately $300,000, attributing the adjustment to stablecoins' expanding adoption in emerging markets. Wood noted that stablecoins now fulfill payment and savings functions previously expected for bitcoin, directly impacting ARK's bullish scenario modeling. The revision references ARK's earlier forecasts, though the firm had raised its 2030 bull-case target to $2.4 million in April.

Franklin Templeton launched Hong Kong's first tokenized money-market fund on January 8, 2025. The Franklin OnChain U.S. Government Money Fund, registered in Luxembourg and backed by short-term U.S. Treasuries, uses blockchain tokens to represent investor shares and record ownership digitally. The launch aligns with Hong Kong's five-year fintech strategy focused on AI and blockchain integration across financial services.