Morgan Stanley reports record Q2 revenue ($21.35B) and profit ($5.58B), exceeding estimates, driven by a 69% surge in equities trading revenue to $6.3B, fueled by the global AI boom and strength in Asia.
Crypto exchange Binance now offers zero-commission trading of over 7,000 U.S. stocks and ETFs to non-U.S. customers, with plans to allow tokenization of these shares on its BNB blockchain. The move aims to create a multi-asset super app and integrate equities with DeFi.
Binance has launched US equities trading for eligible users, offering commission-free trading on over 7,000 stocks and ETFs. The exchange plans to introduce tokenized stocks, called bStocks, in the coming weeks, pending regulatory approval, as part of its expansion into a multi-asset platform.
Morgan Stanley's results in the quarter were powered by the firm's fixed income and equities trading operations, which produced about $8.5 billion in revenue.
Goldman Sachs reported first-quarter earnings and revenue that surpassed analyst expectations, largely due to record-breaking equities trading and robust investment banking fees. However, fixed income operations and asset management revenue fell short of targets, and the bank increased its provision for credit losses.
