Tradable, the ParaFi-backed private credit tokenization platform, has begun migrating $1 billion in institutional-grade private credit assets to the @StellarOrg blockchain, shifting its portfolio away from ZKsync. The firm is deploying $XLM to handle the full deal lifecycle, including compliance controls and investor onboarding, for alternative assets that were previously held in opaque, siloed legacy systems.
From ZKsync to StellarTradable has been building its private credit infrastructure on ZKsync, where its on-chain technology allowed institutional asset managers to migrate investment strategies on-chain and access a broader investor base. The pivot to Stellar signals a strategic shift toward a network with deeper institutional roots and a more established compliance architecture. Tradable operates as a private credit tokenization and liquidity platform, providing deal ownership management and access to institutional-grade private credit deals.
The move also reflects Stellar's growing pull in the real-world asset space. In the first half of 2026, Stellar crossed $3 billion in tokenized real-world assets, hitting the $1 billion, $2 billion, and $3 billion marks all within six months. That momentum has attracted a roster of well-known institutional names. A growing number of regulated financial institutions, including Franklin Templeton, PayPal, WisdomTree, and MoneyGram, have chosen the Stellar network for settlement, tokenized assets, and global payments.
Why Stellar for Institutional Private CreditTradable's choice of Stellar is consistent with the network's positioning as a compliance-first blockchain for regulated asset issuance. Franklin Templeton pioneered tokenized treasuries on Stellar, enabling 24/7 trading of U.S. government securities with under 6-second settlements and near-zero transaction costs. WisdomTree, with over $100 billion in AUM, offers 13 digital funds on Stellar through WisdomTree Prime, seamlessly integrating fiat, digital assets, and tokenized investments.
The compliance infrastructure underpinning these deployments is built directly into the protocol. Nearly a decade of work with Securrency, now DTCC Digital Assets, helped embed compliance tools such as clawbacks, transfer restrictions, and identity controls directly into the Stellar network. That foundation has made Stellar the preferred venue for institutions that need more than speed. For regulated firms, moving assets on-chain requires compliance with securities laws, sanctions requirements, and investor protections, creating demand for blockchain infrastructure that can support identity checks, transfer restrictions, and other compliance controls.
Tradable's migration adds further institutional weight to a network that is increasingly becoming the default rail for tokenized private markets. With $1 billion in private credit moving from ZKsync to Stellar, the deployment is one of the larger chain migrations in the private credit tokenization space to date.
Sources
Markets Media: Tradable Tokenizes $1.7bn of Institutional-Grade Private Credit Positions
CoinDesk: How Stellar Became Part of DTCC's Tokenization Push for Wall Street Securities Onchain
Messari: State of Stellar Q1 2026
Key HighlightsStellar emerges as preferred blockchain for institutional asset tokenizationInfrastructure development accelerates for blockchain-enabled private credit Real-world asset platform Tradable commits to tokenizing $1 billion in private credit on Stellar Strategic expansion diversifies Tradable’s blockchain presence beyond existing ZKsync operations Stellar strengthens position in institutional RWA tokenization market Move represents significant growth for blockchain-based private credit infrastructure Partnership adds institutional credibility to Stellar’s financial services ecosystem Real-world asset tokenization platform Tradable has revealed plans to tokenize as much as $1 billion worth of private credit assets on the Stellar blockchain. This strategic expansion represents a significant diversification of the company’s blockchain infrastructure as it bridges institutional credit markets with distributed ledger technology. The initiative leverages Stellar’s capabilities to enhance market access, accelerate settlement times, and streamline asset administration workflows.
As a specialized platform for tokenizing alternative investment vehicles, Tradable brings comprehensive blockchain-based infrastructure and regulatory compliance mechanisms to traditional finance. The company has already successfully tokenized approximately $1.7 billion in institutional private credit assets on the ZKsync platform. This latest announcement signals Tradable’s intention to migrate additional financial instruments to Stellar’s network, furthering the broader adoption of digitized financial markets.
The platform delivers end-to-end solutions encompassing transaction structuring, compliance oversight, investor verification, and continuous asset lifecycle management. Through programmable smart contracts, Tradable automates private credit operations across blockchain ecosystems. This infrastructure development underscores the company’s commitment to establishing robust frameworks for institutional participation in real-world asset tokenization.
Stellar emerges as preferred blockchain for institutional asset tokenization The Stellar network has experienced growing adoption among traditional financial institutions exploring blockchain-enabled solutions for asset digitization. Known for rapid transaction finality and seamless cross-border payment capabilities, Stellar delivers technical specifications aligned with institutional demands for enterprise-grade digital asset platforms.
Tradable’s decision to deploy on Stellar marks a strategic pivot as the platform expands its private credit tokenization capabilities beyond Ethereum Virtual Machine-compatible chains. This partnership bolsters Stellar’s competitive standing in the rapidly expanding real-world asset tokenization sector. The collaboration facilitates the convergence of conventional financial instruments with blockchain-native ownership structures.
Stellar’s blockchain infrastructure has powered numerous high-profile tokenization deployments from established financial services firms. Franklin Templeton pioneered its BENJI tokenized money market fund on Stellar back in 2021. Additionally, prominent financial technology companies such as WisdomTree, Ondo Finance, and Figure have integrated Stellar into their digital asset product offerings.
Infrastructure development accelerates for blockchain-enabled private credit The private credit market encompasses trillions of dollars in assets yet faces persistent challenges related to illiquidity and opacity. Tradable addresses these structural inefficiencies through distributed ledger technology and systematized digital asset frameworks. The platform equips institutional investors with comprehensive toolsets for accessing and managing tokenized credit investment opportunities.
Tradable’s strategic deployment on Stellar reflects mounting institutional appetite for blockchain-powered financial infrastructure. The platform enables asset management firms to explore innovative methodologies for originating and administering private credit investment vehicles. Development efforts continue focusing on scalable solutions tailored for institutional digital finance requirements.
Stellar maintains momentum in attracting both stablecoin initiatives and real-world asset tokenization projects through its purpose-built financial network architecture. Tradable’s projected $1 billion asset migration represents another milestone achievement for the blockchain protocol. This collaboration reinforces the deepening integration between legacy financial systems and decentralized technological infrastructure.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Tradable, a platform specializing in real-world asset tokenization, has announced plans to tokenize up to $1 billion in private credit assets on the Stellar blockchain. The move marks a significant expansion for Tradable, which aims to bridge institutional credit markets with distributed ledger technology.
Tradable expands presence beyond ZKsyncTradable has built its reputation by providing blockchain-based infrastructure that supports the tokenization of alternative investment vehicles, particularly for institutional investors. The company already has experience in the space, having tokenized approximately $1.7 billion in private credit assets on ZKsync, a layer-2 scaling solution for Ethereum that supports high-throughput and low-cost transactions.
Mini dictionary: ZKsync, an Ethereum layer-2 protocol, uses zero-knowledge rollups to boost transaction speed and lower costs while maintaining security from Ethereum’s mainnet.
The upcoming initiative involves migrating a substantial portion of Tradable’s private credit assets onto the Stellar network. The company plans to leverage Stellar’s architecture to enhance asset administration, accelerate settlement processes, and widen access for institutions seeking alternative credit opportunities.
Stellar strengthens position in real-world asset tokenizationStellar has garnered interest from financial institutions pursuing blockchain solutions for asset digitization. The network is distinguished by its rapid transaction finality and robust cross-border payment capabilities, meeting key institutional requirements for enterprise-grade digital asset management.
Tradable’s transition to Stellar marks a strategic shift as the platform moves beyond Ethereum-compatible blockchains. This collaboration is expected to reinforce Stellar’s growing influence within the real-world asset tokenization sector and facilitate the convergence of traditional financial instruments with blockchain-based ownership models.
Stellar’s infrastructure has already supported notable tokenization efforts from major finance industry players. Franklin Templeton, for example, launched its tokenized BENJI money market fund on Stellar in 2021, while other financial technology firms like WisdomTree, Ondo Finance, and Figure have also integrated Stellar into their offerings.
PlatformTotal Tokenized CreditMain AdvantageZKsync$1.7 billionHigh throughput, low cost (layer-2 Ethereum)Stellar$1 billion (targeted)Fast settlements, cross-border paymentsGrowth for blockchain-based private credit infrastructureThe global private credit market, estimated in the trillions, is often criticized for its limited liquidity and lack of transparency. Tradable aims to address these persistent challenges using distributed ledger technology to offer standardized, compliant frameworks for digital asset management. Its platform delivers a suite of tools for transaction structuring, compliance checks, investor verification, and ongoing asset management.
Tradable automates private credit processes through programmable smart contracts, aiming to reduce operational friction and enable more efficient investment flows between institutional participants.
By expanding onto Stellar, Tradable is opening the door for asset managers to explore innovative strategies for creating and handling private credit investments. This aligns with a broader industry trend where financial services firms are increasingly seeking scalable and secure digital finance infrastructure built on blockchain networks.
Stellar continues to attract stablecoin projects and real-world asset tokenization initiatives through its finance-oriented network architecture. Tradable’s projected $1 billion migration stands as a milestone for Stellar’s protocol and represents further integration of conventional finance with decentralized systems.
This partnership adds to Stellar’s institutional credibility as the network evolves into a cornerstone for tokenized financial instruments and services.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Shares of Circle Internet Group and Coinbase Global moved higher on Wednesday after William Blair said many of the key risks facing both companies are already reflected in investor expectations.
The firm also highlighted their potential to benefit from any recovery in Bitcoin prices.
Circle CRCL shares gained more than 3% in midday trading, while Coinbase stock rose nearly 2%.
Bitcoin was trading around $64,900, up about 0.5% over the previous 24 hours after reaching an intraday high of $65,500.
The cryptocurrency continued to struggle to hold above the $65,000 level.
William Blair cuts estimates but remains optimisticWilliam Blair said investors should continue to stay invested in Coinbase as spot trading volumes potentially bottom out, despite lowering its financial estimates for the crypto exchange.
The firm said both Coinbase and Circle offer "outsized leverage to a bitcoin recovery."
William Blair also warned that consensus estimates across the sector are likely to continue falling and revised its own forecasts lower.
The brokerage reduced its 2026 revenue estimate for Coinbase by 12% and its 2027 forecast by 13%. It also lowered EBITDA estimates by 34% for both years.
Despite those reductions, the firm expects profitability to recover after this year, stating that EBITDA "seems set to trough" in the second half of 2026 before rebounding in 2027.
Separately, Piper Sandler lowered its price target on Coinbase to $155 from $170 while maintaining a Neutral rating.
Analyst Patrick Moley said subdued cryptocurrency trading has contrasted with record options activity and the strongest quarter on record for US cash equities trading volumes.
He added that prediction markets and perpetual futures "were the story" of the second quarter, with the FIFA World Cup driving what he described as "massive" growth across the prediction markets industry.
Looking ahead, Moley said investors are paying close attention to "significant investor attention on the perpetual future threat," highlighting increasing competition as more trading activity shifts toward newer products such as perpetual futures.
While analysts updated their outlooks, Cathie Wood's ARK Invest continued to increase its exposure to Circle despite the stock's recent weakness.
ARK purchased another 220,000 Circle shares across three actively managed exchange-traded funds on Tuesday.
Based on Circle's Tuesday closing price of $63.22, the acquisition was valued at approximately $13.9 million.
The latest purchase brings ARK's disclosed Circle purchases during July to 725,517 shares.
The investment firm had previously acquired 287,609 shares on July 1 and 217,896 shares on July 9.
Circle has become a significant holding across ARK's innovation-focused portfolios.
As of Wednesday, the company represented 4.37% of the ARK Fintech Innovation ETF, making it the fund's seventh-largest position with a value of roughly $33 million.
Circle also accounted for 3.35% of the flagship ARK Innovation ETF, ranking as its ninth-largest holding and carrying a value of approximately $218 million.
Despite Wednesday's gains, both stocks remain under pressure this year. Coinbase shares have fallen nearly 30% in 2026, while Circle stock is down almost 20%.
July 28 at 4:30 p.m. EDT July 15, 2026 16:01 ET | Source: Skyworks Solutions, Inc.
IRVINE, Calif., July 15, 2026 (GLOBE NEWSWIRE) -- Skyworks Solutions, Inc. (Nasdaq: SWKS), an innovator of high-performance analog and mixed-signal semiconductors connecting people, places and things, will host a conference call with analysts to discuss its third quarter fiscal 2026 results and business outlook on July 28, 2026, at 4:30 p.m. EDT.
After the close of the market on July 28, and prior to the conference call, Skyworks will issue a copy of the earnings press release via GlobeNewswire. The press release may also be viewed on Skyworks’ website at www.skyworksinc.com/investors.
To listen to the conference call, please visit the investor relations section of Skyworks’ website at https://investors.skyworksinc.com/events-presentations. Playback of the conference call will be available on Skyworks’ website at www.skyworksinc.com/investors beginning at 9 p.m. EDT on July 28. Additionally, a transcript of the company’s prepared remarks will be made available on our website promptly after their conclusion during the call.
About Skyworks
Skyworks Solutions, Inc. is empowering the wireless networking revolution. Our highly innovative analog and mixed-signal semiconductors are connecting people, places and things spanning a number of new and previously unimagined applications, including aerospace, automotive, broadband, cellular infrastructure, connected home, defense, entertainment and gaming, industrial, medical, smartphone, tablet and wearables.
Skyworks is a global company with engineering, marketing, operations, sales and support facilities located throughout Asia, Europe and North America and is a member of the S&P 500® market index (Nasdaq: SWKS). For more information, please visit Skyworks’ website at: www.skyworksinc.com.
Safe Harbor Statement
Any forward-looking statements contained in this press release are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include without limitation information relating to future events, results and expectations of Skyworks. Forward-looking statements can often be identified by words such as “anticipates,” “expects,” “forecasts,” “intends,” “believes,” “plans,” “may,” “will” or “continue,” and similar expressions and variations or negatives of these words. Actual events and/or results may differ materially and adversely from such forward-looking statements as a result of certain risks and uncertainties, including those identified in the “Risk Factors” section of Skyworks' most recent Annual Report on Form 10-K (and/or Quarterly Report on Form 10-Q) as filed with the Securities and Exchange Commission (“SEC”). Copies of Skyworks' SEC filings can be obtained, free of charge, on Skyworks' website (www.skyworksinc.com) or at the SEC's website (www.sec.gov). Any forward-looking statements contained in this press release are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Note to Editors: Skyworks and the Skyworks symbol are trademarks or registered trademarks of Skyworks Solutions, Inc., or its subsidiaries in the United States and other countries. Third-party brands and names are for identification purposes only and are the property of their respective owners.
An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7388e035-bad7-4503-9a05-e66a6aa9589b
Contact Data Media Relations: Constance Griffiths (949) 230-4867 Investor Relations: Raji Gill (949) 508-0973
New York, New York--(Newsfile Corp. - July 15, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Roblox Corporation (NYSE: RBLX) between October 30, 2025 and April 30, 2026, inclusive (the "Class Period"), of the important August 7, 2026 lead plaintiff deadline.
SO WHAT: If you purchased Roblox common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Roblox class action, go to https://rosenlegal.com/cases/roblox-corporation-2026/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 7, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Roblox's organic growth potential; notably, that Roblox would see a significant slowdown in its growth rates as enrollment in the age verification rollout would quickly taper, compounding the resulting slowdown in on-platform communication, resulting in app store rating reductions and a swift reduction in organic growth. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Roblox class action, go to https://rosenlegal.com/cases/roblox-corporation-2026/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
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Source: The Rosen Law Firm PA
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AUSTIN, Texas--(BUSINESS WIRE)--Bumble Inc. (NASDAQ: BMBL) today announced that it will report financial results for the second quarter ending June 30, 2026, following the close of market on Wednesday, August 5, 2026. The Company will host a live webcast of its conference call to discuss the results at 4:30 p.m. Eastern Time on that day.
The webcast of the call, the earnings release, and any related materials will be accessible on the Investors section of the Company’s website at https://ir.bumble.com. A webcast replay will be available approximately two hours after the conclusion of the live event.
About Bumble Inc.
Bumble Inc. is the parent company of Bumble, Badoo, and BFF. The Bumble platform brings people closer to love by enabling them to build healthy relationships. Founded in 2014 by Whitney Wolfe Herd, who serves as CEO, Bumble was one of the first dating apps built with women at the center and connects people across dating (Bumble Date) and friendship (BFF). Badoo, founded in 2006, was one of the pioneers of web and mobile dating products. BFF is a friendship app made to help you find your people.
For more information about Bumble, please visit www.bumble.com and follow @Bumble on social platforms.
Spotify Technology SA (NYSE:SPOT) is expected to report a steady second-quarter performance, with Jefferies maintaining a positive long-term view despite not anticipating a "narrative changing" earnings release.
The investment bank reiterated its ‘Bu’y rating and $600 price target, implying upside from current levels of $485, ahead of the company's results, writing that it prefers to remain positioned for potential catalysts including a Warner Music Group remixing agreement and the launch of AI-powered remixing features.
For the second quarter, Jefferies forecasts gross margin of 33.1%, in line with Spotify's guidance, while noting that a typical beat of more than 20 basis points to around 33.3% represents a reasonable upside scenario.
The analysts also view the current third-quarter Wall Street gross margin estimate of 33% as achievable, despite expected regulatory charges.
Jefferies expects constant-currency revenue growth of 15% year over year in both the second and third quarters, in line with consensus estimates.
It also forecasts second-quarter net additions of 6 million premium subscribers and 17 million monthly active users, with potential upside to MAUs from Spotify's Wrapped 20th anniversary campaign.
The analysts expect investor attention to center on management's comments about new products, particularly the timeline and adoption of an AI remixing offering.
"We'll be listening for commentary on AI remixing adoption/timeline, but given investor skepticism on uptake, remixing is ultimately a 'show-me' that we think plays out positively in the coming months," Jefferies wrote.
While the bank sees the potential for lower operating expenses, it wrote that cost reductions alone are unlikely to drive a sustained re-rating without additional revenue from new products.
Looking further ahead, Jefferies expects 2027 to benefit from new product opportunities, additional pricing initiatives and more normalized cost growth, while reiterating that evidence of incremental revenue from AI remixing could renew investor interest in the stock.
Annaly Capital (NLY +0.63%) is a mortgage real estate investment trust (REIT). This is a unique niche of the broader REIT sector that is a bit more complex to understand. That said, mREITs often have very large yields, luring in dividend investors that may not understand the risks they are taking on. Annaly Capital's 13% yield has a very real near-term headwind. Here's what you need to know.
How does Annaly Capital make money? A property owning REIT buys a building and leases it to tenants, generating rental income. Mortgage REITs like Annaly Capital buy mortgages that have been pooled into bond-like securities, generating interest income. In both cases, leverage is employed to enhance returns, with profits driven by the difference between operating costs (including interest expenses) and income. However, property REITs generally finance their operations with mortgages or bond issuance. Both generally have rates that don't change with interest rates. Mortgage REITs, on the other hand, tend to make use of short-term loans with rates that adjust quickly.
Image source: Getty Images.
The problem is in the timing. If rates rise, mREITs quickly face higher interest costs. But the securities they own have long maturities and don't produce more income, so profits come under pressure. Worse, the securities mREITs own will likely also fall in value, so the yield they offer to a new buyer would be equivalent to the prevailing market yield. That's a double hit for an mREIT: lower earnings and a drop in its net book value per share.
Annaly needs rates to hold steady In the first quarter of 2026, Annaly generated $0.76 per share in earnings available for distribution. It paid out $0.70 per share in dividends during the quarter. That's a 92% payout ratio, which is high but not unusual in the mREIT sector. But if rates rise, Annaly's ability to pay its dividend could come under pressure quickly.
Today's Change
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0.15
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The problem is that oil prices are rising again as the conflict in the Middle East flares up. High oil prices have been stoking inflation, which is running hotter than the Federal Reserve would like. And that could force the Federal Reserve to increase interest rates, perhaps even at its next meeting.
The history is clear, Annaly's dividend is highly variable If you examine Annaly's longer-term dividend history, you'll find it is marked by volatility. You simply can't buy this stock expecting the dividend to remain stable, which makes it a hard sell for investors trying to live off their dividends. And the company just increased its quarterly dividend to $0.75 per share, which could make dividend coverage even tighter based on the first quarter's distributable earnings results. Dividend investors should tread with extreme caution here.
SAN JOSE, Calif.--(BUSINESS WIRE)--Xperi Inc. (NYSE: XPER) (the “Company” or “Xperi”), an entertainment technology company that invents, develops, and delivers technologies that enable extraordinary experiences, will announce its second quarter 2026 financial results on Wednesday, August 5, 2026, following the close of the market.
The Company will host an earnings conference call at 2 p.m. PDT (5 p.m. EDT) that same day. To access the Company’s earnings conference call:
Participant dial-in details:
U.S. callers, toll-free:
+1 888.596.4144
International callers:
+1 646.968.2525
Canada – Toronto:
+1.647.495.7514
Conference ID:
5483252
All participants should dial in 15 minutes prior to the start of the call using the conference ID listed above. Alternatively, the call can be accessed via the following link: Q2 2026 Earnings Call Webcast.
About Xperi Inc.
Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS®, HD Radio™, TiVo®), are integrated into consumer devices and media platforms worldwide, powering smart devices, connected cars and entertainment experiences, including IMAX® Enhanced, a certification and licensing program operated by IMAX Corporation and DTS, Inc. Xperi has created a unified ecosystem that reaches highly engaged consumers, driving increased value for partners, customers and consumers.
NO-HEADQUARTERS/REDWOOD CITY, Calif.--(BUSINESS WIRE)--PubMatic, Inc. (Nasdaq: PUBM), the leading AI-powered ad tech company delivering digital advertising performance, today announced that it will release its financial results for the quarter ended June 30, 2026 after market close on Thursday, August 6, 2026. On that day, PubMatic will host a webcast at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss the company’s financial results.
Webcast Details
What: PubMatic’s Second Quarter 2026 Earnings WebcastWhen: Thursday, August 6, 2026, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time)Webcast: A live and archived webcast can be accessed from the News & Events section of PubMatic’s Investor Relations website: https://investors.pubmatic.comAbout PubMatic
PubMatic is the leading AI-powered ad tech company delivering digital advertising performance. Through an intelligent, unified platform that connects buyers, publishers, data partners, and commerce media networks, PubMatic delivers superior performance with greater transparency, control, and efficiency. Since 2006, PubMatic has pioneered major advances in programmatic advertising, from enabling the first OpenRTB transactions to embedding AI-driven optimization and privacy-focused innovation across its platform. With omnichannel scale, proven reliability, and a track record of continuous innovation, PubMatic is building a more intelligent, profitable, and sustainable open internet. Built to Connect. Powered to Perform.
Chainlink Integrates U.S. Department of Commerce Data For Macro Oracle Feeds is the kind of story that can look simple at first glance, but it carries more weight once you place it inside the week’s broader crypto backdrop. The point is not to dress the headline up into something bigger than it is. The point is to understand why it is being watched now.
For more details, visit the official Chainlink platform.
TL;DR Chainlink Integrates U.S. Department of Commerce Data For Macro Oracle Feeds is the main story for Chainlink today.Chainlink feeding verified U.S. macroeconomic data on-chain assists structured financial contract settlement.The cleaner read is to focus on what Chainlink actually shows, not to overstate what the update proves. What Changed This Week Oracle and interoperability integrations matter because they are the connective tissue behind tokenized assets, cross-chain applications, and institutional settlement. That is the lens I would use here. The update is not valuable because it gives traders a magic answer. It is valuable because it adds another reliable data point to a market that has been moving quickly and, at times, messily.
Explain that this feed supports inflation-linked bonds validation on Arbitrum and Polygon. That detail is important because it gives the story a specific centre of gravity. Without that, it would be too easy to turn this into a generic market move or a recycled headline.
For readers, the useful question is not simply whether Chainlink is getting attention. It is whether the underlying development changes access, liquidity, regulatory clarity, infrastructure reliability, or trader positioning. In this case, the answer is that it does give the market something concrete to evaluate.
The source trail matters here. The article is based on Chainlink, which is a cleaner starting point than relying on second-hand summaries or social chatter.
Where The Story Goes Next The immediate read is also different depending on who is watching. Traders may focus on price and liquidity, while builders or compliance teams may care more about the rule, integration, product, or infrastructure detail. That split is exactly why the story is worth handling as a standalone article rather than burying it in a broader recap.
There is also a timing element. The July 15 update arrives after several sessions where crypto markets have been sensitive to macro headlines, ETF flows, regulatory signals, and exchange-level product changes. Any credible update that touches one of those channels is going to attract attention.
What should be avoided is the temptation to turn one development into a sweeping conclusion. A listing is not the same thing as adoption. A price rebound is not the same thing as a confirmed trend reversal. A new rulemaking step is not the same thing as final legal certainty. The value is in the narrower, more accurate read.
Chainlink-related integrations often matter because they sit beneath the user-facing product. Traders may focus on LINK, but builders care about secure messaging, data feeds, and whether institutions trust the infrastructure enough to use it.
The Bottom Line For now, the story gives the market one more piece of evidence about where Chainlink sits in the current cycle. It may be about regulatory clarity, a product rollout, a price level, or a piece of infrastructure, but the same rule applies: the strongest conclusion is the one that stays closest to the source.
If follow-up data confirms the direction of travel, this could become part of a larger narrative. If not, it still gives readers a useful snapshot of how quickly crypto’s active themes are rotating across policy, infrastructure, payments, exchanges, and market structure.
That is why this deserves coverage now. It is not about forcing a dramatic market call. It is about giving readers a clear, grounded explanation of what happened, why it matters, and what still needs to be watched.
This report is based on information from Chainlink.
This article was written by the News Desk and edited by Samuel Rae.
Open USD poses biggest threat yet to Circle's USDC, CoinShares says. (Circle)Summary
CoinShares said Open USD directly challenges Circle by giving partners income generated by reserves backing the stablecoin, undermining USDC's distribution economics.Open USD comprises more than 140 companies, including BlackRock, Coinbase, Mastercard, Stripe and Visa. The stablecoin is expected to debut in the second half of 2026.Despite the threat, CoinShares said USDC’s established liquidity and integrations could prove difficult for any newcomer to replicate.Open USD, a bank-backed group developing a dollar-pegged stablecoin, is the most credible threat yet to Circle Internet's (CRCL) USDC because it targets the economics at the heart of the company’s business, crypto asset manager CoinShares said in a Monday report.
Unlike traditional stablecoin issuers, who keep the income generated by their reserves, Open USD plans to distribute the yield to participating businesses, retaining only a management fee. CoinShares said the model could squeeze Circle's margins while raising the cost of maintaining USDC distribution.
“If successful, Open USD could push stablecoins further into mainstream payments by making the economics and governance more attractive for the businesses actually using them,” wrote analyst Luke Nolan.
Developed by Open Standard, the institutional-focused stablecoin is backed by a consortium of more than 140 companies, including BlackRock (BLK), Coinbase (COIN), Mastercard (MA), Stripe and Visa (V), and is targeting a second-half 2026 launch. Key details, including its reserve structure and fee model, remain undisclosed.
The model also strengthens Coinbase's hand ahead of the Aug. 18 renewal of its revenue-sharing agreement with Circle, under which the exchange receives roughly half of USDC's reserve income, the report said.
USDC's circulating supply has fallen to about $73 billion from nearly $80 billion in March, trimming its share of the roughly $312 billion stablecoin market as competition from newly regulated issuers intensifies.
Circle shares fell more than 17% on the day Open USD was announced, though CoinShares said the decline was likely amplified by technical selling linked to the Russell index reconstitution.
Still, the report argued the market may be overreacting. Open USD has yet to launch, important details remain unresolved and Circle retains a significant advantage through USDC's deep liquidity and years of integrations across exchanges, DeFi and payments.
Open USD is unlikely to pose a major threat to Tether, whose dominance in emerging markets and offshore dollar liquidity gives USDT, the largest stablecoin by far, a different competitive moat, the report added.
For now, investors should watch whether Circle changes its distribution strategy and whether Open USD can convert its high-profile backing into adoption, CoinShares said. Until then, the project remains a credible, but unproven, challenge to USDC.
CoinShares is not alone in noting the challenge posed by Open USD. Japanese investment bank Mizuho downgraded Circle to underperform from neutral and slashed its price target to $50 from $85 in a note to clients on Tuesday, arguing that the new rival’s business model threatens the stablecoin issuer's long-term economics.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Crypto clearing startup Glacis Labs has closed a $6.8 million seed round. The round was led by Lightspeed Faction, with participation from Franklin Templeton, Coinbase Ventures, A.GAIN (formerly IDC Ventures), Protein Capital, and Techni Ventures, structured as an equity-plus-token warrant deal. The funding will primarily be used to expand its core product, the ZeroDelta platform, and support the growth of its engineering, compliance, and marketing teams. ZeroDelta is a multi-chain clearing platform that facilitates matching, netting, and final settlement of cross-chain digital assets. It currently focuses on serving stablecoins and has processed over $1 billion in cumulative trading volume to date.
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Circle has secured a court-backed arbitration win after records made public in a Boston federal court detailed why the stablecoin issuer suspended Heka Funds’ USDC minting and redemption services over suspected market manipulation involving Tether.
Summary
Circle has won an arbitration case after an arbitrator ruled it lawfully suspended Heka Funds’ USDC minting and redemption services. Court records said Heka did not disclose Tether’s role as the fund’s main investor and Circle reasonably suspected possible market manipulation. The ruling comes as Circle continues expanding its institutional business with new banking initiatives and partnerships in the United States and South Korea. Court filings submitted by Circle on Tuesday as part of its petition to confirm a February arbitration award said the company concluded the Malta-based arbitrage fund had failed to disclose Tether’s role as its principal investor and reasonably suspected trading activity that could have manipulated the USDC market.
Retired judge Robert L. Dondero, who served as arbitrator, ruled in Circle’s favor on the remaining contract claims, finding the company acted within the rights granted under its agreements with Heka.
Hidden Tether ties became central to the dispute At the center of the case was Heka Funds, managed by London-based Abraxas Capital Management, which opened a Circle account in January 2022 for its Elysium Global Arbitrage Fund.
According to the arbitration record, Heka disclosed only investor Simon Grima during onboarding, while Tether had become the fund’s dominant capital provider. Testimony from Heka founder Fabio Frontini showed Tether’s investment reached about $800 million by the time of arbitration, accounting for roughly 75% of Elysium’s assets.
Dondero concluded the omission was intentional and wrote that the missing disclosure appeared designed to avoid revealing Tether’s involvement in the fund. Circle Chief Business Officer Kash Razzaghi testified that the company would not have approved the account had it known of Tether’s role when the relationship began.
The trading dispute emerged after Silicon Valley Bank’s collapse in March 2023 temporarily pushed USDC below its dollar peg. According to the filings, Heka bought discounted USDC in secondary markets and redeemed the tokens with Circle at face value after many other arbitrage firms had stopped once the spread narrowed.
Internal Circle communications presented during arbitration showed executives disagreed over whether the trades represented legitimate arbitrage. Razzaghi described the activity as “a manufactured arb not a market-driven one,” attributing it to Tether waiving its normal fees, while Circle employee David Norton initially argued the trades appeared commercially rational.
Circle allowed Heka to redeem more than $587 million in USDC over a two-week period while testing whether the trading opportunity depended on Heka’s activity. Court records said Norton later changed his position after asking Heka to pause its trades and observing that the market spread tightened instead of widening. Coinbase also informed Circle it was uncomfortable working with Heka because of the fund’s Tether relationship and fee structure, leading the exchange to place restrictions on the account, according to the filings.
Arbitrator upholds Circle’s contractual rights Court documents showed Circle reduced Heka’s minting and redemption limits to zero in November 2023 before suspending the account on Dec. 1 under Section 9(c) of the parties’ master services agreement after Frontini threatened legal and regulatory action.
Heka’s request to redeem $100 million in February 2024 was rejected, and the master services agreement expired the following month. Testimony presented during arbitration said Tether invested another $500 million in Elysium during the same month before Heka filed its arbitration claim.
Another issue raised during the proceedings involved Frontini’s application for an account with Circle France shortly before the hearing. According to the arbitration award, he did not disclose the ongoing dispute and submitted a board resolution stating Heka maintained an active Circle relationship, later testifying he expected his U.S. application to fail.
Applying Delaware law, Dondero found Circle did not breach either agreement because the user terms allowed the company to adjust transaction limits and suspend services at its discretion. The arbitrator also ruled Circle was not required to prove market manipulation had occurred, only that it had reached a reasonable conclusion that such activity might be taking place.
Although Circle requested about $5.15 million in legal fees and costs, Dondero awarded only $166,643.25 related to expert work after finding Heka continued pursuing a $49 million lost-profits claim that had already been excluded from the case.
A Heka spokesperson told the Financial Times the fund had never engaged in market manipulation and had never been the subject of a regulatory investigation involving such conduct. The spokesperson also said Circle sought to make the arbitration record public to divert attention from its refusal to process USDC redemptions.
The disclosure comes as Circle continues expanding its institutional business globally. The company recently received final approval from the U.S. Office of the Comptroller of the Currency to establish Circle National Trust and is preparing to host its invitation-only Current Seoul event on July 23, where executives from banks, crypto exchanges, and payments companies are expected to discuss future partnerships as Circle pursues wider USDC adoption in South Korea.
Kripto para piyasasının büyümesiyle birlikte stablecoin’ler, dijital finansın en önemli yapı taşlarından biri haline geldi. Bu dönüşümün merkezinde ise dünyanın en büyük ikinci stablecoin’i olan USD Coin (USDC) ve onun arkasındaki şirket Circle yer alıyor. Haziran 2025’te New York Borsası’nda (NYSE) CRCL koduyla halka açılan Circle, artık yalnızca kripto yatırımcılarının değil, geleneksel finans dünyasının da yakından takip ettiği şirketlerden biri konumunda. Peki Circle tam olarak ne yapıyor? USDC nasıl çalışıyor? Circle nasıl gelir elde ediyor? CRCL hissesi neden bu kadar konuşuluyor? İşte Circle hakkında bilmeniz gereken tüm önemli detaylar.
Circle Internet Financial, 2013 yılında Jeremy Allaire ve Sean Neville tarafından Boston’da kurulan bir finansal teknoloji şirketidir. Şirketin temel amacı, blokzincir teknolojisini kullanarak küresel para transferlerini daha hızlı, daha güvenli ve daha düşük maliyetli hale getirmektir. Circle, geleneksel anlamda bir kripto para borsası değildir. Aynı zamanda Bitcoin veya Ethereum gibi kripto paralar üretmez. Şirketin asıl faaliyet alanı, ABD dolarına bire bir sabitlenmiş stablecoin olan USD Coin’i (USDC) ihraç etmek ve bu dijital doların altyapısını yönetmektir. Bugün Circle; ödeme sistemleri, kurumsal blokzincir çözümleri, dijital cüzdan altyapıları ve uluslararası para transferleri gibi birçok alanda faaliyet göstererek dijital finans ekosisteminin en önemli oyuncularından biri haline gelmiştir.
USDC Nedir? USD Coin (USDC), değeri her zaman 1 ABD dolarına eşit olacak şekilde tasarlanmış bir stablecoin’dir. Her dolaşımdaki 1 USDC’nin karşılığında Circle rezervlerinde 1 ABD doları veya yüksek likiditeye sahip kısa vadeli devlet tahvilleri bulunur. Bu sayede USDC, Bitcoin ve Ethereum gibi yüksek volatiliteye sahip kripto paralara kıyasla daha istikrarlı bir değer sunar. Bu yapı sayesinde kullanıcılar;
Kripto piyasasındaki sert fiyat hareketlerinden korunabilir. Uluslararası para transferlerini hızlı ve düşük maliyetle gerçekleştirebilir. Merkeziyetsiz finans (DeFi) uygulamalarında güvenli işlem yapabilir. Dijital ödemelerde dolar kullanmanın avantajlarından yararlanabilir. Kripto borsalarında güvenli bir işlem ve saklama aracı olarak USDC’yi tercih edebilir. Bugün USDC, Ethereum, Solana, Avalanche, Base, Arbitrum, Polygon ve birçok farklı blokzincir ağı üzerinde desteklenmektedir. Çok zincirli yapısı sayesinde kullanıcılar farklı ağlar arasında kolayca işlem gerçekleştirebilirken, geliştiriciler de USDC’yi ödeme sistemleri, merkeziyetsiz uygulamalar (dApp), Web3 projeleri ve kurumsal finans çözümlerine kolaylıkla entegre edebilmektedir. Bu geniş kullanım alanı, USDC’nin küresel dijital ödeme ekosisteminde en yaygın kullanılan stablecoin’lerden biri olmasını sağlamaktadır.
Circle Nasıl Çalışıyor? Circle’ın çalışma modeli, her dolaşımdaki USDC’nin gerçek rezervlerle desteklenmesi prensibine dayanır. Kurumsal bir müşteri veya yetkili kullanıcı Circle üzerinden ABD doları yatırdığında, aynı değerde USDC üretilerek kullanıcının hesabına aktarılır. Kullanıcı USDC’lerini yeniden ABD dolarına çevirmek istediğinde ise ilgili tokenlar dolaşımdan çıkarılır (yakılır) ve karşılığındaki dolar rezervlerden ödenir. Bu mekanizma sayesinde dolaşımdaki USDC miktarı ile rezervlerde tutulan varlıklar her zaman dengede kalır.
Circle’ın çalışma sistemi şu şekilde işler:
Kullanıcı Circle’a ABD doları yatırır. Yatırılan tutar kadar yeni USDC oluşturulur. Oluşturulan USDC kullanıcıya gönderilir. USDC dolara çevrilmek istendiğinde tokenlar yakılır. Karşılığındaki ABD doları rezervlerden kullanıcıya ödenir. Circle, rezervlerini bağımsız denetim kuruluşları tarafından hazırlanan aylık raporlarla doğrulayarak şeffaflığı korur.
Circle Nasıl Para Kazanıyor? Birçok yatırımcı Circle’ın USDC basarak gelir elde ettiğini düşünse de şirketin gelir modeli oldukça farklıdır. Circle’ın gelirlerinin yaklaşık yüzde 98’i rezerv gelirlerinden oluşmaktadır.
USDC karşılığında kasasında tuttuğu milyarlarca dolarlık rezerv;
ABD Hazine tahvilleri Para piyasası fonları Ters repo anlaşmaları Nakit varlıklar gibi düşük riskli yatırım araçlarında değerlendirilmektedir.
ABD faizlerinin yüksek olduğu dönemlerde Circle’ın elde ettiği faiz gelirleri de önemli ölçüde artmaktadır.
Şirket ayrıca;
Kurumsal ödeme çözümleri API hizmetleri Stablecoin altyapıları Dijital ödeme sistemleri gibi ürünlerden de ek gelir sağlamaktadır.
Circle’ın En Büyük Gücü Güven ve Şeffaflık Kripto para sektöründe güven ve şeffaflık, kullanıcıların en fazla önem verdiği konular arasında yer alıyor. Özellikle 2022 yılında Terra Luna ekosisteminin çökmesi ve algoritmik stablecoin’lerin yaşadığı kriz, rezerv destekli stablecoin’lere olan ilgiyi artırdı. Circle ise tam rezerv modeli ve düzenleyici uyumluluğa verdiği önem sayesinde sektörde güvenilirliğini koruyan şirketlerden biri olarak öne çıkıyor.
Circle’ın güven odaklı yaklaşımı şu temel unsurlara dayanıyor:
Her USDC’nin bire bir rezervle desteklendiğini taahhüt ediyor. Rezervlerini bağımsız denetim kuruluşlarının hazırladığı aylık raporlarla doğruluyor. Faaliyet gösterdiği ülkelerde düzenleyici kurumlarla uyum içinde çalışıyor. Rezerv varlıklarını dünyanın önde gelen finans kuruluşlarında muhafaza ediyor. Bu şeffaflık politikası sayesinde USDC, hem bireysel hem de kurumsal yatırımcılar tarafından kripto para piyasasının en güvenilir stablecoin’lerinden biri olarak kabul ediliyor.
Circle’ın Düzenleyici Avantajı Circle’ın en dikkat çeken özelliklerinden biri regülasyonlara verdiği önemdir. Şirket faaliyet gösterdiği birçok bölgede resmi lisanslara sahiptir.
Bunlar arasında;
ABD Avrupa Birliği Birleşik Krallık Singapur Kanada Japonya Birleşik Arap Emirlikleri Bermuda yer almaktadır. Özellikle Dubai Finansal Hizmetler Otoritesi (DFSA) ve Abu Dhabi Global Market (ADGM) tarafından alınan lisanslar Circle’ın küresel büyüme stratejisini destekleyen önemli gelişmeler arasında gösteriliyor.
Circle 2025’te Halka Açıldı Circle için en önemli dönüm noktalarından biri Haziran 2025’te gerçekleşen halka arz oldu. Şirket, New York Borsası’nda (NYSE) CRCL koduyla işlem görmeye başladı. Bu gelişmeyle birlikte yatırımcılar, ilk kez doğrudan stablecoin altyapısına odaklanan halka açık bir şirkete yatırım yapma fırsatı elde etti. Ancak CRCL hissesi satın almak, doğrudan Bitcoin veya kripto para fiyatlarına yatırım yapmak anlamına gelmiyor.
CRCL hissesine yatırım yapanlar dolaylı olarak;
USDC’nin küresel ölçekte büyümesine, Stablecoin kullanımının yaygınlaşmasına, Dijital ödeme sistemlerinin gelişmesine, Blokzincir tabanlı finansal altyapının güçlenmesine, Finansal tokenizasyonun yaygınlaşmasına yatırım yapmış oluyor. Bu yönüyle Circle, kripto para fiyatlarından ziyade dijital finans altyapısının büyümesine odaklanan bir teknoloji ve finans şirketi olarak değerlendiriliyor.
Circle’ın Gelecek Vizyonu Circle yalnızca USDC ihraç eden bir şirket olmanın ötesine geçmeyi hedefliyor.
Şirket;
Circle Payments Network StableFX Arc blokzincir altyapısı Kurumsal API çözümleri Akıllı sözleşme altyapıları Zincirler arası transfer teknolojileri gibi ürünlerle küresel finans altyapısının temel oyuncularından biri olmayı amaçlıyor. CEO Jeremy Allaire, şirketin misyonunu “paranın internet üzerinde özgürce hareket edebildiği açık ve programlanabilir küresel ekonomi oluşturmak” şeklinde tanımlıyor.
Circle (CRCL), stablecoin sektörünün en önemli şirketlerinden biri olarak dijital finansın geleceğinde kritik bir rol üstleniyor. USDC’nin arkasındaki güçlü rezerv yapısı, düzenleyici uyumluluğa verdiği önem ve küresel finans kuruluşlarıyla kurduğu iş birlikleri şirketi rakiplerinden ayırıyor. Halka arz sonrası yatırımcıların ilgisini çeken Circle, stablecoin kullanımının yaygınlaşmasıyla birlikte büyüme potansiyelini korurken, faiz politikaları ve düzenleyici gelişmeler şirketin geleceğini şekillendirecek en önemli faktörler arasında yer alıyor. Dijital ödemelerin ve blokzincir tabanlı finansal hizmetlerin yaygınlaşmasıyla birlikte Circle’ın küresel finans sistemindeki etkisinin önümüzdeki yıllarda daha da artması bekleniyor.
Resmi Bağlantılar Website X (Twitter) Whitepaper Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Circle just got put on notice. CoinShares published an analysis on July 13 identifying Open USD, the new stablecoin from the Open Standard consortium, as the most credible competitive threat USDC has faced since its inception.
The warning comes less than two weeks after the OUSD announcement sent Circle’s stock into a tailspin, dropping roughly 17.5% to a four-month low near $62.63 on June 30.
The economics that spooked Wall Street Instead of the issuer pocketing the reserve yield, OUSD redirects the majority of that income to partner businesses in the consortium. The companies that distribute and integrate the stablecoin get paid for doing so, rather than watching the issuer collect all the economics.
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The Open Standard consortium includes over 140 companies, with Visa, Mastercard, and BlackRock among the headline names.
What OUSD actually looks like OUSD is scheduled to launch in the second half of 2026, with Solana as its initial blockchain. The stablecoin will offer fee-free minting and redemption at launch.
Reserve composition, custodian arrangements, and long-term fee structures haven’t been publicly disclosed yet.
CoinShares acknowledged that while the threat is real, OUSD faces an enormous lift in replicating the network effects USDC has built over nearly a decade of integrations across DeFi protocols, centralized exchanges, and payment platforms.
The Coinbase variable The revenue-sharing agreement between Coinbase and Circle is up for renewal on August 18, 2026. Coinbase has been a major distribution channel for USDC, and the economics of that arrangement have been a point of ongoing negotiation between the two companies.
What this means for investors Circle’s revenue model depends heavily on reserve interest income. If competitive pressure forces Circle to share more of that yield with distribution partners, whether through an OUSD-like model or simply through renegotiated deals like the Coinbase agreement, margins compress.
CoinShares suggests the short-term impact on USDC itself will be limited, given its deep liquidity, years of protocol integrations, and regulatory track record that a brand-new stablecoin cannot replicate on day one.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Coinbase is pulling the plug on USDC deposits and withdrawals through the Noble network, giving users until August 17, 2026 to sort out their stablecoin logistics.
Noble is a dedicated appchain in the Cosmos ecosystem built specifically for moving digital assets across the broader Cosmos network. It launched native USDC issuance in partnership with Circle back in September 2023, and currently holds roughly $132 million in USDC.
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A broader cleanup, not just a one-off This isn’t an isolated move. Coinbase is also ending support for cbETH, its liquid staking token, on Arbitrum, Optimism, and Polygon on that same August 17, 2026 date.
What this means for Cosmos users Before Noble, getting USDC into Cosmos-based DeFi protocols meant going through bridging processes that added friction, cost, and risk. Noble offered a cleaner path: Circle-issued USDC that could flow natively through the Inter-Blockchain Communication protocol, connecting Cosmos chains without the usual bridge headaches.
Users who currently rely on Coinbase for Noble-based USDC transactions will need to pivot to alternative supported networks. Ethereum, Base, and Solana remain available options for USDC deposits and withdrawals.
The $132 million in USDC currently on Noble won’t vanish overnight. Circle still issues USDC natively on the chain, and other exchanges or on-ramps may continue supporting it.
For investors holding USDC on Noble through Coinbase, the action item is straightforward: migrate before August 2026. That could mean withdrawing to a supported network like Ethereum or Base, or finding an alternative exchange that maintains Noble support.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
JPMorgan believes the new Hyperliquid partnership will weigh on earnings for both firms, yet says pro-crypto legislation backed by President Donald Trump‘s administration could ultimately prove to be the more important story for investors.
Hyperliquid Changes The EconomicsCoinbase and Circle announced in May that Hyperliquid would adopt USDC as its preferred stablecoin, a move designed to deepen the token’s presence across one of crypto’s fastest-growing decentralized exchanges.
The catch? JPMorgan says the revised arrangement significantly changes how the two companies split the economics.
Coinbase will now classify USDC held on Hyperliquid as “on-platform,” allowing it to earn reserve income before paying 90% of that revenue back to Hyperliquid. The firm estimates roughly $6 billion of USDC, or about 8% of the circulating supply, now sits on the platform.
The result is a near-term revenue headwind for both companies, prompting JPMorgan to lower earnings estimates. The brokerage now expects the full impact of the revised economics to become more visible during the second half of 2026, alongside a softer crypto trading environment marked by lower volumes, weaker digital asset prices and declining DeFi activity.
The Prisoner’s DilemmaJPMorgan argues the Hyperliquid deal highlights a broader challenge for the Coinbase-Circle partnership.
Rather than simply sharing the benefits of USDC adoption, both companies are incentivized to compete for distribution partners. Winning those relationships could increasingly require giving away a larger share of the economics, creating what the analysts describe as a classic “prisoner’s dilemma.”
In other words, USDC adoption may continue to grow while the value each company captures from that growth gradually shrinks.
Washington May Be The Bigger CatalystThat’s why JPMorgan believes investors shouldn’t lose sight of the bigger picture.
The firm continues to view U.S. digital asset market structure legislation as a potential turning point for the industry, even as the path to passage becomes more uncertain with the Senate’s legislative calendar narrowing ahead of its August recess.
Clearer crypto rules could encourage greater institutional participation, improve market confidence and accelerate development across the digital asset ecosystem—all of which could expand demand for USDC.
JPMorgan also expects higher interest rates to support reserve income through 2027, particularly for Coinbase, even after trimming its forecasts for USDC balances.
For investors, Hyperliquid may explain the next few quarters. But if Trump’s crypto agenda succeeds in creating a clearer regulatory framework, the long-term winner may not be the company that negotiated the better deal—it could be the one serving a much larger stablecoin market.
Photo: Skorzewiak on Shutterstock.com
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A hacker exploited Ostium, a decentralized perpetuals exchange on Arbitrum, in a sophisticated oracle manipulation scheme that resulted in the loss of $18 million in USDC from the protocol’s liquidity vault.
Attacker exploited automated price-feed systemBlockchain security firm Blockaid first detected the exploit, which targeted a key component of Ostium’s price automation setup known as the PriceUpKeep forwarder. The attacker submitted falsified oracle reports featuring future-dated timestamps, effectively making losing trades appear as if they were profitable.
This manipulation enabled the attacker to trigger an $18 million payout from Ostium’s vault. Blockaid’s analysis shows that the exploit succeeded by leveraging the privileged role of automation components responsible for reporting on real-world asset prices.
The attacker used a registered PriceUpKeep forwarder to push manipulated price data with future timestamps, forcing the protocol to recognize fabricated profits and enabling an $18 million USDC withdrawal from the liquidity vault.
The exploit underscores persistent vulnerabilities across decentralized finance, particularly in the systems that automate and verify price reporting from real-world sources onto blockchains.
Mini dictionary: Ostium is a decentralized trading protocol on Arbitrum that enables users to trade perpetual contracts of real-world assets such as gold, foreign currencies, and equity indices, typically with high leverage and onchain settlement in stablecoins.
Pattern of DeFi oracle system vulnerabilitiesIncidents similar to the Ostium attack have plagued other decentralized protocols, with DeFi platforms frequently targeted through exploits involving oracle or keeper infrastructure. Just last week, $6 million was drained from Summer.fi in a comparable attack where privileged components manipulated the timing or content of price data.
Ostium’s system relies on a third-party network called Gelato to automate the delivery of real-world price data to its onchain contracts. The central PriceUpKeep contract writes the latest asset prices to Arbitrum whenever a user executes a trade. Attackers have increasingly targeted these automated update mechanisms, seeking out weaknesses in how and when price data is written to the blockchain.
By controlling or spoofing trusted automation components, bad actors can fabricate trading outcomes on paper and extract protocol funds by triggering illegitimate settlements.
PlatformDate of ExploitLoss AmountAttack VectorOstiumJune 2026$18 millionOracle manipulation via PriceUpKeepSummer.fiJune 2026$6 millionKeeper/oracle system breachOstium’s growth and funding backgroundBefore the exploit, Ostium had raised a total of $27.8 million, including a $24 million Series A co-led by venture investors General Catalyst and Jump Crypto in late 2025. The protocol had also reported over $50 billion in cumulative trading volume, reflecting strong user interest in onchain derivatives tied to real-world markets.
At the time of the incident, Ostium allowed traders to access commodities, forex pairs, and equity indices, offering up to 200x leverage and USDC-settled contracts.
Ongoing investigations are underway after security alerts surfaced, with the extent of the attacker’s identity and the possibility of recovering the drained funds currently unknown.
Incidents like Ostium’s highlight the risks associated with DeFi protocols’ increasing reliance on complex automation and oracle infrastructure, especially when these systems are entrusted with large amounts of investor capital.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ostium, an Arbitrum-based perpetual trading protocol built around real-world assets, halted all trading on July 15, 2026 after confirming a serious anomaly in its Ostium Liquidity Provider vault. The protocol did not mince words: something had gone badly wrong with the OLP vault, and trading would stay paused until the team figured out what.
Security firm Blockaid identified the root cause as an oracle exploit tied to a compromised signer key. The attacker got hold of a cryptographic key that the protocol uses to validate external price data, then used it to feed the system a fabricated price report that looked completely legitimate. Because the price feed appeared valid, the protocol had no reason to reject the trades built on top of it. The attacker effectively engineered synthetic profits out of thin air, and those profits came directly out of the OLP vault.
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Estimates put the total drainage between $18M and $23.7M in USDC. The vault held roughly $32.7M before the attack. After it, approximately $9M remained, a decline of around 72% in TVL. The stolen funds were subsequently converted to ETH and dispersed across multiple wallets. Ostium confirmed that trader funds and open positions are preserved in a frozen state.
Ostium’s OLP vault works by letting liquidity providers deposit USDC in exchange for OLP tokens, earning fees generated by trading activity. That structure makes the vault the natural counterparty to every trade on the platform. When trades generate synthetic profits via a rigged price feed, those profits flow out of the very pool that LPs funded.
Ostium had built genuine momentum before this happened. The protocol launched its mainnet vault in 2024 and had accumulated over $33B in cumulative trading volume by the time of the exploit. The protocol’s focus on real-world assets, including commodities and forex, gave it a niche that differentiated it from crypto-native perpetuals platforms. Audited smart contracts and liquidity incentive campaigns were part of the pitch to users and LPs considering whether to park capital there.
For anyone with exposure to Ostium, whether as a liquidity provider holding OLP tokens or a trader with open positions, the key variables are: whether the attacker can be identified and funds recovered, how Ostium structures any reimbursement for affected LPs, and whether the protocol can credibly harden its oracle infrastructure before reopening. Ostium has committed to transparency and is working with security experts.
For investors evaluating liquidity provision in DeFi protocols broadly, this incident is a useful reminder that smart contract audits do not cover every attack surface. Key management, signer infrastructure, and oracle trust assumptions sit outside the audit scope and represent real, exploitable risk.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ostium, a decentralized perpetuals exchange operating on the Arbitrum network, experienced a significant security breach on Wednesday that resulted in a loss of approximately $18 million in USDC. Attackers gained access to a critical oracle signer key and manipulated the platform’s price feed, leading to artificial trading profits and a major drain on assets.
Attack exploited price oracle via compromised keyBlockchain security firm Blockaid reported that the exploit was executed using a registered PriceUpKeep forwarder and future-dated oracle price reports. By submitting these manipulated inputs, the attackers were able to generate large, fake profits from trading activities. The resulting payouts were issued from Ostium’s liquidity vault directly in USDC, a widely used stablecoin issued by Circle.
Blockaid stated that nearly one-third of Ostium’s total liquidity, which amounted to about $63 million at the time of the breach, was drained in the attack. The manipulation targeted Ostium’s core mechanism for pricing assets, which relies on oracles—external data feeds that set current trading values.
Mini dictionary: Oracle signer key — A cryptographic key used by trusted entities to validate and submit price or data reports to blockchain networks. If compromised, it can enable attackers to falsify on-chain information, undermining protocol security.
Ostium posted on X, “We are aware of the issue with the OLP vault. We have paused all trading. The team is investigating.”
Vulnerability shakes decentralized finance sectorOstium functions as a decentralized exchange (DEX), enabling users to trade perpetual futures that track real-world assets such as stocks, commodities, foreign exchange markets, and indices. As a typical DEX, the platform allows users to retain custody of their funds and does not require personal identification.
This incident highlights persistent vulnerabilities in the decentralized finance (DeFi) sector. More than $840 million has already been stolen from DeFi protocols in the first five months of 2026 alone, with notable attacks on KelpDAO, which lost $292 million, and Drift Protocol, which lost $285 million. In June, hackers also stole over $25 million from Resolv Labs.
ProtocolLoss AmountDateOstium$18 millionJune 2026KelpDAO$292 millionEarly 2026Drift Protocol$285 millionEarly 2026Resolv Labs$25 millionJune 2026Rising concern over AI-driven exploitsSecurity professionals are increasingly warning that advances in artificial intelligence are making it easier to discover vulnerabilities within smart contracts and blockchain infrastructure. Danny Jenkins, CEO and co-founder of cybersecurity firm ThreatLocker, noted that modern AI systems are outperforming humans in reviewing code and identifying weaknesses.
Jenkins explained, “AI is far better at reviewing code than most people and finding potential vulnerabilities in it,” and emphasized that newer models like Mythos could make the discovery process even more effective, signaling an imminent major challenge for security teams.
He added that it is only a matter of time before malicious actors leverage state-of-the-art AI tools to exploit these vulnerabilities at scale.
Recently, security researcher Taylor Hornby used Anthropic’s Claude Opus 4.8 model to uncover a four-year-old counterfeiting bug in Zcash, demonstrating that advanced AI tools can now identify even complex and longstanding software flaws.
Mini dictionary: Zcash — A privacy-focused cryptocurrency that uses advanced cryptography to shield transaction details. Security vulnerabilities in such protocols can undermine privacy or allow unauthorized coin creation.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ostium has halted trading after an exploit tied to a compromised oracle signer key drained nearly $18 million USDC from its liquidity vault, according to blockchain security firm Blockaid.
Summary
Blockaid linked Ostium’s $18 million exploit to a compromised oracle signer key. The attacker drained up to 28% of the protocol’s $63 million liquidity vault. Ostium halted trading as investigators probe the oracle-based attack. Blockaid reported that the attacker gained control of an oracle signer private key, allowing them to bypass the protocol’s verification process and submit future-dated price reports that favored their trades. Using a registered PriceUpKeep forwarder, the attacker repeatedly opened and closed positions through delegated actions, extracting profits without taking genuine market risk.
🚨 Blockaid detected an @Ostium Vault exploit on Arbitrum.
An attacker used a registered PriceUpKeep forwarder and future-dated authorized oracle reports to create artificial trade profit, triggering a ~$18M USDC payout from the vault.
More details in 🧵
— Blockaid (@blockaid_) July 15, 2026 The security firm said the exploit triggered around 20 trading loops that steadily drained funds from Ostium’s main vault. On-chain records show the attacker withdrew between $11.86 million and $18 million USDC, equal to roughly 28% of the protocol’s $63 million total value locked at the time of the incident. The primary exploit transaction can be verified on Arbiscan.
Ostium, which operates on Arbitrum, offers decentralized perpetual trading for tokenized real-world assets, including equities, commodities, foreign exchange markets and stock indices.
Oracle key compromise enabled repeated profit extraction Instead of exploiting a flaw in smart contract code, the attacker abused trusted oracle infrastructure after obtaining a valid signer key. According to Blockaid, the manipulated oracle reports allowed favorable prices to pass protocol checks, making each trade appear legitimate while transferring losses to the liquidity vault.
The incident has renewed attention on oracle security as decentralized finance protocols increasingly depend on external data feeds for pricing. Blockaid attributed the exploit to compromised signing credentials rather than a pricing error or market manipulation through normal trading activity.
The protocol has since paused trading while the investigation continues. Users have been advised to follow Ostium’s official communication channels for updates on withdrawals and any further recovery measures.
Update: All trader funds and open positions are currently preserved as-is (frozen). Funds in the trading storage contract are paused. The team is actively investigating with relevant security experts. We will provide updates as they come. https://t.co/zDe8gapmS3
— Ostium (@Ostium) July 15, 2026 Institutional backing failed to prevent another security setback Before the exploit, Ostium had raised about $27.8 million from investors including General Catalyst, Jump Crypto, Coinbase Ventures, Wintermute and GSR. The incident occurred despite the project’s institutional backing and multiple security audits, highlighting that infrastructure outside audited smart contracts can still become a critical point of failure.
The attack also adds to a series of recent security incidents affecting crypto platforms. Earlier this month, crypto.news reported that Ctrl Wallet announced it would permanently shut down after a separate security exploit affecting some Cardano wallets.
The company gave users until Aug. 3 to move their crypto assets before wallet functions, including sending, receiving and swapping, are disabled, leaving only recovery phrase exports available.
Elsewhere in the Arbitrum ecosystem, Secret Network recently proposed migrating its SCRT token from Cosmos to Arbitrum, citing security concerns, weaker liquidity and aging code on its current network. The proposal includes a one-time Sept. 1 snapshot that would distribute a new ERC-20 SCRT token on Arbitrum to eligible native and staked SCRT holders.
As projects continue expanding onto Arbitrum, the Ostium exploit demonstrates that securing oracle infrastructure remains as important as auditing smart contracts. According to Blockaid’s findings, a single compromised signer key was enough to bypass trusted price verification and inflict multimillion-dollar losses within hours.
GERMANTOWN, Md., & VENLO, Netherlands--(BUSINESS WIRE)--QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) today highlighted its portfolio of molecular testing solutions supporting the public health response to the growing number of cyclosporiasis cases reported across the United States.
More than 1,600 U.S. cases of cyclosporiasis have been confirmed since May, along with another 7,000 potential cases, as health authorities investigate multiple outbreaks involving Cyclospora cayetanensis, a foodborne parasite that can cause prolonged diarrhea and other gastrointestinal symptoms. The parasite is not detected through routine stool culture and requires specialized diagnostic methods, including molecular testing.
QIAGEN's Sample to Insight portfolio supports laboratories across the molecular testing continuum, from syndromic diagnostics and digital PCR to next-generation sequencing (NGS):
The FDA-cleared QIAstat-Dx Gastrointestinal Panel 2 includes Cyclospora cayetanensis as a standard target within its 16-target menu for bacterial, viral and parasitic pathogens. The fully integrated syndromic test delivers results in about an hour, enabling laboratories to test for Cyclospora alongside other common causes of gastrointestinal illness from the initial patient sample. For research use only, QIAGEN offers the digital PCR Microbial DNA Detection Assay targeting Cyclospora cayetanensis for use with the QIAcuity digital PCR system, supporting highly sensitive detection in research and public health applications. QIAGEN's sequencing portfolio also includes the PulseNet-approved QIAseq FX DNA Library Prep Kit for research use only with any NGS sequencer. This kit is designed to support “shotgun sequencing workflows” that analyze all DNA in a sample to help identify and characterize foodborne pathogens for PulseNet, the U.S. public health laboratory network that detects and investigates foodborne disease outbreaks. “The current rise in cyclosporiasis cases highlights the need for rapid, reliable detection to support timely patient care and effective public health action,” said Nitin Sood, Senior Vice President and Head of Product Portfolio & Innovation at QIAGEN. “QIAGEN is ready to support laboratories and public health authorities worldwide with molecular testing technologies that help detect infections, guide investigations and strengthen responses to emerging disease threats.”
Further information about QIAGEN's molecular testing solutions supporting clinical diagnostics, research and public health laboratories is available through local QIAGEN representatives or the QIAGEN Customer Care team on www.qiagen.com.
About QIAGEN
QIAGEN N.V., a Netherlands-based holding company, is a global leader in Sample to Insight solutions that enable customers to extract and analyze molecular information from biological samples containing the building blocks of life. Our Sample technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies prepare these biomolecules for analysis, while bioinformatics support the interpretation of complex data to deliver actionable insights. Automation solutions integrate these steps into streamlined, cost-effective workflows. QIAGEN serves more than 500,000 customers worldwide in the Life Sciences (academia, pharmaceutical R&D and industrial applications such as forensics) and molecular diagnostics (clinical healthcare). As of June 30, 2026, QIAGEN employed approximately 5,500 people across more than 35 locations. For more information, visit www.qiagen.com.
Forward-Looking Statement
Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These statements can be identified by the use of forward-looking terminology such as “believe”, “hope”, “plan”, “intend”, “seek”, “may”, “will”, “could”, “should”, “would”, “expect”, “anticipate”, “estimate”, “continue”, “target” or other similar words. To the extent that any of the statements contained herein relating to QIAGEN’s products, timing for launch and development, marketing and/or regulatory approvals, financial and operational outlook, growth and expansion, acquisitions, collaborations, markets, strategy or operating results, including without limitation its expected net sales, net sales of particular products, net sales in particular geographies, adjusted net sales, expansion of adjusted operating income margin, returns to shareholders, progressive dividend payments, product portfolio management, product launches (including anticipated launches of our sequencing solutions, testing platforms, panels and systems), leveraging AI technology, improvements in operating and financial leverage, currency movements against the U.S. dollar, plans for investment in our portfolio and share repurchase commitments, our expectations relating to our adjusted tax rate, debt maturity and repayment, our ability to grow adjusted earnings per share at a greater rate than sales, our ability to improve operating efficiencies and maintain disciplined capital allocation, are forward-looking, such statements are based on current expectations and assumptions that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with our dependence on the development and success of new products; management of growth and expansion of operations (including the effects of currency fluctuations, tariffs, tax laws, regulatory processes and logistics and supply chain dependencies); variability of operating results; integration of acquired businesses; changes in relationships with customers, suppliers and strategic partners; competition; rapid or unexpected changes in technologies; fluctuations in demand for QIAGEN’s products (including fluctuations due to general economic conditions, the level and timing of customers’ funding, budgets and other factors, including delays or limits in the amount of reimbursement approvals or public health funding); our ability to obtain and maintain product regulatory approvals; difficulties in successfully adapting QIAGEN’s products to integrated solutions and producing such products; the ability of QIAGEN to identify and develop new products and to differentiate and protect our products from competitors’ products; market acceptance of new products and the integration of acquired technologies and businesses; actions of governments, global or regional economic developments, including inflation and changing interest rates, weather or transportation delays, natural disasters, cyber security breaches, political or public health crises and the resulting impact on the demand for our products and other aspects of our business, or other force majeure events; litigation risk, including patent litigation and product liability; debt service obligations; volatility in the public trading price of our common shares; as well as the possibility that expected benefits related to recent or pending acquisitions may not materialize as expected; and the other factors discussed under the heading “Risk Factors” in our most recent Annual Report on Form 20-F. For further information, please refer to the discussions in reports that QIAGEN has filed with, or furnished to, the U.S. Securities and Exchange Commission.
BOSTON, July 15, 2026 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Pentair (NYSE: PNR) for potential securities law violations. Investors who have lost money in their Pentair investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/pnr.
What is this all about?
Block & Leviton is investigating whether Pentair plc and certain of its executives violated federal securities laws in connection with what the company told investors about the health of inventory in its Pool channel. On April 28, 2026, Pentair guided to roughly 1% second-quarter sales growth and 2–4% full-year growth, and management told investors it had evaluated a range of Pool revenue scenarios and reflected the expected sell-in pressure in that guidance. Then, after the market closed on July 14, 2026, Pentair pre-announced that preliminary second-quarter sales would be approximately $930 million — down about 17% year-over-year — and slashed its full-year outlook, attributing the shortfall to Pool channel inventory destocking that was "more pronounced" than previously estimated and that it estimated would cut full-year Pool sales by roughly $250 million. The company also disclosed that its chief financial officer had departed on July 10, 2026, just days before the warning, with the former CFO returning on an interim basis. Pentair shares fell sharply on the news.
Who is eligible?
Anyone who purchased Pentair common stock and has seen their shares fall may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What is Block & Leviton doing?
Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at [email protected], or by phone at (888) 256-2510.
Whistleblower?
If you have non-public information about Pentair, you should consider assisting in our investigation or working with our attorneys to file a report with the Securities Exchange Commission under their whistleblower program. Whistleblowers who provide original information to the SEC may receive rewards of up to 30% of any successful recovery. For more information, contact Block & Leviton at [email protected] or by phone at (888) 256-2510.
Why should you contact Block & Leviton?
Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, call (888) 256-2510 or email [email protected] with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
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Boston, MA 02110
Phone: (888) 256-2510
Email: [email protected]
SAN FRANCISCO, July 15, 2026 (GLOBE NEWSWIRE) -- National shareholder rights firm Hagens Berman is investigating potential violations of U.S. securities laws by Pentair plc (NYSE: PNR) following the company’s recent announcement of a significant earnings warning, a sharp reduction in full-year guidance, and the unexpected resignation of its Chief Financial Officer. The firm encourages Pentair investors who suffered substantial losses to contact its attorneys.
Report Your PNR Investment Losses to HBSS
Visit: www.hbsslaw.com/investor-fraud/pnr
Contact the Firm Now: [email protected]
844-916-0895
Focus of HBSS’ Pentair plc (PNR) Investigation:
On July 14, 2026, Pentair shocked investors by pre-announcing preliminary second-quarter 2026 financial results that fell substantially below consensus estimates. The company revealed that sales were expected to be approximately $930 million—a significant miss against prior forecasts of $1.14 billion.
While the company attributed the shortfall to inventory destocking in its Pool channel, Hagens Berman is investigating whether these results may have been exacerbated by undisclosed and unsustainable sales practices with its distributors – practices that may have artificially inflated the company’s revenue figures in prior reporting periods.
These concerns are compounded by the abrupt departure of CFO Nicholas Brazis, who left the company after serving in the role for only four months, raising further questions regarding the internal controls surrounding the company’s revenue recognition and sales forecasting.
Following these disclosures, Pentair slashed its full-year 2026 growth guidance, reversing its earlier projections. The news triggered an immediate and sharp decline in Pentair’s share price, resulting in a significant loss of shareholder value.
“Investors deserve transparency regarding the true health of a company’s sales channels,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation. “We are looking into whether the company may have utilized unsustainable practices with distributors to meet short term internal targets.”
If you invested in Pentair and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to other frequently asked questions about the firm’s Pentair investigation, read more »
Whistleblowers: Persons with non-public information regarding Pentair should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
July 15, 2026 16:15 ET | Source: Royalty Pharma plc
NEW YORK, July 15, 2026 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced that it will report its second quarter 2026 financial results on Wednesday, August 5, 2026 before the U.S. financial markets open. The company will host a conference call and simultaneous webcast at 8:00 a.m. Eastern Time that day.
Conference Call Information
Please visit the “Investors” page of the company’s website at https://www.royaltypharma.com/investors/events/ to obtain conference call information and to view the live webcast. A replay of the conference call and webcast will be archived on the company's website for at least 30 days.
About Royalty Pharma plc
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, Servier’s Voranigo, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, and 19 development-stage product candidates. For more information, visit www.royaltypharma.com.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) plans to report its 2nd Quarter 2026 earnings on August 6, 2026 after the market closes.
Consolidated Edison, Inc. is a holding company that provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric service in New York City and New York's Westchester County, gas service in Manhattan, the Bronx, parts of Queens and parts of Westchester, and steam service in Manhattan; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile area in southeastern New York State and northern New Jersey; and Con Edison Transmission, Inc., a regulated company primarily under the oversight of the Federal Energy Regulatory Commission, that develops and invests in electric transmission projects and owns interests in both electric and gas assets.
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Lucid is in the middle of a turnaround effort. It's not considering bankruptcy, the company said. Lucid Motors Lucid Motors wants everyone to know it's not going bankrupt.
On Tuesday, the luxury EV maker filed paperwork with the SEC, forcefully denying two articles from EVs.com that — citing anonymous sources — reported the company was considering bankruptcy or going private. The automaker also sent the publication a cease-and-desist letter demanding that it retract the reports.
Cláudio Afonso, the founder of EVs.com's parent company, CARBA, told Business Insider that the company had responded to Lucid's letter but declined to comment further.
"Lucid is not considering bankruptcy or a transaction to take the company private," Silvio Napoli, the company's recently-appointed CEO, wrote in a LinkedIn post on Wednesday. "Those reports are false. The Board did not explore either scenario. Period."
Nick Twork, Lucid's communications chief, also pushed back in a series of posts on X.
$LCID The rumors are completely false. The company has sufficient liquidity to carry its operations well into next year, as recently published in its last quarterly filings, and it has not formed any special Board committee to explore the scenarios reported today. Our focus is…
— Nick Twork (@ntwork) July 14, 2026 The reports have sent Saudi-backed Lucid's shares on a wild ride this week. The stock price dropped from an opening of $5.53 on Tuesday to a midday low of around $2.40 following the articles. By Wednesday, the stock had largely recovered, rising more than 18%.
Lucid confirmed that it was working with AlixPartners, an advisory firm known for corporate turnarounds, but said the firm was helping improve its operations and execution — not preparing it for bankruptcy.
"My priority is clear: turn this company around," Napoli wrote.
This moment is consequential for Lucid Motors. The company is still climbing through the so-called "valley of death," where startup automakers burn through vast amounts of cash while trying to reach mass-market profitability. Last quarter, Lucid lost more than $1 billion.
During its May earnings call, an investor asked management about concerns that Lucid could eventually face bankruptcy. The company declined to address "market rumors or hypothetical strategic alternatives."
Lucid said it ended the quarter with $3.2 billion in total liquidity and said subsequent financing would have raised that figure to about $4.7 billion on a pro forma basis — enough, the company now says, to fund operations well into 2027.
Lucid has gone through two major layoff events this year, including a 12% staffing cut in February and an 18% workforce reduction in June.
Napoli, who took over as CEO on June 1, has overseen major C-suite changes, too: The company eliminated the chief operating officer position held by Marc Winterhoff, the recent interim CEO. Chief financial officer Taoufiq Boussaid also left in July.
Lucid has struggled to build sales momentum for its current lineup. Lucid reported 3,953 deliveries, below an analyst estimate of about 5,000. It's now offering massive incentives on its 2026 Gravity SUVs, including 0% financing for up to six years.
The biggest test is still coming
Lucid filed patent paperwork in May that could be teasing its coming mass-market car. EUIPO Right now, both of Lucid's cars — the Air sedan and Gravity SUV — carry luxury prices.
The long-awaited Cosmos is supposed to change that. The midsize SUV is expected to enter production by the end of 2026 on a new platform that Lucid says will support vehicles starting below $50,000.
That would put Lucid into the heart of the American auto market — and one of its most competitive segments.
Rivian began delivering its R2 in June, while Tesla has continued expanding the Model Y lineup. The Cosmos will also compete against established electric SUVs, including the Toyota bZ, Ford Mustang Mach-E, Hyundai Ioniq 5, and Chevrolet Equinox EV.
Its gas-powered competition may be even tougher. The Honda CR-V was the country's best-selling SUV during the first half of the year, while Toyota has been ramping production of its redesigned RAV4 amid tight supplies and strong demand.
Lucid plans to follow the Cosmos with a more rugged SUV called the Earth and has previewed a purpose-built robotaxi called the Lunar.
Read next
Ben Shimkus You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41.
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Live Updates 5 minutes ago
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That wraps up our initial coverage of UAL’s Q2 results. Thank you for stopping by!
Check out management’s earnings call at 10:30 AM EST tomorrow, July 16, for more updates.
26 minutes ago
Live
Shares slipped roughly 4% after hours despite United Airlines (NASDAQ:UAL | UAL Price Prediction) beating on both lines: adjusted EPS of $1.99 versus $1.8498 expected and revenue of $17.67 billion.
The reaction fits UAL’s post-beat pattern. Following Q1 2026’s 8.93% beat, shares still fell -5.58%. Q3 2025’s beat produced a -5.63% drop. The average day-of move on beats sits at -1.8%.
The market is fixating on the Q3 and FY 2026 EPS guidance coming in below analyst expectations, net income falling -17.27%, and free cash flow collapsing -65.38%. With shares up 35.32% over the past year, the market may have already priced in a big beat.
33 minutes ago
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United’s 16% second-quarter revenue growth was driven by several of its highest-value businesses expanding at double-digit rates.
Premium revenue increased 16% year over year, while Basic Economy and loyalty revenue each grew 11%. Cargo delivered the strongest increase at 23%, and contracted business revenue climbed 27% as corporate travel remained resilient.
Operational performance also improved. United posted its best second-quarter systemwide on-time departure rate since 2021, while Newark delivered its best-ever Q2 result.
Starlink is now installed on 450 aircraft, including United’s first widebody installation, with nearly 1,000 aircraft expected to offer the service by year-end.
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United Airlines raised its full-year adjusted EPS guidance to $9.00 to $11.00, even as it expects nearly $6 billion in additional 2026 fuel costs compared with its assumptions at the beginning of the year.
Fuel expense climbed $2.3 billion, or 84%, year over year during Q2. United recovered approximately half of that increase during the quarter and expects to recover 80% to 90% by Q3 and nearly all of it by Q4.
The recovery reflects strong pricing power, with yields rising 12% during the quarter. United’s ability to raise fares and offset the fuel shock helps explain why management increased the bottom end of its full-year earnings range despite the enormous cost increase.
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United Airlines just reported second-quarter earnings, with shares initially down 3% following the report. Here are the key numbers:
Revenue: $17.7 billion vs. $17.6 billion expected Adjusted EPS: $1.99 vs. $1.87 expected Guidance:
Full-year adjusted EPS: $9.00 to $11.00, raised from the prior $7.00 to $11.00 range
Quick Read:
United beat expectations on both revenue and earnings, while raising the bottom end of its full-year outlook by $2 per share.
The airline also secured $3.7 billion in additional liquidity to protect against geopolitical uncertainty and oil-price spikes, while expanding Starlink to 450 aircraft and targeting nearly 1,000 by year-end.
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United Airlines (NASDAQ:UAL) trades at $120.67 with Polymarket odds at 97% for a beat, but four wildcards remain unpriced.
First, CEO Scott Kirby sold 48,303 shares at $121.30 on June 15, an unusual pre-earnings move.
Second, the full-chain put/call ratio sits at 1.6, with the July 24 expiry spiking to 6.06, signaling heavy hedging against the crowd.
Third, ratification risk lingers on the tentative deal covering 30,000 flight attendants.
Fourth, history warns: UAL’s average day-of reaction after beats is -2.25%, and last quarter’s 8.93% surprise still triggered a -5.58% drop.
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The Guidance That Matters Most Tonight Wall Street’s attention shifts quickly from Q2 results to United Airlines (NASDAQ:UAL) Q3 and full-year outlook. Investors want a fresh Q3 EPS guide, an updated FY26 EPS range (currently $7 to $11), fuel assumptions, and capacity plans beyond the 5-point cut already announced.
CFO Michael Leskinen framed recovery in phases: 70% to 80% fuel recapture in Q3 and 85% to 100% by Q4. Any narrowing toward the upper half ($9 to $11) would signal fuel relief. Management has skewed conservative, beating EPS by 8.93% in Q1 2026, 5.41% in Q4 2025, and 3.98% in Q3 2025.
Bearish: FY26 EPS cut below the $7 floor, further capacity trims, or fuel recovery slipping behind schedule.
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54 minutes ago
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United wants to keep expanding, but the FAA has placed limits on flight growth at three of its most important hubs: Newark, Chicago O’Hare, and San Francisco.
Those constraints could make it harder for United to deploy new aircraft profitably just as its delivery schedule begins accelerating.
Competition is also getting tougher. American Airlines and Southwest are improving their revenue strategies, while Delta plans to expand at Los Angeles and across the Asia-Pacific market, where United is currently the largest U.S. carrier. That threatens the premium customers and international growth that have powered United’s post-pandemic recovery.
Investors will be looking for evidence that United can grow earnings despite hub restrictions, rising labor costs, heavy capital spending, and stronger competition from the other major U.S. airlines.
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United Airlines enters tonight’s report with one major tailwind: jet fuel prices have fallen from roughly $4 per gallon during the Iran crisis to below $3 on the U.S. spot market.
Because fuel expenses flow through airline results with a delay, the largest benefit may appear in United’s third-quarter guidance rather than its reported Q2 numbers.
Demand also remains strong. Airlines have successfully raised fares, premium travel continues to outperform, and the collapse of Spirit Airlines removed roughly 2% of U.S. capacity ahead of the summer season. That combination could allow United to preserve pricing even as its largest variable cost declines.
The key question is whether those improving conditions give management enough confidence to reaffirm its full-year adjusted EPS range of $7.00 to $11.00. A strong outlook would signal that United’s fuel recovery is arriving on schedule. Cautious guidance would suggest higher labor costs and operational pressures are absorbing more of the benefit.
1 hour ago
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This live blog is being updated by Thomas Richmond, a 24/7 Wall St. contributor. You’ll get expert analysis of United Airlines’ earnings.
Simply stay on this page, and new updates will appear below automatically. We expect United Airlines’ earnings to be released shortly after 4:00 p.m. ET.
1 hour ago
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United Airlines (NASDAQ:UAL) reports Q2 2026 results tonight, July 15, at 4:00 PM ET after the bell, with the earnings call scheduled for 10:30 AM ET the next morning. Shares sit at $121.25, up 39.2% over the past year, raising the bar for the earnings report.
Fuel Recovery Meets Premium Momentum Q1 delivered $1.19 EPS against a $1.0924 consensus, an 8.93% beat. Revenue rose 10.57% to $14.61 billion, with premium up 14% and loyalty up 13%.
However, fuel jumped to $2.78 per gallon from $2.53, a $340 million headwind. Management responded by pulling 5 points of capacity for the rest of 2026 and lowering the FY EPS band. Shares initially dropped 5.58% on the Q1 earnings report but have since rallied to $120.31.
Consensus Setup Metric Q2 2026 Guide FY 2026 Guide Adjusted EPS $1.00 to $2.00 $7.00 to $11.00 Fuel Recovery 40 to 50% Ramps to 85 to 100% by Q4 CapEx N/A Under $8B UAL’s forward P/E sits at 12, with a $120.31 share price, indicating meaningful upside to analysts’ consensus price target of $153.97.
Fuel Pacing and Guidance Range Take Center Stage Tonight, I’ll be watching UAL’s comments around fuel recovery first. CEO Scott Kirby framed Q2 as the toughest quarter of the recovery arc, so the surcharge and mix commentary will tell us whether the upper half of the FY $7-$11 band remains reachable.
Premium and loyalty durability matter next. Both grew by 14% and 13% in Q1, and the JetBlue (NASDAQ:JBLU) Blue Sky collaboration, plus new MileagePlus economics, should extend that runway.
Investors will also focus on international mix, particularly the Middle East, India, and Africa corridor that posted 23.9% passenger revenue growth, alongside Atlantic at 18.9%. CASM (Cost per Available Seat Mile) ran up 5.9%, so analysts will be looking for cost commentary, and the flight attendant tentative agreement covering 30,000 workers.
CEO Kirby said, “We’ll stay nimble in the short term while continuing to grow the airline and invest in our customers, product and people.”
Earnings History Quarter EPS Surprise 1-Day Move 1-Week Move 30-Day Move Q1 2026 +8.93% -0.5% -3.37% +9% Q4 2025 +5.41% -0.5% -5.45% -3.42% Q3 2025 +3.98% +0.97% -2.56% -8.39% Q2 2025 -0.22% +1.13% -1.63% +12.22% On average, shares moved -1.99% one week after earnings across the past year.
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Applied Materials (NASDAQ: AMAT | AMAT Price Prediction) and KLA (NASDAQ: KLAC) both closed strong quarters tied to AI infrastructure buildout. Applied posted Q2 FY2026 revenue of $7.91 billion on May 14, 2026. KLA reported Q3 FY2026 revenue of $3.415 billion on April 29, 2026. Both beat consensus. Their playbooks look nothing alike.
AI Fab Tools Lift One. Inspection Dominance Lifts the Other. Applied’s Semiconductor Systems segment delivered $5.965 billion at a 35.1% operating margin, up from 32.8%. DRAM mix moved to 29% of that segment, reflecting real HBM pull. CEO Gary Dickerson told investors Applied delivered “record quarterly performance” and now expects the semi equipment business to grow more than 30% in calendar 2026, raised from an earlier 20% call. That is a rare mid-cycle upgrade.
KLA’s story is narrower and richer. Process Control brought in $3.083 billion, roughly 90% of revenue, at a non-GAAP gross margin guide of 61.75% for June. Rick Wallace flagged “continued market share momentum in process control” backed by third-party industry data. Fewer product lines, harder moat.
Business Driver AMAT KLA Main revenue engine Semi Systems $5.965B Process Control $3.083B YoY revenue growth 11.4% 11.5% China revenue share 27% Meaningful, more insulated per analysts Breadth Play vs. Specialist Fortress Applied is widening the net. New Gate-All-Around tools like Precision Selective Nitride PECVD and Trillium ALD, the agreement to acquire ASMPT’s NEXX business for panel-level advanced packaging, and EPIC Center partnerships with TSMC, SK hynix, Micron and Samsung keep Applied embedded in every atomic-layer transition. This makes AMAT the more comprehensive AI manufacturing play, capturing raw physical volume of global foundry expansion.
KLA leans harder on one dominant niche. Inspection and metrology carry structurally higher margins, and Barclays upgraded KLAC to Overweight citing relative insulation from China export controls. The tradeoff: KLA’s diagnostic business is sensitive to wafer-start fluctuations.
The Next Test Is Cash and China Applied’s free cash flow fell to $210 million, down 80.21% YoY on working capital consumption. KLA’s FCF also softened to $622 million, off 36.97%, but the absolute figure remains healthier. Watch whether Applied converts its Q3 revenue guide of roughly $8.95 billion into cash, and whether KLA hits its $3.575 billion June-quarter target.
Why I Lean Toward Applied Materials Right Now AMAT is the sharper AI-infrastructure vehicle today. The 30%+ calendar 2026 equipment growth call, GAA tool ramp, and HBM exposure line up with where fab spending is going. KLA remains a beautiful business, and its 17th consecutive dividend increase plus a fresh $7 billion buyback authorization reward patient holders. For direct leverage to physical AI capacity coming online, Applied offers the clearest exposure. That thesis weakens if China restrictions tighten materially or if Applied’s cash conversion stays weak past one more quarter.
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Did you buy ZTS securities between January 14, 2025, and May 6, 2026?
Affected ZTS Investor Summary
Who: Zoetis Inc. (NYSE: ZTS) What: Securities fraud class action lawsuit filed Class Period: January 14, 2025 through May 6, 2026 Deadline to Seek Lead Plaintiff Status: July 27, 2026 Key Lawsuit Allegations: Material misstatements and/or omissions concerning the company's product adoption. Investor Action: Contact Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) for recovery options , /PRNewswire/ -- Kessler Topaz Meltzer & Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against Zoetis Inc. (Zoetis) (NYSE: ZTS) on behalf of those who purchased or otherwise acquired Zoetis securities between January 14, 2025 and May 6, 2026, inclusive (the "Class Period"). The lawsuit is filed in the United States District Court for the Southern District of New York and is captioned City of Ann Arbor Retiree Health Care Benefit Plan & Trust v. Zoetis Inc., No. 26-cv-04401 (S.D.N.Y.). Investors have until July 27, 2026, to file for lead plaintiff status.
CONTACT KTMC TO DISCUSS YOUR LEGAL RIGHTS:
If you purchased or acquired Zoetis securities and have lost money on your investment, please provide your information here:
You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. There is no cost or obligation to speak with an attorney.
ZOETIS INC. CLASS ACTION LAWSUIT - COMPLAINT ALLEGATION SUMMARY:
Zoetis is an animal health company that develops, manufactures, and sells vaccines, medications, diagnostics, and more for companion and livestock animals.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company's business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) prescription growth and use of Librela, a pain treatment for dogs, was weakening following FDA safety warnings of serious neurological complications; (2) Simparica Trio, a preventative for fleas, ticks, and heartworm, was losing significant market share to a lower priced competitor; (3) the company's dermatological products, specifically Apoquel and Cytopoint, were also losing market share to competition; and (4) as a result of the foregoing, Defendants' statements about the company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Why did Zoetis's Stock Drop?
On May 7, 2026, Zoetis reported its 2026 first quarter financial results which showed significant decline across its Companion Animal business. On this news, Zoetis's stock price fell 21.5%.
WHAT ZTS INVESTORS CAN DO NOW:
File to be lead plaintiff by July 27, 2026. Contact KTMC for a free case evaluation. All representation is on a contingency fee basis, there is no cost to you. Retain counsel of choice or take no action. THE LEAD PLAINTIFF PROCESS FOR ZOETIS INC. INVESTORS:
Zoetis investors may, no later than July 27, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages Zoetis investors to contact the firm for more information.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP (KTMC):
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal's Plaintiff's Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group's Honor Roll of Most Feared Law Firms, The Legal Intelligencer's Class Action Firm of the Year, Lawdragon's Leading Plaintiff Financial Lawyers, and Law360's Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com. The complaint in this matter was not filed by KTMC.
CONTACT:
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected]
May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
Western Digital stock is among today’s weakest performers. Why are WDC shares down? Chinese Memory Giant CXMT’s Monster IPO Filing Spooks the SectorA listing date has not been set but investor subscriptions are scheduled for Thursday.
CXMT’s IPO Lands Amid Intensifying US-China ScrutinyDRAM chips, which handle short-term data storage in computers and servers, have been in acute demand from AI developers, creating supply pressure that has pushed prices sharply higher and drawn Apple to lobby the U.S. government for permission to purchase CXMT chips despite the company’s Pentagon blacklist status over alleged ties to China’s military.
WDC’S Big Picture is Still Up — But the Near-Term Tape is in a ResetZoom out and the longer‑term trend is still hard to argue with. WDC is up 659.71% over the past 12 months and sits 66% above its 200‑day SMA, which is the profile of an extended bull market rather than a broken one. The golden cross, with the 50‑day SMA above the 200‑day SMA, keeps the primary trend bias constructive.
Technically, the market has drawn the lines:
Key Resistance: $602.50, the nearby ceiling where any rebound must prove it can repair the short‑term trend Key Support WDC Shares Are TumblingWDC Price Action: Western Digital shares were down 9.24% at $511.26 at the time of publication on Wednesday, according to Benzinga Pro.
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Best Buy Co Inc (NYSE:BBY)'s early bet on RGB TV is starting to pay off, Jefferies says, pointing to rising site traffic and social media buzz as signs the retailer is building consumer awareness of the emerging technology.
Jefferies analysts flagged that Best Buy holds exclusive rights to sell RGB TVs during the technology's first 12 months on the market, a head start that's translating into real search and traffic advantages.
RGB TV, also called Micro RGB, is a new TV backlight technology, pioneered by Samsung, that uses thousands of tiny individually controlled red, green, and blue LEDs behind the screen instead of the blue LED-with-phosphor or Mini LED setups used in conventional TVs.
In June, BestBuy.com captured visits from one in four consumers searching "RGB TV," up from 19% in May and 4% in April, making it the top retail destination for shoppers researching the technology, well ahead of the next-closest retail site at just 1%.
Digital creators are helping fuel that awareness: tech influencer Andrew Bond's July 13 video from a Best Buy store praising Samsung's Micro RGB TV drew about 2 million views in 24 hours, while lifestyle creators Brooke Mason and @lifewithcina posted similar videos name-checking Best Buy that pulled in tens of thousands of views apiece.
Jefferies estimates Best Buy holds roughly 33% market share in the TV category, a position the firm views favorably given the timing. The analysts note that US TV sell-through has been growing at a solid pace in recent weeks, and they see a major replacement cycle building as televisions purchased during the pandemic approach the end of their useful life.
Looking at the broader picture, Jefferies estimates about 13 million US TVs sold between 2020 and 2021 were the result of pandemic-driven pull-forward demand. With an average useful life of about six and a half years, the firm believes a first, smaller wave of replacement purchases has already begun, with the bulk of that replacement cycle still ahead in 2027 and 2028.
DALLAS--(BUSINESS WIRE)--Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today declared a quarterly cash dividend of $0.03 per share on its common stock, payable August 10, 2026.
The dividend is payable to stockholders of record as of July 28, 2026.
About Celanese
Celanese is a global leader in chemistry, producing specialty material solutions used across most major industries and consumer applications. Our businesses use our chemistry, technology and commercial expertise to create value for our customers, employees and shareholders. We support sustainability by responsibly managing the materials we create and growing our portfolio of sustainable products to meet customer and societal demand. We strive to make a positive impact in our communities and to foster inclusivity across our teams. Celanese Corporation is a Fortune 500 company that employs more than 11,000 employees worldwide with 2025 net sales of $9.5 billion.
DALLAS--(BUSINESS WIRE)--Texas Pacific Land Corporation (NYSE: TPL) (the “Company”) announced today that the Company will release second quarter 2026 financial results after the market closes on Wednesday, August 5, 2026. A conference call will be held on Thursday, August 6, 2026 at 10:30 a.m. Eastern Time.
Webcast:
A webcast of the conference call will be available on the Investors section of the Company’s website at www.texaspacific.com. To listen to the live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register and install any necessary audio software.
To Participate in the Telephone Conference Call:
Dial in at least 15 minutes prior to start time:
Domestic: 1-877-407-4018
International: 1-201-689-8471
Conference Call Playback:
Domestic: 1-844-512-2921
International: 1-412-317-6671
Pass code: 13759099
The playback can be accessed through Thursday, August 20, 2026.
About Texas Pacific Land Corporation
Texas Pacific Land Corporation is one of the largest land and royalty owners in the State of Texas, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its land and royalty ownership provides revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of the Company’s land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from the Company’s oil and gas royalty interests, and revenue related to saltwater disposal on the Company’s land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits principally related to a variety of land uses including, but not limited to, midstream infrastructure projects and hydrocarbon processing facilities.
U.S. Securities and Exchange Commission declares Form S-1 registration statement effective; trading expected to begin Thursday, July 16, 2026, through a direct listing
ATLANTA--(BUSINESS WIRE)--QumulusAI, a neocloud infrastructure provider purpose-built for the AI computing era, today announced that it expects its common stock to begin trading tomorrow, Thursday, July 16, 2026, on the Nasdaq Global Market under the ticker symbol “QMLS.” The direct listing follows the U.S. Securities and Exchange Commission declaring the company's registration statement on Form S-1 effective on July 14, 2026.
QumulusAI to Begin Trading Tomorrow on the Nasdaq Global Market Under Ticker Symbol “QMLS”
Share "Listing on the Nasdaq marks a transformative milestone for QumulusAI as we enter our next phase of growth," said Michael Maniscalco, CEO of QumulusAI. "We believe AI demand continues to outpace infrastructure supply, and we designed our hyperspeed and capital-efficient model to close that gap. This direct listing provides us with the platform to scale available infrastructure, engage with a broader investor base and continue delivering accelerated compute to the enterprises building the future of AI."
Chardan Capital Markets LLC is acting as the company’s financial advisor in connection with the direct listing.
New investor materials, including a comprehensive investor presentation outlining the company's business model, are available on QumulusAI's recently launched investor relations website at investors.qumulusai.com.
About QumulusAI
QumulusAI is a distributed AI cloud platform that delivers accelerated access to high-performance GPU compute. Through an inference-first, demand-led deployment model across a network of data center sites, QumulusAI brings compute closer to customer demand, helping AI teams and enterprises scale production AI workloads with speed, flexibility and control. By combining rapid deployment with flexible private cloud infrastructure, QumulusAI gives customers a faster, more adaptable path beyond the capacity constraints of traditional centralized and hyperscale cloud models. Learn more at QumulusAI.com.
Follow us on LinkedIn and X @QumulusAI.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expected commencement of trading of the company’s common stock on the Nasdaq Global Market on July 16, 2026, the company’s growth, AI demand, and the company’s ability to scale available infrastructure, engage with a broader investor base and continue delivering accelerated compute to the enterprises building the future of AI. Words such as “anticipate,” “believe,” “estimate,” “expect,” “guidance,” “intend,” “may,” “on track,” “plan,” “project,” “target,” “will” and similar expressions are intended to identify forward-looking statements. These statements are based on management’s current expectations and assumptions as of the date of this release and are subject to risks and uncertainties that could cause actual results to differ materially, including, among others, the company’s dependence on a limited number of large customers; the availability and cost of power, network connectivity and specialized hardware such as graphics processing units; the company’s substantial capital requirements and access to financing; competition and rapid technological change in the high-performance computing and AI markets; the company’s limited operating history and history of net losses; and those described in the “Risk Factors” section of the company’s registration statement on Form S-1, as amended (File No. 333-292514), filed with the U.S. Securities and Exchange Commission (SEC), as such factors may be updated in the company’s subsequent filings with the SEC. QumulusAI undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law.
GREENSBORO, N.C., July 15, 2026 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, will distribute fiscal 2027 first quarter financial results at approximately 4:00 p.m. (ET) on Tuesday, July 28, 2026. The press release will be available on the Company's Investor Relations website at the following URL: https://ir.qorvo.com (under “Financial Releases”).
Given Qorvo's pending transaction with Skyworks, Qorvo has discontinued conducting conference calls and providing forward-looking guidance.
About Qorvo
Qorvo (Nasdaq:QRVO) supplies innovative semiconductor solutions that make a better world possible. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers’ most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including automotive, consumer, defense & aerospace, industrial & enterprise, infrastructure and mobile. Visit www.qorvo.com to learn how our diverse and innovative team is helping connect, protect and power our planet.
Qorvo is a registered trademark of Qorvo, Inc. in the U.S. and in other countries. All other trademarks are the property of their respective owners.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions, and are not historical facts and typically are identified by terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "forecast," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations as of the date the statement is first made, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We caution you not to place undue reliance upon any such forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under U.S. federal securities laws. Our business is subject to numerous risks and uncertainties, including those relating to fluctuations in our operating results on a quarterly and annual basis; our substantial dependence on developing new products and achieving design wins; our dependence on several large customers for a substantial portion of our revenue; a loss of revenue if defense and aerospace contracts are canceled or delayed; our dependence on third parties; risks related to sales through distributors; risks associated with the operation of our manufacturing facilities; business disruptions; poor manufacturing yields; increased inventory risks and costs, due to timing of customers' forecasts; our inability to effectively manage or maintain relationships with chipset suppliers; our ability to continue to innovate in a very competitive industry; underutilization of manufacturing facilities; unfavorable changes in interest rates, pricing of certain precious metals, utility rates and foreign currency exchange rates; our acquisitions, divestitures and other strategic investments failing to achieve financial or strategic objectives; our ability to effectively execute restructuring initiatives; our ability to attract, retain and motivate key employees; warranty claims, product recalls and product liability; changes in our effective tax rate; enactment of international or domestic tax legislation, or changes in regulatory guidance; changes in the favorable tax status of certain of our subsidiaries; risks associated with social, environmental, health and safety regulations, and climate change; risks from international sales and operations; economic regulation in China; changes in government trade policies, including imposition of tariffs and export restrictions; we may not be able to generate sufficient cash to service all of our debt; restrictions imposed by the agreements governing our debt; our reliance on our intellectual property portfolio; claims of infringement of third-party intellectual property rights; security breaches, failed system upgrades or regular maintenance and other similar disruptions to our IT systems; theft, loss or misuse of personal data by or about our employees, customers or third parties; open source software risks, including risks related to licensing and security; compliance with evolving data privacy and cybersecurity laws and regulations; provisions in our governing documents and Delaware law may discourage takeovers and business combinations that our stockholders might consider to be in their best interests; negative impacts from activist stockholders; volatility in the price of our common stock; risks and uncertainties relating to the Mergers, including the occurrence of any event, change or other circumstance that could give rise to the right of us or Skyworks to terminate the Merger Agreement; the outcome of any legal proceedings that may be instituted against us or Skyworks in connection with the Mergers; the possibility that the Mergers do not close when expected or at all because of required regulatory or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that seeking or obtaining such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Mergers); that efforts to complete the Mergers may affect our business relationships with our existing and potential customers, suppliers, service providers and other business partners; that the expected synergies from the Mergers may not be fully realized or may take longer to realize than anticipated; any failure to promptly and effectively integrate the businesses of the Company and Skyworks; and that the Mergers may divert management’s attention and time from ongoing business operations and opportunities. These and other risks and uncertainties, which are described in more detail under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended March 28, 2026, and Qorvo’s subsequent reports and statements that we file with the SEC, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.
At Qorvo®
Doug DeLieto
VP, Investor Relations
1-336-678-7968
Zcash is currently hovering at $570, with a 12% jump. ZEC’s long-term macro trend is controlled by the bulls. Zcash (ZEC) has put up a 12.24% rise in value and is currently trading within the $570 mark. It has been riding a clean ascending channel, respecting every higher low along the way. Notably, it’s a sign that buyers are consistently stepping in at higher prices, which is what a healthy uptrend is primed for.
On top of that, Zcash is printing a cup-and-handle breakout, one of the more reliable bullish continuation patterns in technical analysis. Moreover, the bulls are eyeing the upper channel boundary near $580 as the immediate target.
Beyond that, the setup points to the $700 range if the momentum holds. But the $540 level would be a key support that needs to hold for this bullish structure to stay. A breakdown below this zone risks completely erasing recent gains and sending the ZEC price back to retest previous lows.
The short-term price outlook of the ZEC/USDT trading pair reports a bullish presence. It may test the crucial resistance at around $573.64. With an extended upside pressure, the golden cross could take place, and the bulls would likely drive the price above $577.
On the flip side, upon a bearish reversal in the Zcash market, the price could instantly fall to the support range at $567.11. Further correction on the downside might initiate the formation of the death cross, and the asset’s price would plunge below $563.
Zcash Flashes Bullish Signals: Will the Recovery Clear Key Resistance? Zooming in on the technical chart, the MACD line has crossed and held above the signal line, indicating that short-term buying is aggressively accelerating. As both lines are above the zero line, the long-term macro trend is firmly controlled by the bulls.
This is a strong buy-and-hold or momentum-continuation signal. It shows that ZEC’s upward trend has strong underlying strength. Also, it may make a sudden reversal highly unlikely in the immediate term.
Furthermore, the daily RSI reading of Zcash staying at 71.40 confirms that it has entered the overbought zone. The buying force has pushed the price up too fast, moving it above the standard 70-ceiling.
The momentum is stretched thin, with the probability of a period of consolidation is high as the early buyers begin to take profits. Therefore, entering new buy positions at this level is high-risk.
Crypto Market Highlights
Solana (SOL) Flashes Its First SuperTrend Buy Signal: Can Bulls Push Higher?
Content Writer | Crypto Enthusiast | Bridging Literature and Blockchain
In this patch of your weekly Dispatch:Altcoins round-upApple’s stock recordBitcoin’s starting recovery?Market cast
BTC: Bullish momentum buildsBitcoin's weekly chart is showing bullish momentum developing. Price has moved back above the 200-period SMA, a key long-term trend indicator. The RSI, a momentum oscillator, sits in neutral territory, while the Stochastic, another momentum oscillator, has crossed above the 20-level threshold – a move that could signal a trend reversal. The MACD, a trend and momentum indicator, has its signal lines edging close to a bullish crossover, adding to the constructive tone.
The daily chart tells a similarly bullish story. Price has crossed above the 50-period SMA and is now heading toward the upper Bollinger Band – a volatility indicator. RSI remains neutral, and while the Stochastic lines sit in overbought territory, they show no signs of fading momentum. The MACD histogram, meanwhile, sits comfortably in positive territory – all pointing to bullish momentum across both timeframes.
Key levels to watch: On the downside, immediate support sits around $62,000, with the next significant zone near $58,000–$59,000; the daily middle Bollinger Band could also serve as dynamic support. To the upside, the first resistance comes in around $65,000, followed by $67,000.
The big idea
Bitcoin's CPI moment: Macro comes back into focusTime and again this year, Bitcoin has gone looking for a catalyst, only to run headlong into geopolitics instead. Every attempt at a clean, rates-driven story got knocked off course by fresh friction out of the Middle East. Tuesday’s US CPI report gave Bitcoin a real one — and a friendly one at that.
June's headline inflation cooled sharply to 3.5% annually, well below the 3.8% consensus and down from 4.2% in May, with prices actually falling 0.4% on the month — the largest one-month drop since April 2020, and well past the mild 0.1% decline economists had expected. Core CPI told the same story: flat month-over-month against expectations for a rise, pulling the annual core rate down to 2.6% from 2.9% — a much bigger step toward the Fed's target than anyone had priced in.
That's not the "calm, in-line" outcome the market had been bracing for — it's a genuine downside surprise, and Bitcoin treated it as one. BTC quickly reacted by reaching toward $64,000 right after the release, climbing roughly 1% from around $62,800.
The bigger story is what it did to rate expectations. Markets are now pricing an 83% chance the Fed holds rates steady at the July 28–29 meeting, versus just 17% odds of a hike — a sharp reversal from the mood following Governor Waller's hawkish comments last week, when a hike looked like a live possibility. With a rate hike now largely off the table, one of the biggest overhangs on Bitcoin this year has meaningfully eased.
There's backup from other corners of the analyst community too. Standard Chartered reiterated its $100,000 year-end Bitcoin target this week, calling current levels near $64,000 "a screaming buy." Bitwise strikes a similar note, arguing the industry is twice the size it was at the last cycle's bottom despite bear-market prices, and flagging July's historically strong seasonality — Bitcoin has averaged a 10.7% gain in the month — as another reason for optimism. CryptoQuant adds to that seasonality case: in past bear-market years like 2018 and 2022, Bitcoin rallied roughly 17-20% in July alone, with the firm noting early signs that demand is already re-igniting off the recent lows. The on-chain picture backs up that optimism as Nexo analyst Dessislava Ianeva notes that spot selling pressure has faded. More on that in this week’s data story below.
If the last two issues were about regulatory clarity, this week looks like it's shaping up to be about macroeconomic clarity instead. Tuesday’s numbers make that label easier to defend: a clean downside surprise on both headline and core inflation, paired with rate-hike odds falling to just 17%, removes a real source of uncertainty rather than simply confirming expectations. That said, new Fed Chair Kevin Warsh struck a notably hawkish tone in his first Congressional testimony the same day, insisting the Fed has "no tolerance" for persistently high inflation and pushing back on any expectation of a policy pivot. One cool print hasn't changed the Fed's messaging, even if it's changed the market's odds. It's still one data point, and Bitcoin will likely keep reacting to whatever comes out of the Gulf too — but rates just handed the market a genuinely bullish tailwind to work with.
Bottom line: June inflation came in well below expectations on every measure, and the Fed now looks unlikely to hike this month — a clear, dovish surprise that gives Bitcoin's macro-driven recovery case its best data point yet, with BTC quickly reacting toward $64,000 right after the release.
Blue chips
Ethereum outperforms as its next chapter comes into focusETH was one of the better performers recently, up over to roughly $1,770 at the start of the week, as Bitcoin held firm above $63,000. That put it ahead of most majors, and it came despite wobbly AI stocks and a stronger dollar – two things that usually drag crypto down with them. Ethereum didn't just hold up; it led the pack.
The timing is fitting. Vitalik Buterin just dropped his vision for "Lean Ethereum", a multi-year rebuild he's calling the network's third major era – right up there with the Merge. The headline: a data storage redesign that could slash fees for everyday tokens and apps by 10x or more, no rewrites required. Quantum resistance and privacy are also getting fast-tracked as core priorities, not afterthoughts. Put together, it's a good reminder that Ethereum's momentum isn't only about price – there's real groundwork being laid for the next decade.
TradFi trends
Apple reaches ATH on AI memoryWhile Bitcoin watches the Fed, Apple is riding a different macro story — and it's paying off. Shares hit an all-time high on July 13, closing at $317.31 (a $4.7 trillion market cap), as an AI-driven memory chip shortage splits the smartphone market in two.
The cause: memory chips now cost nearly triple last year's price, as hyperscalers buy up supply for AI training. That's gutted margins for budget phone makers while barely touching Apple, which locked in supply early. Global smartphone shipments fell 6.7% last quarter, but Apple's grew 15.3% — best in years, alongside Samsung as the only other top-five vendor to grow. Institutions had already positioned for it, adding roughly 1.24 billion shares ahead of the rebound. The open question: with the memory crunch expected to run into 2028, whether buyers keep absorbing Apple's rising costs — a test the July 30 earnings print should help answer.
The week's most interesting data story
Bitcoin’s clearest signs of recovery?This week's chart adds a useful data point to the macro story: the market may be working through its last bit of overhand supply. A key on-chain metric — the share of realized value coming from longer-term holders adjusting their positions, recently reached its highest level since December 2022. In practice, this reflects holders who've been through months of drawdown finally deciding to move on, a pattern that has historically shown up in the later stages of a market finding its footing rather than at the start of a fresh leg down.
That matters because this kind of activity tends to be one of the last steps in a market working through excess supply. Once that cohort finishes repositioning, there's less overhead pressure weighing on price, which can set the stage for a steadier recovery.
The numbers
The week’s most interesting numbers$200,000 — A solo miner's payout from hitting a Bitcoin block with a hobbyist-grade Bitaxe, running just ~1 terahash per second for eight hours.
$50.85 billion — Cumulative net inflows into US spot Bitcoin ETFs since launch, a milestone that's held even through a choppy July.
$10.5 billion — Bitmine Immersion's ether treasury value, now the largest corporate ether stash and second only to Strategy's bitcoin position globally.
$3 billion — Strategy's USD reserve balance after a $450 million boost last week — funded via share sales, with its 843,775 BTC treasury untouched.
Hot topic
What the community is discussingFOMO time for XRP?
There is no stopping the long-term HODLER.
The power of Bitcoin as collateral.
Dispatch is a weekly publication by Nexo, designed to help you navigate and take action in the evolving world of digital assets. To share your Dispatch suggestions and comments, email us at [email protected].
New operational data highlights the Humanitarian Payments Council's momentum ahead of its Washington, D.C. summit.
DOVER, Del., July 15, 2026 /PRNewswire/ -- The Algorand Foundation today shared new progress from its Humanitarian Payments Council, marking a shift from pilot projects to institutional-scale deployments. Convening today in Washington, D.C. to build on the foundations laid during their September meeting in Berlin, Council members are highlighting a major expansion of blockchain-backed aid delivery in high-stakes environments.
Most notably, according to UNHCR, the UN Refugee Agency, it has scaled its use of reloadable cards through HesabPay, the Algorand-powered payments platform, to support more than 625,000 refugee returnees and over 17,500 internally displaced people in Afghanistan, with more than $35 million in assistance. This operational milestone reflects the network's ability to support large-scale aid disbursement in a live deployment and provide secure, immediate financial empowerment in regions where traditional banking infrastructure is absent or limited.
"Blockchain-powered payment infrastructure that is locally connected, globally compliant, and fully traceable has the potential to strengthen trusted aid delivery. The next step is continued collaboration to expand reliable digital financial ecosystems that can help deliver humanitarian assistance more securely, efficiently, and transparently for donors, regulators, and forcibly displaced people and communities alike," said Carmen Hett, Corporate Treasurer at UNHCR.
"The progress achieved since our Berlin meeting is clear evidence that tokenized aid is moving from a novelty to a practical, scalable option for global aid delivery, particularly in economically distressed countries where traditional banking infrastructure is virtually nonexistent," said Matt Keller, Head of Impact at the Algorand Foundation. "By scaling our work with UNHCR and HesabPay to reach over 600,000 returnees in Afghanistan, we are showing the international community that blockchain-based aid can deliver speed, transparency, and cost-efficiency where traditional infrastructure is limited."
This operational progress serves as the backdrop for the Humanitarian Payments Council meeting taking place this week in Washington, D.C. The event convenes international humanitarian agencies, financial institutions, fintech providers, and policymakers to discuss scalable frameworks for global humanitarian stablecoin deployments.
About Algorand
Algorand is a public layer-1 blockchain built for financial empowerment. Algorand offers tools to move money across borders, issue and manage assets, verify identity, and develop services that rely on dependable performance and instant settlement. Developers and organizations use Algorand to create practical tools for payments, identity, asset tokenization, public records, and other financial services. Algorand's all-in-one blockchain infrastructure powers financial apps that are easy to build, simple to use, and unlock economic opportunity for users.
Today, the Algorand ecosystem spans startups, developers, governments, and global partners building real-world financial and digital asset solutions. With Algorand, you decide where your money lives, how it moves, and who can access it. To learn more and join the financial empowerment movement, visit algorand.co.
Disclaimer: This press release is provided for informational purposes only. The information is provided by the Algorand Foundation and, while we strive to keep it accurate and current, we make no representations or warranties of any kind, express or implied, as to its completeness, accuracy, reliability, or suitability for any purpose. Nothing in this release constitutes legal, financial, tax, or investment advice, nor an endorsement, guarantee, or investment recommendation. References to third parties, including any organizations, agencies, products, or platforms, are for informational purposes only and do not imply any endorsement, affiliation, or partnership beyond what is expressly stated. All third-party names and trademarks are the property of their respective owners. Operational figures reflect information available as of the date of this release and may be subject to revision. Any statements regarding future plans, integrations, deployments, or timelines are forward-looking and subject to change. The Algorand Foundation undertakes no obligation to update these statements except as required.
We recently closed out of our position in Terreno (TRNO) and wanted to walk readers through our thought process and how we look at the company today.
The REIT Forum
We sold shares on 7/9/2026. For readers interested, we will post all the sales at the end of the article.
Seeking Alpha
Before we sold, Terreno was flirting with the border between our neutral/overpriced ranges. Shares were trading at 31.4x consensus forward AFFO. Technically, it’s probably a little bit lower if we factor in that Q2 2027 AFFO per share will probably be higher than Q2 2026 AFFO per share. However, even adjusting for higher AFFO, the multiple would still be very large.
July 9th Thought Process Terreno has been one of my favorite REITs for several years. I viewed it as a great long-term position. However, I am looking at shares trading over 30x forward AFFO while the 2-year Treasury is over 4% (4.16% presently), the 10-year is at 4.535%, and the 30-year is at 5.054%. I’m feeling a bit skeptical about multiples around 30x AFFO (or higher) in this environment. If we assume that REITs with more “normal” growth levels typically trade around 14x to 20x AFFO, then we have to assume several years of strong growth. While that’s certainly possible, I wouldn’t want to use it as the base scenario.
AFFO Estimates And Multiple Our sheets are currently using a forward estimate of $2.19.
If we were to use AFFO estimates for the next 4 quarters starting with Q3 2026, then the consensus estimate would increase to $2.25. That’s better, but not substantially better.
Even if we use the $2.25 value, at $68.68 shares would be trading a hair over 30.5x forward AFFO estimates.
If we use $2.18 or $2.19, the multiple is 31.36x or 31.50x, respectively.
That’s a pretty high multiple given the Treasury yields. While I still really like TRNO, I felt it was prudent to harvest gains here.
The REIT Forum
Note: TRNO has rallied even higher since we closed our position. As of 7/15/2026, shares are at $72.09.
Why TRNO Can Achieve A High Multiple Our thesis played out well with the industrial real estate portfolio delivering strong growth in same property NOI (Net Operating Income). That drove significant growth in AFFO per share, which supports TRNO trading at pretty high multiples of AFFO per share. The market likes seeing strong growth across several key indicators. However, the valuation still hit a point where I felt it was prudent to just take the gains.
Issuing Shares TRNO was issuing equity during Q1 2026:
TRNO
They felt it was reasonable to issue it at $64.85, and I agree with them. That was a very reasonable price for choosing to issue new equity. Issuing at $68.68 (5.9% higher) would make even more sense. That’s the right choice for management as they look to maximize value for shareholders.
Impact Of Treasury Rates The last time I purchased TRNO was in 2023 at $62.99. That’s not dramatically lower than the current price. The AFFO multiple was similar. What changed?
Well, the interest rate scenario changed quite a bit as shown by the 10-year and 30-year Treasury rates:
MBSLive
MBSLive
The 10-year Treasury yield is up 60 basis points (that means 0.60%) and currently trending higher (based on the current yield relative to the moving averages). The 30-year is up just over 100 basis points and also in a trend higher.
That feels ugly. It’s been less of an issue for TRNO since they have such little debt on their balance sheet. Consequently, they have been less exposed to interest rate pressure than most equity REITs. However, it makes it harder to justify high multiples.
Adjusted EBITDA/Total Enterprise Value Doing a full model for “Market Implied Cap Rate” is pretty slow. In theory it seems like it would be quick to update, but in practice it can get messy doing quarter after quarter.
A simpler method is calculating adjusted EBITDA to Total Enterprise Value. It is less precise (which is negative), but it factors in overhead (which is positive).
Total Enterprise Value = Market value of equity + total debt + preferred stock + minority interest - cash and near-cash items.
Often there won’t be preferred stock or minority interest, which makes it even simpler.
The bigger question is simply which version of EBITDA we want to use. Do we use the most recent quarter? Do we try to run a forward estimate? Sometimes the answers matter a great deal, and sometimes they don’t. In this case, the picture is pretty clear regardless. One adjustment I really like to make, though, is to revise “adjusted EBITDA” by deducting stock-based compensation. That’s fundamentally overhead by another name.
Goal Of Calculation This is a way to approximate the amount of adjusted EBITDA the company is producing relative to the total value assigned to the company.
It can be a quick way to compare REITs. However, investors should be aware that all REITS do not simply deserve to trade at the same valuation. That would be silly. Some properties are simply more desirable, and some management teams are superior. For now I’m simply going to refer to adjusted EBITDA minus stock-based compensation as “revised EBITDA.” I wanted to compare TRNO with Rexford (REXR).
Using Q1 2026, I came to the following estimates when removing stock-based compensation:
TRNO at $68.62 has a revised EBITDA yield of 3.96%. This is why it makes sense for TRNO to issue shares.
REXR at $34.42 has a revised EBITDA yield of 6.12%. This is why it makes sense for REXR to repurchase shares.
Note: We don’t want to use growth rates in adjusted EBITDA or revised EBITDA unless we control for the expected change in the shares outstanding and net debt outstanding.
That’s the gap in valuation. It is very material.
Hypothetically, what if REXR climbed all the way to our “overpriced” level? The revised EBITDA yield would drop from 6.12% to 4.79%.
Final Thoughts I expect that TRNO will do a better job (than REXR) of growing every metric over the next year or two. However, I don’t expect it to be remotely large enough to offset the enormous gap in these valuation metrics.
We currently view TRNO as overpriced despite the company's strong execution. Even after our sale, shares continued climbing. We'll continue watching the company closely because it's still one of my favorite REITs. I simply don't like today's valuation. Here is the record of our sale:
[url="]Dynatrace (NYSE: DT)[/url], the leading AI-powered observability platform, today announced that Gartner has named it a Leader in the [url="]2026 Magic Q
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Coursera, Inc. (NYSE: COUR), a leading global online learning platform, today announced it will release its financial results for the second quarter ended June 30, 2026 after the U.S. stock market closes on Wednesday, July 29, 2026. The company will issue the results via a press release with accompanying consolidated financial information before holding a conference call broadcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).
Conference Call Details
A live, audio-only webcast of the conference call and earnings release materials will be available to the public on the company’s investor relations website at investor.coursera.com. An archived replay will be accessible in the same location for one year.
Disclosure Information
In compliance with disclosure obligations under Regulation FD, Coursera announces material information to the public through a variety of means, including filings with the Securities and Exchange Commission (“SEC”), press releases, company blog posts, public conference calls, and webcasts, as well as via Coursera’s investor relations website.
About Coursera
Coursera was launched in 2012 by Andrew Ng and Daphne Koller with a mission to provide universal access to world-class learning. Coursera partners with leading university and industry partners to offer a broad catalog of content and credentials, including courses, Specializations, Professional Certificates, and degrees. Coursera’s platform innovations — including AI-powered personalized guide and features, like Role Play and Course Builder, and role-based solutions like Skills Tracks — enable instructors, partners, and companies to deliver scalable, personalized, and verified learning. Institutions worldwide rely on Coursera to upskill and reskill their employees, students, and citizens in high-demand fields such as GenAI, data science, technology, and business, while learners globally turn to Coursera to master the skills they need to advance their careers. Coursera is a Delaware public benefit corporation and a B Corp. Coursera recently combined with Udemy to create one of the world’s most comprehensive skills development platforms.
