Market Signal Briefing

Key NotesADGM approves USDT as Accepted Fiat-Referenced Token on nine additional blockchain networks for regulated use.The recognition follows October 2024 initial approval and months of compliance collaboration with FSRA.Tether strengthens Middle East strategy with plans for AED-pegged stablecoin and UAE real estate partnerships.
Tether announced that its USDT stablecoin has been officially recognized as an Accepted Fiat-Referenced Token (AFRT) by the Abu Dhabi Global Market (ADGM) for use on multiple blockchains, including Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON. The approval allows ADGM-authorized entities to conduct regulated activities involving USDT across these networks.

This recognition expands upon ADGM’s earlier approval, which covered USDT on Ethereum, Solana, and Avalanche. With this extension, USDT is now approved across nearly all major blockchains it operates on, strengthening its global compliance profile.

Tether’s USD₮ Recognised as Accepted Fiat-Referenced Token in Abu Dhabi’s ADGM for Use on Several Major Blockchains
Learn more: https://t.co/PKmF7w5aUx

— Tether (@Tether_to) December 8, 2025

ADGM’s Role in The New Global Digital Finance
Abu Dhabi Global Market (ADGM) serves as an international financial center and a key regulatory hub for digital assets in the United Arab Emirates. ADGM’s Financial Services Regulatory Authority (FSRA) oversees the licensing and supervision of virtual asset activities, aiming to combine innovation with strong compliance and investor protection.

The approval follows months of collaboration between Tether and FSRA, showcasing Tether’s efforts to align with ADGM’s compliance and transparency standards. Paolo Ardoino, CEO of Tether, said the decision demonstrates both entities’ commitment to advancing financial inclusion and innovation through regulated digital assets, according to their announcement.

This Expansion Follows Earlier Recognition From 2024
Tether first secured regulatory recognition within ADGM in October 2024, when USDT was acknowledged as a virtual asset under the jurisdiction’s framework. This latest multi-chain approval is a continuation of that process, broadening the token’s reach and regulatory acceptance.

USDT now joins another five stablecoins already listed as an Accepted Fiat-Referenced Token under the FSRA’s official AFRT list as of November 2025, reflecting growing institutional acceptance of stablecoins in the region’s financial markets.

Graph of the market share of USDT among all the stablecoins | Source: DefiLlama

Strengthening Tether’s Regional Strategy
Tether’s continued engagement with ADGM aligns with its broader expansion strategy in the Middle East. In addition to USDT’s recognition, the company announced in 2024 plans to issue a new stablecoin pegged to the UAE dirham (AED), underscoring its intention to integrate closely with the region’s financial systems. Currently, they don’t make any other announcements about this project.

In 2025, Tether partners with Reelly Tech to accelerate the stablecoin transactions of the UAE real estate industry. The ADGM’s new decision enhances interoperability across blockchain networks and creates new settlement opportunities for regulated institutions and decentralized applications. As the UAE continues to shape clear policies for digital assets, Tether’s cooperation with regulators positions it advantageously in one of the world’s most active fintech jurisdictions.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Tether (USDT) News, Cryptocurrency News, News

José Rafael Peña Gholam is a cryptocurrency journalist and editor with 9 years of experience in the industry. He wrote at top outlets like CriptoNoticias, BeInCrypto, and CoinDesk. Specializing in Bitcoin, blockchain, and Web3, he creates news, analysis, and educational content for global audiences in both Spanish and English.

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An analyst poured cold water on the company's positive recent earnings report.

Shares of Marvell Technology (MRVL 7.47%) fell as much as 10.1% on Monday, before recovering to a 7.5% decline as of 12:46 p.m. EDT.

The company reported better-than-expected third-quarter earnings last week, leading to a rise; however, one analyst threw cold water on the recent jump today, raising the perennial question of whether Marvell has lost a custom XPU contract for Amazon's (AMZN 1.11%) next-gen Trainium chips.

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Benchmark downgrades Marvell based on Trainium 3 and 4 fears
Today, sell-side research analysts at Benchmark downgraded Marvell to a "Hold" rating from "Buy," while withdrawing a specific price target.

The reason for the downgrade, according to analyst Cody Acree, is that Benchmark has gained a, "high degree of conviction" that Marvell has lost the custom XPU business for Amazon's upcoming Trainium 3 and 4 chipsets to Asian rival AIchip.

Supplying custom XPU parts for hyperscalers' self-designed AI chips has been a significant factor in Marvell's stock rise in recent years. And Marvell's custom XPU business has been dominated by Amazon as the company's largest customer by far.

Marvell doesn't break out its XPU or "XPU attach" business separately, but rather groups it with its Data Center segment, which also includes Marvell's data center networking technology.

On the recent third-quarter earnings release, the Data Center segment grew a solid 38%, and Marvell gave even more good news. Management said it expects 25% Data Center growth in the next fiscal year, then an acceleration to 40% growth the following year. That outlook was above expectations, and the forecast for an acceleration in fiscal 2028 actually prompted other analysts to raise their price targets on Marvell. For instance, while Benchmark downgraded the stock, JP Morgan & Chase analyst Harlan Sur actually raised his price target on Marvell from $120 to $130 today, based on that guidance.

Still, Benchmark's Acree believes that growth will come from either the older Trainium 2 chips or perhaps from network-attach chiplets and other components, not the next-gen Trainium 4 custom XPU.

Image source: Getty Images.

Does it matter?
To a certain extent, as long as Marvell can hit the numbers it projected, it doesn't much matter if the company loses a certain product contract. However, the loss of future XPU chip modules could signify something more worrying regarding growth over the long-term, or indicate something about the Marvell's general competitiveness.

The hand-wringing over the Amazon contract has been an overhang on Marvell's stock this year, and there appears to be little willingness on the part of either Marvell or Amazon to publicly clarify details of their contract negotiations. So unfortunately, Marvell investors will likely have to tolerate this rumor mill for some time to come.

JPMorgan Chase is an advertising partner of Motley Fool Money. Billy Duberstein and/or his clients have positions in Amazon. The Motley Fool has positions in and recommends Amazon and JPMorgan Chase. The Motley Fool recommends Marvell Technology. The Motley Fool has a disclosure policy.

December 08, 2025 2:16 PM EST | Source: iMetal Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - December 8, 2025) - iMetal Resources Inc. (TSXV: IMR) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company) announces that it will offer (the "Offering") up to 4,000,000 flow-through units (each, an "FT Unit"), at a price of $0.13 per FT Unit, for gross proceeds of up to $520,000, by way of non-brokered private placement. Each FT Unit will consist of one common share of the Company, issued as a flow-through share within the meaning of the Income Tax Act (Canada), and one-half-of-one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase an additional common share of the Company at a price of $0.20 for a period of twenty-four months.

The Company anticipates the net proceeds raised from the Offering will be used to conduct exploration of the Company's Gowganda West Property, located in the Shining Tree Camp of the Abitibi Greenstone Gold Belt within Ontario.

The Company may pay finders' fees to eligible parties who have assisted in introducing subscribers to the Offering. All securities issued in connection with the Offering will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws. Completion of the Offering remains subject to receipt of regulatory approval.

Qualified Person

The technical content of the New Release has been reviewed and approved by R.Tim Henneberry, P.Geo. (BC), a director of the Company and a Qualified Person under National Instrument 43-101.

About iMetal Resources Inc.

iMetal is a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. The flagship property Gowganda West is an exploration-stage gold project with a recent discovery hole of 48.5m at 0.85 g/t gold that borders the Juby Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. The 220-hectare Ghost Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometres W of Agnico Eagle's Holt and Holloway Mine. Carheil is an exploration stage project with multi-metal potential and previous graphite results. The project is about 170 km north of Rouyn-Noranda in the Northern Abitibi Greenstone Belt.

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

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential", and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of iMetal to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the intended use of proceeds from the Offering. These forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277315

Paramount's hostile takeover bid just upended Netflix's big merger.

Just days after Netflix (NFLX 3.55%) and Warner Bros. Discovery (WBD +4.54%) agreed to a blockbuster $72 billion deal to buy most of the company's assets, there's now a twist.

Paramount Skydance (PSKY +7.26%), which was believed to be the original frontrunner, is going directly to shareholders with a hostile takeover offer. Paramount is offering a slightly higher price for the entire business, which includes cable channels like CNN and TNT and the Discovery business. The Netflix offer was for the film studios, including Warner Bros., HBO, and the HBOMax streaming service with the remainder of WBD being spun off into a separate entity.

Paramount is offering $30-a-share for the company, valuing WBD's equity at $77.9 billion, or $108 billion including debt. That compares to $27.75 a share that WBD would get from Netflix. The Paramount bid is also all cash, while Netflix had offered $23.50 in cash, with the remainder coming in stock.

Image source: Getty Images.

What it means for investors
The Paramount proposal further complicates a deal that was already expected to face significant regulatory scrutiny.

Investors should understand that both boards of directors have agreed to the Netflix deal, which is why Paramount is going directly to shareholders, who may get an opportunity to vote on the proposal.

Warner Bros. Discovery stock ticked higher on the news, trading up 4% in early afternoon trading. The gain isn't surprising, given the higher offer, and the takeover bid is a good sign for WBD shareholders, though even after the gain, it's still trading below Netflix's $27.75 offer. If WBD terminated the Netflix deal, it would have to pay Netflix a fee of $2.8 billion.

Netflix stock fell on the news, slipping 4%, which comes in addition to a 3% drop on Friday when the deal was announced, showing investors are unhappy for multiple reasons. WBD's takeover bid could further complicate the regulatory process for Netflix, which has already raised antitrust concerns. If WBD accepted the Paramount offer, Netflix could come back and offer more money for the business.

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Paramount stock, meanwhile, jumped on the news, trading up as much as 10% on Monday. The stock tumbled 10% on Friday as it was seen as the loser in the Netflix deal, but the takeover bid seems to be giving Paramount shareholders some hope.

Overall, it's hard to predict where this battle will go next as the stakes are high and the merger could change the future of Hollywood. Investors in all three of these stocks should expect more volatility. Even if Netflix emerges victorious, getting through the regulatory process won't be easy.

Tesla Inc (NASDAQ:TSLA) shareholders may not love hearing that the electric vehicle stock has lost one of its top analysts. Morgan Stanley has assigned a new analyst to cover the stock, and he comes in hot with a downgrade on the stock.

Tesla stock is among today’s weakest performers. What’s behind TSLA decline?
The Morgan Stanley Analyst: Morgan Stanley analyst Andrew Percoco has taken over coverage of the automotive sector, which was previously handled by Adam Jonas. Percoco announced several new ratings and price targets on stocks in the sector, including:

Tesla: new rating Equal-weight (down from Overweight), price target $425 (up from $410)
General Motors (NYSE:GM): new rating Overweight (up from Equal-weight), price target $90 (up from $54)
Lucid Group (NASDAQ:LCID): new rating Underweight (down from Equal-weight), price target $10 (down from $30)
Rivian Automotive (NASDAQ:RIVN): new rating Underweight (down from Equal-weight), price target $12 (in line with previous target)
Read Also: Tesla Q3 Highlights: Record EV Deliveries, Falling Profits, AI Ambitions Ahead

Morgan Stanley on Tesla: The electric vehicle giant was named the top automotive stock by Jonas for 2025. The analyst had held an Outperform rating since 2023 and had been bullish on many aspects of the company, including the new pay package for Tesla CEO Elon Musk.

Percoco has a different idea going forward, suggesting that the AI opportunity for the company is offset by automotive headwinds and a full valuation.

"With downside to consensus estimates driven by pressures in the auto business and catalysts for it non-auto business priced in at its current valuation, we assume coverage at Equal-weight with a $424 price target and wait for a better entry point," Percoco said.

The analyst said Tesla is a leader in electric vehicles, renewable energy, manufacturing, and real-world AI, which should give it a premium valuation.

"However, high expectations on the latter (AI) have brought the stock closer to fair valuation."

The analyst sees challenging catalysts for Tesla going forward, which could provide downside to estimates.

"We believe it will be increasingly challenging to support meaningful upside to Tesla shares barring an improvement, or at least stabilization, within its auto business."

Along with the base case price target of $425, Percoco has a bull case valuation of $860 and a bear case valuation of $145 on Tesla stock.

Morgan Stanley on General Motors: While Percoco sees Tesla stock less favorable than Jonas, the new automotive analyst for Morgan Stanley sees a brighter short-term future for General Motors.

"Over the course of the last year, GM made strides in realigning their capital allocation strategy with a more tempered EV and AV growth curve," Percoco said.

The analyst said General Motors could benefit from reduced policy uncertainty, the ending of EV tax credits, and reductions in emissions-related requirements.

"We expect GM to manage through with an appropriately re-aligned capital allocation strategy and refreshed product lineup highlighting strength in GM's core ICE trucks and SUVs."

Percoco said investors could see a "prolongation of ‘ICE is Nice' narrative" for traditional automakers.

"As a result of easing compliance requirements, OEMs can leverage consumer preference for higher-value ICE and hybrid vehicles."

A shift back to ICE vehicles by consumers in 2026 could be a tailwind for General Motors.

While neither company has completely abandoned its electric vehicle presence, changes to growth plans and focusing on ICE vehicles could pay off in the short term, according to Percoco.

Morgan Stanley on Auto Sector: The analyst expects electric vehicle volume to be down 20% year-over-year in the United States for 2026, painting a cautious outlook on the pure-play EV companies like Tesla, Rivian and Lucid.

The analyst forecasts ICE vehicle sales in the U.S. market to be up 1% year-over-year in 2026.

"Position your portfolio toward best in class operators that can navigate a slower industry outlook by allocating capital effectively with a strong execution track record (General Motors)," Percoco said.

The analyst warned investors to "be wary" of companies facing industry headwinds, such as EV deceleration.

GM, TSLA Price Action: General Motors stock is down 0.5% to $75.69 on Monday versus a 52-week trading range of $41.60 to $77.00. General Motors shares are up 47.3% year-to-date in 2025.

Tesla stock is down 3.6% to $438.84 on Monday versus a 52-week trading range of $214.25 to $488.54. Tesla shares are up 15.6% year-to-date in 2025.

Read Next:

General Motors, Ford Hit Record EV Deliveries In Q3: Tax Credit Expiration Or Lasting Growth?
Image created using artificial intelligence via Gemini.

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December 08, 2025 2:30 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - December 8, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Avantor, Inc. (NYSE: AVTR) between March 5, 2024 and October 28, 2025, both dates inclusive (the "Class Period"), of the important December 29, 2025 lead plaintiff deadline.

SO WHAT: If you purchased Avantor 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 Avantor class action, go to https://rosenlegal.com/submit-form/?case_id=47303 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. If you wish to serve as lead plaintiff, you must move the Court no later than December 29, 2025. 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 litigate 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, at that time, 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 hundreds of millions 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 lawsuit, defendants misrepresented and/or failed to disclose that: (1) Avantor's competitive positioning was weaker than defendants had publicly represented; (2) Avantor was experiencing negative effects from increased competition; and (3) as a result, defendants' representations about Avantor's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Avantor class action, go to https://rosenlegal.com/submit-form/?case_id=47303 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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277313

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December 08, 2025 2:37 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - December 8, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Stride, Inc. (NYSE: LRN) between October 22, 2024 and October 28, 2025, both dates inclusive (the "Class Period"), of the important January 12, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Stride securities 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 Stride class action, go to https://rosenlegal.com/submit-form/?case_id=30689 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 January 12, 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 litigate 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, at that time, 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 hundreds of millions 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 lawsuit, during the Class Period, defendants made misleading statements and omissions regarding Stride's products and services to public and private schools, school district, and charter boards. Throughout the Class Period, Stride represented to investors that "[t]hese products and services, spanning curriculum, systems, instruction, and support services are designed to help learners of all ages reach their full potential through inspired teaching and personalized learning." Unbeknownst to investors, Stride was inflating enrollment numbers, cutting staff costs beyond required statutory limits, ignoring compliance requirements, and losing existing and potential enrollments. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Stride class action, go to https://rosenlegal.com/submit-form/?case_id=30689 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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277281

SAN FRANCISCO, Dec. 08, 2025 (GLOBE NEWSWIRE) -- National shareholder rights law firm Hagens Berman reminds investors that the deadline to move the Court for appointment as lead plaintiff in the securities class action lawsuit against CarMax, Inc. (NYSE: KMX) is January 2, 2026.

The lawsuit alleges that CarMax and its executives provided materially false and misleading information by failing to disclose that the strong growth touted in Q1 2026 was merely a temporary, unsustainable “pull forward” of customer demand and that its loan portfolio (CAF) was facing significant, undisclosed risks.

“Our investigation focuses on whether CarMax’s executives prioritized short-term optics over transparency, by claiming robust growth that was allegedly driven by a one-time tariff event,” said Reed Kathrein, the Hagens Berman partner leading the litigation. “We are scrutinizing the significant increase in the loan loss provision for the CAF portfolio, which may suggest undisclosed weaknesses in the core business. Investors in CarMax who suffered significant losses during the Class Period should contact the firm now to discuss their rights.”

Legal Analysis: Undisclosed Business Weakness & Risk

The complaint details the alleged gap between the Company’s public statements about sustainable growth and the undisclosed material adverse facts regarding its operational and financial stability.

Disclosure EventImpact on KMX Stock PriceAlleged Securities Violation RevealedQ2 2026 Earnings (Sept. 25, 2025)Stock fell 20%; comparable unit sales down 6.3%.Misrepresenting the nature of demand; failing to disclose the unsustainable “pull forward” effect of tariffs.CEO Departure & Outlook (Nov. 6, 2025)Stock fell 24%; weak Q3 guidance (8%-12% decline).Undisclosed underlying business weakness and lack of sustainable growth prospects.CAF Loan Portfolio$142 Million increase in loan loss provision.Misrepresenting the quality and risk inherent in the CarMax Auto Finance (CAF) loan portfolio. The lawsuit specifically covers investors who purchased CarMax securities between June 20, 2025, and November 5, 2025. The two alleged disclosures led to dual stock crashes, demonstrating the magnitude of the alleged misrepresentations.

Next Steps: Contact Partner Reed Kathrein Today
Hagens Berman has a proven track record, securing over $325 billion in settlements for investors and consumers.

Mr. Kathrein is actively advising investors who purchased KMX shares during the Class Period and suffered significant losses due to the undisclosed risks regarding the “pull forward” demand and the CAF loan portfolio.

The Lead Plaintiff Deadline is January 2, 2026.

TO SUBMIT YOUR CARMAX (KMX) STOCK LOSSES NOW, PLEASE USE THE SECURE FORM BELOW:

Submit your losses nowContact: Reed Kathrein, 844-916-0895 or email: [email protected] If you’d like more information and answers to frequently asked questions about the CarMax case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding CarMax 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. 

Contact:
Reed Kathrein, 844-916-0895

64% MMR achievement by 24 weeks across all efficacy evaluable patients 

75% MMR achievement by 24 weeks in efficacy evaluable patients at doses >320mg QD

Encouraging safety/tolerability profile maintained with longer duration of treatment

Company to host investor update call today at 4:30pm ET

FOSTER CITY, Calif., Dec. 08, 2025 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (Terns or the Company) (Nasdaq: TERN), a clinical-stage oncology company, today announced that updated and expanded data from the ongoing CARDINAL trial of TERN-701, a novel investigational allosteric BCR::ABL1 inhibitor, in patients with previously treated chronic myeloid leukemia (CML) are being presented today at the 67th American Society of Hematology (ASH) Annual Meeting and Exposition taking place December 6-9, 2025 in Orlando, FL. The company will host a conference call and webcast for investors at 4:30pm ET today following the ASH presentation.

The ASH presentation will be made available on the Terns Pharmaceuticals website simultaneously with the oral presentation by Elias Jabbour, MD, Professor, Department of Leukemia, Division of Cancer Medicine, The University of Texas MD Anderson Cancer Center, and lead investigator on the TERN-701 Phase 1 CARDINAL study. Presentation details are summarized below.

"We are delighted that our investigators can share these unprecedented Phase 1 data for TERN-701 with patient groups and the broader hematology community at ASH. The 64% major molecular response (MMR) achievement rate reported in the abstract is maintained in the expanded dataset presented at ASH. The safety profile and higher MMR achievement rate of 75% over 24 weeks at doses of 320mg and above supports selection of 320mg and 500mg QD as the recommended phase 2 doses (RP2Ds) for expansion. Study enrollment has accelerated and surpassed 85 patients which supports rapidly advancing TERN-701 through dose expansion cohorts, dose selection, and the initiation of pivotal studies," said Amy Burroughs, chief executive officer of Terns.

"We are particularly encouraged to see unprecedented rates of MMR in a highly refractory population, including compelling response achievement in patients with lack of efficacy on prior asciminib, ponatinib, and/or other marketed and investigational TKIs. In the RP2D dose range, we see a 36% DMR achievement rate by 24 weeks, highlighting the fast response kinetics of TERN-701. Importantly, with a median treatment duration of six months, we continue to see a favorable safety and tolerability profile at all doses, further positioning TERN-701 as the potential best-in-disease therapy in 2L+ and 1L CML, where we intend to focus pivotal clinical development," stated Emil Kuriakose, MD, chief medical officer of Terns.

"While therapies for CML have come a long way since imatinib, there remains an unmet need for new drugs that achieve early, broad and deep responses with a safety/tolerability profile that allows long-term maintenance of response with improved quality of life for patients. Based on the data to date, TERN-701 represents an innovative treatment option that has the potential to achieve this important goal. I am excited to help advance this therapy for the benefit of CML patients," said Dr. Jabbour.

The ASH oral presentation today reports data from the ongoing dose escalation and dose expansion parts of the CARDINAL study of TERN-701 in patients with previously treated CML. As of the September 13, 2025 cutoff date, 63 patients were enrolled.

Assessment of all dose cohorts (160mg - 500mg, n=63)

Of 38 efficacy-evaluable patients: Overall (cumulative) MMR rate of 74% (28/38) by 24 weeks, with 64% (18/28) achieving MMR and 100% (10/10) maintaining MMRMMR overall and achieved by 24 weeks in difficult to treat patient subgroups: Lack of efficacy to last tyrosine kinase inhibitor (TKI): 65% (13/20) overall; 63% (12/19) achievedLack of tolerability to prior TKI: 88% (14/16) overall; 71% (5/7) achievedPrior asciminib: 60% (6/10) overall; 43% (3/7) achievedPrior asciminib, ponatinib and/or investigational TKI: 67% (8/12) overall; 50% (4/8) achieved Deep molecular response (DMR) achievement rate by 24 weeks of 29% (10/34)No patients had lost MMR at the time of data cutoff
  Enrolled patients had heavily pretreated, refractory disease: Median of 3 prior TKIs; 60% had ≥3 prior TKIs 57% and 44% had baseline BCR::ABL1 >1% and >10%, respectively64% discontinued their last TKI due to lack of efficacy38% had prior asciminib treatment (75% had lack of efficacy and 25% had lack of tolerability)22% had prior ponatinib treatment (79% had lack of efficacy and 21% had lack of tolerability)15% with BCR::ABL1 mutations (10% with T315I and 5% with non-T315I mutations)
  Encouraging safety profile: 87% (55/63) of patients remained on treatment as of the data cutoff; with discontinuations due to disease progression (n=4), adverse events (n=1), and physician / patient decision or lost to follow up (n=3)No dose-limiting toxicities (DLTs) were observed in dose escalation, and a maximum tolerated dose (MTD) was not reachedThe majority of treatment-emergent adverse events (TEAEs) were low grade with no apparent dose relationshipRates of cytopenia were generally low with less than 10% Grade 3 thrombocytopenia and neutropeniaMost common non-hematologic TEAEs were diarrhea (21%), headache (19%) and nausea (19%), all Grade 1 or 2Grade 3 or higher TEAEs were all less than 10%, most commonly neutropenia (8%) and thrombocytopenia (8%)TERN-701 exposures were approximately dose proportional across the dose range
  Encouraging MMR achievement rates in patients with lack of efficacy to prior asciminib: SubgroupBaseline CharacteristicsMMR achieved by 24 weeksPrior asciminib (n=10)
No MMR at baseline7/10 (70%)3/7 (43%)Prior lack of efficacy6/7 (86%)2/6 (33%)Prior intolerance only1/7 (14%)1/1 (100%)     Assessment of patient cohorts at doses ≥ 320mg QD (n=53)

Similar overall baseline characteristics to the full study population: Median of 3 prior TKIs56% and 47% had baseline BCR::ABL1 >1% and >10%, respectively38% had prior asciminib treatment, 21% had prior ponatinib treatment68% discontinued their last TKI due to efficacy In 30 efficacy evaluable patients, overall MMR rate of 80% (24/30) by 24 weeks, with 75% (18/24) achieving MMR and 100% maintaining MMR (6/6)DMR achievement rate by 24 weeks of 36% (10/28)Molecular responses observed across full spectrum of baseline BCR::ABL1 transcripts   Baseline BCR::ABL1 (Patients at doses ≥ 320mg QD)  MR5
(n=0)MR4.5
(n=1)MR4
(n=1)MR3
(n=4)MR2
(n=11)MR1
(n=4)>10%
(n=9)Post-treatment BCR::ABL1MR5 (DMR) 111111MR4.5 (DMR)    3  MR4 (DMR)   111 MR3 (MMR)   26 4MR2     1 MR1     11BCR::ABL >10%      3          Note: Table includes response evaluable non-T315Im patients that have ≥1 baseline assessment with at least six months of treatment at visit cutoff, achievement of MMR or better prior to six months or treatment discontinuation prior to six months for any reason (n=30). Diagonal, bolded cells represent stable disease. Up/right of diagonal, bolded cells represents improvement in molecular response (MR) category, while down/left represents loss of efficacy. MR represents a decrease in the number of cells in the blood with the BCR::ABL1 gene and is quantified as a percentage. MR5: ≤0.001%, MR4.5: >0.001 to 0.0032%, MR4: >0.0032 to 0.01%, MR3: >0.01 to 0.1%, MR2: >0.1 to 1%, MR1: >1 to 10%.

Details for the ASH oral presentation are as follows:

Title: CARDINAL: A Phase 1 study of TERN-701, a novel investigational allosteric BCR::ABL1 inhibitor for patients with previously treated CML
Presenter: Elias Jabbour, MD, Professor, Department of Leukemia, Division of Cancer Medicine, The University of Texas MD Anderson Cancer Center
Session Name: 632. Chronic Myeloid Leukemia: Clinical and Epidemiological: Therapeutic agents to enhance patient outcomes
Session Date: December 8, 2025 at 2:45pm ET

Company Conference Call and Webcast Information

Terns will host a conference call and webcast for investors at 4:30pm ET on December 8, 2025 following the oral presentation at the ASH Annual Meeting. Members of the Terns management team will discuss additional TERN-701 data from CARDINAL, including patient vignettes, benchmarking comparisons and next steps for the development of TERN-701. The conference call will conclude with a Q&A session. 

The webcast can be accessed in the investor relations section of the Company's website. A replay of the event will be archived and available for a limited time.

About TERN-701 and CARDINAL Clinical Trial

TERN-701 is currently being evaluated in the CARDINAL trial (NCT06163430), a global multi-center dose escalation and dose-expansion clinical trial to assess safety, tolerability and efficacy in patients with previously treated chronic phase CML. The dose escalation portion of the CARDINAL trial completed in January 2025 with no DLTs observed up to the maximum dose of 500mg QD. Terns initiated the dose expansion portion of the trial in April 2025 with patients randomized to one of two dose cohorts (320mg or 500mg QD) with up to 40 patients per arm.

About Terns Pharmaceuticals

Terns Pharmaceuticals is a clinical-stage oncology company reimagining known biology to deliver high impact medicines. Our lead program, TERN-701, is a highly selective, oral, allosteric BCR-ABL inhibitor with a potentially best-in-disease profile that could meaningfully improve upon the efficacy, safety and convenience of existing treatments for chronic myeloid leukemia. For more information, please visit: www.ternspharma.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements about the Company within the meaning of the federal securities laws that involve substantial risks and uncertainties. Forward-looking statements include statements related to or in connection with expectations, timing and potential results of clinical trials and other development activities, including with respect to the CARDINAL trial; the potential indications to be targeted by the Company with its product candidates; the therapeutic potential of the Company's product candidates; the potential for the mechanisms of action of the Company's product candidates to be therapeutic targets for their targeted indications; the potential utility and progress of the Company's product candidates in their targeted indications, including the clinical utility of the data from and the endpoints used in the Company's clinical trials; the applicability of expected parameters and benchmarks on which to assess clinical trial results; the Company's clinical development plans and activities, including potential future dosing regimens and trial designs, milestones and results of any interactions with regulatory authorities on its programs; the Company's expectations regarding the profile and potential beneficial characteristics and therapeutic effects of its product candidates, including with respect to efficacy, tolerability, safety, convenience and pharmacokinetic profile; the potential differentiation of the Company's product candidates compared to similar, competitive or other products or product candidates; the best-in-disease potential of TERN-701; and the Company's plans for and ability to continue to execute on its current development strategy. All statements other than statements of historical facts contained in this press release, including statements regarding the Company's strategy, future financial condition, future operations, future trial results, projected costs, prospects, plans, objectives of management and expected industry and market trends, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "design," "develop," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "positioned," "potential," "predict," "seek," "should," "target," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. The Company has based these forward-looking statements largely on its current expectations, estimates, forecasts and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. These statements are subject to risks and uncertainties that could cause the actual results and the implementation of the Company's plans to vary materially, including the risks associated with the initiation, cost, timing, progress, results and utility of the Company's current and future research and development activities and preclinical studies and clinical trials. These risks are not exhaustive. For a detailed discussion of the risk factors that could affect the Company's actual results, please refer to the risk factors identified in the Company's reports filed with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent Quarterly Reports on Form 10-Q. New risk factors emerge from time to time and it is not possible for Company management to predict all risk factors, nor can the Company assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Except as required by law, the Company undertakes no obligation to update publicly any forward-looking statements for any reason.

Contacts for Terns

Investors
Justin Ng
[email protected]

Media
Jenna Urban
CG Life
[email protected]

Key Takeaways
Tesla stock sank Monday after the company got a downgrade from Morgan Stanley analystsMorgan Stanley said that the stock faces near-term risks as its EV business struggles, but still has the potential to be a leader in the self-driving software and humanoid robot industries.

The ranks of Tesla (TSLA) bulls have shrunk, as Morgan Stanley downgraded its rating on the company. Shares of the electric vehicle maker fell sharply on Monday. 

"Tesla is a clear global leader in electric vehicles, manufacturing, renewable energy, and real world AI and thus deserving of a premium valuation," analysts led by Andrew Percoco wrote in a note to clients over the weekend. "However, high expectations on the latter have brought the stock closer to fair valuation."

Morgan Stanley lowered its rating on Tesla stock to "equal-weight" from "overweight" previously, while raising their price target to $425 from $410. Telsa shares were down 4% at around $437 in mid-afternoon trading Monday.

Tesla stock faces near-term risks such as potentially falling short of quarterly earnings estimates as its EV business struggles, which could make its next year of trading "choppy," the analysts wrote.

Why This Matters to Investors
Wall Street remains divided on Tesla stock, with the 13 analysts tracked by Visible Alpha split between six "buy," four "hold," and three "sell" ratings. The stock, which has been on a bumpy ride this year, has gained less than 10% so far in 2025, lagging the performance of major stock indexes.

Here's how the analysts value the different elements of Tesla's business:

EV business: $55 per share, down from $75 previously. The analysts trimmed sales estimates for next year and through 2040, as EV brands in China continue to take market share and as the U.S. adoption of EVs remains uncertain.Network services: $145 per share. This comprises Tesla's self-driving software, charging network, and maintenance and service centers, which can grow as the self-driving software improves.Energy: $40 per share. This is made up of Tesla's energy storage systems such as batteries and solar panels for home charging, which the analysts say can grow as demand for home energy storage and renewable energy grows.Mobility: $125 per share. The analysts expect Tesla to expand its markets where self-driving robotaxis are able to operate next year, estimating that Tesla will have 30,000 robotaxis on the road by 2030.Humanoids: $60 per share. While still in the early stages, the analysts say Tesla is "uniquely positioned to be a leader" in the humanoid robot market because of its existing manufacturing abilities and technological advantage.

The analysts also said they expect Tesla will hit seven of the 12 milestones laid out in CEO Elon Musk's recently approved pay package, including the vehicle, Optimus and robotaxi milestones, but only three of the six profitability marks.

Tesla shares have gained 8% since the start of the year, but are down 10% from their record high set about a year ago.

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SummaryMPLX units surged 20% recently, outperforming XLE and SPY on a total return basis.Strong Q3 earnings, growing distributions, and capital deployment support long-term income and growth potential.Technical breakout, bullish golden cross, and high volume support suggest further upside toward the $62 target. pandemin/iStock via Getty Images

MPLX (MPLX) units have soared in the past two months. On a total return basis, they are up about 20%, significantly outperforming both the Energy Select Sector SPDR ETF (XLE) and the

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

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

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SAN FRANCISCO, Dec. 08, 2025 (GLOBE NEWSWIRE) -- Investor rights law firm Hagens Berman reminds investors of the January 12, 2026, deadline to move the Court for appointment as lead plaintiff in the securities fraud class action lawsuit filed against Primo Brands Corporation (NYSE: PRMB) and its predecessor, Primo Water Corporation (PRMW).

The lawsuit alleges that the company misled investors by claiming the integration of its merger was “flawless” when, in reality, it was botched, leading to massive customer service failures and a devastating stock drop.

“The core of this lawsuit is that Primo Brands allegedly concealed severe problems during a critical merger, painting a false picture of operational success while the foundation was cracking,” said Reed Kathrein, the Hagens Berman partner leading the investigation. “We urge investors who suffered substantial losses to contact our firm immediately to discuss their rights.”

Key Allegations & Facts for PRMB Investors

Class Period:   June 17, 2024 – Nov. 6, 2025Lead Plaintiff Deadline:   Jan. 12, 2026Core Allegations: Misleading statements that the merger integration was "flawless," concealing severe technology failures and supply disruptions that caused customer loss and led to a CEO replacement.Financial Impact: Stock fell approximately 36% following the November 6, 2025, disclosure of operational failures and the need to slash 2025 revenue forecasts. What Investors Should Know

The lawsuit alleges that Primo Brands’ executives repeatedly assured investors that the merger was tracking well and would accelerate growth. These statements were allegedly false because the integration was suffering from significant, undisclosed technological and service issues.

The truth began to emerge in stages, culminating on November 6, 2025, when the Company announced a major leadership change, replacing its CEO, and admitted they "probably moved too far too fast on some of the various integration work streams." This final disclosure confirmed the operational failures, leading to the dramatic 36% stock crash as investors realized the true extent of the financial damage.

Hagens Berman is investigating whether the Company violated federal securities laws by making false or misleading statements to inflate its stock price during the Class Period.

Next Steps for Investors:

If you purchased Primo Brands (PRMB) or Primo Water (PRMW) securities during the Class Period and suffered losses, you may be eligible to serve as Lead Plaintiff. The deadline to file your motion for Lead Plaintiff is January 12, 2026.

TO SUBMIT YOUR PRIMO BRANDS (PRMB) STOCK LOSSES NOW OR FOR A CONFIDENTIAL CONSULTATION:

Visit: www.hbsslaw.com/investor-fraud/prmb
Contact the Firm Now: [email protected]
   844-916-0895

If you’d like more information and answers to frequently asked questions about the Primo case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Primo 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. 

Contact:
Reed Kathrein, 844-916-0895

BitMine Immersion Technologies Inc. (NYSE:BMNR) on Monday announced having purchased 138,452 Ethereum (CRYPTO: ETH) as BMNR attempts to stabilize after a steep multi-month decline.

Company Expands Crypto Treasury To More Than 3.86 Million ETHAccording to a press release, BitMine now holds 3.86 million ETH, or more than 3.2% of the total supply, alongside $1 billion in cash and 193 Bitcoin (CRYPTO: BTC).

The company said its combined crypto, cash, and "moonshot" assets total $13.2 billion. 

Chairman Thomas "Tom" Lee said the accelerating accumulation reflects confidence that Ethereum prices will strengthen on the back of multiple catalysts.

Lee pointed to the December Fusaka upgrade, which he said improves scalability and usability, and the Federal Reserve's expected rate cut on Dec. 10 as near-term market drivers. 

BitMine also plans to launch a staking infrastructure solution in early 2026.

The company has become one of the largest Ethereum treasuries globally, with ownership levels approaching a 5% goal. 

Stock Attempts To Stabilize After Prolonged Slide

BMNR Stock Price Action (Source: TradingView)

The spending spree comes while BMNR stock is still down roughly 60% from its late-summer highs, despite a 45% bounce off its November lows.

BMNR has found support near the $30–$32 area, with repeated buying activity helping to form a base.

The stock is currently struggling to hold above key moving averages clustered between $34 and $40. 

$40 Is The Make-Or-Break Level For Momentum Traders

BMNR Stock Price Dynamics (Source: TradingView)

The 4-hour chart shows a heavy supply zone between $47 and $55, created by months of trading volume earlier in the year.

Many traders who bought in that region are still stuck at losses.

When price returns there, they are likely to sell to break even, not hold for upside.

That makes this zone difficult to clear without a strong catalyst or heavy volume.

A breakout here would show buyers are willing to pay higher prices, not just defend support.

Failure to break $39–$41 could see price drift back toward $32, with deeper downside risk to $30 if sentiment weakens.

Read Next:

Is Corpay Poised For More Bullish Momentum Ahead?
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1 hour ago

ADGM’s recognition of USDT as an accepted fiat-referenced token lets licensed companies offer regulated custody, marking a step for stablecoins in the UAE.

Tether’s USDt, the largest stablecoin by circulation, has secured a regulatory milestone in Abu Dhabi’s international financial center, opening the door for licensed institutions to use the token in regulated services.

Announced Monday, USDt (USDT) was formally recognized as an “accepted fiat-referenced token,” allowing regulated firms in the Abu Dhabi Global Market (ADGM) to offer trading, custody and other services involving the stablecoin. 

ADGM — an international financial center and free economic zone — has become a magnet for digital asset companies seeking clear rules and institutional access.

Tether CEO Paolo Ardoino said the designation “reinforces the role of stablecoins as essential components of today’s financial landscape,” a nod to their growing use in remittances, cross-border settlements and digital asset markets.

ADGM had already classified USDT as an accepted virtual asset across issuance on Ethereum, Solana and Avalanche. The latest recognition extends that framework, potentially boosting USDT’s usability for cross-border payments, institutional custody and settlement.

Source: TetherAbu Dhabi targets stablecoins for financeTether’s USDT isn’t the only stablecoin gaining traction in Abu Dhabi. Local regulators recently approved Ripple’s dollar-pegged RLUSD as an accepted fiat-referenced token, clearing the way for institutional use.

The development comes as expectations build around a separate initiative backed by some of Abu Dhabi’s largest financial players.

A consortium including ADQ — the emirate’s sovereign wealth fund — International Holding Company and First Abu Dhabi Bank has announced plans for a dirham-pegged stablecoin, pending approval from the UAE Central Bank.

Valued at over $300 billion, the global stablecoin market has experienced rapid growth over the past two years. Source: DefiLlamaAbu Dhabi and the UAE, more broadly, have emerged as key players in the developing stablecoin and digital asset markets, thanks to a relatively clear regulatory framework in a region already positioned as a global hub for commerce. ADGM has become a central venue for licensing exchanges, custodians and other crypto-focused firms seeking structured oversight.

Magazine: The one thing these 6 global crypto hubs all have in common…

XRP tightens as buyers counter whale pressure and momentum builds for a breakout.

In brief
Ondo Finance said the SEC closed a probe with no charges.
Numerous SEC cases and investigations into crypto firms have ended this year.
Former SEC Chair Gary Gensler was wary of tokenization.
Ondo Finance said on Monday that tokenization’s future looks brighter in the U.S., following the Securities and Exchange Commission’s closure of a years-long probe into its business.

The regulator had spent years scrutinizing how the Ethereum-based decentralized finance platform creates blockchain-based representations of real-world assets, and whether the project’s ONDO token resembled a security, according to a blog post.

Ondo said that the investigation, which was “initiated under the Biden administration during a period of heightened scrutiny of digital-asset firms,” was closed without any charges. Decrypt reached out to the SEC to confirm the move, but did not immediately receive a response.

In 2024, when Ondo said the inquiry began, the SEC was led by then-Chair Gary Gensler. At the time, Ondo said it was one of the only firms focused on tokenizing equities at scale, following its creation of a platform for digital representations of U.S. Treasuries.

Ondo said that it cooperated throughout the investigation. But ultimately, the company felt that it was “not a justified target,” emphasizing its focus on building regulated financial products with “some of the safest assets in traditional finance.”

Ondo’s token, which allows holders to vote on proposals, changed hands around $0.47, a 3.7% increase over the past day, according to CoinGecko. Over the past year, the token’s price has fallen 77%, following a peak of $214 set last December.

Ondo issues over 100 tokenized assets, according to RWA.xyz. As of Monday, its fund of short-term U.S. debt was the largest at $774 million.

The company highlighted how the SEC’s stance on tokenization has shifted since Gensler’s resignation, which followed U.S. President Donald Trump’s re-election. Famously, Gensler clashed with Rep. Ritchie Torres (D-NY) in 2023 over whether a Pokémon card could be considered a security if it was represented by a token on a blockchain.

Not long after his appointment in 2021, Gensler said cryptocurrencies that function as synthetic representations of a traditional stock were implicated by securities laws. However, the SEC and Commodity Futures Trading Commission had targeted issuers of such digital assets before.

From Coinbase to Ripple, the SEC pressed forward with several lawsuits under Gensler’s leadership that accused companies of flouting securities laws. So far this year, the SEC has officially dropped over a dozen inquiries and lawsuits.

Still, tokenization has become a formal part of the SEC’s agenda, with Chair Paul Atkins proposing on Fox Business last week that financial markets could shift entirely to blockchain-based systems within the next couple of years.

“The trouble that we’ve seen here over the past few years is that the SEC historically was never necessarily at the vanguard of pushing innovations,” he said.

In September, the Nasdaq asked the SEC for a rule change that would allow it to record stocks in tokenized form. Months before, SEC Commissioner Hester Peirce highlighted the agency’s associated focus, arguing that “tokenization cannot reach its full potential without legal clarity.”

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Institutional adoption of Bitcoin ETFs rises as onchain activity drops, signaling decreased direct retail interaction with digital assets.

Photo: Leonid Sukala

Key Takeaways

Active Bitcoin addresses have decreased since early 2024, after the introduction of spot Bitcoin ETFs.
Bitcoin ETFs enable institutional investors to gain Bitcoin exposure without directly holding or moving the asset onchain.

Active Bitcoin addresses have declined since the launch of spot Bitcoin ETFs in early 2024, signaling a shift toward institutional investment over retail participation in the crypto market.

Bitcoin ETFs, investment funds that track Bitcoin’s price through traditional stock exchanges, have driven institutional inflows while contributing to reduced onchain activity. The funds allow investors to gain Bitcoin exposure without directly holding the digital asset.

The decline in active addresses has coincided with Bitcoin reaching new price highs since ETF introductions, suggesting institutional adoption through ETF structures has outpaced direct retail engagement with the blockchain network.

Onchain engagement has softened despite the price appreciation, indicating that while institutions increasingly use ETF vehicles for Bitcoin exposure, retail investors are participating less directly in network activity.

Disclaimer

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Cryptocurrency

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December 8, 2025

Michael Saylor’s company, Strategy, has just confirmed the purchase of 10,624 BTC for approximately $962.7 million at an average price of $90,615 per coin.

This brings Strategy’s total holdings to 660,624 BTC, acquired for $49.35 billion at an average price of $74,696.

With a 24.7% Bitcoin yield so far in 2025, this latest move could signal renewed institutional conviction in BTC and may be pivotal for Bitcoin price prediction outlooks going into 2026.

This announcement may once again hint that the smart money is preparing for the next leg up.

Michael Saylor Pitches Bitcoin to 100+ InvestorsSaylor recently shared at the ongoing Bitcoin MENA Conference in Dubai that he’s been meeting with sovereign wealth funds and over 100 different investors, including hedge funds, banks, and their owners, who all want Bitcoin exposure.

UAE National Security’s Mohammed Al Shamsi declared that “Bitcoin has become the key pillar in the future of financing.”

With Bitcoin up 3.26% in the last 24 hours to reclaim the $92,000 mark, traders are now going long, flipping their bias from the previous bearish stance.

Over the past two hours, the Lookonchain tracker revealed that a whale with over $9.6 million in total profits opened a $32 million long position on Bitcoin.

However, analyst Ted Pillows believes that with the Fed rate cut decision coming between tomorrow and Wednesday, the BTC CME gap between $89,400 and $89,800 would likely be filled before any significant move into six-figure territory.

Bitcoin Price Prediction: Technical Analysis Points to $85k CME Gap FillThe 4-hour chart shows Bitcoin trading just below the key $94,000 resistance, which remains the critical level the market must reclaim to confirm a clean bullish reversal.

Price is currently hovering around the 9-period SMA, suggesting short-term momentum is stabilizing after the recent pullback.

The RSI sits near 60 with multiple bullish divergence signals earlier in the structure, indicating underlying buyer strength remains present.

Source: TradingViewA notable feature is the CME gap around $85,000, which has yet to be filled.

If price retests the $85,000–$86,000 zone and holds it as support, the structure favors a continuation rally back toward $94,000.

A breakout above that resistance would likely open the door to the first upside target around $101,000, with continued momentum potentially extending the rally toward $106,000.

Maxi Doge Presale Surpasses $4.3M as Hype Builds for the Next Big Meme CoinWith bullish momentum brewing across the market, investors are rushing to secure early exposure to high-upside tokens and Maxi Doge ($MAXI) is quickly becoming a crowd favorite.

Tapping into the same degen-fueled energy that helped Dogecoin explode in 2021, Maxi Doge has already raised over $4.3 million from early backers since launching in July.

Inside the Maxi Doge community, members share early trading setups, alpha leaks, and access opportunities that most only find too late.

The project also reinvests up to 25% of presale funds into high-potential plays, using the profits to promote $MAXI even further.

Early buyers can currently lock in the presale price of $0.000272 and access 72% APY staking rewards but prices are set to increase soon.

To join before the next price tier, visit the official Maxi Doge website and connect a compatible wallet, such as Best Wallet.

You can swap existing crypto or use a bank card to make your $MAXI purchase in seconds.

Visit the Official Maxi Doge Website Here

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In brief
BlackRock filed an S-1 for a Ethereum staking ETF on Friday.
The newest ETF, ETHB, would track the returns of ETH and add rewards from the portion of the token holdings that are staked.
BlackRock's spot Bitcoin and Ethereum ETFs are the most successful spot funds on the market for each respective asset.
BlackRock filed an S-1 registration statement with the SEC on Friday for ETHB—a new staked Ethereum trust exchange-traded fund.

Unlike the firm’s popular iShares Ethereum Trust spot ETF (ETHA), the staking Ethereum trust ETF will track the performance of Ethereum and add rewards earned from the trust’s staked ETH.

“The trust is a passive investment vehicle that does not seek to generate returns beyond tracking the price of Ethereum and staking some portion of the Ethereum it holds (which may vary from time to time),” the filing reads.

The firm’s S-1 registration filing follows the November formation of the Delaware statutory trust, an act that typically precedes the ETF filing for crypto and commodity products. 

Previously, BlackRock had sought approval to add a staking component to its spot Ethereum ETF, ETHA. While the SEC had acknowledged requests as early as July, it continued to push back a formal decision, last delaying a decision in early September.

It’s unclear how ETHB’s filing will affect any plans for staking additions to ETHA. A representative for BlackRock told Decrypt the firm could not comment on its ETHB ETF filing at present time.

Ethereum staking ETFs hit the market following the creation of generic listing standards for commodity trusts. Grayscale’s ETHE was first to market in early October, followed by the REX-Osprey ETH + Staking ETF.

But so far, they haven’t eaten into the success of BlackRock’s existing spot ETF.

ETHA has more than $11 billion in funds under management, or around 3.6 million ETH, compared to less than $5 billion (or 1.8 million ETH) for Grayscale’s ETHE and ETH Mini Trust ETFs combined.

BlackRock’s ETF success is also apparent in the Bitcoin market, highlighted by its iShares Bitcoin Trust ETF (IBIT), which is the largest crypto ETF on the market with around $70 billion in assets under management. 

IBIT is up around 1% on Monday as Bitcoin has fallen 1% in the last 24 hours to trade at $90,390. ETHA has jumped more than 3% as Ethereum is roughly flat, changing hands at $3,122. 

When approved, the iShares Staked Ethereum Trust ETF (ETHB) is expected to trade alongside BlackRock’s other ETFs on the Nasdaq exchange.

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The U.S. Securities and Exchange Commission has concluded its two-year investigation of Ondo Finance without proposing enforcement action, paving the way for the tokenization company to overcome regulatory barriers as it expands its presence within the country. 

In October 2023, the company initiated a review to determine whether the tokenized U.S. Treasury products it offered complied with federal securities laws and whether the ONDO token fell within the securities classifications. 

SEC shift under Chair Paul Atkins
The Ondo review aligns with a longer-term shift in the SEC’s stance on digital assets under Chair Paul Atkins. The company says that since Atkins took office, the agency has shut down the majority of its crypto-related inquiries, including previously announced actions targeting Coinbase, Ripple, and Kraken.

The initial investigation aimed to determine whether the tokenization of U.S. Treasuries was consistent with existing securities laws and whether the framework used by the firm to issue ONDO tokens fell within the jurisdiction of these laws. According to sources close to the issue, the review took about two years before the SEC informed Ondo that it was over.

According to the company, the outcome eliminates regulatory ambiguity regarding continuing operations in the United States, especially following its registration as an investment advisor and the acquisition of Oasis Pro Markets, an SEC-registered broker-dealer, alternative trading system operator, and transfer agent.

Rising SEC focus on tokenization
The case is finally closed, with the SEC focusing more on the tokenization of traditional markets. The regulator held a panel at its Investor Advisory Committee meeting last week to discuss how distributed ledger systems could be deployed to issue, trade, and settle public equities. Conversations focused on the possibility of tokenized systems operating under current market regulations, while still protecting investors.

In opening statements, Chair Atkins remarked that distributed ledger technology and tokenization of financial instruments might affect the US capital markets structure. The focus of the agency has increasingly shifted to how tokenized assets are issued and how they can be regulated by entities and operated by regulated entities within existing frameworks.

Ondo claimed that the conclusion of the review provides a more precise regulatory environment, as it aims to develop U.S. initiatives. This acquisition of Oasis Pro Markets earlier this year has positioned the company to venture into regulated trading and settlement of tokenized products. 

ONDO market reaction and industry context
The ONDO token recorded an increase following the disclosure of the investigation. At the time of reporting, the asset was trading at $0.4861, representing an 8.12% increase over the past 24 hours.

It was also reported that major financial institutions, including Citi, JPMorgan, BlackRock, and Dinari, had tried exploring tokenization infrastructure on the Avalanche network.

Another instance of the SEC’s concluded investigations into digital assets is the Ondo review conducted during its current tenure. In the Ondo case, the decision terminates a compliance investigation proceeding that had been ongoing for over a year and prepares the company to continue its controlled operations in the tokenized financial product area.

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TL;DR

Strategy buys 10,624 BTC ($962.7M), raising total holdings to 660,624 Bitcoin.
Purchase fully funded by equity issuance, not debt or BTC sales.
Michael Saylor announces details transparently on X, reinforcing corporate Bitcoin advocacy.

Strategy deepens its bet on Bitcoin (BTC) and sends a clear message about its treasury priorities. Over the past week, the company acquired 10,624 BTC for roughly $962.7 million, paying an average price near $90,615 per coin. Moreover, the new purchase ranks among the largest weekly additions for the firm since July and adds fresh weight to its role as a corporate Bitcoin holder.

After the transaction, Strategy controls 660,624 BTC, accumulated for about $49.35 billion at an average cost close to $74,696 per Bitcoin. At recent spot levels around $90,000, internal estimates point to unrealized gains above $11 billion on the overall position. 

The treasury mix also includes a cash reserve of $1.44 billion, which management keeps available for dividends and near-term corporate needs. As a result, executives tell shareholders they do not need to sell BTC either for dividend payments or for debt service.

Strategy finances the entire purchase through equity, not through debt or Bitcoin sales. The company raises about $928 million via common stock under ticker MSTR and roughly $35 million through preferred shares under ticker STRD. Management executes the deals under an ongoing at-the-market (ATM) equity program, a tool which allows gradual share issuance into regular trading sessions. In addition, executives maintain room under the program for further capital raises if market conditions stay supportive.

Strategy has acquired 10,624 BTC for ~$962.7 million at ~$90,615 per bitcoin and has achieved BTC Yield of 24.7% YTD 2025. As of 12/7/2025, we hodl 660,624 $BTC acquired for ~$49.35 billion at ~$74,696 per bitcoin. $MSTR $STRC $STRK $STRF $STRD $STRE https://t.co/oyLwSuW7nW

— Michael Saylor (@saylor) December 8, 2025

Executive chairman Michael Saylor announces the purchase on X, sharing trade size, average price, updated holdings and the full list of related tickers $MSTR, $STRC, $STRK, $STRF, $STRD y $STRE. The post reinforces a communication style built around transparency on treasury moves and frequent reminders of the link between equity and Bitcoin exposure. Meanwhile, many market participants see each update from Saylor as both an information release and a subtle marketing message for corporate Bitcoin reserves.

Strategy BTC holdings and reinforces dividend policy
Year to date in 2025, Strategy reports a Bitcoin yield of 24.7%, measuring the increase in holdings relative to the starting balance. The new batch of coins lands during a period of elevated volatility, yet BTC trades near $90,000 around the announcement and holds the same zone in the immediate aftermath.

Share performance offers a more complex picture for equity investors. Preferred shares STRD trade near $80.15, roughly in line with levels seen since the June debut. Common stock MSTR sits close to one-month lows around $178, after a slide below $160 earlier in the period. 

Index-related flows and concerns about dilution weigh on the equity, even as the company channels new capital into additional BTC purchases.

Strategy also introduces a BTC Credit dashboard designed to track cash, debt, interest schedules and collateral metrics in one place. With the dashboard, the company aims to show it can meet obligations without touching its Bitcoin stack, even in stressed market conditions. Such disclosures seek to address questions from analysts who watch links between crypto holdings, margin rules and corporate debt closely.

Coinbase adds Plume and Jupiter for spot trading Dec 9, boosting access to RWA and Solana-based tools.

Izabela Anna2 min read

8 December 2025, 06:36 PM

Coinbase will introduce spot trading for Plume and Jupiter on December 9, 2025. The exchange plans to open the PLUME-USD and JUPITER-USD pairs after 9 AM PT once liquidity conditions improve. 

The move adds two new assets to Coinbase’s lineup as traders watch broader market sentiment. Besides this, institutions will gain direct access through Coinbase Exchange. The listing also arrives during a period of shifting interest in real-world assets and Solana-based tools, which has helped both ecosystems draw fresh attention.

New Tokens Bring Distinct Focus AreasPlume is a full-stack blockchain focused on real-world assets. It aims to help developers structure tokenized instruments with fewer integration hurdles. Additionally, the project has built a system designed for regulated applications. Its team highlights tokenized Treasuries and similar instruments as core targets. 

Hence, market participants expect interest from funds exploring compliant RWA platforms. The Ethereum contract address for Plume is 0x4C1746A800D224393fE2470C70A35717eD4eA5F1. Coinbase warned users that sending the token on unsupported networks could result in lost funds.

Jupiter operates as a Solana-based DEX aggregator that helps traders route orders. Consequently, its tools gained attention during Solana’s rising on-chain activity. The SPL contract address for Jupiter is JUPyiwrYJFskUPiHa7hkeR8VUtAeFoSYbKedZNsDvCN. 

Coinbase noted that transfers must remain on the Solana network to avoid errors. Moreover, the listing adds higher visibility to Solana’s trading stack as liquidity spreads across new platforms.

Market Watches Liquidity and Early VolumesTrading will open on Coinbase.com, the Coinbase app, and Coinbase Advanced. Institutions will gain direct channels on Coinbase Exchange. Markets remain focused on early order flow since both assets enter a mixed risk environment. Significantly, traders continue to seek diversification among tokens tied to real-world assets and high-speed decentralized routing.

Besides this, the listings arrive during a quiet period for new market entrants. Many investors expect tighter spreads only after deeper liquidity forms. Early trading activity will likely reflect broader sentiment rather than long-term adoption. However, increased visibility often brings new participants during initial sessions.

Outlook as Year-End ApproachesPlume and Jupiter add momentum to late-year listings as investors watch for stronger inflows. The next sessions may offer clues about demand for RWA networks and Solana tools. 

Additionally, both tokens broaden Coinbase’s roster at a moment when traders reassess risk exposure. Market participants will monitor volumes closely to see how each asset establishes its trading base.

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Izabela Anna

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

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Coinbase

U.S. crypto investors now have just over two weeks to execute any final sales before sweeping IRS reporting rules go live on January 1, 2026.

What Happened: Beginning in 2026, centralized exchanges will be required to follow the same cost-basis reporting rules as traditional brokerages.

This means platforms must report both purchase and sale cost basis details for every U.S. customer's digital asset transaction.

With less than a month before the new rules kick in, traders may want to evaluate whether certain sales should be completed under the 2025 system, where exchanges still do not report cost basis to the IRS, Protos reported.

The transition to mandatory cost-basis reporting is expected to complicate tax situations for investors who trade across multiple centralized and decentralized exchanges.

For instance, if someone bought one BTC at a higher price on Coinbase and another at a lower price on Kraken, then later sold one BTC on Kraken, today they could choose the higher Coinbase purchase as their cost basis to reduce taxable gains.

But starting in 2026, Kraken will be required to report its own (lower) cost basis to the IRS, potentially increasing the reported taxable gain.

Also Read: How Ripple Secured Wall Street Backing For Its Massive $500 Million Raise (CORRECTED)

Why It Matters: For 2025 transactions, exchanges only need to file Form 1099-DA for gross proceeds, they are not required to report cost basis. Beginning with 2026 trades, cost basis reporting becomes mandatory under rules created by the 2021 Infrastructure Bill, aimed at tightening crypto tax compliance.

Until December 31, 2025, U.S. taxpayers selling Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), XRP (CRYPTO: XRP), stablecoins, or any other digital assets must continue to calculate and report their own cost basis on Form 8949.

Read Next:

Robinhood Adds XRP, Dogecoin, Solana Trading Pairs For European Markets
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December 8, 2025

Bernstein, the global research and brokerage firm managing over $790 billion in assets, has declared the end of the traditional 4-year crypto cycle.

The firm’s latest Bitcoin price prediction sets a $150,000 target by 2026 in what analysts describe as an “elongated bull market.”

End of 4-Year Cycle and Fed Policy Could Ignite a Major RallyAccording to Matthew Sigel, Head of Digital Asset Research at VanEck, Bernstein stated that following the recent market correction, “we believe the Bitcoin cycle has broken the 4-year pattern and is now in an elongated bull-cycle with more sticky institutional buying offsetting any retail panic selling.”

Bernstein: "In view of recent market correction, we believe, the Bitcoin cycle has broken the 4-year pattern (cycle peaking every 4 years) and is now in an elongated bull-cycle with more sticky institutional buying offsetting any retail panic selling.
Despite a ~30% Bitcoin…

— matthew sigel, recovering CFA (@matthew_sigel) December 8, 2025
Despite Bitcoin’s approximately 30% correction that began in early October, the asset manager observed only about 5% outflows via ETFs, a striking indicator of institutional conviction.

Bernstein expects Bitcoin to resume its bull run soon with a 2026 target of $150,000 and a potential cycle peak in 2027 at $200,000.

“Our long-term 2033 Bitcoin price target remains approximately $1,000,000,” Bernstein added.

Analysts at the London Crypto Club suggest a liquidity boost from the Fed on Wednesday may serve as a powerful catalyst, potentially driving the world’s largest cryptocurrency “sharply higher.”

In their latest analysis, Cryptonews revealed that David Brickell and Chris Mills present that the central bank is positioned to deliver a “dovish surprise”.

“We’re moving into a continued rate-cutting cycle accompanied by balance sheet expansion as the Fed effectively turns on the money printers to monetize the deficit,” they wrote.

“That’s a powerful, structural tide to be swimming against in the new year.”

Bitcoin Price Prediction: Technical Structure Remains Bullish Above $78KThe weekly chart shows Bitcoin holding above the critical $78,000 support level, which separates a deeper bear-market breakdown from the continuation of the macro uptrend.

Price recently dipped sharply but has stabilized near the 20-week SMA, while the 50-week SMA continues to slope upward, indicating that the long-term trend remains intact despite the correction.

Source: TradingViewRSI momentum has cooled significantly to the mid-40s, reflecting a reset from overbought conditions without reaching the extreme oversold levels seen at major cycle bottoms.

As long as Bitcoin maintains the $78,000 region, the structure suggests consolidation within a larger bull cycle.

Recovery above $102,000 would demonstrate renewed strength, while clearing the $108,000 resistance zone would confirm extension into new highs.

Pepenode Presale Capitalizes on Meme Coin MomentumIf Bitcoin returns to bullish territory and breaks the 4-year cycle as Bernstein projects, meme coins like Pepenode (PEPENODE) could experience explosive rallies.

This gamified mine-to-earn meme coin presale on Ethereum has already raised over $2.3million despite challenging market conditions.

Pepenode offers virtual mining nodes and facility upgrades through a browser-based game requiring no hardware.

The project is capturing the community-driven momentum that propelled PEPE to over 1,000x gains during the 2023-24 run.

Analysts believe the PEPE community could help Pepenode deliver 10-50x returns for early investors.

To purchase Pepenode at the current price of $0.0011873, visit the official presale site.

Then connect an Ethereum-compatible wallet like Best Wallet

And make payment using ETH, BNB, USDT, or a credit/debit card for instant access.

Visit the Official Pepenode Website Here

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