Market Signal Briefing

In the past 20 years, Netflix stock turned a $4,000 initial investment into $1 million.

There are few investments in recent memory that have performed better than Netflix (NFLX +1.18%). In the past two decades, this dominant streaming stock has soared 25,190% (as of Dec. 10). This means that a $4,000 investment made in December 2005 would be worth $1 million today. That shows the huge gains that can be achieved when investors buy disruptors early and hold on.

Netflix is a monster these days, with a market cap of $428 billion. Could buying right now help you retire a millionaire?

Image source: Netflix.

Netflix is trying to strengthen its competitive position
Netflix generated $11.5 billion in revenue and $3.2 billion in operating income in the latest quarter (the third quarter ended Sept. 30). It ended 2024 with over 300 million global subscribers. However, the company is aiming to bolster its position in the industry, with an offer out to acquire certain assets of Warner Bros. Discovery at an $83 billion enterprise value.

The motivation for Netflix is clear. The company wants to expand its content portfolio, while leveraging Warner Bros.' film studios and taking control of HBO Max. But Netflix plans to borrow a $59 billion bridge loan to complete the deal, adding a significant amount of debt to its balance sheet.

Paramount Skydance has countered with a $108 billion all-cash offer to buy all of Warner Bros. Discovery. This could be a lengthy battle to see which party comes out victorious. There are also regulatory approvals that need to be obtained, which is far from a sure thing.

There are risks to be mindful of
Netflix has experienced tremendous growth in the past, and it has a history of successfully pivoting its strategy to keep reaching new heights. From cracking down on password sharing to launching a lucrative ad-based subscription tier to prudently entering the market for live sports rights, Netflix has always been very methodical about its approach.

However, there are risks to keep in mind.

The first is just how competitive the industry has become. A decade ago, Netflix was expanding rapidly because it was a cheaper and better option compared to cable TV. Now, it has to go toe-to-toe with traditional media players, as well as dominant tech titans that have deep pockets, all of which are vying to attract more viewer attention in the streaming wars.

Netflix's operations in the U.S., its most critical market, are also maturing. There isn't that much room to penetrate more households across the country, forcing the business to rely on pricing increases. This setup can put a cap on domestic growth, while Netflix depends more on international markets where pricing is lower.

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Here's how investors should think about Netflix
Assuming investors have 30 years until retirement, which obviously might not be the case depending on your individual circumstances, it would require a 100-fold gain to turn a $10,000 starting sum into $1 million. This translates to a superb annualized return of 16.6%. Finding these types of opportunities is rare, although Netflix more than fit the bill historically.

To be clear, this remains a high-quality business with a bright future. Consensus analyst estimates forecast revenue of $56.7 billion and operating income of $19.7 billion in 2027, both figures that would be substantially higher than the current amounts. And there is still a huge opportunity to bring on more subscribers.

With the stock trading 31% below its peak, investors are now being asked by the market to pay a price-to-earnings ratio of 38.7. That multiple, which still looks expensive, has dropped significantly from just 12 months ago. Investors who have been waiting patiently for the dip might be eyeing this opportunity to add an industry leader to their portfolios.

However, don't expect Netflix to help you retire a millionaire. Compared to the early years, this is now a more mature company, and its growth going forward isn't likely to resemble the past.

SoundHound's shares have been on a roller-coaster throughout 2025.

SoundHound AI (SOUN 3.16%) is a fairly popular artificial intelligence (AI) stock for its size. It's about a $5 billion company by market cap, making it relatively small. However, these smaller companies have the capability to rapidly grow, which could result in explosive returns.

SoundHound hasn't had a great 2025, as its stock is down around 15% for the year. However, back in October, the shares were up around 40% for the year. This suggests some extreme volatility in SoundHound stock, which shouldn't be surprising considering its size and popularity.

So can it stage a comeback in 2026? Let's find out.

Image source: Getty Images.

SoundHound AI is pioneering important applications
SoundHound AI combines audio recognition technology and generative AI. This is an important application of AI, as it could be used to automate human-to-human interactions that aren't done in person. One of the biggest use cases for its technology so far has been in the restaurant business, as many restaurant operators are integrating its technology in drive-thru windows.

Another area where SoundHound's products could deliver significant value is any industry that has a substantial customer service wing, such as healthcare, insurance, and financial services. If SoundHound can replace the thousands of customer service agents these companies employ, its product will be incredibly useful.

We're already seeing signs of worldwide adoption of its products, as SoundHound announced that three of the top 10 global financial institutions bought additional services during Q3 and signed a contract with a French insurance company.

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While SoundHound is seeing success in multiple industries, the ultimate test will be whether the consumer accepts it. Up until this point in time, robotic customer service agents haven't been very helpful, as they are set up to follow a specific chain of action. The generative artificial intelligence-powered service agents should be able to offer more flexibility and have a more human-like aspect.

Still, customers will need to accept that they are no longer talking to a human counterpart on the other side of the phone. If they don't like this, SoundHound's clients could have everybody who calls asking for a human operator rather than the generative AI agent. SoundHound AI's product needs to be good enough that this doesn't happen, but it's a real concern.

However, with all of the money clients are spending with SoundHound AI, I'd guess that it could be a massive success if done properly.

SoundHound AI is rapidly growing
SoundHound's revenue rose 68% year over year to $42 million in the third quarter. While that's not a massive total, its growth rate is impressive. Management believes it can deliver 50% organic growth or greater for the "foreseeable" future, indicating strong growth ahead. We'll see how long it can sustain its growth, but if SoundHound AI continues to grow at a 50% or greater pace throughout 2026, I'd be surprised if the stock isn't a winner.

One item that could hamper its success is its high valuation. Despite having a banner year, SoundHound AI still trades at 34 times sales.

SOUN PS Ratio data by YCharts

Most software companies trade between 10 and 20 times sales, but those companies usually aren't growing at a 68% pace. I think this is a fairly reasonable valuation for SoundHound's stock, and if it continues to deliver strong growth, the valuation is reasonable at its current level.

One issue SoundHound investors have to watch out for is its deep unprofitability. In Q3, its operating loss totaled $116 million on $42 million in revenue. That means it lost nearly triple what it brought in the door. That's concerning to a lot of investors, but I'm not as concerned with it because SoundHound is attempting to capture market share in an incredibly important market. If SoundHound's business is as successful as some think it can be, these losses will be worth it. But it still has a lot of work to do.

Overall, I think SoundHound AI could have a strong 2026, but its success is tied to its continued rapid growth rate and the market's appetite for risk. If either one of these falters, SoundHound's stock will have a poor 2026.

, /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Bitdeer Technologies Group ("Bitdeer") (NASDAQ: BTDR) on behalf of those who purchased or otherwise acquired Bitdeer securities between June 6, 2024, and November 10, 2025, inclusive (the "Class Period"). The lead plaintiff deadline is February 2, 2026.

CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP (KTMC):
If you suffered losses related to Bitdeer, contact KTMC at:
https://www.ktmc.com/new-cases/bitdeer-technologies-group?utm_source=PR_Newswire&mktm=PR  

You can also contact KTMC attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. 

DEFENDANTS' ALLEGED MISCONDUCT:
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about Bitdeer's business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) issues with Bitdeer's SEAL04 chip design progress caused a delay in production; (2) Bitdeer decided to take a "dual-track approach" and create two independent designs in an attempt to make-up for its lost progress; (3) despite this, Bitdeer continued to reassure the public that the SEAL04 production and its operations timeline was still on track; and (4) as a result of the foregoing, Defendants' statements about the company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

THE LEAD PLAINTIFF PROCESS:
Bitdeer investors may, no later than February 2, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages Bitdeer investors who have suffered significant losses to contact the firm directly to acquire more information.

SIGN UP FOR THE BITDEER CASE AT: https://www.ktmc.com/new-cases/bitdeer-technologies-group?utm_source=PR_Newswire&mktm=PR   

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal's Plaintiff's Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group's Honor Roll of Most Feared Law Firms, The Legal Intelligencer's Class Action Firm of the Year, Lawdragon's Leading Plaintiff Financial Lawyers, and Law360's Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com. 

CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected] 

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

SOURCE Kessler Topaz Meltzer & Check, LLP

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HomeETFs and Funds AnalysisClosed End Funds Analysis

SummaryThe Allspring Global Dividend Opportunity Fund offers a 9.02% yield and disciplined distribution policy, prioritizing capital preservation over unsustainable high payouts.EOD was poorly positioned in 2025 due to its heavy U.S. allocation, but is well-positioned if U.S. equities outperform Europe as projected.EOD trades at a very reasonable price relative to its own long-term average, so the current entry point is quite reasonable.EOD’s distributions are generally covered by investment profits, and its expense ratio is competitive for a leveraged closed-end fund. Nicolae Popescu/iStock via Getty Images

The Allspring Global Dividend Opportunity Fund (EOD) is a closed-end fund that provides investors with a high level of current income from a portfolio that is primarily invested in equities. The fund’s portfolio has

Analyst’s Disclosure:I/we have a beneficial long position in the shares of LGI 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.

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The massive, multiyear AI infrastructure buildout has created a powerful investment opportunity for long-term investors.

The rapid global adoption of artificial intelligence (AI) is driving a surge in investments in AI infrastructure. However, the key constraint in this expansion is no longer GPU supply, but the shortage of purpose-built data centers capable of supporting the extreme power density and advanced cooling requirements of modern AI workloads. Hence, public hyperscalers are expected to spend almost $350 billion on AI data centers in 2025 alone.

Applied Digital (APLD 9.33%) is fast proving to be one of the significant beneficiaries of this trend, with its high-density, liquid-cooled "AI factories," or data centers optimized to run AI training and inferencing workloads.

Here's why the company can emerge as a smart pick for retail investors.

Image source: Getty Images.

Demand for Applied Digital services is robust
Applied Digital's nearly $16 billion in contracted backlog for AI data center-related revenue highlights its robust long-term demand visibility. This includes an expanded contract with hyperscaler CoreWeave (CRWV 10.06%) worth $11 billion in revenue over 15 years. Accordingly, CoreWeave has expanded its lease from 250-megawatt (MW) data center capacity to the entire 400 MW under construction at Polaris Forge 1 campus in Ellendale, North Dakota.

Recently, the company also leased 200-MW under-construction data center capacity at the Polaris Forge 2 campus in North Dakota to an unnamed U.S. hyperscaler for 15 years, adding another $5 billion in contracted revenue.

Analysts expect Applied Digital's fiscal 2026 (ending May 31, 2026) revenue to grow by 37.9% to $297.3 million. However, even this robust revenue estimate pales in comparison to the scale of the company's contracted backlog, highlighting substantial multiyear growth embedded in its pipeline.

Applied Digital has operational integration with hyperscalers
CoreWeave has also contracted Applied Digital for tenant fit-out services (installing and configuring the entire power, cooling, networking, and other infrastructure) on the first 100-MW data center capacity at Polaris Forge 1 to make it fully operational for deployment. While these services contributed $26.3 million in revenue in the first quarter, the company expects even more revenue in the second quarter.

Although tenant fit-out is a one-time, low-margin business, its impact goes beyond contributing to Applied Digital's top-line and bottom-line performance. These services have helped the company position itself as an end-to-end builder and operator of AI data centers.

Effective supply chain management
Since 2023, Applied Digital has been working on securing land, power, electric equipment such as transformers and generators, and expert construction crews to build next-generation AI data centers. These early moves to secure the supply chain for several years are helping the company rapidly ramp up capacity, even as the entire industry battles extended lead times for critical equipment, generators, and transformers. With its multiyear supply allocations, the company has managed to reduce construction timelines from 24 months to 12 to 14 months, and is now scaling capacity at multiple campuses in parallel.

Applied Digital is pursuing capacity expansion
Applied Digital has announced that its first 100-MW capacity of the 400-MW facility under construction at the Polaris Forge 1 campus is now complete and ready for service. The company now plans to further expand capacity at this campus to over 1 gigawatt (GW), as new regional transmission infrastructure becomes available from 2028 to 2030.

Applied Digital is currently constructing 300-MW capacity at Polaris Forge 2, and expects this capacity to come online in 2027. Management also believes that the capacity at Polaris Forge 2 will reach 1 GW in tandem with the availability of electrical power.

Applied Digital also has a 4-GW active development pipeline, which includes projects that can enter the construction phase in the next six to 12 months. The company is evaluating new sites in additional markets.

Robust funding
Applied Digital has secured sufficient funding to advance its expansion plans. The company announced a private offering of senior secured notes to raise $2.35 billion.

Macquarie Capital has also announced an investment of up to $5 billion in preferred equity financing for the company's AI data centers. The company has already drawn $112.5 million from this preferred equity facility to invest in the Polaris Forge 1 facility. Coupled with traditional project financing, this $5 billion investment is expected to unlock data center capacity buildout worth $20 billion to $25 billion.

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Applied Digital's valuation is on the expensive side
Applied Digital stock trades at 39.5 times sales, which appears expensive at first glance. However, the valuation seems justified considering its anticipated cash flows over the next few years. Management estimates that the CoreWeave lease at the Polaris Forge 1 campus will eventually contribute $500 million in annual net operating income once the entire 400-MW capacity comes online. Coupled with Polaris Forge 2 capacity, the company expects the net operating income run rate to reach $1 billion in the next five years.

Applied Digital is not without risks, especially considering that it is a capital-intensive business relying heavily on hyperscaler deals and is also unprofitable. However, considering all the factors, Applied Digital can prove to be one of the best AI winners, especially for long-term investors who can ignore short-term volatility in the stock.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Income-focused investors face a persistent challenge: finding yield without sacrificing capital stability. The SPDR Blackstone High Income ETF (NYSEARCA:HYBL) blends high-yield corporate bonds, senior loans, and collateralized loan obligations (CLOs) into a single actively managed portfolio.

How HYBL Fits In Your Portfolio
HYBL serves as a fixed-income position for investors seeking monthly income with moderate credit risk exposure. The fund’s return engine operates through three channels: interest payments from high-yield bonds, floating-rate coupons from senior loans, and structured credit returns from CLO tranches. Sub-advised by Blackstone Credit, the ETF uses top-down allocation to shift weights among these three asset classes based on market conditions, paired with bottom-up security selection.

The strategy targets investors who want exposure to below-investment-grade credit but prefer professional management over direct bond or loan ownership. With 671 holdings and a weighted average all-in rate of 7.06%, the fund distributes income monthly. The 30-day SEC yield stands at 6.76%, though the fund distribution yield based on actual payouts reaches 7.26%. One Reddit user in the r/dividends community asked whether HYBL would be “a good diversification for high income” alongside equity-based income funds like JEPI and JEPQ, highlighting how investors view it as a complement to covered-call strategies.

Whether It Achieves That Goal Well
HYBL has delivered on its capital preservation mandate in 2025. The ETF opened the year at $28.39 on January 2 and closed at $28.455 on December 12, producing a 0.23% price gain. Including monthly distributions totaling approximately $1.89 per share through December, the total return for 2025 reached 7.38% year-to-date, slightly outperforming the high-yield bond category average of 7.34%.

Price volatility has been remarkably low. The ETF experienced its most significant drawdown in April 2025, falling to $27.01 on April 8th (a 4.86% decline from the year’s opening price). It recovered within 30 trading days and has since traded in a narrow range between $28.40 and $28.70 for eight consecutive months. This stability reflects the underlying credit quality and diversification across 671 positions, though returns come primarily from income rather than capital appreciation.

The Tradeoffs Investors Must Accept
The 0.70% expense ratio is higher than passive bond ETFs but reasonable for an actively managed credit strategy with Blackstone’s sub-advisory involvement. Investors pay for active allocation decisions and credit research, which may justify the cost during credit stress but represents a drag during stable markets.

Credit risk remains the primary concern. The fund invests in below-investment-grade debt, and senior loans often finance leveraged buyouts or highly indebted companies. While senior loans offer first-lien protection in bankruptcy, defaults still result in losses. CLO tranches add structural complexity and can behave unpredictably during liquidity crises, as seen in March 2020 when even AAA-rated CLO tranches experienced price dislocations.

XRP has experienced a nearly 4% price increase after hitting recent lows, showcasing a potential shift in market sentiment. This rebound happens as Ripple, the issuer of XRP, approaches achieving regulated-banking status, sparking interest among major stakeholders.

In the realm of cryptocurrencies, where volatility is the norm, XRP’s recent movements are catching attention. Between December 1 and December 12, a notable bullish divergence appeared on XRP’s daily chart. Here, while the price dipped to a lower low, the Relative Strength Index (RSI) indicated a higher low, suggesting waning selling pressure. Such patterns are often precursors to a market rebound, offering a glimmer of hope to investors.

The pivotal role of major XRP holders, often referred to as “whales,” cannot be overstated in this context. Recently, the two largest groups of XRP holders have shown a keen interest in increasing their holdings. Specifically, wallets holding over 1 billion XRP grew from 25.36 billion on December 9 to 25.42 billion. Concurrently, those holding between 100 million and 1 billion XRP reversed their previous selling trend, climbing from 8.08 billion on December 11 to 8.15 billion. This net accumulation of approximately 130 million XRP, valued at around $265 million, signals a significant vote of confidence in the asset’s potential.

The timing of these whale movements coincides with Ripple’s strategic advancements towards obtaining a U.S. banking license. The prospect of Ripple gaining regulatory approval enhances its institutional appeal, possibly influencing these large-scale acquisitions. Securing such a license would position Ripple favorably in integrating traditional financial systems with blockchain technology, a move that could substantially amplify its operational credibility and market impact.

For XRP’s bullish momentum to sustain, key price levels need to be breached. A daily close above $2.11, indicating a 3.72% rise from the current price, is crucial for cementing short-term buyer dominance. Should XRP surpass this threshold, the next target would be $2.21. Achieving stability above $2.21 would potentially pave the way for a surge towards $2.58 or beyond, marking a robust shift in market structure.

Conversely, the risks are clearly outlined. A dip below $1.96 might invalidate the bullish setup, putting XRP at risk of dropping further to $1.88 or even $1.81 if selling pressure escalates. These critical levels underscore the delicate balance between the current market optimism and the inherent volatility of cryptocurrencies.

Historical context adds another layer to the current scenario. Ripple’s journey toward regulatory compliance is reminiscent of the broader trend where digital currency companies aim to bridge the gap with traditional finance. In recent years, several cryptocurrency firms have sought banking licenses, recognizing the symbiotic benefits of regulatory approval and expanded market access. The move aligns Ripple with this strategic shift, potentially broadening its institutional engagement and market reliability.

Yet, despite the positive indicators, one cannot ignore potential risks. The cryptocurrency market is notoriously unpredictable, with external factors such as regulatory changes and macroeconomic shifts capable of influencing prices significantly. Additionally, while whale activity often signals confidence, it can also lead to rapid market swings if these large holders decide to liquidate their positions.

In summary, XRP’s recent price action, supported by whale accumulation and Ripple’s regulatory progress, suggests a promising outlook. However, the delicate interplay of market forces and regulatory developments will determine whether this optimism translates into sustained growth. As Ripple inches closer to securing a banking license, its ability to leverage this milestone into broader institutional adoption remains a critical focal point for investors and market observers alike.

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Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The prices of most of the coins are going down on the last day of the week, according to CoinStats.

ETH chart by CoinStatsETH/USDThe rate of Ethereum (ETH) has fallen by 0.44% over the last 24 hours.

Image by TradingViewOn the hourly chart, the price of ETH is in the middle of the local channel between the support of $3,050 and the resistance of $3,129. As neither side is dominating, there are low chances to see sharp moves by tomorrow.

Image by TradingViewOn the bigger time frame, the rate of the key altcoin is far from the support and resistance levels. In this case, traders should pay attention to the interim zone of $3,000.

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If a breakout happens, the decline is likely to continue to the $2,900 mark.

Image by TradingViewFrom the midterm point of view, the weekly candle is about to close with a long wick, which is a bearish signal. If the situation does not change by the end of the day, traders may see a test of the $2,500-$2,700 range.

Ethereum is trading at $3,091 at press time.

On December 13, 2025, the Federal Reserve announced an unexpected rate cut, sending ripples through global financial markets. This decision has once again put Bitcoin at the center of discussions as analysts and investors ponder the implications for the cryptocurrency’s future. The rate cut, which reduced the benchmark interest rate by 50 basis points, was mainly intended to counteract slowing economic growth in the United States and was seen as a preemptive measure to stimulate the economy.

Historically, lower interest rates encourage investment in riskier assets, including cryptocurrencies like Bitcoin, as investors seek higher returns. As traditional savings yield less, Bitcoin often becomes more attractive due to its potential for significant gains. This scenario has been observed multiple times in the past, particularly in periods of economic uncertainty when alternative investments spike in popularity.

However, the dynamics this time are more complex. The Fed’s rate cut aligns with its covert quantitative easing (QE) operations, which involve injecting liquidity into the banking system. This ‘stealth QE’ is designed to stabilize the financial markets, a strategy that has been subtly in play over the last few months. The unintended consequence of these policies could be increased inflation, which might further boost Bitcoin as a hedge against currency devaluation.

On the other hand, investors must consider global influences, particularly the economic developments in Japan. The Bank of Japan has been grappling with its own set of challenges, maintaining ultra-low interest rates for an extended period to combat deflation. This strategy has placed pressure on the yen, potentially weakening it further. A depreciating yen might lead to reduced purchasing power and could indirectly affect Bitcoin trades, as Japanese investors might find it more challenging to invest heavily in foreign assets.

The global economic picture also includes China’s ongoing economic restructuring, which has significant implications for cryptocurrency markets. As China’s economy slowly transitions from an export-driven model to one focused on domestic consumption, global commodity prices are affected, influencing Bitcoin’s role as a speculative asset. Additionally, China’s regulatory stance on cryptocurrencies remains stringent, impacting global market dynamics and investor strategies.

In recent years, Bitcoin has become increasingly recognized as a digital gold or a safe-haven asset, particularly in times of economic instability. This perception is bolstered by Bitcoin’s finite supply cap of 21 million coins, contrasting with traditional fiat currencies subject to inflationary pressures through increased money supply. Given these factors, Bitcoin could see a surge in demand as investors look to hedge against inflation and seek alternative stores of value.

Nevertheless, Bitcoin’s price trajectory is far from guaranteed. Volatility remains a significant concern, as the cryptocurrency market is highly reactive to news and speculative trading. For instance, regulatory interventions or significant security breaches on major exchanges can lead to abrupt price swings, deterring some investors. Beyond market volatility, the environmental impact of Bitcoin mining continues to be a contentious issue, with critics pointing out the extensive energy consumption associated with the process.

Another critical aspect to consider is the evolving regulatory landscape. Governments worldwide are intensifying their scrutiny of digital currencies, which could impact Bitcoin’s marketability and adoption. The United States, in particular, has shown a keen interest in regulating the cryptocurrency space to safeguard investors and prevent illicit activities. Depending on the regulatory frameworks imposed, Bitcoin’s growth could either be propelled or stymied.

Moreover, the development of central bank digital currencies (CBDCs) presents both opportunities and challenges for Bitcoin. While CBDCs could bolster the overall legitimacy of digital currencies, they also pose direct competition to decentralize cryptocurrencies by providing state-backed alternatives that offer stability and regulatory assurance. The introduction of CBDCs could reshape the landscape, impacting Bitcoin’s utility and role in the financial system.

In the context of technological advancements, Bitcoin continues to face competition from other cryptocurrencies, such as Ethereum and Solana, which offer faster transaction speeds and more scalable networks. These platforms are attracting attention from developers and investors alike, potentially diverting interest from Bitcoin. The advent of blockchain innovations and decentralized finance (DeFi) applications further diversifies the investment options available within the digital asset space, challenging Bitcoin’s dominance.

Despite these challenges, Bitcoin’s resilience has been proven time and again. It has survived significant downturns and regulatory challenges in its relatively short history, often emerging stronger. The community surrounding Bitcoin is robust, with a strong belief in its potential to disrupt traditional financial systems and provide a decentralized alternative to conventional banking.

Looking ahead, Bitcoin’s trajectory will likely be shaped by a confluence of macroeconomic factors, regulatory developments, and technological innovations. Investors must remain vigilant and informed, navigating the complexities of a rapidly evolving landscape. While the recent Fed rate cut offers a potential catalyst for Bitcoin’s price appreciation, the inherent risks and uncertainties necessitate cautious optimism.

Ultimately, Bitcoin’s future will be determined by its ability to adapt to changing conditions and maintain its appeal as a digital asset. Whether it continues to thrive or faces new obstacles, Bitcoin’s journey remains a compelling narrative in the ever-evolving world of finance. As both a speculative investment and a symbol of financial innovation, Bitcoin is set to remain a focal point in global economic discussions.

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As of December 2025, Ripple’s XRP stands prominently as the third-largest non-stablecoin cryptocurrency by market capitalization. With a vision beyond being a speculative asset, XRP is positioned as a utility token with significant potential in streamlining international transactions, particularly for large institutions like banks and governments. Since its inception in June 2012, Ripple has aimed to revolutionize cross-border payments, making financial transactions faster and more cost-effective.

Historically, the cryptocurrency market has witnessed extreme volatility and dramatic growth. In 2017-2018, XRP experienced a significant price surge, briefly elevating its founder, Chris Larsen, to the status of a cryptocurrency billionaire. Though such astronomical valuations are rare, they underscore the potential within the crypto market for substantial financial gains. Yet, the question remains: can XRP create millionaires in the near future?

Comparing XRP to Bitcoin’s meteoric rise offers a lens through which to consider its potential. Bitcoin, starting at a mere $2 in mid-2011, skyrocketed to over $126,000 by October 2025, marking a staggering 63,000-fold increase. This growth trajectory transformed early Bitcoin investments into multimillion-dollar fortunes, setting a high bar for other cryptocurrencies like XRP. However, expecting XRP to replicate Bitcoin’s exact path seems overly optimistic to many analysts.

A more realistic evaluation focuses on market capitalization. To rival Bitcoin’s peak market cap of a staggering $2.5 trillion, XRP’s market cap would need to grow by approximately 1,900% from its December 2025 value. This growth is not entirely out of reach, considering the evolving landscape of global finance and cryptocurrencies’ increasing integration into mainstream markets.

Evaluating XRP’s potential involves understanding its position against the backdrop of existing financial systems. Bitcoin’s simplistic yet powerful design enabled it to function as a native internet currency, which attracted significant capital from traditional financial systems. XRP, while different in its functionality, similarly aims to streamline financial processes through its On-Demand Liquidity (ODL) service.

In Q2 2025, Ripple’s ODL, which utilizes XRP for instant cross-border payments, processed $1.3 trillion in transactions. This figure, if extrapolated to an annual basis, suggests a potential transaction volume of $5.2 trillion. A report speculated that XRP might capture up to 14% of SWIFT’s $150 trillion transaction volume by 2030. Such a development could significantly boost the demand for XRP tokens, potentially increasing their market value.

However, the real-world application of such predictions remains a challenge. While Ripple aggressively seeks to expand its client base, the market’s recognition and valuation of XRP’s potential are not yet fully realized. The ongoing growth of the global economy and the rising need for efficient cross-border transactions could drive further adoption of Ripple’s network, making XRP a more valuable asset over time.

Beyond its role in payments, the XRP Ledger (XRPL) is gaining traction as a platform for smart contracts. This expansion represents a strategic pivot towards competing in the decentralized application (dApp) and smart contract space, traditionally dominated by Ethereum. The XRPL’s ability to handle complex computations securely and reliably opens new market opportunities. In December 2025, XRPL activity reached unprecedented levels, highlighting its growing significance.

Ethereum’s market cap, which stood at $375 billion in December 2025 and peaked at $555 billion in September, serves as a benchmark for XRP’s aspirations in the smart contract arena. Should XRP manage to capture a significant share of this market, it could potentially add hundreds of billions to its market capitalization, positioning it as a formidable competitor to Ethereum.

Nonetheless, potential investors should remain mindful of inherent risks. Regulatory uncertainties, technological challenges, and market volatility are ever-present in the cryptocurrency domain. Additionally, the competition from established and emerging cryptocurrencies could impact XRP’s growth trajectory.

Looking at the broader economic context, the global shift towards digital currencies has been propelled by advancements in blockchain technology and increased acceptance from financial institutions. Governments and central banks are exploring digital currencies, which could either bolster or hinder the adoption of cryptocurrencies like XRP. Furthermore, international regulatory frameworks continue to evolve, potentially affecting how cryptocurrencies are integrated into the financial system.

Ripple’s ongoing legal struggles with the U.S. Securities and Exchange Commission (SEC) also cast a shadow on its future. Accusations of XRP being sold as an unregistered security have created uncertainty around its classification, which could impact its marketability and adoption. A favorable resolution could enhance XRP’s legitimacy, while adverse outcomes might impose restrictions and dampen investor confidence.

Despite these challenges, XRP’s prospects remain intriguing. Its dual-purpose as a transaction facilitator and smart contract platform provides a diversified approach to capturing different segments of the digital finance market. Should Ripple successfully navigate regulatory landscapes and technological hurdles, XRP could indeed emerge as a critical player in the evolving financial ecosystem.

In conclusion, while XRP’s immediate potential to create millionaires might be limited compared to Bitcoin’s historical performance, it holds promise as a transformative force in digital finance. With its focus on enhancing cross-border payment efficiency and expanding into smart contracts, XRP is positioned to capitalize on growing trends within the cryptocurrency market. However, potential investors should weigh the opportunities against the risks and remain informed about the dynamic landscape of digital currencies.

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Brazil’s largest private bank, Itaú Unibanco, and its investment arm Itaú Asset Management are urging investors to consider a limited Bitcoin allocation of 1% to 3% in their portfolios starting in 2026. The guidance appears in recent research and reflects a shift toward incorporating digital assets within traditional wealth strategies.

The bank framed Bitcoin not as a core holding, but as a complementary asset that may provide diversification benefits amid global economic uncertainty and domestic currency risks. Recent price swings and foreign exchange fluctuations have underscored the challenges many investors face, and Itaú’s report suggests disciplined, modest exposure could help address those issues.

Itaú’s recommendation stems from internal analysis showing Bitcoin’s low correlation with traditional stocks, bonds and fixed income, which has strengthened the case for including the asset in a broader investment mix. The bank noted that a calibrated allocation can offer exposure to potential long-term appreciation while managing overall risk.

Rationale and Strategic Context Behind the Allocation GuidanceItaú’s decision reflects broader macro trends including geopolitical tension, shifting monetary policy and currency volatility in Brazil, where the real has fluctuated significantly. In its commentary, the bank’s strategists highlighted Bitcoin’s distinct dynamics and global, decentralized nature as key reasons for its potential role as a diversifier.

The bank emphasized that timing the market is risky, and instead advocated for a long-term, disciplined approach in how investors build and maintain their Bitcoin positions. That view aligns with how modern portfolio theory treats small allocations to non-correlated assets.

At the same time, Itaú is expanding its digital asset offerings through new products, including Bitcoin-related ETFs and funds, signaling a broader institutional embrace of cryptocurrency exposures that go beyond mere advisory notes.

What Investors Should Know About the 1%–3% RecommendationItaú’s specific range — 1% to 3% — is pitched as a controlled exposure, not a major shift in overall portfolio strategy. The bank’s research stresses that Bitcoin should remain a small strategic slice, intended to balance traditional assets rather than replace them.

For Brazilian investors, the recommendation also accounts for the impact of exchange rate movements on returns, since Bitcoin’s performance in reais can differ sharply from its performance in dollars due to currency swings.

While Bitcoin’s volatility persists, Itaú’s guidance places it alongside global institutional trends where banks and asset managers are cautiously integrating digital assets into long-term portfolio frameworks.

A recent technical analysis shared on X by crypto analyst Merlijn The Trader presents Ethereum’s price action on the 2-day candlestick chart as a textbook example of Wyckoff accumulation. In his assessment, Ethereum has already moved through several key stages of the model and is now approaching a powerful expansion phase, provided the structure stays intact.

Wyckoff Accumulation Structure Taking Shape On Ethereum Chart
Over the past several days, Ethereum has traded between roughly $3,050 and $3,400, repeatedly failing to secure a sustained move beyond either boundary. At the time of writing, Ethereum’s price action is trading around $3,100.

This prolonged standoff has reinforced the view that Ethereum has returned to consolidating rather than trading in a defined trend, a behavior that aligns closely with the accumulation phase highlighted in a technical analysis by Merlijn The Trader.

In his post, Merlijn described Ethereum’s chart as a “Wyckoff masterclass,” pointing to a sequence of events that align with textbook behavior from the Wyckoff accumulation schematic, which have been playing out for the entirety of 2025.

According to the annotated structure, the spring occurred when ETH briefly dipped below $1,500 in the first half of the year. Price did not linger below that level for long, reclaiming the range within days and going on a rally that eventually ended at a selling climax (SC) of $4,946

Within this structure, the initial selling climax and automatic downtrend reaction established a clear range in which the cryptocurrency has been trading up until now. The chart labels show this as Ethereum moving through Phase D, and this has been highlighted by a downtrend in recent months. 

ETHUSD now trading at $3.09. Chart: TradingView
However, based on the Wyckoff framework, Ethereum seems to now be approaching the breakout zone, with a transition into a full Phase E and a potential vertical markup coming next if the structure continues to play out.

Phase E Projection Points To Strong Upside Scenario
If the Wyckoff roadmap continues to unfold as outlined, Merlijn believes Ethereum is setting up for a full Phase E, the final stage of the accumulation process. This phase is characterized by a sustained markup, where price exits the selling climax (SC) decisively and trends higher with increasing momentum.

Ethereum / US Dollar: @MerlijnTrader on X

The projection on the chart shows a sharp upside expansion once overhead resistance is cleared, with Merlijn pointing to $10,000 and higher as a long-term objective if the structure completes. The path higher is not expected to be linear. The model anticipates an initial push into new all-time highs, followed by a modest rejection around the $5,000 area before the price pauses to consolidate towards the Backup and Last Point of Support

According to the chart, this BU/LPS would likely form around $3,750. If Ethereum holds above that level during the pullback, it would confirm structural strength, with the subsequent expansion targeting above $10,000.

Featured image from Unsplash, chart from TradingView

Ripple executive reveals XRP's multichain strategy at Solana Breakpoint as wXRP prepares to enter Solana DeFi via Hex Trust.

17h10 ▪
6
min read ▪ by
Mikaia A.

Summarize this article with:

Since its beginnings, bitcoin followed an almost perfect mechanism. Every four years, the halving came to restart the engine, like a metronome. But times change. In 2025, mathematical gravity is no longer enough. The cycles are distorted, slowed down, sometimes reversed. The price of BTC no longer reacts only to halving or narratives. It is sucked into another dimension: that of interest rates, the Fed, and global monetary policy. Bitcoin has grown, and now it lives in the same world as other risky assets.

In Brief

The bitcoin cycle seems more influenced by American elections than by the halving.
Inflows are slowing on ETFs, weakening the current crypto market momentum.
The Fed’s unpredictable decisions complicate macro readings for crypto investors.
Altcoin volume is under pressure despite growing interest in crypto products on the stock market.

Halving or Elections: Who Really Holds the Bitcoin Wheel?
For a long time, the crypto industry loved the idea of a “4-year cycle“. Simple, reassuring. But Markus Thielen (10X Research) throws a stone in the pond:

It’s not the halving that dictates the pace, but rather the midterm elections. They generally coincide with a consolidation period for stock markets. When looking at Bitcoin peaks in 2013, 2017, and 2021, they all fall in the fourth quarter. That fits much better than halving dates, which themselves move.

He notes that peaks have always occurred at year-end: December 2013, December 2017, November 2021. And today?

With a confused Fed, unclear economic policy, and internal divisions, the machine is stuck. Jerome Powell may multiply speeches, but markets hear nothing clear. Result: Bitcoin has exited its bullish channel started in 2023. Investors no longer know which saint to pray to.

And this uncertainty spares no other cryptos. In a market dominated by macro uncertainty, altcoins suffer even more. Ethereum stalls, others fade away. Thielen warns that without a resurgence of inflows, the crypto market will not rebound. 

Bitcoin, Rates, and Confusion: The Market Seeks a Conductor
The first market move after a Fed announcement is always the wrong one, some traders believe. On the day of the last Fed decision, Bitcoin jumped to 94,000 dollars… before falling back to 89,000.

The cause? A Jerome Powell press conference judged ambiguous: he starts neutral, ends dovish, but the official message remains hawkish. In short, nothing decisive. Thielen’s analysis is ruthless: 

Powell started with a balanced view. But over the course of the press conference, he became increasingly dovish, which confused the markets. He constantly changes his tone. 

Meanwhile, flows into Bitcoin ETFs are slowing. In December 2023, 34 billion dollars rushed into crypto products. In 2025, it’s barely 22 billion. Worse: on-chain flows are now negative. Institutions keep their distance. And CEXs like Coinbase or Binance see their activity drop due to lack of volume.

In this context, crypto cycles can no longer be read as before. Even supporters of the supercycle, like Tom Lee, struggle to convince. He argues that a recovery in the ISM (manufacturing activity index) could restart Bitcoin. But Thielen is skeptical: the economy is no longer industrial. The ISM no longer reflects anything. 

CEX, IPO, and Altcoins: Towards Another Crypto Cycle?
While the Bitcoin cycle stalls, another engine emerges: the stock markets. Crypto IPOs, from Circle to Robinhood, grab attention. Even Korean investors, long fond of altcoins, turn to American crypto stocks. Thielen cites a revealing figure: at one point, crypto volume in Korea exceeded that of all local stocks combined by 50%.

But this shift is logical. Institutional money no longer wants token 733 on CoinMarketCap. It wants regulation, audited balance sheets, liquidity. Result: altcoins outside of Ethereum and BNB are going through a desert crossing. And even so, BNB only manages thanks to its ecosystem, yields, and internal momentum.

Crypto cycles are therefore mutating. They are not dead, but they change shape. And as Thielen says: “As long as there are no net inflows, the crypto market will go nowhere.”

5 Key Points to Remember About BTC and Monetary Policy

Current Bitcoin Price: 89,005 dollars, down after an attempt to rise to 94,000;
Crypto ETFs: 34 billion $ inflows in December 2023, only 22 billion $ in 2025;
First negative flows on the Bitcoin blockchain since August 2023;
Crypto volume in Korea: 25 billion $ in one day, versus 15 billion $ for the entire stock exchange;
59 billion $ of unlocks planned in altcoins in 2025, a real brake on recovery.

One last element not to underestimate in this equation: the historical holders of Bitcoin. These “hodlers” who refuse to sell, even at peaks, limit the available liquidity. Their inertia could slow price movements, especially in an already tense market. Understanding their role thus becomes crucial to anticipate the next phase of the cycle.

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Bitcoin’s recent market dynamics suggest a shift in the trading landscape, as decreased selling pressure coincides with favorable economic policy shifts. In the past three weeks, BTC has rebounded significantly, rising from $80,000 on November 21 to a recent high of $94,000, before stabilizing around $90,000. Analysts from CryptoQuant highlight a potential relief rally, fueled by the Federal Reserve’s decision to cut interest rates by 25 basis points announced during the latest Federal Open Market Committee (FOMC) meeting.

The reduction in Bitcoin’s selling pressure is notably marked by fewer deposits into cryptocurrency exchanges, dropping from 88,000 BTC in mid-November to 21,000 BTC currently. This decline in deposits came after Bitcoin reached its all-time high of $126,000, leading significant market players to reduce their exchange transfers.

The pattern of decreased selling pressure is further illustrated by the behavior of large investors. Their share of total deposits has fallen dramatically from a 47% 24-hour average in mid-November to 21% today. The average amount deposited has also seen a 36% reduction, going from 1.1 BTC to 0.7 BTC. This trend suggests that major holders are exercising caution or are less inclined to liquidate their positions.

The broader market context provides additional insight into Bitcoin’s potential rally. Historically, when large-scale investors and short-term holders experience heavy losses, selling pressure tends to decline. A month ago, as Bitcoin’s price dipped below $100,000, both established and new large holders realized losses totaling $646 million, the highest since July. Since this price correction, total realized losses have exceeded $3.2 billion.

Short-term holders are also unloading their assets at a loss, with the Spent Output Profit Ratio (SOPR) staying below 1, reflecting a negative profit margin that has reached lows of -7%. CryptoQuant analysts note that such conditions usually precede a relief phase as market participants become less inclined to sell at a loss.

Should the easing of selling pressure continue, Bitcoin could recover to approximately $99,000—a key resistance point identified as the lower band of the Trader On-chain Realized Price range. This level often marks a resistance during bearish cycles, alongside the on-year moving average and the Trader On-chain Realized price, pegged at $102,000 and $112,000, respectively.

The recent interest rate cut by the Federal Reserve is a critical external factor influencing the Bitcoin market. Lower interest rates can lead to increased liquidity and borrowing, potentially driving more investment into riskier assets like cryptocurrencies. Historically, monetary policies such as these have bolstered asset prices by making traditional savings less attractive, prompting investors to seek better returns elsewhere.

However, several risks and counterpoints accompany this optimistic outlook. The volatile nature of the cryptocurrency market means that any short-term gains can quickly reverse due to sudden market sentiment shifts or regulatory announcements. Furthermore, any economic downturns or shifts in macroeconomic conditions could dampen the positive effects of the rate cut.

Moreover, the speculative nature of cryptocurrencies can lead to rapid changes in investor behavior, making market predictions inherently uncertain. While the interest rate cut provides a favorable backdrop, the global economic environment remains a crucial determinant of Bitcoin’s future performance.

While the current conditions suggest a potential rally, market participants should remain cautious. The balance between bullish signals from decreased selling pressure and external economic factors against the inherent volatility of cryptocurrencies makes for a complex investment landscape.

In historical context, Bitcoin has often been influenced by macroeconomic policies and global financial trends. The cryptocurrency’s decentralized nature and finite supply make it an attractive hedge against inflation and monetary policy changes. However, this also subjects it to the whims of investor sentiment and market psychology, which can be unpredictable.

As Bitcoin sits on the cusp of potentially significant gains, it remains crucial for investors to weigh the favorable conditions against the risks. The interplay of reduced exchange deposits, realized losses, and the Federal Reserve’s monetary policy shift presents a unique market scenario. While optimism may be justified, vigilance and careful analysis are key to navigating this evolving financial environment.

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a solitary Bitcoin miner has managed to secure a block reward valued at approximately $282,000. This achievement was made possible through the aid of Solo CKPool, a mining service that caters to individual miners who pursue the ambitious goal of mining blocks on their own. The successful miner, who remains anonymous, is one of the few to defy the staggering odds of solo mining in the Bitcoin network.

Solo Bitcoin mining is a venture fraught with challenges, given the fierce competition from large mining pools and the high computational power required to solve cryptographic puzzles and add new blocks to the blockchain. Typically, individual miners, even those with significant resources, struggle to compete with large mining operations that dominate the network with their vast arrays of specialized hardware. Therefore, the success of this solo miner is not just a testament to luck but also an illustration of the unpredictable nature of Bitcoin mining.

The miner’s success story underscores the intense difficulty solo miners face, as they typically operate independently without the collective hashing power found in large-scale mining pools. By joining pools, miners combine their computational resources to increase the likelihood of solving a block, sharing the rewards proportionally based on their contributed hash power. In contrast, solo miners face the daunting task of competing against these powerhouses with their own limited resources, making significant wins like this exceedingly rare.

The reward of $282,000, which reflects the value of the 6.25 Bitcoins allocated for each new block, also includes transaction fees collected from the transactions contained within the block. This windfall is significant, especially considering the volatility and recent fluctuations in Bitcoin prices. As of the latest reports, Bitcoin has experienced a resurgence in its market value, adding further weight to the monetary impact of this solo mining feat.

Historically, solo mining was the norm in Bitcoin’s early days when the network’s difficulty was much lower and fewer participants were involved. However, with the rise of Bitcoin’s popularity and value, mining has evolved into a highly competitive industry, heavily reliant on economies of scale. Large mining farms with extensive infrastructure and reduced electricity costs have emerged as the dominant players. As a result, solo mining has become a niche pursuit, often seen as a gamble due to the long odds of success.

Solo CKPool, the platform used by this miner, provides a service designed to keep the spirit of solo mining alive. It allows miners to work individually yet benefit from the pool’s technical infrastructure. This arrangement means participants can mine for full block rewards without having to share with others, but they must also shoulder the full burden of computational effort and bear the risk of potentially long dry spells without any rewards.

The triumph of this solo miner calls attention to the ever-present possibility of outlier success in Bitcoin mining. However, it’s worth noting the risks involved. The unpredictability of Bitcoin’s value, combined with the constant increase in mining difficulty, means that solo mining can be a high-stakes endeavor, not guaranteed to be profitable. In contrast, pooling resources offers a more stable, albeit shared, stream of income, providing miners with a way to mitigate the risk of long periods without rewards.

Globally, Bitcoin mining continues to be a contentious topic, often criticized for its significant environmental impact due to high energy consumption. As of recent data, the Bitcoin network’s energy usage rivals that of some countries, drawing scrutiny from environmentalists and regulators alike. This has led to increased calls for sustainable practices within the industry, with some miners exploring renewable energy sources to power their operations.

The solitary miner’s unexpected success is a reminder of the decentralized nature of the Bitcoin network, where, despite the dominance of large mining pools, there remains room for individual participants to achieve substantial rewards. It highlights the game’s inherent unpredictability and the potential for significant returns, echoing the broader theme of Bitcoin’s volatility and allure.

As the crypto world evolves, stories like these continue to capture the imagination of enthusiasts and skeptics alike, showcasing both the potential highs and the inherent risks of engaging with cryptocurrency. The solo miner’s win is not only a personal triumph but also a symbol of the enduring appeal of Bitcoin’s original promise: a decentralized and open financial system where anyone, anywhere, can participate and succeed against all odds. Whether the future will hold more stories of such unlikely victories remains to be seen, but this incident will undoubtedly inspire those who dream of making it big in the world of Bitcoin.

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Exor has unanimously rejected Tether’s proposal to acquire its controlling 65.4% stake in Juventus Football Club.

Summary

Exor rejected Tether’s all-cash €1.1B proposal to acquire control of Juventus.
Tether offered €2.66 per share plus a €1B investment pledge for the club.
The Agnelli family reaffirmed its century-long commitment to Juventus ownership.

The Agnelli family holding company announced the decision on December 13, 2025, one day after Tether submitted its binding all-cash offer valued at approximately €1.1 billion.

Exor stated it “has no intention of selling any of its shares in Juventus to a third party, including but not restricted to El Salvador-based Tether.”

The board called Juventus as “a storied and successful club, of which Exor and the Agnelli family are the stable and proud shareholders for over a century.”

Tether offered €2.66 per share with €1 billion investment pledge
Tether’s proposal valued Juventus shares at €2.66 each, representing a 21% premium over the December 12 closing price of €2.19. The offer included a commitment to invest an additional €1 billion in club development if the transaction closed.

The stablecoin issuer planned to follow the Exor acquisition with a public tender offer for all remaining Juventus shares at identical pricing.

Tether CEO Paolo Ardoino framed the bid as personally motivated, calling himself a lifelong supporter who “grew up with this team.”

Exor CEO John Elkann emphasized the family’s century of stewardship. “Juventus has been part of my family for 102 years. Four generations have grown it, strengthened it, cared for it in difficult moments and celebrated it in happy ones,” Elkann said.

Tether already holds 11.5% stake as second-largest shareholder
Tether has accumulated an 11.5% position in Juventus since February 2025, making it the club’s second-largest shareholder behind Exor. The stake building preceded the formal acquisition proposal by several months.

The rejection leaves Tether’s strategic options limited. The company can maintain its minority stake, potentially increase it through open market purchases below the controlling threshold, or divest the position entirely.

The Agnelli family has controlled Juventus since 1923, navigating multiple crises including the 2006 Calciopoli scandal that saw the club relegated to Serie B.

The family maintained ownership throughout the episode and subsequent rebuilding.

Journalist

Posted: December 14, 2025

The Aave community is embroiled in an ownership crisis. Both the DAO (Decentralized Autonomous Organization) and the protocol’s service providers are fighting for revenue.  

At the centre of the crisis is Aave Labs, the service provider or one of the contractors that builds part of the DeFi lending protocol’s features. 

Who owns Aave’s fees?
According to multiple governance participants, contractors, including the Labs, were paid directly by the Aave [AAVE] DAO.

As a result, the user interfaces, brand, and other features and associated fees and revenues are “fully owned” by the DAO because it paid for them. 

However, a recent CowSwap integration changed that perception.

Under the new setup, swap fees no longer flowed to the DAO treasury, triggering backlash from delegates.

One of the token delegates estimated the DAO’s annual revenue loss to be at least $10 million. 

“A loss to the DAO over 365 days seen by at least over $10m, assuming a transfer of only $200k each week.”

Critics argued that the ParaSwap, which was replaced by CowSwap, shared revenue with the DAO. However, the current arrangement sidelined the DAO for the private service provider. 

Source: X

Delegates raise the alarm
Earlier this year, Aave Labs proposed a tokenization product, Horizon, alongside a token, but it was shot down by the DAO. 

For Marc Zeller, Founder of a token delegate and DAO service provider, Aave-Chan Initiative, Aave Labs’ “privatization” of protocol revenue was a “concerning” and “clear attack” on tokenholders. 

Source: X

Another VC partner, Louis, echoed a similar stance and added, 

“The biggest threat to any token and DAO is a competing, independent equity vehicle. AAVE tokenholders should push back much more aggressively against this long-term risk.”

Aave Labs defends itself
The Aave token buyback is currently being undertaken by the DAO and is one of the mechanisms by which value accrues to tokenholders. 

However, Stani Kulechov, the Founder of Aave stated that, 

“Aave Labs has been contributing to the protocol and its benefit for over 8 years…It is responsible for innovation with Aave V4 and similar other protocol iterations and GHO, all those primitives that we built accrue revenue to the Aave DAO.”

On-chain data from Blockworks Research showed Aave recorded more than $15 billion in net deposit flows during Q3 2025.

Source: Blockworks

That said, the alcoin’s price didn’t get caught up in the debate, as it remained range-bound around $200 for the past week. 

Final Thoughts

Aave protocol ownership remains contested between contractors and the DAO.
Critics claimed that Aave Labs, a contractor, is undermining the DAO and tokenholders.

Bitcoin price is trading below $90,000 and has now slipped under $89,000, changing hands near $88,794, down 1.46% in the last 24 hours.

One of the reasons behind today’s drop is growing concern over a possible interest rate hike by the Bank of Japan (BoJ).

Although no official rate increase has been announced, traders are reacting to historical patterns. Data shared by market analysts shows that Bitcoin fell between 23% and 31% after previous BoJ rate hikes.

Japan is the largest foreign holder of U.S. government debt. A tighter BoJ policy could force global investors to reduce risk exposure, which often impacts assets like Bitcoin.

Options Selling Caps Bitcoin’s UpsideBitwise Alpha head Jeff Park said Bitcoin’s upside remains limited due to continued selling pressure from long-term holders, often called OG Bitcoin holders.

According to Park, these holders are actively selling call options, which suppresses price movement and keeps volatility low.

“ETFs are buying spot Bitcoin and call options, but demand is still not strong enough to offset the steady options selling by long-term holders,” he said.

Volatility Drops SharplyBitcoin’s implied volatility has fallen sharply in recent weeks. After reaching about 63% in late November, volatility has now dropped to around 44%.

Low volatility often leads to sideways price action and limits sharp upward moves. Analysts say Bitcoin needs sustained higher volatility to break out of its current range.

ETFs and Bitcoin Show Different Market BehaviorAnother trend emerging in the market is the growing difference between Bitcoin ETF options and native Bitcoin options.

Options tied to the iShares Bitcoin Trust (IBIT) show strong demand for upside exposure, meaning investors are willing to pay more for bullish bets. In contrast, Bitcoin options on crypto platforms still show weaker demand for upside moves.

This difference suggests traditional investors are positioning for higher prices, while crypto-native holders continue to sell into rallies.

Long-Term Holders Continue to Supply the MarketMany early Bitcoin holders are using a covered call strategy, selling options against Bitcoin they already own.

This adds steady selling pressure and encourages market makers to hedge in a way that keeps prices moving within a narrow range. As a result, Bitcoin remains stuck in a high-supply, low-volatility environment.

What Could Change Bitcoin’s TrendJeff Park said Bitcoin could see stronger price action if one of two things happens: 

A slowdown in options selling by long-term holdersA sharp increase in demand for Bitcoin ETF optionsUntil then, Bitcoin may continue to struggle despite strong interest in ETFs and broader adoption.

For now, Bitcoin remains under pressure as macro uncertainty and market structure continue to limit upside momentum.

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Robinhood Markets and SoFi Technologies both outpaced the S&P 500, but which one will be better in 2026?

Robinhood Markets (HOOD 3.16%) and SoFi Technologies (SOFI +0.67%) have outperformed the S&P 500 this year due to strong demand for their financial products. SoFi's stock price has almost doubled this year, while Robinhood's share price has more than tripled.

Robinhood was the clear winner this year, but SoFi has a good shot at winning in 2026. Here's what you should know about both fintech companies heading into the New Year.

Image source: Getty Images.

Crypto transactions are critical for Robinhood's future growth
There's far more to Robinhood's business model than letting people trade crypto, but this segment makes it easier to justify the stock's 76 price-to-earnings (P/E) ratio.

Robinhood delivered tremendous third-quarter results, with revenue more than doubling year-over-year and net income jumping by 271%. Transaction revenue, net interest revenue, and "other revenues" all surged year over year, but transaction revenue is the most important.

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That part of Robinhood's business surged by 129% year over year, making up $730 million of the fintech's $1.27 billion in total sales. Crypto transactions increased by more than 300% year over year, totaling $268 million. Demand for crypto trading has been a major catalyst for Robinhood, which will be important when assessing SoFi's long-term growth opportunities.

Comments from Robinhood CFO Jason Warnick imply that the fourth quarter will be another blowout. He told investors that the company experienced record monthly trading volumes in October. The record activity was across equities, options, prediction markets, and futures. Margin balances also hit all-time highs.

SoFi approaches 1 million members leading up to its new crypto offering
SoFi's numbers weren't as exciting as Robinhood's financial results, but they were still enough to beat the S&P 500 this year. The fintech company delivered 38% year-over-year revenue growth and more than doubled its net income.

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However, revenue growth should accelerate significantly in 2026 due to two key factors. The first one is that SoFi is approaching 1 million members and continues to grow at a fast rate. More than 900,000 people use SoFi, and that figure is up by 35% year over year.

The second catalyst is that SoFi is bringing back crypto trading, which was discontinued in 2023 due to regulatory pressure. SoFi was trying to preserve its status as a chartered bank at the time.

Crypto trading was a big growth engine for the company, and this asset class has only become more popular. It's entirely possible that SoFi's revenue will double year over year in some 2026 quarters if cryptocurrencies remain hot. Crypto has been a big part of Robinhood's story, and it's now returning to SoFi's business model.

SoFi also has a lot of businesses that are already performing well. Its Money and Invest segments were up by 34% and 27% year over year, respectively, in Q3. Revenue from credit cards and referred loans surged by 48% and 85%. Crypto should give SoFi Invest a significant tailwind and make comparables easy for the company to beat.

The final verdict
Robinhood has grown faster than SoFi, but the tide may be shifting. SoFi's reentry into crypto is a seismic catalyst that changes its future. It's feasible for SoFi Invest revenue to more than double year over year, which would make the current price look like a bargain.

More crypto trading activity can also boost trading for equities and other assets that are available on SoFi. It's hard to imagine that crypto traders only trade crypto.

SoFi also trades at a 50 P/E ratio, which offers a better margin of safety than Robinhood's 76 P/E ratio. One major assumption is that SoFi's crypto trading will be widely adopted and become a growth driver, just as it was from 2019 to 2023.

Investors who are wary about SoFi's return to crypto trading may want to consider Robinhood, which is more established in crypto. Robinhood's investing products have also grown faster than SoFi Invest. The thesis behind SoFi outshining Robinhood primarily depends on crypto trading transactions.

This ETF offers a nice balance of growth and dividend income.

If you've got $500 burning a hole in your pocket and you're looking to invest it for many years in some promising stocks, consider the Vanguard Value ETF (VTV 0.33%). It's an index fund focused on value stocks, and if you're worried about a possible market correction or economic recession, it could be a great prospect for you.

Here's a closer look at the exchange-traded fund (ETF), how it invests its shareholder dollars, and its top holdings. (Remember that an ETF is a fund that trades like a stock, making it easy to get in and out of.)

Image source: Getty Images.

Meet the Vanguard Value ETF
The Vanguard Value ETF tracks the CRSP U.S. Large Cap Value Index, which measures the performance of large-capitalization value stocks. It determines which ones qualify as value stocks by assessing the following factors: price-to-book ratios, forward-looking price-to-earnings (P/E) ratios, historical price-to-earnings (P/E) ratios, price-to-dividend ratios, and price-to-sales ratios.

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Vanguard is known for low fees, among other things, and this ETF is no exception, sporting a tiny expense ratio (annual fee) of just 0.04%. So for every $10,000 you have invested in it, you'll pay only $4 per year in fees.

The table shows how the ETF has performed lately. I'm including the performance of the Vanguard S&P 500 ETF (VOO 1.11%) as well for comparison.

Fund

Five-Year Avg. Annual Return

10-Year Avg. Annual Return

15-Year Avg. Annual Return

Vanguard Value ETF

12.40%

11.55%

11.77%

Vanguard S&P 500 ETF

14.91%

14.76%

14.17%

Data source: Morningstar.com, as of Dec. 9, 2025.

It's true that the S&P 500 (^GSPC 1.07%) ETF has outperformed the value ETF, but that's because it includes many growth stocks -- which can fall harder during market pullbacks than value stocks likely will. Consider, too, that a standard S&P 500 fund will have roughly 40% of its total value in just its top 10 holdings -- out of 500 holdings.

By the way, those top 10 will include companies such as Nvidia, Apple, Microsoft, and Amazon. Nvidia alone recently made up about 8.5% of the value of the S&P 500 index.

What's in the Vanguard Value ETF?
So what, then, is in the Vanguard Value ETF? Here are the ETF's recent top holdings:

Stock

Percent of ETF

JPMorgan Chase

3.60%

Berkshire Hathaway, Class B

3.22%

ExxonMobil

2.12%

Johnson & Johnson

1.98%

Walmart

1.93%

AbbVie

1.68%

Home Depot

1.64%

Procter & Gamble

1.53%

Bank of America

1.39%

UnitedHealth Group

1.35%

Data source: Vanguard.com. As of Oct. 31, 2025.

Notably, these top 10 holdings make up only about 20% of the value ETF, so it's far less concentrated.

A final plus for the Vanguard Value ETF is that it sports a meaningful dividend yield, recently 2.1%. That's a lot more than the S&P 500 recently yielded, which was 1.1%.

So if you're looking for a promising investment for your $500 -- or whatever sum you want to invest -- consider this Vanguard ETF. It offers a nice balance of growth and income.

JPMorgan Chase is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Selena Maranjian has positions in AbbVie, Amazon, Apple, Berkshire Hathaway, Microsoft, Nvidia, and Procter & Gamble. The Motley Fool has positions in and recommends AbbVie, Amazon, Apple, Berkshire Hathaway, Home Depot, JPMorgan Chase, Microsoft, Nvidia, Vanguard Index Funds-Vanguard Value ETF, Vanguard S&P 500 ETF, and Walmart. The Motley Fool recommends Johnson & Johnson and UnitedHealth Group and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

Artificial intelligence (AI) is hungry for power, and Nano Nuclear Energy thinks its small reactors can feed the beast.

If you want a lesson on how fast markets can shift, just look at data centers. Once a mere line item on a tech company's balance sheet, these facilities are starting to garner as much press as the chips and servers inside them.

And for good reason, too. If chips are the neurons of artificial intelligence (AI), then data centers are its nervous system. And it appears the U.S. will need a lot more of them to support the increasingly ambitious AI buildout ahead. As OpenAI CEO Sam Altman put it: "I do guess that a lot of the world gets covered in data centers over time."

The problem with data centers? They need power. And a lot of it. And without investment in new power generation capacity, the possibility of straining local grids could cause delays unless infrastructure is updated.

In short, the world needs new energy capacity. And Nano Nuclear Energy (NNE 8.88%) thinks it might have the answer.

Image source: Getty Images.

What is Nano Nuclear Energy?
Nano Nuclear Energy is one of the few nuclear stocks whose name isn't symbolic or cutesy, but is literally indicative of what it is. In a nutshell, Nano is an advanced nuclear company focused on making small reactors. While not technically on the "nano" scale (that would be virtually impossible), its reactors are much smaller than the typical nuclear power plant.

That compactness is intended to make them faster and cheaper to assemble. The long-term idea is to ship reactors on trucks to clients who badly need reliable power, like data centers, remote industrial sites, or even isolated communities.

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Nano also envisions a vertically integrated future in which it not only builds reactors, but also makes and transports reactor fuel. The core of Nano's story, however, is its family of small reactors with epic names, like ZEUS, LOKI, and KRONOS, some of which are portable.

Although it's pre-revenue, the company has made some early strategic moves. In July 2024, it signed a memorandum of understanding (MOU) with Blockfusion to assess whether Nano's reactors can supply power to the data center operator's facility in Niagara Falls.

In November 2025, Nano also signed a paid feasibility study with BaRupOn to assess deploying several KRONOS reactors at the latter's 701-acre facility in Texas. The goal would be to supply 1 gigawatt of on-site nuclear power.

A reality check on Nano's valuation
For all its potential to power a future of AI, Nano isn't a safe stock. It doesn't have a license to build its microreactors commercially. While its KRONOS design is in early NRC pre-application stages, it's not clear when (and or) it will secure full approval.

Despite that, the stock isn't cheap. The company has a roughly $1.8 billion market valuation despite no revenue. Indeed, consensus estimates don't anticipate meaningful revenue for at least a couple of years.

NNE Revenue Estimates for Current Fiscal Year data by YCharts

Of course, this is a nuclear start-up, and, as such, expectations about future growth is driving the stock price right now. The flip side of that enthusiasm, however, is sharp volatility. If sentiment shifts, stocks like Nano can sell off hard, even if there's no real change in the underlying business.

So, is Nano Nuclear a compelling buy?
Nano is a compelling play on the future of energy and AI. But investors should know what they're buying, assessing shares according to their risk tolerance.

On the one hand, Nano has a macro story working in its favor. Governments are once again talking about nuclear power as a means to achieving several goals at once (AI buildout, climate, electrification), and recent federal initiatives in the U.S. could streamline licensing for advanced nuclear technology.

Nano also had about $210 million in cash and equivalents at the end of June, with a $400 million private placement of common stock on top of that.

At the same time, Nano has to secure NRC approval for its designs in order to turn on the spigot of revenue. The company is burning cash, and it might need to raise fresh capital in the future, especially if NRC design approval takes longer than expected.

In short, Nano is a compelling buy for aggressive investors. Those with more risk aversion might be better served by a nuclear energy exchange-traded fund (ETF).

This top cloud stock is trading 43% off its previous high as demand for AI cloud services is accelerating.

Oracle (ORCL 4.63%) shares currently trade about 43% below their recent highs. This sell-off comes amid accelerating demand for artificial intelligence (AI), with Oracle's remaining performance obligations increasing by 15% just over the previous quarter.

The accelerating growth in orders signals insatiable demand for AI cloud services, making now a great time to buy the stock while it's trading at a discounted valuation.

Image source: Getty Images.

Why buy Oracle stock
Chairman and Chief Technology Officer Larry Ellison said on the recent earnings call, "Training AI models on public data is the largest, fastest-growing business in history." Oracle's remaining performance obligations grew 438% over the year-ago quarter.

The amount of contracted revenue expected to be realized in the next 12 months increased 40% year over year, indicating that Oracle should experience accelerating revenue growth in the coming quarters.

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Oracle is well-positioned to deliver returns to investors. Businesses are turning to its cloud services due to its leadership in database management and enterprise applications. The stock's current valuation undervalues Oracle's competitive position. The shares are trading at 28 times forward earnings estimates, which is not expensive for a business expected to grow at high-double-digit rates for the foreseeable future.

Analysts expect Oracle's revenue to grow at an annualized rate of 31% through fiscal 2030, which is likely to lead to exceptional growth in earnings per share and drive outstanding returns for investors.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Oracle. The Motley Fool has a disclosure policy.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

© bigjom jom / Shutterstock.com

As the AI trade gets overheated and calls for some sort of bursting of the AI bubble grow louder, it might make sense to look to opportunities to be had within other sectors. Undoubtedly, the AI-fuelled tech boom may very well continue for another year or more, as the firms strive to be among the first to achieve some form of artificial general intelligence (AGI). Still, there’s no denying that the stakes are higher, along with valuations.

For investors seeking momentum beyond the AI trade, the biotech scene is starting to look interesting again after a strong year of recovery gains and a potential stage set for a year-end breakout. And given the lower degree of correlation to what’s powering the AI names higher, growth-focused investors might wish to give some of the long-forgotten biotech ETFs a second look.

Despite the newfound momentum, there are still great relative value plays, and, in this piece, we’ll check out a pair of names worth watching in the coming weeks and months.

iShares Biotechnology ETF
The iShares Biotechnology ETF (NASDAQ:IBB) is really starting to pick up traction, now up over 32% in the last six months, thanks in part to high hopes for low rates (the biotechs are quite capex-heavy businesses) and perhaps a rotation into some of the less economically-sensitive growth names. With the Federal Reserve recently cutting rates again while hinting at a slower pace from here, the biotech basket might require other catalysts to experience a much-awaited breakout to new highs.

If we are on the cusp of a rise in M&A activity, the biotech scene could certainly benefit from a bit of industry consolidation. Add the effect of AI on drug discovery into the equation, and perhaps it’s still a great time to be a net buyer of the names, especially considering valuations remain quite reasonable. On the whole, biotech valuations were overly cheap going into the year, but even after an S&P-beating year, they still seem to be modest.

Either way, the iShares Biotechnology ETF is one of the better ways to play the brilliance of the biotechs going into the new year. The ETF has a good mix of large-caps and mid-caps, but is quite top-heavy, making it an intriguing bet for investors seeking a perfect mix of defensive growth and slightly less volatility than the broad market (0.96 beta).

State Street SPDR S&P Biotech ETF
For investors seeking more growth and broader exposure to the lesser-known mid-caps, the State Street SPDR S&P Biotech ETF (NYSEARCA:XBI) is a great choice. Of course, you’re going to get a more turbulent ride, but for investors seeking to capitalize on a small-cap surge, I am a big fan of the ETF. Shares of the State Street SPDR S&P Biotech ETF are up a scorching 45% in the past six months.

Lower rates are a bigger deal for the smaller, up-and-coming biotechs, especially those that aren’t too (if at all) profitable in the present. Despite the sudden surge, the ETF is still down around 27% from its highs, making a breakout still a way away. For those comfortable with more correlation to the S&P (1.38 beta) and choppier moves, the broader State Street SPDR S&P Biotech ETF might be the right pick to go with.

Personally, I think there’s a strong case for owning the iShares Biotechnology ETF and the State Street SPDR S&P Biotech ETF together. You’re covering both bases, with a larger chunk allocated towards blue chips with the former and more elevated growth prospects with the latter. Either way, as rates continue to fall and AI looks to work its way into specific corners of biotech, I like the group and find them to be highly underrated.