Kripto para sektörünün ABD’deki düzenleyici geleceğini şekillendirebilecek CLARITY Act için kritik haftaya girildi. Kripto lobileri, 15 Eylül’de Senato’da yapılacak oylama öncesinde yasayı desteklemek amacıyla milyonlarca dolarlık ulusal reklam kampanyası başlattı. Ancak tasarının ilerlemesi için gereken 60 oyun hâlâ garanti olmadığı belirtiliyor.
CLARITY Act Oylamasında Neden 60 Oy Gerekiyor? Senato, 15 Eylül’de Digital Asset Market Clarity Act için görüşmelerin başlamasının önünü açacak cloture prosedürünü oylayacak. Bu aşamanın geçmesi için 60 senatörün desteği gerekiyor.
Oylamanın doğrudan yasanın kabul edilmesi anlamına gelmediğini belirtmek gerekiyor. Cloture başarılı olursa Senato tasarıyı tartışmaya başlayacak ve nihai onaydan önce başka prosedürel aşamalar da tamamlanacak.
CLARITY Act, dijital varlık piyasaları için federal kurallar oluşturmayı ve denetim yetkisini Securities and Exchange Commission (SEC) ile Commodity Futures Trading Commission (CFTC) arasında paylaştırmayı hedefliyor.
Kripto Lobileri Bankalara Karşı Neden Kampanya Başlattı? Görüşmelerin ilerlemekte zorlanması, kripto sektörünün siyasi baskıyı artırmasına yol açtı. Fairshake süper PAC ağıyla bağlantılı 501(c)(4) statüsündeki Cedar Innovation Foundation, üç ayrı televizyon reklamından oluşan yedi haneli bir kampanya hazırladı.
Reklamların ikisi tüketici korumasını ve kripto sektörü dışındaki destekçileri öne çıkarıyor. Üçüncü reklam ise yasanın bazı bölümlerine karşı çıkan bankaları hedef alıyor ve bankacılık sektörünün rekabeti engelleyerek büyük kâr elde etmeye çalıştığını savunuyor.
Özellikle küçük bankalar, stablecoin ödüllerine ilişkin hükümlerin sıkılaştırılmasını istiyor. Bankalar, kripto platformlarının getiri benzeri teşviklerle mevduatları geleneksel bankacılık sisteminden çekebileceğini savunuyor.
Kripto Piyasası İçin Tüketici Koruması Ne Sağlıyor? Kampanyanın diğer reklamları CLARITY Act’i yalnızca kripto şirketlerinin düzenleme talepleri üzerinden anlatmak yerine daha geniş bir seçmen kitlesine ulaştırmayı amaçlıyor. Bir reklamda büyük kolluk kuvvetlerinin desteği vurgulanırken AARP’nin yaşlıları hedefleyen kripto dolandırıcılıklarına karşı hükümleri desteklediği belirtiliyor.
Ancak AARP’nin desteği yasanın tamamını kapsayan bir onay niteliğinde değil. Kuruluş, özellikle kripto ATM dolandırıcılığıyla mücadele eden bir hükmü destekliyor.
Geçtiğimiz hafta National Sheriffs’ Association da önemli bir değişikliğe gitti. Kuruluş, CLARITY Act’in yasa dışı kripto faaliyetlerinin soruşturulmasını zorlaştırabileceği yönündeki itirazını geri çekerek tarafsız konuma geçti.
Trump Tartışması Tasarının Önündeki Engeli Büyütüyor Mu? Sektör ile bankalar arasındaki anlaşmazlıkların yanında daha büyük bir siyasi sorun ortaya çıktı: Başkan Donald Trump ve ailesinin dijital varlıklardan kazanç sağlamasını sınırlayacak etik kuralların kapsamı.
Cumhuriyetçi senatörler Mike Rounds ve Thom Tillis, Demokratlar ile Beyaz Saray arasındaki görüş ayrılıklarının tasarının geleceğini zayıflattığını belirtti. İki Demokrat yardımcı da Trump ve ailesini kapsayacak etik düzenlemesi konusunda fazla ilerleme sağlanamadığını söyledi.
Beyaz Saray ise bu değerlendirmeye karşı çıkıyor. Bir sözcü, Trump’ın CLARITY Act’in Kongre’den geçmesini istediğini ve yönetimin kapsamlı bir etik hükmü üzerinde çalıştığını açıkladı.
Başarısız Clarity Oylaması Kripto Düzenlemesini Geciktirebilir Mi? Senato’nun 60 oya ulaşamaması, daralan Kongre takvimi nedeniyle daha büyük sonuçlar doğurabilir. Temsilciler Meclisi eylül ayının ilerleyen dönemlerinde planlanan bazı oylama haftalarını iptal etti. Bu durum, Senato süreci başarılı olsa bile nihai kararın kasım ara seçimlerinin sonrasına kalma ihtimalini artırıyor.
Senato’nun yapacağı değişiklikler ayrıca Temsilciler Meclisi’nin onayını gerektirecek. Senatör Cynthia Lummis ise takvimin sıkışmasını, kararsız milletvekillerine yönelik siyasi baskıyı artırmak için kullanıyor.
Tasarıdaki önemli maddelerden biri, belirli aracıların müşteri varlıklarını şirket varlıklarından ayrı tutmasını ve uygun koşullardaki varlıkları iflas durumunda müşterinin mülkü olarak değerlendirmesini öngörüyor. FTX ve Celsius gibi iflaslar sonrasında ortaya çıkan sorunlar açısından bu düzenlemeler dikkat çekiyor.
Lummis, bu yıl başarısız olunması halinde piyasa yapısını düzenleyen kapsamlı bir yasanın 2030’a kadar yeniden hayata geçirilemeyebileceğini savunuyor. Bu ifade yasal bir zorunluluk değil, siyasi bir öngörü niteliğinde.
Bu içerik kesinlikle yatırım tavsiyesi niteliği taşımamaktadır. Piyasalar yüksek risk içermektedir ve yatırım kararlarınızı almadan önce kendi araştırmanızı yapmanız önemlidir.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
SANTA ROSA, Calif.--(BUSINESS WIRE)--Keysight (NYSE: KEYS):
What: At ECOC 2026, Keysight Technologies will demonstrate solutions that help engineers design, characterize, validate, benchmark, and scale the high-speed optical and AI infrastructure required for next-generation data centers. Highlights will span photonic design and characterization, AI infrastructure and interconnect validation, next-generation optical research, 1.6T optical validation and production test.
When: September 21–23, 2026
Where: Keysight booth #1154, FYCMA, Málaga, Spain
More information: Keysight at ECOC
Keysight experts will showcase solutions to:
Accelerate photonic design and characterization: Connect photonic simulation with automated PIC test and 220 GHz characterization to bridge the gap between design, validation, and high-volume manufacturing. Advance next-generation optical links: Explore 3.2T optical research and 1.6T transmitter and receiver validation to reduce design uncertainty and accelerate optical link development. Validate AI infrastructure: Validate high-speed AI and data center interconnects, benchmark AI fabric performance, emulate real-world workloads, and test AI transport and inference at scale. Scale 1.6T production: Combine high-speed optical measurement with automated interconnect validation to minimize test time, optimize yield, and accelerate production ramps. Explore AI-enabled test automation: See how AI and intelligent automation simplify photonics test development, troubleshooting, and data analysis. About Keysight Technologies
Keysight (NYSE: KEYS) serves technology innovators as a mission-critical design enablement partner for the world’s most complex engineering challenges. By connecting market-leading design, emulation, and test solutions across the full life cycle, Keysight helps engineering teams accelerate innovation, reduce risk, and bring new technologies to market faster. Customers across AI infrastructure, communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics rely on Keysight to bridge virtual design and physical reality, enabling confident decisions earlier. Learn more at www.keysight.com.
Key Takeaways Zscaler shares fell 0.6% in six months as major cybersecurity peers posted gains above 87%.Zscaler expects fiscal 2027 revenue and ARR growth of roughly 17%, down from 25% in fiscal 2026.Capital spending may reach the low teens of revenues in FY27, with free cash flow margins near 23%-23.5%. Zscaler, Inc. (ZS - Free Report) has struggled to keep pace with the broader cybersecurity sector. The stock has fallen 0.6% over the past six months, while the broader Zacks Security industry has gained 84.8%.
The performance gap becomes even more striking when compared with major peers, including Palo Alto Networks, Inc. (PANW - Free Report) , CrowdStrike Holdings, Inc. (CRWD - Free Report) and Fortinet, Inc. (FTNT - Free Report) . Palo Alto Networks, CrowdStrike and Fortinet have surged 103.5%, 93.4% and 87.3%, respectively, during the same period.
Zscaler 6-Month Price Return Performance
Image Source: Zacks Investment Research
This raises an important question for investors: Is Zscaler simply being overlooked, or is the weak stock performance signaling deeper problems
The numbers suggest the latter may be the bigger concern.
Zscaler’s Growth Story Is Losing MomentumZscaler's biggest problem is no longer its position in the cybersecurity market. It is the pace at which the business is growing.
For years, Zscaler was known for delivering revenue growth above 40%. That growth rate has steadily declined. In the fourth quarter of fiscal 2026 and for the full fiscal year, revenues increased 25% year over year. Annual recurring revenues (ARR) also rose 25% to $3.77 billion at the end of the fourth quarter.
While 25% growth is still respectable, it is a major slowdown for a company once viewed as one of the fastest-growing cybersecurity stocks.
ZS expects growth to weaken further in fiscal 2027. Zscaler is projecting roughly 17% growth in both revenues and ARR. Management has pointed to several reasons for the weaker outlook, including changes in sales leadership and execution uncertainties surrounding new product integrations.
The Zacks Consensus Estimate for fiscal 2027 revenue growth is in line with management’s guidance and points to another slowdown in fiscal 2028, with revenues expected to increase only 15.7%.
Zscaler Sales Estimates
Image Source: Zacks Investment Research
ZS’ Rising Spending Is Another Major ConcernZscaler is also spending more to support its long-term growth plans. The rapid adoption of artificial intelligence (AI) is creating new opportunities for cybersecurity companies. However, AI workloads also require more computing, memory, storage and networking capacity. Rising infrastructure costs are putting additional pressure on Zscaler's spending.
Capital expenditures accounted for 8.3% of fiscal 2026 revenues, up from 6.1% in fiscal 2025. Management expects capital spending to remain elevated in fiscal 2027 and potentially reach the low-teens percentage of revenues.
Higher investment can be justified when it leads to faster growth. The problem for Zscaler is that spending is rising, while revenue and ARR growth are expected to slow.
Free cash flow also reflects this pressure. Zscaler's free cash flow margin declined to 23% in fiscal 2026 from 27% in fiscal 2025. Management expects the margin to remain around 23%-23.5% in fiscal 2027.
Macroeconomic uncertainty, tariffs and geopolitical tensions add to the near-term risks. These factors could keep customers cautious about technology spending and make it harder for Zscaler to regain its previous growth rate.
Zscaler’s Cheap Valuation Could Be a TrapZscaler looks cheap compared with other cybersecurity stocks. The company currently trades at around 6.63 times forward 12-month sales, well below the 17.05 times for the broader Zacks Security industry.
Zscaler Forward 12-Month P/S Ratio
Image Source: Zacks Investment Research
The discount is even more noticeable compared with major cybersecurity peers like Fortinet, Palo Alto Networks and CrowdStrike. Fortinet trades at 13.19 times forward 12-month sales, Palo Alto Networks at 19.16 times and CrowdStrike at 31.63 times.
At first glance, this valuation gap looks like a bargain for a high-quality cybersecurity stock.
However, a low valuation does not automatically make a stock attractive. Investors often pay higher multiples for companies that can deliver stronger and more consistent growth. But Zscaler's growth continues to slow, which justifies its low valuation.
In other words, ZS stock is cheap because investors are already pricing in a weaker growth outlook.
Final Thoughts: Exit ZS Stock for NowZscaler remains a major cybersecurity company with significant long-term opportunities, particularly as AI and cloud adoption create new security challenges. However, the stock's current investment case is difficult to defend.
The company is facing slowing revenue and ARR growth, rising capital spending and weaker free-cash-flow margins. At the same time, Palo Alto Networks, CrowdStrike and Fortinet are delivering much stronger stock returns.
Zscaler’s discounted valuation is attractive on the surface, but it is not enough to offset the deterioration in growth. It is wise to exit Zscaler stock for now and wait for clearer evidence that growth is stabilizing.
Zscaler currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A security partnership with OpenAI sent Cloudflare shares surging while cybersecurity giants CrowdStrike and Palo Alto sat out the rally entirely, raising a pointed question about which AI security narrative investors actually believe.
Shares of Cloudflare (NYSE:NET | NET Price Prediction) are ripping higher in Wednesday morning trading on a security tie-in with privately held OpenAI that investors are treating as a marquee validation of the company’s agentic-AI positioning. Cloudflare stock is up 9% to $308.52, extending the year-to-date gain to 56%. The size of the move relative to NET stock’s peers makes this a single-name repricing rather than a broad cybersecurity bid.
Zscaler (NASDAQ:ZS) is participating on a smaller scale, likely on the read-across from its own established OpenAI relationship through the DayBreak project and prior work with Anthropic. Zscaler stock is up 3% to $166.48, adding a bid to a name that had been under pressure heading into today.
Cloudflare’s Q2 FY2026 report already flagged the theme, with revenue of $696.1 million, up 36% year over year, and non-GAAP EPS of $0.29 against the $0.27 consensus. CEO Matthew Prince framed the company as sitting at the center of a “fundamental rewrite of the Internet for machine-to-machine traffic,” and the OpenAI service gives that pitch a concrete artifact investors can point to.
OpenAI Daybreak Partnership Fuels the Bid On September 3, Cloudflare announced a context-aware vulnerability discovery and remediation service delivered through Cloudflare Managed Defense and built on OpenAI’s Daybreak cyber models. The service identifies high-risk software vulnerabilities, blocks attacks at the network edge, and generates code patches, though no financial terms accompany the partnership.
The announcement lands several sessions before today’s move, so this reads as investor conviction building around an existing launch rather than breaking news. Momentum and late recognition are doing part of the work, and Prince stated on the Q2 FY2026 call that “the number one thing that’s causing our phone to ring from big companies is them saying, listen, we know we have to do AI, but we need to do it more securely,” a positioning the OpenAI service now anchors with a shippable product.
Sector Peers Sit Out the Rally The gap between Cloudflare and the rest of the group is the real story. CrowdStrike (NASDAQ:CRWD) stock is down 0.5% to $209.04, while Palo Alto Networks (NASDAQ:PANW) stock is down 0.85% to $334.13. Both companies have well-developed AI-security stories of their own that aren’t catching today’s bid.
For sector framing, the First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR) is up 0.4% to $94.41, a muted gain that underscores how concentrated today’s flow is in Cloudflare. Furthermore, the Invesco QQQ Trust (NASDAQ:QQQ) is down 0.54% to $714.46. The CIBR ETF holds all four of today’s featured stocks, with Palo Alto and CrowdStrike as its heaviest cybersecurity weights and Cloudflare and Zscaler as smaller positions.
On the CrowdStrike Q2 FY2027 call, CEO George Kurtz stated that AIDR “can be bigger than the EDR business” given the volume of AI agents each employee will run, and net new ARR of $332.8 million grew 51% year over year. Palo Alto CEO Nikesh Arora called AI “a long-term tailwind for cybersecurity” on the Q4 FY2026 call after adding nearly $1 billion in net new next-generation security ARR in a single quarter. The absence of a sympathy move in either name reinforces the read that investors are paying for Cloudflare’s specific OpenAI positioning rather than a sector re-rate.
What to Watch Insider filings show recent share disposals from Cloudflare President and Co-Chair Michelle Zatlyn, CEO Matthew Prince, and CFO Thomas Seifert dated August 15, with additional Zatlyn dispositions running through August 21. The recurring monthly cadence points to scheduled trading plans rather than reactive selling, worth naming since a headline about a large insider sale can otherwise land the wrong way.
Investors can watch for whether Cloudflare stock holds above $300 as the session progresses, and whether the OpenAI narrative eventually pulls in secondary names beyond Zscaler. The company’s next scheduled data point is Q3 2026 results, with prior guidance calling for revenue of $736 million to $737 million and diluted net income per share of $0.34. Position sizing on one’s NET stock exposure here should reflect that today’s move is momentum-led rather than tied to newly disclosed financial terms.
Contact [email protected] for any questions or corrections.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in RKLB over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
It has been about a month since the last earnings report for Rocket Lab Corporation (RKLB - Free Report) . Shares have lost about 17.7% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Rocket Lab Corporation due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Rocket Lab Corporation before we dive into how investors and analysts have reacted as of late.
RKLB’s Q2 Loss Narrower Than Expected, Revenues Increase Y/Y
Rocket Lab delivered a narrower-than-expected second-quarter 2026 loss, supported by better-than-expected profitability. The company reported a loss of six cents per share compared with the Zacks Consensus Estimate of a loss of seven cents, delivering a 14.3% earnings surprise.
RKLB’s RevenuesQuarterly revenues totaled $234.1 million, which surpassed the Zacks Consensus Estimate of $232 million by 1.1%. Sales rose 62% year over year, reflecting continued momentum across the business. Notably, Rocket Lab ended the quarter with record contracted demand, with backlog reaching $2.36 billion, up 137% year over year.
RKLB’s Segment Mix Drives Solid Gross ProfitabilityRocket Lab generated $181.3 million in product revenues and $52.7 million in service revenues in the quarter. The company reported GAAP gross margin of 36.1% and non-GAAP gross margin of 41.5%, both above its prior guidance ranges.
Space Systems revenues amounted to $189.5 million, up 94% year over year, driven primarily by spacecraft manufacturing growth and acquisitions. Launch Services revenues totaled $44.6 million, down 4% year over year, mainly due to revenue-recognition timing related to HASTE missions.
RKLB’s Expenses Reflect Neutron Investment and One-Time ItemsOperating expenses totaled $142.1 million, with research and development expenses of $82.4 million and selling, general and administrative expenses of $59.7 million. R&D expenses rose 25% year over year, primarily due to Neutron development, incremental spending at recently acquired businesses, higher staffing costs and spacecraft-related prototype work. SG&A expenses increased 50%, reflecting acquisition-related spending, additional staff to support revenue growth and transaction expenses tied to the company’s acquisition pipeline.
The company continued to invest in Neutron development and production scaling. Management also highlighted a shift in spending from R&D toward flight inventory as Neutron moves closer to its first launch, while production-related headcount increased during the quarter.
Rocket Lab’s Liquidity UpdateRocket Lab ended the quarter with approximately $2.13 billion in cash and cash equivalents. Including restricted cash and marketable securities, total liquidity was roughly $2.4 billion, reflecting a substantial sequential increase in financial flexibility.
The increase was driven largely by $1.08 billion of proceeds from at-the-market equity issuance during the quarter before the program was terminated. The company intends to use its liquidity to support acquisitions, including the pending Iridium transaction, as well as Neutron development, working capital and other corporate investments.
RKLB’s Q3 OutlookFor the third quarter of 2026, Rocket Lab expects revenues to be between $250 million and $265 million. The company expects GAAP gross margin of 29-31% and non-GAAP gross margin of 35-37%, reflecting an expected shift in the Space Systems revenue mix.
GAAP operating expenses are expected between $143 million and $149 million, while non-GAAP operating expenses are projected in the band of $121-$127 million. Rocket Lab also anticipates an adjusted EBITDA loss of $17-$23 million and net interest income of $21 million, supported by higher cash balances. Management expects negative non-GAAP free cash flow to remain elevated due to continued Neutron development and production scaling.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.
The consensus estimate has shifted 21.43% due to these changes.
VGM ScoresAt this time, Rocket Lab Corporation has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock has a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Rocket Lab Corporation has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Rocket Lab launches IMM Apex with 31.5% efficiency for space power systems. IMM Apex cuts solar cell mass by 40% while reducing reliance on germanium use. Rocket Lab targets higher satellite demand with scaled solar cell production. More than 1,100 satellites already use Rocket Lab solar power technologies. RKLB closed 2.51% higher as Rocket Lab expanded its space systems portfolio. Rocket Lab expanded its space power business by releasing the new IMM Apex solar cell for production. The product combines higher efficiency, lower weight, and less dependence on germanium for spacecraft systems. RKLB closed at $65.87, up 2.51%, before falling 0.18% after hours to $65.75.
Rocket Lab USA, Inc., RKLB
IMM Apex Raises Space Power Efficiency Rocket Lab designed IMM Apex with 31.5% beginning-of-life solar conversion efficiency for space missions. The company also cut cell mass by 40%, increasing specific power for satellites and exploration spacecraft. Higher specific power lets spacecraft builders generate more electricity without adding similar system weight.
The new design removes germanium substrates used in conventional multi-junction solar cells across the industry. Rocket Lab reduces exposure to rising material costs and supply constraints affecting germanium. The change also gives production teams more flexibility when planning larger manufacturing volumes.
Rocket Lab made IMM Apex compatible with mechanical and electrical systems built for germanium-based cells. As a result, customers can integrate the product without major redesigns or costly manufacturing changes. This approach simplifies adoption across established spacecraft platforms while preserving existing engineering processes.
Rocket Lab Expands Solar Cell Production Rocket Lab improved manufacturing methods and invested in equipment to support demand for space power hardware. The company can produce IMM technology at volumes reaching several hundred kilowatts for customer programs. That capacity supports larger satellite fleets and exploration missions requiring reliable solar power systems.
Rocket Lab has developed and tested its IMM technology through more than a decade of space operations. Earlier IMM cells powered NASA’s Ingenuity Mars Helicopter during its historic mission on Mars. The technology has also supported satellites operating in orbit for more than ten years.
The company continues advancing IMM products for civil, commercial, security, and scientific space applications. Rocket Lab has completed extensive testing and qualification work across demanding mission environments. IMM Apex now enters production as the company expands solar manufacturing and customer reach.
RKLB Stock Reflects Broader Space Systems Push Rocket Lab’s solar operations extend its business beyond launch services and strengthen its space systems portfolio. Its products have supported the James Webb Space Telescope and NASA’s Artemis lunar exploration program. The company has also supplied power technology for national security and interplanetary science missions.
More than 1,100 satellites currently use Rocket Lab solar products across commercial and government programs. IMM Apex adds a lighter option while addressing supply risks facing traditional solar cell production. Its germanium-free structure also supports more predictable sourcing, manufacturing schedules, and production costs.
RKLB stock finished higher as Rocket Lab added another product to its expanding space systems lineup. IMM Apex gives the company a new offering tied directly to satellite and exploration power demand. Future sales will depend on customer adoption, production scale, and growth across global spacecraft programs.
The market takes ETH, wstETH, WBTC and cbBTC as collateral against USDC at loan-to-value ratios of up to 87%. Compound says borrowing is open to anyone, with approval required only for the 200,000 USDC in supplier rewards.
Compound Foundation has opened a USDC lending market that takes ETH, wstETH, WBTC and cbBTC at loan-to-value ratios of up to 87%, three weeks after relaunching the protocol around institutional credit.
The Institutional Market is the first product out of the $52 million program COMP holders approved in May, and it went live under a control structure the DAO never voted on. The Treasury Management Committee administers the market and a separate Safe holds authority over its collateral and parameters, an arrangement a Compound delegate is now asking COMP holders to reverse.
The market lends USDC against ETH, wstETH, WBTC and cbBTC, and runs on Compound v3. Compound holds $1.53 billion in total value locked with $638 million borrowed against it, sixth among lending protocols on DefiLlama and up 23% over 30 days. Ethereum carries $1.42 billion of that, or 93%. COMP trades at $20.88, up 9% over seven days, for a market cap of $212 million.
"With today's Institutional Market launch, we are taking the first step toward building infrastructure to meet institutional client demands, including better capital efficiency, clearly defined risk, and a much higher standard of service," said Aaron Schnarch, executive director of Compound Foundation. "We are encouraged by the market demand, and look forward to launching additional capabilities over the coming months."
Oversubscribed At LaunchCompound says the market was oversubscribed on day one, with DeFi Saver, K3, KPK and Yearn taking part. The company gave no figure for how much was subscribed.
"Compound is combining the capital efficiency of onchain markets with the level of service institutional participants expect. The ability to access more efficient borrowing while working directly with a team that understands institutional requirements makes this a compelling new market for us," said Marcelo Ruiz de Olano, co-founder and CEO of KPK.
Four Assets, One BorrowThe collateral list is short and liquid: two forms of ether and two forms of wrapped bitcoin.
Compound's argument is that a market holding only those four assets can run higher loan-to-value ratios than one that has to price the tail, and that lenders capture better economics as a result. Borrowing is open to anyone. The approval process and a 100,000 USDC minimum deposit apply to the boosted supplier rewards, which run to 200,000 USDC paid pro rata over three months against a $20 million supply cap.
Compound's market page puts ETH at an 87% loan-to-value ratio, wstETH at 85%, and WBTC and cbBTC at 81%, with a $10 million borrow cap on each. Liquidation factors run from 93% on ETH to 86% on the two bitcoin assets, and liquidation penalties from 5% on ETH to 10% on WBTC and cbBTC.
The Foundation has described the market to delegates as an Institutional Comet built under v3.5, outside the V4 roadmap the DAO funded, to test an institutional use case. Compound also says v3 has run four years without an exploit, a claim worth stating as the company's own.
Who Holds The KeysCompound delegate ugurmersin asked COMP holders on Sept. 9 to move ultimate control of the market to Compound governance, writing that the DAO "does not currently appear to have ultimate control over Institutional Comet" and that he could find no governance authorization for the current structure or any way for COMP holders to revoke it. The proposal would leave day-to-day operation with the Foundation and the committee while requiring the administrators to publish a full permissions map within 10 business days and transfer ultimate authority within 30. It also notes that the committee's mandate from the DAO covers treasury management, not administering a lending market. The Foundation had not responded on the forum as of Wednesday.
Mostly Still In ReserveCOMP holders approved the budget on May 8, with 1.88 million COMP in favor and none against, and it executed two days later. The Foundation made it public on Aug. 17 alongside four hires from Coinbase, Anchorage, NEAR and Maple. Schnarch, the executive director, was chief operating officer of Anchorage Digital and chief executive of Coinbase Custody. The two-year budget runs $28 million for operations and $24 million for growth, but only $14 million went to the Foundation's multisig; the other $38 million sits in reserve against milestones that include a staffed engineering team and a production v3 integration kit.
Shipping an institutional product three weeks in is the first of those milestones met in public. Whether the remaining $38 million follows is a DAO decision, not a Foundation one.
The $480 Billion LineCompound's boilerplate puts the protocol at "approximately $480B in deposits and borrowing volume" since 2018. Compound sits behind Aave's $17.5 billion and Morpho Blue's $9.6 billion in a lending category holding $50.2 billion across 639 protocols, with 3.1% of the total.
Compound wrote the template for onchain lending in 2018 and now holds less than a tenth of Aave's deposits, and the institutional market is its attempt to win back size on terms and service rather than rates. Compound calls it the first in a planned series built around different collateral types and borrower profiles.
CORRECTION, Borrowing is open to anyone and approval applies only to the supplier rewards; COMP holders approved the program in May and the Foundation made it public in August; the participant is K3. The story has also been updated with the market's liquidation parameters and with a governance proposal filed Sept. 9.
Compound Foundation launched a permissioned lending market on September 8 that only institutional borrowers can access, effectively carving the protocol’s liquidity pool into two distinct layers. Whitelisted participants get their own collateral sets, custom loan-to-value ratios, and tailored risk parameters, all separate from the retail-facing side of the protocol.
The move comes three weeks after Compound relaunched itself around institutional credit, and roughly a month after a DAO vote approved a $52 million development program, the largest funding initiative in the protocol’s history.
A protocol reinventing itself In August, Compound’s DAO greenlit the two-year, $52 million budget with $14 million released upfront and the rest gated behind milestones. The program is focused on onboarding regulated financial players: banks, asset managers, exchanges, and fintechs.
Leading the charge is a new executive team with deep roots in traditional finance. Aaron Schnarch, formerly CEO of Coinbase Custody, now serves as Executive Director. Christopher Donovan holds the COO role, Steven Liu is CPO, and Leo Eikelman fills the CTO seat.
The foundation says it has more than 10 confirmed partners, with discussions underway with over 20 additional potential collaborators.
Under the hood, the development program is building out compliance tooling including KYC and AML infrastructure, permissioned vaults, and integration kits designed to plug Compound’s lending rails directly into institutional workflows.
Why institutions, why now Compound’s total value locked currently sits at roughly $1.2B, down from a peak of $12B in September 2021. Since its 2018 launch, Compound has processed approximately $480B in total deposits and borrowing volume, and has recorded zero bad debt across its entire operational history.
The permissioned market structure directly addresses the single biggest objection institutions have had to DeFi participation: regulatory risk. By creating a walled-off environment where only whitelisted, KYC-verified entities can borrow, Compound sidesteps the compliance concerns that have kept most regulated capital on the sidelines.
The competitive landscape shifts The development program explicitly targets RWA support, which positions Compound to facilitate lending against tokenized treasuries, bonds, and other traditional financial instruments.
For existing COMP token holders, the strategic pivot carries both promise and risk. If institutional capital flows materialize, the protocol’s revenue and TVL could recover meaningfully from current levels. The milestone-gated budget structure provides some protection against the $52M being spent without results, but $14M is already out the door.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Compound Foundation has launched a USDC lending market with loan-to-value ratios of up to 87% as part of its $52 million plan to attract institutional capital.
Summary
The market supports ETH, wstETH, WBTC, and cbBTC as collateral for USDC borrowing. Loan-to-value ratios range from 81% for Bitcoin collateral to 87% for ETH. Compound said DeFi Saver, K3, KPK, and Yearn joined the oversubscribed launch. A Compound delegate has questioned whether the DAO retains final control over the market. Compound Foundation said in a Sept. 9 announcement that its Institutional Market runs on Compound v3 and separates selected collateral into a lending pool designed around specific liquidity and risk conditions.
Borrowers can use Ether (ETH), wrapped staked Ether, Wrapped Bitcoin, or Coinbase Wrapped BTC to access USDC. The market gives ETH an 87% loan-to-value ratio, while wstETH carries an 85% ratio. WBTC and cbBTC each have an 81% ratio.
Each collateral asset has a $10 million borrowing cap. Liquidation factors range from 86% for WBTC and cbBTC to 93% for ETH, while penalties begin at 5% for ETH and rise to 10% for both Bitcoin-backed assets.
Compound promoted the product as an institutional-only market in its announcement. However, its official market page states that anyone can borrow, while approval applies to suppliers seeking additional incentives.
Compound market pairs higher LTVs with a narrow collateral list By limiting the market to four liquid collateral assets, Compound said it can offer terms based on their individual risk and liquidity profiles instead of applying one set of conditions across a large group of tokens.
Institutions often manage larger positions and follow internal risk controls that differ from those of retail users, according to the foundation. Compound said the new structure provides increased borrowing capacity, defined collateral parameters, and direct operational support.
A dedicated contact will assist participating institutions with onboarding, market updates, and other operational matters. Compound also said USDC suppliers will receive the standard market yield, while approved lenders can qualify for extra incentives.
The rewards program will distribute as much as 200,000 USDC on a pro-rata basis over three months. Applicants must supply at least 100,000 USDC, and only the first $20 million in eligible deposits will count toward the program.
Compound said the market was oversubscribed when it opened, naming DeFi Saver, K3, KPK and Yearn among the participants. The foundation did not provide the amount committed or explain how much demand exceeded the available capacity.
“With today’s Institutional Market launch, we are taking the first step toward building infrastructure to meet institutional client demands, including better capital efficiency, clearly defined risk, and a much higher standard of service,” Compound Foundation Executive Director Aaron Schnarch said.
According to Schnarch, early demand encouraged the foundation, which plans to release more capabilities over the coming months.
KPK co-founder and CEO Marcelo Ruiz de Olano said direct access to a team familiar with institutional requirements made the market attractive to his company.
“Compound is combining the capital efficiency of onchain markets with the level of service institutional participants expect,” Ruiz de Olano said.
Institutional market follows Compound’s $52 million program Three weeks before the product launch, crypto.news reported on Compound’s new management team and its DAO-approved, two-year development program.
COMP holders approved $28 million for operations and another $24 million for growth and incentives. The package represents the largest development allocation in the protocol’s history, according to the foundation.
Only $14 million was moved to the foundation’s multisignature wallet at the start of the program. The remaining $38 million stayed in reserve, with future releases linked to delivery targets such as assembling an engineering team and producing a Compound v3 integration kit.
Along with Schnarch, the management group includes Chief Operating Officer Christopher Donovan and Chief Product Officer Steven Liu. Team members brought experience from Coinbase Custody, Anchorage Digital, Near Foundation, Maple Finance, HSBC, and Broadridge Financial.
The program covers institutional lending, real-world assets, and tools that allow financial companies to connect with Compound’s infrastructure. Improving capital efficiency also forms part of the plan, as does building credit products around traditional finance requirements.
Founded in 2018, Compound helped establish blockchain-based borrowing and lending through permissionless markets governed by COMP holders and delegates. The foundation says the protocol has processed about $480 billion in cumulative deposits and borrowing volume, although the figure does not represent current assets held on the platform.
Data cited by The Defiant placed Compound’s total value locked near $1.53 billion around the launch, with approximately $638 million borrowed. Ethereum accounted for about $1.42 billion, or 93%, of the protocol’s locked assets.
US financial firms are also expanding crypto-backed credit For US institutions, Compound’s use of USDC and Bitcoin or Ether collateral places the product alongside several recent crypto-backed lending programs, although the legal structures and access models differ.
In August, JPMorgan’s collateral program was reported to allow institutional clients to pledge Bitcoin and Ether for US dollar loans through its Kinexys digital asset platform. Fidelity Digital Assets and Coinbase Custody were named among the custodians holding the pledged assets.
Kraken and Maple also introduced a USDC-funded lending facility in June. Their structure uses a bankruptcy-remote special purpose vehicle to fund overcollateralized loans backed by Bitcoin and Ether, with Maple providing senior financing and Kraken servicing the loans.
Retail access to onchain credit has expanded through centralized platforms as well. Coinbase added an Ethena-linked USDC vault in June, using Morpho markets and allocations managed by Steakhouse Financial.
Unlike bank and special-purpose-vehicle lending arrangements, Compound’s new market operates through its v3 smart-contract infrastructure. The foundation described Compound v3 as having completed four years of production use without an exploit, a performance claim made by Compound rather than an independent auditor.
Compound delegate questions who controls the market While the product was open, Compound delegate ugurmersin submitted a governance proposal asking for the DAO to receive ultimate authority over the Institutional Market.
The delegate said Compound governance did not appear to have approved the market’s current control structure. According to the proposal, the Treasury Management Committee administers the product, while a separate multisignature wallet holds authority over its collateral settings and other parameters.
Ugurmersin also said the committee’s existing DAO mandate covers treasury management rather than the operation of a lending market. The delegate could not identify a mechanism allowing COMP holders to withdraw the administrators’ permissions under the present setup.
Under the proposed changes, the foundation and committee could continue handling daily market operations. Administrators would have 10 business days to publish a full map of their permissions and 30 days to transfer final authority to Compound governance.
The Compound Foundation had not posted a public response to the governance proposal at the time of publication.
Project World is continuously optimizing its front-end UI, with user deposits secure and transactions functioning normally.
World, a full on-chain prediction market in the Solana ecosystem, announced in a post that its website is currently experiencing high traffic, with over 1 million users accessing the platform. User deposits remain secure, platform transactions are executing normally, and backend systems are operating as expected. The team is continuing to optimize the frontend user interface, and the overall operation of the platform is in good condition.
8 minutes ago
Iranian officials announced that Iran will escalate its crackdown operations in response to U.S. attacks.
Iranian officials have stated that Iran will escalate its retaliatory strikes in response to the U.S. attack. (Jinshi)
8 minutes ago
US Treasuries extended their decline after the repurchase announcement, with the market viewing the $6 billion cap as insufficient.
The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
8 minutes ago
Eric Trump mocks Joe Biden’s son Hunter Biden over the botched launch of the LAPTOP token, saying he should go back to painting.
US President Donald Trump’s second son Eric Trump reposted a post about the meme coin LAPTOP’s sharp price crash after its launch, commenting: “Hunter should go back to painting.” His remarks target Hunter Biden, son of former US President Joe Biden, who launched the meme coin LAPTOP. The reposted post notes that LAPTOP plummeted 98% within minutes of going live, adding that the project had originally planned to allocate a portion of its tokens to users who incurred losses from TRUMP-related transactions.
8 minutes ago
Solana ecosystem prediction market World officially launches, opening to over 1 million waitlist users.
Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.
8 minutes ago
Bubblemaps: 80% of LAPTOP traders are losing money, with two traders suffering losses ranging from $100,000 to $1 million.
Bubblemaps posted that profit and loss data for LAPTOP traders shows roughly 80% of participants are in the red, describing the token’s market performance as a "bloodbath". Specifically, two traders lost between $100,000 and $1 million, 100 lost over $10,000, 700 lost more than $1,000, and around 11,000 traders posted small losses. Bubblemaps did not further disclose the statistics’ time frame or the scope of the wallet sample used.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
According to monitoring by crypto analytics platform Yu Jing, a whale holding 149,800 ETH (worth approximately $377 million) via leverage sold 6,000 ETH four hours ago, converting the proceeds to 14.97 million USDe to repay a loan on Aave. The average selling price for the ETH was $2,496. The whale currently holds 143,800 ETH (valued at around $362 million), with $181 million in outstanding debt on lending platforms, putting its overall leverage at 2x.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Project World is continuously optimizing its front-end UI, with user deposits secure and transactions functioning normally.
World, a full on-chain prediction market in the Solana ecosystem, announced in a post that its website is currently experiencing high traffic, with over 1 million users accessing the platform. User deposits remain secure, platform transactions are executing normally, and backend systems are operating as expected. The team is continuing to optimize the frontend user interface, and the overall operation of the platform is in good condition.
8 minutes ago
Iranian officials announced that Iran will escalate its crackdown operations in response to U.S. attacks.
Iranian officials have stated that Iran will escalate its retaliatory strikes in response to the U.S. attack. (Jinshi)
8 minutes ago
US Treasuries extended their decline after the repurchase announcement, with the market viewing the $6 billion cap as insufficient.
The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
8 minutes ago
Eric Trump mocks Joe Biden’s son Hunter Biden over the botched launch of the LAPTOP token, saying he should go back to painting.
US President Donald Trump’s second son Eric Trump reposted a post about the meme coin LAPTOP’s sharp price crash after its launch, commenting: “Hunter should go back to painting.” His remarks target Hunter Biden, son of former US President Joe Biden, who launched the meme coin LAPTOP. The reposted post notes that LAPTOP plummeted 98% within minutes of going live, adding that the project had originally planned to allocate a portion of its tokens to users who incurred losses from TRUMP-related transactions.
8 minutes ago
Solana ecosystem prediction market World officially launches, opening to over 1 million waitlist users.
Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.
8 minutes ago
Bubblemaps: 80% of LAPTOP traders are losing money, with two traders suffering losses ranging from $100,000 to $1 million.
Bubblemaps posted that profit and loss data for LAPTOP traders shows roughly 80% of participants are in the red, describing the token’s market performance as a "bloodbath". Specifically, two traders lost between $100,000 and $1 million, 100 lost over $10,000, 700 lost more than $1,000, and around 11,000 traders posted small losses. Bubblemaps did not further disclose the statistics’ time frame or the scope of the wallet sample used.
Aave Labs just made it a lot easier for AI agents to talk to its lending protocols. The team launched a Model Context Protocol (MCP) server that gives AI applications a single, standardized endpoint to pull live data from both Aave V3 and V4, replacing the patchwork of static datasets and third-party wrappers that developers previously had to cobble together.
The server, accessible at mcp.aave.com, connects to Aave V3 deployments across 21 different blockchains and to Aave V4 on Ethereum and Avalanche. Think of it as a universal translator between AI models and Aave’s on-chain infrastructure.
What the MCP server actually does Model Context Protocol, or MCP, is a standardized way for AI applications to access external data and tools in real time. Aave’s implementation offers approximately 40 tools that cover everything from market data retrieval to transaction preparation.
Users and AI agents can check wallet positions, examine health factors (the metric that determines how close a position is to liquidation), simulate potential actions before committing capital, and prepare unsigned transactions. That last part matters: the server is non-custodial by design, meaning it can assemble a transaction for you but never holds your keys or signs anything on your behalf.
For a concrete example: an AI portfolio manager could now query a user’s Aave positions across multiple chains, identify that a health factor on one position is trending dangerously low, simulate a partial repayment to see how it would improve the ratio, and prepare the exact transaction needed to execute it. All in one flow, all from one data source.
Why this matters for DeFi’s AI race Aave’s approach is notable for its scope. Supporting V3 across 21 chains means the MCP server covers the vast majority of Aave’s deployed capital. Adding V4 on Ethereum and Avalanche signals that the team views this integration layer as forward-looking, not just a convenience feature bolted onto legacy infrastructure.
The non-custodial architecture is a deliberate design choice that addresses one of the thorniest questions in the AI-agent space: who controls the keys? By limiting the server to unsigned transactions, Aave sidesteps the trust problem entirely. An AI agent can do everything up to the point of execution, but a human (or a separate, purpose-built signing module) still has to approve the final step.
The roughly 40 tools available at launch suggest Aave is thinking about this comprehensively rather than offering a minimal viable product. Market data, position management, risk simulation, and transaction preparation cover the core workflows that any AI-powered DeFi application would need.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of ADC, O, EPRT, NNN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Dividend investors can often be grouped between high-yield investors and dividend growth investors. Today, I'm looking at the higher-yielding income-focused investor and providing two potential opportunities. One of these names also gets to deliver a higher relative yield but has over 35 years of consecutive dividend raises under its belt as well, a blend of both.
LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired DICK’s Sporting Goods, Inc. (“DICK’s” or the “Company”) (NASDAQ: DKS) securities between September 8, 2025 and August 24, 2026, inclusive (the “Class Period”). DICK’s Sporting Goods, Inc. investors have until November 3, 2026 to file a lead plaintiff motion.
IF YOU SUFFERED A LOSS ON YOUR DICK’S SPORTING GOODS, INC. (DKS) INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS
What Happened?
On August 25, 2026, Dick’s reported second-quarter 2026 results, including revenue of $1.73 billion from Foot Locker, falling well short of analysts’ estimates of $1.81 billion. Additionally, Dick’s reduced its net sales guidance for full-year 2026 to a range between $21.9 billion to $22.2 billion (down from $22.1 billion to $22.4 billion), and disclosed that it expected Foot Locker’s proforma comparable sales to yield a range of negative 2.0% to 0.0% for the year—down from Dick’s prior forecast of 1.5% to 3% growth.
In the related press release, Dick’s Executive Chairman of the Board of Directors Edward W. Stack disclosed that the athletic footwear marketplace had become “increasingly promotional,” which significantly impacted the Foot Locker business because of its “greater exposure to legacy footwear” and “dependence on footwear launch and retro product.”
On this news, Dick’s Sporting Goods, Inc. stock price fell $55.02 or 30.68%, to close at $124.31 on August 25, 2026, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Dicks cleanup efforts concerning Foot Lockers inventory were not complete, and, in fact, Foot Locker remained saddled with unproductive and stagnant legacy footwear; (2) Foot Locker heavily relied on legacy footwear products that were particularly vulnerable to intensifying promotional pressures across the athletic footwear industry; (3) in turn, Dicks was significantly exposed to an industry-wide environment of excess inventory and resulting promotional activity; (4) accordingly, Dicks was unable to achieve the sales growth, margins, and profits it touted to investors; and (5) as a result of the above, Defendants positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired DICK’s Sporting Goods, Inc. securities between September 8, 2025 and August 24, 2026, you may move the Court no later than November 3, 2026 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [email protected]
Telephone: 310-201-9150,
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Visit our website at www.glancylaw.com.
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If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
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New York, New York--(Newsfile Corp. - September 9, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against DICK'S Sporting Goods, Inc. (NYSE: DKS) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired DICK'S securities between September 8, 2025 and August 24, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/cases/dicks-sporting-goods-inc-dks-class_action_lawsuit.
DICK'S Case Details
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that:
following Dick's acquisition of Foot Locker, the Foot Locker business was experiencing stagnant inventory; these inventory problems adversely affected the Company's ability to achieve its sales-growth and profitability targets; accordingly, the Company's business and financial prospects were materially weaker than Defendants represented; and as a result, Defendants' positive statements concerning the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.What's Next for DICK'S Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/cases/dicks-sporting-goods-inc-dks-class_action_lawsuit, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in DICK'S you have until November 3, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
No Cost to DICK'S Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for DICK'S Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com.
"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
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LOS ANGELES--(BUSINESS WIRE)--Law Offices of Frank R. Cruz Encourages DICK's Sporting Goods, Inc. (DKS) Shareholders To Inquire About Securities Fraud Class Action.
Toyota and Rivian Adopt Stratasys' New F870™ to Accelerate Factory-Floor Manufacturing Applications at Scale Stratasys Ltd. (NASDAQ: SSYS) announced the launch of the new F870™ FDM® system, a large-format additive manufacturing platform designed for industrial manufacturers, automotive OEMs, aerospace & defense production lines, looking to scale production on the factory floor.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260909980551/en/
Stratasys F870™ FDM® system, a large-format additive manufacturing platform designed for industrial manufacturers, automotive OEMs, aerospace & defense production lines, looking to scale production on the factory floor.
Extending the Stratasys production-grade FDM portfolio, the F870 combines unrivaled large-format capabilities in a heated chamber backed by a suite of the strongest, most durable materials, all with a lower total cost of ownership so manufacturers can expand additive across manufacturing applications. Manufacturers increasingly demand larger, production-ready systems capable of producing tooling, fixtures, manufacturing aids and end-use parts at the size, throughput, and reliability needed for factory-floor deployment. The F870™ FDM® machine addresses this need.
Systems are currently being adopted by leading manufacturers, including Toyota Production Engineering in Georgetown, Kentucky, and Rivian Automotive in Plymouth, Michigan. These organizations are assessing the platform across a range of applications, from factory-floor tooling and manufacturing aids to advanced prototyping workflows, ahead of commercial availability.
Early deployments address customer needs for automotive tooling, manufacturing aids, and other production-support applications, including large fixtures, assembly tools, and inspection gauges that traditionally require lengthy machining lead times.
"Manufacturers are looking for proven solutions to speed up production, reduce cost, and respond in real-time to ever-changing supply chain and manufacturing requirements," said Rich Garrity, Chief Business Unit Officer, Stratasys. "The F870 is a very unique solution, demonstrating our advanced manufacturing expertise and our deep understanding of customer demand for additive manufacturing solutions that produce larger tooling, fixtures, and manufacturing aids on the factory floor. The new platform is geared towards real manufacturing environments, delivering our leading industrial-scale capabilities with increased build capacity, combined with Stratasys’ proven materials, and production reliability at a competitive price-point."
"We've already seen the value Stratasys additive manufacturing can deliver," said Dallas Martin, Additive Manufacturing Engineer at Toyota North America. "The next challenge is expanding its use across more applications. The F870's combination of build size, material performance and industrial features aligns with the kinds of manufacturing needs we're looking to address."
Designed for production-support applications, the F870 features a build volume of 1000 x 610 x 610 mm (39.4 x 24 x 24 in.) and combines the market's longest build capacity in a fully heated chamber with a portfolio of industrial-grade materials, including Nylon 12CF™, ASA, ABS and the new FDM® ABS Draft (Gray). In particular, Nylon 12CF Carbon Fiber provides the strength, stiffness and durability required for demanding manufacturing-floor tooling and fixture applications. The platform enables manufacturers to produce larger tooling, fixtures, manufacturing aids and end-use parts with the repeatability, durability and throughput required for factory-floor deployment.
Built on Stratasys' industrial FDM® foundation, the F870 expands Stratasys's portfolio of production-focused additive manufacturing solutions, helping manufacturers reduce production costs, improve responsiveness and scale additive manufacturing across manufacturing operations.
Experience the F870 at IMTS 2026
Stratasys will showcase the new F870 platform and other manufacturing-focused innovations at IMTS 2026, Booth 338460, South Hall, Chicago, September 14–19, 2026.
To learn more about the F870, visit https://www.stratasys.com/en/3d-printers/printer-catalog/fdm-printers/f870-printer/ or stop by the booth at IMTS.
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About Stratasys
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries including aerospace, automotive, consumer products, and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage of the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, X/Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including Stratasys’ websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements are based on current information that is, by its nature, subject to potential change, due to risks and uncertainties faced by the Company, including those risks described in Item 3.D “Key Information - Risk Factors” of Stratasys’ annual report on Form 20-F for the year ended December 31, 2025, which Stratasys filed with the SEC on March 6, 2026, and in other reports and documents that Stratasys files with or furnishes to the SEC from time to time, which are designed to advise interested parties of the risks and factors that may affect Stratasys’ business, financial condition, results of operations and prospects. Any forward-looking statements made in this press release are made as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Coursera (NYSE: COUR), a leading global online learning platform, today previewed its new AI-native skills platform, code-named Project Helix, at its annual FWD customer event. The adaptive platform is designed to help organizations close talent gaps, accelerate time-to-proficiency, and translate learning investments directly into verified workforce capability. Project Helix represents a significant milestone for the company toward building a completely reimagined product offering after Coursera combined with Udemy in May 2026.
Today, business leaders face a critical mandate: turning AI opportunity into a force multiplier that expands productivity and innovation across their workforce. Traditional enterprise learning models consisting of fragmented point solutions and catalog volume with a focus on course completions are no longer sufficient. Success now requires a new capability-building model that is grounded in real-time skills insights, personalized learning paths, verified readiness, and continuous skill tracking, all at enterprise scale.
“The next era of enterprise learning depends on moving from standalone content to connected journeys that support skill development, application, and proof,” said Greg Hart, CEO of Coursera. “Organizations need a trusted, scalable way to turn AI into an engine of workforce capability. With Project Helix, we are building a true foundation for skills development that starts with the customer’s business goals, identifies critical skill needs, and delivers adaptive learning with verified evidence of proficiency and application against the skills that matter most.”
Project Helix is being built upon the unique strengths of Coursera and Udemy while integrating skills intelligence, AI-powered guidance, and proof of capability, to deliver what enterprises care about:
Building skills aligned to business priorities: Leaders and learners can articulate goals in natural language to instantly generate adaptive learning paths drawn from universities, industry-leading institutions, and real-world practitioners across Coursera and Udemy’s combined ecosystem of more than 30,000 global content partners and instructors. Accelerating application with personalization: The platform will suggest tailored learning experiences across a variety of modalities based on a learner’s goal, role, and demonstrated capability, and informed by the latest labor market signals and the organization’s own data and skill definitions. Continuous, personalized feedback and adaptive practice will help learners move rapidly, from basic comprehension to mastery. Bringing learning into one skills stack and embedding it in everyday work: By consolidating learning, credentials, and skills intelligence into a single connected platform, organizations can help reduce the need for redundant point solutions, leverage their existing infrastructure investments, and build capability directly within everyday workflows. Proving skills growth and workforce readiness: To help translate skills into actual performance, the platform is designed to combine continuous assessment, practical observation, and recognized credentials. Our goal is to help ensure earned proof flows into a portable skills record — a trusted, interoperable portfolio of capabilities to track skills freshness and inform talent decisions. “Our customers need to rapidly reduce the lag between ‘knowing’ and ‘doing,’ ensuring their employees can actively develop and apply skills aligned to changing business priorities,” said Patrick Supanc, Chief Product Officer of Coursera. “With Project Helix, we’re ushering in a new era of workforce development that relies on a compounding system of trust, data, and engagement as well as AI guidance and verified proof. It will empower companies to manage an entire learning lifecycle that continuously measures expertise, adapts to evolving business needs, and provides leaders with true visibility into workforce readiness.”
Coursera is working with a select group of partners and customers to help shape Project Helix to address the evolving challenges organizations and their workforces face.
“As skill needs change faster than ever, companies need a more connected way to identify priorities, develop their people, and understand whether learning is translating into capability,” said Rajah Swamidoss, Associate Director of Learning at Flipkart, India’s leading e-commerce marketplace. “We’re excited about how Project Helix brings together agentic learning with capability signals to better align organizations’ strategic goals with the skills their teams need.”
Project Helix will complement ongoing product development as Coursera and Udemy continue to build and introduce new features across both current platforms. It will bring together critical elements of the existing product roadmap while creating a new, unified experience for global customers. The platform is expected to be broadly available to enterprise customers in the first half of 2027.
To see a preview of Project Helix and learn about other new features on Coursera and Udemy, view here.
About Coursera
Coursera was launched in 2012 by Andrew Ng and Daphne Koller with a mission to provide universal access to world-class learning. Coursera partners with leading university and industry partners to offer a broad catalog of content and credentials, including courses, Specializations, Professional Certificates, and degrees. Coursera’s platform innovations — including AI-powered personalized guide and features, like Role Play and Course Builder, and role-based solutions like Skills Tracks — enable instructors, partners, and companies to deliver scalable, personalized, and verified learning. Institutions worldwide rely on Coursera to upskill and reskill their employees, students, and citizens in high-demand fields such as GenAI, data science, technology, and business, while learners globally turn to Coursera to master the skills they need to advance their careers. Coursera is a Delaware public benefit corporation and a B Corp. Coursera recently combined with Udemy to create one of the world’s most comprehensive skills development platforms. Together, the Coursera and Udemy platforms reach more than 300 million learners and 12,000 enterprise customers worldwide.
About Udemy
Udemy is an AI-powered skills acceleration platform transforming how companies and individuals across the world build the capabilities needed to thrive in a rapidly evolving workplace. By combining on-demand, multi-language content with real-time innovation, Udemy delivers personalized experiences that empower organizations to scale workforce development and help individuals build the technical, business, and soft skills most relevant to their careers. Today, thousands of companies, including Samsung SDS America, On24, Tata Consultancy Services, The World Bank, and Volkswagen, rely on Udemy Business for its enterprise solutions to build agile, future-ready teams. Udemy is headquartered in San Francisco, with hubs across the United States, Australia, India, Ireland, Mexico, and Türkiye. Udemy recently combined with Coursera to create one of the world’s most comprehensive skills development platforms.
Special Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding the development, capabilities and expected availability of Project Helix and the anticipated benefits of the Coursera-Udemy combination. These statements involve risks and uncertainties that could cause actual results to differ materially, including risks relating to the development, timely launch and market adoption of Project Helix; the integration of Coursera and Udemy and realization of anticipated benefits and synergies; and the other risks described in Coursera’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission (SEC). Coursera undertakes no obligation to update forward-looking statements except as required by law.
The U.S. Third Circuit Court of Appeals reversed a key New Jersey water permit for U.S. energy company Williams Cos' (WMB.N) long-delayed Northeast Supply Enhancement (NESE) natural gas pipeline project in Pennsylvania, New Jersey and New York.
The court said in a ruling on Tuesday that it granted petitions by environmental groups, vacated the Water Quality Certification and remanded the case to the New Jersey Department of Environmental Protection (NJDEP).
A coalition of environmental groups filed a lawsuit last November against the NJDEP for unjustifiably approving the certification for NESE, after first rejecting the project in 2019 for failure to demonstrate compliance with state water quality standards.
“When the water quality certificate was denied in 2019, that should have been the end of it," said Charlie Kratovil, Central Jersey Organizer at Food & Water Watch, one of the environmental groups opposing the project.
Officials at Williams were not immediately available for comment.
NESE is a roughly $1 billion project under construction by Williams' Transcontinental Gas Pipe Line Co (Transco) unit that would expand the existing Transco gas pipe. NESE includes the construction of an offshore pipe in the Raritan Bay between New Jersey and New York.
The environmental groups contended that the underwater segment would require dredging the bay floor, stirring up sediment containing toxic contaminants like mercury and PCBs (Polychlorinated biphenyls), which could pose risks to human health and marine habitats.
Williams officially broke ground on NESE in Brooklyn, New York, in April 2026.
In addition to NESE, Williams is also developing another long-delayed gas pipe in the region, Constitution Pipeline from Pennsylvania to New York.
Both projects were controversial in part because they were previously rejected by state environmental regulators and canceled by Williams in past years before U.S. President Donald Trump sought their revival after returning to office in 2025.
Williams canceled Constitution in 2020 and NESE in 2024 after years of fighting for permits, especially water permits, from state regulators in New York and New Jersey.
In May 2025, the Trump administration used New York's reconsideration of Williams' proposed gas pipes in the state as part of a deal with New York Governor Kathy Hochul to lift a federal ban on construction of Norwegian energy firm Equinor's (EQNR.OL) Empire Wind offshore wind farm off New York.
Hochul did not agree to approve either pipe project but said the state would work with the U.S. administration and private entities on projects that meet the legal requirements under New York law.
Williams said on its website that it targeted completion of NESE in the fourth quarter of 2027 and Constitution in the fourth quarter of 2028.
NESE is designed to move around 0.4 billion cubic feet per day (bcfd) of gas from Pennsylvania, across New Jersey and into New York.
Constitution, which is not under construction, is designed to move around 0.65 bcfd of gas from Pennsylvania to New York.
One billion cubic feet of gas is enough to supply around five million U.S. homes for a day.
Polkadot’s governance is currently reviewing a proposal to introduce dotUSD, a decentralized stablecoin designed to serve as the network’s main stable-value instrument. This initiative aims to create a protocol-native asset that could play a critical role in the platform’s evolving decentralized finance (DeFi) ecosystem.
Phased deployment and initial liquidity backingThe proposal sets out a two-phase approach for the stablecoin’s deployment. In the first phase, dotUSD would be launched as a protocol asset, with a liquidity pool created on Asset Hub, Polkadot’s platform for cross-chain assets. The current referendum mentions $1.5 million in USDT and $1.5 million in DOT to seed this pool, although the original proposal also cites figures as high as $2.5 million for each asset.
Presently, Polkadot’s applications and treasury activities depend largely on external stablecoins. The introduction of dotUSD is expected to lessen this need, granting Polkadot users the ability to access a dollar-pegged asset while leveraging DOT as collateral. This change would allow participants to reduce their exposure to price volatility associated with DOT, streamlining budgeting and payment functions directly on the network.
With dotUSD positioned as the network’s official stablecoin, Polkadot’s treasury and DeFi services could operate with reduced reliance on external issuers while deepening on-chain liquidity.
Mechanics and stability measures of dotUSDThe dotUSD stablecoin would operate under an over-collateralized model, inspired by the Liquity v2 protocol. In the second phase, users would be able to deposit DOT into vaults and mint dotUSD, with the borrowed amount strictly below the value of locked collateral. This design is intended to maintain a one-to-one peg to the US dollar.
To support the value peg and manage declining collateral value, the system incorporates liquidation processes, a dedicated stability pool, and redemption mechanisms. One distinguishing feature is the introduction of borrower-selected interest rates. Rather than relying on a fixed protocol-wide rate, borrowers can choose their own rates, affecting their place in the redemption queue if dotUSD dips below its peg. Lower-rate loans would be prioritized for redemption, while borrowers opting for higher rates may face less risk of early liquidation, creating a market-based credit curve for DOT-backed debt.
Mini dictionary: Liquity v2 is a decentralized borrowing protocol that enables users to mint stablecoins against over-collateralized positions, using a system of stability pools and fully automated liquidations to maintain peg stability and minimize governance.
In the project’s first phase, dotUSD circulation would be maintained through a capped buffer backed exclusively by USDT, avoiding immediate dependence on oracles or DOT liquidations. The second phase, once risks are evaluated, would incorporate DOT-backed vaults, real-time oracle usage for price data, and expanded stability mechanisms.
PhaseCollateral BackingPool SizeKey FeaturesPhase OneUSDT$1.5M USDT + $1.5M DOT (referendum)No oracles or DOT liquidationPhase TwoDOTProposed $2.5M USDT + $2.5M DOTDOT-backed vaults, stability pool, oracle integrationRisk management and economic outlookA central concern outlined in the proposal is the potential reflexivity between DOT and dotUSD. Significant drops in DOT’s price could trigger widespread liquidations, increasing sell pressure on the token supporting the stablecoin. To address this, the design introduces stability pool protections, redistribution mechanics, and a capped stablecoin buffer to limit forced DOT sales during volatile periods.
Polkadot’s governance stresses that dotUSD would serve as a strategic piece of economic infrastructure for the network, enabling dollar-based budgeting and payments within the protocol’s expanding DeFi landscape. The establishment of a liquidity pool on Asset Hub is expected to improve accessibility for decentralized applications and support broader use cases.
By approving this proposal, Polkadot aims to strengthen its treasury, offer stable payment options, and foster greater liquidity for its ecosystem’s growth.
Pending approval via governance voting, the dotUSD initiative could mark a significant step for Polkadot, offering a stable, protocol-native value instrument and paving the way for more resilient decentralized financial services.
Polkadot rose 16.7% on the day and 42.5% on the week, with Cosmos Hub, Decred and Ethereum Classic all up more than 8%, while bitcoin ended the first U.S. session since Labor Day down 0.83% at $78,539. Polymarket traders raised the odds of a quarter-point Federal Reserve increase next week to 54.5%, a third consecutive session of widening. Brent crude settled at $99.31, its highest close since July 23.
A group of layer-1 tokens that launched before 2018 carried Tuesday's crypto tape while bitcoin and ether finished lower, and traders extended their bet that the Federal Reserve raises rates next week.
Only one of those tokens has a dated event behind it. Polkadot holders are voting on a proposal to give the network its own stablecoin, submitted to OpenGov on Monday and running 97.5% in favor. Cosmos Hub, Decred and Ethereum Classic produced no filing, release or governance action in the window, and the four moved together on a week when bitcoin gained 1.6%.
Bitcoin last changed hands at $78,539, down 0.83% over 24 hours and up 1.6% over seven days, after trading between $77,666 and $79,432, CoinGecko data shows. Ether was at $2,484.83, down 0.29% on the day and up 2.8% on the week. XRP rose 1.53% to $1.42; Solana fell 0.59% to $103.24; BNB gained 1.66% to $751.92 and holds a 10.5% weekly advance. Total crypto market value stood at $2.70 trillion on $91.54 billion of volume, with bitcoin dominance at 58.36%. Fifty-seven of the 125 largest non-stablecoin tokens rose and 66 fell.
A Round TripBitcoin peaked at $79,432 shortly after 10 p.m. ET Monday, during Tokyo's morning, and sold off through the European session. The 24-hour low of $77,666 came in the 10 a.m. ET hour. It recovered to $78,833 by midday and gave that back through the afternoon, ending the U.S. session near where it opened.
The token is 37.7% below the $126,080 record it set in October 2025.
The Crypto Fear & Greed Index read 69 on Tuesday, down from 71 on Monday and 74 on Sept. 4, according to Alternative.me. It has read above 60 every day since Aug. 29.
Polkadot Wants A StablecoinPolkadot rose 16.7% to $1.25 and 42.5% over seven days, a second consecutive double-digit day after Monday's 13.85% gain, on $420 million of volume against a $2.13 billion market value. It is the largest weekly gain among the 50 biggest tokens.
The proposal driving it went on-chain at 11:49 a.m. ET Monday. OpenGov Referendum 1944, "dotUSD: A Native Stablecoin for Polkadot," sits on the Root track and is in its deciding period. "This proposal signals the intent of the DAO to introduce dotUSD, Polkadot's native stablecoin, as the protocol's primary stable-value instrument," the text reads.
The referendum lists seven actions, among them creating the dotUSD asset "owned by the protocol," opening a DOT-dotUSD liquidity pool on Asset Hub, designating dotUSD a sufficient asset and setting peg stability module parameters. It commits treasury funds: "$2.5M in USDT will be used to mint dotUSD and $2.5M in DOT will be allocated initially to the pool."
The Polkadot Community Foundation submitted it and disclaims operational control. "dotUSD is a decentralized, protocol-native stablecoin project," the text reads. "It would have no issuer and would instead operate autonomously via on-chain logic."
Voting stands at 2,343,074 DOT in favor against 59,896 opposed, with 558,519 DOT of support against an electorate of 1.67 billion DOT. A second referendum, 1942, upgrading system chains to runtime 2.5, went on-chain Sept. 5 and is also deciding.
No U.S. product filing accompanies the move. EDGAR full-text search returns one document mentioning Polkadot between Sept. 1 and Sept. 8, a Canary Staked TRX ETF prospectus that uses the word in passing. Polkadot's own account has posted nothing about dotUSD.
The Old Guard MovesTokenPrice24h7dPolkadot (DOT)$1.25+16.7%+42.5%Cosmos Hub (ATOM)$1.83+10.8%+23.3%Decred (DCR)$17.30+9.4%+19.4%Ethereum Classic (ETC)$8.60+9.3%+18.3%Cosmos Hub, Decred and Ethereum Classic rose alongside Polkadot without a dated catalyst.
The Cosmos Hub's most recent governance proposals, 1052 and 1053, were submitted Aug. 25 and finished voting Sept. 1. Decred's last substantive release is the v2.1.6 consensus security patch from late August; its account's most recent post, dated Sept. 7, is a marketing message. Ethereum Classic's core-geth has not shipped a release since Hermes v1.12.22 on March 28, and the project's repositories show no September activity. None of the three appears in Binance's listing announcements for Sept. 4 through Sept. 8.
VeChain added 10.6% to $0.008006 and 19.5% over seven days. Its Aug. 6 post on the Interstellar upgrade and its Aug. 24 statement that the VIP-255 vote passed give no mainnet activation date.
Hike Odds Reach 54.5%Traders widened their bet on tightening for a third session. Polymarket put a quarter-point increase at 54.5% and no change at 45.5% on $104.6 million of volume. The same contracts read 52.5% and 45.5% at midday Tuesday, 50.5% and 49.5% on Monday, and 30.5% and 67.5% on Aug. 24. A quarter-point cut trades at 0.45%. The Federal Open Market Committee meets Sept. 15-16, one of the four meetings a year that carries a Summary of Economic Projections.
Friday's labor data set the direction. The Bureau of Labor Statistics reported that "total nonfarm payroll employment increased by 162,000 in August, and the unemployment rate was unchanged at 4.1 percent", with June and July revised up by a combined 55,000. August producer prices publish Sept. 10 and consumer prices Sept. 11, both at 8:30 a.m. ET, the last two federal releases before the committee meets.
Brent Closes Near $100Brent crude settled at $99.31 a barrel, up 3.15% from Friday and its highest close since July 23, when it ended at $100.69. West Texas Intermediate rose 3.03% to $94.25. The yen traded at 153.97 per dollar, its firmest since Feb. 18, and the dollar index fell 0.31% to 98.85.
"Higher oil prices on the back of continued geopolitical escalations between the US and Iran and a rally in the Japanese yen to a 7-month high have taken the spotlight in the past 24 hours," Thahbib Rahman, research analyst at Block Scholes, wrote in a note emailed to reporters on Tuesday. "Both events weighed on risk assets across US equity markets and crypto markets alike."
Rahman said options positioning has not followed spot lower. "While not near the highs of mid-August and early September, after the US Treasury's bond interventions and Fed Governor Waller's dovish speech, short-dated BTC put-call skew remains tilted towards call options," he wrote. "This means investors are leaning more bullish than bearish and is an indication that traders are willing to pay more for upside exposure to spot price than downside protection."
U.S. equities closed lower. The S&P 500 fell 0.58% to 7,673.52 and the Nasdaq Composite 0.32% to 26,421.41. The 10-year Treasury yield rose to 4.81% and the 30-year to 5.26%. Gold futures fell 0.67% to $4,400 an ounce.
Zcash Gets OptionsZcash rose 0.82% to $1,166.37 and 39.2% over seven days after touching $1,210.35, holding tenth place at a $19.73 billion market value, above Hyperliquid at $18.79 billion and Dogecoin at $14.01 billion. It remains 63.4% below the $3,191.93 record set on Oct. 28, 2016.
Grayscale said on Tuesday that "$ZCSH, the world's first Zcash fund, is now available for options trading on @NYSE." The post links to the fund's prospectus and does not name the options venue; the shares list on NYSE Arca, and NYSE American Options and NYSE Arca Options are separate venues. No exchange listing notice or SEC rule filing corroborating the options listing was retrievable, and the most recent document under the trust's EDGAR record is the Aug. 25 prospectus.
The fund completed its uplisting from OTCQX to NYSE Arca on Aug. 25 under the ticker ZCSH, registering the shares through a Form 8-A12B filed Aug. 24 and changing its name to The Zcash ETF the same day. Grayscale's fund account said on Sept. 4 that ZCSH "just crossed $400,000,000 in AUM." The Defiant covered the original conversion filing in November 2025.
Monero fell 4.3% to $497.42 after trading as high as $525.33, and is down 0.7% over seven days against Zcash's 39.2%. Monero's official blog has published nothing since the July 21 GUI release, and no Monero item appeared on the announcement pages of Binance, Kraken, OKX or Bithumb on Monday or Tuesday. The token has no U.S. listed vehicle.
Injective Lists TwiceInjective rose 5.25% to $6.45 and 33.8% over seven days after trading 12.7% higher at midday, on $190 million of volume against a $650 million market value.
Three dated announcements sit behind it. Injective said on Tuesday that "native USDC on Injective is now live on @krakenfx," allowing deposits and withdrawals of the stablecoin directly between the exchange and the chain. On Monday it said that "$INJ is now live on @RobinhoodCrypto"; Robinhood's own asset page lists the token as tradable without stating a date. Also on Monday, the project said that "over 58.8 Million INJ tokens are now staked onchain," which it called a record. Injective's public node reported 58,461,008 INJ bonded against a total supply of 122,781,894, or 47.6%, slightly below the figure the project gave. INJ trades 87.7% below the $52.62 record it set in March 2024.
The chain's most recent blog post, dated Sept. 4, says Pineapple Financial has moved more than $1 billion in residential mortgage records onto Injective.
Korea Bids UselessUseless Coin gained 24% to $0.2791 on $174 million of volume, against a $279 million market value, after two Korean exchanges opened trading in it on Tuesday.
Bithumb's market list carries a KRW-USELESS pair whose hourly candles begin at 1 a.m. ET. Upbit's market list carries BTC and USDT pairs whose candles begin at 8 a.m. ET, with the USDT pair flagged for price volatility and cross-venue price gaps; Upbit did not open a won pair. The listings account for Tuesday's move. The 138.5% seven-day gain predates both, and no project statement covering that period is available.
Venice Token led the day at 30.2%, reaching a record $25.49 before easing to $24.18 and a $1.15 billion market value on $177 million of volume. The most recent post on the Venice blog is dated July 17, carrying an Aug. 5 update that cuts VVV emissions to 2.5 million a year on Sept. 1 and to 2 million on Oct. 1, and raises the DIEM supply target to 40,000 on Sept. 14. Those dates were set five weeks ago. The project's changelog has not been updated since July 30.
Falcon Finance rose 25.6% to $0.1495 and 51.9% over seven days. Its most recent blog post is dated Aug. 31 and its account's Sept. 8 posts respond to the price rather than explain it. Pons added 17.7% to $0.8265 and 93.8% over seven days; Uniswap Labs bought PONS tokens on Sept. 3.
ETFs Skip A SessionU.S. spot bitcoin and ether ETF flows for Tuesday had not published as of 5 p.m. ET. The last completed session is Friday, when bitcoin funds took in $174.6 million and ether funds $25.9 million, according to Farside Investors. BlackRock's IBIT accounted for $117.4 million of the bitcoin total and Fidelity's FBTC $57.2 million; among ether funds, BlackRock's two products drew $74.2 million while Fidelity's FETH lost $48.3 million. No row exists for Monday, when U.S. markets were closed for Labor Day, which means Monday's altcoin advance ran with the ETF and equity markets shut.
DeFi total value locked stood at $87.94 billion, down 0.7% over 24 hours and up 1.57% over seven days, DefiLlama data shows. Stablecoin supply was $311.71 billion, down 0.1% on the day, up 0.49% over seven days and 1.35% over 30 days.
Hyperliquid fell 0.79% to $84.50 and trades 5.7% below the $89.60 record it set on Sept. 6. Its account has posted nothing since Aug. 31. WhiteBIT Coin rose 6.16% to $81.35 and 14.3% over seven days after touching a record $81.98 at 12:40 p.m. ET; its blog has published nothing since July 28.
Venice Takes The DayTokenPrice24h7dVenice Token (VVV)$24.18+30.2%+48.9%Falcon Finance (FF)$0.1495+25.6%+51.9%Useless Coin (USELESS)$0.2791+24.0%+138.5%Pons (PONS)$0.8265+17.7%+93.8%Polkadot (DOT)$1.25+16.7%+42.5%Cosmos Hub (ATOM)$1.83+10.8%+23.3%VeChain (VET)$0.008006+10.6%+19.5%Decred (DCR)$17.30+9.4%+19.4%Ethereum Classic (ETC)$8.60+9.3%+18.3%Akedo Gives It BackTokenPrice24h7dRibbita by Virtuals (TIBBIR)$0.2055-10.8%-14.8%Akedo (AKE)$0.01575-8.6%+76.7%Unibase (UB)$0.1207-7.9%+2.4%Monad (MON)$0.02582-5.9%-0.4%Pudgy Penguins (PENGU)$0.008108-5.1%-4.5%Kite (KITE)$0.1135-4.8%-8.1%Arweave (AR)$2.84-4.8%+24.5%Hedera (HBAR)$0.07895-4.6%+6.8%Akedo traded 21% higher at midday before ending 8.6% lower. It holds a 76.7% weekly gain.
Hedera was the largest token among the decliners at a $3.46 billion market value, and is still up 6.8% over seven days. Its most recent blog post, dated Sept. 4, covers new council partners, and its Tuesday statements concern an insurance consortium building on the network. Monero's 4.3% decline falls just outside the table.
Prices and market data as of 5:11 p.m. ET on Sept. 8, 2026.
While Bitcoin and Ether spent Tuesday treading water or drifting lower, a curious cohort of older layer-1 tokens quietly stole the show. Polkadot led the charge with gains between 7% and 20% in a single session, a move driven by a cocktail of short squeezes, spiking on-chain activity, and governance proposals that are actively reshaping its token economics.
Traders are increasingly pricing in a Federal Reserve rate hike at the mid-September meeting, with the probability now sitting around 58% after August’s jobs report came in hotter than expected.
What’s driving DOT’s breakout A derivatives short squeeze played a starring role, triggering over $610K in liquidations for DOT positions. When shorts get squeezed, forced buying amplifies upward momentum, and that’s exactly what happened here.
On-chain activity surged in parallel. Daily network usage jumped by roughly 150%, tied to the launch of a new devnet that brought developers and users back to the ecosystem.
Polkadot holders have been voting on several significant referenda that directly impact the token’s supply dynamics. Proposals #1909 and #1910 focused on adjusting staking parameters and validator incentives. Referendum 1926 directed revenue from JAMKB-related DOT sales to be permanently burned. Burning tokens reduces circulating supply, and when paired with Polkadot’s hard cap of 2.1 billion DOT and already-reduced inflation rates, the math starts to look meaningfully different for holders.
The legacy layer-1 rotation Polkadot wasn’t entirely alone on Tuesday’s leaderboard. A handful of layer-1 tokens that launched or were conceptualized before 2018 carried the day’s crypto tape while the two largest assets by market cap went the other direction.
Bitcoin posted a slight decline of up to -0.52%. Ether finished lower as well.
The macro overhang August’s jobs data landed with a thud for anyone hoping the Fed was done hiking. The economy added 162,000 jobs while the unemployment rate held steady at 4.1%.
The market is now assigning roughly 58% odds to a 25 basis point hike at the Fed’s upcoming mid-September meeting.
What to watch from here The sustainability of this rotation hinges on whether Polkadot’s governance proposals actually deliver on their deflationary promise. If the JAMKB burns are meaningful relative to new issuance, the supply squeeze could create a structural bid for DOT over the coming months.
The $610K in DOT short liquidations is a relatively modest number in the grand scheme of crypto derivatives. But it was enough to catalyze a 20% move, which tells you something about how thinly positioned the market was.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Polkadot’s governance system is in the process of deciding whether the network should mint its own US dollar-pegged stablecoin, and the vote isn’t exactly close. Referendum #1944, which proposes creating a decentralized stablecoin called dotUSD, has attracted 97.5% support from voters so far, with roughly 2.31 million DOT cast in favor against just 59,900 opposing votes.
The proposal calls for $5 million in initial liquidity, split evenly between $2.5 million in USDT for minting the stablecoin and $2.5 million in DOT allocated to a liquidity pool. If approved, dotUSD would become the default stable-value instrument across Polkadot’s ecosystem, a move designed to cut the network’s dependence on third-party stablecoins like USDT and USDC.
How dotUSD would actually work dotUSD would be an over-collateralized stablecoin primarily backed by DOT, Polkadot’s native token. The liquidity pool would pair USDT with DOT on Asset Hub, giving dotUSD holders a pathway to swap in and out of the stablecoin. Over-collateralization means more DOT is locked up than the dollar value of dotUSD minted, providing a buffer against price drops in the underlying asset.
This is a protocol-level decision, not a private company launching a product. The proposal is moving through Polkadot’s OpenGov system on the Root track, which handles the network’s most consequential governance decisions. Contributions backing the initiative come from builders within the Polkadot ecosystem itself.
Polkadot’s second stablecoin attempt This isn’t actually Polkadot’s first crack at a native stablecoin. A previous proposal for a DOT-backed stablecoin called pUSD secured over 75% support earlier in 2025, with more than $5.6 million in DOT committed to the effort.
The referendum is currently in its deciding phase, meaning the vote has passed the initial support threshold and is now running through the full decision period required by OpenGov’s rules.
Why this matters for Polkadot’s DeFi ambitions Polkadot’s DeFi sector has historically been smaller than its peers, partly because the network’s architecture, built around specialized parachains, fragments liquidity across multiple chains. A protocol-owned stablecoin could serve as connective tissue, giving traders and developers a single stable asset that works natively across the ecosystem without relying on Circle or Tether to maintain bridge infrastructure.
External stablecoins carry counterparty risk. If Tether or Circle ever restricted access to their tokens on Polkadot, the ecosystem would have no fallback. dotUSD, backed by DOT sitting in Polkadot’s own smart contracts, removes that single point of failure.
An over-collateralized stablecoin backed primarily by DOT means the stablecoin’s health is tethered to DOT’s price performance. A severe and prolonged decline in DOT could strain the collateral ratio, potentially requiring liquidations or additional capital injections to maintain the peg.
The $5 million initial liquidity figure is modest by industry standards. For comparison, DAI’s total supply sits in the billions, and even smaller ecosystem stablecoins typically launch with larger war chests.
If dotUSD gains traction, it creates persistent demand for DOT as collateral. Every dollar of dotUSD minted requires more than a dollar’s worth of DOT locked up, effectively removing supply from circulation.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Project World is continuously optimizing its front-end UI, with user deposits secure and transactions functioning normally.
World, a full on-chain prediction market in the Solana ecosystem, announced in a post that its website is currently experiencing high traffic, with over 1 million users accessing the platform. User deposits remain secure, platform transactions are executing normally, and backend systems are operating as expected. The team is continuing to optimize the frontend user interface, and the overall operation of the platform is in good condition.
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Iranian officials announced that Iran will escalate its crackdown operations in response to U.S. attacks.
Iranian officials have stated that Iran will escalate its retaliatory strikes in response to the U.S. attack. (Jinshi)
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US Treasuries extended their decline after the repurchase announcement, with the market viewing the $6 billion cap as insufficient.
The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
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Eric Trump mocks Joe Biden’s son Hunter Biden over the botched launch of the LAPTOP token, saying he should go back to painting.
US President Donald Trump’s second son Eric Trump reposted a post about the meme coin LAPTOP’s sharp price crash after its launch, commenting: “Hunter should go back to painting.” His remarks target Hunter Biden, son of former US President Joe Biden, who launched the meme coin LAPTOP. The reposted post notes that LAPTOP plummeted 98% within minutes of going live, adding that the project had originally planned to allocate a portion of its tokens to users who incurred losses from TRUMP-related transactions.
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Solana ecosystem prediction market World officially launches, opening to over 1 million waitlist users.
Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.
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Bubblemaps: 80% of LAPTOP traders are losing money, with two traders suffering losses ranging from $100,000 to $1 million.
Bubblemaps posted that profit and loss data for LAPTOP traders shows roughly 80% of participants are in the red, describing the token’s market performance as a "bloodbath". Specifically, two traders lost between $100,000 and $1 million, 100 lost over $10,000, 700 lost more than $1,000, and around 11,000 traders posted small losses. Bubblemaps did not further disclose the statistics’ time frame or the scope of the wallet sample used.
Polkadot’s community has opened a governance vote on a native decentralized stablecoin called dotUSD, with a proposal to make the dollar-pegged asset the network’s primary stable-value instrument and eventually back it mainly with DOT.
Summary
Polkadot OpenGov is voting on a proposal to create dotUSD as the network’s native decentralized stablecoin. The plan calls for $5 million in initial DOT and USDT liquidity for a DOT and dotUSD pool. dotUSD would initially be minted against USDT before a second phase introduces DOT backed vaults, liquidations and redemptions. The full system would let users lock DOT to mint dotUSD while using on chain mechanisms to maintain its dollar peg. According to OpenGov Referendum 1944, the proposed stablecoin would be owned by the protocol and operate autonomously through on-chain logic, without a centralized issuer. The proposal was drafted with contributions from builders, developers and other participants in the Polkadot ecosystem.
The proposal remains in the decision stage at the time of writing. Its implementation would create dotUSD as a new asset, recognize it as the Polkadot stablecoin and establish a DOT/dotUSD liquidity pool on Polkadot Asset Hub.
An archived Polkassembly snapshot showed 2.4 million DOT voting in favor and 59,900 DOT against, equivalent to 97.5% Aye and 2.5% Nay at that point in the vote. The archive cautioned that the figures were frozen while the referendum was still in progress and may not represent the eventual on-chain result.
Polkadot proposes phased launch for dotUSD Under the plan, dotUSD would initially operate differently from the full DOT-backed system envisioned by its developers.
The first phase has already been built on-chain and would allow users to mint dotUSD one-for-one against USDT, subject to a supply cap. Since USDT would provide the reserve backing at this stage, the system would not require an oracle, collateral vaults or liquidation infrastructure.
The proposal seeks to use Polkadot Treasury assets to seed a DOT/dotUSD pool on the Hub decentralized exchange. The version submitted with the referendum allocated $2.5 million in USDT to mint dotUSD and another $2.5 million worth of DOT to the pool, giving it $5 million in initial liquidity.
A more recent version displayed on Subsquare lists $1.5 million in USDT and $1.5 million in DOT for the initial pool, reducing the proposed allocation to $3 million.
dotUSD would be designated a “sufficient asset,” allowing an account to hold the stablecoin without having to maintain a DOT balance. Governance would set parameters for the peg stability module, including the maximum amount of dotUSD that could initially be minted.
Phase two would move dotUSD toward its intended design by introducing DOT-backed collateral vaults, an oracle, a stability pool, liquidations and a redemption mechanism. The proposal describes dotUSD as an overcollateralized stablecoin whose architecture draws heavily from Liquity v2’s BOLD system.
Plans for a DOT-backed stablecoin have been under consideration for more than a year. As crypto.news previously reported in July 2025, Polkadot co-founder Gavin Wood disclosed work on a fully decentralized stablecoin during the Web3 Summit and said a treasury proposal was being prepared to bootstrap its liquidity.
How would the DOT-backed dotUSD system work? Once the second phase is implemented, users would deposit DOT into vaults and borrow dotUSD worth less than the collateral they provided.
The proposal gives an example of 300 DOT priced at $5 each, producing $1,500 in collateral. A user could mint up to $1,000 of dotUSD against the position, corresponding to a collateralization ratio of 150%. If the value of the DOT falls far enough to breach the required collateral ratio, the vault would become eligible for liquidation.
Borrowers would set the interest rates they pay on their own positions. Lower rates would place a vault earlier in the redemption queue, while borrowers willing to pay higher rates could reduce the chance that their collateral is selected for redemption.
Two arbitrage routes are intended to keep dotUSD close to $1. When the stablecoin trades above its peg, users could lock DOT, mint dotUSD and sell it at the higher market price, increasing supply. If dotUSD falls below $1, traders could buy it at a discount and redeem it through the protocol for $1 worth of DOT.
A capped stablecoin buffer is planned alongside the DOT redemption system. Existing stablecoins would back this portion of dotUSD and remain redeemable at $1, providing another route for maintaining the peg without selling the DOT used as collateral.
Liquidations would first be absorbed by a stability pool funded with dotUSD deposited by participants. In return for providing capital, stability pool participants would receive liquidated DOT at a discount while the corresponding dotUSD is burned to cancel the outstanding debt. If the pool runs out of funds, collateral and debt would be redistributed proportionally across the remaining vaults.
dotUSD ties into Polkadot’s new economic model The stablecoin proposal comes after Polkadot changed the economics of DOT, including the introduction of a fixed maximum supply.
The DAO approved a 2.1 billion DOT cap in September 2025, replacing the network’s previous model of uncapped issuance. A subsequent tokenomics upgrade introduced the Dynamic Allocation Pool, or DAP, which receives newly issued DOT and other network income for allocation through governance.
When the new tokenomics framework entered its implementation phase in March, DOT emissions were set to fall 53.6%, while newly minted tokens, transaction fees and slashes were directed into the DAP. Governance can allocate those funds toward staking rewards, treasury spending and other network budgets.
Referendum 1944 proposes using dotUSD within the next stage of that system. Under phase two of the DAP, validators and nominators are expected to receive remuneration in stable assets, while the Treasury would receive a combination of stablecoins and DOT. The proposal says dotUSD would allow those obligations to be denominated in dollars and settled through an asset native to Polkadot.
Polkadot already supports externally issued dollar tokens. USDC became available on Polkadot Asset Hub in September 2023, allowing the stablecoin to move to parachains through the network’s cross-consensus messaging system.
The dotUSD proposal argues that relying on externally issued stablecoins leaves Polkadot applications and treasury operations dependent on outside issuers and their governance. Its proposed full version would instead use DOT as the primary collateral while remaining governed through Polkadot.
The Polkadot Community Foundation said its role is administrative and that it would not issue, control or take custody of dotUSD, DOT or USDT under the proposal. It would not operate the stablecoin or provide liquidity, with dotUSD intended to function through on-chain logic without an issuer.
Implementation of the referendum’s preimage depends on Polkadot system chains being upgraded to version 2.5 under a separate governance proposal, Referendum 1942.
Polkadot [DOT] climbed 11.35% over 24 hours as its dotUSD proposal gained 97.5% governance approval, adding a major catalyst to the recent price recovery.
Specifically, the proposal highlights a native decentralized stablecoin, which is designed to serve as the Polkadot protocol’s key stable-value instrument.
The initiative also proposes $5 million in initial liquidity for a DOT-dotUSD pool on the Polkadot Asset Hub. Additionally, the treasury funds are expected to provide $2.5 million in USDT for minting and allocate another $2.5 million in DOT.
Therefore, the structure will expand DOT’s utility while also improving stablecoin liquidity across the protocol.
Futures sellers challenge renewed DOT demand After the earlier stronger market demand, DOT’s 90-day Futures Taker CVD printed seller dominance at the time of press. This implied aggressive Futures sellers started opposing buyers as DOT advanced toward the $1.282 zone.
Initially, the demand absorbed the supply-side pressure pushing DOT above its previous consolidation structure.
However, the momentum changed when the $1.282 price level rejected further expansion, and eventually the price started retracing.
The taker selling activity, therefore, contrasted with the governance catalyst supporting the broader price recovery.
The derivatives’ pressure, on the other hand, intensified further as the leveraged bullish positions unwound following the rejection at $1.282.
Source: CryptoQuant Long liquidations amplify selling pressure Notably, DOT’s price rejection aligned with approximately $305.57K in long liquidations against only $42.38K in shorts.
According to CoinGlass, Binance accounted for roughly $246.29K of the long liquidations, reflecting the exchange with the most losses across tracked exchanges.
The long liquidations imply that the leveraged buyers absorbed substantially heavier losses as the token retreated away from the $1.282 supply zone. Additionally, forced long closures also strengthened the ongoing seller dominance across the futures markets.
Combined, the liquidation imbalance and Futures Taker CVD, therefore, reinforced the derivatives-driven selling narrative behind DOT’s retracement.
Notably, this leverage pressure also coincided closely with the emerging exhaustion indicator across the technical price structure.
Source: CoinGlass Is DOT’s $1.282 rejection signaling exhaustion? Polkadot broke above the $0.946 and $1.044 resistance levels before rallying towards the $1.282 resistance zone, where buyers failed to sustain further advance.
The rejection provided a sharp red candle towards the $1.192 level, signaling possible profit-taking after the sharp price breakout.
Notably, the price and RSI earlier formed an upward convergence, confirming stronger buying pressure as the rally unfolded. However, the RSI also retreated from 85.26 to 75.95 following the price rejection at the $1.282 zone.
However, despite the correction, the MACD indicator remained bullish, with its line holding above its signal line.
Additionally, the positive histogram has expanded, showing that the broader bullish technical structure retained some strength despite the immediate selling pressure.
Therefore, the $1.044 price level would become the key support if the retracement deepens further. Holding above this support level could revive another attempt of the $1.282 resistance, but a break below could expose the $0.946 support zone.
Source: TradingView Final Summary DOT’s dotUSD catalyst supported demand, but $1.282 triggered clear short-term exhaustion. Futures selling and long liquidations increased pressure as DOT retraced from resistance.
Bitcoin price has shown signs of recovery, moving above a key on-chain cost basis despite lingering concerns from short-term technical indicators.
Analysts assess BTC recovery and future roadmapAt the latest available data, Bitcoin is priced near $78,856, representing a daily gain of 0.53%. Trading volume stands at almost $146 billion, and the market capitalization is close to $1.59 trillion as BTC maintains its dominant position among cryptocurrencies.
Crypto analyst Ali Martinez recently highlighted Bitcoin’s return to its “warm supply realized price.” This metric tracks the average acquisition price for BTC controlled by holders who bought their coins between one week and six months ago, offering insights into the mid-term investor landscape.
Historically, recoveries above the warm supply realized price have preceded notable rebounds. For example, in January 2023, after such recovery, Bitcoin climbed 69%. A similar move in October 2023 was followed by a 159% increase. More recent recoveries in October 2024 and April 2025 corresponded with rallies of 74% and 34%, respectively.
Previous instances of Bitcoin regaining its warm supply realized price were followed by significant rallies, but there is no certainty these trends will repeat according to analysts monitoring market history.
However, analysts have stressed that past performance is not a guarantee of future gains. The technical backdrop and broader market conditions remain influential factors for upcoming moves.
Another market analyst, Klarck, has taken a more cautious long-term approach. In a recent report published via KuCoin, Klarck outlined a scenario in which Bitcoin could fall from $69,000 to a cycle bottom near $40,000 before another significant bull run emerges. His forecast sets a long-term price target of $196,000 for 2029.
Klarck also referenced his earlier projections for the 2025 cycle, anticipating the next peak between $83,000 and $60,000.
Mini dictionary: KuCoin, a global cryptocurrency exchange known for its wide range of trading pairs and active analyst community, frequently publishes market updates and research from independent traders and researchers like Klarck.
Klarck’s roadmap envisions a period of downward movement before the next major uptrend: “$69K → $40K (Cycle Bottom) → New Bull Cycle → $196K by 2029. The final flush is closer than most traders realize…”.
Technical analysis and market levelsOn the technical front, Bitcoin’s price has reclaimed a position above the middle line of the Bollinger Bands, currently at $78,729. The upper band stands around $80,907, while the lower band is near $76,551. Movement above the middle band typically signals buyers may attempt to test the higher resistance level.
IndicatorCurrent LevelBTC Price$78,856Bollinger Band (Upper)$80,907Bollinger Band (Mid)$78,729Bollinger Band (Lower)$76,551MACD-452.41MACD Line2,676.23Signal Line3,128.65The MACD remains in negative territory at -452.41, with its primary line at 2,676.23 below the signal line of 3,128.65, highlighting persistent bearish momentum. A bullish crossover in these indicators could shift momentum in favor of buyers.
The short-term resistance zone lies between $80,000 and $81,000. A strong breakout above this range may encourage renewed optimism and further advances, while a drop below $78,700 could test the support near the lower Bollinger Band at $76,551.
Analysts are also monitoring the $69,000 level, cited as a critical threshold for a deeper bearish phase. Holding above this level would strengthen the case for continued recovery, while a loss might indicate an extended period of correction.
Despite the latest positive move and signals of strength above key price bands, traders are watching for confirmation above $80,000 before speculating on a sustained uptrend. Previous warm supply realized price recoveries have often preceded rallies, but there is no assurance this pattern will repeat in the current cycle.
The Hashgraph Group, Merck KGaA and PwC Germany said they are testing a system that records Merck's physical authentication scans on Hedera to document cocoa origin, timed to an EU deforestation law that applies to large operators on Dec. 30. The announcement names no cocoa farmer, processor or chocolate brand, discloses no volumes and sets no deployment date.
The Hashgraph Group, Merck KGaA and PwC Germany said Tuesday they are piloting a cocoa traceability system that links physical authentication scans to records written on the Hedera network, less than four months before the European Union's deforestation regulation starts applying to large and medium operators.
No cocoa company appears in the announcement. The three partners disclose no tonnage, no farm count, no cost and no date for moving past a pilot, and the release carries quotes only from the three technology vendors selling the system. It is the third announcement about the passport platform since February with no named customer, and the second involving Merck KGaA, the Darmstadt-based science and technology company that operates as EMD in the United States and Canada and is unrelated to Merck & Co.
Large and medium operators must comply with Regulation (EU) 2023/1115 from Dec. 30, 2026, with micro and small operators following on June 30, 2027, according to the European Commission. Cocoa is one of seven commodities in scope, alongside cattle, coffee, oil palm, rubber, soya and wood.
The Polygon ProblemWhat the regulation demands is coordinates. Article 9 requires operators to collect and keep for five years "the geolocation of all plots of land" where the commodity was produced, plus the date or time range of production. The regulation defines geolocation as latitude and longitude to at least six decimal places, and for plots above four hectares as a polygon tracing the perimeter. Any deforestation on a listed plot disqualifies everything grown on it.
Merck's M-Trust technology addresses a different question. It embeds security markers in products or packaging and confirms, when scanned, that the item is the one the record describes. The Hashgraph Group's TrackTrace platform writes that scan to Hedera with a timestamp. Neither step produces the farm polygon, which still has to be surveyed at the first mile and entered by whoever buys the beans.
"M-Trust verifies that the product being scanned is genuine, while TrackTrace records that authentication event as part of the product's digital history," said Thomas Endress, Executive Director and Head of M-Trust at Merck, in the release.
Husen Kapasi, Enterprise Blockchain Lead at PwC Germany, located the value in recalls, saying the system maintains "a verifiable trail not only of the finished product, but also of its raw materials, including their quality and compliance history." He said that becomes useful "in the event of a food recall or a compliance investigation."
Four Percent Is The FloorArticle 25 of the regulation requires member states to set fines whose maximum is "at least 4 % of the operator's or trader's total annual Union-wide turnover in the financial year preceding the fining decision," and to raise that figure "where necessary, to exceed the potential economic benefit gained." The 4% is the minimum ceiling member states have to set, calculated on EU-wide revenue.
Non-compliant operators also face confiscation of the products and of any revenue from them, exclusion from public procurement for up to twelve months, and a ban on placing the goods on the market for serious or repeated breaches.
Food Is ExemptThe release also positions the pilot for "the broader shift toward Digital Product Passports under ESPR." The Ecodesign for Sustainable Products Regulation, which created the digital product passport and entered into force on July 18, 2024, does not apply to cocoa. Article 1(2)(a) excludes food as defined in Regulation (EC) No 178/2002, alongside feed, medicines, live plants and animals.
The Hashgraph Group's own TrackTrace launch in February listed textiles, construction materials, batteries and electronics as the product groups the passport regime will cover. Food was not among them.
Five Million FarmersThe traceability problem the partners describe is documented. Cocoa is grown by an estimated five million to six million farmers, most of them smallholders, and West Africa produced 77.3% of the world crop in the 2020/21 season, according to the International Cocoa Organization. Côte d'Ivoire alone accounted for 43.3% and Ghana for 20.2%. Beans from thousands of plots move through village buyers and intermediaries before reaching a processor, which is what makes plot-level geolocation expensive to produce.
Built On June's DealThe cocoa pilot extends an integration the same two companies announced on June 9, when The Hashgraph Group said it would connect M-Trust scanning to TrackTrace passports and said a first working supply-chain pilot would be announced soon. PwC Germany is the addition, credited in the release with mapping business processes, defining workflows and running the training for enterprise deployment.
The Hashgraph Group is a Swiss venture-building company that builds on Hedera. Hedera has been the venue for enterprise and tokenization pilots for years; the network launched an asset tokenization studio in September 2024, and The Hashgraph Association, the Swiss non-profit alongside the group, set up a $250 million venture studio with Saudi Arabia's investment ministry in February 2024.
Stefan Deiss, CEO and co-founder of The Hashgraph Group, framed the cocoa work as a template. "By integrating TrackTrace with Merck's M-Trust technology and PwC's process expertise, we can link any physical product, not limited to cocoa, to a trusted digital record," he said.
HBAR Near Eight CentsHBAR traded at $0.077, down 2.5% over 24 hours and is up 5.9% over seven days, for a market value of $3.5 billion, according to CoinGecko. The token is 86% below its September 2021 high of $0.5692.
Hedera's DeFi footprint is small next to the enterprise pipeline. Total value locked on the network stood at $27.3 million, and $1.4 million of 24-hour DEX volume, according to DefiLlama. The chain processed about 593,500 transactions and counted 3,831 active addresses over 24 hours.
The Hashgraph Group, Merck KGaA and PwC Germany said they are testing a system that records Merck's physical authentication scans on Hedera to document cocoa origin, timed to an EU deforestation law that applies to large operators on Dec. 30. The announcement names no cocoa farmer, processor or chocolate brand, discloses no volumes and sets no deployment date.
The Hashgraph Group, Merck KGaA and PwC Germany said Tuesday they are piloting a cocoa traceability system that links physical authentication scans to records written on the Hedera network, less than four months before the European Union's deforestation regulation starts applying to large and medium operators.
No cocoa company appears in the announcement. The three partners disclose no tonnage, no farm count, no cost and no date for moving past a pilot, and the release carries quotes only from the three technology vendors selling the system. It is the third announcement about the passport platform since February with no named customer, and the second involving Merck KGaA, the Darmstadt-based science and technology company that operates as EMD in the United States and Canada and is unrelated to Merck & Co.
Large and medium operators must comply with Regulation (EU) 2023/1115 from Dec. 30, 2026, with micro and small operators following on June 30, 2027, according to the European Commission. Cocoa is one of seven commodities in scope, alongside cattle, coffee, oil palm, rubber, soya and wood.
The Polygon ProblemWhat the regulation demands is coordinates. Article 9 requires operators to collect and keep for five years "the geolocation of all plots of land" where the commodity was produced, plus the date or time range of production. The regulation defines geolocation as latitude and longitude to at least six decimal places, and for plots above four hectares as a polygon tracing the perimeter. Any deforestation on a listed plot disqualifies everything grown on it.
Merck's M-Trust technology addresses a different question. It embeds security markers in products or packaging and confirms, when scanned, that the item is the one the record describes. The Hashgraph Group's TrackTrace platform writes that scan to Hedera with a timestamp. Neither step produces the farm polygon, which still has to be surveyed at the first mile and entered by whoever buys the beans.
"M-Trust verifies that the product being scanned is genuine, while TrackTrace records that authentication event as part of the product's digital history," said Thomas Endress, Executive Director and Head of M-Trust at Merck, in the release.
Husen Kapasi, Enterprise Blockchain Lead at PwC Germany, located the value in recalls, saying the system maintains "a verifiable trail not only of the finished product, but also of its raw materials, including their quality and compliance history." He said that becomes useful "in the event of a food recall or a compliance investigation."
Four Percent Is The FloorArticle 25 of the regulation requires member states to set fines whose maximum is "at least 4 % of the operator's or trader's total annual Union-wide turnover in the financial year preceding the fining decision," and to raise that figure "where necessary, to exceed the potential economic benefit gained." The 4% is the minimum ceiling member states have to set, calculated on EU-wide revenue.
Non-compliant operators also face confiscation of the products and of any revenue from them, exclusion from public procurement for up to twelve months, and a ban on placing the goods on the market for serious or repeated breaches.
Food Is ExemptThe release also positions the pilot for "the broader shift toward Digital Product Passports under ESPR." The Ecodesign for Sustainable Products Regulation, which created the digital product passport and entered into force on July 18, 2024, does not apply to cocoa. Article 1(2)(a) excludes food as defined in Regulation (EC) No 178/2002, alongside feed, medicines, live plants and animals.
The Hashgraph Group's own TrackTrace launch in February listed textiles, construction materials, batteries and electronics as the product groups the passport regime will cover. Food was not among them.
Five Million FarmersThe traceability problem the partners describe is documented. Cocoa is grown by an estimated five million to six million farmers, most of them smallholders, and West Africa produced 77.3% of the world crop in the 2020/21 season, according to the International Cocoa Organization. Côte d'Ivoire alone accounted for 43.3% and Ghana for 20.2%. Beans from thousands of plots move through village buyers and intermediaries before reaching a processor, which is what makes plot-level geolocation expensive to produce.
Built On June's DealThe cocoa pilot extends an integration the same two companies announced on June 9, when The Hashgraph Group said it would connect M-Trust scanning to TrackTrace passports and said a first working supply-chain pilot would be announced soon. PwC Germany is the addition, credited in the release with mapping business processes, defining workflows and running the training for enterprise deployment.
The Hashgraph Group is a Swiss venture-building company that builds on Hedera. Hedera has been the venue for enterprise and tokenization pilots for years; the network launched an asset tokenization studio in September 2024, and The Hashgraph Association, the Swiss non-profit alongside the group, set up a $250 million venture studio with Saudi Arabia's investment ministry in February 2024.
Stefan Deiss, CEO and co-founder of The Hashgraph Group, framed the cocoa work as a template. "By integrating TrackTrace with Merck's M-Trust technology and PwC's process expertise, we can link any physical product, not limited to cocoa, to a trusted digital record," he said.
HBAR Near Eight CentsHBAR traded at $0.077, down 2.5% over 24 hours and is up 5.9% over seven days, for a market value of $3.5 billion, according to CoinGecko. The token is 86% below its September 2021 high of $0.5692.
Hedera's DeFi footprint is small next to the enterprise pipeline. Total value locked on the network stood at $27.3 million, and $1.4 million of 24-hour DEX volume, according to DefiLlama. The chain processed about 593,500 transactions and counted 3,831 active addresses over 24 hours.
A new patent linked to the US Department of Transportation (DOT) has sparked discussion about Hedera’s potential role in nationwide road-user charging systems. Ayman Mufleh, a popular market analyst, highlighted that the patent specifically mentions Hashgraph settlement and consensus functions as potential components for a digital-currency-based method of collecting per-mile tolls from drivers.
Patent details mention distributed ledger technologyThe patent, described as outlining “methods and systems for facilitating collection of road user charges using a digital currency based on a distributed ledger technology,” references several consensus frameworks. According to Mufleh, the main focus is on blockchains, directed acyclic graphs, and technologies similar to Hedera’s Hashgraph. These systems are noted for their scalability and ability to enhance auditability, which could allow for a road charging system that does not rely on centralized tolling infrastructure.
Supporting technical detail, the filing presents a transaction flow diagram: a vehicle or user digitally signs a smart contract, followed by multi-layered validation, and final settlement via a Hashgraph ledger. Both the Hedera Hashgraph Settlement System and the Hedera Consensus Service are explicitly named in the patent’s technical language.
However, observers stress that mention within a patent does not equate to a production decision. The patent’s language, while detailed, should not be mistaken for a confirmed integration or live government use of HBAR—the native Hedera token—as an official payment option for road usage.
Mufleh draws a clear distinction between technical references in a patent and an actual DOT rollout, noting that no live contracts, procurement decisions, or implementation timelines have been revealed.
He points out that claims about current DOT use of Hedera HBAR extend beyond the evidence provided in the patent documentation. The department’s patent outlines possible frameworks but stops short of establishing that HBAR is being utilized today.
Automated vehicles and future infrastructure possibilitiesMufleh links the patent’s potential impact to a recently introduced DOT automated-vehicle strategy known as “America Leads.” In this scenario, the proliferation of electric and autonomous vehicles between 2026 and 2030 could drive demand for programmable digital systems capable of handling widespread tolls, road charges, and related transportation fees.
While the technology could eventually affect up to 300 million vehicles in the United States, there are currently no specifics in terms of deployment dates, contract values, or details of participating states. The analysis emphasizes that Hedera’s appearance in the patent is an early indicator, not a guarantee of near-term adoption.
Recent trading activity showed that HBAR rose modestly in the days surrounding the news, but the token did not register significant gains. Mufleh, offering a market outlook, suggested that HBAR could eventually retest its previous peak near $0.60, and even reach $1 or $2 over the longer term. He adds that such scenarios depend on wider trends around tokenization, stablecoins, regulatory shifts, and institutional adoption, all of which remain speculative for now.
For investors, the explicit reference to Hashgraph technology in DOT’s patent provides evidence of Hedera’s suitability for mobility payments, but technical mention alone should not be viewed as confirmation of government adoption or current HBAR usage.
In parallel with this move toward on-chain infrastructure and transparent payment platforms, a broader market transition is underway. While traditional financial models depend on complex intermediaries, platforms such as 1stepSwap are enabling investors to hold tokenized shares of major US companies, as well as gold and silver, directly within their crypto wallets. These solutions leverage real-world asset (RWA) tokenization and automated price discovery, removing conventional middlemen and unlocking new efficiencies for both traders and large institutions.
Investor perspective and market cautionFor holders of Hedera, the mention within a major government patent is a notable event, but analysts encourage investors to remain cautious and distinguish between potential and actual implementation. Any bullish targets for HBAR remain tied to future growth in digital infrastructure, but no formal DOT issuance or procurement has taken place to date.
At this stage, the presence of Hedera’s framework in an official document signals interest at an institutional level, yet proof of active government use has not been established.
A different approach to transaction pricingMost public networks price their transactions directly in their native token, which means the real cost of any on-chain action moves in lockstep with market conditions. @hedera takes a different path. The result is that users and enterprises know what a transaction costs in dollar terms before they sign it, regardless of where $HBAR is trading.
How the fee schedule and exchange rate work under the hood The exchange rate itself is published separately by the network and refreshed roughly once an hour, meaning the HBAR amount a user pays can shift between updates even for an identical transaction.
Standard fees follow the published table, but not every transaction is straightforward. Developers working at scale should account for this when estimating costs.
For builders, this predictability also has a practical side:
Sources:
Hedera Official Fee Documentation
Hedera: How Hedera Calculates the HBAR/USD Exchange Rate
HIP-1261: Simple Fees
Key Takeaways Manufacturing remains in expansion, with new orders, production and exports supporting future activity.Caterpillar's record $72B backlog and capacity expansion position it for rising demand across key markets.Watts Water's record Q2 results benefited from pricing, higher volumes and growing data center demand. U.S. manufacturing activity remained in expansion territory for the eighth consecutive month in August, despite persistent trade uncertainty, elevated input costs and geopolitical tensions. Three of four key demand indicators, New Orders, Backlog of Orders and New Export Orders, remained in expansion. Meanwhile, the Customers’ Inventories Index stayed in “too low” territory or below 50%, which is generally viewed as supportive of future production.
The improving manufacturing backdrop is also supporting the Industrial Products sector, which is witnessing positive estimate revisions for the third quarter. Per the latest Earnings Trends report, the sector is expected to deliver earnings growth of 12.9% in the third quarter and 11.6% in 2026. It is one of the nine sectors expected to post double-digit growth this year. Against this backdrop, it would be ideal to invest in industrial stocks like Caterpillar (CAT - Free Report) , Kubota (KUBTY - Free Report) , Nordson (NDSN - Free Report) , Zebra Technologies (ZBRA - Free Report) and Watts Water Technologies (WTS - Free Report) .
Manufacturing Activity Remains in ExpansionThe ISM Manufacturing PMI was 54.6% in August, dipping one percentage point from July’s 55.6%. Despite this, August marked the eighth consecutive month of manufacturing growth, following a 10-month period of contraction. Despite the moderation, the sector remained in expansion for the eighth straight month following 10 consecutive months of contraction. Five of the six largest manufacturing industries expanded, led by transportation equipment, petroleum and coal products, computer and electronic products, machinery, and food, beverage and tobacco products.
The New Orders Index declined to 53.7% from 56.7% but remained in expansion for the eighth consecutive month. The Production Index held at a strong 58.3%, extending its expansion streak to 10 months. The Backlog of Orders Index was 51.8%, while new export orders edged up to 53.2%, expanding for the second consecutive month.
The Employment Index slipped to 51.2% from 52.8%, but remained in expansion territory for the second consecutive month. Only one of the six largest manufacturing industries reported higher employment, pointing to a more cautious approach toward hiring across the sector. Still, the overall employment reading suggests that manufacturers are not yet broadly cutting workforce levels as production remains healthy.
The Inventories Index was 50.6% in August, down 0.6 percentage points compared with 51.2% in July. The Customers’ Inventories Index rose to 42.8% in August from 40.7% in July, and remained in “too low” territory in August. This is generally positive for future production as manufacturers may need to replenish inventories as demand improves.
Cost pressures continue to challenge manufacturers. The Prices Index remained elevated at 71.1%, indicating higher raw-material prices for the 23rd consecutive month. Steel, aluminum, copper, electrical components and electronic components were among the materials reported as rising in price or facing supply constraints. Tariffs and geopolitical tensions are adding to cost pressures and could weigh on margins. In response, industry participants are focusing on pricing actions, cost optimization, productivity gains and diversification of supplier networks to offset these pressures.
Outlook Remains Constructive, but Risks PersistOverall, the trend so far this year points to a continued manufacturing recovery. Lean customer inventories, expanding new orders and sustained production provide a positive foundation for future activity. At the same time, elevated input costs, tariffs, supply-chain challenges and geopolitical uncertainty could limit the pace of improvement. ISM's 2026 forecast calls for 8.4% growth in manufacturing revenues, 4.9% growth in capital expenditures and a 9.7% increase in production capacity, supporting the case for industrial stocks positioned to benefit from renewed manufacturing investment.
5 Industrial Products Stocks to BuyCaterpillar: The company ended the second quarter of 2026 with a record backlog of $72 billion, 92% higher than last year. It is positioned to benefit from several secular growth trends, including U.S. infrastructure spending, mining demand related to the energy transition, automation adoption, data center expansion and sustainability investments. To capitalize on rising power-generation and oil-and-gas demand, CAT will restart production of its 10-megawatt gas engine platform. It plans to bring about 1.5 gigawatts of capacity back online. It is also expanding turbine capacity and has repurposed a 250,000-square-foot facility in Wamego, KS. CAT is simultaneously investing in services, e-commerce, sustainability, electrification and other digital initiatives.
The Zacks Consensus Estimate for Caterpillar’s current-year earnings moved up 9.7% in the past 60 days. The consensus mark indicates year-over-year growth of 43.4%. The company has a trailing four-quarter earnings surprise of 18.1%, on average. Caterpillar has an estimated long-term growth of 21.1% and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kubota: The company is benefiting from strength in construction equipment, particularly in North America, along with improving prospects in Europe and continued growth in India. Disciplined fixed-cost management and profitability improvement measures are expected to support profitability. Agricultural machine automation is one of the key pillars of these initiatives. The company is expanding its product lineup, adding a variety of attachments to meet customer needs.
The Zacks Consensus Estimate for Kubota’s earnings for fiscal 2026 has moved up 36% over the past 60 days and suggests year-over-year growth of 40%. The company has a trailing four-quarter earnings surprise of 41.7%, on average. It has an estimated long-term earnings growth rate of 10% and currently carries a Zacks Rank #2 (Buy).
Nordson: The company is poised to gain from its diversified business structure, which helps mitigate the adverse impact of weakness in one end market with strength across the others. Over time, Nordson has been capitalizing on acquisitions by penetrating unexplored markets and expanding its product lines. Nordson remains committed to rewarding its shareholders through dividend payments and share buybacks.
The Zacks Consensus Estimate for Nordson for fiscal 2026 earnings has moved up 2% over the past 60 days and suggests year-over-year growth of 15.6%. The company has a trailing four-quarter earnings surprise of 32.4%, on average. It has an estimated long-term earnings growth rate of 13% and currently carries a Zacks Rank of 2.
Zebra Technologies: The company is benefiting from broad demand across retail, manufacturing and healthcare, with mobile computing, printing, machine vision and RFID supporting growth across both segments. Its integrated hardware, software and services portfolio is deepening customer adoption of automation and AI-enabled workflows, while Elo Touch and Photoneo expand its addressable opportunities. Healthy cash generation continues to support share repurchases and investment, while device upgrade cycles and growing software adoption strengthen the longer-term outlook. Its expanding transportation and logistics pipeline also supports future growth opportunities.
The Zacks Consensus Estimate for Zebra Technologies for fiscal 2026 earnings has moved up 9% over the past 60 days. The estimate suggests year-over-year growth of 28.2%. The company has a trailing four-quarter earnings surprise of 15.5%, on average. It currently carries a Zacks Rank of 2.
Zebra Technologies Corporation Price and Consensus
Watts Water Technologies: The company completed five acquisitions in 2025 to broaden its product set, extend market reach and increase nonresidential exposure. The acquired businesses are performing well and remain on track to achieve or exceed targeted synergies through the One Watts performance system. Watts Water's second-quarter 2026 results benefited from favorable pricing, higher volumes and data center demand, which helped drive record sales, operating income and earnings per share. Data center cooling is emerging as a growth avenue as liquid cooling adoption, new products and broader customer relationships expand the opportunity. A healthy balance sheet supports capacity investments, selective M&A and shareholder returns.
The Zacks Consensus Estimate for Watts Water Technologies for fiscal 2026 earnings has moved up 4.7% over the past 60 days and the estimate suggests year-over-year growth of 20.5%. The company has a trailing four-quarter earnings surprise of 10.4%, on average. It has an estimated long-term earnings growth rate of 8% and currently carries a Zacks Rank of 2.
McKesson (MCK - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Shares of this prescription drug distributor have returned -1.4% over the past month versus the Zacks S&P 500 composite's -0.4% change. The Zacks Medical - Dental Supplies industry, to which McKesson belongs, has gained 2.3% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
McKesson is expected to post earnings of $10.75 per share for the current quarter, representing a year-over-year change of +9%. Over the last 30 days, the Zacks Consensus Estimate has changed +1.2%.
For the current fiscal year, the consensus earnings estimate of $44.65 points to a change of +14.2% from the prior year. Over the last 30 days, this estimate has changed +0.1%.
For the next fiscal year, the consensus earnings estimate of $49.83 indicates a change of +11.6% from what McKesson is expected to report a year ago. Over the past month, the estimate has changed +0.2%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, McKesson is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
For McKesson, the consensus sales estimate for the current quarter of $110.14 billion indicates a year-over-year change of +6.8%. For the current and next fiscal years, $429.09 billion and $459.25 billion estimates indicate +6.4% and +7% changes, respectively.
Last Reported Results and Surprise HistoryMcKesson reported revenues of $105.38 billion in the last reported quarter, representing a year-over-year change of +7.7%. EPS of $9.93 for the same period compares with $8.26 a year ago.
Compared to the Zacks Consensus Estimate of $104.39 billion, the reported revenues represent a surprise of +0.95%. The EPS surprise was +5.19%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates two times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
McKesson is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about McKesson. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Yellow tentacles decorated with rhythmic patterns of dots swirl around a room, the patterns echoed on the floor and the walls. Reflections bounce off mirrors, blurring the boundaries of the space at Amsterdam 's Stedelijk Museum.
The installation — specially created for an exhibition of the work of Japanese artist Yayoi Kusama, who died Aug. 14 at age 97 — is titled “Infinity Mirrored Room — The Hope Of The Polka Dots Buried In Infinity Will Eternally Cover The Universe.”
The room is at the heart of the exhibition at the Stedelijk that opens this week, just two weeks after her death. What was to have been a retrospective has turned into a posthumous celebration of one of the globe's best known contemporary artists, who depicted her world splashed with polka dots and other repetitive motifs.
“We heard about her passing,” exhibition curator Leontine Coelewij told The Associated Press. “We decided to make it really a tribute. A tribute to her life. Tribute to her work, so that everybody can see what she is ... to us. So many wonderful works.”
Kusama's signature dots greet visitors before they even get into the museum in Amsterdam — they are plastered across its facade and even on red fabric wrapped around trees on the adjacent Museum Square.
Coelewij said that painting the dots was a way for the artist to process hallucinations she had from a young age. Among the works on display is a huge pumpkin made of fiber-reinforced plastic and polyurethane paint, its yellow skin covered in lines of black dots of varying sizes.
“So a lot of her work comes from these mental issues that she had,” Coelewij said. “And I think she made something beautiful out of it for her. It was also a way to explore ideas about infinity, for instance, like, how do we relate to the universe, to the cosmos, to the world around us?”
Kusama had long-standing links to the Netherlands and the Stedelijk. She was active in Amsterdam and other Dutch cities in the freewheeling 1960s, and her work was closely aligned to the ZERO movement established in the late 1950s by German artists, Heinz Mack and Otto Piene.
She was part of a landmark exhibition by the movement, also at the Stedelijk, in 1965. A photo from that Amsterdam exhibition shows Kusama, wearing a white kimono, standing among artists from the movement — mostly men in suits and ties.
In a famous “happening” in 1967, Kusama covered the naked body of Dutch artist Jan Schoonhoven with painted dots in the chapel of the Stedelijk Museum Schiedam near Rotterdam.
“She really liked the whole atmosphere in the Netherlands, which was rather open and tolerant, liberal,” Coelewij said. “She was also part of the counterculture of that moment, the hippie culture. You know, Amsterdam was the magical center, and she felt very much at home here.”
The new exhibition spans through several rooms before going up an escalator lined with mirrors to reach the infinity room installation one floor up.
It's Coelewij's favorite part of the show, created for the exhibition that was previously staged at Museum Ludwig in the German city of Cologne.
“There’s a lot of mirrors, there’s tentacles, there’s a lot of color, and it’s a ... you can say hallucinating world. You really step into her mind,” Coelewij said.
It's a fitting tribute to the artist who said 10 years ago that she felt her life was nearing its end but she was “still fighting to the death for my art.”
“I am giving all I have so that many people will continue to be interested in my art, even after I am dead,” Kusama had said.
The exhibition at Amsterdam’s Stedelijk opens on Friday and runs through Jan. 17.
AMSTERDAM (AP) — Yellow tentacles decorated with rhythmic patterns of dots swirl around a room, the patterns echoed on the floor and the walls. Reflections bounce off mirrors, blurring the boundaries of the space at Amsterdam ‘s Stedelijk Museum.
The installation — specially created for an exhibition of the work of Japanese artist Yayoi Kusama, who died Aug. 14 at age 97 — is titled “Infinity Mirrored Room — The Hope Of The Polka Dots Buried In Infinity Will Eternally Cover The Universe.”
The room is at the heart of the exhibition at the Stedelijk that opens this week, just two weeks after her death. What was to have been a retrospective has turned into a posthumous celebration of one of the globe’s best known contemporary artists, who depicted her world splashed with polka dots and other repetitive motifs.
“We heard about her passing,” exhibition curator Leontine Coelewij told The Associated Press. “We decided to make it really a tribute. A tribute to her life. Tribute to her work, so that everybody can see what she is ... to us. So many wonderful works.”
Kusama’s signature dots greet visitors before they even get into the museum in Amsterdam — they are plastered across its facade and even on red fabric wrapped around trees on the adjacent Museum Square.
Coelewij said that painting the dots was a way for the artist to process hallucinations she had from a young age. Among the works on display is a huge pumpkin made of fiber-reinforced plastic and polyurethane paint, its yellow skin covered in lines of black dots of varying sizes.
“So a lot of her work comes from these mental issues that she had,” Coelewij said. “And I think she made something beautiful out of it for her. It was also a way to explore ideas about infinity, for instance, like, how do we relate to the universe, to the cosmos, to the world around us?”
Kusama had long-standing links to the Netherlands and the Stedelijk. She was active in Amsterdam and other Dutch cities in the freewheeling 1960s, and her work was closely aligned to the ZERO movement established in the late 1950s by German artists, Heinz Mack and Otto Piene.
She was part of a landmark exhibition by the movement, also at the Stedelijk, in 1965. A photo from that Amsterdam exhibition shows Kusama, wearing a white kimono, standing among artists from the movement — mostly men in suits and ties.
In a famous “happening” in 1967, Kusama covered the naked body of Dutch artist Jan Schoonhoven with painted dots in the chapel of the Stedelijk Museum Schiedam near Rotterdam.
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“She really liked the whole atmosphere in the Netherlands, which was rather open and tolerant, liberal,” Coelewij said. “She was also part of the counterculture of that moment, the hippie culture. You know, Amsterdam was the magical center, and she felt very much at home here.”
The new exhibition spans through several rooms before going up an escalator lined with mirrors to reach the infinity room installation one floor up.
It’s Coelewij’s favorite part of the show, created for the exhibition that was previously staged at Museum Ludwig in the German city of Cologne.
“There’s a lot of mirrors, there’s tentacles, there’s a lot of color, and it’s a ... you can say hallucinating world. You really step into her mind,” Coelewij said.
It’s a fitting tribute to the artist who said 10 years ago that she felt her life was nearing its end but she was “still fighting to the death for my art.”
“I am giving all I have so that many people will continue to be interested in my art, even after I am dead,” Kusama had said.
The exhibition at Amsterdam’s Stedelijk opens on Friday and runs through Jan. 17.
Kripto para piyasasında geçmiş yıllarda görülen 100 katlık altcoin yükselişlerinin sona erip ermediği yeniden tartışılıyor. CoinMarketCap Araştırma Başkanı Alice Liu’ya göre üç haneli getiriler hala mümkün ancak fırsatlar artık piyasanın farklı alanlarında ortaya çıkıyor. Özellikle memecoinler ve yeni ekosistemlerdeki tokenlerin hızlı yükselişlerine dikkat çeken Liu, güçlü temellere sahip projelerde ise 10 ila 20 katlık potansiyelin hala yakalanabileceğini düşünüyor.
Memecoinlerde 100 Kat Yükseliş Hala Mümkün mü? Alice Liu, yüksek getirilerin tamamen ortadan kalkmadığını ancak yatırımcıların doğru piyasa trendlerini erken yakalaması gerektiğini belirtti. Liu, “Hala devam ediyorlar. Doğru partilere katılmamız gerekiyor” ifadelerini kullandı. Özellikle Justin Sun ile bağlantılı memecoinler ve Robinhood Chain üzerinde geliştirilen tokenlerdeki hareketliliğe dikkat çeken Liu, memecoin piyasasında sermayenin oldukça hızlı hareket ettiğini söyledi. Bununla birlikte güçlü temellere sahip daha köklü altcoinlerde 100 kat yerine 10 veya 20 katlık yükselişlerin daha gerçekçi olabileceğini ifade etti.
İlginizi Çekebilir: Bitcoin’de Dengeleri Değiştirecek İki Faktör!
CoinMarketCap Altcoin Sezonu Endeksi mevcut piyasanın henüz tam anlamıyla bir altcoin sezonuna girmediğini gösteriyor. Endeks, stablecoinler hariç en büyük 100 kripto paranın son 90 günlük performansını Bitcoin ile karşılaştırıyor.
Endekste öne çıkan seviyeler şöyle:
75 ve üzeri: Piyasanın güçlü bir altcoin sezonuna girdiğine işaret ediyor. 25 ve altı: Bitcoin’in piyasadaki hakimiyetinin güçlü olduğunu gösteriyor. Mevcut seviye 36: Altcoinlerin Bitcoin’in gölgesinden çıkmaya başladığı ancak henüz geniş çaplı bir altcoin sezonunun oluşmadığı anlamına geliyor. Liu’ya göre son dönemde tek bir altcoin rallisinden ziyade farklı anlatılar ve sektörler arasında hızlı sermaye geçişleri yaşanıyor.
Hangi Altcoinler Öne Çıkıyor? Son 90 günlük performansa bakıldığında launchpad projeleri ve yeni ekosistem tokenlerinin yatırımcı ilgisini güçlü şekilde çektiği görülüyor. Liu’ya göre özellikle Robinhood Chain üzerinde geliştirilen PONS, son dönemin öne çıkan projeleri arasında yer alırken Pump.fun da güçlü performans gösteren platformlardan biri oldu. Bu hareketlilik, yatırımcıların yeni anlatılara ve yüksek büyüme potansiyeli taşıyan projelere yönelmeye devam ettiğini gösteriyor.
Ancak sermaye akışı yalnızca yeni tokenler ve memecoinlerle sınırlı değil. Zcash ve Litecoin gibi daha köklü kripto paraların yanı sıra Uniswap ve Curve gibi DeFi projeleri de yatırımcıların radarında bulunuyor. Farklı kategorilerdeki projelerin aynı dönemde güç kazanması, piyasadaki sermayenin tek bir alanda yoğunlaşmak yerine farklı kripto sektörleri arasında hareket ettiğine işaret ediyor. Liu’ya göre bu hızlı rotasyon, olası bir altcoin sezonunda hangi projelerin öne çıkacağını belirleyebilecek önemli faktörlerden biri olabilir.
Altcoin Sezonu Başlayabilir mi? Liu’ya göre geniş çaplı bir altcoin rallisinin başlaması için Bitcoin’in mutlaka yeni bir tüm zamanların en yüksek seviyesine ulaşması veya 100.000 doları aşması gerekmiyor. Asıl önemli faktör Bitcoin’in güçlü ve istikrarlı bir yükseliş sergilemesi. Bitcoin’in 70.000 veya 80.000 dolar gibi önemli seviyeleri aşarak istikrar kazanması, piyasadaki likiditeyi ve yatırımcı güvenini artırabilir. Tarihsel olarak sermaye daha sonra Ethereum ve DeFi projelerine, ardından daha riskli altcoinler ve memecoinlere doğru hareket edebiliyor. CoinMarketCap Araştırma Başkanı Alice Liu, altcoinlerde büyük kazanç fırsatlarının tamamen ortadan kalkmadığını düşünüyor. Ancak Altcoin Sezonu Endeksi’nin 36 seviyesinde olması, piyasanın henüz geniş çaplı bir altcoin rallisine girmediğini gösteriyor. Bitcoin’in güçlü görünümünü koruması ve sermayenin altcoinlere yayılması halinde yeni fırsatlar ortaya çıkabilir.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Uniswap Labs is rolling out a suite of developer resources designed to make building on Uniswap v4 hooks considerably less painful. The package includes dedicated API access, a public hook registry, security review partnerships, and direct integration into the Uniswap interface, collectively representing the most comprehensive support infrastructure the protocol has offered to third-party builders.
Think of hooks as modular plug-ins for Uniswap’s liquidity pools. They’re external smart contracts that can inject custom logic before or after key pool actions like swaps or liquidity additions. Want dynamic fees that adjust based on volatility? A custom pricing curve? Hooks make that possible without touching the core protocol code.
What’s in the toolkit The centerpiece for discovery is a public hooklist repository, essentially a registry of deployed v4 hooks complete with metadata and audit links. Developers can submit their hooks via GitHub issues, giving the ecosystem a centralized place to find, evaluate, and integrate third-party hook implementations.
On the security front, Uniswap launched an AI-assisted plugin called uniswap-hooks on July 14, 2026. The tool provides security guidance and threat modeling specifically tailored to developers working with v4 hooks.
That plugin arrived roughly six weeks after the Uniswap Foundation published its Self-Directed Security Framework around June 1, 2026. The framework outlines four core principles centered on developer ownership and risk management, bundled with risk-scoring worksheets designed to help builders evaluate their own code before shipping it to mainnet.
Uniswap has also lined up audit subsidies through partnerships with OpenZeppelin and Trail of Bits, two of the most respected smart contract auditing firms in the industry.
Perhaps the most practically significant change: hooks are now integrated directly into the Uniswap interface. That means hook-compatible pools show up in liquidity provision flows and automatic swap routing. Developers don’t have to build their own frontend or convince users to visit a separate site. If a hook-enabled pool offers a better rate, Uniswap’s router can find it.
Why hooks matter for v4 Uniswap v4 was architected around the idea that the protocol should be a platform, not just a product. Hooks are the mechanism that makes that vision tangible. Instead of Uniswap Labs building every possible feature into the core contract, they built the infrastructure for anyone to extend pool functionality.
The approach enables things like limit orders, time-weighted average price execution, MEV redistribution, and oracle integrations, all without protocol upgrades.
The public hooklist repository with its audit links serves a curation function. The AI plugin and security framework serve a prevention function. And the audit subsidies serve an accessibility function.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Uniswap [UNI] has overtaken Circle [CRCL] to become the second-highest fee-generating crypto protocol. The timing couldn’t have been more peculiar though, with Circle pushing into payments through its Tazapay buy.
Here’s the rundown!
Uniswap overtakes Circle! Uniswap generated about $66.8 million in protocol fees over the past week. That development pushed the platform ahead of Circle.
It is now also the second-highest fee-generating crypto protocol after Tether [USDT].
A contributor to this growth might just be Robinhood’s new Ethereum L2. More users and transactions on the network have increased demand for on-chain trading, something that has worked in Uniswap’s favour.
Circle bets bigger on USDC Payments with Tazapay acquisition While Uniswap has been gaining ground, Circle may just be playing a different game though.
The stablecoin behemoth will soon buy Singapore-based payments platform Tazapay. The deal is reportedly worth about $400 million, all-stock. The transaction is expected to close in 2027, pending regulatory approvals.
Irfan Ganchi, Senior Vice President of Payments at Circle, said,
Combined with Circle’s existing network, Tazapay extends our coverage to move money anywhere stablecoin payments are being adopted globally.
Tazapay already handles more than $25 billion in annualised payment volume. They also work with over 60 banking and fintech partners. Its local payout network reaches more than 100 markets. This suggested that Circle would get a much wider base for moving USDC across borders.
Accordig to Co-Founder and CEO Jeremy Allaire,
We are excited to bring the team in-house and work together towards accelerating Circle’s mission.
Notably, stablecoins already make up around 60% of Tazapay’s transaction volume.
AMBCrypto previously reported that Circle’s USYC was also in a close race with BlackRock’s BUIDL in the tokenized Treasury market. The gap between the two was small, so money inflow or outflow can quickly change their positions.
Circle has been connected to the company for some time. It previously invested in Tazapay through Circle Ventures, and Tazapay has also been a design partner for Circle Payments Network since 2025.
Final Summary Uniswap generated about $66.8M in weekly protocol fees, overtaking Circle. The latter is expanding USDC payments with its $400M Tazapay acquisition.
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TLDR Circle agreed to buy Singapore-based payments company Tazapay for $400 million in an all-stock deal. Tazapay processes more than $25 billion in annual payment volume across over 100 markets. About 60% of Tazapay’s transaction volume already involves stablecoins. Uniswap passed Circle to become the second-highest fee-generating crypto protocol, pulling in $66.8 million in weekly fees. Circle shares fell 5.8% on Tuesday, closing at $96.18 after the acquisition news. Circle has agreed to buy Tazapay, a Singapore-based payments company, for $400 million in an all-stock deal. The announcement came on Sept. 8, alongside a filing with U.S. regulators.
The deal was signed on Sept. 4 through Taurus Acquisition, a Circle subsidiary. Circle will pay the full amount using Class A common stock.
The number of shares will be based on Circle’s average closing price over the 20 trading days before the deal closes. The final price can still shift based on Tazapay’s debt, expenses and cash on hand.
Circle will also hold back some shares after closing. Five percent will be set aside for possible claims, with another three percent held for additional issues.
Tazapay’s global payment reach Tazapay handles cross-border payments for banks, marketplaces and other platforms. The company works with more than 60 banking and fintech partners.
Its payout network reaches more than 100 markets around the world. Circle said Tazapay processes over $25 billion in payment volume each year.
Circle has signed an agreement to acquire @Tazapay. 60+ banking and fintech partners. 100+ payment markets. 60%+ stablecoin TPV as of July 31, 2026. This accelerates the breadth and depth of CPN globally. https://t.co/L1AufIzus7
— Jeremy Allaire – jerallaire.arc (@jerallaire) September 8, 2026
That figure has grown fast. Tazapay reported just over $10 billion in annual volume back in August 2025.
Circle said stablecoins already make up about 60% of Tazapay’s transaction volume. That overlap is part of the reason Circle wants to own the company outright.
Circle Ventures had already invested in Tazapay before this deal. Tazapay has also worked as a design partner for Circle Payments Network since 2025.
Circle’s Senior Vice President of Payments, Irfan Ganchi, said the deal extends the company’s coverage to move money wherever stablecoin payments are being adopted. Circle co-founder and CEO Jeremy Allaire said he was looking forward to bringing the Tazapay team in house.
Uniswap moves ahead of Circle in fees While Circle works on this acquisition, Uniswap has passed it in a different measure. Uniswap generated about $66.8 million in protocol fees over the past week.
That put Uniswap ahead of Circle, making it the second-highest fee-generating crypto protocol. Only Tether generated more in fees during that stretch.
Growth on Robinhood’s new Ethereum layer-2 network may have played a part. More activity on that network has increased demand for on-chain trading, which has worked in Uniswap’s favor.
Circle shares closed at $96.18 on Sept. 8, down about 5.8% from the prior session. Shares traded between $95.20 and $101.14 during the day.
The drop cannot be tied only to the Tazapay announcement without more information. Other market factors may have played a role.
The Tazapay deal still needs approval from the Monetary Authority of Singapore, along with other regulatory clearances. Closing is expected sometime in 2027.
Either company can end the agreement if it has not closed within nine months. That window can stretch to 15 months if regulatory approvals are still pending, and there is no termination fee involved.
Circle said Tazapay customers will not see any immediate changes to services, pricing or support. No timeline has been shared yet for which payment corridors will get USDC support first.
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