Mizuho analysts reaffirmed an "outperform" rating and a $26 price target on Gemini Space Station, even as the stock trades near all-time lows around $5.90. They argued that recent executive departures and market turmoil are largely priced in, while cost cuts, a 25% workforce reduction and exiting the UK, EU and Australia could support margin improvement over time. Their valuation framework also includes a $43 bull case and an $8 bear case, both above the current share price.

ProShares has launched the ProShares GENIUS Money Market ETF (NYSE Arca: IQMM), a vehicle built to hold assets eligible as reserves for dollar-pegged stablecoins under U.S. law. The fund confines holdings to cash and U.S. government securities maturing in 93 days or less, while stablecoin supply sits just under $300 billion, according to The Block's data.

Starboard Value estimates Riot Platforms’ AI/HPC plan could create $9–$21 billion in equity value, pointing to the miner’s large Texas power assets. In a letter sent Wednesday, the investor urged faster deal execution, noted AMD’s initial 25 megawatt lease with options up to 200 MW, and said about 1.4 gigawatts remain to monetize.

On Feb. 17, Gemini will see Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen and Chief Legal Officer Tyler Meade leave the company under a leadership reshuffle. Gemini will not name a new COO, with co-founder Cameron Winklevoss taking over many operational and revenue responsibilities while interim leaders fill the CFO and general counsel roles amid continued losses despite user and revenue growth.

Solana Company (NASDAQ: HSDT) said on Friday it introduced a way for institutions to borrow against natively staked SOL while keeping tokens in custody through Anchorage Digital and Kamino. The announcement sent the stock up roughly 17% to about $2.30 after hitting an all-time low near $1.80 earlier this week.

In its fiscal quarter ended Dec. 31, Nasdaq-listed Upexi doubled revenue to $8.1 million but recorded a net loss of nearly $179 million as fair value adjustments on its Solana holdings weighed on results. Digital asset operations, mainly SOL staking income, produced $5.1 million and now exceed the company's consumer brands revenue, while Upexi held over 2.17 million SOL with about 95% staked at quarter end.

Canaan reported fourth-quarter revenue of more than $196 million, up 121% year over year, as mining hardware demand improved. Shipments reached a record 14.6 exahashes per second, while mining revenue totaled $30.4 million and 300 BTC were produced. The company still posted an $85 million net loss and grew bitcoin holdings to 1,778 BTC by January.

Mizuho said Gemini's plan to exit the UK, EU and Australia and cut roughly 25% of staff could accelerate the exchange's path to profit, while maintaining an Outperform and a $26 target. GEMI traded around $7.60 on Thursday after a $6.35 low a day earlier, and the firm's bull case envisions $43.

Speaking with Yahoo Finance's Brian Sozzi on Thursday, Charles Schwab CEO Rick Wurster said prediction markets tied to economic and financial outcomes could help inform investors and support hedging, while rejecting sports betting as misaligned with the firm's mission. Turnover has grown from about $2 billion last summer to nearly $17.5 billion in January, according to The Block data.