According to CoinMeta, as reported by BBX, a Japanese Bitcoin industry company completed a third-party rights issue and capital increase of 840 million yen, historically requiring 100% delivery in physical Bitcoin, investing heavily in the Lightning Network. Meanwhile, Robinhood (Nasdaq: $HOOD) Q3 saw a 55% year-on-year decline in crypto transaction revenue, dragging down the overall performance of EPS; its post-market stock price fell by over 7%. The market is exhibiting a dual evolution trend: on one hand, real enterprises are using equity financing tools to directly exchange for crypto spot to build underlying liquidity; on the other hand, traditional retail brokers are facing structural pressure on their main businesses due to the decline in retail investors' enthusiasm for crypto trading.