Institutional trading platform LMAX is working with advisers Morgan Stanley and KBW, the investment banking arm of Stifel, to review strategic alternatives. People familiar with the matter said the options under consideration include a potential sale, a merger with a special purpose acquisition company, or an initial public offering. LMAX, which is headquartered in London, recently launched a 24/7 multi-asset exchange. The company has also received a $150 million strategic investment from Ripple. According to the information provided, that investment is tied to institutional stablecoin adoption. The development points to a period of active strategic review for LMAX as it considers possible paths for its next stage.

Institutional crypto trading venue LMAX Group is working with Morgan Stanley and investment bank KBW to review strategic options, according to CoinDesk. The paths under consideration include a sale, a merger with a special purpose acquisition company, and an initial public offering in either Nasdaq or Europe. People familiar with the matter said the company could be valued at as much as $5 billion. The report said LMAX is not under pressure to go public soon. Its foreign exchange business has helped support the company while the crypto market remains weak. That cushion appears to give the group more flexibility as it studies different routes. LMAX has also been expanding its product scope. In recent years, it launched a 24/7 multi-asset exchange that supports foreign exchange, digital assets, commodities and tokenized securities. Earlier this year, in January, Ripple made a $150 million strategic investment in the company. The funding is intended to help drive institutional adoption of the RLUSD stablecoin through LMAX’s trading and settlement network.

Robinhood will lay off about 290 employees, or 10% of its full-time staff, and expects roughly $28 million in restructuring charges as it reduces management layers and streamlines operations.

Cipher Digital (CIFR) reported Q4 revenue of $60M, missing $84.4M estimates, with a net loss of $55M. The company is pivoting from Bitcoin mining to HPC data centers, securing long-term leases with AWS and Google, sending shares up 6%.

Cango sold 4,451 BTC ($305M) over the weekend, using proceeds to repay a BTC-backed loan and refocus on AI infrastructure. The company retains 3,645 BTC worth over $250M. Other miners like Bitfarms are also pivoting.

Cango sold 4,451 BTC for about $305 million, using the proceeds to repay a Bitcoin-backed loan and cut leverage. The company still holds 3,645 BTC and says it will keep its mining business while expanding into distributed AI compute.

Wall Street’s biggest lenders are set to report second-quarter 2026 earnings this week, with analysts expecting a strong quarter for both investment banking and trading desks. CNBC reported on July 13 that JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and Goldman Sachs are scheduled to release results before Tuesday’s open, while Morgan Stanley is due on Wednesday. KBW analyst Chris McGratty expects investment banking revenue across Wall Street to rise 26% from a year earlier, with overall trading revenue up 14%. The report pointed to two main drivers: SpaceX’s IPO, described as one of the largest ever, and market volatility linked to the conflict involving Iran, which boosted activity across oil, rates and foreign exchange markets. The story also said AI-related spending on infrastructure and equipment has helped revive commercial loan demand, while low U.S. unemployment has kept consumer delinquencies on mortgages, auto loans and credit cards at relatively low levels. Analysts are also watching management commentary for the second half of 2026 and 2027, especially as questions remain over private credit defaults, deposit competition and pressure on net interest margins.

Korea Blockchain Week 2025 concluded with a record attendance of over 12,000 participants and 300 speakers, making it one of Asia's premier blockchain events. The conference covered digital assets, AI, regulation, and cultural integration, with over 80 side events in Seoul.