28 Jan 2026, 21:12

MSCI reports fourth-quarter revenue of $822.5 million, up 10.6%

MSCI posted a solid finish to 2025, blowing past forecasts with fourth-quarter revenue of $822.5 million, up 10.6% from a year ago. The company’s adjusted earnings per share rose 11.5% to $4.66, while diluted EPS dipped 2.3% to $3.81. Operating income increased 14.4% to $463.6 million, and operating margin reached 56.4%. Adjusted EBITDA came in at $512 million, up 13.2%, with a margin of 62.2%. CEO Henry Fernandez said the company hit new records for index-related inflows and recurring index sales. “This was our best-ever quarter for recurring sales in Index,” Henry said. He also mentioned that MSCI was entering its 11th straight year of double-digit adjusted EPS growth and would continue to focus on AI and newer client segments. Revenue climbs across index, analytics, climate, and private assets The Index segment brought in $479.1 million, a 14% gain. Asset-based fees hit $211.7 million, up 20.7%, and recurring subscriptions reached $246.4 million, up 7.8%. MSCI’s Index Run Rate rose to $1.9 billion, an increase of 16.2%, with organic recurring subscription Run Rate up 9.3%. Adjusted EBITDA for the segment totaled $374 million, with a margin of 78.1%. The Analytics segment reported revenue of $182.3 million, a 5.5% increase. Subscriptions made up $179.7 million of that, mostly from equity and multi-asset class tools. Run Rate increased to $757.4 million, up 8.4%, with organic growth at 7.0%. EBITDA stayed flat at $83.9 million, with the margin dropping slightly to 46.0%. The Private Assets segment, which includes Real Assets and Private Capital Solutions, brought in $70.9 million, up 8.4%. Recurring subscriptions increased 9.4%, and Run Rate climbed to $292 million, up 9.5%. Adjusted EBITDA rose to $16 million, with a margin of 22.5%. MSCI expands buybacks, raises dividend, and gives 2026 outlook MSCI repurchased 4.4 million shares during 2025 and early 2026, spending $2.47 billion at an average of $559.85 per share. There’s still $2.1 billion remaining under its current repurchase program. The board approved a $2.05 per share cash dividend for the first quarter of 2026, which is 13.9% higher than the prior payout. The dividend will be paid on February 27. Total operating expenses rose 6.1% to $358.9 million, while adjusted EBITDA expenses hit $310.5 million, up 6.6%. Headcount grew 2.2% to 6,268, split between developed and emerging markets. Higher tech and office costs also pushed expenses higher. Net income fell 6.8% to $284.7 million due to higher tax expenses and other charges. The effective tax rate spiked to 26.8%, up from 15.9%, driven by a restructuring. MSCI said it expects an $88 million tax benefit in 2026 from that same internal move. Cash on hand was $515.3 million, and debt stood at $6.2 billion. The company aims to keep its debt-to-adjusted EBITDA ratio between 3.0x and 3.5x, which currently sits at 3.3x. In November, MSCI issued $500 million of senior notes due in 2036, carrying a 5.15% rate. Cash from operations rose 16.4% to $501.1 million, and free cash flow was up 17.8% to $464.8 million. Capex totaled $36.3 million. For 2026, MSCI is forecasting $1.49 billion to $1.53 billion in operating expenses. Adjusted EBITDA expenses are expected to range from $1.305 billion to $1.335 billion. The company sees capital spending between $160 million and $170 million, and free cash flow reaching up to $1.53 billion. Interest costs may climb to $280 million, and it projects an effective tax rate of 18% to 20%. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

28 Jan 2026, 21:01

The White House to host bank and crypto CEOs to resolve stalled stablecoin legislation

Bank CEOs and crypto bosses are heading to the White House on Monday to sort out a growing fight over stablecoin laws, according to a report from Reuters. The meeting is being put together by President Donald Trump’s crypto council, and it’s expected to get heated. The issue on the table is whether crypto companies should be allowed to give people interest or rewards when they hold digital dollars called stablecoins. Three people close to the talks say trade group leaders and top names from both sectors will be in the room. The White House has yet to say anything publicly. But this sit-down shows Trump’s team wants to finally get this stuck bill passed and avoid a bigger mess later. The bill is called the Clarity Act. The House already passed its version last July. The Senate’s been sitting on it. The Banking Committee was supposed to vote on it earlier this month, but pushed it back. Lawmakers didn’t like how the bill handled interest payments from crypto firms. Neither did banks. Banks and crypto firms battle over stablecoin interest payouts Crypto companies say offering interest is a key part of their business. Without it, they say it’s harder to get new users. They argue it’s unfair to block them from offering rewards just because they’re not banks. “It’s anti-competitive,” one of the firms told lawmakers in recent briefings. Banks see it a different way. They rely on deposits to survive. That’s their main funding source. If users leave them for higher interest from crypto platforms, that’s a serious risk. Bank lobbyists told Congress this could shake the whole system. There’s already data backing that fear. A report from Standard Chartered this week said stablecoins might drain $500 billion from U.S. banks by the end of 2028. That number caught attention on Capitol Hill. Some Senators are now asking whether this law opens the door to exactly that kind of cash drain. Last year’s stablecoin law banned the token issuers from paying out interest. But it didn’t clearly stop others (like exchanges) from doing it instead. Banks are now warning that crypto apps could step into the gap and start paying yield, giving them a huge edge. That’s what this meeting is trying to fix. Bitcoin stalls as ETF analysts tell traders to stay calm As the legal drama drags on, Bitcoin is trading flat. The price is currently around $89,500, while Ethereum is holding around $3,000, up 2% from the day before. Both coins had recently backed off their highs after Trump reignited talk of buying Greenland. ETF expert Eric Balchunas isn’t worried. Posting on X, he told traders to stop panicking. “People forget where we came from,” he said. Back in 2022, Bitcoin was down at $15,800. Since then, it’s blown past every other major asset; gold, silver, even tech stocks. Once the spot Bitcoin ETFs got the greenlight in early 2024, the price jumped 430%. Gold only went up 177%. Silver rose 350%. The tech-heavy QQQ index did 140%. In raw numbers, crypto crushed them all. Eric said this slow price action isn’t a failure. He called it a “coma”, where the market just waits for the big funds to come in. The smartest crypto minds already read our newsletter. Want in? Join them .

28 Jan 2026, 20:56

Can U.S. Regulators Power Trump’s Crypto Agenda Without Congress?

Trump wants the U.S. to be the “crypto capital,” but in a post‑Chevron world, how far can his regulators push for innovation exemptions without new market structure law?

28 Jan 2026, 20:52

Jerome Powell says growth looks better and the job market looks steadier

Jerome Powell said the Fed isn’t cutting rates this time. On Wednesday, the Federal Open Market Committee voted to hold the federal funds rate between 3.5% and 3.75%, ending its streak of three straight cuts. Powell didn’t say much more than he had to. No new direction, no farewell tour, just one long pause. This meeting played out like a wait-and-see moment. The last three rate cuts were called “maintenance,” just in case the labor market got shaky. But now that job gains are weak but steady, and inflation is still slightly high, Powell said the central bank can afford to stay put. “If you look at the incoming data since the last meeting, [there is] clear improvement in the outlook for growth,” Powell said. “Inflation performed about as expected, and… some of the labor market data came in suggesting evidence of stabilization.” Trump-appointed governors break from Powell over another rate cut Not everyone agreed. Stephen Miran and Christopher Waller, both put on the board by President Donald Trump, voted for another quarter-point cut. This was Miran’s fourth time voting no. Powell even pushed for a bigger half-point cut before. His term ends this Saturday, while Waller was also in the running to replace Powell, but he’s not seen as the likely pick. The committee said they’re now more confident about the economy. Their post-meeting note said:- “Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has shown some signs of stabilization. Inflation remains somewhat elevated.” Powell has only two meetings left before his term as chair ends in May. His time at the Fed has covered a pandemic, a deep recession, and nonstop fights with Trump. But Powell kept it cold and dry. He refused to say whether he plans to stay on past May, even though his governor term lasts until 2028. “I have nothing for you on that,” he told reporters. He said the same thing when asked about grand jury subpoenas related to the Fed’s building-renovation project, which is now part of a Justice Department investigation. “I have nothing for you on that,” Powell said again. Powell stresses Fed independence and fires back at model critics Powell said the Fed must stay free from politics. “When central banks lose independence from political pressures, it’s hard to restore the credibility of the institution,” he said. He doesn’t think the Fed is in danger, though. “I don’t believe we will, I hope we won’t certainly.” He didn’t name names, but his advice to the next chair was clear: stay out of politics. “Don’t get pulled into elected politics.” He said the next person in his seat should still meet with lawmakers. He called that part of being “democratically accountable.” He also took a second to talk about the Fed’s staff, calling them “the most qualified group of people you will ever work with.” That’s where the compliments stopped. Powell shut down talk that the Fed relies too much on outdated models. He said the team is fully aware that tech might be pushing productivity higher. “We’ve been discussing this for years now.” He also said when there’s a conflict between GDP data and job numbers, it’s the jobs data that usually tells the real story. We’ve seen strong GDP numbers lately; 3.8% and 4.4% for Q2 and Q3 of 2025. But Powell said those might be making the economy look stronger than it really is, since job growth has slowed way down. On criticism of the Fed’s forecasting tools, Powell didn’t back down. “No model can accurately predict what will happen in the economy, especially one that is constantly changing and full of large, unpredictable events like the pandemic and the trade war,” he said. Then he added , “Bring them on,” to anyone who thinks they can build something better. At the end, Powell summed up the whole day with one line. “I’m tempted to call this the ‘Nothing for you’ press conference.” Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.

28 Jan 2026, 20:50

Dollar Recovers as Treasury’s Bessent Delivers Crucial Reassurance, Rules Out Currency Intervention While Fed Holds Steady

BitcoinWorld Dollar Recovers as Treasury’s Bessent Delivers Crucial Reassurance, Rules Out Currency Intervention While Fed Holds Steady WASHINGTON, D.C., March 15, 2025 – The U.S. dollar staged a significant recovery in global forex markets today following a crucial statement from Treasury Undersecretary for International Affairs, Julian Bessent. Bessent explicitly ruled out any immediate plans for direct currency intervention, providing markets with much-needed clarity. This reassurance coincided with the Federal Reserve’s decision to maintain its current benchmark interest rate, reinforcing a message of policy stability. Consequently, the dollar index (DXY) climbed 0.8% against a basket of major currencies, reversing a three-day decline that had sparked intense speculation about potential government action to weaken the greenback. Dollar Recovers on Clear Policy Signal from Treasury Julian Bessent’s comments, delivered during a press briefing at the Treasury Department, served as the primary catalyst for the dollar’s rebound. He stated, “The Treasury Department believes in market-determined exchange rates. While we monitor all developments closely, we see no current justification for direct intervention in the currency markets.” This definitive stance immediately alleviated trader concerns about potential unilateral action to devalue the dollar for trade advantages. Market analysts had grown increasingly anxious after weeks of dollar strength began impacting U.S. export competitiveness. Bessent’s remarks, therefore, provided a clear anchor for forex valuations. Furthermore, his statement underscored the U.S. commitment to longstanding international financial norms. The Mechanics of Currency Intervention and Why It Was Ruled Out Currency intervention involves a nation’s central bank or treasury buying or selling its own currency to influence its exchange rate. For instance, to weaken the dollar, the Treasury would sell dollars and buy foreign currencies like the euro or yen. This action increases the dollar’s supply in the market, theoretically lowering its price. However, such measures are typically considered tools of last resort. They often signal economic distress and can provoke retaliatory actions from trading partners. Bessent’s rejection of this tool indicates the administration’s confidence in underlying economic fundamentals. It also suggests a preference for addressing trade imbalances through other policy channels, such as diplomatic engagement or domestic fiscal measures. Federal Reserve Holds Firm, Reinforcing Dollar Stability Concurrent with the Treasury’s messaging, the Federal Open Market Committee (FOMC) concluded its two-day policy meeting. As widely anticipated, the committee voted to maintain the federal funds rate target range at its current level. The post-meeting statement acknowledged “moderating but elevated” inflation and a labor market that remains tight. Crucially, the Fed’s updated dot plot indicated a slower projected path for rate cuts in 2025 compared to previous estimates. This relatively hawkish tilt provided fundamental support for the dollar’s recovery. Higher interest rates, or the expectation of them persisting, typically attract foreign capital into dollar-denominated assets, boosting demand for the currency. The Fed’s stance and the Treasury’s position now appear aligned, presenting a unified front to global markets. The table below summarizes the key policy decisions and their immediate market impact: Entity Key Decision/Statement Primary Market Impact U.S. Treasury (Bessent) Ruled out direct dollar intervention Reduced uncertainty, supported dollar recovery Federal Reserve (FOMC) Held rates steady, signaled fewer cuts Provided fundamental yield support for the dollar Combined Effect Coordinated message of stability DXY Index rose 0.8%; volatility indices fell Global Market Reactions and Expert Analysis The dollar’s recovery triggered immediate reactions across global asset classes. Major currency pairs like EUR/USD and USD/JPY moved sharply. European and Asian equity markets showed mixed responses, reflecting the complex interplay between currency values and corporate earnings for multinationals. Dr. Evelyn Reed, Chief Strategist at Global Macro Advisors, noted, “Bessent’s statement was a masterclass in verbal guidance. It provided the stability markets craved without committing to any irreversible policy action. Combined with the Fed’s patience, it creates a ‘higher for longer’ environment for the dollar.” This analysis highlights how central bank communication itself has become a critical policy tool. Other experts pointed to the relief in emerging market currencies, which often suffer from a runaway strong dollar, as a positive secondary effect of today’s stability. Historical Context and the Path Forward for Forex Markets Today’s events find precedent in past episodes of dollar volatility. For example, the 1985 Plaza Accord was a coordinated, multilateral effort to devalue the dollar. Conversely, the 1998 episode saw the U.S. intervene to support the yen. Bessent’s rejection of intervention suggests the current administration views the situation as fundamentally different. The dollar’s recent strength stems from relative economic outperformance and interest rate differentials, not speculative attacks. Looking ahead, analysts will monitor several key data points: Inflation Data: Upcoming CPI reports will dictate the Fed’s future rate path. Geopolitical Events: Tensions can drive safe-haven flows into the dollar. Global Growth: A synchronized recovery elsewhere could reduce dollar demand. Fiscal Policy: U.S. budget deficits remain a long-term influence on currency value. Therefore, while today provided clarity, the underlying drivers of forex markets remain complex and multifaceted. The Treasury and Fed have signaled a preference for monitoring these organic factors rather than overriding them with direct intervention. Conclusion The U.S. dollar’s recovery was decisively catalyzed by a clear, dual-policy signal. Treasury Undersecretary Julian Bessent’s firm ruling against currency intervention removed a major source of market uncertainty. Simultaneously, the Federal Reserve’s decision to hold interest rates steady, coupled with a cautious outlook on cuts, provided fundamental support for the currency. This coordinated stance underscores a commitment to market-driven exchange rates and policy stability. For traders and global businesses, the message is one of predictability in the near term. The focus now shifts back to economic data and global macro trends as the primary determinants of the dollar’s trajectory, with direct government manipulation officially off the table for the foreseeable future. FAQs Q1: What does “ruling out currency intervention” mean? It means the U.S. Treasury Department has publicly stated it will not buy or sell U.S. dollars in the foreign exchange market to artificially raise or lower its value. The dollar’s price will be set by supply and demand from private investors, businesses, and governments. Q2: Why would the Treasury consider intervening to weaken the dollar? A weaker dollar makes U.S. exports cheaper for foreign buyers, potentially boosting manufacturing and agricultural sales abroad. It can help reduce large trade deficits. However, it also makes imports more expensive for American consumers and can fuel inflation. Q3: How does the Federal Reserve’s decision affect the dollar? By holding interest rates steady and signaling fewer future cuts, the Fed makes holding U.S. dollar-denominated assets (like Treasury bonds) more attractive to global investors. These investors must buy dollars to purchase these assets, increasing demand and strengthening the currency’s exchange rate. Q4: What is the dollar index (DXY)? The U.S. Dollar Index (DXY) is a measure of the value of the United States dollar relative to a basket of six major world currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. It is the most widely recognized benchmark for the dollar’s overall international strength. Q5: Could this policy change in the future? Yes. While the current stance is against intervention, policy is always data-dependent. A sudden, disorderly surge in the dollar’s value that threatens financial stability or a severe economic shock could force policymakers to reconsider. However, any such move would likely be coordinated with other major economies and communicated well in advance. This post Dollar Recovers as Treasury’s Bessent Delivers Crucial Reassurance, Rules Out Currency Intervention While Fed Holds Steady first appeared on BitcoinWorld .

28 Jan 2026, 20:46

White House To Host Crypto And Banking Leaders In Push To Break Regulatory Deadlock

The White House is set to bring together senior figures from the banking and crypto industries on Monday in an effort to break the deadlock over the crypto market structure bill, namely the CLARITY Act, according to a Reuters report. The planned meeting comes as progress on the bill has stalled amid growing tensions between the two sectors over how digital assets should be regulated. White House Crypto Council To Lead Talks People familiar with the matter said the meeting will be organized by the White House’s crypto council and will include executives from several industry trade groups. Related Reading: Bitcoin Price Braces For FOMC Volatility As History Shows Major Post‑Fed Sell‑Offs Discussions are expected to focus on one of the most contentious aspects of the legislation: whether and how crypto firms should be allowed to offer interest or other rewards on customer holdings of stablecoins. The anticipated market structure legislation has been under consideration in the Senate for several months. It is intended to establish a comprehensive federal framework for regulating digital assets following the passage of the GENIUS Act last July. Stablecoin Rewards Clash With Bank Stability Fears The House of Representatives passed its version of the bill in July, but progress in the Senate has been slower. Earlier this month, the Senate Banking Committee was scheduled to debate and vote on the measure. However, the markup was postponed after cryptocurrency exchange Coinbase (COIN) withdrew its support for the bill and criticized various elements of it, including stablecoin rewards. Crypto representatives argue that offering rewards such as interest is essential to attracting and retaining customers. Related Reading: Crypto Funds Funneled To Money Launderers Hit $82 Billion, According To Chainalysis Banks, on the other hand, have raised alarms that allowing crypto platforms to pay yield on stablecoins could draw deposits away from insured lenders. Since deposits are the primary source of funding for most banks, industry representatives warn that a significant outflow could pose risks to financial stability. Featured image from OpenArt, chart from TradingView.com