Market Signal Briefing

TL;DR

Strategic Partnership: Huma Finance, Obligate, and TradeFlow have formed a joint initiative to expand access to trade finance liquidity.
Infrastructure Upgrade: Obligate’s introduction of eTrackers strengthens onchain integration, offering yield-accruing products that align with Huma’s liquidity network.
Global Expansion: Building on collaborations with Tala, Arf, and others, Huma’s PayFi network now processes $500 million monthly and holds $140 million in liquidity.

At Solana Breakpoint 2025, Huma Finance announced a strategic partnership with Obligate and TradeFlow to expand access to trade finance liquidity. The collaboration links Huma’s stablecoin liquidity network with institutional trade finance channels, creating a compliant and scalable value chain. This move follows Huma’s recent partnership with Tala, underscoring its momentum in building tokenized lending and payment solutions for global markets.

Commodity trade represents around 25% of global trade, $4.5 trillion per year yet much of its financing remains slow and capital-inefficient.

Excited to announce our strategic partnership with Obligate and TradeFlow Capital, expanding our PayFi network to fuel global trade with… pic.twitter.com/YiwPLmBe8c

— Huma Finance 🟣 🇦🇪 Solana Breakpoint (@humafinance) December 12, 2025

Meeting Growing Demand for Real World Asset Yield
Real-world asset exposure continues to attract institutions and DeFi users seeking stable returns uncorrelated with crypto cycles. TradeFlow, with over eight years of experience, manages flows across 25 markets and converts commodity trade finance into investment-grade assets. Its track record of issuing $USDC-denominated eNotes through Obligate laid the groundwork for this collaboration. The liquidity protocol will provide scalable stablecoin liquidity, enabling lenders to capture yield more frequently as capital recycles through the system.

Upgraded Infrastructure to Support Onchain Integration
Obligate has enhanced its platform with eTrackers, a yield-accruing product designed for compatibility with onchain liquidity networks, such as Huma. This infrastructure upgrade strengthens the delivery of sustainable-yield products to DeFi users, asset managers, and enterprises. Leaders from all three organizations emphasized the importance of transparency and efficiency, positioning the partnership as a milestone in building a stronger onchain financial ecosystem. Commodity trade, representing 25% of world trade valued at $4.5 trillion annually, highlights the scale of opportunity.

Expanding the Landscape of Onchain Finance
Visa’s recent report spotlighted Huma’s PayFi network, which processes over $500 million in monthly transaction volume and maintains $140 million in liquidity. These figures reflect the growing integration of real-world financial activity with blockchain infrastructure. Regulatory advances, such as the GENIUS Act, have further strengthened institutional participation. Platforms like HF are building structured pathways to bring traditional financial instruments into onchain markets, meeting rising demand for compliant exposure.

Building on Previous Momentum
The partnership builds on Huma’s earlier initiatives, including a $50 million $USDC credit facility with Tala to support underbanked communities. Collaborations with Arf, Geoswift, and PolyFlow expanded same-day settlement solutions for merchants across Asia, reducing delays tied to local banking hours.

These efforts demonstrate the liquidity protocol’s commitment to modernizing payments and credit access globally. By joining forces with Obligate and TradeFlow, Huma is reinforcing its role as a key player in bridging DeFi liquidity with institutional-grade finance.

Oracle added over $60 billion in RPO this quarter alone.

In today's video, I discuss recent updates affecting Oracle (ORCL 10.83%) and other AI stocks. To learn more, check out the short video, consider subscribing, and click the special offer link below.

*Stock prices used were the market prices of Dec. 11, 2025. The video was published on Dec. 11, 2025.

Jose Najarro has positions in Nvidia and Oracle. The Motley Fool has positions in and recommends Nvidia and Oracle. The Motley Fool has a disclosure policy. Jose Najarro 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.

More than nine billion voice notes are now sent every day, meaning they’ve become a new global symbol of digital distractionThey’re getting longer, more one sided, and killing the art of conversation - some 76% of people globally says voice notes tend to be self-involved and over half even feel that they are replacing IRL connectionsIn a new tech pilot, Heineken® has created a WhatsApp bot in a bid to transform long voice note monologues into real-life chatsApp users who receive voice notes lasting three minutes or longer can exchange them for a free beer - and it comes with a recommendation of local bars to try too AMSTERDAM, Dec. 12, 2025 (GLOBE NEWSWIRE) -- We’ve all been sent voice notes that - instead of offering a quick update - turn into miniature podcasts lasting what seems like forever.

In the increasingly digital world we live in, voice notes are turning into yet another distraction that encourages us to bury our heads in our smartphones rather than making real life connections. Now Heineken®, the champion of IRL socialising, has launched new WhatsApp technology that offers an ingenious incentive to those who’d prefer to meet up and connect face-to-face, bringing back the art of in person conversation.

The technology has been launched as a pilot in Brazil, where official data from META shows that Brazilians send four times as many voice notes than people in any other country.

The tech was devised after global research polling 14,000 respondents showed that in just one year, the average person spends almost 150 hours a year sending and receiving voice notes.

Not only are people spending a significant amount of time listening to voice notes, but they are impacting real-life social interactions too. Over half (52%) of those polled feel voice notes are replacing IRL interactions, rising to 60% amongst Gen Z. Nearly half (49%), meanwhile, admit to spending entire evenings sending voice notes to a friend instead of meeting in-person, even though 54% say they have their most fulfilling conversations face-to-face.

Global data and business intelligence platform Statista reported, in groundbreaking new data, that 9.4 billion WhatsApp voice notes are now sent every day (equivalent to about 3.4 trillion over the full year). When compared to 2024, their frequency has increased by 7%, and in length by 8%.

Stacy Jo Dixon, Social Media and Society Expert at Statista, said: “Our data suggests that voice notes are not just growing in frequency but also length. With nearly 9.5 billion voice notes sent daily on WhatsApp alone (compared to 7 billion in 2022), it’s evident that voice messaging is reshaping the way we communicate across the globe and taking on a more prominent role alongside traditional in-person interactions.”

While many use voice notes as a ‘catch up shortcut’, people are barely engaged with them. Over half (55%) admit they often forget to listen to them, and even when they do listen, attention is low: 88% forget what was actually said in the message.

Nabil Nasser, Global Head of HeinekenⓇ, said: "Just like we all know meetings that ‘could have been an email’, we’re now seeing voice notes that ‘Could have been a Heineken’.

“Voice notes can feel more personal than reading a message, but what our research shows is that we need to make sure they don’t turn into mini-podcasts, and that we’re having two-way conversations rather than an extended monologue.

“At Heineken, we want to make it easier for people to share moments of socialisation in real life. That’s why we have launched the ‘Could have been a Heineken’ WhatsApp bot, incentivising people to swap long voice notes for a refreshing in-person catch up over a beer of course.”

The ‘Could have been a Heineken’ WhatsApp technology is currently being tested in Brazil, with further global markets set to follow.

To redeem the offer, WhatsApp users over 18 must forward a voice note that they have received, which is longer than three minutes, to a private, encrypted bot. The user will then receive a message saying it ‘Could have been a Heineken’, alongside a voucher for a free beer and a recommendation of local bars to meet up with the friend in real life.

Notes to editors
Media contact:
[email protected]

Research Credits:
*Heineken commissioned a survey of 14,000 respondents across the United Kingdom, USA, Germany, India, Brazil, United Arab Emirates and Romania. Research conducted by OnePoll, November 2025.

*Separately, Heineken commissioned Statista to supply the global data on voice note usage in 2024 and 2025

About Heineken®
HEINEKEN® is the world's most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brewing a Better World", sustainability is embedded in the business. HEINEKEN® has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We employ over 85,000 employees and operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken® N.V. and Heineken® Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN® has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken® N.V. (OTCQX: HEINY) and Heineken® Holding N.V. (OTCQX: HKHHY)

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bd460a71-4e67-44c6-8b0c-cb1696242367

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

Exterior view of the new JPMorgan Chase global headquarters building at 270 Park Avenue on November 13, 2025 in New York City. (Photo by ANGELA WEISS / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)

AFP via Getty Images

JPMorgan stock (NYSE: JPM) has increased by approximately 29% year-to-date, significantly surpassing the 17% gain in the S&P 500 index during the same timeframe. Thus, the question is clear: why is JPMorgan continuing to excel—and can this momentum be sustained?

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Is JPMorgan Executing Better?

Pretty much. The bank’s earnings momentum has been robust this year. Throughout Q3 FY25, managed revenue rose 9% to $47.1 billion, while net income soared 12% to $14.4 billion ($5.07 per share), exceeding expectations. This strength was widespread. Asset & Wealth Management generated higher fees as AUM grew 18% to $4.6 trillion; Investment Banking rebounded with a 16% increase in fees as M&A and ECM activities resumed; and Markets remained a powerhouse with revenue up 25% compared to the previous year. JPMorgan also continued to reward shareholders, executing $8 billion in buybacks and distributing a $1.50 dividend during the quarter.

Monetary Policy Tailwinds?

The economic landscape has changed significantly following the Federal Reserve’s recent decision. On December 10, 2025, the Federal Open Market Committee (the Fed’s rate-setting body) implemented its third consecutive 25 basis points cut, lowering the federal funds rate to 3.50%–3.75% and indicating a clear shift from the previously hawkish stance. Markets responded swiftly, with Treasury yields retracting after Chair Powell indicated that additional hikes are no longer the baseline expectation. The 10-year yield fell to around 4.14%, down from levels exceeding 4.40% seen in June. This development has mixed implications for banks like JPMorgan.

Net Interest Income: Reduced rates could compress the gap between what banks earn on loans and what they pay on deposits, possibly capping Net Interest Income (NII), which was a significant tailwind in a high-rate environment. Nevertheless, JPMorgan's preliminary outlook for 2026 net interest income (excluding markets) indicates it could achieve $95 billion, demonstrating confidence in sustaining strong lending profitability.

Investment Banking Boost: The less hawkish stance, combined with decreasing yields and a more stable outlook, is generally very favorable for the Investment Banking sector. Lower credit costs and heightened market confidence typically motivate companies to proceed with mergers and acquisitions, IPOs, and debt issuances, which directly benefits JPMorgan's investment banking division.

Credit Quality: As the Fed eases, a gentler landing appears more probable. This should be advantageous for consumers and may decelerate the rise in credit losses that the bank had been bracing for. Still, management notes that consumers are in a weaker position compared to a year ago.

Rising Expenses Are A Key Concern

In spite of robust operating performance, the company is indicating a rise in its expense baseline for the coming year. Total expenses for 2026 are now estimated to be around $105 billion, as opposed to the consensus estimate closer to $100 billion. Management attributes the increased forecast to strategic, growth-oriented expenditures, including:

Increased compensation and volume-driven costs, particularly related to credit card growth.Heightened investments in technology and Artificial Intelligence (AI).Continued expansion of the physical branch network.This news resulted in a significant stock decline, reflecting investor apprehension regarding cost management versus the advantages of growth investments.

So, is the stock too expensive?

It depends on your perspective.

At about $310/share, JPM trades at around 2.9× tangible book value, which is a premium multiple compared to its peers. While this positions the bank as costly relative to competitors, it may be justified by a strong capital position, superior credit quality, and proactive risk management, potentially providing it an advantageous edge in the current environment. The return story is substantial, with aggressive share repurchases and a recent 7% dividend hike. Nevertheless, our internal assessment places the valuation at about $280/share, slightly below the market—indicating the stock is priced for perfection in the near term. Review our analysis of JPMorgan Valuation: Expensive or Cheap for deeper insights on what’s influencing the stock.

The Trefis High Quality (HQ) Portfolio, consisting of 30 stocks, boasts a history of consistently outperforming its benchmark, which encompasses all three – the S&P 500, S&P mid-cap, and Russell 2000 indices. What’s the reason? Overall, HQ Portfolio stocks have generated superior returns with lower risk compared to the benchmark index; presenting a smoother ride, as demonstrated in HQ Portfolio performance metrics.

Shore Capital thinks hVIVO PLC (AIM:HVO) shares are worth far more than the market price, despite a bruising year for the stock. The broker has reiterated its Buy rating and set a fair value of 25p a share, more than five times the current price of 4.8p.

The investment case rests on an improving backdrop for biotechnology companies in the US and what that could mean for demand at hVIVO, a specialist contract research organisation.

Funding conditions for biotech have been weak since the pandemic boom faded. That has made companies cautious about starting new clinical trials. For hVIVO, this has shown up in a shrinking order book and contract cancellations over the past 18 months.

Shore Capital points to signs that the cycle may be turning. In one day this week, eight US biotech groups raised about $3.2 billion through follow-on share sales, a recent record.

The main biotech indices are up more than 30% this year, helped by takeover activity and licensing deals. Stronger balance sheets matter for companies like hVIVO because they give clients the confidence to commit to new trials.

The broker says this is already easing some of the pressure that has held back contract research organisations. Political noise around US drug pricing has also cooled, reducing fears of cuts to research spending by large pharmaceutical groups.

For hVIVO, the key issue is timing. Shore Capital says a recovery in its human challenge trial business still needs to be backed up by contract wins before sentiment towards the shares can fully improve.

Management has warned that the pace of recovery is likely to be slow and may not gather momentum until 2026.

Two large opportunities could change that picture. One is a potential record contract with ILiAD for a pivotal trial linked to its BPZE1 vaccine, which is expected to enter phase III studies next year.

The other is a project with a large global pharmaceutical company that already has internal financial approval, with a final decision due next year.

Valuation is where Shore Capital sees the biggest disconnect. With a market value of £33 million and net cash of £23 million at the half year, the enterprise value is about £10 million.

That equates to just 0.6 times last twelve months' EV to EBITDA, or 1.5 times including lease liabilities. The broker argues this understates the long-term value of a profitable and cash-generative business that remains unique in its field.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

, /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, today announced that it will present at the J.P. Morgan Healthcare Conference on Wednesday, January 14, 2026, at 9:00 am PST in San Francisco, California.

The live webcast for this event can be accessed in the Investors section of the Company's website. A replay of this webcast will also be available on the Company's website for approximately 90 days after the event.

About West
West Pharmaceutical Services, Inc. is a leading provider of innovative, high-quality injectable solutions and services. As a trusted partner to established and emerging drug developers, West helps ensure the safe, effective containment and delivery of life-saving and life-enhancing medicines for patients. With over 10,000 team members across 50 sites including 25 manufacturing facilities worldwide, West helps support our customers by delivering over 41 billion components and devices each year.  

Headquartered in Exton, Pennsylvania, West in its fiscal year 2024 generated $2.89 billion in net sales. West is traded on the New York Stock Exchange (NYSE: WST) and is included on the Standard & Poor's 500 index. For more information, visit www.westpharma.com. 

All trademarks and registered trademarks used in this release are the property of West Pharmaceutical Services, Inc. or its subsidiaries, in the United States and other jurisdictions, unless otherwise noted. 

SOURCE West Pharmaceutical Services, Inc.

KELLOGG, Idaho and VANCOUVER, British Columbia, Dec. 12, 2025 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V:BNKR |OTCQB:BHLL) is pleased to announce that further to the news release dated October 27, 2025, the Company and its wholly-owned subsidiary Silver Valley Metals Corp. (“Silver Valley”) has closed its previously announced asset purchase with Silver Dollar Resources (Idaho) Inc., a subsidiary of Silver Dollar Resources Inc. (“Silver Dollar”), which includes the option to acquire up to a 100% interest in the Ranger-Page mineral interests, covering the sites of six past-producing underground high-grade silver-lead-zinc mines located immediately adjacent to and to the west of the Bunker Hill Mine (the “Bunker Hill Mine”) in the prolific Silver Valley mining district of Idaho, USA (the “Ranger-Page Project”), and a 75% interest in the Government Gulch property (the “Blackhawk Property”, together with the Ranger-Page Project the ”Acquired Properties”).

December 12, 2025 6:00 AM EST | Source: Happy Belly Food Group Inc.
Toronto, Ontario--(Newsfile Corp. - December 12, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada is pleased to announce the grand opening of Heal Wellness ("Heal") in the Toronto Eaton Centre, one of the busiest and most visited retail destinations in North America. This opening marks a major milestone for the brand as it officially becomes Heal's 30th operating location nationwide. Heal Wellness is a quick-service restaurant ("QSR") brand specializing in fresh smoothie bowls, açaí bowls, and smoothies.

Happy Belly 1

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"Opening in the Toronto Eaton Centre is a major step forward for Heal's expansion and brand visibility," said Sean Black, Chief Executive Officer of Happy Belly. "The Centre attracts more than 50 million visitors annually, offering unparalleled foot traffic and a diverse customer base of residents, office workers, students, and tourists. This is exactly the type of high-quality trade area that fuels our predictable, disciplined, and scalable growth model. I would like to thank the team at Cadillac Fairview for this opportunity."

Located in the heart of downtown Toronto, the Eaton Centre provides exceptional access to a dense and energetic urban population. The new Heal Wellness location is also positioned within close proximity to Toronto Metropolitan University (TMU), home to roughly 40,000 undergraduate and graduate students, creating a robust daily flow of young, health-conscious consumers who value convenient, better-for-you meal options that fit seamlessly into their active routines.

"Heal Wellness continues to expand rapidly across Canada and into the United States, solidifying its position as a leading acai and smoothie bowl brand. With 30 locations now open and more than 168 in development, Heal contributes to Happy Belly's broader portfolio of 646 contractually committed retail franchise locations across multiple emerging brands in various stages of development, construction, and operation. Our predictable and disciplined growth engine continues to deliver measurable results as we expand our brands across Canada and create long-term value for our shareholders."

Happy Belly 2

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"We are just getting started," added Sean Black.

About Heal Wellness
Heal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Happy Belly 3

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Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, Chief Operating Officer

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277833

SAN DIEGO, Dec. 12, 2025 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers of Integer Holdings Corporation (NYSE: ITGR) common stock between July 25, 2024 and October 22, 2025, inclusive (the “Class Period”), have until February 9, 2026 to seek appointment as lead plaintiff of the Integer Holdings class action lawsuit. Captioned West Palm Beach Firefighters’ Pension Fund v. Integer Holdings Corporation, No. 25-cv-10251 (S.D.N.Y.), the Integer Holdings class action lawsuit charges Integer Holdings and certain of Integer Holdings’ top executives and advisors with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Integer Holdings class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-integer-holdings-corporation-class-action-lawsuit-itgr.html

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: Integer Holdings operates as a medical device contract development and manufacturing company.

The Integer Holdings class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Integer Holdings materially overstated its competitive position within the growing electrophysiology (“EP”) manufacturing market; (ii) despite Integer Holdings’ claims of strong visibility into customer demand, Integer Holdings was experiencing a sustained deterioration in sales relating to two of its EP devices; and (iii) in turn, Integer Holdings mischaracterized its EP devices as a long-term growth driver for its Cardio & Vascular segment.

The Integer Holdings class action lawsuit further alleges that on October 23, 2025, Integer Holdings disclosed that it had lowered its full-year 2025 sales guidance, which fell short of analysts’ estimates. Additionally, Integer Holdings informed investors that it expected net sales growth of -2% to 2% and organic sales growth of 0% and 4% for the full year of 2026, according to the complaint. Integer Holdings CEO, defendant Joseph W. Dziedzic, further allegedly stated that, “[w]hile select headwinds are expected to impact our 2026 sales, we believe our strategy and strong product development pipeline will lead to a return to 200 basis points above-market organic growth in 2027.” On this news, the price of Integer Holdings common stock fell more than 32%, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Integer Holdings common stock during the Class Period to seek appointment as lead plaintiff in the Integer Holdings class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Integer Holdings investor class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Integer Holdings shareholder class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Integer Holdings class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes. 
Services may be performed by attorneys in any of our offices. 

Contact:
        Robbins Geller Rudman & Dowd LLP
        J.C. Sanchez, Jennifer N. Caringal
        655 W. Broadway, Suite 1900, San Diego, CA 92101
        800-449-4900
        [email protected]

December 12, 2025 06:05 ET

 | Source:

PhenixFIN Corporation

NEW YORK, Dec. 12, 2025 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the "Company"), a publicly traded business development company, today announced its financial results for the fiscal year and the fourth fiscal quarter of 2025.

Highlights

Fourth quarter total investment income of $6.9 million; net investment income of $1.4 millionNet asset value (NAV) of $160.8 million, or $80.24 per share as of September 30, 2025, vs. $79.37 per share as of September 30, 2024Weighted average yield was 12.8% on debt and other income producing investments as of the fiscal year end David Lorber, Chief Executive Officer of the Company, stated:

“Throughout fiscal year 2025, we remained focused on executing our strategy to grow NAV per share and enhance shareholder value. We continued our share repurchase program throughout the year, and in February we paid a special dividend of $1.43 per share. As always, we actively monitor our portfolio and assess potential impacts from economic and market developments. During the quarter, upon First Brands Group’s delayed refinancing of the First Lien Term Loan, we quickly sold our entire position at nearly par (95.5), a demonstration of our nimbleness in seeking to protect capital when our investment outlook changes. We look forward to delivering continued value for shareholders in 2026 and beyond.”

Selected Fourth Quarter 2025 Financial Results for the Quarter Ended September 30, 2025:

Total investment income was $6.9 million of which $6.7 million was attributable to portfolio interest and dividend income and $0.2 million was attributable to fee and other income.

Total net expenses were $5.5 million and total net investment income was $1.4 million.

The Company recorded a net realized loss of $0.04 million and net unrealized gain of $2.2 million.  

Portfolio and Investment Activities for the Quarter Ended September 30, 2025:

The fair value of the Company's investment portfolio totaled $302.3 million and consisted of 36 portfolio companies.

The Company had 1 portfolio company investment on non-accrual status with a fair market value of $0.0 million.

Liquidity and Capital Resources

At September 30, 2025, the Company had $7.3 million in cash and cash equivalents, $59.2 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $90.0 million outstanding under the Credit Facility.

ABOUT PHENIXFIN CORPORATION

PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Effective January 1, 2021, the Company operates under an internalized management structure.

 SAFE HARBOR STATEMENT AND OTHER DISCLOSURES

This press release contains “forward-looking” statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, PhenixFIN’s ability to deliver value to shareholders, increase investment activity, increase net investment income, implement its investment strategy and achieve its investment objective, source and capitalize on investment opportunities, grow its net asset value and perform well in the prevailing market environment, the ability of our portfolio companies to perform well and generate income and other factors that are enumerated in the Company’s periodic filings with the Securities and Exchange Commission. PhenixFIN Corporation disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.

Past performance is not a guarantee of future results. The press release contains unaudited financial results. For ease of review, we have excluded the word "approximately" when rounding the results. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of PhenixFIN Corporation’s common stock. There can be no assurance that PhenixFIN Corporation will achieve its investment objective. 

For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact [email protected].

PHENIXFIN CORPORATIONConsolidated Statements of Assets and Liabilities   September 30,
2025  September 30,
2024 Assets:      Investments at fair value      Non-controlled, non-affiliated investments (amortized cost of $139,342,491 and $143,179,354 respectively) $145,280,169  $142,233,426 Affiliated investments (amortized cost of $35,390,223 and $20,564,242, respectively)  35,381,405   14,750,785 Controlled investments (amortized cost of $149,656,451 and $97,016,429, respectively)  121,610,914   70,931,647 Total Investments at fair value  302,272,488   227,915,858 Cash and cash equivalents  7,289,371   67,571,559 Receivables:        Interest receivable  1,203,404   1,313,598 Other receivable  44,971   65,838 Dividends receivable  42,950   23,468 Other assets  2,746,775   1,066,323 Deferred tax asset, net  1,234,847   887,099 Deferred financing costs  1,384,767   760,680 Due from Affiliate  572,331   90,500 Prepaid share repurchase  96,342   101,115 Receivable for investments sold  21,549   2,955,775 Total Assets $316,909,795  $302,751,813          Liabilities:        Credit facility and notes payable (net of debt issuance costs of $1,141,393 and $1,510,815, respectively) $148,011,724  $135,723,636 Accounts payable and accrued expenses  4,226,889   5,570,150 Other liabilities  2,439,405   294,063 Interest and fees payable  1,187,574   768,043 Taxes payable  137,538   - Due to Affiliate  132,365   88,148 Total Liabilities  156,135,495   142,444,040          Commitments and Contingencies (see Note 8)                 Net Assets:        Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,723,709 shares issued; 2,003,769 and 2,019,778 common shares outstanding, respectively  2,004   2,020 Capital in excess of par value  704,640,648   704,909,588 Total distributable earnings (loss)  (543,868,352)  (544,603,835)Total Net Assets  160,774,300   160,307,773 Total Liabilities and Net Assets $316,909,795  $302,751,813          Net Asset Value Per Common Share $80.24  $79.37   PHENIXFIN CORPORATION
Consolidated Statements of Operations
   For the Year Ended September 30,   2025  2024  2023 Interest Income:         Interest from investments         Non-controlled, non-affiliated investments:            Cash $12,190,186  $10,231,111  $8,031,539 Payment in-kind  1,355,918   938,879   506,555 Affiliated investments:            Cash  614,409   742,881   1,925,293 Payment in-kind  -   -   460,856 Controlled investments:            Cash  2,452,227   2,121,713   667,312 Payment in-kind  -   268,831   557,981 Total interest income  16,612,740   14,303,415   12,149,536 Dividend income            Non-controlled, non-affiliated investments  2,183,106   2,691,393   3,139,592 Affiliated investments  254,231   199,388   - Controlled investments  5,024,928   3,972,352   3,716,676 Total dividend income  7,462,265   6,863,133   6,856,268 Interest from cash and cash equivalents  194,954   500,079   400,031 Fee income (see Note 9)  992,363   514,949   324,290 Other income  -   22   402,138 Total Investment Income  25,262,322   22,181,598   20,132,263              Expenses:            Interest and financing expenses  10,278,961   6,609,473   5,531,833 Salaries and benefits  5,067,324   6,850,792   4,186,852 Professional fees, net  1,977,541   1,462,766   1,404,676 General and administrative expenses  1,239,221   1,093,922   983,274 Directors fees  816,000   750,000   728,833 Administrator expenses (see Note 6)  404,941   301,931   320,310 Insurance expenses  338,013   378,854   466,319 Total expenses  20,122,001   17,447,738   13,622,097 Net Investment Income  5,140,321   4,733,860   6,510,166              Realized and unrealized gains (losses) on investments            Net realized gains (losses):            Non-controlled, non-affiliated investments  (1,618,869)  740,924   (10,538,228)Affiliated investments  (10,316,867)  (1,991,456)  (1,018,267)Controlled investments  13,230   8,542,831   23,456 Total net realized gains (losses)  (11,922,506)  7,292,299   (11,533,039)Net change in unrealized gains (losses):            Non-controlled, non-affiliated investments  6,883,606   7,862,162   15,954,552 Affiliated investments  5,804,639   5,130,836   7,327,399 Controlled investments  (1,960,755)  (7,287,134)  8,659,262 Total net change in unrealized gains (losses)  10,727,490   5,705,864   31,941,213 Deferred tax benefit (expense)  210,210   887,099   - Total realized and unrealized gains (losses)  (984,806)  13,885,262   20,408,174              Net Increase (Decrease) in Net Assets Resulting from Operations $4,155,515  $18,619,122  $26,918,340              Weighted average basic and diluted earnings per common share $2.06  $9.13  $12.87 Weighted average common shares outstanding - basic and diluted (see Note 11)  2,015,157   2,040,253   2,092,326 

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

, /PRNewswire/ - Rock Tech Lithium Inc. (TSX-V: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce that it has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.

The agreement between the Company and ICP was signed with a start date of December 11th, 2025, and is for four (4) months (the "Initial Term") and shall be automatically renewed for subsequent one (1) month terms (each such month, an "Additional Term") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. ICP will be paid a cash monthly fee of C$7,500, plus applicable taxes from the Company's general working capital. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement.

ICP does not currently have any direct or indirect interest in the Company or its securities. ICP and its clients may acquire an interest in the securities of the Company in the future.

ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.

ABOUT ICP SECURITIES INC.

ICP Securities Inc. is a Toronto-based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

ABOUT ROCK TECH

Rock Tech is enabling the battery age by making the battery industries in Europe and North America more independent and competitive. The Company's goal is to ensure the supply of high-quality, locally produced lithium – supporting a resilient, sustainable, and transparent value chain from mine to battery-grade material.

Rock Tech relies on responsible sourcing, state-of-the-art and proven technologies, and a clear focus on circular economy principles. The Company's lithium hydroxide converter projects in Guben, Germany (24,000 tonnes LHM per year) and Ontario, Canada (up to 36,000 tonnes LCE per year) form the foundation for a stable and regional supply to the battery and automotive industries. The Guben converter has been recognized as a strategic project under the EU Critical Raw Materials Act.

The raw materials for Rock Tech's converter projects are sourced exclusively from verifiably ESG-compliant suppliers. In Canada, Rock Tech relies, among other sources, on its wholly owned Georgia Lake Project, which ensures a stable and sustainable supply for the North American market and is being developed in close partnership with local First Nations communities. By integrating recycled materials, the company aims to close the local battery loop.

With its facilities, Rock Tech makes a central contribution to battery-grade material sovereignty and the achievement of climate targets. The company works in partnership with industry, policymakers, and community groups, and is committed to open communication and the highest environmental standards.

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION

Certain statements contained in this news release constitute "forward-looking information" under applicable securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking information pertaining to: the partnership between the Company and ICP,  the market making activities to be performed by ICP; the anticipated benefits of the market making arrangement, including the potential for improved liquidity and trading in the Company's shares; and the Company's broader business strategy, including its role in Europe's battery supply chain and contribution to the energy transition. Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from the forward-looking statements. Key risks and uncertainties include, but are not limited to: failure of ICP to provide effective market making services and the impact of such failure on the liquidity and trading of the Company's shares; changes in market conditions, trading volumes, or regulatory requirements; and the Company's ability to execute its business strategy and achieve its objectives. There may also be other factors that cause actual results to differ materially from the forward-looking statements, including the risks, uncertainties and other factors discussed in the Company's most recent management's discussion and analysis and annual information form filed with the applicable securities regulators. Forward-looking information is based on certain assumptions, estimates, expectations and opinions of the Company and, in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made, including assumptions regarding: the ability of ICP to provide market making services as agreed; the Company's ability to advance its projects as planned; the accuracy of technical and economic analyses for the Company's projects; and the Company's ability to secure necessary permits, financing, and regulatory approvals. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and the Company cautions the reader not to place undue reliance upon any such forward-looking statements. The Company does not intend, nor does it assume any obligation to update or revise any of the forward-looking statements, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 

SOURCE Rock Tech Lithium Inc.

YouTube now lets U.S.-based creators to receive payouts in PayPal's PYUSD stablecoin, according to a Thursday report from Fortune.

The new feature builds on YouTube's existing relationship with PayPal. In the third quarter of 2025, PayPal reportedly began offering bulk-payment recipients — such as independent contractors — the option to receive their payouts in stablecoins.

The U.S. dollar-pegged PYUSD stablecoin, launched in 2023, currently holds a market capitalization of $3.9 billion and saw $113 million worth of trade volume in the past 24 hours, according to The Block's price page. It stands as the world's eighth-largest stablecoin as of Dec. 12.

While currently limited to U.S. creators, this expansion of PYUSD's relationship with YouTube — a platform with over 2.7 billion monthly users — could significantly increase the stablecoin's adoption. In September, YouTube revealed that it had paid creators over $100 billion in the past four years.

The Block has reached out to Google and PayPal for comment.

Outside of YouTube, PayPal has continued to expand PYUSD across its suite of products. It allows users to hold the stablecoin in its Venmo digital wallet. Back in July, PayPal said users can pay small businesses in dozens of cryptocurrencies, which are converted into PYUSD at checkout.

The stablecoin sector as a whole has seen notable global growth and adoption, largely spurred by U.S. President Donald Trump's aggressive endorsement and the subsequent passage of the GENIUS Act.

Fueled by the U.S. regulatory push for its already-dominant stablecoin, numerous other economies — including the UK, South Korea, and Japan — have been prompted to introduce new rules designed to regulate and promote stablecoins pegged to their own local currencies.

The Block's data shows that the entire stablecoin market capitalization sits around $300 billion, while U.S. Treasury Secretary Scott Bessent has projected the market to reach $3 trillion by 2030.

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.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

XRP Price remains above the $2 mark after a slight recovery, continuing to hover near its support level. 

Within the last 24 hours, XRP price rose by 2% to $2.04 as the cryptocurrency market recovered following a 9% drop in a month. Bitcoin price also experienced a significant rise, hitting over 92k following a 3% growth.

Ether also saw an increase, hovering over $3,200 in a bullish trend. Other large altcoins have done the same with a bullish recovery in the market, such as Solana, Cardano, Chainlink, and Dogecoin.

XRP Spot ETFs Achieve a Streak of 19 Consecutive Days of Inflows
XRP Spot ETFs have been in an impressive streak with 19 consecutive days of inflows. On December 11, the fund experienced another good day as the total net inflow of the fund standing at an impressive $16.42 million per day.

According to the cumulative amount of net inflow, it is now at the level of $970.75 million, which indicates the increasing investor confidence in XRP. As these inflows are sustained, the trend does not indicate any slowdown, which supports the market position of XRP.

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This flow of capital into the XRP Spot ETFs underscores the growing popularity of the funds among investors seeking to be exposed to XRP via a regulated fund. 

How long this streak persists is interesting, and what it promises to the future of XRP in the larger cryptocurrency world remains to be seen.

Hex Trust Launches Wrapped XRP on Solana
Wrapped XRP (wXRP), fully backed by native XRP, is being launched by Hex Trust with LayerZero technology. The purpose of this step is to increase the usefulness of XRP both in decentralized finance (DeFi) and interchain services.

The first release will take place on Solana, and other blockchains should be implemented. The offering is regarded as a major move in the direction of institutional expansion of the use of XRP in the DeFi realm.

XRP Price Surge Eyes $3 Resistance
The XRP price surged to $2.04 recently, marking a positive movement after a period of consolidation. 

The XRP price had been moving within a tight range over a period of time, with the support level at about $2.00.

The technical indicators of the chart indicate a possible increase in the price to the $3.00 level; a major breakout may take place. 

The bullish run in the XRP price may be sustained, presently up 46%, as long as the resistance points of $2.50 and $2.80 are maintained.

Source: XRP/USD 4-hour chart: Tradingview
The recent spike of XRP is a continuation of a trend of rising purchase behavior, as a positive MACD signal reflects the emergence of rising bullish momentum. However, a failure to maintain the current levels could see the price retreating back towards the support zone of $2.00.

Google’s video-sharing platform has taken a first step into crypto, enabling stablecoin payments for content creators.

YouTube has enabled PayPal stablecoin (PYSUD) payments to US-based content creators. PayPal’s head of crypto, May Zabaneh, confirmed the arrangement to Fortune on Friday.

YouTube will not be handling crypto and will let PayPal do the work on its behalf, added Zabaneh.

“The beauty of what we’ve built is that YouTube doesn’t have to touch crypto, and so we can help take away that complexity,”

Google also confirmed the move to the outlet but did not elaborate with further details.

paypal’s pyusd, issued by @Paxos, now available for youtube creator payouts pic.twitter.com/MYFK3KQSes

— Mike Dudas (@mdudas) December 12, 2025

Stablecoin Payment Landscape Growing
YouTube already uses PayPal services to help large enterprises pay gig workers and contractors, it stated.

“The creator economy is worth over $250 billion and growing fast. Routing even a fraction of that through stablecoins changes everything,” commented ‘ChainIsle’.

Earlier this year, PayPal added the capability for payment recipients to receive their pay in PYUSD, the centralized stablecoin it launched in 2023.

PYUSD has grown since then to become the world’s sixth-largest stablecoin with a market capitalization of $3.9 billion. Its supply is more than a billion dollars, more than the Trump family’s World Liberty Finance stablecoin, USD1.

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The fintech firm has been integrating the stablecoin across its products, including Venmo, merchant payments, and vendor payouts. Google Cloud has also previously accepted PYUSD payments from customers. In July, PayPal launched “Pay with Crypto,” allowing merchants to accept payments in over 100 cryptocurrencies with automatic conversion to stablecoins or fiat currency.

PayPal also rolled out peer-to-peer crypto transfers in September, allowing users to send Bitcoin, Ethereum, and PYUSD to friends, family, and external wallets using shareable links.

Stablecoin Ecosystem Outlook
The total market capitalization for stablecoins is at record highs of over $300 billion, according to crypto analytics platforms.

It represents around 10% of the entire crypto market capitalization, according to CoinGecko, and there has been huge growth in 2025, following the passage of the GENIUS Act in the US.

Tether remains the dominant industry player with 60% market share, while PayPal’s PYUSD is just 1.2% despite recent growth.

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Stellar (XLM) prints a TD Sequential buy at long-term support as a falling wedge and record network metrics hint at a potential bullish breakout.

Summary

TD Sequential buy signal appears on Stellar’s weekly chart inside a key demand zone where past rallies began.​
XLM trades near multi‑year lows within a falling wedge as active wallets, transactions, and TVL hit record levels in 2025.​
Soroban smart contracts, asset tokenization plans, and broader crypto market trends could decide whether Stellar confirms a breakout.

Stellar (XLM) has generated a TD Sequential buy signal while trading in what technical analysts describe as a critical price range, according to Live Bitcoin News.

TD Sequential to buy signal
The STELLAR (XLM) active wallets have surpassed 142 million, with transactions reaching over 208 billion, the report stated. The network’s total value locked has reached record levels in 2025, according to on-chain data.

The TD Sequential indicator, a technical analysis tool monitored by market participants, has issued a buy signal on weekly charts near demand zones. Historical data shows the signal has preceded price rallies in previous instances, according to technical analysts.

The token is trading near its lowest levels since the early stages of the network’s operation. Price charts display a falling wedge pattern on weekly timeframes, a formation that technical analysts classify as a bullish continuation indicator.

The Stellar network’s consensus layer processes international payments with immediate settlement capabilities, according to network specifications. Soroban smart contracts provide decentralized finance functionality on the platform. The network supports money transfer services and operates hundreds of thousands of anchor points globally, integrating multiple payment gateways into its infrastructure.

Major platforms have adopted the token for payment operations, the report noted.

Price declined from summer highs, with weekly candlestick patterns showing consolidation similar to formations that preceded upward movements in historical data. The token has stabilized around technical support levels, with resistance at the upper boundary of the wedge pattern.

Technical analysts note that broader cryptocurrency market conditions, including Bitcoin price trends, typically influence altcoin performance. The network is implementing enhanced smart contract functionality and launching physical asset tokenization capabilities, according to development updates.

Breakout confirmation requires validation through sustained price movement above resistance levels, technical analysts stated.

XRP trades near $2.03 after dropping 15.7% over the last 30 days, and this decline shapes the backdrop for a sudden rise in whale activity that caught the market’s attention. The XRP Ledger recorded seven large transfers that settled within minutes, and the precision of the movements raised questions about institutional intentions and liquidity planning.

A tweet highlighted the shift first through a post that spread quickly among analysts. His update showed seven wallets each receiving 100 million XRP. Four sending wallets connected to Ripple-linked accounts, while three other addresses did not match any known cluster. This mix of recognized and unknown participants created interest across the monitoring community.

On-Chain Evidence of Coordinated MovementTrusted explorers show each transfer moving exactly 100 million XRP. The transactions settled inside a narrow window, and the timing signaled a coordinated plan. Retail users rarely move funds with this level of precision, so analysts examined the structure carefully to understand its purpose. The movements raised logical questions because such alignment usually reflects internal planning or institutional flows.

Four wallets in the transfer wave linked directly to Ripple activity. These wallets often handle liquidity management, settlement support, or internal reorganization. Ripple conducts large movements during treasury planning cycles, and this latest sequence aligned with previous operational adjustments. The transfers reflected structured positioning rather than any market-facing action.

Unknown Wallets Add New SuspenseThree wallets in the group did not match any recognized entity. These addresses held no prior links to exchanges, custodians, or OTC desks. Analysts tracked their behavior because synchronized allocation often signals new strategic participants. These wallets created speculation about fresh institutional entry or new custodial frameworks preparing for ecosystem involvement.

Market Reaction and Liquidity TrackingThe market watched XRP price behavior closely as the transfers settled. Large movements often influence sentiment because liquidity conditions shift quickly when major addresses reorganize their holdings. Traders monitored exchange inflows to check for any sign of potential activity that could affect short-term volatility. The community also tracked whether the seven wallets would reveal any new patterns that point toward broader operational use.

Insights from On-Chain Treasury ReviewA deeper on-chain review uncovered a structured treasury operation inside Ripple’s wallet framework. Ripple funded six new wallets with 100 million XRP each, which totaled 600 million XRP. 

Two source wallets drained completely during this process, which signaled a controlled redistribution across smaller internal units. Ripple divided the holdings into tranches that can support future deployments across various corporate needs.

Source: X

Context from the TOXR ETF LaunchThe timing aligned with a major ecosystem milestone. The 21Shares XRP ETF (TOXR) launched on the Cboe BZX Exchange after the SEC declared the issuer’s S-1 effective. The ETF tracks the CME CF XRP-Dollar Reference Rate and uses a 0.3% sponsor fee. 

Executives at 21Shares said U.S. investors continue to request wider access to crypto products with strong regulatory structure, and demand for XRP exposure has climbed steadily. XRP-backed ETFs in the U.S. already crossed $1 billion in cumulative inflows before this launch, and the new listing may increase competition among issuers.

What Analysts Monitor NextAnalysts continue to track all seven wallets for new transfers. Any movement toward exchanges may create fresh signals about near-term liquidity behavior. Clustering patterns may also reveal whether the unknown addresses relate to Ripple’s internal structure or new institutional actors. The synchronized 100 million XRP transactions illustrate strategic preparation during a key moment for XRP as ETF expansion, institutional interest, and on-chain restructuring converge.

Bitcoin’s growth history shows notable patterns that analysts often use to project future trends. Recently, Jurrien Timmer, Director of Global Macro at Fidelity, released a fresh analysis based on Bitcoin’s developmental wave model.

Experts remain optimistic about next year, yet they still present their outlook with caution.

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How Strong Is Bitcoin’s Sixth Growth Wave?In a recent report, Jurrien Timmer highlighted that Bitcoin’s wave-development model shows each new growth cycle expands with a smaller magnitude but lasts longer.

Using historical data since 2010, Timmer suggested that Bitcoin is currently in its fifth wave. The cycle began at the 2022 bottom of $16,603 and may reach a projected peak of around $151,360.

“It’s hard to tell in real time whether a new winter is upon us. But the evolving wave structure of Bitcoin’s maturing network curve shows that the most recent bull market (from around $16,000 in 2022) looks pretty mature,” Jurrien Timmer said.

5 Waves of Bitcoin Growth. Source: FidelityIn the short term, he remains optimistic about Bitcoin’s year-end performance. Investor sentiment has improved thanks to the Federal Reserve’s monetary easing.

In the long term, he hinted at a sixth growth wave. The model utilizes linear projections derived from data collected over the previous five waves.

According to this model, Bitcoin’s Descending Slope chart (in pink) indicates:

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Bitcoin’s Descending Slope. Source: Fidelity
Wave 4: BTC grew 20 times over 153 weeks from its bottom to its top.
Wave 5 (ongoing): BTC may grow 9 times over 160 weeks.
Wave 6 (upcoming): BTC may grow approximately 5 times over 168 weeks.
However, the model does not determine the exact bottom that will start Wave 6. Timmer suggested a potential support level at the current cycle’s floor around $80,554.

These projections indicate a relatively positive start for 2026, as Bitcoin has not yet completed its fifth wave.

Jimmy Xue, COO and Co-founder of Axis, shared a similar outlook with BeInCrypto. He expects the effect of the Fed’s rate cuts to show up soon.

“We are leaning towards a period of stabilization and chop rather than a V-shape rebound immediately. The market needs time to absorb the recent volatility. However, the medium-term setup remains bullish for Q1 2026 as the rate cuts eventually cycle into global liquidity and institutional allocations reset in January,” Jimmy Xue told BeInCrypto.

However, some observations point to a more pessimistic scenario. The year 2026 is a midterm election year. Historical performance shows that Bitcoin tends to perform poorly in such years, with drawdowns ranging from 60% to 75%.

These contrasting analyses signal an adventurous 2026 for investors. Institutional investors, in particular, have continued to accumulate BTC over the past two years since Bitcoin ETFs received approval.

Bitcoin is no longer just a grassroots monetary revolution. It’s in the process of moving from the periphery of finance into its centre. The rise of Bitcoin treasury companies is a major force behind this shift. These are firms that accumulate bitcoin not as a side bet, but as a core balance sheet holding. In doing so, they provide access to capital markets, offer yield-bearing instruments, and reshape how companies think about monetary preservation.

This article explores what Bitcoin treasury companies are, how they operate, and why their emergence matters, for both corporate finance and Bitcoin’s long-term trajectory.

Key Takeaways Bitcoin treasury companies hold bitcoin as a long-term treasury reserve, often replacing fiat cash or short-term bonds. These companies expand bitcoin’s investable capital base by enabling access through public equity or corporate debt. Public treasury firms may trade at a premium to their bitcoin holdings due to market access, regulatory arbitrage, and capital efficiency. Some companies issue bitcoin-backed financial products such as yield notes or strategic reserves. What is a Treasury Company? A Bitcoin treasury company business model, whereby a business integrates bitcoin into its treasury management framework. This approach prioritizes monetary certainty over fiat liquidity. The company treats bitcoin as a base-layer reserve asset superior to sovereign currency, rather than a hedge or speculative position.

Treasury companies may be public or private. Public companies often use their regulatory status to issue stock or debt, which is then converted into bitcoin. Private firms generally rely on retained earnings. Regardless of structure, the key factor is that bitcoin becomes the foundation of the corporate treasury, not a side asset.

These companies use bitcoin to manage long-term purchasing power, defend against monetary debasement, and unlock investor access in regions or structures where direct exposure is restricted. The treasury strategy shapes their business identity and capital allocation, often attracting shareholders who value monetary independence.

For a deeper look at the three operating models—pure play, hybrid operator, and strategic holder—see this breakdown from Michael Saylor.

What Purpose Does It Serve? Bitcoin treasury companies restructure their balance sheets to reflect a predictable monetary strategy championing absolute scarcity over fiat stability. Holding bitcoin allows them to escape the inflationary decay of sovereign currency while signaling long-term capital discipline.

The strategy serves two core purposes: 

it defends shareholder value by shifting reserves into a scarce, non-counterparty asset. it creates financial access for investors who cannot hold bitcoin directly. Through their equity or debt instruments, treasury companies channel restricted capital into the Bitcoin ecosystem. These firms also develop financial products around their holdings. Bitcoin-backed notes, interest-bearing instruments, and convertible structures create yield opportunities. In these cases, the treasury company acts as a financial services platform as well as a capital allocator.

Expanding Bitcoin’s Capital Base Bitcoin treasury companies serve as access points to the asset for capital that would otherwise remain on the sidelines. As Steven Lubka put it, they are “fundamentally expanding the amount of capital that can flow into bitcoin… They are not competing for the same pool of dollars; they are making the pool larger.”

Most institutional allocators are still trapped inside structures that prohibit direct bitcoin exposure. Their mandates require them to hold equities, bonds, or fund shares—not bearer assets. Treasury companies bypass that restriction. By holding bitcoin and offering tradable equity or fixed income products, they act as financial bridges that translate bitcoin exposure into forms institutions can legally hold.

This approach allows adoption to scale without waiting for regulatory charters or compliance approval. This is infrastructure that routes around the choke points.

Mechanics: How It Works While each company operates within its own legal, regulatory, and financial constraints, most follow a similar operational structure. The details may vary, but the following components form the backbone of how they operate.

Acquisition –  The company acquires bitcoin using excess cash or proceeds from capital raises. This is typically done through over-the-counter (OTC) trading desks or institutional-grade exchanges. Some firms that operate in the mining space may allocate mined bitcoin directly to treasury, removing market exposure altogether. Custody –  Firms must decide between self-custody and third-party custodians. Institutional custodians like Fidelity Digital Assets, Anchorage, or Coinbase Custody offer compliance and insurance options, while self-custody provides sovereignty at the cost of internal security complexity. Custody decisions affect not just risk, but also regulatory posture. Accounting –  Under current US GAAP rules, bitcoin is classified as an intangible asset. Impairments are recognized if market value drops below the acquisition cost, but gains are not recorded unless realized through a sale. This creates an asymmetric treatment that can distort quarterly earnings and force conservative reporting, even if treasury value increases. Reporting –  Public treasury companies are required to disclose bitcoin holdings and changes in treasury structure through filings, earnings reports, and shareholder updates. Some choose to go further, publishing regular updates or dedicating resources to explaining their bitcoin strategy in detail. Security –  Private key management is without question, a critical part of the operation. Companies typically use multisignature wallets, geographic key separation, cold storage, and internal controls to secure holdings. Firms with large positions may employ Shamir’s Secret Sharing or multiple independent signers to ensure redundancy and resilience. Governance –  Policies must define how bitcoin is acquired, secured, and reported. This includes buy thresholds, custody control frameworks, access rights, key management protocols, and recovery plans. Strong governance ensures the strategy survives beyond the initial executive vision and becomes embedded in company operations. Read More: 9 Ways Bitcoin Treasury Companies Can Differentiate in a Crowded Market.
Read More: The Global Bitcoin Treasury Playbook 

How Are They Even Possible? Bitcoin treasury companies operate within a regulatory environment where public firms enjoy broader access to capital markets than individuals or funds. This creates a structural advantage. A public company can issue equity or debt, raise fiat capital efficiently, and convert it to bitcoin. In contrast, many institutional investors face custodial, legal, or charter-based constraints that prevent them from holding bitcoin directly.

This dynamic creates a form of regulatory arbitrage. The company acts as a wrapper for bitcoin exposure, allowing capital to enter the market through familiar financial instruments like stocks and bonds. Investors gain indirect access to bitcoin, often through vehicles they are already authorized to hold.

This mechanism is similar to financial innovations of the past. In the 1980s, Salomon Brothers restructured the bond market by slicing and repackaging fixed-income assets to match investor demand. Other sectors used wrappers to route capital around institutional constraints. Bitcoin treasury companies apply the same principle: they turn capital markets into a funnel and aim it at a harder monetary asset.

Regulatory Arbitrage: Why These Companies Even Exist Bitcoin treasury companies operate in a unique zone of regulatory asymmetry. As Lubka notes on p39, of issue 39 of Bitcoin Magazine, “What bitcoin treasury companies are doing is engaging in regulatory arbitrage.”

Public companies can access large pools of capital through stock and debt issuance. They can then deploy that capital into bitcoin. Retail investors, pension funds, and even many hedge funds cannot hold bitcoin directly—but they can buy shares in public companies.

This is not a technicality. It’s a structural end-run around the gatekeepers of capital. While a retirement fund can’t buy spot bitcoin, it can buy shares in a firm like MicroStrategy. That dynamic turns treasury companies into Trojan horses—pulling bitcoin exposure into portfolios that would otherwise be prohibited from touching it.

Background and Origins The treasury model gained serious traction in August 2020, when MicroStrategy ($MSTR) allocated $250 million of its reserves to bitcoin. CEO Michael Saylor framed the move as a rational response to fiat debasement and falling real yields. The firm continued raising capital through debt and equity issuance to expand its position, ultimately acquiring over 650,000 BTC.

Other public companies followed. Tahini’s began stacking bitcoin a mere days after MicroStrategy. Tesla ($TSLA) added $1.5 billion in bitcoin to its treasury in early 2021. Square ($SQ), now Block, also made an allocation, citing long-term purchasing power as the key motivation. These high-profile moves signaled that bitcoin was gaining legitimacy as a treasury reserve among large-cap firms.

To support institutional adoption, MicroStrategy, in partnership with BTC Inc launched Bitcoin for Corporations, an annual event aimed at guiding CFOs, legal teams, and boards through the process of integrating bitcoin into treasury strategy. The event helped normalize bitcoin discussions inside traditional corporate structures.

A major barrier to adoption—accounting treatment—began to shift in 2023. The FASB approved new rules allowing companies to report bitcoin holdings at fair market value. This replaced the outdated impairment model and removed one of the most cited objections among public company CFOs. The change went into effect in 2025.

Read more: The Origin Story of Bitcoin Treasury Companies

Examples of Bitcoin Treasury Companies MicroStrategy ($MSTR) is the most established treasury company in the market. It has redefined its corporate identity around bitcoin accumulation and capital efficiency. The company has raised billions through convertible notes and direct equity issuance, with proceeds allocated to bitcoin. Shareholders now view the firm as a long-term access vehicle to bitcoin’s monetary appreciation.

MetaPlanet ($3350.T) is a Japanese firm that executes a similar game plan to Strategy. Operating within Japan’s distinct regulatory environment, it adapts the treasury playbook to fit regional constraints. MetaPlanet illustrates how treasury adoption can be localized without losing strategic focus.

Smarter Web Company ($MCP), based in the UAE, blends infrastructure development with bitcoin accumulation. Its jurisdiction allows more flexibility in treasury construction, enabling a hybrid model that integrates operational revenue with bitcoin reserves.

Nakamoto Holdings ($NAKA), a subsidiary of KindlyMD, has built a vertically integrated treasury strategy that includes internal capital management and structured products. The firm was profiled by Steven Lubka as an example of how smaller organizations can implement bitcoin treasury models with institutional rigor.

Evaluating a Treasury Company and Measuring Success The success of a bitcoin treasury company depends on more than just the size of its holdings. Investors should evaluate how efficiently the company acquires bitcoin, whether it increases bitcoin per share over time, and how effectively it monetizes its position.

A key metric is mNAV, or multiple of net asset value. This measures the company’s market capitalization relative to its bitcoin holdings. A high mNAV suggests that the market values not just the bitcoin, but also the company’s capital efficiency, access, and ability to grow its holdings faster than the open market.

Companies that compound bitcoin holdings through accretive financing deserve to trade at a premium. This premium reflects future expectations of value creation. However, poorly managed firms can destroy per-share bitcoin by issuing too much equity or overpaying for marginal gains.

Evaluating treasury companies requires examining their capital structure, acquisition timing, product issuance, and accounting treatment.

More info: How To Measure The Success Of A Bitcoin Treasury Company

Risks and Structural Headwinds Bitcoin treasury companies operate within a set of structural risks that are distinct from simple asset volatility. These risks are operational, regulatory, reputational and political. There’s also a fifth opposing risk, which is the risk of not holding or having exposure to bitcoin at all.

Operational Risk Managing a bitcoin treasury introduces technical and procedural risks. Custody is not a service you can outsource without trust tradeoffs, and self-custody requires enterprise-grade key management practices. Multisignature configurations, geographic key separation, internal access controls, and incident recovery protocols must be implemented with precision. Any compromise in key security, whether from internal error or external attack, can result in unrecoverable losses. For companies holding hundreds of millions or billions in bitcoin, this becomes a single point of existential failure.

Regulatory Risk Bitcoin exists outside the traditional financial system, and many jurisdictions still lack a clear legal framework for its treatment. Treasury companies must navigate unclear tax rules, evolving securities classifications, cross-border restrictions, and ambiguous corporate governance expectations. Regulatory risk is amplified for public companies, which face additional scrutiny from auditors, exchanges, and shareholders. In many regions, bitcoin remains classified as a speculative asset, limiting how it can be reported or deployed within treasury operations.

Reputational Risk Corporate media, ESG pressure groups, and risk-averse investors typically view bitcoin adoption as speculative or irresponsible, especially during periods of price drawdown. Even competent treasury execution can be framed as reckless if narrative conditions turn. Leadership teams must be prepared to defend the strategy publicly and educate stakeholders who may not yet grasp the long-term monetary thesis.

Political Risk One of the most insidious risks facing treasury companies is the growing institutional pushback from legacy finance. In 2025, MSCI, BlackRock, and Goldman Sachs’ Datonomy index excluded MicroStrategy and Coinbase from digital asset classifications, despite bitcoin representing a majority of their balance sheet exposure. 

These companies were strategically removed because their alignment with bitcoin poses a structural threat to the existing banking order. Their inclusion in major indexes would legitimize bitcoin as a competing monetary system and weaken the financial establishment’s control over capital allocation.

This index engineering reduces investor access and protects legacy institutions. It is designed to suppress entities that store capital in an asset that cannot be debased, seized, or rehypothecated.

Monetary Risk of Not Holding Bitcoin A more widespread risk facing corporate treasuries is the cost of continuing to rely on fiat-based strategies. Inflation erodes capital over time by reducing purchasing power. Treasury strategies that depend on short-term government bonds or bank deposits are exposed to monetary policy decisions that guarantee devaluation over time. Choosing to avoid bitcoin leads to long-term capital deterioration and the progressive weakening of the balance sheet. For companies that operate in inflation-prone environments or that sit on large fiat reserves, this becomes structural loss.

Holding cash yields nothing. The U.S. M2 money supply has grown by more than 7 percent annually since 1971, with recent years far exceeding that rate. A company holding idle dollars is losing 7 percent of purchasing power each year.

U.S. Treasuries yield between 1 and 3 percent in most cycles. Compared to 7 percent monetary expansion, this results in a real loss of 4 to 6 percent per year. These figures may widen as governments and central banks continue expanding credit to support growing debt obligations.

Stock buybacks are often framed as shareholder-friendly but rely on equity valuations inflated by the same monetary expansion that devalues cash. Once the capital is spent, it cannot be reallocated or used to defend the balance sheet. Buybacks might boost earnings per share but do nothing to preserve long-term monetary value.

Bitcoin provides a structurally different outcome. It has no issuer, no credit risk, and a fixed supply of 21 million. It is the only asset that has consistently outpaced M2 expansion over time. Michael Saylor projects a 29 percent annual return over the next 20 years. If that projection proves accurate, a modest allocation to a bitcoin treasury could fully offset fiat debasement.

As little as 2 percent in bitcoin may be enough to break even in real terms. With regular rebalancing, an allocation between 5 and 30 percent could preserve or grow purchasing power while still maintaining fiat liquidity. This is a strategic hedge against fiat decay and should be evaluated as a treasury defense mechanism, not a speculative bet.

Read More: How a Bitcoin Treasury Converts Idle Reserves Into Strategic Capital

Related Concepts Bitcoin ETF – A regulated investment product that tracks the price of bitcoin. ETFs offer simplicity but no direct control over bitcoin custody or strategic usage. Bitcoin Strategic Reserve – A deliberate long-term allocation of bitcoin used to defend against fiat dilution and preserve capital over time. Treasury companies typically build this into their core strategy. Further Reading For readers looking to explore this topic in greater depth, two standout resources offer high-signal material:

BitcoinForCorporations.com – A curated collection of articles, videos, and resources tailored for executive teams, CFOs, and corporate strategists evaluating bitcoin treasury models. Bitcoin Magazine Issue 39: The Finance Issue – A print and digital issue dedicated to corporate adoption, bitcoin balance sheet strategies, and treasury engineering at scale. Final Thoughts Bitcoin treasury companies do more than store reserves in a the worlds best money. They restructure balance sheets around monetary certainty, offer regulated access to bitcoin, and create financial instruments anchored to absolute scarcity.

As inflation accelerates and fiat-based finance becomes more unstable, treasury companies may become lifeboats for capital seeking long-term preservation.

The crypto markets opened the day’s trade, maintaining a range-bound consolidation as the Bitcoin price remains stuck below the newly formed resistance at $92,800. Ethereum and XRP have been displaying immense strength for a period, and hence, it is believed the next bullish wave will begin in a short while. XRP price, specifically, stands out among them, holding its recent rebound and preserving a constructive structure even as the broader market momentum cools. 

XRP Maintains a Strong Intraday StructureOver the past 24 hours, the XRP price has formed a clean bullish pattern on the lower timeframes. Buyers pushed the price off weekend lows and have since defended every dip, keeping XRP in a gradually rising structure. Importantly, the market has seen multiple extended Wave 5 pushes on each rally attempt—a sign of continued strength rather than exhaustion.

The $2.02–$2.03 area has repeatedly held as support, creating a clear invalidation level for short-term bulls. As long as XRP trades above it, the momentum bias remains to the upside.

Source: XXRP price is now consolidating directly under $2.04, a level that has rejected several intraday attempts to break higher. Price compression beneath a horizontal resistance often precedes a decisive expansion, and the chart reflects that momentum is slowly building for such a move. A confirmed breakout above $2.04, ideally followed by a retest, could trigger upside continuation.

Short-term upside targets include $2.055, which is the nearest liquidity pocket and $2.07–$2.08, the measured wave extension zone. A stronger impulsive leg could even stretch toward $2.10, depending on market strength. A rejection at this level does not break the bullish narrative unless XRP price loses $2.02. Below that, momentum would shift, opening a move toward $2.00. But for now, buyers are defending the range effectively.

What’s Next for the XRP Price?XRP price continues to trade like a market preparing for a breakout. Higher lows, supportive wave structure, and steady demand all point toward bullish continuation—but the confirmation lies at $2.04. Once the bulls clear this barrier, momentum could accelerate quickly. Until then, XRP remains coiled—with the advantage still on the side of the buyers.

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Oracle lost roughly $80 billion in market value on Dec. 11 when revenue missed expectations, and management hiked AI-related capex from $35 billion to about $50 billion, funded in part with rising debt. The stock dropped up to 16%, dragging Nvidia, AMD, and the broader Nasdaq lower.

The event ended roughly two months ago.

The Core Team behind the popular project hosted its first hackathon event during the Open Network era earlier this year, which concluded in mid-October.

After two months in which they didn’t post any updates on the matter, the team outlined the winners earlier this week and their respective prizes.

Hackathon Winners
CryptoPotato reported in August the details about the event, which started on the 21st of that month. The optional midpoint check-in took place in mid-September, while the entire event was scheduled to conclude on October 15.

Following two months of inactivity on the matter, the Core Team finally announced the winners of the Pi Hackathon 2025 on Thursday:

1st Place: Blind_Lounge, a privacy-first social and dating platform where people connect anonymously and reveal identities only by mutual choice.

2nd Place: Starmax, a loyalty program app that enables Pioneers to spend Pi at participating businesses and earn rewards for their engagement.

3rd Place: RUN FOR PI, a fast-paced runner game that incorporates Pi directly into its in-game economy.

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The hackathon rules stated that the first-positioned Pioneer will receive 75,000 PI tokens, the second will get 45,000, and 15,000 coins will go to the third. The five honorable mentions will receive 5,000 each, which were as follows: Kindrek, Workflet For Pi, PallyPay, SimpleJoy, and Agora Pulse.

Overall, the team said there were more than 215 Mainnet app submissions received from August to October that met the ecosystem requirements. They added that this showcases developers’ “clear motivation to build utility-oriented, production-ready apps on the Pi Mainnet.”

The Fine Print
However, the Core Team also warned that some of the features on these apps could be a work in progress and outlined the possibility of occasional bugs or limitations as they are community-built projects that continue to evolve after the hackathon.

The disclosure also reads that, since they do not officially develop these apps, they do not have any affiliation with Pi Network itself.

“Likewise, all decisions, features, and limitations of these apps are determined solely by their respective app teams. Use of these apps is at your own discretion and risk, and by using such apps you acknowledge and agree that Pi Network is not responsible for any issues you may encounter, including but not limited to, those relating to and arising from transactions, data security, user experience, or access and use.”

The post urged users who encounter any issues with the apps or have suggestions to share them directly through the application’s reporting channels or in the relevant community spaces.

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Mikaia A.

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There are days when fiction seems caught up by reality. A statue of Satoshi Nakamoto, the mythical creator of bitcoin, now stands at Wall Street. Yes, where once the very idea of cryptocurrency scared away the suited and tie-wearers. This gesture, both artistic and symbolic, marks a turning point in the history of finance. And raises this simple question: how far will bitcoin infiltrate the bastions of economic power?

In brief

A statue of Nakamoto was installed at the NYSE by artist Valentina Picozzi.
This gesture symbolizes the opening of financial institutions to the world of bitcoin and cryptocurrencies.
The sixth in a planned series of 21, the statue depicts a meditative hacker in an emblematic posture.

The NYSE Welcomes Nakamoto: A Strong Symbol for the Future of Crypto
For a long time, the New York Stock Exchange was the sanctuary of institutions, not revolutions. Yet it is at the foot of the temple of capitalism that the sixth statue of Satoshi Nakamoto was erected. The work is by Valentina Picozzi. It represents an anonymous hacker, sitting cross-legged, laptop on their knees. A meditative, almost mystical posture. Installed by the company Twenty One Capital, the sculpture embodies a bridge between two worlds: that of emerging systems and that of historic institutions.

In a message posted on X, the NYSE underscores the scope of this initiative by mentioning a common ground between emerging systems and established institutions. The choice of location is no coincidence. It coincides with the anniversary date of the Bitcoin mailing list, launched on December 10, 2008. An acknowledged nod to the project’s origins, as if bitcoin, having been marginal, finally finds its place in the nerve center of global finance.

The reaction of Valentina Picozzi, shared by her @satoshigallery account, speaks volumes about the emotion of the moment: 

This is such an achievement, even in our wildest dream we wouldn’t think about placing the statue of Satoshi Nakamoto in this location! The 6th/21 statues of Satoshi Nakamoto found its home in the NYSE.

21 Statues, a Legend: The Worldwide Tour of the Bitcoin Creator
This installation is just one step in a much larger artistic series. Valentina Picozzi’s goal? To place 21 statues of Nakamoto around the world, as a direct echo of the 21 million bitcoins that will one day be in circulation. Each work thus becomes a symbolic marker, a ghostly presence of Nakamoto on five continents.

Previous statues have been installed in Switzerland, El Salvador, Japan, Vietnam, and Miami. They all share a common message: to remind that Nakamoto is not a name, but an idea. A vision carried by code, decentralization, and a deep desire for transparency. In an interview, the artist explains that the goal is to give the viewer the feeling of disappearance, as if Nakamoto were still living in the lines of code.

The NYSE work has attracted even more attention because it occurs in a context where cryptocurrencies are increasingly establishing themselves in institutional circles. While bitcoin retains a lead in symbolism and capitalization, projects like Ethereum or Solana also draw investors’ attention. But no other crypto yet matches the narrative strength embodied by Nakamoto.

Another tweet from the artist already announced the next step: a new statue soon to be unveiled in a place described as “wild and meaningful”, a way to keep the “guerrilla” spirit of this initiative alive. A discreet but powerful worldwide tour.

Some Key Milestones

The price of bitcoin today hovers around $90,142, a dizzying high;
The first BTC transaction? Two pizzas paid for with 10,000 bitcoins in 2010;
BlackRock, formerly a skeptic, is now among the converts;
More than 3.7 million bitcoins are held by institutions or states (source: Bitbo);
21 statues planned, like the 21 million BTC created in total.

And as if that were not enough, bold projects are now trying to “revive” Satoshi Nakamoto with AI. Yes, you read that right: it is now possible to chat with him thanks to a chatbot trained on his writings. A new way to weave a link between the invisible founder and enthusiasts who still dream of unveiling his mystery.

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Mikaia A.

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.