Market Signal Briefing

Rare earths just stopped being a niche mining story and became a frontline geopolitical war. With China tightening control over strategic metals used in EV motors, defense systems, wind turbines, and AI hardware, the U.S. is scrambling to rebuild an independent supply chain. That urgency has dragged two U.S. names into the spotlight: MP Materials Corp (NYSE:MP) and USA Rare Earth Inc (NASDAQ:USAR).

Track USAR stock here.
One already produces. The other promises the future. Both are fighting for the title of America's rare-earth champion.

MP Materials’ Operational AdvantageMP is the battle-tested operator. It runs one of the only scaled rare-earth mines and processing facilities in the U.S., and production of critical NdPr magnet materials jumped sharply year-over-year as it expands refining and magnet-making capacity.

Government backing is the real ace here — MP has secured a major agreement with the U.S. Defense Department, cementing itself as a national-security infrastructure play rather than just a mining equity.

That makes MP a company with revenue, output, and geopolitical weight, not just narrative.

Read Also: This Government-Owned Rare-Earth Stock Still Has Big Upside Ahead, Goldman Says

USAR’s Speculative UpsideUSAR is the opposite side of the trade: high-velocity speculation and high-risk execution.

The company has plans to build a fully integrated mine-to-magnet supply chain, and excitement around its Oklahoma magnet plant and strategic partnerships has triggered sharp bursts of investor enthusiasm. But it remains pre-revenue and capital-hungry.

USAR represents upside potential rather than proof — a moonshot bet on reshoring and the magnet-supply crunch, not a business delivering commercial scale today.

Read Also: USA Rare Earth (USAR) Stock Is Heating Up: What Investors Need To Know

Investor TakeawayThis isn't just a stock pick — it's a philosophy choice. MP is the realistic rare-earth backbone play, backed by production and defense demand. USAR is the conviction bet: big dreams, big risks, and possibly big rewards if execution lands.

In the rare-earth arms race, hype moves quickly. Hardware wins slowly. The question is which one you want to own when the real competition begins.

Read Next:

‘We Don’t Have Enough Capacity,’ USA Rare Earth CFO Admits — Magnet Demand Locked Into 2033
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Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Marex (MRX) To Contact Him Directly To Discuss Their Options

If you purchased or acquired Marex securities between May 16, 2024 and August 5, 2025 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Fortunato directly at (212) 355-4648.

Click here to participate in the action.

NEW YORK, Dec. 06, 2025 (GLOBE NEWSWIRE) --

What’s Happening?

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Marex Group PLC (“Marex” or the “Company”) (NASDAQ:MRX) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Marex securities between May 16, 2024 and August 5, 2025, both dates inclusive (the “Class Period”).Investors have until December 8, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit. What are the Case Details?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company sold over-the-counter financial instruments to itself; (2) Marex had inconsistencies in its financial statements between its subsidiaries and related parties, including as to intercompany receivables and loans; (3) as a result of the foregoing, Marex’s financial statements could not be relied upon; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
What are the Next Steps?

If you purchased or otherwise acquired Marex shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Follow us for updates on LinkedIn, X, and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn and X.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com

If you purchased or acquired Cepton common stock between July 29, 2024 and January 6, 2025 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Fortunato directly at (212) 355-4648.

Click here to participate in the action.

NEW YORK, Dec. 06, 2025 (GLOBE NEWSWIRE) --

What’s Happening?

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Cepton, Inc. (“Cepton” or the “Company”) (NASDAQ:CPTN) in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired Cepton common stock between July 29, 2024 and January 6, 2025, both dates inclusive (the “Class Period”).Investors have until December 8, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit. What are the Allegation Details?

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Cepton had received a credible third-party bid valuing Cepton at more than double the Koito Acquisition; (ii) Cepton's Board of Directors failed to meaningfully explore the foregoing offer and failed to disclose its terms when recommending that Cepton's shareholders approve the Koito Acquisition; (iii) consequently, Cepton's shareholders were deprived of the opportunity to meaningfully consider whether to accept or reject the Koito Acquisition; and (iv) as a result, Defendants' public statements were materially false and misleading at all relevant times.
What are the Next Steps?

If you purchased or otherwise acquired Cepton shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Follow us for updates on LinkedIn, X, and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn and X.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com

Partner Reed Kathrein Scrutinizes Allegations of Illicit Enrichment and Collapse
of Financial Reporting Controls Following $1.5 Billion Offering

, /PRNewswire/ -- National shareholder rights law firm Hagens Berman has opened an investigation into ALT5 Sigma Corporation (NASDAQ: ALTS) following a cascade of regulatory and management failures that led to the company's stock cratering nearly 80%.

The investigation focuses on whether ALT5 misled investors about the stability and reliability of its financial reporting and internal controls—specifically in the context of its $1.5 billion registered offering in mid-August. Just two weeks after this capital raise, the company began disclosing a series of catastrophic events that ultimately resulted in the firing of the CEO and CFO, the resignation of the auditor, and Nasdaq non-compliance.

"The sequence of events is highly alarming: a massive capital raise immediately followed by the disclosure of a money laundering judgment against a subsidiary, a management purge, and the auditor walking away," said Reed Kathrein, the Hagens Berman partner leading the investigation. "We are focused on the integrity of the company's financial records and whether the C-Suite deliberately concealed the severity of these regulatory and control issues. The firm urges investors in ALT5 who suffered significant losses to contact the firm now."

ALT5 Sigma (ALTS) Investigation:

The investigation focuses on the propriety of ALT5's repeated assurances that its financial reports are prepared in conformity with generally accepted accounting principles ("GAAP").

By August 29, 2025, just weeks after closing a $1.5 billion offering, ALT5 revealed that "on May 7, 2025, the Intermediate Court of Nyarugenge, Rwanda, rendered a judgment finding ALT5 Sigma Canada Inc., a subsidiary of the Company, and its former principal, Mr. Andre Beauchesne, criminally liable for offenses including illicit enrichment and money laundering[.]"

In addition, ALT5 said that it was reviewing "potential misstatements or omissions in the financial statements of the Company and omissions of material information by certain members of management and personnel of the Company."

Then, on October 22, 2025, the company announced that it suspended CEO Peter Tassiopoulos and CFO Jonathan Hugh assumed Tassiopoulos' duties.

Subsequently, on November 12, 2025, ALT5 disclosed that it would not timely file its quarterly report as a result of the ongoing review of the matters disclosed in August and delays related to the timeliness and responsiveness of its outside auditor.

Hugh's tenure was short-lived. On November 26, 2025, ALT5 announced that it fired Hugh effective November 21. The company also said its Audit Committee Chair, who joined the board in July, resigned from the board and all committees he served on.

Finally, on November 28, 2025, ALT5 disclosed that its outside auditor resigned the same day the company fired CFO Hugh.

Next Steps: Contact Partner Reed Kathrein Today

Hagens Berman is one of the nation's top plaintiff litigation firms, specializing in corporate accountability.

Mr. Kathrein is actively advising investors who purchased ALTS shares and suffered substantial losses due to the company's alleged financial reporting failures and the resulting stock crash.
We urge investors to contact the firm immediately as this is an active investigation.

TO SUBMIT YOUR ALT5 (ALTS) INVESTMENT LOSSES NOW, PLEASE USE THE SECURE FORM BELOW:

Submit Your ALT5 Losses
Contact: Reed Kathrein at 844-916-0895 or email [email protected]

For information on the investigation, visit: https://www.hbsslaw.com/cases/alt5-sigma-corporation-alts-investigation

Whistleblowers: Persons with non-public information regarding ALT5 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. 

SOURCE Hagens Berman Sobol Shapiro LLP

two ancient Bitcoin wallets from the Satoshi era, untouched for nearly 14 years, have suddenly become active. These digital vaults, holding a collective 2,000 BTC, have once again stirred the waters of crypto speculation as Bitcoin’s price seesaws below the $90,000 mark. The move has not only caught the attention of market analysts but also reignited discussions on the behavior of early Bitcoin adopters.

The reactivation of these wallets, dormant since the nascent years of Bitcoin, hints at the unpredictable patterns of cryptocurrency. The timing, amidst price fluctuations, has led to various theories about the intentions behind these substantial moves. Some suggest it could be a strategic financial maneuver to cash in on high prices, while others speculate about an intention to support or destabilize the current market sentiment.

Historically, Bitcoin was introduced by the pseudonymous creator Satoshi Nakamoto in 2009, and these early wallets are believed to belong to miners or initial adopters who participated in Bitcoin’s formative period. These individuals or entities managed to accumulate substantial amounts of Bitcoin when its value was negligible. Fast forward to today, and the digital currency’s value has seen exponential growth, transforming these wallets into gold mines.

The recent activation raises questions about the motivations of those holding significant amounts of Bitcoin for over a decade. Are they driven by profit, or does this signal a new trend among early adopters? As these wallets awaken, their impact on the already volatile cryptocurrency market cannot be understated. Bitcoin, known for its price swings, often reacts sharply to large movements of currency by so-called “whales,” those who hold large quantities of the asset.

Beyond mere curiosity, the implications of such movements are profound. A large sell-off could theoretically flood the market, potentially driving prices down further. Conversely, the distribution of such significant amounts could also lead to increased interest and investment if the perception is that these early investors are cashing out due to anticipated downturns.

Globally, cryptocurrencies have become a major financial instrument, with Bitcoin at its forefront. As of 2023, the global cryptocurrency market was valued at over $1 trillion, with Bitcoin accounting for a significant portion of this value. Despite its volatility, it remains a favored asset among investors seeking diversification away from traditional markets. As such, any substantial shift in the holdings of early Bitcoin owners can have rippling effects across the entire financial ecosystem.

The resurgence of these Satoshi-era wallets also serves as a reminder of the opaque and decentralised nature of cryptocurrency. Unlike traditional financial systems governed by central banks and regulatory bodies, Bitcoin transactions are anonymous and decentralized, recorded on a public ledger known as the blockchain. This structure provides security and anonymity but also introduces unpredictability, as seen in the sudden activation of long-dormant wallets.

In light of these developments, some market analysts warn of potential risks. The activation of these wallets, coupled with market volatility, could lead to increased speculation and potentially destabilize market equilibrium. Analysts urge caution, highlighting the need for investors to remain vigilant and informed in their trading strategies.

Despite these concerns, the crypto market has proven resilient, rebounding from numerous downturns over the years. Regulatory frameworks are gradually being developed worldwide, aiming to stabilize and integrate cryptocurrencies into the broader financial system. For instance, countries like the United States and European Union are working on comprehensive policies to oversee crypto activities, hoping to enhance security and reduce fraud.

However, the decentralized nature of cryptocurrencies means that complete regulation is challenging, if not impossible. This characteristic remains a double-edged sword—while it ensures freedom from conventional financial controls, it also means that sudden, large transactions like these can occur without warning, affecting market conditions unexpectedly.

As investors and analysts continue to watch the aftermath of these wallet activations, the broader implications for Bitcoin and the cryptocurrency market remain to be seen. Could this be a precursor to more early adopters cashing out, or might it signal a new phase of market stability? The cryptocurrency community remains on high alert, aware that in this rapidly evolving landscape, past performance is not always indicative of future results.

The next few weeks may provide clarity as to the intentions behind these movements. More importantly, it will test the market’s resilience and the strategies of investors worldwide. As Bitcoin hovers around significant price thresholds, all eyes are on the blockchain, waiting for the next move in this ever-unpredictable market.

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In the crypto ecosystem, some cases keep coming back like boomerangs. The case of Do Kwon, founder of Terraform Labs, is one of those matters that leave a lasting mark. As his court appearance approaches, US prosecutors are demanding a harsh sentence: twelve years in prison. A request that, beyond symbolism, recalls the shockwave caused by the collapse of the Terra ecosystem.

In Brief

US prosecutors request twelve years in prison for Do Kwon after Terra’s collapse.
They believe his actions triggered a major crisis in the crypto ecosystem.
Kwon faces legal risks in the United States as well as in South Korea.

A harsh sentencing recommendation for Terraform
US prosecutors did not hold back. In a case submitted to the federal court in New York, they demand twelve years in prison and confiscation of profits deemed criminal. In their view, the damage caused by Do Kwon surpasses that of notoriously infamous figures such as Sam Bankman-Fried, Alex Mashinsky, or Karl Sebastian Greenwood, while he acknowledges the facts and requests a reduced sentence. A heavy, almost provocative comparison, illustrating the scale of the fiasco.

This severity does not come out of nowhere. Since his guilty plea on two charges, wire fraud and conspiracy, the judicial framework has tightened. Prosecutors emphasize that the collapse of Terra in 2022 triggered a chain reaction. A real tidal wave that helped establish the notorious “Crypto Winter,” a freezing period for the entire sector.

This dynamic, still palpable today, has left a deep scar. The prosecution’s argument precisely rests on this idea: Kwon did not just deceive investors, he weakened an entire crypto market already shaken by a succession of scandals.

A judicial path already complex and far from over
This dynamic, still palpable today, has left a deep scar. The prosecution’s argument precisely rests on this idea: Kwon did not just deceive investors, he weakened the entire crypto and Terraform market already shaken by a succession of scandals.

Because another threat looms: the South Korean justice system. Prosecutors in his country would demand a sentence that could rise up to forty years. A prospect his legal team brandishes before the American judge to obtain a milder sanction.

In clear terms: no matter what happens in the United States, Kwon will probably not regain his freedom anytime soon. Even if each party proposes its own recommendation, the final arbiter remains the judge. And the range of possibilities remains wide: from a few years to several decades.

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Evans S.

Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

DISCLAIMER

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

XRP trades near $2.04 after climbing more than 12% in the last month, yet the token struggles to reclaim strong momentum. The asset slipped through the past week and lost close to 8% while traders weighed a rare combination of institutional strength and short-term weakness. 

With a market capitalization near $125 billion and daily volume above $3.3 billion, XRP keeps its position as one of the most liquid crypto assets. The market now watches the psychological $2 support level as heavy inflows clash ih rising short exposure and fading retail conviction.

Sentiment Breakdown Creates a Contrarian SetupMarket sentiment around XRP sits inside one of the deepest fear zones since October. Santiment reports that sentiment prints the same level of panic that preceded a sharp twenty-two percent rebound on November 21. RSI sits near 45 and the SAR indicator keeps flipping into bearish territory.

Source: X

Traders feel trapped between disbelief and fatigue after a two-month decline of thirty-one percent. The present slide shows structural weakness rather than blind panic, which means any reversal must appear through rising volume and inflow recovery rather than pure emotion. Traders hunt for signs that shorts may reach exhaustion as they did during past rebounds.

Institutions Accumulate While Retail Steps BackInstitutional appetite continues to grow even as retail traders exit. U.S. spot XRP ETFs attracted $906 million in net inflows since launch, with not a single day of outflows. The flagship XRPC ETF now holds $336 million, which places it above every competing fund.

Franklin Templeton now lists XRP as a top-four holding in its regulated multi-asset crypto product. These flows form a clear divergence: Institutional portfolios build long-horizon positions while retail traders short the asset. The setup shows a market where deep pockets accumulate quietly below the surface, waiting for fear to drain out of the system.

Ripple’s $4B Expansion Reshapes Global FinanceRipple pushed aggressively into global finance through a $4 billion acquisition wave across GTreasury, Rail, Palisade, and Ripple Prime. The company now holds strategic control over treasury management, liquidity services, payments, and institutional crypto infrastructure. Regulatory traction strengthens the expansion. Approvals in Singapore and the UAE, plus FSRA authorization of the RLUSD stablecoin, anchor Ripple inside the regulated payments ecosystem. Ripple also reached a major U.S. milestone when Bitnomial launched the first CFTC-approved XRP spot product. This move places XRP beside commodities such as Treasuries on a federally regulated exchange. Markets have not priced this transformation yet, leaving a wide gap between Ripple’s operational dominance and XRP’s market performance.

On-Chain Data Reveals a Structural SplitThe XRP Ledger shows its highest transaction velocity of the year at 0.0324, marking strong network usage. Open interest climbed to $3.85 billion while funding rates stayed negative, which confirms heavy short positioning. A regional concentration also emerges: Upbit holds more than six billion XRP, far above Binance at 2.6 billion. The imbalance introduces the risk of region-based liquidation waves during volatility spikes. Liquidity remains deep and participation strong, yet direction stays capped by pressure from leveraged traders.

Long-Term Holders Rotate as Whales Step InLong-term holder dormancy dropped ninety-one percent since mid-November, signaling that older coins rarely move. At the same time, cohorts that held XRP for six months to three years trimmed positions and locked in profits. Institutions absorbed much of that volume through ETF demand, which removed nearly half a percent of total supply from circulation as ETFs crossed one billion dollars in assets under management. Whales keep buying while early holders reduce exposure. This rotation delays any strong recovery but builds the foundation for a future supply squeeze once distribution slows.

XRP now enters a rare moment where institutional strength outweighs retail fear, setting the stage for a potential shift once the market resolves its internal pressure.

The Bitcoin price has had a mixed performance over the past week, with both sides of the market divide struggling to establish dominance. In the latest battle between the bulls and bears, the premier cryptocurrency appears to be succumbing to pressure from the latter group.

As this weekend approached, the Bitcoin price retreated from its latest local high of around $94,000 to beneath the psychological $90,000 level. This latest correction has prompted questions in the crowd, with investors wondering whether it is just a brief obstacle or the end of the recovery.

Why $80,500 Could Be The Next Local Low For BTC
In a December 5 post on the social media platform X, Alphractal CEO and founder shared insight into the latest Bitcoin price decline below $90,000. The on-chain expert revealed that losing the $89,800 level is the more relevant occurrence in the latest price downturn.

In a previous post on X, Wedson evaluated the likely trajectory of the Bitcoin price should it lose the $89,800 level. The crypto pundit revealed that losing this price mark could lead to an accumulation pattern for the bulls or a redistribution phase for the bears.

While the accumulation period for the bulls would initially coincide with lower prices, it eventually leads to a Bitcoin price return to above the latest local high. Meanwhile, a redistribution phase could see the bears push the flagship cryptocurrency to around the $70,000 mark.

Source: @joao_wedson on X
According to the Alphractal CEO, the price of BTC also failed to hold the key on-chain levels, strengthening the probability of a broader price sideways phase. “Sideways action is the cause — the big pumps or dumps are just the effect,” Wedson had earlier stated in his previous X post.

Furthermore, Wedson noted that the next level to watch is $86,500, which, if lost, opens the very high possibility for the formation of a new local low around $80,500. This local low could provide a perfect spot for investors to buy the dip and enter the market.

Bitcoin Price Overview 
As mentioned earlier, the past week has been one of highs and lows for the premier cryptocurrency, plummeting to as low as $84,600 on Monday, December 1. After a shaky start to the month, the Bitcoin price recovered strongly to around $94,000 on Thursday, December 4.

As of this writing, the market leader is valued at around $89,415, reflecting an over 3% price decline in the past 24 hours. According to data from CoinGecko, the price of Bitcoin has been down by nearly 10% in the past year.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView

Bitcoin-linked treasury stocks are losing their premium just as on-chain capitulation spikes to a new high. The combination shows leveraged equity bets and spot holders taking heavy losses at the same time. 

Galaxy Says Bitcoin Treasury Trade Hits Limit as Premiums DisappearGalaxy Research says the bitcoin “digital asset treasury” trade has reached a turning point as once-rich equity premiums vanish and stock issuance turns from growth tool into drag.

In a December 4 report, the firm revisits its July warning that the digital asset treasury, or DAT, model only works while a company’s shares trade above the value of its underlying bitcoin holdings. At that time, stocks such as Strategy, Metaplanet, Semler Scientific and Nakamoto traded at steep premiums to their bitcoin net asset value, which allowed them to issue new shares and use the proceeds to buy more BTC.

Galaxy describes that structure as a kind of liquidity derivative. The model relies on equity staying above BTC net asset value so that each new share increases, rather than reduces, bitcoin per share. Once the premium disappears, the feedback loop reverses.

According to the report, that reversal is now underway. Bitcoin has dropped from around 126,000 dollars in October to as low as 80,000 dollars, and it trades near 92,000 dollars at the time of writing. The move followed an October 10 deleveraging event that forced liquidations in futures markets, cut open interest and left liquidity weaker into the fourth quarter. Those conditions, Galaxy says, have pushed investors toward a risk-off stance and slowed inflows into crypto exchange-traded funds.

For DAT companies, the impact has been sharp. As BTC fell and risk appetite faded, bitcoin net asset value per share dropped and equity premiums compressed. In many cases, shares now trade at or below the value of the bitcoin they represent. That shift means new stock offerings no longer provide accretive capital to buy more BTC and instead dilute existing holders if issued below NAV.

Galaxy focuses on four firms as case studies: Strategy, which it cites as the largest and most visible corporate bitcoin holder; Metaplanet in Japan; Semler Scientific; and Nakamoto, now listed via its merger with Kindly MD under the NAKA ticker. Together, they show how a high-beta equity trade can move when conditions change.

Galaxy Report Shows Bitcoin Treasury Stocks Flip From Premiums To Sharp DrawdownsThe report highlights deep drawdowns across these stocks since their 2025 highs. Nakamoto’s share price has fallen more than 98 percent, which Galaxy compares to the kind of wipeout seen in memecoin markets. By contrast, bitcoin itself is down about 30 percent from its peak, underscoring how equity, issuance and balance-sheet leverage magnified losses on the way down after boosting gains earlier in the year.

Unrealized profit and loss figures show the same shift. Galaxy cites Metaplanet’s public dashboard, noting that the company reported more than 600 million dollars in unrealized bitcoin profits in early October. By December 1, with BTC lower, that position showed roughly 530 million dollars in unrealized losses instead. The report adds that Metaplanet and Nakamoto now hold bitcoin at an average cost above 107,000 dollars per coin, leaving their current unrealized PnL firmly negative at recent prices.

Metaplanet Unrealized Bitcoin Losses. Source: Galaxy Research

A comparison between data from July and updated figures for December illustrates how fast equity premiums have compressed. In mid-summer, Metaplanet traded at about 236 percent of its bitcoin NAV. Today, Galaxy says, premiums for Strategy, Metaplanet and Semler Scientific have “compressed mightily” and often sit near zero or at a discount compared with their underlying holdings.

Galaxy concludes that the first phase of the bitcoin treasury trade has likely run its course. The original model, built on issuing stock at a premium and recycling the proceeds into more BTC, has met a natural boundary condition: once shares trade at or below NAV, issuance becomes a tax on holders instead of a growth engine. 

Equity Premium To Bitcoin NAV Compression. Source: Galaxy Research

From here, the report says, the sector faces a period defined by compressed premiums, balance-sheet stress and a greater focus on liquidity management rather than pure bitcoin accumulation.

Bitcoin Capitulation Metric Surges to Record LevelMeanwhile, Bitcoin’s capitulation metric has climbed to a new all-time high, signaling the strongest wave of forced selling pressure recorded in this cycle. The chart shared by CryptoGoos shows the capitulation line spiking sharply as price moves lower, creating its widest divergence since early 2024. The move reflects heavy realized losses as holders sell into declining markets.

Bitcoin Capitulation Metric And Price. Source: Glassnode / X

The metric measures how intensely investors lock in losses during downturns. When it rises while price falls, it often indicates that weaker hands are exiting positions at scale. This trend has accelerated in recent weeks, and the latest reading marks the steepest jump in more than a year.

At the same time, Bitcoin’s price remains well below its mid-2025 highs. The chart shows that previous capitulation spikes aligned with local bottoms or periods of market stress. However, the current spike exceeds all earlier levels, suggesting unusually strong pressure across the market as long-term and short-term holders both realize losses at the same time.

The surge highlights a market environment defined by volatility, reduced liquidity, and forced selling as leveraged positions unwind.

On December 6, 2025, BlackRock made headlines with its substantial purchase of $28.7 million in Ethereum (ETH), marking a significant moment in the growing institutional interest in digital assets. This acquisition is part of a broader trend where major financial powerhouses are increasingly investing in cryptocurrencies, driven by their potential to yield high returns and serve as a hedge against traditional market volatility.

BlackRock, the world’s largest asset management firm, has long been at the forefront of financial innovation. With assets under management exceeding $10 trillion, the company’s moves are closely monitored by investors and analysts alike. This recent Ethereum purchase is more than just a financial transaction; it signals a deepening confidence in the viability of cryptocurrencies as stable long-term investments. Ethereum, the second-largest cryptocurrency by market capitalization, is particularly appealing due to its expansive blockchain technology that supports smart contracts and decentralized applications.

The timing of BlackRock’s investment is notable. The cryptocurrency market has been experiencing a resurgence following a difficult period marked by a series of regulatory challenges and market corrections. Over the past year, Ethereum’s value has seen significant fluctuations, but the recent bullish trend indicates a renewed optimism among investors. This environment, coupled with BlackRock’s purchase, could potentially catalyze further interest from other institutional investors, reinforcing the narrative that digital currencies are becoming an essential component of diversified investment portfolios.

One reason for the increased interest in Ethereum specifically is the anticipated impact of the Ethereum 2.0 upgrade, which aims to enhance the network’s scalability, security, and sustainability. By transitioning from a proof-of-work to a proof-of-stake model, Ethereum 2.0 has the potential to decrease energy consumption and increase transaction speed. These improvements are critical as they address some of the major criticisms of blockchain technology, particularly concerning environmental impact and efficiency.

Parallel to BlackRock’s move, BitMine, another significant player in the crypto mining industry, is aggressively expanding its Ethereum holdings. BitMine’s strategy reflects a broader industry push to support the infrastructure of blockchain networks as they evolve. Mining firms are focusing on acquiring more cryptocurrencies to leverage their existing technology and infrastructure investments, betting on the long-term value increase of these digital assets.

The institutional embrace of cryptocurrencies is not without its challenges. Regulatory uncertainty continues to loom over the market, particularly in the United States. The lack of a clear regulatory framework can pose risks to institutional investors who require compliance with stringent financial regulations. Furthermore, while the adoption of cryptocurrencies is increasing, their inherent volatility remains a concern. Sudden price swings can lead to substantial financial losses, a risk that institutional investors must carefully manage.

On a global scale, countries like Switzerland and Singapore have taken a more progressive stance toward cryptocurrency regulation, creating environments that encourage innovation and investment. This has put pressure on other financial hubs to develop clear and supportive regulatory policies. In contrast, countries with stricter regulations may inadvertently stifle innovation and push crypto companies to relocate to more favorable jurisdictions.

The rise of decentralized finance (DeFi) and non-fungible tokens (NFTs) has also contributed to Ethereum’s appeal. These sectors, primarily built on the Ethereum blockchain, have seen explosive growth, generating billions in value and attracting entrepreneurs and investors worldwide. DeFi applications offer financial services without traditional intermediaries, while NFTs provide digital ownership solutions across various industries. As these sectors mature, Ethereum’s role as the foundational layer for these innovations may further solidify its status as a critical asset in the digital economy.

An interesting aspect of this trend is the potential impact on traditional financial institutions. As more capital flows into cryptocurrencies, banks and investment firms may need to adapt their strategies to accommodate client demand for digital assets. This shift could lead to increased competition and innovation within the financial sector, as companies strive to offer competitive crypto-related services and products.

Despite the enthusiasm surrounding cryptocurrencies, caution is warranted. The crypto market is still young and developing, and unforeseen technological or regulatory challenges could impact its future growth trajectory. Moreover, as digital currencies become more intertwined with global financial systems, the potential systemic risks associated with their widespread adoption could attract greater regulatory scrutiny.

In addition to these factors, the energy consumption of cryptocurrency mining remains a contentious issue. Although Ethereum’s transition to a proof-of-stake model promises significant energy savings, the broader industry must continue to address sustainability concerns. As climate change becomes an increasingly urgent priority globally, the environmental footprint of blockchain technologies will likely come under greater examination.

In summary, BlackRock’s substantial investment in Ethereum underscores a transformative moment in the financial industry. As institutional interest in cryptocurrencies grows, digital assets are poised to play an increasingly crucial role in investment strategies worldwide. However, this burgeoning trend must navigate a complex landscape of regulatory, technological, and environmental challenges. The future of cryptocurrencies will depend on how effectively these issues are addressed and how the industry evolves to meet the demands of both innovation and sustainability.

Post Views: 8

The crypto market has slipped into one of its most unstable phases of the year—a pattern often seen near year-end, but this time the pressure feels different. While major altcoins like Solana are losing momentum, Bitcoin’s retreat below $90,000 has pushed sentiment deep into fear. With the SOL price now drifting toward the crucial $130 support, traders are beginning to question whether this fade is merely a shakeout… or the first signal of a larger trend shift.

Solana has entered a critical price zone as heightened market volatility drags major altcoins back toward key supports. After failing to sustain above its recent range highs, SOL has slipped toward the $130 region, a level that has repeatedly acted as a make-or-break point for trend continuation. With sentiment weakening and sellers pressing harder, traders are now watching whether Solana can defend this support or if the current pullback signals a deeper shift in short-term momentum.

The 4-hour chart shows SOL trading within a well-defined horizontal range, with strong resistance at $145–$150 and support at $120–$125. Price is currently hovering near the mid-range after a rejection from the upper boundary. Momentum indicators are attempting to stabilize: the MACD is flattening after a bearish crossover, while the Stoch RSI is deeply oversold and beginning to curl upward, hinting at a possible short-term bounce. However, failing to reclaim $138 may reopen the path toward lower support.

ConclusionSolana is entering a pivotal phase where neither bulls nor bears have a clear upper hand. The next reaction around the $130–$138 zone will decide whether SOL remains in its multi-week consolidation or slips into a deeper correction. Oversold indicators suggest that a short-term bounce is possible, but traders shouldn’t mistake that for a confirmed trend reversal—not unless Solana can reclaim the $145 resistance with conviction.

For now, SOL’s trajectory hinges less on its own fundamentals and more on Bitcoin’s ability to stabilize above key psychological support. If BTC steadies, SOL has room to recover; if not, a retest of $120–$125 becomes increasingly likely.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Georgia has taken a new step toward using modern digital systems in its public sector. The country’s Ministry of Justice has signed a memorandum of understanding (MOU) with Hedera, a major blockchain project. The agreement will bring safer and more transparent digital services to the nation.
The Minister of Justice, Paata Salia, met with Hedera representatives to explore how the two sides can work together. Their talks focused on building tools that make public records easier to manage and harder to tamper with.

Institutions. Enterprises. Governments 🇬🇪

Today, we unveil an MOU with the Ministry of Justice of Georgia (@justice_geo) – positioning the nation to implement @Hedera across the public sector.https://t.co/3fgwnx3kLI pic.twitter.com/wpkWt1mK8Y

— Hedera Foundation (@HederaFndn) December 2, 2025

Plan to Move Public Data to Blockchain

One of the main ideas on the table is moving data from the National Agency of Public Registry to the Hedera network. Government officials believe this can help protect property records, reduce errors, and make the system more open to the public.

Hedera’s technology can record information in a way that cannot be changed later. This gives citizens more trust in how their property rights are handled. It also helps government workers process records faster and more safely.

Exploring Real Estate Tokenization

During the meeting, Hedera’s team also learned about “Smart Contract,” a service already used by Georgia’s Public Registry. The service helps automate legal steps for property-related actions.

Hedera is the institutional-grade network. https://t.co/IneMINFRl4 pic.twitter.com/HfatxL9pir

— Hedera Foundation (@HederaFndn) December 3, 2025

Both sides discussed new ways to expand this service. One idea is the tokenization of real estate. This means turning property rights into digital units that can be stored or transferred more easily. Tokenization could open doors to faster transactions, clearer ownership records, and better access for citizens.

Next Steps for the Partnership

To push the work forward, Georgia will form joint groups made up of experts from the Ministry of Justice, the Public Registry, and Hedera. These groups will study how the technology can fit into existing public systems and prepare for real-world use.

 The agreement marks a major moment for Hedera and Georgia. If the plan succeeds, the project could become a model for how countries use blockchain to improve trust and safety in public records.

Read next: Hedera HBAR – Is This Altcoin’s Run Over?

Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.

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Ethereum is showing two major signals this quarter: record-breaking stablecoin settlement flows and a new long-term accumulation pattern highlighted by market analysts. Fresh data from Token Terminal place Q4 stablecoin transfers near the 6-trillion-dollar mark, already above last quarter’s total with weeks still remaining.

At the same time, chart analysts say Ethereum’s multi-year structure has moved into a Wyckoff accumulation phase, reflecting quieter positioning beneath the surface as the market resets after the 2022–2023 decline.

Ethereum Stablecoin Volume Nears 6 Trillion Dollars in Q4Ethereum is on pace to process nearly 6 trillion dollars in stablecoin transfers during the fourth quarter, according to new data from Token Terminal. The chart shows that Q4 activity has already surpassed Q3 levels even though the quarter is not finished. This marks one of the strongest periods of on-chain settlement for Ethereum as demand for stablecoin transfers continues to accelerate across DeFi and exchange infrastructures.

Ethereum Stablecoin Transfer Volume (Quarterly). Source: Token Terminal

The figure also places Ethereum ahead of the most recent quarterly transaction volumes reported by Visa and Mastercard. While the networks measure traditional payment activity and Ethereum records on-chain transfer volume, the scale gap this quarter remains notable. It highlights how much value now moves through blockchain rails as stablecoins become a preferred settlement tool for trading, remittances, and institutional flows.

The jump in activity reinforces Ethereum’s position as the primary settlement environment for stablecoins. USDT, USDC, and other dollar-pegged tokens account for most of the volume, driven by increased use across decentralized exchanges, lending pools, and cross-chain bridges. With a month still left in the quarter, analysts expect the final Q4 figure to become Ethereum’s largest stablecoin volume reading to date.

Analyst Maps Ethereum Into New Wyckoff Accumulation PhaseCrypto GEMs argues that Ethereum has entered a fresh accumulation zone under the Wyckoff market-cycle framework, based on a long-term price chart that labels prior mark-up, distribution, mark-down, and accumulation phases. The current range follows the 2022–2023 decline, which the analyst treats as the last mark-down before a potential trend reset.

Ethereum Wyckoff Cycle Phases. Source: Crypto GEMs / TradingView

In this reading, the sideways structure since 2023 mirrors earlier periods when large players quietly built positions ahead of stronger advances. Crypto GEMs says past cycles on the chart show that similar accumulation blocks have preceded powerful mark-up legs, and projects that a new advance could eventually carry Ethereum toward the 20,000-dollar area by 2026.

The post notes that sentiment remains divided, with skeptical traders viewing the range as exhaustion while more optimistic holders treat it as a chance to increase exposure. Any Wyckoff-style mark-up phase would still depend on broader liquidity, macro conditions, and sustained demand for Ethereum’s network and applications.

Journalist

Posted: December 6, 2025

The competition to bring Sui to retail investors is intensifying. 

Just days after 21Shares launched the first Sui‑based ETF on Nasdaq, a major rival has entered the market.

Grayscale files S-1 for new SUI ETF
Grayscale has filed an S-1 with the SEC to launch the “Grayscale Sui Trust,” a spot-style ETF designed to provide direct exposure to the SUI token.

Its goal is simple: to mirror SUI’s market performance, minus fees, giving long-term investors a regulated, hassle-free way to hold SUI without managing the asset directly.

This move extends Grayscale’s single-asset strategy beyond Bitcoin and Ethereum.

In fact, this swift move signals that the race for Sui [SUI] investment products is already becoming a direct competition.

21Shares’ focus on short-term gains
The 21Shares 2x Long Sui ETF, under the ticker TXXS has already gone live. 

Listed on Nasdaq following approval from the SEC, this is a derivatives-based, leveraged ETF. This means it does not hold the actual SUI tokens.

Instead, it uses financial contracts to provide two times (2x) the daily performance of SUI. This product is specifically aimed at active traders and speculators.

It allows them to amplify short-term movements in the SUI price without ever having to hold the underlying crypto, making it a powerful tool for those focused on quick gains or losses.

The regulatory difference explains the timing
The two Sui products are rolling out at different speeds, largely due to the SEC’s approach to their structures.

For years, the SEC has delayed spot ETFs for assets like Bitcoin and Ethereum. In contrast, it has been quicker to approve derivatives‑based funds, which regulators view as less vulnerable to manipulation and custody risks.

This explains why 21Shares launched first. Its product uses a leveraged, derivatives‑based model that the SEC already understands and has approved more readily.

Meanwhile, Grayscale is pursuing a path that is slower and subject to heavier scrutiny, much like the long approval process faced by Bitcoin and Ethereum [ETH] spot ETFs.

As both firms compete for dominance in the Sui market, the token’s price continues to mirror the broader volatility of the crypto sector.

At press time, SUI was trading at $1.53, showing a 5.01% drop over the last 24 hours. This suggests that the initial news of the ETF race has yet to translate into immediate, sustained positive price momentum.

However, the bigger takeaway is the continuing institutional focus on altcoins beyond the giants.

Altcoin ETF era and more
This aggressive entry into the Sui ecosystem by two major financial firms confirms that the “Altcoin ETF era” is fully underway.

This trend is reinforced by recent trading data, which shows a clear rotation of investor capital.

While Ethereum ETFs recently recorded significant outflows worth $75.2 million, Solana [SOL] ETFs recorded inflows of $15.7 million, and Ripple [XRP] ETFs pulled in $10.23 million.

This dynamic flow of money strongly suggests that institutional investors are actively seeking exposure to high-growth, next-generation blockchains.

Final Thoughts

The entry of Grayscale and 21Shares into Sui highlights growing institutional demand for altcoin ETFs.
Capital rotation from Ethereum into Solana, Ripple, and now Sui signals a broader shift toward next‑generation blockchains.

This week’s HYPE price update highlights a sharp shift in sentiment as the broader crypto market downturn pressures Hyperliquid’s native token. Despite strong revenue fundamentals and bold long-term projections, short-term weakness and declining open interest raise important questions for the HYPE price prediction outlook.

Revenue Strength Fuels Long-Term Interest in HYPEOne of the biggest drivers of attention around HYPE crypto comes from the company’s extraordinary financial profile. Hyperliquid is generating an estimated $1.15 billion in annual recurring revenue with a team of only 11 employees, making it one of the most profitable and lean operations in the sector, per David Schamis, CEO of Hyperliquid Strategies.

David said $HYPE will go 20× from current MarketCap

“Anything with 11 employees and a billion one of cash flow with no outside capital (VC's) is very very interesting”

(Hyperliquid has generating around $1.15 billion in ARR and there are 11 employees) pic.twitter.com/kwJf04ELPa

— BabaKarl (@BabaKarl) December 5, 2025 This level of efficiency and scale has prompted David to ambitiously project HYPE’s valuation growth trajectory significantly higher than today’s. He said in a video clip that he expects the token could achieve a 20× expansion from current market cap levels, provided the ecosystem continues compounding revenue without reliance on outside capital.

Although this narrative supports a strong long-term HYPE price forecast, the immediate challenge lies in the market environment, where macro weakness is overpowering fundamentals.

Short-Term Outlook Hinges on Key Support LevelsWhile long-term optimism persists, the near-term structure of the HYPE price chart is displaying decisive pressure. Technical discussions across the community highlight that the $30–$31 range is a critical support zone. If this level fails, the HYPE price USD could slide sharply toward the $20 region, reflecting broader capitulation across high-beta altcoins.

Conversely, if the token manages to hold this support and reclaim upward momentum, analysts note that a meaningful reversal could emerge into 2026, especially once the broader crypto market stabilizes. This makes the current range one of the most important regions for traders tracking the next move.

Open Interest Decline Signals Lower Risk AppetiteAnother factor shaping market expectations is the dramatic decline in trading activity. During Bitcoin’s all-time high period earlier in October, Hyperliquid recorded open interest (OI) near $16 billion, supported by intense trading across BTC and ETH. However, by early December, OI has fallen to around $6 billion, marking a significant contraction.

This drop suggests that traders are taking fewer positions, reducing leverage exposure, and acting with greater caution amid ongoing market pullbacks. At the same time, the pattern also implies that once leading assets such as Bitcoin and Ethereum regain strength, the derivatives activity on Hyperliquid and possibly the HYPE price itself could see a strong resurgence.

Altogether, reduced risk-taking, weakening technical structure, and exceptional revenue fundamentals all converge to define this week’s evolving narrative around Hyperliquid.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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BitMine expanded its Ethereum holdings this week with nearly $200 million in fresh purchases, deepening its lead as the largest single holder of the asset.

The move comes as ETH trades near a one-month low and follows a period of steady distribution by medium-sized wallets, according to on-chain data.

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BitMine’s Acquisition Comes Amid Smaller ETH Holders OffloadLookonchain, citing Arkham Intelligence, reported that BitMine bought 22,676 ETH from BitGo on December 6 for about $68.7 million. The transaction suggests an average purchase price of roughly $3,028 per token.

Notably, the firm had already acquired 41,946 ETH a day earlier from FalconX and BitGo for about $130.8 million.

These deals build on BitMine’s disclosure last week that it held 3.73 million ETH as of November 30. At current prices, the stash is worth more than $11 billion.

BitMine also reported holdings of 192 BTC, a $36 million position in Eightco Holdings, and $882 million in cash.

Strategy ETH Reserve data shows the company now holds more ETH than its next five peers combined, including SharpLink and the Ethereum Foundation.

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The scale of its treasury places BitMine as the second-largest corporate crypto holder by value, behind only Michael Saylor-led Strategy, the largest corporate holder of Bitcoin.

The latest purchases come during a soft stretch for ETH. BeInCrypto data shows the token has fallen more than 10% over the past month to about $3,027.

Alphractal’s Ethereum Accumulation Heatmap indicates that wallets holding 1 to 10,000 ETH sold heavily near this cycle’s recent peak. Those addresses continue to offload tokens, adding pressure to the market.

Ethereum Accumulation Trend. Source: AlphractalHowever, larger whales with more than 10,000 ETH have shown limited activity, with light distribution but no strong accumulation.

Despite the weakness, several analysts maintain a bullish long-term view.

Fundstrat CEO and BitMine Chair Tom Lee said Ethereum could reach $12,000 if Bitcoin climbs to $250,000, citing the historical relationship between both assets and growing demand for tokenized real-world assets.

He added that ETH could rise as high as $62,000 if its valuation ratio to Bitcoin expands over time.

Bitcoin markets opened the week with a mix of on-chain surprises and technical warnings. Dormant Casascius holdings worth tens of millions of dollars moved for the first time in more than 13 years, while two analysts split over whether the latest price action marks the start of a bear market or a make-or-break test of support near 90,000 dollars.

Dormant Casascius Coins Move After More Than 13 YearsTwo large batches of Bitcoin linked to Casascius physical coins have moved on-chain after sitting dormant for more than 13 years, according to alerts from TimechainBot. The bot reported that transactions of about 1,000.00287192 BTC and 1,000 BTC were broadcast in consecutive blocks 926,566 and 926,567, ending a long period of inactivity for the addresses.

Dormant Casascius BTC Transactions Alert. Source: TimechainBot / TimechainIndex

Casascius coins are physical tokens created in Bitcoin’s early years, each loaded with a fixed amount of BTC and protected by a hidden private key under a tamper-evident hologram. When holders peel the hologram and sweep the key, the underlying coins can be spent on the blockchain. In this case, the movements suggest that owners of high-value Casascius holdings have decided to redeem or relocate the funds.

Each 1,000-BTC tranche would be worth tens of millions of dollars at current market prices, placing the transfers among the larger coin awakenings seen this year. On-chain analysts are now tracking the destination of the funds to see whether they move to exchanges, custodial services, or new long-term storage addresses.

Analyst Flags Possible Bitcoin Bear Market SignalTitan of Crypto says Bitcoin may have entered a bear market in the first week of November, based on a divergence between BTC price action and USDT dominance. In his chart, Bitcoin’s weekly trend line slopes upward while USDT’s share of the crypto market begins to turn higher from a falling line, echoing a similar pattern that appeared before the 2021 cycle peak.

Bitcoin vs USDT Dominance Divergence Source: Titan of Crypto / TradingView

According to the analyst, this combination of a rising stablecoin dominance and an extended Bitcoin advance has previously marked exhaustion in bullish trends. He argues that the recent move could signal a shift from risk-on positioning into stablecoins as traders take profit and reduce exposure. However, confirmation would still depend on how Bitcoin behaves around key support levels in the coming weeks.

Analyst Says Bitcoin Must Reclaim 90,000 Dollars After BounceMeanwhile, Bitcoin bounced after retesting support near the 88,000-dollar area, but trader Ted Pillows says the move remains fragile while price trades under 90,000 dollars. He views 90,000 dollars as a short-term pivot: a clean break and daily close above that level would confirm that buyers have regained control and open room toward the next resistance band around the low-90,000s. The chart shows stacked supply zones above, with heavier resistance sitting closer to 98,000–102,000 dollars.

Bitcoin Support And Resistance Levels. Source: Ted Pillows / TradingView

However, Ted warns that rejection below 90,000 dollars would keep Bitcoin locked in a tight range and likely send it back to the 87,000–88,000-dollar support. A clear loss of that floor could expose deeper demand areas in the low-80,000s, where an earlier consolidation zone appears on the chart. For now, the structure leaves BTC at an inflection point, with traders watching whether price can flip 90,000 dollars from resistance into support.

COPENHAGEN, Denmark--(BUSINESS WIRE)--Genmab A/S (Nasdaq: GMAB) today announced updated results from two ongoing clinical trials evaluating the efficacy and safety of epcoritamab-bysp, a T-cell engaging antibody administered subcutaneously, as a monotherapy and in combination with other standard of care treatments in adult patients with diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma (FL). Results from two arms of the EPCORE® NHL-2 trial, evaluating first-line, fixed-treatment dur.

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.

Follow-up data from CARTITUDE-4 show at least 80 percent of as-treated standard-risk patients remained progression and treatment-free following a single infusion as early as second line Data suggest stronger immune fitness in earlier lines may be associated with longer progression free survival ORLANDO, Fla. , Dec. 6, 2025 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) announced today updated results from the Phase 3 CARTITUDE-4 study supporting durable treatment-free remissions as early as second line treatment with CARVYKTI® (ciltacabtagene autoleucel; cilta-cel).

Media Release

COPENHAGEN, Denmark; December 6, 2025

New two- and three-year EPCORE® NHL-2 follow-up data evaluating epcoritamab in combination with standard of care regimens demonstrate remission in patients with DLBCL and FLLatest EPCORE DLBCL-3 trial results show encouraging overall response and complete response rates for epcoritamab monotherapy in newly-diagnosed, elderly patients with DLBCL Data presented at the 67th Annual Meeting and Exposition of the American Society of Hematology (ASH) reinforce the potential utility of epcoritamab in earlier lines of therapy with a fixed treatment duration
Genmab A/S (Nasdaq: GMAB) today announced updated results from two ongoing clinical trials evaluating the efficacy and safety of epcoritamab-bysp, a T-cell engaging antibody administered subcutaneously, as a monotherapy and in combination with other standard of care treatments in adult patients with diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma (FL). Results from two arms of the EPCORE® NHL-2 trial, evaluating first-line, fixed-treatment duration epcoritamab in combination with chemotherapies, demonstrated overall response rates (ORR) of 93% (Arm 8) and 98% (Arm 1) in patients with newly-diagnosed DLBCL, while a third arm (Arm 3) demonstrated a three-year overall survival (OS) rate of 96% in patients with FL following first-line combination treatment.

In EPCORE DLBCL-3, the ORR was 73% in elderly patients with DLBCL treated with first-line, fixed-duration epcoritamab monotherapy who were unable to receive standard anthracycline-based chemotherapy. The study also showed that 54% of patients were progression free and 65% were alive at one year. The results from both studies were presented today in two oral presentations (abstracts 63 and 64) and two poster presentations (abstracts 1955 and 5357) at the 67th Annual Meeting and Exposition of the American Society of Hematology (ASH), in Orlando, Florida.

EPCORE® NHL-2, Arm 8 Results
Two-year follow up from Arm 8 of the EPCORE NHL-2 trial (abstract 64) showed fixed-duration epcoritamab plus rituximab plus dose-attenuated cyclophosphamide, doxorubicin, vincristine, and prednisone (R-mini-CHOP) demonstrated an ORR of 93% and complete response (CR) rate of 86% in elderly patients with newly diagnosed DLBCL ineligible for full-dose R-CHOP due to age or comorbidities (n=28). Responses were maintained at two years for an estimated 79% of all responders. Additionally, 20 out of 22 patients who completed the eight cycles of treatment had a CR at the end of treatment and 90% of them remained in CR nearly two years later. Minimal residual disease (MRD) negativity was reported in 20 out of 21 evaluable patients, including clinically relevant sub-groups; this was achieved in 16 patients by the start of cycle 3, and 12 maintained this status through the start of cycle 6.

Treatment-emergent adverse events (TEAEs) were consistent with previous studies evaluating epcoritamab and included Grade ≥3 infection in 32% (n=9) of patients, occurring within the first 6 cycles of treatment in the majority (7/9) of these patients. TEAEs led to epcoritamab discontinuation in 11% (n=3) of patients, including Grade 2 rhinitis, Grade 2 cytokine release syndrome (CRS), and Grade 5 confusional state and cytomegalovirus infection reactivation in a 90-year-old patient with a recent acute cerebrovascular accident.

“Despite an older population of newly diagnosed diffuse large B-cell lymphoma, the outcomes observed in Arm 8 of the EPCORE NHL-2 evaluating fixed-duration epcoritamab plus R-mini-CHOP are encouraging,” said Chan Cheah, M.D., Sir Charles Gairdner Hospital and the University of Western Australia, Nedlands, Australia. “These results, along with those from other arms of the trial, support the potential for combinations of epcoritamab with standard of care treatment across a range of disease settings and patient populations.”

EPCORE® NHL-2; Arm 1 Results
In Arm 1 (abstract 1955), treatment with fixed-duration epcoritamab plus R-CHOP resulted in durable remissions lasting more than three years in most patients with newly diagnosed DLBCL and high International Prognostic Index (IPI) scores, an indicator of poor prognosis (n=47). After a median follow up of 44.2 months (95% CI, 38.9-44.4), the ORR was 98% and the CR rate was 85%. An estimated 74% of CRs were ongoing at three years. High CR rates were observed regardless of IPI score (IPI 3, 86% vs IPI 4-5, 83%). At three years, an estimated 69% of patients remained progression free and 83% were alive; survival outcomes were consistent regardless of IPI score (3 vs 4–5). Efficacy outcomes were also similar across subgroups based on age (≤60 vs >60 years), tumor size (<10 vs ≥10 cm), or cell of origin (germinal center B cell [GCB] vs non-GCB). By cycle 3, 86% of MRD evaluable patients were MRD negative and the reduction of circulating tumor DNA (ctDNA) levels was sustained through post-treatment follow-up in most patients with CR.

Serious and Grade ≥3 infections primarily occurred in the first six months of treatment, then rates decreased. Safety was consistent with prior reports. No new serious infections were reported in the post-treatment period. No new Grade 5 adverse events (AEs) were reported.

EPCORE® NHL-2; Arm 3 Results
Data from Arm 3 (abstract 5357) showed that treatment with fixed-duration epcoritamab plus bendamustine and rituximab (BR) for the first-line treatment of FL resulted in deep and durable responses at a median follow-up of 41.3 months. Three-year estimates for duration of response (DOR), duration of CR (DOCR), progression-free survival (PFS) and OS were 87%, 87%, 83% and 96%, respectively. PFS was consistently high overall and in both low- and high-risk subgroups. These results underscore the potential for long-term efficacy of this first-line treatment combination in FL.

No new safety signals were reported after the data cutoff/additional 11 months of follow up. Grade ≥3 TEAEs and serious TEAEs, including neutropenia and infection, primarily occurred in the first 24 weeks of treatment, coinciding with the epcoritamab plus BR treatment period, and rates improved over time during the epcoritamab monotherapy treatment period. Since the prior data cutoff, three patients experienced new COVID-19 infection events (Grade 1-2). There was a sustained reduction in peripheral CD4+ T cells, whereas peripheral CD8+ T cells expanded after the first full dose, resulting in a reduced CD4:CD8 ratio.

“The ongoing epcoritamab development program continues to generate positive data supporting its potential as a core therapy alone and in combination across a range of B-cell malignancies, both as an initial treatment and in later lines of therapy,” said Dr. Judith Klimovsky, Executive Vice President and Chief Development Officer of Genmab. “We look forward to progressing our research as we seek to advance treatment in these areas of critical need.”

EPCORE® DLBCL-3 Trial Results
Separately, new results from the ongoing Phase 2 EPCORE DLBCL-3 trial (abstract 63), for fixed-duration epcoritamab monotherapy in newly diagnosed elderly patients with DLBCL and comorbidities, were also presented.

An ORR of 73% was observed (n=60 response evaluable patients), and 62% of patients achieved a CR. Median time to response was 1.5 months, and median time to CR was 2.1 months; eight patients with a partial response or stable disease at first assessment achieved a CR at subsequent assessments. Median duration of response (mDOR) and median duration of CR (mDOCR) were not reached (NR). An estimated 70% of all responses and 78% of CRs were ongoing at one year. In the overall population (N=66), median PFS was 13.0 months (95% CI, 5.4–NR) and median OS was NR (95% CI, 13.0–NR). An estimated 54% of patients were progression free, and 65% were alive at one year. Additionally, MRD negativity in responders was also reached early and was maintained, with most becoming MRD negative by the third treatment cycle and sustained through post-treatment follow-up.

Safety was consistent with previous reports of epcoritamab monotherapy in this population. TEAEs occurred in 94% of patients, with CRS (71%), diarrhea (23%), and fatigue (23%) being most frequent (≥20%). CRS events were primarily low Grade (Grade 1: 38%; Grade 2: 29%; Grade 3: 5%), with most (92%) occurring in cycle 1; 98% of cases resolved by data cutoff. ICANS occurred in 18% of patients (Grade 1: 8%; Grade 2: 8%; Grade 3: 3%); 11/12 cases resolved by data cutoff. Neutropenia was reported in 16% of patients, 68% of patients had an infection of any Grade, and 23% had a Grade ≥3 infection. Two additional Grade 5 TEAEs (pneumonia, death) occurred since the previous disclosure.

“Elderly patients who are living with diffuse large B-cell lymphoma, particularly those with comorbidities, often are not able to tolerate standard treatment, creating a tremendous need for effective chemotherapy-free options,” said Umberto Vitolo, M.D.,Candiolo Cancer Institute in Turin, Italy. “The study showed that treatment with fixed-duration epcoritamab as a monotherapy demonstrated encouraging results in this population that typically has poor outcomes.”

The safety and efficacy of epcoritamab have not been established for these investigational uses.

About Diffuse Large B-Cell Lymphoma (DLBCL)
DLBCL is the most common type of non-Hodgkin lymphoma (NHL) worldwide, accounting for approximately 25-30 percent of all NHL cases.i In the U.S., there are approximately 25,000 new cases of DLBCL diagnosed each year.ii DLBCL can arise in lymph nodes as well as in organs outside of the lymphatic system, occurs more commonly in the elderly and is slightly more prevalent in men.iii,iv DLBCL is a fast-growing type of NHL, a cancer that develops in the lymphatic system and affects B-cell lymphocytes, a type of white blood cell. For many people living with DLBCL, their cancer either relapses, which means it may return after treatment, or become refractory, meaning it does not respond to treatment. Although new therapies have become available, treatment management can remain a challenge.

About Follicular Lymphoma (FL)
FL is typically an indolent (or slow-growing) form of non-Hodgkin lymphoma (NHL) that arises from B-lymphocytes and is the second most common form of NHL accounting for 20-30 percent of all cases.v About 15,000 people develop FL each year in the U.S.vi and it is considered incurable with current standard of care therapies.vii Patients often relapse and, with each relapse the remission and time to next treatment is shorter.viii Over time, transformation to diffuse large B-cell lymphoma (DLBCL), an aggressive form of NHL associated with poor survival outcomes, can occur in more than 25 percent of FL patients.ix

About the EPCORE® NHL-2 Trial
EPCORE NHL-2 is a Phase 1b/2 open-label interventional trial to evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics/biomarkers, immunogenicity, and preliminary efficacy of epcoritamab as a monotherapy and in combination with other standard of care agents in patients with B-cell non-Hodgkin lymphoma (B-NHL). The trial consists of two parts: Part 1 (Dose Escalation) and Part 2 (Dose Expansion). The primary objective of Part 1 is safety, and the primary goal of Part 2 is preliminary efficacy. The primary endpoint was overall response rate (ORR) based on best overall response per Lugano criteria. MRD negativity was assessed as a secondary endpoint.

More information on this trial can be found at https://www.clinicaltrials.gov/ (NCT: 04663347).

About the EPCORE® DLBCL-3 Trial
EPCORE DLBCL-3 is an open-label, randomized, global, Phase 2 trial to evaluate the efficacy and safety of epcoritamab as monotherapy or in combination with lenalidomide as first-line therapy for anthracycline-ineligible subjects with diffuse large B-cell lymphoma (DLBCL). This is a 2-stage trial. In Stage 1, eligible patients will be randomized to either epcoritamab monotherapy or epcoritamab plus lenalidomide. In Stage 2, additional patients may be enrolled at the treatment regimen selected for expansion. Each treatment cycle is 28 days. Patients will receive a maximum of 12 cycles (up to 1 year) of treatment. The primary objective is to evaluate the clinical efficacy of epcoritamab monotherapy or epcoritamab and lenalidomide. The primary endpoint is to achieve a complete response rate determined by Lugano criteria. Additional secondary endpoints include overall response rate, duration of response, duration of complete response, rate of minimal residual disease negativity, progression-free survival and overall survival.

More information on this trial can be found at https://www.clinicaltrials.gov/ (NCT:05660967).

About Epcoritamab 
Epcoritamab is an IgG1-bispecific antibody created using Genmab's proprietary DuoBody® technology and administered subcutaneously. Genmab's DuoBody-CD3 technology is designed to direct cytotoxic T cells selectively to elicit an immune response toward target cell types. Epcoritamab is designed to simultaneously bind to CD3 on T cells and CD20 on B cells and induces T-cell-mediated killing of CD20+ cells.x

Epcoritamab (approved under the brand name EPKINLY® in the U.S. and Japan, and TEPKINLY® in the EU) has received regulatory approval in certain lymphoma indications in several territories. Where approved, epcoritamab is a readily accessible therapy. Epcoritamab is being co-developed by Genmab and AbbVie as part of the companies' oncology collaboration. The companies will share commercial responsibilities in the U.S. and Japan, with AbbVie responsible for further global commercialization. Both companies will pursue additional international regulatory approvals for the investigational R/R FL indication and additional approvals for the R/R DLBCL indication. 

Genmab and AbbVie continue to evaluate the use of epcoritamab as a monotherapy, and in combination, across lines of therapy in a range of hematologic malignancies. This includes four ongoing Phase 3, open-label, randomized trials, among them a trial evaluating epcoritamab as a monotherapy in patients with R/R DLBCL compared to investigators choice chemotherapy (NCT04628494), a trial evaluating epcoritamab in combination with R-CHOP in adult patients with newly diagnosed DLBCL (NCT05578976), a trial evaluating epcoritamab in combination with R2 compared to chemoimmunotherapy in patients with previously untreated FL (NCT06191744), and a trial evaluating epcoritamab in combination with lenalidomide compared to chemotherapy infusion in patients with R/R DLBCL (NCT06508658). The safety and efficacy of epcoritamab has not been established for these investigational uses. Please visit www.clinicaltrials.gov for more information.

About Genmab 
Genmab is an international biotechnology company with a core purpose of guiding its unstoppable team to strive toward improving the lives of patients with innovative and differentiated antibody therapeutics. For 25 years, its passionate, innovative and collaborative team has invented next-generation antibody technology platforms and leveraged translational, quantitative and data sciences, resulting in a proprietary pipeline including bispecific T-cell engagers, antibody-drug conjugates, next-generation immune checkpoint modulators and effector function-enhanced antibodies. By 2030, Genmab’s vision is to transform the lives of people with cancer and other serious diseases with knock-your-socks-off (KYSO) antibody medicines.®

Established in 1999, Genmab is headquartered in Copenhagen, Denmark, with international presence across North America, Europe and Asia Pacific. For more information, please visit Genmab.com and follow us on LinkedIn and X.

Contact:        
David Freundel, Senior Director, Global Communications & Corporate Affairs
T: +1 609 613 0504; E: [email protected]

Andrew Carlsen, Vice President, Head of Investor Relations
T: +45 3377 9558; E: [email protected]

This Media Release contains forward-looking statements. The words “believe,” “expect,” “anticipate,” “intend” and “plan” and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with preclinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products or technologies obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab’s most recent financial reports, which are available on www.genmab.com and the risk factors included in Genmab’s most recent Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. Genmab does not undertake any obligation to update or revise forward looking statements in this Media Release nor to confirm such statements to reflect subsequent events or circumstances after the date made or in relation to actual results, unless required by law.

Genmab A/S and/or its subsidiaries own the following trademarks: Genmab®; the Y-shaped Genmab logo®; Genmab in combination with the Y-shaped Genmab logo®; HuMax®; DuoBody®; HexaBody®; DuoHexaBody®, HexElect® and KYSO®. EPCORE®, EPKINLY®, TEPKINLY® and their designs are trademarks of AbbVie Biotechnology Ltd.

i NHL Subtypes. Leukemia & Lymphoma Society. https://www.lls.org/lymphoma/non-hodgkin-lymphoma/nhl-subtypes. Accessed December 2025.
ii Diffuse large B-cell lymphoma (DLBCL) research. Blood Cancer United. https://bloodcancerunited.org/research/blood-cancer-research-development-progress/lymphoma/diffuse-large-b-cell-lymphoma-dlbcl. Accessed December 2025.
iii Sehn LH, Salles G. N Engl J Med. 2021;384:842-858.
iv Kanas G, Ge W, Quek RGW, et al. Leukemia & Lymphoma. 2022;63(1):54-63.
v Lymphoma Research Foundation official website. https://lymphoma.org/aboutlymphoma/nhl/fl/. Accessed November 2025.
vi Leukemia & Lymphoma Society. https://www.lls.org/research/follicular-lymphoma-fl. Accessed November 2025.
vii Ghione P, Palomba ML, Ghesquieres H, et al. Treatment patterns and outcomes in relapsed/refractory follicular lymphoma: results from the international SCHOLAR-5 study. Haematologica. 2023;108(3):822-832. doi: 10.3324/haematol.2022.281421.
viii Al-Tourah AJ, Gill KK, Chhanabhai M, et al. Population-based analysis of incidence and outcome of transformed non-Hodgkin's lymphoma. J Clin Oncol. 2008 Nov 10;26(32):5165-9. doi: 10.1200/JCO.2008.16.0283. Epub 2008 Oct 6. PMID: 18838711.
ix Rivas-Delgado A, Magnano L, Moreno-Velázquez M, et al. Response duration and survival shorten after each relapse in patients with follicular lymphoma treated in the rituximab era. Br J Haematol. 2018;184(5):753-759. doi:10.1111/bjh.15708.
x Engelberts PJ, et al. DuoBody-CD3xCD20 Induces Potent T-Cell-Mediated Killing of Malignant B Cells in Preclinical Models and Provides Opportunities for Subcutaneous Dosing. EBioMedicine. 2020;52:102625. doi: 10.1016/j.ebiom.2019.102625.

Media Release no. i27
CVR no. 2102 3884
LEI Code 529900MTJPDPE4MHJ122

Genmab A/S
Carl Jacobsens Vej 30
2500 Valby
Denmark

061225_MR_i27_ASH25_FixedDuration

December 06, 2025 9:36 AM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - December 6, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of American Depositary Shares ("ADS" or "ADSs") of WPP plc (NYSE: WPP) between February 27, 2025 and July 8, 2025, both dates inclusive (the "Class Period"), of the important December 8, 2025 lead plaintiff deadline.

SO WHAT: If you purchased WPP ADSs 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 WPP class action, go to https://rosenlegal.com/submit-form/?case_id=46121 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 December 8, 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 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 WPP's media arm; notably, that it was not truly equipped to handle the ongoing macroeconomic challenges while competing effectively and had instead begun to lose significant market share to its competitors. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the WPP class action, go to https://rosenlegal.com/submit-form/?case_id=46121 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.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277066

December 06, 2025 08:00 ET

 | Source:

Aptose Biosciences, Inc.

TUS+VEN+AZA triplet frontline therapy demonstrates high rates of efficacy and MRD-negative remissions in newly diagnosed AML patients with diverse mutationsSafety continues to be a notable hallmark of TUS-based therapies100% response rate (CR/CRh) at the two higher dose levels (80 and 120 mg TUS dose)CR/CRh observed in FLT3 wildtype subjects, representing ~70% of AML patientsCR/CRh observed in AML with TP53/complex karyotype, RAS, and MDS-related mutations SAN DIEGO and TORONTO, Dec. 06, 2025 (GLOBE NEWSWIRE) -- Aptose Biosciences Inc. (“Aptose” or the “Company”) (NASDAQ: APTO, TSX: APS), a clinical-stage precision oncology company developing highly differentiated targeted agents to treat hematologic malignancies, today featured clinical data for its lead compound tuspetinib (TUS) combined with standard dosing of venetoclax (VEN) and azacitidine (AZA) in a poster presentation at the 67th American Society of Hematology (ASH) Annual Meeting in Orlando, FL. Updated data from patients in the TUSCANY trial across all three cohorts, 40 mg, 80 mg or 120 mg TUS dose in TUS+VEN+AZA, reveal promising clinical safety and antileukemic activity and support the use of TUS in combination with standard of care treatment across a broad range of AML populations, including those with adverse mutations regardless of FLT3 mutation status.  

Poster title: “TUSCANY study demonstrates safety and efficacy of tuspetinib plus standard of care venetoclax and azacitidine in patients with newly diagnosed AML ineligible for induction chemotherapy”

Key Findings and Messages:

In newly diagnosed AML patients, TUS+VEN+AZA shows promising safety, tolerability and resilient efficacy, including MRD-negative remissions across a broad mutational spectrumHigh-quality clinical responses (CR/CRh): 90% across 40, 80 and 120 mg dose levels100% at the higher 80 mg and 120 mg dose levelsObserved in FLT3-WT, FLT3-ITD, and NPM1c genetic subgroupsObserved in biallelic TP53/complex karyotype and RAS adverse genetic subgroupsObserved in AML with MDS-related mutations MRD negativity: 78% by central flow cytometry in responding subjectsTUS targets VEN resistance mechanisms; inhibits kinase-driven abnormal signalingTwo subjects transitioned to stem cell transplantation and both returned for TUS maintenanceTUS+VEN+AZA triplet therapy was well tolerated with no dose-limiting toxicities (DLTs) across all evaluable TUS dose levels No DLTs including no prolonged myelosuppression for subjects in remission in Cycle 1No drug-related deaths, differentiation syndrome, QTc prolongation, or CPK elevation reported8/10 evaluable subjects experienced red cell and platelet transfusion independence for > 8 weeks after their best responseFebrile neutropenia was reported in 2 subjects (16.7%), with 1 subject related to TUS At the recently enrolled 160 mg dose level, preliminary findings show patients achieving early blast clearance with MRD-negativity and formal responses in the first few weeks of treatment (not included in poster data cut). “Tuspetinib, as part of a triple drug therapy, continues to perform well, achieving 100% clinical response in the two higher doses we have evaluated to date,” said Rafael Bejar, MD, PhD, Chief Medical Officer at Aptose. “We recently commenced treating patients at the highest dose level of 160 mg TUS and have already achieved early responses. With no dose-limiting toxicities and activity across diverse mutations, TUS+VEN+AZA targets AML’s greatest unmet needs and largest populations.”

The ASH poster presentation is available here.

About Tuspetinib

Aptose’s lead compound tuspetinib is a convenient once daily oral agent that potently targets SYK, mutated and wild type forms of FLT3, mutated KIT, JAK1/2, and RSK2 kinases, while avoiding many typical toxicity concerns observed with other agents. The ongoing TUSCANY triplet Phase 1/2 study is designed to test various doses and schedules of TUS in combination with standard dosing of azacitidine and venetoclax in newly diagnosed patients with AML who are ineligible to receive induction chemotherapy. Data from the first three dose cohorts demonstrate safety, CRs and minimal residual disease (MRD) negativity across patients with diverse mutations. The early data showed that 9 out of 10 patients responded to the TUS triplet therapy, with 100% complete remission (CR/CRh) achieved in the 80mg and 120mg cohorts. Notably, patients with difficult-to-treat mutations in TP53, RAS and FLT3 genes also achieved a 100% CR/CRh rate.

About Aptose

Aptose Biosciences is a clinical-stage biotechnology company committed to developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology. The Company's small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies without overlapping toxicities. The Company’s lead clinical-stage compound tuspetinib (TUS), is an oral kinase inhibitor that has demonstrated activity as monotherapy and in combination therapy in patients with relapsed or refractory acute myeloid leukemia (AML) and is being developed as a frontline triplet therapy in newly diagnosed AML. For more information, please visit www.aptose.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Canadian and U.S. securities laws, including, but not limited to, statements relating to the therapeutic potential of tuspetinib, its clinical development and safety profile including its tolerability and resilient efficacy, as well as statements relating to the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “expect”, “intend”, “will”, “should”, “would”, “may”, and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others: our ability to obtain the capital required for research and operations and to continue as a going concern; the inherent risks in early stage drug development including demonstrating efficacy; development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market conditions; inability of new manufacturers to produce acceptable batches of GMP in sufficient quantities; unexpected manufacturing defects; and other risks detailed from time-to-time in our ongoing quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.

Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

For further information, please contact:

Aptose Biosciences Inc.                        
Susan Pietropaolo                        
Corporate Communications & Investor Relations                        
201-923-2049                        
[email protected]

December 06, 2025 08:00 ET

 | Source:

Bicara Therapeutics Inc.

Ficerafusp alfa 750mg QW in combination with pembrolizumab demonstrates consistent overall response rate and safety profile comparable to 1500mg QW dose, further derisking pivotal FORTIFI-HN01 study interim analysis

Totality of data demonstrates that greater TGF-β inhibition, observed at 1500mg of ficerafusp alfa, drives deeper tumor responses that translate to more durable outcomes for patients

Pivotal FORTIFI-HN01 optimal dose declaration expected in first quarter 2026

Company to host conference call and webcast today at 9:00 a.m. ET

BOSTON, Dec. 06, 2025 (GLOBE NEWSWIRE) --  Bicara Therapeutics Inc. (Nasdaq: BCAX), a clinical-stage biopharmaceutical company committed to bringing transformative bifunctional therapies to patients with solid tumors, today presented preliminary data from a Phase 1b expansion cohort evaluating 750 mg of ficerafusp alfa weekly (QW) in combination with pembrolizumab in first-line (1L) human papillomavirus (HPV)-negative recurrent/metastatic (R/M) head and neck squamous cell carcinoma (HNSCC). The data were highlighted in an oral presentation by Deborah Wong, MD, PhD of UCLA Medical Center at the European Society for Medical Oncology (ESMO) Asia Congress and will be discussed on a company conference call and webcast today, December 6, at 9:00 a.m. ET.

“Inadequate tumor penetration remains a major barrier in treating solid tumors such as R/M HNSCC,” said Claire Mazumdar, PhD, MBA, Chief Executive Officer of Bicara Therapeutics. “Ficerafusp alfa, the first and only bifunctional EGFR-directed antibody x TGF-β ligand trap, was purposefully designed to deliver deep and durable responses with the potential to meaningfully extend overall survival for patients. The data presented today mark an important advancement in our dose-optimization strategy, reinforce our confidence in the interim overall response rate analysis as the foundation for pursuing accelerated approval in the FORTIFI-HN01 pivotal trial, and further elucidate the relative contribution of TGF- β in driving deep and durable tumor responses. We have made significant progress in the FORTIFI-HN01 trial this year and are on track to declare an optimal dose in the first quarter of 2026.”

Phase 1/1b expansion cohort data presented at ESMO Asia show that 750mg ficerafusp alfa in combination with pembrolizumab was generally well-tolerated, with a safety profile consistent with the known safety profile of ficerafusp alfa plus pembrolizumab in R/M HNSCC. At a preliminary duration of follow-up, 750 mg of ficerafusp alfa demonstrated a 57% confirmed overall response rate, with 10% of patients achieving a completed response, and 29% of responders demonstrating deep responses of at least 80% tumor shrinkage.

New biomarker data to be presented during Bicara’s corporate call and webcast show that 1500mg of ficerafusp alfa yielded a greater increase TGF-β inhibition within the tumor microenvironment and greater immune activation, compared to 750mg of ficerafusp alfa. The increased TGF-β inhibition in the tumor translated to greater depth of clinical responses at 24 weeks. The median depth of response was 82% at the 1500mg dose vs. 63% at the 750mg dose, and 64% of responders at 1500mg achieved a deep response, compared to 27% of responders at the 750mg dose.

The totality of the data suggests that a higher dose of ficerafusp alfa with greater TGF-β inhibition and immune activation drives deeper tumor responses that translate to more durable outcomes for patients.

Bicara plans to declare the optimal biologic dose for use in the pivotal FORTIFI-HN01 study in the first quarter of 2026.

Conference Call and Webcast Details
Bicara Therapeutics will host a conference call and webcast today December 6, 2025 at 9:00 a.m. ET. Individuals may register for the conference call by clicking the link here. Once registered, participants will receive dial-in details and a unique PIN which will allow them to access the call. An audio webcast will be accessible through the Investor Relations section of Bicara’s website under Events and Presentations. An archived replay will also be available for 30 days following the webcast.

About Head and Neck Squamous Cell Carcinoma
Head and neck squamous cell carcinomas (HNSCCs) develop from the mucosal epithelium in the oral cavity, pharynx and larynx and are the most common malignancies that arise in the head and neck. HNSCC is one of the most common cancers in the United States and globally with a rising incidence anticipated to reach one million new global cases annually by 2030. Ten percent of HNSCC patients are diagnosed with metastatic disease and up to 30% develop a recurrence or metastases over time after receiving initial treatment for advanced HNSCC.

Most cases of HNSCC are thought to result from accumulated mutations caused by carcinogenic exposures such as tobacco smoke or HPV infection. Approximately 80% of patients with R/M HNSCC are HPV-negative. These HPV-negative tumors often exhibit a recurrence pattern that is primarily local and are associated with severe morbidities, including fatal tumor bleeding, intense pain, difficulty swallowing, significant weight loss, and cachexia. This highlights a critical unmet need for therapies that have the potential to deliver durable anti-tumor responses, ultimately leading to meaningful improvements in patients' quality of life.

About Ficerafusp Alfa
Ficerafusp alfa is a first-in-class bifunctional antibody designed to drive tumor penetration by breaking barriers in the tumor microenvironment that have challenged the treatment of multiple solid tumor cancers. Specifically, ficerafusp alfa combines two clinically validated targets: an epidermal growth factor receptor (EGFR) directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-β). Through this targeted mechanism, ficerafusp alfa reverses the fibrotic and immune-excluded tumor microenvironment driven by TGF-β signaling to enable tumor penetration that drives deep and durable responses. The U.S. Food and Drug Administration (FDA) has granted Breakthrough Therapy Designation to ficerafusp alfa in combination with pembrolizumab for the first line (1L) treatment of patients with metastatic or with unresectable, recurrent (R/M) head and neck squamous cell carcinoma (HNSCC) whose tumors express programmed death-ligand 1 with combined positive score (CPS) ≥1, excluding human papillomavirus (HPV)-positive oropharyngeal squamous cell carcinoma.

Ficerafusp alfa is currently being evaluated in FORTIFI-HN01, a pivotal Phase 2/3 clinical trial in patients with 1L R/M HNSCC.

About Bicara Therapeutics
Bicara Therapeutics is a clinical-stage biopharmaceutical company committed to bringing transformative bifunctional therapies to patients with solid tumors. Bicara’s lead program, ficerafusp alfa, is a first-in-class bifunctional antibody designed to drive tumor penetration by breaking barriers in the tumor microenvironment that have challenged the treatment of multiple solid tumor cancers. Specifically, ficerafusp alfa combines two clinically validated targets: an epidermal growth factor receptor (EGFR) directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-β). Through this targeted mechanism, ficerafusp alfa reverses the fibrotic and immune-excluded tumor microenvironment driven by TGF-β signaling to enable tumor penetration that drives deep and durable responses. Ficerafusp alfa is being developed in head and neck squamous cell carcinoma, where there remains a significant unmet need, as well as other solid tumor types. For more information, please visit www.bicara.com or follow us on LinkedIn and X.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may be identified by words such as “may,” “might,” “will,” “could,” “would,” “should,” “plan,” “anticipate,” “intend,” “believe,” “expect,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target” and similar words or expressions, or the negative thereof, are intended to identify forward-looking statements, although not all contain identifying words. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, express or implied statements regarding Bicara’s clinical development of ficerafusp alfa in combination with pembrolizumab and presentation of early data from a Phase 1b expansion cohort evaluating 750 mg of ficerafusp alfa weekly (QW) in combination with pembrolizumab in first-line (1L) human papillomavirus (HPV)-negative recurrent/metastatic (R/M) head and neck squamous cell carcinoma (HNSCC), the expected therapeutic potential and clinical benefits of ficerafusp alfa, including potential efficacy and tolerability, and Bicara’s optimal biological dose selection plans. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to uncertainties inherent in the development of product candidates, including the conduct of research activities and the conduct of clinical trials; uncertainties as to the availability and timing of results and data from clinical trials; whether results from prior preclinical studies, preliminary or interim data from earlier stage clinical trials will be predictive of the results of subsequent preclinical studies and clinical trials; regulatory developments in the United States and foreign countries; whether Bicara’s cash resources will be sufficient to fund its foreseeable and unforeseeable operating expenses and capital expenditure requirements; as well as the risks and uncertainties identified in Bicara’s filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2024, its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 and any subsequent filings Bicara makes with the SEC. In addition, any forward-looking statements represent Bicara’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Bicara explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Contacts

Investors
Jenna Cohen
[email protected]

Media
Amanda Lazaro
1AB
[email protected]

In the dwindling days of the California gold rush, the wife of a local miner faced a problem. 

Her husband's denim work pants kept ripping, so her tailor, Jacob Davis, had the idea to add copper rivets to key points of strain, like the pocket corners and the base of the button fly, to keep them from tearing. 

Davis' "riveted pants" soon became a roaring success and, unbeknownst to him at the time, marked the official birth of the blue jean, a garment that would transform fashion and come to represent the United States around the globe. 

"It really has democratized American fashion and it also is the greatest export that we have sent to the world, because people identify jeans specifically with American Western culture," said Shawn Grain Carter, a fashion professor at the Fashion Institute of Technology in New York. "It doesn't matter your economic or social class. It doesn't matter what your views are in terms of the political spectrum. Everybody wears denim." 

These days, denim is a major sales driver for retailers big and small, as the global denim market reached $101 billion this year, up 28% from 2020, according to data from market research company Euromonitor International. Major apparel companies from American Eagle to Levi Strauss are in a race to corner that market, leaning on A-list celebrities like Sydney Sweeney and Beyonce to win over shoppers and drive sales in an unsteady economy.

But if it weren't for Levi Strauss, founder of the eponymous blue jeans company, Davis' invention may not have gone far beyond the railroad town where it was created in the early 1870s. 

How Levi's created blue jeansSoon after Davis created his riveted pants, called "waist overalls" or "overalls" at the time, they began selling like "hot cakes" and he needed a business partner to secure a patent, said Tracey Panek, Levi's in-house historian. So he wrote to Strauss, a Bavarian-born immigrant who was running a successful wholesale business in San Francisco and had supplied Davis the denim he used to create his riveted pants. 

"The secret of them Pents is the Rivits that I put in those Pockets and I found the demand so large that I cannot make them up fast enough," Davis wrote Strauss in a letter, according to PBS. 

Strauss, an "astute" businessman, recognized the opportunity and agreed to partner with Davis, said Panek. 

"This would have been the first time that Levi was actually" manufacturing his own products, said Panek. "He was no longer just importing and selling other people's goods. He was manufacturing himself and selling to retailers."

On May 20, 1873, the two men secured a patent for the riveted pants and eventually opened a factory on Fremont Street, close to the modern-day Salesforce tower in San Francisco's financial district. 

They promised to offer workers the most durable jeans on the market and soon, business was booming. 

Dude ranch duds and the American worker Through Strauss' connections as a wholesaler, the company's riveted overalls soon spread across the U.S., becoming the garment of choice for working men everywhere: miners, cowboys, farmers – any role that required durable clothing. 

Jeans were exclusively reserved for work settings at the time, but as emerging denim manufacturers vied for a similar customer base, they looked to expand their assortment to drive sales. 

"Slowly and steadily into the 20th century, you start to see some of these manufacturers making variations," said Sonya Abrego, a New York City-based fashion historian. "There was this one design called spring bottom pants that was kind of a more form fitted, a more dressed up, a slightly flared, maybe what the factory foreman would be wearing, right? As opposed to just the guy on the shop floor."

In 1934, Levi created the first ever line of jeans for women. Around that time, denim started to become more popular in settings outside of work, primarily for activities like dude ranch vacations, camping and horseback riding. 

"So they were kind of taking on a cowboy's garment or a worker's garment but wearing it in a … resort setting," said Abrego. 

Dude ranch vacations had become popular because there were finally highways connecting different parts of the country, and few were willing to venture to Europe during a war. Companies like Levi began releasing advertisements highlighting their denim as "dude ranch duds" and "authentic western riding wear" to capture shoppers looking for jeans to bring with them on vacation, according to archival advertisements from the time. 

These cultural moments helped to expand denim beyond workers, but jeans didn't become widespread casual attire until after World War II, when American fashion overall started to shift. 

The rise of the backyard BBQ By the time World War II ended, the mighty American consumer was beginning to emerge. For years, Americans had been forced to ration common goods like rubber, sugar and meat while simultaneously being encouraged to save their money by buying war bonds and socking away spare cash.

When the country shifted from wartime to peacetime, Americans were ready to splurge and soon began spending big on new cars, appliances and clothes. 

"With a little bit more money to spend, you start seeing a bigger push for leisure clothes and fun clothes and play clothes, clothes to wear to backyard barbecues," said Abrego. "Clothes that we would consider today as just like casual style." 

Slowly and surely, it became more and more acceptable for both men and women to wear jeans outside of work settings. Then, denim manufacturers made a push to allow jeans in schools. 

"They wanted to sell to as many people as they possibly could," said Abrego. "The idea that jeans are good for school means that they're good for every day."

By the time the 1960s hit, denim manufacturers had expanded their products and were selling a wide variety of colors, fits and styles. It became a symbol of the hippie movement and a mainstay on Hollywood sets.

Soon, denim was everywhere, and the 1970s brought the iconic bell bottom pants and the first iteration of the "designer jean" — denim pants being produced by labels and brands whose designs had nothing to do with work wear or western wear, like Calvin Klein and Gloria Vanderbilt.

Since then, denim has remained a constant in global fashion. While silhouettes, washes and fits have changed over time, jeans never really go out of style, which is what makes them so enduring, said Abrego. 

"This is a design from 1873 … do we see anything else from 1873 on the street? It's kind of wild if you think about it that way," said Abrego. "We can talk about all the details, all the changes in manufacturing and all the different fits and finishes but it's a recognizable thing, it's still a pair of jeans. For me as a historian, that continuity is so compelling because I can't really name anything else that has stayed the same to this degree."