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Vancouver, British Columbia--(Newsfile Corp. - December 16, 2025) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") is pleased to announce a maiden Inferred Mineral Resource of 14.5 Mt at 5.47 g/t for 2.55 million ounces (Moz) of gold for the Regnault gold deposit at the Frotet Project (the "Project") in northern Quebec. Kenorland holds a 4% NSR royalty (the "Frotet Royalty") across the entirety of the Project, which is 100% owned and operated by Sumitomo Metal Mining Canada Ltd. ("Sumitomo" or "SMMCL").

Highlights:

Inferred resource of 14.5 Mt with an average grade of 5.47 g/t Au for 2.55 Moz of gold (Au)Resource estimate incorporated 289 drillholes totalling 127,217 m of drillingSystem remains open in multiple directions with clear potential for resource upsideKenorland's 4% NSR royalty now backed by formal high-grade multi-million ounce gold resourceZach Flood, President and CEO, of Kenorland commented, "The maiden mineral resource estimate of the Regnault gold deposit firmly underpins the value of Kenorland and our 4% NSR royalty. Achieved in under five years from grassroots discovery, at a low discovery cost of roughly $20 per ounce, Regnault has emerged as a high-grade, multi-million-ounce gold deposit that remains wide open for expansion. Discoveries of this magnitude are rare and given the relatively modest amount of drilling completed to date, substantial upside potential remains. We're immensely proud to have reached this milestone in close collaboration with our partners at Sumitomo and look forward to their continued leadership of the Project moving forward. The Frotet Royalty now stands as one of the highest-quality royalty assets in the junior sector and will continue to be a clear driver of long-term value for Kenorland shareholders."

Table 1 - Summary of maiden Mineral Resource Estimate for the Regnault gold deposit

ClassificationTonnageAverage GradeContained Metal(Mt)Au (g/t)Ag (g/t)Au (Moz)Ag (Moz)Inferred14.55.475.182.552.41Notes:

The Mineral Resource Estimate was completed by SLR Consulting (Canada) Ltd. ("SLR") in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards and Canadian National Instrument 43-101 ("NI 43-101"). SLR is independent of Kenorland and Sumitomo.Mineral Resources are estimated at cut-off grades of 2.15 g/t Au for long-hole mining and 2.61 g/t Au for cut-and-fill.Mineral Resources are estimated using a long-term gold price of US$2,500 per ounce, and a US$/C$ exchange rate of 1.35.Bulk density ranges by domain between 2.75 t/m3 and 2.86 t/m3 . Metallurgical recovery is 93.3% for gold and 90% for Ag.The Mineral Resource excludes a 100 m crown pillar in areas located beneath the lake.Mineral Resources are reported within Deswick Stope Optimizer (DSO) underground reporting shapes.A minimum mining width of 1.5 m was used for the long hole DSO shapes and 2.5 m for the cut-and-fill DSO shapes. Totals may vary due to rounding.
† Note that the average grade and minimum mining width above do not guarantee future production.2025 Regnault Mineral Resource Estimate

The maiden Mineral Resource Estimate ("MRE") incorporates all drilling completed to the end of the 2025 winter program, comprising 289 diamond drill holes totalling 127,217 metres. Modelled grade shells, each supported by a minimum of three drill holes at up to approximately 100 m spacing, include 92 high-grade veins defined using a 2.50 g/t Au cut-off, as well as a broader low-grade envelope encompassing 91 veins at a 0.30 g/t Au cut-off.

Inferred Mineral Resources correspond to areas supported by at least three drill holes with nominal drill spacing of up to approximately 80 m. Classification boundaries were locally refined to reflect geological interpretation, grade continuity, and zone thickness. Several portions of the deposit, most notably the R10, R11, and parts of the R9 trends, did not meet the spacing criteria for Inferred classification and were therefore excluded from the MRE (refer to Figure 1).

The MRE is constrained within underground resource panels based on a 2.15 g/t Au cut-off and a 1.5 m minimum mining width for long-hole stopes, and a 2.61 g/t Au cut-off with a 2.5 m minimum mining width for cut-and-fill stopes. Mining methods were selected based on the general geometries and dip of the modelled grade shells. Material within a 100 m crown pillar was also excluded from the MRE.

Resource classification follows the CIM (2014) Definition Standards. Modelling and estimation were completed in Leapfrog Geo and Leapfrog Edge, and validation included database checks, wireframe-to-block volume comparisons, statistical reviews, and visual inspections in plan and long section. Reporting assumes a gold price of US$2,500/oz, with an effective date of November 30, 2025.

Figure 1: Regnault deposit showing MRE constrained model (grey), and modelled high-grade shells (red)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/278193_b024c431b4b26936_001full.jpg

† Note that this cross-section does not indicate the economically viable mining range.

Exploration and Growth Potential

Drilling to date has intersected high-grade gold mineralisation extending well beyond the boundaries of the current Inferred Mineral Resource Estimate, underscoring significant potential for resource expansion. Several areas of the deposit, including 19 modelled high-grade shells, did not meet the drill-spacing requirements for Inferred classification. This is most notable in the southern portion of the system, including the entire R10 and R11 vein sets and portions of the R9 trend, where further infill drilling has the potential to incorporate additional high-grade mineralisation into future resource estimates.

Key examples of high-grade mineralisation, remaining open and outside the resource estimate, include:

Within the modelled R10 trend: 3.00m at 10.09 g/t Au, including 1.00m at 27.35 g/t Au (25RDD232)1Within the modelled R11 trend: 6.70m at 30.41 g/t Au, including 2.75m at 72.56 g/t Au (25RDD252); 7.70m at 16.26 g/t Au, including 0.70m at 121.70 g/t Au (25RDD252); and 4.45m at 11.96 g/t Au (23RDD172)1,2Along strike and 250m outside the modelled R11 trend: 4.75m at 5.97 g/t Au, including 0.50m at 46.70 g/t Au and 1.20m at 55.70 g/t Au (23RDD159)3Along strike and 600m outside the modelled R9 trend: 1.20m at 13.83 g/t Au and 4.75m at 3.93 g/t Au, including 1.25m at 12.03 g/t Au (25RDD240)1These results demonstrate extensive high-grade gold mineralisation well beyond the current resource footprint, and along with the potential to discover additional veins, highlight the upside for future resource expansion.

Figure 2: Drill hole assays, MRE constrained model (grey), and modelled high-grade shells (red) highlighting significant drill intercepts outside of completed MRE from the Regnault gold deposit of the Frotet Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/278193_b024c431b4b26936_002full.jpg

† Assay intervals reported above are core lengths, true widths have not been determined.
† Note that this cross-section does not indicate the economically viable mining range.

About Frotet Project

The Project covers 38,930 hectares of the Frotet-Evans greenstone belt within the Opatica geological sub-province of Quebec. The property is adjacent to the past-producing Troilus Gold Corporation's Au-Cu mine (9.32Moz Au Indicated Mineral Resource) and covers several major deformation zones associated with known orogenic gold prospects, as well as stratigraphy hosting VMS deposits elsewhere in the belt. Kenorland initially staked the Project in 2017 and then entered into a joint venture and earn-in agreement with Sumitomo in 2018.

The Project includes the Regnault gold deposit, a greenfields discovery made by Kenorland and Sumitomo in 2020 following two years of systematic exploration. Since the initial discovery, Regnault has seen extensive exploration, totaling 131,713 metres of drilling (296 drill holes) to date and hosts an Inferred Mineral Resource of 14.5 Mt at 5.47 g/t Au for 2.55 Moz of gold.

On February 19, 2024, Kenorland closed a transaction to exchange its 20% participating interest in the Frotet Joint Venture with Sumitomo to a 4% NSR Royalty.

The Project is located 100 kilometres to the north of Chibougamau, Quebec. Favorable infrastructure exists in the project area with an extensive forestry road network as well as the Route-du-Nord crossing the southwestern portion of the property. A power transmission line also crosses through the property which supplied power to the past producing Troilus mine.

Figure 3: Map showing Kenorland's 4% NSR royalty interest at Frotet

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/278193_b024c431b4b26936_003full.jpg

*Technical Report and Mineral Resource Estimate on the Troilus Gold-Copper Project, Mineral Resources Effective Date: 02 October 2023
** Mineral Resource Estimate on Moblan Lithium Project, Mineral Resources Effective Date: 21 March, 2023
***The Frotet Royalty is subject to the following buy down rights in favour of Sumitomo:
A 0.25% royalty interest may be purchased for a C$3,000,000 cash payment to Kenorland within five (5) years of the grant of the Frotet Royalty
A 0.50% royalty interest may be purchased for a C$10,000,000 cash payment to Kenorland within ten (10) years of the grant of the Frotet Royalty
In the event Sumitomo exercises the foregoing buy down rights, the Frotet Royalty would be reduced to an uncapped 3.25% net smelter return royalty on all minerals extracted from the Project

Qualified Person

The Mineral Resource estimate was prepared by Marie-Christine Gosselin, P.Geo., géo., a Qualified Person with SLR Consulting (Canada) Ltd. and a registered member of the Ordre des Géologues du Québec (OGQ #02060). It is reported in accordance with the CIM Definition Standards (2014). The scientific and technical information in this news release related to the Frotet Mineral Resource estimate has been reviewed and approved by Ms. Gosselin, who is independent of Kenorland Minerals Ltd. and Sumitomo Metal Mining Canada Ltd.

SLR is unaware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could materially affect the Mineral Resource estimate.

Cédric Mayer, M.Sc., P.Geo. (OGQ #02385), Senior Project Geologist at Kenorland, a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

A technical report will be prepared by Qualified Persons in accordance with the requirements of NI 43-101 and will be filed on SEDAR+ within 45 days of this press release.

References

1 See press release dated June 17, 2025
2 See press release dated August 8, 2023
3 See press release dated May 31, 2023

About Kenorland Minerals Ltd.

Kenorland Minerals Ltd. (TSXV: KLD) is a well-financed mineral exploration company focused on project generation and early-stage exploration in North America. Kenorland's exploration strategy is to advance greenfields projects through systematic, property-wide, phased exploration surveys financed primarily through exploration partnerships including option to joint venture agreements. Kenorland holds a 4% net smelter return royalty on the Frotet Project in Quebec, which is owned by Sumitomo Metal Mining Canada Ltd. The Frotet Project hosts the Regnault gold system, a greenfields discovery made by Kenorland and Sumitomo Metal Mining Canada Ltd. in 2020, which contains an Inferred Mineral Resource of 14.5 Mt at 5.47 g/t Au for 2.55 Moz of gold. Kenorland is based in Vancouver, British Columbia, Canada.

Further information can be found on the Company's website www.kenorlandminerals.com.

On behalf of the Board of Directors,

Zach Flood
President, CEO & Director

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This news release may contain information about adjacent properties on which the Company does not have an interest. The Qualified Person has not verified the information, and it is not necessarily indicative of the mineralisation on the Project.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278193

Source: Kenorland Minerals Ltd.

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SummaryThe S&P 500 has delivered an 80% return over the past three years, significantly outperforming energy stocks.Despite a 7% year-to-date gain, energy remains an underperformer compared to the broader market's 18% rise.Energy sector volatility, driven by weak demand and OPEC supply actions, has challenged investors throughout the year.I expect a special segment within energy to deliver substantial alpha in 2026 and beyond, surpassing traditional sector returns. SilverV/iStock via Getty Images

Introduction The year hasn't ended yet. However, we're getting close to New Year's Eve, which means assessing the performance isn't the worst thing in the world.

So far, the market is up roughly 18%, which is spectacular. If

Analyst’s Disclosure:I/we have a beneficial long position in the shares of TPL, LB, CNQ 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.

Appointment Strengthens Sales Execution as Company Focuses on Scaling Revenue and Efficiency

TORONTO, ON / ACCESS Newswire / December 16, 2025 / Nextech3D.ai (CSE:NTAR)(OTCQX:NEXCF)(FSE:1SS), an AI-first technology company providing event technology, 3D modeling, and spatial computing solutions, announced today that it has appointed James McGuinness as Global Head of Sales. Mr. McGuinness will lead the Company's sales organization as Nextech focuses on expanding its commercial operations into 2026.

Mr. McGuinness brings more than 21 years of experience in technology sales, including building and scaling sales teams at early-stage and growth-stage companies. Since joining Nextech, he has hired two additional sales professionals, completing a fully staffed sales organization that includes long-tenured Nextech team members as well as new hires.

The Company's current sales team includes a senior sales leader with ten years of experience, five of which have been with Nextech; a sales assistant with five years at the Company; a sales engineer with four years of tenure; one additional experienced sales representative; and two junior sales representatives.

"The appointment of James McGuinness strengthens our sales leadership at a time when we are focused on execution and revenue growth," said Evan Gappelberg, CEO of Nextech3D.ai. "James has a background in building disciplined sales teams and scalable processes, and his experience complements the institutional knowledge of our existing sales organization."

Mr. McGuinness' prior experience includes serving as a founding salesperson for GeoTrust Europe, which was later acquired by VeriSign; building and leading sales development teams at SPSS Europe prior to its acquisition by IBM; and being one of the founding salespeople at INXPO, an early provider of virtual event technology. He was also a member of the founding sales team for LinkedIn Sales Navigator and previously helped grow YCharts' revenue from approximately $1.6 million to approximately $20 million before the company was acquired in 2020.

In addition, Mr. McGuinness has trained more than 150 sales professionals during his career, including recent work running sales bootcamps that placed more than 20 junior sales representatives into new roles in 2025.

"As we look toward 2026, our objective is to convert product development into consistent and scalable revenue," added Gappelberg. "Expanding our sales organization is intended to support that objective while maintaining discipline around efficiency and margins."

The Company stated that the expanded sales team will focus on supporting demand for Nextech's event technology platform and related software offerings.

About Nextech3D.ai

Nextech3D.ai is an AI-powered technology company specializing in 3D asset generation, spatial computing, and comprehensive AI Event Solutions for virtual, hybrid, and in-person experiences. Through Map Dynamics, Eventdex, and Krafty Labs, Nextech3D.ai delivers a unified global platform for conferences, expos, corporate activations, learning programs, and enterprise engagement.

Website: www.Nextech3D.ai
Investor Relations: [email protected]

For further information, please visit: www.Nextech3D.ai.

Investor Relations: [email protected]

For more information, visit Nextech3D.ai.

Sign up for Investor News and Info - Click Here

Evan Gappelberg /CEO and Director

866-ARITIZE (274-8493)

Forward-Looking Statements

Forward-looking Statements The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE: NexTech3D.AI Corp.

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Meta is making 'AI core to how we work' with the help of tools from Google and OpenAI

By

Jyoti Mann

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Meta CEO Mark Zuckerberg is all in on AI.

Nic Coury/AP

2025-12-16T12:31:11.058Z

Meta is adopting an "AI-first" strategy by offering staffers access to a growing list of AI tools.
Employees can now use AI models like Google's Gemini 3 Pro and OpenAI's GPT-5 to boost productivity.
Meta also migrated its productivity suite to Google's Workspace to "unlock AI-driven capabilities."

In its push to create an "AI-first" workplace, Meta is expanding employees' access to tools from rivals such as Google and OpenAI, Business Insider has learned.

The social media giant has been encouraging employees to integrate AI tools into nearly everything they do, according to multiple internal documents and posts seen by Business Insider.

One of the company's priorities is to "make AI core to how we work," Meta's chief information officer, Atish Banerjea, told employees in a June memo outlining a plan to use Meta's own models — which use the naming convention "Llama" — alongside products from other firms.

In November, a Meta engineer said in an internal post that all employees have access to Google's Gemini 3 Pro and OpenAI's ChatGPT-5. The post included a list of AI tools Meta employees have access to, including their use cases. Business Insider has recreated the list below.

ToolUse caseAgentic AutoA “top level” agent with tools and sub-agents.Advanced AutoAn experimental agent that “handles more complex tasks.”Agentic Auto with GPT-5 Thinking“Top level” agent that thinks longer for better answers.iLlamaA "fast" Llama 3.1 model optimized for Meta internal questions.Llama 4 MaverickLlama 4 Maverick model with no Meta internal content.GPT-4.1An "advanced" language model with no Meta internal context.Gemini 3 ProAn advanced language model with no Meta internal context.[Deprecated] Classic AgentClassic Agent - Legacy Agent mode, now obsoleted by Agentic Auto. Will be removed soon.DevmateAI coding assistant with development environment.A Meta spokesperson confirmed the revamped suite of AI tools and pointed to an earlier comment shared with Business Insider about AI adoption, stating: "It's well-known that this is a priority, and we're focused on using AI to help employees with their day-to-day work."

The social media giant opened the floodgates to rival AI models in June.

Among those is an internal coding tool called Devmate that uses Anthropic's Claude, Business Insider previously reported. Google's Gemini and NotebookLM Pro are also available across the company to help employees "work smarter and have more impact," Banerjea told employees in the June memo.

Meta has invested tens of billions into its own consumer-facing AI models, and employees have access to an internal AI assistant called Metamate, which is built on its Llama models.

After Meta struck a deal over the summer the startup Midjourney to weave its AI-image generator into its products and models, the company made the tool available to employees in October for "concept and production uses" to speed up design work and creative prototyping, according to an internal post ahead of the rollout, seen by Business Insider.

Gemini isn't the only Google tool Meta is embracing. The company migrated its internal productivity suite over the summer to Google Workspace — including Chat, Gmail, Docs, and Drive — describing the move in a June memo as a way to "unlock AI-driven capabilities" and better integrate with its expanding toolset.

On the engineering side, Meta has expanded access to agentic coding systems, adding Google's Gemini 3 Pro and exploring new integrations with tools like OpenAI's Codex CLI and Google's Gemini CLI. "Rather than focusing on specific solutions, our strategy centers on outcomes: increasing productivity, accelerating development, and ensuring you have access to the best agentic coding experiences," Reality Labs executive Maher Saba told employees in a November memo seen by Business Insider.

To encourage adoption and experimentation, Meta has gamified the use of AI, Business Insider previously reported. Earlier this year, it launched an internal game called "Level Up," which rewards employees with badges for using AI in different ways. Leaders are also tying performance to results achieved through AI, rewarding those who can prove "AI-driven impact" this year, and including it as part of performance reviews in 2026.

Have a tip? Contact this reporter via email at [email protected] or Signal at jyotimann.11. Use a personal email address and a nonwork device; here's our guide to sharing information securely.

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Singapore-based StraitsX plans to bring its Singapore dollar-backed XSGD and US dollar-backed XUSD to the Solana blockchain by early 2026.

The rollout, announced in collaboration with the Solana Foundation, will allow users to settle transactions in Singapore dollar- and US dollar-backed stablecoins using Solana’s high-speed, low-cost infrastructure, the issuer said in a Tuesday blog post.

“Launching XSGD and XUSD together on Solana will be game-changing. It unites CEX support, AMM liquidity, lending pools, and everyday payments on a single high-performance chain,” said Tianwei Liu, co-founder and CEO of StraitsX.

StraitsX said the expansion is aimed at supporting growing demand from digital commerce platforms and AI-native applications. Solana (SOL) has increasingly been used for x402-based payments, an interoperability standard designed to enable automated transactions between software agents.

XSGD’s onchain usage metrics. Source: StraitsXXSGD and XUSD top $18 billion in onchain volumeXSGD (XSGD) is already live across several blockchains, including Ether (ETH), Polygon (MATIC), Avalanche (AVAX), Arbitrum (ARB), Zilliqa (ZIL), Hedera (HBAR) and the XRP Ledger, while XUSD (XUSD) is available on Ethereum and BNB Smart Chain.

XSGD has a market cap of $13 million and a circulating supply of 16.7 million tokens, according to CoinMarketCap. XUSD has a market cap of $52 million.

The two stablecoins have processed more than $18 billion in combined onchain transaction volume, per the announcement.

Both stablecoins natively support the x402 standard. That functionality will carry over to Solana, enabling use cases such as onchain foreign exchange between SGD and USD, automated market maker liquidity, lending markets and institutional-grade payment flows.

StraitsX is a licensed Major Payment Institution operating under the Monetary Authority of Singapore (MAS)’s stablecoin framework. Both XSGD and XUSD have “been acknowledged by the MAS to be compliant with the upcoming stablecoin regulatory framework,” according to their white papers.

Grab explores stablecoin payments with StraitsX in Southeast AsiaLast month, Grab, Southeast Asia’s largest super-app, signed an exploratory memorandum of understanding with StraitsX to build a Web3-enabled settlement layer that integrates digital wallets, programmable payments and stablecoin clearing into everyday consumer transactions.

If approved by regulators, the system will allow Grab users across Southeast Asia to hold and spend XSGD and XUSD directly within the app.

Magazine: 2026 is the year of pragmatic privacy in crypto — Canton, Zcash and more

It's that time of year again when industry analysts set their outlook for the year ahead. Bitwise Chief Investment Officer Matt Hougan is no exception, teasing what he described as three of the most important themes from the crypto asset manager's forthcoming 10 predictions for 2026, including bitcoin all-time highs, lower volatility, and falling correlations.

Bitcoin has traditionally followed a pattern of three strong years followed by a sharp pullback, implying 2026 should be bearish. With bitcoin down more than 30% from its Oct. 6 peak of around $126,000 and most altcoins faring worse, that's a view widely held by current market participants.

However, Hougan does not see that outcome materializing this time around. In a note to clients late Monday, he argued that bitcoin is likely to defy its historical four-year market cycle and reach new all-time highs in 2026, as structural changes reshape the asset's behavior, though he stopped short of offering a specific price target for the peak.

The forces that once drove the cycle are now significantly weaker, he said, pointing to the diminishing impact of successive bitcoin halvings, expectations for falling interest rates in 2026 compared to the rises in 2018 and 2022, and a reduction in leverage-driven blowups following record liquidations in October and improving regulation.

More importantly, Hougan said, institutional adoption will accelerate in 2026 as platforms such as Morgan Stanley, Wells Fargo, and Merrill Lynch begin allocating, while Wall Street and fintech firms increasingly adopt digital assets following the pro-crypto regulatory shift under the Trump administration.

Volatility and correlations to decline
Hougan also said bitcoin's volatility has been steadily declining and is likely to remain lower in 2026. Despite concerns from some investors that bitcoin is simply too volatile compared to more traditional assets, he noted that bitcoin was less volatile than Nvidia stock throughout 2025. Hougan said the trend reflects a broad derisking of the asset and a more diversified investor base driven by traditional investment vehicles such as exchange-traded funds, with Bitwise expecting that dynamic to continue next year.

Bitcoin vs. Nvidia 1-year rolling annualized volatility. Image: Bitwise.

In addition, Hougan said bitcoin's correlation with equities should fall in 2026. While bitcoin is often described as highly correlated with the stock market, he noted that rolling correlation data shows it has rarely exceeded levels considered statistically meaningful. Bitwise expects crypto-specific drivers, including regulatory progress and institutional inflows, to support digital assets even if equities face pressure from valuation concerns and slower economic growth.

Taken together, Hougan said the outlook points to "strong returns, less volatility, and lower correlations" — a trifecta he described as particularly attractive for portfolio construction. If those conditions play out, he expects tens of billions of dollars in new institutional investment to enter the market.

Hindsight 2025
Looking back, Bitwise's 2025 predictions were directionally correct on institutional and regulatory momentum but too aggressive on price and scale. Bitcoin, Ethereum, and Solana did set new all-time highs during the year, validating Bitwise's broad bullish thesis, but none came close to the specific targets of $200,000, $7,000, and $750, respectively. U.S. Bitcoin ETF inflows are also unlikely to surpass 2024 levels, against Bitwise's expectations.

However, several of the firm's high-conviction market-structure calls did land, including Coinbase joining the S&P 500, Strategy entering the Nasdaq-100, and the U.S. Department of Labor backing away from its 2022 anti-crypto 401(k) guidance, while U.S. stablecoin legislation was also passed as expected.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Bitcoin price is under renewed pressure. BTC is down about 4% over the past 24 hours and nearly 10% over the past 30 days, as selling pressure builds across the crypto market. While traders debate rebound versus breakdown, a critical long-term level has now surfaced that could decide how Bitcoin ends the year.

Both price structure and cycle analysis are converging around the same zone. If Bitcoin fails to defend it before the year closes, downside risks increase sharply.

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A Make-or-Break Bitcoin Price Level Comes Into FocusBitcoin is currently trading close to the 2-Year Simple Moving Average (2Y SMA), which sits near $82,800. This level is not just another support. It is one of Bitcoin’s most important long-term cycle markers.

The 2Y SMA is calculated using daily closes, but it is interpreted on a monthly closing basis for cycle analysis. What matters is not intraday price action, but where Bitcoin closes the month.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Monthly BTC Data: TradingViewLast time when the Bitcoin price dropped under this SMA line in mid-2022, it corrected an additional 51% before attempting an upmove. That is why December 31 matters.

When the December monthly candle closes, the market locks in a full month of data. That candle becomes the official signal used by analysts to judge whether Bitcoin is holding a long-term trend or entering deeper structural weakness.

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🚨 Bitcoin in a critical zone on the 2Y SMA Multiplier

The 2Y SMA Multiplier is one of Bitcoin’s most respected cycle charts — and the current moment demands attention.

📍 Today, BTC is trading very close to the 2Y SMA, currently at $82,800.

📉 History matters:
Whenever… pic.twitter.com/jmIW9RSSGg

— Alphractal (@Alphractal) December 16, 2025
Historically, monthly closes below the 2Y SMA have marked extended bearish phases. Monthly defenses or reclaims above it have signaled cycle survival. Once the month closes, there might be no second chance.

Analysts tracking long-term Bitcoin cycles have flagged this same level as a structural line in the sand. The key takeaway is simple: Bitcoin needs to stay above this zone into month-end to avoid printing a confirmed breakdown signal.

Why This Support Is Under Pressure Right NowThe problem is not just technical. On-chain data shows growing stress beneath the surface.

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Long-term holders, defined as wallets holding Bitcoin for more than 155 days, have been increasing their selling activity throughout December. According to long-term holder net position change data, net outflows rose from roughly 116,000 BTC earlier in the month to nearly 269,000 BTC by December 15.

Long-Term Investors Keep Selling: GlassnodeThat is an increase in selling pressure of over 130% in just two weeks.

These are not short-term traders. This group typically sells only during periods of conviction or risk reduction. Their continued distribution adds weight to the downside and makes defending key support levels harder.

When long-term holders sell into weakness, it reduces the margin for error around critical price zones like the 2-year SMA.

Sponsored

Bitcoin Price Levels That Define Rebound or BreakdownIf Bitcoin fails to hold the $82,800–$81,100 region into the December close, downside risks expand quickly.

A confirmed break below this zone opens the door toward $73,300, which sits roughly 15% lower than the current level and sets the next major downside projection on the chart.

Bitcoin Price Analysis: TradingViewOn the upside, Bitcoin must reclaim $88,200 to reduce immediate pressure. A sustained move above $94,500 would be needed to restore bullish structure and shift momentum back in favor of buyers.

Until then, Bitcoin remains trapped between long-term cycle support and rising selling pressure.

Journalist

Posted: December 16, 2025

The final weeks of 2025 have confirmed the fears of a looming crypto market winter, defined by a period of volatility and falling prices.

As global crypto volatility peaked and major coin prices tumbled, the sector’s two giants, Bitcoin and Ethereum, became primary casualties.

Bitcoin and Ethereum ETF suffer losses
From mid-November to mid-December, US spot Bitcoin [BTC] and Ethereum [ETH] ETFs collectively bled a staggering $4.6 billion in net outflows. 

Yet, in the shadow of this mass exodus, a single, US-listed spot XRP ETF has quietly achieved an unbroken streak of consecutive net inflows.

Since their debut on the 13th of November, these funds have attracted nearly $1 billion in new capital in a month, contrasting sharply with the BTC and ETH panic.

XRP ETF vs. BTC ETF and ETH ETF
According to data from SoSoValue, Ripple [XRP] spot ETFs have attracted fresh capital every single trading session, with total net assets now climbing to about $1.12 billion.

Crucially, not a single day of net redemptions has been recorded across the five products.

Meanwhile, the incumbent crypto ETFs are facing mounting pressure.

Over the same 30-day window, US spot Bitcoin ETFs have hemorrhaged approximately $3.39 billion in net outflows, punctuated by severe individual episodes, such as the single-day withdrawal of roughly $903 million on the 20th of November.

This trend continued even on the 15th of December, when Farside Investors reported combined single-day outflows of $357.6 million for BTC ETFs and $224.8 million for Ethereum ETFs.

Execs weighing in
Expressing on this divergence, Ripple CEO Brad Garlinghouse noted, 

“<4 weeks, and XRP is now the fastest crypto Spot ETF to reach $1B in AUM (since ETH) in the US.”

For Garlinghouse, this divergence is not a market fluke, but the logical outcome of a rapidly maturing asset class.

In his comment, Garlinghouse also pointed out two key factors behind the surge in ETF inflows: strong demand for regulated crypto products and a growing investor focus on long-term stability.

He said that the rapid $1 billion inflow shows how much appetite there is for compliant crypto options.

Traditional finance giants like Vanguard have also made crypto available in retirement and standard trading accounts, opening the door to millions of everyday investors who don’t need technical knowledge.

This Garlinghouse believes to be the new “off-chain” investor group that values simplicity and regulation over speculation.

Echoing a similar sentiment, another X user  -Coach JV added, 

“XRP is the GOAT!”

Yet, despite the clear, structural demand evidenced by the data, this institutional confidence has yet to translate into a speculative price surge, creating the final great paradox of 2025.

Token’s price action and more
While Bitcoin and Ethereum are posting heavy losses, with BTC down by 3.59% to $86,561.58 and ETH down by 6.1% to $2,947.47, XRP has also slipped 5.32% to $1.89 thanks to the broader market downturn.

In fact, even with this positive ETF momentum, the price of XRP has remained stubbornly flat near the $2 mark.

Therefore, with 2026 on the horizon, it will be interesting to see whether this trend is merely a short-term anomaly or the beginning of a long-term institutional shift.

Final Thoughts

The inflow-outflow contrast between XRP and BTC/ETH highlights a maturing market, one where capital rotation mirrors TradFi behaviors.
XRP’s momentum is emerging at a time when crypto narratives are fractured, making it the “stability anchor” that the market lacks.

The weekly chart for Dogecoin shows a signal that could be of greater significance due to its rarity. Crypto analyst Cryptollica pointed to DOGE’s weekly RSI tagging roughly 33.6 and claimed that level has shown up only four times in 11 years. “DOGE WEEKLY RSI. 4 times in 11 years ..,” he posted.

What This Means For The Dogecoin Price
DOGE, for context, was trading around $0.129 at the time of writing, down roughly mid-single digits on the day.

The hook is simple: a weekly RSI that low usually means sellers have been in control for a while — and on a weekly timeframe, that kind of pressure tends to carry more weight than intraday noise. This isn’t “RSI brushed 30 on a 15-minute candle.” It’s slower, heavier, and tied to the bigger trend.

Dogecoin’s weekly chart flashes rare RSI signal | Source: X @Cryptollica
Still, it’s not quite as plug-and-play as the screenshot makes it look. Cryptollica’s point is that the same zone showed up around (1) early May 2015, (2) March 2020, (3) mid-June 2022, and (4) now. The post is the spark; what traders actually care about is what happened next. And this is where Dogecoin’s history gets… very Dogecoin.

On May 6, 2015, DOGE was quoted around $0.000087. Beyond the price being basically dust, the backdrop was messy: weeks earlier, Dogecoin co-founder Jackson Palmer said he was stepping away from the crypto community, calling out what he described as a “toxic” culture.

The bounce didn’t show up on schedule. DOGE drifted for a long time, then later caught the 2017–18 mania, briefly touching $0.017 on Jan. 7, 2018. From roughly $0.000087, that’s about +19,000% to that local-cycle high — a good reminder that “oversold” on a weekly chart can show up early and still end up pointing the right way.

In mid-March 2020 (peak COVID panic), DOGE traded around $0.001537. When the panic eased and liquidity returned to markets, DOGE went on to print its next cycle top at $0.7316 on May 8, 2021.

That’s roughly +47,000% from the March 2020 level to the 2021 high. It’s also the stretch where DOGE stopped being “just” a joke coin and started behaving like a retail risk-on barometer — with Musk-era attention pouring gasoline on it.

By mid-June 2022, the bear-market washout was in full effect. DOGE was around $0.053. The recovery came in waves: a late-2022 pop tied to Musk/Twitter speculation and broader risk-on bursts, then a bigger 2024 meme-led rip.

By March 28, 2024, DOGE was back around $0.220 — roughly +315% from the June 2022 level to the next notable local high. Not 2021-level insanity, but still a real multi-x.

And now, as of Tuesday, Dec. 16, 2025, Dogecoin was changing hands around $0.129. The “signal” crowd will look at that weekly RSI print and argue the market is back in the same psychological neighborhood as those prior exhaustion points.

The bullish case writes itself: if this weekly RSI zone has tended to show up near seller fatigue in the past, then seeing it again could mean risk/reward is quietly shifting. Not a promise — more like a reason to stop ignoring DOGE and start watching it.

But RSI isn’t a timing tool. Oversold can stay oversold. Weekly signals can hang around, whip traders around, or get flattened if broader risk keeps leaking.

For now, it’s a setup, not an outcome. If DOGE starts reclaiming levels and holding them, the “rare signal” crowd will take the victory lap. If it keeps bleeding, this gets filed under interesting, early, and painful — like a lot of trading ideas.

At press time, DOGE traded at $0.12878.

DOGE drops below key support zone, 1-week chart | Source: DOGEUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

Solana Mobile Seeker dApps have changed how people make passive income. We will now move on to the remaining dApps that we didn’t include in Part 1.
Let’s look into six more of these Solana Mobile Seeker dApps for passive income:

1) EnsoFi
EnsoFi is a multi-chain DeFi platform that lets you lend, borrow, stake, and earn all under one roof. It works across blockchains like Solana and more. You can supply assets (like USDC or liquid staking tokens), earn interest, and sometimes get boosted returns if you participate in campaigns on Seeker.

EnsoFi just launched a new mobile version on the Solana DApp Store, offering extra point boosts for Seeker users.

EnsoFi Mobile dApp Updated

A new version of EnsoFi Mobile is live on the Solana dApp Store. Update now to unlock a smoother, faster experience on your @solanamobile

What’s more, Seeker users get an exclusive +10% point boost with the updated app 📱

Don’t forget to leave a… pic.twitter.com/4ECDaVfssb

— EnsoFi (@Ensofi_xyz) September 24, 2025

Staking
2) Sol Strategies
SolStrategies is an easy-to-use native SOL staking and Solana validator, with no fees or complexities. It is for individuals who do not need liquid staking tokens or sophisticated DeFi applications to achieve consistent returns.

You stake SOL through SolStrategies’ Seed Vault and earn regular staking rewards. The setup is to keep fees low and may include MEV-enhanced rewards, thereby providing stakers with more value.

SolStrategies continues to support Solana staking infrastructure and remains a popular option for native staking among Solana Mobile Seeker users.

4/ The Solana Mobile validator, powered by @solstrategies, has been live and running for months.

It has zero fees and no cuts on MEV rewards, maximizing your returns.

Today, it has successfully staked over 520,000 SOL.https://t.co/N45bQOLkEM

— Aero (@AeroPool_) December 9, 2025

3) Jito
Jito lets you stake SOL and receive JitoSOL, a liquid version of your stake that earns rewards from both staking and MEV (extra value from transaction ordering).

Hold JitoSOL; its value increases over time as it accrues rewards. You can also use it in other DeFi apps. Seeker dApp list features Jito and is widely recommended for earning MEV and staking yield.

BAM is NOT a centralized sequencer.

It’s a 𝗱𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲𝗱 𝘀𝗰𝗵𝗲𝗱𝘂𝗹𝗶𝗻𝗴 𝗹𝗮𝘆𝗲𝗿 designed to prevent monopolistic control over transaction ordering on Solana! 💥

The latest 𝗕𝗔𝗠 𝗦𝗲𝗿𝗶𝗲𝘀 explores more.

Now LIVE on the Jito YouTube channel!

🔗📺️⬇️ pic.twitter.com/Ylx2sFyNe5

— Jito (@jito_sol) December 8, 2025

4) Marinade Finance
Marinade lets you stake SOL to earn mSOL, a liquid token that earns rewards and is useful across other DeFi apps. You can earn when you Stake SOL → get mSOL → hold or put it in other apps for extra yield. Marinade is still one of the most trusted liquid staking protocols on Solana.

Did you know our $USDG recipe is designed so that 100% of staking rewards go to YOU?

The inflation, MEV & priority fees are all yours.

Marinade takes 0%

Basically, you earn validator level rewards except we do the hard part for you 🤝 pic.twitter.com/a1svoMuwu6

— Marinade 🛡️ (@MarinadeFinance) December 8, 2025

Mining and store of value 
5) Ore
ORE is a mobile mining dApp right on the Seeker store. It lets you mine a token by running the app, no rigs or desktops needed. You can mine ORE on your mobile device, or stake ORE to earn a share of protocol mining fees (around 10%). Once staked, this becomes one of the most hands-off income options available.

ORE has seen growing adoption among Solana Mobile Seeker users, with increased focus on decentralization and long-term sustainability.

ORE has officially frozen the mint program.

This is a major milestone and security upgrade for token holders. The max supply has been made immutable and emissions rate is permanently capped.

Here’s what this means for users… 🧵 pic.twitter.com/wKCg4JT4cG

— ORE (@OREsupply) December 9, 2025

Social Trading
6) Token.com
Token.com blends social networking and trading. You follow creators, mirror trades, and earn rewards. It offers social experience, trading, and passive income in one. You can get rewards from copy trading, creator perks, and airdrops. Token.com went live on the Solana dApp Store for Seekers.

LIVE: We are now available for Seekers on the Solana dApp Store!

1/ Built in collaboration with @solanamobile for Seeker Season, https://t.co/alN60ULuFH explores what happens when social discovery meets real trading. One feed, one tap: trade what you believe in, instantly.… pic.twitter.com/qe3r0AUbCE

— token.com (@tokencom_) November 3, 2025

Conclusion
Solana Mobile Seeker dApps are bringing crypto income to your pocket. From staking and lending to mining and social trading, there’s something for users of all kinds. Once you set things up, you don’t have to watch it constantly.

Disclaimer
The information provided by Altcoin Buzz is not financial advice. It is intended solely for educational, entertainment, and informational purposes. Any opinions or strategies shared are those of the writer/reviewers, and their risk tolerance may differ from yours. We are not liable for any losses you may incur from investments related to the information given. Bitcoin and other cryptocurrencies are high-risk assets; therefore, conduct thorough due diligence. Copyright Altcoin Buzz Pte Ltd.

Bitcoin “sharks,” defined as entities holding between 100 and 1,000 BTC, have significantly increased their exposure over the past week, adding more than 54,000 Bitcoin as on-chain data points to renewed accumulation among mid-sized holders.

Bitcoin sharks collectively added approximately 54,000 BTC over the past seven days, lifting their total holdings to around 3.575 million BTC, per Glassnode data. The move marks one of the strongest weekly accumulation phases for this cohort in recent months and suggests growing conviction despite recent market volatility.

Bitcoin shark net position change. Source: Glassnode
Bitcoin price overview
At the time of publication, Bitcoin was trading at $87,060, down 2.85% over the past 24 hours, and a further 3.53% in the previous week. Despite the short-term pullback, on-chain positioning indicates that sharks continued to absorb supply rather than distribute into price weakness.

Glassnode’s Shark Net Position Change metric shows a sharp positive spike, reflecting net inflows of Bitcoin into wallets holding between 100 and 1,000 BTC. Historically, sustained accumulation by this cohort has often coincided with periods of consolidation or early-stage trend reversals, as sharks tend to scale positions ahead of broader market participation.

While large institutional flows and ETF activity have dominated headlines in 2025, the behavior of mid-sized holders offers additional insight into underlying market sentiment.

Notably, the recent accumulation occurred as Bitcoin traded below its recent highs, suggesting sharks were willing to add exposure during short-term price weakness rather than waiting for a clear breakout. This pattern contrasts with retail behavior, which historically becomes more active during periods of price acceleration.

If the accumulation trend persists, it could provide a supportive backdrop for Bitcoin’s price structure in the near term. However, analysts caution that broader macro conditions and liquidity dynamics remain key variables, particularly as volatility continues to shape near-term market direction.

TLDR:

PYTH’s daily chart shows a falling wedge, signaling potential bullish reversal above $0.06.
Price compression and reduced selling suggest stabilization and accumulation in the market.
Monthly $PYTH buybacks inject consistent demand, gradually reducing circulating supply.
Initial breakout targets $0.08, with a full wedge move potentially reaching $0.10+.

PYTH Network ($PYTH) is showing technical signs that may lead to a notable price reversal. 

The daily chart illustrates a clear falling wedge, a pattern often associated with bullish reversals following extended downtrends. Price action has shifted from prolonged selling into a phase of compression, signaling that downward momentum is weakening.

Currently trading between $0.05 and $0.06, PYTH is nearing the wedge apex, a critical zone where breakouts become statistically more likely. 

The pattern is defined by a steep descending resistance line and a more gradual descending support line. This setup reflects diminishing selling pressure, while every upward rebound steadily erodes resistance.

Falling Wedge Formation Signals Potential Upside
The wedge structure is showing lower highs constrained by descending resistance and lower lows supported by a slower trendline. 

This asymmetry indicates that bearish momentum is losing strength rather than intensifying. Months of decline have given way to controlled price compression, highlighting stabilization and early accumulation.

A tweet from Bitcoinsensus noted, “Classic bullish wedge forming on the daily chart. Price compressing between support/resistance. Approaching breakout zone after months of bleed. Potential move toward $0.10+ if confirmed.” 

$PYTH FALLING WEDGE BREAKOUT LOADING? 📈

Classic bullish wedge forming on the daily chart.

Price compressing between support/resistance

📊 Approaching breakout zone after months of bleed

Potential move toward $0.10+ if confirmed#PYTH #Crypto pic.twitter.com/eTmgxqt8c2

— Bitcoinsensus (@Bitcoinsensus) December 16, 2025

This points to a high-probability breakout area, with the potential for a shift from bearish to neutral-bullish market structure.

Support reactions have become stronger, as each dip meets faster stabilization. Rebounds continue to test resistance, slowly weakening it, while downside follow-through shows reduced momentum. 

If the breakout occurs, initial targets lie near $0.08, with a full measured move from the wedge potentially reaching $0.10+. Invalidation would occur only if price breaks decisively below wedge support.

Monthly Buybacks Boost Token Demand
PYTH Protocol has introduced a monthly $PYTH buyback program, allocating one-third of the DAO treasury to token repurchases. 

Funded through growing protocol revenue, this mechanism injects consistent demand while gradually reducing circulating supply. The buybacks demonstrate structured support for the token’s value.

Introducing the PYTH Reserve: turning real revenue growth into sustainable network value.

Pyth Pro surpassed $1M annualized revenue in its first month, and that revenue now fuels systematic PYTH purchases on the open market.

More adoption. More revenue. More value. Let’s dive… pic.twitter.com/NqodrKfGoK

— Pyth Network 🔮 (@PythNetwork) December 12, 2025

This move coincides with Pyth Pro surpassing $1 million in annual recurring revenue, signaling growing adoption of PYTH data feeds across DeFi, LST protocols, perps, gaming, and on-chain AI applications. 

The initiative aligns token value with the expanding ecosystem, reinforcing economic stability.

By actively deploying treasury funds for buybacks, PYTH is establishing a foundation that could attract developers, liquidity, and long-term holders. 

The protocol’s approach positions it not only as a leading oracle provider but also as an actively managed network focused on sustainable growth and demand support.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

TON Foundation has partnered with OpenPayd to power global fiat infrastructure for the TON Blockchain, streamlining treasury operations and accelerating ecosystem growth.

TON Foundation, a non-profit organization supporting the development of TON Blockchain, has selected OpenPayd to provide the global fiat infrastructure underpinning its expanding ecosystem.

OpenPayd’s universal financial infrastructure will serve as a core operational layer for TON Foundation, connecting international fiat rails through a single API. This enables TON Foundation to fund ecosystem grants more efficiently, streamline multi-currency treasury operations, and support the global community of builders contributing to TON’s development.

TON Foundation stewards the development and long-term vision of TON Blockchain, a decentralized, open-source blockchain native to Telegram. Embedded within Telegram’s interface, TON serves as the exclusive blockchain infrastructure powering the platform’s Mini App ecosystem, supporting more than 1 billion monthly active users. 

By integrating with OpenPayd, TON Foundation can now route fiat flows to and from ecosystem partners, community programs and operational activities across multiple regions, all through a unified infrastructure designed for international reach and rapid scale.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

The Dogecoin ecosystem responds after YoungHoon Kim, who claims the world’s highest IQ, publicly backs DOGE on X.

Newton Gitonga2 min read

16 December 2025, 11:20 AM

The Dogecoin ecosystem has garnered renewed attention following a high-profile entrepreneur's public praise of the meme coin. The comment sparked debate across the crypto market, given the figure’s recent engagement with multiple digital asset communities. As a result, Dogecoin supporters have framed the moment as another signal of the asset’s cultural reach.

Dogecoin Ecosystem Responds to Kim’s Public SupportYoungHoon Kim, who describes himself as the holder of the world’s highest IQ, said in an X post that he is a “big fan of DOGE.” The statement marked another step away from his earlier Bitcoin-only stance, according to reactions across the crypto community. Kim has recently broadened his public engagement with several major crypto ecosystems.

Kim claims an intelligence quotient of 276 and presents himself as the world’s smartest man. His X profile identifies him as an ambassador for World Liberty Financial and an advisor to the PENGU meme coin project. He has previously aligned himself with Bitcoin, but now appears to be diversifying his public interest.

The Dogecoin community responded quickly to Kim’s remarks. Supporters referenced his comments as validation of Dogecoin’s growing relevance within the crypto market. One user pointed out that Elon Musk, described as the world’s wealthiest individual, has also expressed support for DOGE, adding that broader recognition would follow.

The official Dogecoin ecosystem X account acknowledged Kim’s post directly. In a response, the account said it was difficult to argue with an IQ of 276. The interaction further fueled discussion about Dogecoin on social media platforms.

XRP, Bitcoin, and Questions Around IntentionsBefore engaging with the Dogecoin ecosystem, Kim spent time interacting with the XRP community. Last week, he disclosed plans to buy XRP, which drew positive responses from XRP supporters. He followed that disclosure with several bullish statements about the token.

Kim recently said XRP could reach $100 within five years, clarifying that the projection reflected his personal view. Over the weekend, he also stated that XRP could show short-term price movement. He previously suggested the asset might set a new all-time high before the end of the year.

His involvement with Bitcoin, XRP, and now Dogecoin has led to speculation about his motivations. These ecosystems rank among the largest and most vocal communities in crypto. Some participants have questioned whether the pattern reflects genuine conviction or a strategy to attract attention.

ENRICH your inbox with our best storiesDon’t miss out and join our newsletter to get the latest,
well-curated news from the crypto world!

Newton Gitonga

Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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Dogecoin (DOGE) News

Bitwise Solana ETF sees a $4.6M outflow as macro risks and thin liquidity pressure the market, though selective capital inflows persist.

Izabela Anna2 min read

16 December 2025, 11:27 AM

The Bitwise Solana Staking ETF has recorded its first outflow since launch, reflecting rising stress across crypto markets. The move comes as risk appetite weakens and institutions reassess exposure. 

Broader sentiment has shifted toward caution amid macro uncertainty and thin liquidity. Consequently, even products that showed steady demand now face pressure. The development highlights how quickly positioning can change during periods of extreme fear.

BSOL Breaks Its Inflow RunData from Farside Investors shows BSOL posted a $4.6 million outflow on December 16. The fund also recorded its lowest daily trading volume since launch. As a result, the ETF sold roughly 36,860 SOL during the session. This shift marked a clear change after weeks of consistent inflows. 

Significantly, BSOL offers direct Solana exposure alongside staking rewards, which had supported demand. However, market stress has started to outweigh yield considerations.

Institutional flows suggest positioning adjustments rather than a broad exit from Solana products. Besides the BSOL outflow, other Solana-linked funds showed mixed activity. 

Fidelity’s Solana ETF attracted $38.7 million, marking its strongest daily inflow so far. Additionally, total net inflows across spot Solana ETFs still reached $35.2 million. Hence, capital rotation appears selective rather than uniform.

Macro Concerns and Seasonal EffectsAnalysts link the BSOL outflow to macro risks and calendar effects. Expectations around a possible Bank of Japan rate hike have increased volatility across global markets. 

Consequently, institutions have trimmed exposure ahead of key policy signals. Moreover, the approaching holiday period often reduces trading volumes. Lower liquidity can amplify price moves and raise risk management concerns. Hence, some funds have opted for defensive adjustments.

Solana Price Holds Key Support LevelsSolana traded near $128 after recent declines, extending weekly losses. Analyst Matthew Dixon highlighted the $120 to $125 zone as a major support area. He noted this range aligns with prior consolidation and a psychological threshold. RSI readings near 38 suggest selling pressure has slowed. Historically, Solana bottoms often form closer to 30 to 35 RSI.

If support holds and Bitcoin remains stable, Dixon expects a relief bounce toward $145 to $155. Additionally, stronger momentum could push prices toward $170 to $180, which marks a prior breakdown zone. 

However, he stressed this would still represent a lower high. Conversely, a daily close below $120 could open a move toward $105 to $110. In extreme conditions, prices could test $95 to $100, which he views as long-term accumulation territory.

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Izabela Anna

Izabela Anna is a knowledgeable freelance journalist, who boasts over five years of experience covering the cryptocurrency market. Her tenure has seen her navigate through the ebbs and flows of multiple market cycles, giving her a deep understanding within. Her journalistic focus lies in dissecting price action dynamics, scrutinizing the on-chain landscape, and providing insights from a technical perspective, making her a trusted voice in the realm of cryptocurrency reporting.

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Latest Solana (SOL) News Today

Journalist

Posted: December 16, 2025

Michael Saylor’s latest aggressive Bitcoin purchases have left analysts with more speculation than solid answers. 

On the 15th of December, the firm bought 10.6K BTC, worth over $980 million. Last week, it acquired $962 million in Bitcoin.

This translated to approximately $2 billion in Bitcoin [BTC] scoops in just two weeks, and Strategy’s cumulative investment in the crypto officially crossed $50 billion. 

Source: X

So, why go all in despite the pending threat of MSCI index exclusion and potential outflows? Why scale BTC buys if you can be forced to liquidate them if mNAV slips below 1x?  

According to analysts, Saylor was positioning for something bigger. 

Michael Saylor’s new Bitcoin bet
In fact, the pace of accumulation of about 10K BTC per week signalled a “sense of urgency,” noted one analyst, Peter Duan. He posed, 

“MSTR slamming the ATM with $2B of common shares in two weeks feels less like routine funding and more like a sense of urgency. Something mega bullish might be coming.”

The bold bet? A Bitcoin bank or structured BTC-backed lending programs with established banks like JPMorgan, according to analyst Hermes Lux. 

Lux added, 

This is the main reason Saylor is so heavily buying these past two weeks, which will likely continue through the remainder of the year at >10k BTC per week for as long as possible.” 

He concluded, 

“The more BTC $MSTR owns, the better this works for the banks, and the more revenue will be generated by Strategy.” 

Lux noted that banks are already preparing for this ahead of the passage of the crypto market structure bill by early 2026. According to him, the MSTR stock will be the net beneficiary. 

Source: X

Well, this was not far-fetched. Saylor recently said that loaning BTC to banks would be the ‘endgame’ and the ‘biggest opportunity.’  

“I think the big idea, big opportunity and end-game is that we will reach a point where major banks will allow you to deposit the BTC and they’ll give you 500-700 basis points of yield against it.” 

He floated a similar idea during the Bitcoin MENA conference. 

Critics warn of MSTR dilution
The recent BTC purchases have been largely funded by the sale of MSTR stock. In fact, for the latest bid, Strategy sold $888 million worth of MSTR shares and $82 million of STRD preferred stocks to buy BTC. 

Some supported the firm’s aggressive move to acquire as much BTC as possible during the current correction. However, critics slammed the firm for the MSTR stock dilution. 

Bart Mol, an analyst, posed,

“What’s the point of issuing common stock when mNAV is at best at 1.14? Hoping we’ve seen the bottom and Bitcoin rises in the coming months? Meanwhile, normal shareholders are getting diluted into oblivion.”

Source: Strategy

That said, MSTR stock dropped 8.14% after the update at closed at $162 on Monday. The decline also followed BTC’s weakening by 2% to $85k. 

Final Thoughts 

Saylor’s buying spree highlighted how conviction-driven strategies can reshape both balance sheets and market expectations.
Whether this pace signals preparation for a new institutional use case, or simply amplifies risk, remains uncertain.

Discover the single catalyst that could send Super Micro stock soaring once again.

Super Micro Computer (SMCI 2.95%) is facing margin pressure and volatility, but new AI factory clusters, federal sector expansion, and stronger revenue guidance point toward a possible major rebound. I highlight the catalysts, risks, and why analysts still expect almost double upside from here.

Stock prices used were the market prices of Dec. 2, 2025. The video was published on Dec. 8, 2025.

Rick Orford has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Rick Orford is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

December 16, 2025 04:50 ET

 | Source:

The Magnum Ice Cream Company N.V.

The Magnum Ice Cream Company N.V.

(TMICC or the Company)

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES (PDMRS)

The Company notifies the following acquisitions of ordinary shares of EUR3.50 each (Shares) of PDMRs.

DirectorNumber of SharesJean François van Boxmeer15,000Sandeep Desai9,040 This announcement is made in accordance with the requirements of the EU and UK version of the Market Abuse Regulation 596/2014. 

 1Details of the person discharging managerial responsibilities/person closely associateda)Name of natural personJean François van Boxmeer2Reason for the notificationa)Position/statusBoard Chairb)Initial notification/AmendmentInitial notification3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameThe Magnum Ice Cream Company N.V.b)Legal Entity Identifier code25490052LLF3XH6G98474Details of the transaction(s) summary table Date of TransactionDescription of InstrumentIdentification CodePlace of TransactionCurrency 12-DEC-2025Ordinary shares of €3.50 eachISIN: NL0015002MS2Amsterdam Stock Exchange - XAMSEUR Nature of Transaction PriceVolumeTotal Acquisition13.342515,000200,137.50  Aggregated13.342515,000200,137.50   1Details of the person discharging managerial responsibilities/person closely associateda)Name of natural personSandeep Desai2Reason for the notificationa)Position/statusChief Supply Chain Officerb)Initial notification/AmendmentInitial notification3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameThe Magnum Ice Cream Company N.V.b)Legal Entity Identifier code25490052LLF3XH6G98474Details of the transaction(s) summary table Date of TransactionDescription of InstrumentIdentification CodePlace of TransactionCurrency 10-DEC-2025Ordinary shares of €3.50 eachISIN: NL0015002MS2London Stock Exchange - XLONGBP Nature of Transaction PriceVolumeTotal Acquisition10.985646,37069,978.53  Aggregated10.985646,37069.978.53  Date of TransactionDescription of InstrumentIdentification CodePlace of TransactionCurrency 11-DEC-2025Ordinary shares of €3.50 eachISIN: NL0015002MS2London Stock Exchange - XLONGBP Nature of Transaction PriceVolumeTotal Acquisition 11.7778728489,987.64  Aggregated11.7778728489,987.64  Date of TransactionDescription of InstrumentIdentification CodePlace of TransactionCurrency 10-DEC-2025Ordinary shares of €3.50 eachISIN: NL0015002MS2London Stock Exchange - XLONGBP Nature of Transaction PriceVolumeTotal Acquisition 10.97608589,417.41  Aggregated10.97608589,417.41  Date of TransactionDescription of InstrumentIdentification CodePlace of TransactionCurrency 10-DEC-2025Ordinary shares of €3.50 eachISIN: NL0015002MS2London Stock Exchange - XLONGBP Nature of Transaction PriceVolumeTotal Acquisition 10.9760 781   8,572.26  Aggregated10.9760 781   8,572.26  Date of TransactionDescription of InstrumentIdentification CodePlace of TransactionCurrency 10-DEC-2025Ordinary shares of €3.50 eachISIN: NL0015002MS2London Stock Exchange - XLONGBP Nature of Transaction PriceVolumeTotal   10.9780106 1163.67  Aggregated10.9780106 1163.67  Date of TransactionDescription of InstrumentIdentification CodePlace of TransactionCurrency 10-DEC-2025Ordinary shares of €3.50 eachISIN: NL0015002MS2London Stock Exchange - XLONGBP Nature of Transaction PriceVolumeTotal   10.9760 77 841.79   Aggregated10.9760 77 841.79   About The Magnum Ice Cream Company

The Magnum Ice Cream Company is the world’s largest ice cream company. With an unrivalled portfolio of brands including global power brands Magnum, Ben & Jerry’s, Wall’s and Cornetto, and with a global fleet of nearly 3 million freezers, our products are available in 80 countries. The company generated €7.9 billion in revenue in 2024. TMICC’s legal entity identifier is 25490052LLF3XH6G9847. For more information, visit The Magnum Ice Cream Company website.  

This may be one of the last chances you get to buy a stock you absolutely know is Buffett-approved.

Warren Buffett's time as Berkshire Hathaway's (BRK.A +1.34%) (BRK.B +1.37%) chief executive and its chief stock-picker may be nearing its end. But he's still in charge, so any changes he wanted to make to the conglomerate's portfolio before his exit would have likely been made by now. The names Berkshire is still holding suggests everyone's in agreement that they're worth holding onto, and that's a pretty big deal.

With that as the backdrop, here are three of these holdings you might want to buy for yourself sooner rather than later.

Image source: The Motley Fool.

1. Bank of America
Yes, Berkshire has been steadily shedding some of its position in Bank of America (BAC +0.34%) since the middle of last year. Don't read too much into the selling, though. At a value of $31 billion, it's still the organization's third-biggest holding, which speaks volumes about the confidence Berkshire's management has in the mega-bank.

In this same vein, the fact that BAC shares continue to rise at a time when they seemingly shouldn't (falling interest rates, lethargic economy, and consumers' heavy indebtedness) also speaks volumes about the market's confidence in the company's long-term guidance. BofA management now believes the banking giant will grow its net interest income at an average annual pace of 5% to 7% between now and 2030, compared to a more modest pace of 4% for the past few years.

At the same time, the company expects to improve its ROTCE (return on tangible common equity) to somewhere between 16% and 18%, putting it back on par with most of its rivals' results.

Today's Change

(

0.34

%) $

0.19

Current Price

$

55.33

Perhaps even more bullish is the fact that, even with this stock's 120% gain since its late-2023 low, BAC shares are still reasonably valued at less than 13 times next year's expected earnings of $4.35 per share. The stock's forward-looking dividend yield of 2.1% is also better than you'll find with most comparable companies.

2. Chubb
Chubb (CB +1.34%) may well be the least-talked-about name of all of Berkshire Hathaway's major holdings. In fact, many investors may have never even heard of it. Blame its business, mostly. Chubb's an insurer, which just can't compete for investor attention the way growth industries like artificial intelligence can.

What this insurer lacks in pizzazz, however, it makes up for in other ways, like surprisingly consistent performance as well as surprisingly consistent dividend growth.

Today's Change

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1.34

%) $

4.14

Current Price

$

312.61

That might be a little tough to believe for a property and casualty (and liability) insurer like Chubb these days, given the seemingly growing number of increasingly expensive natural disasters. And Chubb is feeling this pain to be sure. Its catastrophic losses more than tripled year over year during the first quarter of 2025 due to California's rampant January wildfires. The company also reported estimated losses in the ballpark of $250 million to $300 million resulting from Hurricane Milton that devastated much of Florida late last year, taking a bite out of what would have otherwise been nearly $2.8 billion in net income for the quarter in question.

The thing is, insurers' actuaries -- the mathematicians that predict payout costs and determine customers' insurance premiums -- have gotten shockingly good at figuring out how to price their products to cover payouts for what are actually surprisingly predictable catastrophes. That's how Chubb has avoided suffering any meaningful quarterly loss over the course of the past decade, with the exception of the second quarter of 2020, when the completely unpredictable COVID-19 pandemic was ripping across the planet. Notice the company more than made up for it by the end of that year.

Data by YCharts.

No, you'll never enjoy huge growth from this slow-moving name in a slow-moving industry. You will enjoy consistent growth, though, along with a dividend payment that's not only been paid like clockwork for decades, but has been raised every year for the past 32 years.

3. Domino's Pizza
Finally, add Domino's Pizza (DPZ +1.75%) to your list of Buffett stocks to buy this month while you can still step in at a discount. Share prices of the fast food chain are still well below this year's high of around $500 apiece.

When Buffett first began adding Domino's to Berkshire Hathaway's portfolio in the latter half of last year, it turned more than a few curious heads. It wasn't a bad company, and the stock had just suffered the sort of short-term setback that Buffett likes to buy into. It just wasn't the kind of investment that the Oracle of Omaha had shown interest in at any point in the recent past.

Today's Change

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1.75

%) $

7.51

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$

437.50

As time marches on, though -- giving investors as well as analysts time to examine this often-overlooked name -- the unlikely trade makes more and more sense. Pizza is a marketable meal in any and all economic environments, while operating pickup-and-delivery-only kitchens like Domino's is cost-effective. Simple raw pizza toppings are relatively cheap to buy in bulk, and these stores operate on a small footprint that requires a minimal amount of staff and servicing.

Of course, it doesn't hurt the bullish argument that Domino's Pizza is one of the biggest and best-known names in the business, making it easier to expand when the opportunity arises. To this end, the company opened (net) 214 new stores in the third quarter of this year, bringing its total count up to 21,750, and accelerating its current annualized pace of 748 new stores. Indeed, although it has since dialed back these plans so it can proceed more thoughtfully and carefully through an ever-changing environment, Domino's revealed back in 2023 that it was looking to eventually establish 50,000 locales, illustrating the scope of what the company thinks is possible.

Regardless of when (or even if) that happens, newcomers will be plugging into a solid stock with a respectable dividend yield of nearly 1.7%.

Calgary, Alberta--(Newsfile Corp. - December 16, 2025) - Canadian Natural's (TSX: CNQ) (NYSE: CNQ) President, Scott Stauth, commented on the Company's 2026 budget, "Our 2026 budget is anchored around our unparalleled assets, execution, and resilience, which positions Canadian Natural as one of the most reliable and value-driven independents in our industry.

Our low cost, long life low decline asset base allows Canadian Natural to maintain a strong balance sheet through commodity price cycles while providing significant and sustainable returns to our shareholders. Our assets are diverse and balanced, providing stability while maintaining the flexibility to grow significantly when and if it makes sense to do so. In addition to short-term production growth in 2026, we will be commencing front-end engineering work in 2026 to provide the Company with the opportunity to execute on medium and long-term value growth opportunities which maximize shareholder value.

Our 2026 operating capital budget of approximately $6.3 billion targets to deliver value growth and strong returns on capital. Annual average production in 2026 is targeted to be between 1,590 MBOE/d and 1,650 MBOE/d, of which 74% is liquids production and results in production growth at the mid-point of such range of approximately 50,000 BOE/‌d or 3% over forecast 2025 levels.

Our diversified production mix remains balanced and is targeted to consist of approximately 49% light crude oil, NGLs and Synthetic Crude Oil ("SCO"), 25% heavy crude oil and 26% natural gas, based on the mid-point of our corporate production guidance range."

Canadian Natural's Chief Financial Officer, Victor Darel, continued "Canadian Natural's resilience is as a result of our strong balance sheet and our disciplined and consistent capital allocation strategy. In 2026, we remain focused on strong returns on capital employed and returns to shareholders, while we continue to strengthen the balance sheet. Our financial strength gives us the flexibility to deliver on our plan and continue to drive long-term shareholder value, as we are resilient in lower commodity price environments while having significant torque to higher commodity prices.

With our disciplined 2026 operating capital budget, low maintenance capital requirements and a long life low decline asset base, we target to generate significant free cash flow and continue to deliver returns to our shareholders, through dividends, share repurchases and debt reduction, as per the Company's free cash flow allocation policy."

2026 OPERATING CAPITAL BUDGET & PRODUCTION GUIDANCE HIGHLIGHTS

Canadian Natural's strategy of maintaining a diverse portfolio of high quality assets, supported by our long life low decline production, provides a significant competitive advantage as it enables the Company to maximize shareholder value through flexible capital allocation and optimized product mix. The Company's focus on effective and efficient operations and continuous improvement drives high return on capital projects that deliver industry leading free cash flow(1) which will be either returned to shareholders or used to strengthen the balance sheet.

Canadian Natural's 2026 operating capital budget is disciplined, targeted at approximately $6.3 billion(1). The Company is targeting production growth in 2026 of approximately 3%, as we invest in short and medium-term production growth, while commencing front-end engineering and design ("FEED") on potential additional medium and long-term value creation opportunities.

Included in the 2026 operating capital budget is approximately $175 million of FEED capital in relation to potential medium and long-term value creation opportunities. These include two thermal in situ opportunities; Jackfish Brownfield expansion and Pike 2 expansion, as well as the long-term Jackpine mine expansion opportunity at our Albian mines.

In addition to the operating capital budget, the Company targets approximately $125 million of capital related to carbon capture projects.

Canadian Natural has a unique and diverse asset base which allows the Company to adapt quickly to changing market conditions. The Company's 2026 operating capital budget targets a level loaded drilling program throughout the year and maintains significant capital flexibility. Highlights of the 2026 budget include:

The Company is progressing with its highly capital efficient drill to fill development strategy across its Conventional E&P assets, including the following:

Targeting 448 net wells across our extensive crude oil and liquids-rich natural gas assets. The program includes the following:

110 net light crude oil wells, primarily in the Mannville, Montney, Charlie Lake and Dunvegan Formations.

86 net liquids-rich natural gas wells, primarily in the Duvernay and Montney Formations.

252 net heavy crude oil wells in our primary heavy crude oil, Pelican Lake and Driftwood areas.

The Company is continuing with its highly capital efficient thermal in situ drilling program, including the following:

Three Cyclic Steam Stimulation ("CSS") pads at Primrose, with the first pad targeted to come on production in Q3/26.

One Steam Assisted Gravity Drainage ("SAGD") pad at Kirby, which is targeted to come on production in 2027.

46 new wells on existing mature pads, which access additional reservoir and bring forward reserves while optimizing Steam to Oil Ratios ("SOR").

At Horizon, the Company is progressing its Naphtha Recovery Unit Tailings Treatment ("NRUTT") project that targets incremental production in Q3/27 of approximately 6,300 bbl/d of SCO following mechanical completion.

Canadian Natural is targeting a production guidance range of 1,590 MBOE/d to 1,650 MBOE/d in 2026, which represents growth of approximately 50,000 BOE/d or 3% over 2025 levels, based on the mid-point of guidance.

The targeted production mix in 2026 is balanced, consisting of approximately 49% light crude oil, NGLs and SCO, 25% heavy crude oil and 26% natural gas, based on the mid-point of guidance.

Liquids production guidance is targeted to be 1,177 Mbbl/d to 1,220 Mbbl/d, representing absolute growth of approximately 55,000 bbl/d or 5% over 2025 levels, based on the mid-point of guidance. Included in 2026 production guidance is the following:

At Horizon, a planned 35 day turnaround is targeted to begin in September 2026, impacting annual average production by approximately 29,000 bbl/d. As part of Horizon's two-year turnaround cycle, the Company targets that the next turnaround will be in 2028.

Natural gas production is targeted to range between 2,477 MMcf/d to 2,577 MMcf/d, in line with 2025 levels, based on the mid-point of guidance.

(1) Non-GAAP Financial Measure. Refer to the "Non-GAAP and Other Financial Measures" section of the Company's MD&A for the three and nine months ended September 30, 2025 dated November 5, 2025 ("MD&A").

2026 PRODUCTION GUIDANCE & CAPITAL BUDGET

2026 Capital Budget(1) ($ millions)
2026
Budget
Conventional E&P$3,320
Thermal and Oil Sands Mining & Upgrading$2,980
Total Operating Capital Budget$6,300
Carbon Capture$125
Total Capital Budget$6,425
(1) 2026 capital budget excludes approximately $993 million of abandonment expenditures, before recoveries, related to the execution of the Company's abandonment and reclamation programs in North America and the North Sea.
2026 Production Guidance(1) (before royalties)  2026
Budget
Natural Gas (MMcf/d)
2,477 - 2,577
Conventional E&P Crude Oil & NGLs (Mbbl/d)
325 - 337
Thermal and Oil Sands Mining & Upgrading (Mbbl/d)
852 - 883
Total Liquids (Mbbl/d)
1,177 - 1,220
Total MBOE/d
1,590 - 1,650
(1) Reflects planned downtime for turnaround activities in all areas.
Note: Rounded to the nearest 1,000 bbl/d.
Canadian Natural is a senior crude oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and Offshore Africa.

 CANADIAN NATURAL RESOURCES LIMITED
T (403) 517-6700   F (403) 517-7350   E [email protected]
2100, 855 - 2 Street S.W. Calgary, Alberta, T2P 4J8
www.cnrl.com   
  
  SCOTT G. STAUTH
President VICTOR C. DAREL
Chief Financial Officer

 LANCE J. CASSON
Manager, Investor Relations

 Trading Symbol - CNQ
Toronto Stock Exchange
New York Stock Exchange

  
 ADVISORY

Special Note Regarding Forward-Looking Statements

Certain statements relating to Canadian Natural Resources Limited (the "Company") in this document or documents incorporated herein by reference constitute forward-looking statements or information (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements can be identified by the words "believe", "anticipate", "expect", "plan", "estimate", "target", "focus", "continue", "could", "intend", "may", "potential", "predict", "should", "will", "objective", "project", "forecast", "goal", "guidance", "outlook", "effort", "seeks", "schedule", "proposed", "aspiration", or expressions of a similar nature suggesting future outcome or statements regarding an outlook. Disclosure related to the Company's strategy or strategic focus, capital budget, expected future commodity pricing, forecast or anticipated production volumes, royalties, production expenses, capital expenditures, forecast and anticipated abandonment expenditures, income tax expenses, and other targets provided throughout this Management's Discussion and Analysis ("MD&A") of the financial condition and results of operations of the Company, including the strength of the Company's balance sheet, the sources and adequacy of the Company's liquidity, and the flexibility of the Company's capital structure, constitute forward-looking statements. Disclosure of plans relating to and expected results of existing and future developments, including, without limitation, those in relation to: the Company's assets at Horizon Oil Sands ("Horizon"), the Athabasca Oil Sands Project ("AOSP"), the Primrose thermal oil projects ("Primrose"), the Pelican Lake water and polymer flood projects ("Pelican Lake"), the Kirby thermal oil sands project ("Kirby"), the Jackfish thermal oil sands project ("Jackfish") and the North West Redwater bitumen upgrader and refinery; construction by third parties of new, or expansion of existing, pipeline capacity or other means of transportation of bitumen, crude oil, natural gas, natural gas liquids ("NGLs"), or synthetic crude oil ("SCO") that the Company may be reliant upon to transport its products to market; the maintenance of the Company's facilities and any expected return to service dates; the construction, expansion, or maintenance of third-party facilities that process the Company's products; the abandonment and decommissioning of certain assets and the timing thereof; the development and deployment of technology and technological innovations; the financial capacity of the Company to complete its growth projects and responsibly and sustainably grow in the long-term; and the materiality of the impact of tax interpretations and litigation on the Company's results, also constitute forward-looking statements. These forward-looking statements are based on annual budgets and multi-year forecasts and are reviewed and revised throughout the year as necessary in the context of targeted financial ratios, project returns, product pricing expectations, and balance in project risk and time horizons. These statements are not guarantees of future performance and are subject to certain risks. The reader should not place undue reliance on these forward-looking statements as there can be no assurances that the plans, initiatives, or expectations upon which they are based will occur. In addition, statements relating to "reserves" are deemed to be forward-looking statements as they involve the implied assessment based on certain estimates and assumptions that the reserves described can be profitably produced in the future. There are numerous uncertainties inherent in estimating quantities of proved and proved plus probable crude oil, natural gas, and NGLs reserves and in projecting future rates of production and the timing of development expenditures. The total amount or timing of actual future production may vary significantly from reserves and production estimates.

The forward-looking statements are based on current expectations, estimates, and projections about the Company and the industry in which the Company operates, which speak only as of the earlier of the date such statements were made or as of the date of the report or document in which they are contained, and are subject to known and unknown risks and uncertainties that could cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others: general economic and business conditions (including as a result of the actions of the Organization of the Petroleum Exporting Countries Plus ("OPEC+"), the impact of conflicts in the Middle East and in Ukraine, increased inflation, and the risk of decreased economic activity resulting from a global recession) which may impact, among other things, demand and supply for and market prices of the Company's products, and the availability and cost of resources required by the Company's operations; volatility of and assumptions regarding crude oil, natural gas and NGLs prices; fluctuations in currency and interest rates; assumptions on which the Company's current targets are based; economic conditions in the countries and regions in which the Company conducts business; changes and uncertainties in the international trade environment, including with respect to tariffs, export restrictions, embargoes, and key trade agreements (including uncertainties around US imposed tariffs, and actual or potential Canadian countermeasures, both of which continue to evolve and may be continued, suspended, increased, decreased, or expanded); uncertainty in the regulatory framework governing greenhouse gas emissions including, among other things, financial and other support from various levels of government for climate related initiatives and potential emissions or production caps; civil unrest and political uncertainty, including changes in government, actions of or against terrorists, insurgent groups, or other conflict including conflict between states; the ability of the Company to prevent and recover from a cyberattack, other cyber-related crime, and other cyber-related incidents; industry capacity; ability of the Company to implement its business strategy, including exploration and development activities; the impact of competition; the Company's defense of lawsuits; availability and cost of seismic, drilling, and other equipment; ability of the Company to complete capital programs; the Company's ability to secure adequate transportation for its products; unexpected disruptions or delays in the mining, extracting, or upgrading of the Company's bitumen products; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; ability of the Company to attract the necessary labour required to build, maintain, and operate its thermal and oil sands mining projects; operating hazards and other difficulties inherent in the exploration for and production and sale of crude oil and natural gas and in the mining, extracting, or upgrading the Company's bitumen products; availability and cost of financing; the Company's success of exploration and development activities and its ability to replace and expand crude oil and natural gas reserves; the Company's ability to meet its targeted production levels; timing and success of integrating the business and operations of acquired companies and assets; production levels; imprecision of reserves estimates and estimates of recoverable quantities of crude oil, natural gas and NGLs not currently classified as proved; changes to future abandonment and decommissioning costs, actions by governmental authorities; government regulations and the expenditures required to comply with them (especially safety, competition, environmental laws and regulations, and the impact of climate change initiatives on capital expenditures and production expenses); interpretations of applicable tax and competition laws and regulations; asset retirement obligations; the sufficiency of the Company's liquidity to support its growth strategy and to sustain its operations in the short-, medium-, and long-term; the strength of the Company's balance sheet; the flexibility of the Company's capital structure; the adequacy of the Company's provision for taxes; the impact of legal proceedings to which the Company is party; and other circumstances affecting revenues and expenses.

The Company's operations have been, and in the future may be, affected by political developments and by national, federal, provincial, state, and local laws and regulations such as restrictions on production, the imposition of tariffs, embargoes, or export restrictions on the Company's products (including uncertainties around US imposed tariffs, and actual or potential Canadian countermeasures, both of which continue to evolve and may be continued, suspended, increased, decreased, or expanded), changes in taxes, royalties and other amounts payable to governments or governmental agencies, price or gathering rate controls and environmental protection regulations. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent upon other factors, and the Company's course of action would depend upon its assessment of the future considering all information then available.

Readers are cautioned that the foregoing list of factors is not exhaustive. Unpredictable or unknown factors not discussed in this document could also have adverse effects on forward-looking statements. Although the Company believes that the expectations conveyed by the forward-looking statements are reasonable based on information available to it on the date such forward-looking statements are made, no assurances can be given as to future results, levels of activity, and achievements. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Except as required by applicable law, the Company assumes no obligation to update forward-looking statements in this document, whether as a result of new information, future events or other factors, or the foregoing factors affecting this information, should circumstances or the Company's estimates or opinions change.

Special Note Regarding Common Share Split and Comparative Figures

At the Company's Annual and Special Meeting held on May 2, 2024, shareholders passed a Special Resolution approving a two for one common share split effective for shareholders of record as of market close on June 3, 2024. On June 10, 2024, shareholders of record received one additional share for every one common share held, with common shares trading on a split-adjusted basis beginning June 11, 2024. Common share, per common share, dividend, and stock option amounts for periods prior to the two for one common share split have been updated to reflect the common share split.

Special Note Regarding Amendments to the Competition Act (Canada)

On June 20, 2024, amendments to the Competition Act (Canada) came into force with the adoption of Bill C-59, An Act to Implement Certain Provisions of the Fall Economic Statement which impact environmental and climate disclosures by businesses. As a result of these amendments, certain public representations by a business regarding the benefits of the work it is doing to protect or restore the environment or mitigate the environmental and ecological causes or effects of climate change may violate the Competition Act's deceptive marketing practices provisions. These amendments include substantial financial penalties and, effective June 20, 2025, a private right of action which permits private parties to seek an order from the Competition Tribunal under the deceptive marketing practices provisions. Uncertainty surrounding the interpretation and enforcement of this legislation may expose the Company to increased litigation and financial penalties, the outcome and impacts of which can be difficult to assess or quantify and may have a material adverse effect on the Company's business, reputation, financial condition, and results.

Special Note Regarding Currency, Financial Information and Production

This document should be read in conjunction with the Company's MD&A and unaudited interim consolidated financial statements (the "financial statements") for the three and nine months ended September 30, 2025, and the Company's MD&A and audited consolidated financial statements for the year ended December 31, 2024. All dollar amounts are referenced in millions of Canadian dollars, except where noted otherwise. The Company's MD&A and financial statements for the three and nine months ended September 30, 2025 have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

Production volumes and per unit statistics are presented throughout this document on a "before royalties" or "company gross" basis, and realized prices are net of blending and feedstock costs and exclude the effect of risk management activities. In addition, reference is made to crude oil and natural gas in common units called barrel of oil equivalent ("BOE"). A BOE is derived by converting six thousand cubic feet ("Mcf") of natural gas to one barrel ("bbl") of crude oil (6 Mcf: 1 bbl). This conversion may be misleading, particularly if used in isolation, since the 6 Mcf: 1 bbl ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In comparing the value ratio using current crude oil prices relative to natural gas prices, the 6 Mcf: 1 bbl conversion ratio may be misleading as an indication of value. In addition, for the purposes of this document, crude oil is defined to include the following commodities: light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and SCO. Production on an "after royalties" or "company net" basis is also presented for information purposes only.

Additional information relating to the Company, including its Annual Information Form for the year ended December 31, 2024, is available on SEDAR+ at www.sedarplus.ca, and on EDGAR at www.sec.gov. Information in such Annual Information Form and on the Company's website does not form part of and is not incorporated by reference in the Company's MD&A, dated November 5, 2025.

Special Note Regarding Non-GAAP and Other Financial Measures

This document includes references to Non-GAAP and Other Financial Measures as defined in National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure ("NI 52-112"). These financial measures are used by the Company to evaluate its financial performance, financial position, and cash flow and include non-GAAP financial measures, non-GAAP ratios, total of segments measures, capital management measures, and supplementary financial measures. These financial measures are not defined by IFRS and therefore are referred to as non-GAAP and other financial measures. The non-GAAP and other financial measures used by the Company may not be comparable to similar measures presented by other companies and should not be considered an alternative to, or more meaningful than, the most directly comparable financial measure presented in the financial statements, as applicable, as an indication of the Company's performance. Descriptions of the Company's non-GAAP and other financial measures included in this this document and the Company's MD&A and reconciliations to the most directly comparable GAAP measure, as applicable, are provided below as well as in the "Non-GAAP and Other Financial Measures" section of the Company's MD&A for the three and nine months ended September 30, 2025 dated November 5, 2025.

Capital Budget

Capital budget is a forward-looking non-GAAP financial measure. The capital budget is based on net capital expenditures (non-GAAP financial measure) and includes acquisition capital related to a number of acquisitions for which agreements between parties have been reached as at the time of the Company's 2025 budget press release on January 9, 2025. Refer to the "Non-GAAP and Other Financial Measures" section of the Company's MD&A for more details on net capital expenditures.

The 2025 capital forecast reflects forecasted net capital expenditures, before abandonment expenditures related to the execution of the Company's abandonment and reclamation programs in North America and the North Sea. The Company currently carries an Asset Retirement Obligation ("ARO") liability on its balance sheet for these forecasted future expenditures. Abandonment expenditures are reported before the impact of current income tax recoveries in Canada and the UK portion of the North Sea. The Company is eligible to recover interest on related to tax recoveries in the North Sea.

Capital Efficiency

Capital efficiency is a supplementary financial measure that represents the capital spent to add new or incremental production divided by the current rate of the new or incremental production. It is expressed as a dollar amount per flowing volume of a product ($‍/‍bbl/‍‍d or $/‍BOE‍/‍d). The Company considers capital efficiency a key measure in evaluating its performance, as it demonstrates the efficiency of the Company's capital investments.

Free Cash Flow Allocation Policy

Free cash flow is a non-GAAP financial measure. The Company considers free cash flow a key measure in demonstrating the Company's ability to generate cash flow to fund future growth through capital investment, pay returns to shareholders and to repay or maintain net debt levels, pursuant to the free cash flow allocation policy.

The Company's free cash flow is used to determine the targeted amount of shareholder returns after dividends. The amount allocated to shareholders varies depending on the Company's net debt position.

Free cash flow is calculated as adjusted funds flow less dividends on common shares, net capital expenditures and abandonment expenditures. The Company targets to manage the allocation of free cash flow on a forward looking annual basis, while managing working capital and cash management as required.

Up to October 2024, before the announcement of the Chevron acquisition, the Company was targeting to allocate 100% of its free cash flow in 2024 to shareholder returns.

In October 2024, with the announcement of the Chevron acquisition, the Board of Directors adjusted the allocation of free cash flow as follows:

60% of free cash flow to shareholder returns and 40% to the balance sheet until net debt reaches $15 billion.

When net debt is between $12 billion and $15 billion, free cash flow allocation will be 75% to shareholder returns and 25% to the balance sheet.

When net debt is at or below $12 billion, free cash flow allocation will be 100% to shareholder returns.

The Company's free cash flow for the three months ended September 30, 2025 and comparable periods is shown below:

Three Months Ended
($ millions)
Sep 30
2025

Jun 30
2025

Sep 30
2024
Adjusted funds flow (1) $3,920
$3,262
$3,921
Less: Dividends on common shares
1,228

1,233

1,118
Net capital expenditures (2)
2,124

1,915

1,349
Abandonment expenditures
189

193

204
Free cash flow $379
$(79)$1,250
(1) Refer to the descriptions and reconciliations to the most directly comparable GAAP measure, which are provided in the "Non-GAAP and Other Financial Measures" section of the Company's MD&A for the three and nine months ended September 30, 2025 dated November 5, 2025.
(2) Non-GAAP Financial Measure. The composition of this measure was updated in the fourth quarter of 2024. Refer to the "Non-GAAP and Other Financial Measures" section of the Company's MD&A for the three and nine months ended September 30, 2025 dated November 5, 2025.
Long-term Debt, net

Long-term debt, net (also referred to as net debt) is a capital management measure that is calculated as current and long-term debt less cash and cash equivalents.

($ millions)
Sep 30
2025

Jun 30
2025

Dec 31
2024

Sep 30
2024
Long-term debt$17,268
$17,081
$18,819
$10,029
Less: cash and cash equivalents
113

102

131

721
Long-term debt, net$17,155
$16,979
$18,688
$9,308

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278165

Source: Canadian Natural Resources Limited

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NEW YORK--(BUSINESS WIRE)--AIG Appoints Adam Clifford, Chief Executive Officer, International Commercial Insurance.

For Immediate ReleaseChicago, IL – December 16, 2025 – Today, Zacks Equity Research Equity are UnitedHealth Group Inc. (UNH - Free Report) , Humana Inc. (HUM - Free Report) and Centene Corp. (CNC - Free Report) .

Industry: HMO

Link: https://www.zacks.com/commentary/2804543/3-hmo-stocks-in-focus-despite-rising-medical-costs-regulatory-pressures

The U.S. health insurance industry, referred to as Health Maintenance Organization (HMO), is capitalizing on strategic mergers and acquisitions (M&A) and technological innovation to expand its market presence, diversify offerings and enhance competitiveness. The Federal Reserve’s projected interest rate cuts for 2026 are expected to lower borrowing costs, encouraging more M&A activity without heavily drawing on internal reserves.

On the downside, medical expenses are rising due to the return of deferred care, increased chronic disease management and surging costs of specialty drugs like biologics and cancer therapies. These pressures, coupled with an aging population and higher chronic illness rates, are compressing profit margins and straining the Health Benefit Ratio (HBR).

Compounding the challenges is a national shortage of nurses and healthcare professionals, which is impacting hospital operations. Despite these hurdles, companies like UnitedHealth Group Inc., Humana Inc. and Centene Corp. appear well-placed to counter industry headwinds.

About the IndustryThe Zacks HMO industry consists of entities (either private or public) that take care of subscribers’ basic and supplemental health services. Companies in this space primarily assume risks and assign premiums to health and medical insurance policies. Industry participants also provide administrative and managed-care services for self-funded insurance.

Services are generally offered by a network of approved care providers (called in-network), which include primary care physicians, clinical facilities, hospitals and specialists. However, out-of-network exceptions are made during emergencies or when necessary. Health insurance plans can be availed through private purchases, social insurance or social welfare programs.

4 Trends Defining the HMO Industry's FutureRising Medical Expenses: Healthcare costs for U.S. health insurers are climbing due to multiple factors. The resurgence of previously postponed medical care, routine screenings and chronic disease management has led to increased healthcare utilization and a surge in insurance claims. Additionally, the cost of prescription drugs continues to escalate sharply.

Demographic trends, including an aging population, and a growing incidence of chronic illnesses like obesity-related diabetes and cardiovascular disease, are further intensifying long-term cost pressures. These dynamics have strained the Health Benefit Ratio (a key profitability metric for insurers), thereby compressing profit margins.

Regulatory Challenges: Health insurers in the domestic market are navigating a period of heightened regulatory uncertainty. Legislative proposals such as the One Big Beautiful Bill Act seek to reduce federal Medicaid funding, introduce work requirements and tighten eligibility verification, measures that could lower coverage levels and compress reimbursement rates for both providers and insurers.

At the same time, Medicare Advantage payment rate adjustments and potential reductions in required coverage under the ACA are creating uncertainty. Health insurers are especially vulnerable, as reduced Medicaid and Medicare payments can push already thin margins into the red. Additionally, reductions in ACA subsidies may depress enrollment in marketplace plans.

Given that commercial insurance products typically deliver higher margins than Medicaid or ACA plans, insurers are increasingly prioritizing the expansion of their commercial portfolios. That said, the anticipated Medicare Advantage rate increases in 2026 may provide some margin support.

Scarcity of Healthcare Professionals: The ongoing nationwide shortage of nurses and other healthcare professionals continues to strain hospital operations, especially as patient volumes rise. Key factors driving this crisis include an aging nursing workforce, widespread burnout and unequal workforce distribution. HMOs collaborate with hospitals, physicians and other providers to deliver cost-effective care to their members.

The quality and reliability of these services are essential for maintaining customer satisfaction and renewing health plans. However, a reduced nursing workforce can compromise the ability of hospitals to deliver high-quality care, ultimately impacting customer retention and the reputation of HMO companies.

Strategic Emphasis on Mergers and Acquisitions: In addition to leveraging technological advancements, HMOs frequently engage in M&A to enhance their capabilities, penetrate new markets, strengthen their foothold in existing regions, grow their customer base and reinforce their national presence. These strategic moves also foster diversification, enabling firms to maintain a competitive edge.

With the Federal Reserve announcing three interest rate cuts for 2025 and signaling further reductions in 2026, borrowing costs are expected to ease. This more favorable interest rate environment will likely encourage M&A activity by allowing industry players to secure financing more affordably, minimizing the need to deplete internal cash reserves.

Zacks Industry Rank Indicates Bearish OutlookThe group’s Zacks Industry Rank, which is the average of the Zacks Rank of all member stocks, indicates tepid near-term prospects. The Zacks Medical-HMOs industry is housed within the broader Zacks Medical sector. It currently carries a Zacks Industry Rank #212, which places it in the bottom 12% of more than 250 Zacks industries.

Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one. The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of the negative earnings outlook for the constituent companies in aggregate.

Despite the dismal scenario, we will present a few stocks that one can retain, given their solid growth endeavors. But before that, it is worth looking at the industry’s recent stock-market performance and the valuation picture.

Industry Underperforms S&P 500, SectorThe Zacks Medical-HMO industry has declined 25.8% in the past year against the Zacks S&P 500 composite’s 2.4% growth. The Zacks Medical sector rallied 14.3% in the same time frame.

Industry's Current ValuationOn the basis of the forward 12-month price-to-earnings (P/E) ratio, which is commonly used for valuing medical stocks, the industry is trading at 16.04X compared with the S&P 500’s 23.35X and the sector’s 20.92X.

In the past five years, the industry has traded as high as 19.57X and as low as 11.58X, the median being 16.2X.

3 Stocks to WatchWe present three stocks from the space with a current Zacks Rank #3 (Hold). Considering the present industry scenario, it might be prudent for investors to retain these stocks in their portfolios, as these are well-placed to generate growth in the long haul.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

UnitedHealth Group: Minnesota-based UnitedHealth Group’s revenues are driven by strong performances from UnitedHealthcare and Optum. The UnitedHealthcare segment benefits from effective Medicare and Medicaid offerings, integrating affordable and attractive features that expand membership and boost premium income. This has led to multiple contract wins for the company. Optum's growth is fueled by acquisitions, advanced technology and data-driven care models. Strategic M&A and telehealth investments further enhance UNH’s nationwide reach and service efficiency.

The Zacks Consensus Estimate for UnitedHealth Group’s 2025 earnings is pegged at $16.29 per share. The consensus mark for revenues implies 11.9% growth from the year-ago figure. UNH’s earnings beat estimates in two of the last four quarters and missed the mark twice, the average negative surprise being 2.25%.

Humana: Headquartered in Kentucky, Humana has maintained steady growth fueled by rising premiums and an expanding membership base. The strong performance of these plans has secured the company multiple new contracts with state agencies. Through its CenterWell brand, Humana continues to focus on meeting the healthcare needs of the nation’s senior population. Over the years, the company has also pursued strategic acquisitions, which have broadened its revenue streams.

The Zacks Consensus Estimate for Humana’s 2025 earnings is pegged at $17.08 per share, indicating a 5.4% rise from the 2024 figure. The consensus mark for 2025 revenues implies 10% growth from the 2024 figure. HUM’s earnings surpassed estimates in three of the last four quarters and missed the mark once, the average being 7.54%.

Centene: Headquartered in Missouri, Centene’s revenue growth is driven by strong performance in its Medicare and Medicaid businesses, contributing to increased contract wins and expanding membership. The ongoing preference for Medicare Advantage plans among the aging U.S. population continues to fuel consistent demand for Centene’s Medicare offerings. The company pursues an inorganic growth strategy, utilizing strategic acquisitions and partnerships with healthcare providers to broaden its capabilities.

The Zacks Consensus Estimate for Centene’s 2025 earnings is pegged at $2.00 per share. The consensus mark for 2025 revenues implies 18.5% growth from the 2024 figure. CNC’s earnings outpaced estimates in three of the last four quarters and missed the mark once, the average being 75.18%.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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SummaryBlackRock Capital Allocation Term Trust offers a 22% yield but prioritizes total return over pure income.BCAT's diversified, balanced portfolio and hedging reduce risk, but net investment income often falls short of distributions.Long-term returns are generally positive with dividend reinvestment, but the share price has declined since inception.BCAT is best bought at a 10–15% NAV discount; with only a 6% discount now, I rate it a Hold.aluxum/E+ via Getty Images

BlackRock Capital Allocation Term Trust (BCAT) offers a 22% dividend yield at first glance. Yet, it's not all backed by cash flow. The trust is better for total returns, and this requires both dividend reinvestment and entering at the right

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