BitGo, the listed crypto custodian, reported a third-quarter profit of $44.1 million, or $0.36 a share, after losses in the prior quarter. Almost all of it came from the bitcoin on its own balance sheet: a $71.5 million unrealized gain on its corporate treasury. Strip that out and the operating business lost money, with adjusted EBITDA of minus $4.3 million.

The same day, Tokyo-listed Metaplanet and BTC Inc, the publisher of Bitcoin Magazine, announced Bitcoin Japan, a two-day conference at the Tokyo International Forum on February 23 and 24, 2028. Read together, the two releases show where institutional bitcoin money is going: into custody and treasury companies, and into the events built around them.

Two announcements on November 9 moved tokenized securities a step closer to the mainstream market. Securitize, the tokenization company that listed on the NYSE in July, agreed to buy River One, a young lender that funds loans backed by real assets, and reported its third quarter. Separately, Ava Labs said Avalanche will be the blockchain for an upcoming NYSE-affiliated platform for trading and settling tokenized securities.

Securitize adds a lending business

River One, formally River Credit Labs, was founded in New York in 2025. It was incubated by Framework Ventures and backed by Framework and Maple Finance. It provides warehouse financing: credit lines that lenders use to fund small business loans, receivables and similar assets before they are sold or packaged into securities. Its software handles loan origination, borrowing-base reporting, collateral monitoring and funding in one system.

Hawkeye Digital (OTC: HWKE), a listed incubator and merchant bank that invests in digital assets and frontier tech, has signed with Securitize to tokenize its common stock. The shares go onchain on Ethereum. Hawkeye expects tokenized HWKE to be available in 2027.

This is issuer-sponsored tokenization. The tokens are the same HWKE common stock that trades on OTC Markets, with the same dividend and voting rights. They are not wrapped shares, synthetic tokens or a fund that holds the stock and issues something else on top. Each tokenized holding is recorded onchain and reconciled to the company’s official shareholder register.

Binance says a security incident at the exchange has an estimated impact of about $6.3 billion. If that figure holds, it’s the largest theft in crypto’s history, more than four times the $1.5 billion taken from Bybit in February 2025. About $3 billion of it has been frozen on-chain so far. Binance says it will cover every loss from its SAFU fund and company money, and that user funds are safe.

Janus Henderson and Centrifuge have launched JQQQ, a fund that tracks the Nasdaq-100 and lives on a blockchain. Janus Henderson calls it the first blockchain-native fund licensed to track the index. It runs on Stellar.

The ticker is a deliberate nod to Invesco’s QQQ, the giant ETF that tracks the same index. The difference is plumbing. QQQ trades through brokers and clearing houses. JQQQ’s fund interests are issued on chain.

Ripple used its Swell conference in New York on Tuesday to announce three partnerships at once. A retail broker, a custody bank and a trade finance platform. Each one puts RLUSD, Ripple’s dollar stablecoin, somewhere it wasn’t before.

The day before, Ripple got final approval from the OCC to set up a national trust bank. That bank will hold RLUSD’s reserves and offer digital asset custody, while issuing the stablecoin stays with Ripple’s New York-regulated company. The timing wasn’t an accident.

Robinhood made $120 million from crypto in the third quarter of 2026, down 55% from a year earlier. The rest of the company grew. Total net revenue rose 12% to $1.42 billion, and options revenue was up 31% to $399 million, in results Robinhood reported on October 27.

The crypto slump didn’t sink the quarter because something else filled the gap. Event contracts, the prediction markets business, brought in $173 million, more than six times the figure a year ago and $53 million more than crypto. That’s the second quarter in a row. In Q2 event contracts made $156 million while crypto made $100 million.

Ripple is adding a round-the-clock returns feature to its corporate treasury platform, giving eligible customers a way to seek returns on qualifying digital assets held in a Ripple wallet, including Ripple USD, or RLUSD. Announced on October 26, the offer brings stablecoins closer to a familiar treasury question: what happens to cash when banks and money market infrastructure are closed?

The proposed benefit is straightforward. Corporate cash does not stop mattering on a Friday evening. A treasury team may need funds available for payments while also looking for a return on balances that would otherwise sit idle. Ripple says its new feature is designed to put eligible funds to work overnight, on weekends and during holidays, subject to program requirements.

Ascend Markets and M1X Global say they have completed the first institutional repurchase agreement on the Stellar network, using USDM1 sovereign bond collateral. The transaction ran through 72 automated hourly renewals between October 16 and 19, covering overnight and weekend periods, before repayment and collateral return. Announced on October 23, it offers a specific example of institutional financing running outside conventional business hours.

The firms reported pricing of SOFR plus 10 basis points, an annualized rate of 3.98%, and a 2% collateral haircut. USDM1 is issued by the Republic of the Marshall Islands and backed one-to-one by short-duration US Treasury instruments. Ascend says the arrangement combined contractual repo documentation with smart-contract execution and controls for identity, permissions and compliance. The claimed first applies to an institutional repo on Stellar, rather than to blockchain repo transactions generally.

The biggest bank in the United States now issues fund shares on Solana. On October 22 J.P. Morgan Asset Management, which runs $4.8 trillion, made its two tokenized money market funds available on Solana to qualified U.S. investors. Four smaller items crossed the wires the same week: Chainlink signed with the company building Korea’s central bank token pilot, Bitmine pushed its ether pile past 6 million, Bybit got a full exchange licence in Dubai, and Switzerland approved a bitcoin ETF that its sponsor calls the first of its kind in Europe.