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CALGARY, Alberta, Dec. 05, 2025 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) and its strategic partner Ecopetrol S.A. (“Ecopetrol”), are pleased to announce an update on their Llanos Foothills exploration program, where a full strategic alliance has effectively been achieved. Additionally, the Company provides an update on its corporate production and announces plans to release its 2026 guidance on January 19, 2026.

Key Highlights

Finalized Niscota agreement, strengthening Llanos Foothills position and securing the Floreña Huron exploration prospect.Advanced the Farallones exploration prospect in the Llanos Foothills, with regulatory approvals secured and initial work underway.Continued to sustain strong production levels in November 2025, with QTD Q4 2025 average production currently 49,700 boe/d(1). “Parex has long maintained a Colombia-focused gas strategy, and today’s announcement underscores our commitment to expanding meaningful gas development in the country. With effectively all Foothills agreements and regulatory approvals complete, Parex and Ecopetrol have laid the foundation for a 50/50 strategic partnership across the Foothills basin – stretching from Gibraltar in the north, to Farallones in the south – with Parex as operator,” commented Imad Mohsen, President & Chief Executive Officer.

“Through this partnership, we will leverage our shared Colombian expertise, apply modern technology, and attract additional foreign investment for years to come, with the collective goal of finding resources and delivering new volumes of natural gas to the domestic market. After more than three years of public-private collaboration, I am excited to see the final piece of the puzzle come together, and confident that our joint efforts will greatly benefit Colombia and all our stakeholders.”

“Additionally, I am pleased to share that Parex continues to see strong operational performance across our portfolio. Our fourth-quarter execution is on track, and I am looking forward to 2026 with established exploration and production momentum.”

Llanos Foothills – High-Impact Exploration

In line with ongoing plans to explore the Llanos Foothills trend for new sources of Colombian resources, Parex and Ecopetrol have further reinforced their joint position in a basin recognized for its world-class exploration potential, collaborating to strengthen Colombia’s future energy position and sustainability.

Niscota Block

Ecopetrol has confirmed that they have received approval from the regulator for the extension of the Piedemonte Convenio into a portion of the Niscota block, with all necessary regulatory approvals to drill the Floreña Huron exploration well.Per previously announced agreements(2), Parex has acquired a 50% participation share on the future production of the extended area of the Piedemonte Convenio, in exchange for agreeing to drill on a 100% capital basis the Floreña Huron exploration well, which will be drilled to the north of the producing Floreña field.In its 2026 program, Parex plans to commence initial and civil works to spud the Floreña Huron exploration well. Farallones Block

The Farallones exploration prospect is progressing, with all regulatory approvals received and initial works underway.As previously announced(3), Parex agreed with Ecopetrol to drill the Farallones exploration well on a 100% capital basis.In its 2026 program, Parex plans to commence civil works to spud the Farallones exploration well. Production Update

Average production was 49,300 boe/d(4) in October 2025 and was sustained in November 2025 at 50,300 boe/d(5). Production was driven primarily by strong new wells at LLA-32 and LLA-74, which came online with high initial rates and are now stabilizing.

With minimal expected production adds over the remainder of the year, and YTD 2025 average production of 44,550 boe/d(6), Parex expects to achieve approximately the midpoint of its FY 2025 annual average production guidance of 45,000 boe/d (range: 43,000 to 47,000 boe/d).

2026 Guidance

Parex plans to release its 2026 guidance after markets close on January 19, 2026.

Footnotes

(1) Estimated average production for October 1, 2025 to December 3, 2025; light & medium crude oil: ~11,901 bbl/d, heavy crude oil: ~36,214 bbl/d, conventional natural gas: ~9,512 mcf/d; rounded for presentation purposes.
(2) See April 11, 2024 news release.
(3) See December 11, 2024 news release.
(4) Estimated average production for October 1, 2025 to October 31, 2025; light & medium crude oil: ~11,805 bbl/d, heavy crude oil: ~35,922 bbl/d, conventional natural gas: ~9,435 mcf/d; rounded for presentation purposes.
(5) Estimated average production for November 1, 2025 to November 31, 2025; light & medium crude oil: ~12,045 bbl/d, heavy crude oil: ~36,651 bbl/d, conventional natural gas: ~9,627 mcf/d; rounded for presentation purposes.
(6) Estimated average production for January 1, 2025 to December 3, 2025; light & medium crude oil: ~10,668 bbl/d, heavy crude oil: ~32,461 bbl/d, conventional natural gas: ~8,526 mcf/d; rounded for presentation purposes.

About Parex Resources Inc.

Parex is one of the largest independent oil and gas companies in Colombia, focusing on sustainable, conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogotá, Colombia. Parex shares trade on the Toronto Stock Exchange under the symbol PXT.

For more information, please contact:

Mike Kruchten
Senior Vice President, Capital Markets & Corporate Planning
Parex Resources Inc.
403-517-1733
[email protected]

Steven Eirich
Senior Investor Relations & Communications Advisor
Parex Resources Inc.
587-293-3286
[email protected]

NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES

Advisory on Forward-Looking Statements

Certain information regarding Parex set forth in this press release contains forward-looking statements that involve substantial known and unknown risks and uncertainties. The use of any of the words "plan", "expect", “prospective”, "progressing", "project", "intend", "believe", "should", "anticipate", "estimate", “forecast”, "guidance", “budget” or other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking statements. Such statements represent Parex's internal projections, estimates or beliefs concerning, among other things, future growth, results of operations, production, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, plans for and results of drilling activity, environmental matters, business prospects and opportunities. These statements are only predictions and actual events or results may differ materially. Although the Company’s management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause Parex's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Parex.

In particular, forward-looking statements contained in this press release include, but are not limited to, statements with respect to the Company's focus, plans, priorities and strategies and the benefits to be derived from such plans, priorities and strategies; the expected benefits of the full strategic alliance with Ecopetrol; that Parex and Ecopetrol will collaborate to strengthen Colombia's future energy position and sustainability; that joint efforts by Parex and Ecopetrol will benefit Colombia and their stakeholders; expectations on fourth-quarter execution and exploration and production momentum for 2026; expectations regarding regulatory approvals to drill the Floreña Huron exploration well; plans to commence initial and civil works to spud the Floreña Huron exploration well; expectations regarding regulatory approvals related to the Farallones exploration prospect; plans to commence civil works to spud the Farallones exploration well; expectations on achieving annual average production guidance and estimates of such average production over the remainder of the year; and plans to release its 2026 guidance in January, 2026. These statements are only predictions and actual events or results may differ materially. Although the Company’s management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause Parex's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Parex.

These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, the impact of general economic conditions in Canada and Colombia; prolonged volatility in commodity prices; industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced in Canada and Colombia; determinations by the Organization of Petroleum Exporting Countries (OPEC) and other countries as to production levels; competition; lack of availability of qualified personnel; the results of exploration and development drilling and related activities; obtaining required approvals of regulatory authorities in Canada and Colombia; the risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities; volatility in market prices for oil; fluctuations in foreign exchange or interest rates; environmental risks; changes in income tax laws or changes in tax laws and incentive programs relating to the oil industry; changes to pipeline capacity; ability to access sufficient capital from internal and external sources; failure of counterparties to perform under contracts; the risk that Brent oil prices may be lower than anticipated; the risk that Parex's evaluation of its existing portfolio of development and exploration opportunities may not be consistent with its expectations; the risk that Parex may not realize the expected benefits from the strategic alliance with Ecopetrol; operational risks related to fourth-quarter execution and plans to commence civil works for exploration wells; the risk that necessary governmental, regulatory and/or other approvals, as required, may not be granted in connection with the exploration wells; and risk that Parex's FY 2025 annual average production guidance is lower than anticipated. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Parex's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca).

Although the forward-looking statements contained in this document are based upon assumptions which Parex management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this document, Parex has made assumptions regarding, among other things: current and anticipated commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future exchange rates; the price of oil, including the anticipated Brent oil price; the impact of increasing competition; conditions in general economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; receipt of partner, regulatory and community approvals; royalty rates; future operating costs; uninterrupted access to areas of Parex's operations and infrastructure; recoverability of reserves and future production rates; the status of litigation; timing of drilling and completion of wells; on-stream timing of production from successful exploration wells; operational performance of non-operated producing fields; pipeline capacity; that Parex will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that Parex's conduct and results of operations will be consistent with its expectations; that Parex will have the ability to develop its oil and gas properties in the manner currently contemplated; that Parex's evaluation of its existing portfolio of development and exploration opportunities is consistent with its expectations; current or, where applicable, proposed industry conditions, laws, regulations and regulatory approvals will continue in effect or as anticipated as described herein; that the estimates of Parex's production and reserves volumes and the assumptions related thereto (including commodity prices and development costs) are accurate in all material respects; that Parex will be able to obtain contract extensions or fulfill the contractual obligations required to retain its rights to explore, develop and exploit any of its undeveloped properties; that Parex's internal security protocols and engagements with its stakeholders and the Colombian national government will be successful; that Parex will achieve the anticipated benefits from the strategic alliance with Ecopetrol; receipt of all required regulatory approvals in respect of the exploration wells; that Parex's anticipated FY 2025 annual average production is consistent with expectations; and other matters.

Management has included the above summary of assumptions and risks related to forward-looking statements provided in this document in order to provide shareholders with a more complete perspective on Parex's current and future operations and such information may not be appropriate for other purposes. Parex's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits Parex will derive. These forward-looking statements are made as of the date of this document and Parex disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Oil & Gas Matters Advisory

The term “boe” means a barrel of oil equivalent on the basis of 6 thousand cubic feet (“Mcf”) of natural gas to 1 bbl. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 Mcf: 1 bbl, utilizing a conversion ratio at 6 Mcf: 1 bbl may be misleading as an indication of value.

Abbreviations

The following abbreviations used in this press release have the meanings set forth below:

bblone barrelboebarrels of oil equivalent of natural gas; one barrel of oil or natural gas liquids for six thousand cubic feet of natural gasboe/dbarrels of oil equivalent of natural gas per dayMcfthousand cubic feet   PDF available: http://ml.globenewswire.com/Resource/Download/c150b634-ddf7-4c89-b14f-d8cf4742a279

BlackRock CEO Larry Fink has retracted his earlier statements criticizing Bitcoin (BTC) as a tool for money laundering and theft. Since his criticism, BlackRock has become the largest Bitcoin exchange-traded fund (ETF), with Fink evolving into a strong advocate of the premier cryptocurrency.

Larry Fink Confirms Bitcoin U-Turn 
After previously taking a hard stance toward Bitcoin, Larry Fink has reiterated a change of heart toward the largest cryptocurrency. In a recent interview, the BlackRock CEO admitted that his former views on Bitcoin were wrong, and new insights have forced a shift in perspective for digital assets.

According to Fink, interactions with thousands of clients, including government leaders, as the BlackRock CEO revealed the upsides of Bitcoin. For Fink, Bitcoin is now an international asset class with the BlackRock CEO underscoring BTC’s inflation-hedging and borderless properties in several interviews.

“I had very strong views,” said Fink. “But that doesn’t mean I’m not wrong. My thought process always evolves.”

Back in 2017, Larry Fink described Bitcoin as an “index of money laundering” while dismissing it as speculation and “not a real investment.” In 2018, Fink noted that BlackRock had no interest in a Bitcoin ETF, maintaining that its clients were not keen on cryptocurrency exposure.

Starting in 2020, Fink’s public comments indicated a streak of neutrality. In multiple interviews, the BlackRock CEO acknowledged Bitcoin’s potential but raised concerns over its volatility and dire lack of regulation.

In the following years, Fink and BlackRock began paying significant attention to Bitcoin, mulling the possibilities of tokenization using blockchain technology. Things reached a crescendo in 2023 after BlackRock filed for a spot Bitcoin ETF, citing growing clients’ need for BTC exposure. 

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BlackRock’s IBIT Garners Widespread Interest
After the US Securities and Exchange Commission (SEC) approved BlackRock’s iShares Bitcoin Trust (IBIT) in early 2024, the ETF recorded a flying start. At the moment, IBIT is the largest spot Bitcoin ETF with over $72 billion in assets under management (AUM), reflecting massive institutional interest in the asset class.

Barely two years since its launch, Bitcoin ETFs are now BlackRock’s largest revenue drivers, surpassing revenue-generating two-decade-old products for the asset manager. For context, BlackRock manages over 1,600 ETFs globally, with IBIT on course to clinch $100 billion in AUM.

Revenue regained growth momentum, increasing 17% QoQ and 1% YoY, marking the second consecutive quarter of double-digit sequential growth and reflecting improving revenue qualityAdjusted EBITDA loss narrowed by 68% YoY to US$(1.8) million and Adjusted EBITDA margin improved to -8.4%, supported by an improving revenue mix, growing partnership ecosystem, and AI-driven efficiency gainsTotal operating costs and expenses, excluding net foreign exchange differences, fell by 13% YoY to US$23.9 million, driven by disciplined cost management and AI-enabled efficiency gains in marketing and advertising, technology, and employee expenses SINGAPORE, Dec. 05, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (Nasdaq: MNY) (“MoneyHero” or the “Company”), a leading tech- and AI-powered personal finance aggregation and comparison platform and a digital insurance brokerage provider in Greater Southeast Asia, today announced its financial results for the third quarter ended September 30, 2025.

Management Commentary:

Rohith Murthy, Chief Executive Officer, stated:

“The third quarter was another quarter of disciplined execution as we continue to reshape MoneyHero into a higher-margin, cash-generative business. Revenue regained growth momentum, increasing to US$21.1 million, up 17% sequentially and 1% year-over-year, as we deliberately focused on higher-quality volume in certain markets and verticals. We had a net loss of US$(3.5) million versus a quarterly net income of US$5.7 million during the same period last year, with the prior period primarily driven by unrealized foreign exchange gain and loss. Our Adjusted EBITDA loss narrowed by 68% year-over-year to US$(1.8) million, with Adjusted EBITDA margin improving from -26.5% to -8.4%. For the first nine months of 2025, our net loss narrowed sharply to US$(5.7) million from US$(19.6) million during the same period last year and our Adjusted EBITDA loss improved by 67% year-over-year to US$(7.0) million from US$(21.3) million, a clear early proof-point that the strategic pivot we began in the second half of 2024 is now driving structural operating leverage and making the turnaround visible in our financials.

Under the hood, the quality of our revenue mix continues to improve and is central to our margin story. For the third quarter, Insurance and Wealth – our higher-margin revenue streams, now contribute 23% of Group revenue, up 2 percentage points year-over-year, with Insurance revenue up 13% year-over-year and Wealth up 5% year-over-year. In Singapore, our largest market, revenue grew strongly year-over-year as banks and insurers increased activity on our platforms. At the same time, total operating costs and expenses, excluding net foreign exchange differences, fell by 13% year-over-year to US$23.9 million, reflecting sustained efficiencies across marketing and advertising, technology and employee expenses and demonstrating the kind of operating leverage that will not reinflate as we return to growth.

Our AI transformation, spearheaded by our recently launched Project Odyssey, which positions MoneyHero as a tech- and AI-powered personal financial platform, is embedding smart automation and conversational AI into core customer journeys. This includes the public rollout of our AI-powered Car Insurance SaverBot Beta on WhatsApp in Singapore, designed to simplify product discovery and accelerate conversions. These capabilities are already helping us lower customer acquisition cost per approval, increase approval quality for partners, and process higher service volumes with a flat headcount base. At the same time, Credit Hero Club in Hong Kong is cultivating a recurring base of high-intent users by providing personalized credit insights, monitoring tools, and tailored product recommendations. Collectively, these capabilities will create more personalized, multi-product experiences for our 8.8 million Members, enabling us to increase repeat usage and cross-sell in categories such as Insurance, Wealth and Personal Loans, further strengthening our market leadership in digital personal finance. Over time, we expect Odyssey and our higher-margin verticals to contribute meaningfully to EBITDA margin expansion and free cash flow generation as we scale.

Looking ahead, we expect Q4 2025 to be our first quarter of positive Adjusted EBITDA since listing - the profitability inflection we have been signaling — driven by continued mix shift toward higher-margin verticals, further benefits from AI-driven optimization and a structurally leaner cost base.

As we move into 2026, our focus is clear: scale higher-value revenue from Insurance, Wealth and other verticals; expand margins through AI-driven operating leverage; and convert more of our 8.8 million Members into repeat, multi-product customers. We expect full-year 2026 Adjusted EBITDA to be significantly better than 2025, supported by increasing operating leverage and the early financial benefits of our AI-driven transformation agenda. Executed well, this model positions us to deliver sustainable, capital-efficient growth and create long-term value creation for our shareholders.”

Danny Leung, Chief Financial Officer, added:

“For the third quarter, we reported US$21.1 million in revenue, representing a 17% sequential increase from Q2 and 1% year-over-year growth. This is now our second consecutive quarter of double-digit revenue growth, demonstrating a consistent recovery pattern built on healthy unit economics rather than the volume-driven growth we saw prior to our operating model reset last year.

Insurance revenue grew 13% year-over-year to US$2.3 million, and Wealth revenue grew 5% to US$2.6 million. Together they represented 23% of revenue, compared to 21% a year ago. This shift reflects a fundamental change in our revenue mix — one that is already raising margins, improving predictability, and strengthening the durability of earnings. Both internal data and external research highlight Insurance and Wealth as the core engines of long-term gross profit compounding, and the Q3 data confirms that momentum.

Total operating costs and expenses, excluding net foreign exchange differences, fell to US$23.9 million, a 13% reduction year-over-year. This is consistent with our stated objective of reshaping our cost base and reflects progress across every major category. Advertising and marketing costs declined as we executed more cost efficient campaigns and improved our fee structures with partners.

Technology costs also declined meaningfully year-over-year, decreasing from US$2.0 million to US$0.9 million, as we have consolidated platforms, reduced vendor count, and embedded AI-driven automation in internal workflows. These improvements to our technology stack are enabling the business to ship more product features and achieve cost efficiencies across our operations.

Employee benefit expenses were notably lower versus last year, decreasing from US$5.7 million to US$4.2 million. This is partly due to our restructuring efforts completed earlier in 2024, and just as importantly, due to scaling impact of AI in increasing operational efficiencies. With 70–80% of incoming service queries now handled through support and service automation, we are able to grow applications and engagement without increasing headcount, which is a key driver of multi‑year operating leverage.

For Q3, Adjusted EBITDA improved to a loss of US$1.8 million, compared to a loss of US$5.5 million a year ago — an improvement of 68%. Adjusted EBITDA margin improved from -26.5% to -8.4%. This is the second consecutive quarter of sequential improvement, and the underlying drivers — mix shift, operating leverage, and reduced cost of revenue — remain consistent.

We expect Q4 to be our first quarter of positive Adjusted EBITDA. Our cost base is structurally lower, our revenue mix is structurally stronger, and the benefits of Project Odyssey are becoming visible not only in service automation but also in conversion and acquisition efficiency. We will continue allocating capital to the highest-return verticals, namely Insurance, Wealth, and Personal Loans.

We ended the quarter with US$27.9 million in cash and cash equivalents, US$35.5 million in net current assets, and no material financial debt, giving us a solid liquidity position to support disciplined investment in AI, product innovation and higher-margin verticals.

Overall, Q3 reflects a business progressing steadily — operationally, financially, and structurally — toward our goal of sustainable, profitable growth.”

Third Quarter 2025 Financial Highlights

Revenue increased by 1% year-over-year to US$21.1 million in the third quarter of 2025, reflecting a strategic shift toward diversifying revenue mix to enhance revenue quality. Revenue from insurance products increased by 13% year-over-year to US$2.3 million in the third quarter of 2025, accounting for 11% of total revenue, compared to 10% during the same period last year.Revenue from wealth products increased by 5% year-over-year to US$2.6 million in the third quarter of 2025, accounting for 12% of total revenue, consistent with the same period last year. Total operating costs and expenses, excluding net foreign exchange differences, decreased by 13% to US$23.9 million in the third quarter of 2025 from US$27.4 million during the same period last year. This reduction was driven by optimized advertising and marketing spend, lower technology costs from platform efficiencies and vendor consolidations, and streamlined employee benefits following our restructuring initiatives.Total operating costs and expenses include unrealized foreign exchange gains of US$0.9 million in the third quarter of 2025 and US$10.1 million in the prior year period. These gains resulted from local currencies strengthening against the US dollar during the quarter and are excluded from Adjusted EBITDA calculations.Net loss was US$(3.5) million in the third quarter of 2025 compared to a net income of US$5.7 million in the prior year period. The net income in the prior year period was primarily driven by the unrealized foreign exchange gain mentioned above.Adjusted EBITDA loss improved to US$(1.8) million in the third quarter of 2025 from US$(5.5) million in the prior year period. Third Quarter 2025 Operational Highlights

Monthly Unique Users of 5.1 million for the three months ended September 30, 2025.MoneyHero Group Members, to whom the Company provides more tailored product information and recommendations, grew by 27% year-over-year to 8.8 million as of September 30, 2025.MoneyHero sourced 370,000 applications and had 176,000 approved applications in the third quarter of 2025. Capital Structure

The table below summarizes the capital structure of the Company as of September 30, 2025:

Share ClassIssued and OutstandingClass A Ordinary30,533,9521Class B Ordinary13,254,838Preference Shares2,407,575Total Issued Shares246,196,365   Summary of financial / KPI performance

 For the Three Months Ended
September 30, For the Nine Months Ended
September 30, 2025
2024
 2025
2024
 (US$ in thousands, unless otherwise noted)      Revenue21,124 20,939  53,460 63,788 Adjusted EBITDA3(1,776)(5,539) (7,035)(21,314)      Clicks (in thousands)41,884 2,424  5,987 N/A Applications (in thousands)5370 446  1,177 1,416 Approved Applications (in thousands)5176 179  505 595            Revenue breakdown

 For the Three Months Ended
September 30, For the Nine Months Ended
September 30, 2025 2024  2025 2024  US$%US$% US$%US$% (US$ in thousands, except for percentages)By Geographical Market:         Singapore10,20848.37,86837.6 23,06543.125,83140.5Hong Kong7,54035.78,07538.6 21,73540.723,05736.1Taiwan1,0044.81,0154.8 2,8135.33,8416.0Philippines2,37211.23,95018.9 5,84810.910,86717.0Malaysia--310.1 --1920.3Total Revenue21,124100.020,939100.0 53,460100.063,788100.0          By Source:         Online financial comparison platforms19,21290.917,40383.1 47,91689.653,22183.4Creatory1,9129.13,53616.9 5,54410.410,56716.6          Total Revenue21,124100.020,939100.0 53,460100.063,788100.0          By Vertical:         Credit cards14,21467.313,23963.2 33,34262.441,39964.9Personal loans and mortgages1,8188.62,93814.0 6,40012.08,81213.8Wealth2,56212.12,43711.6 6,51712.26,1069.6Insurance2,31711.02,0529.8 6,78412.76,0569.5Other verticals2131.02731.3 4170.81,4142.2          Total Revenue21,124100.020,939100.0 53,460100.063,788100.0          
Key Metrics

 For the Three Months Ended
September 30, For the Nine Months Ended
September 30, 2025 2024  2025 2024 (in millions, except for percentages)Monthly Unique Users6         Singapore1.121.4%1.520.8% 1.221.8%N/AN/AHong Kong1.224.2%1.317.7% 1.120.9%N/AN/ATaiwan1.733.4%2.026.4% 1.732.4%N/AN/APhilippines1.121.0%2.634.9% 1.324.8%N/AN/AMalaysia0.00.0%0.00.2% 0.00.0%N/AN/ATotal5.1100.0%7.4100.0% 5.4100.0%N/AN/A          Total Traffic6         Singapore3.119.3%3.414.9% 9.318.5%N/AN/AHong Kong4.125.3%4.419.6% 11.222.2%N/AN/ATaiwan5.634.5%6.428.4% 17.134.0%N/AN/APhilippines3.420.9%8.336.9% 12.725.3%N/AN/AMalaysia0.00.0%0.00.2% 0.00.0%N/AN/ATotal16.1100.0%22.6100.0% 50.3100.0%N/AN/A               As of September 30, 20252024  (in millions, except for percentages)MoneyHero Group Members    Singapore1.416.4%1.318.3%Hong Kong1.011.0%0.811.7%Taiwan0.44.5%0.34.9%Philippines6.068.2%4.565.1%Total8.8100.0%6.9100.0%        Conference Call Details

The Company will host a conference call and webcast on Friday, December 5, 2025, at 8:00 a.m. Eastern Standard Time / 9:00 p.m. Singapore Standard Time to discuss the Company’s financial results. The MoneyHero Limited (NASDAQ: MNY) Q3 2025 Earnings call can be accessed by registering at:

Webcast: https://edge.media-server.com/mmc/p/jictztj7
Conference call: https://register-conf.media-server.com/register/BIa4d36247db734c50987d0493c6eaf2f9

The webcast replay will be available on the Investor Relations website for 12 months following the event.

About MoneyHero Group

MoneyHero Limited (NASDAQ: MNY) is a tech- and AI-powered personal finance aggregation and comparison platform that provides consumers with actionable insights to discover, compare, and choose the best financial products with confidence — bringing data intelligence and seamless digital access across insurance and banking solutions. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 260 commercial partner relationships as at September 30, 2025, and had approximately 5.1 million Monthly Unique Users across its platform for the three months ended September 30, 2025. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit www.MoneyHeroGroup.com.

Key Performance Metrics and Non-IFRS Financial Measures

Historically, we utilized data from Universal Analytics (“UA”), Google’s analytics platform, to measure three key business metrics: monthly unique users, traffic, and clicks. Effective July 1, 2024, Google Analytics 4 (“GA4”) replaced UA. The methodologies used in GA4 are different and not comparable to the methodologies used in UA. While Google has provided some guidance on these differences, Google has not made available sufficient information for us to assess the impact (whether positive or negative) of this transition on our key business metrics, nor can we quantify the extent of such impact. Furthermore, due to the adoption of GA4, we have adjusted our definitions of these key business metrics to enhance accuracy and align them more closely with previous definitions under UA. Therefore, we are unable to provide comparable data for monthly unique user, traffic, and clicks for any periods prior to July 1, 2024.

“Monthly Unique User” means as a unique user with at least one session in a given month as determined by a unique device identifier from GA4. A session begins when a user opens an app in the foreground or views a page or screen while no other session is currently active (e.g., the prior session has ended). A session concludes after 30 minutes of user inactivity. To measure Monthly Unique Users over a period longer than one month, we calculate the average of the Monthly Unique Users for each month within that period. If an individual accesses a website or app from different devices within a given month, each device is counted as a separate unique user. However, if an individual logs in and accesses a website or app using the same login across different devices, they will only be counted as one unique user.

“Traffic” means the total number of unique sessions in GA4. A unique session is a group of user interactions recorded when a user accesses a website or app within a 30-minute window. The current session concludes when there is 30 minutes of inactivity or users have a change in traffic source.

“MoneyHero Group Members” means (i) users who have login IDs with us in Singapore, Hong Kong and Taiwan, (ii) users who subscribe to our email distributions in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia, and (iii) users who are registered in our rewards database in Singapore and Hong Kong. Any duplications across the three sources above are deduplicated.

“Clicks” means the sum of unique clicks by product item on a tagged “Apply Now”, “Express Buy”, “Buy” or similar button on our website, including product result pages and blogs. We track Clicks to understand how our users engage with our platforms prior to application submission or purchase, which enables us to further optimize conversion rates.

“Applications” means the total number of product applications submitted by users and confirmed by our commercial partners.

“Approved Applications” means the number of applications that have been approved and confirmed by our commercial partners.

In addition to MoneyHero Group’s results determined in accordance with IFRS, MoneyHero Group believes that the key performance metrics above and the non-IFRS measures below are useful in evaluating its operating performance. MoneyHero Group uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. MoneyHero Group believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as profit/(loss) for the period and profit/(loss) before income tax.

Adjusted EBITDA is a non-IFRS financial measure defined as profit/(loss) for the period plus tax expenses, depreciation and amortization, interest income, finance costs, impairment of intangible assets, impairment of other assets, equity-settled share-based payment expenses, transaction expenses, other non-recurring costs related to strategic exercises, changes in the fair value of financial instruments, non-recurring legal fees, and unrealized foreign exchange differences. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue.

A reconciliation is provided for each non-IFRS measure to the most directly comparable financial measure stated in accordance with IFRS. Investors are encouraged to review the related IFRS financial measures and the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures. IFRS differs from U.S. GAAP in certain material respects and thus may not be comparable to financial information presented by U.S. companies. We currently, and will continue to, report financial results under IFRS, which differs in certain significant respects from U.S. GAAP.

 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2025 20247  2025 20247  (US$ in thousands)       (Loss)/Profit for the period(3,474)5,721  (5,707)(19,601)Tax expenses- 33  15 90 Depreciation and amortization340 1,085  963 3,133 Interest income(153)(288) (468)(1,239)Finance costs13 4  39 17       EBITDA(3,274)6,555  (5,158)(17,601)      Non-cash items:     Changes in fair value of financial instruments1,708 (1,209) 1,551 (972)Impairment of intangible assets- -  - 92 Impairment of other assets284 -  284 - Equity settled share-based payment arising from employee share incentive scheme71 (90) 816 1,548 Unrealized foreign exchange gain, net(860)(10,127) (4,822)(4,326)      Listing and other non-recurring strategic exercises related items:     Transaction expenses- (26) - 29 Gain on disposal of Malaysian operations- (600) - (600)Other non-recurring costs related to strategic exercises- -  - 61       Other non-recurring items:     Non-recurring legal fees295 (42) 295 455       Adjusted EBITDA7(1,776)(5,539) (7,035)(21,314)      Revenue21,124 20,939  53,460 63,788 Adjusted EBITDA(1,776)(5,539) (7,035)(21,314)Adjusted EBITDA Margin(8.4)%(26.5)% (13.2)%(33.4)%           Forward Looking Statements

This document includes “forward-looking statements” within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group’s growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; and the Group’s ability to implement its growth strategies and manage its growth; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to attract traffic to its websites; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to the Group’s information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s annual report for the year ended December 31, 2024 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.

For inquiries, please contact:

Investor Relations:
MoneyHero IR Team
[email protected]

Media Relations:
MoneyHero PR Team
[email protected]

Unaudited Consolidated Statements of Profit or Loss and Other Comprehensive Loss

 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2025 20248  2025 20248  (US$ in thousands, except for loss per share)
      Revenue21,124 20,939  53,460 63,788       Cost and expenses:     Cost of revenue8(12,328)(12,246) (27,793)(40,147)Advertising and marketing expenses(3,948)(4,951) (13,080)(17,664)Technology costs(869)(1,984) (2,608)(6,030)Employee benefit expenses(4,155)(5,723) (12,210)(18,313)General, administrative and other operating expenses(2,598)(2,480) (7,141)(8,089)Foreign exchange differences, net870 10,096  4,793 4,138       Operating (loss)/income(1,905)3,652  (4,579)(22,318)      Other income/(expenses):     Other income152 897  476 1,851 Finance costs(13)(4) (39)(17)Changes in fair value of financial instruments(1,708)1,209  (1,551)972       (Loss)/Profit before tax(3,474)5,754  (5,693)(19,511)Income tax expense- (33) (15)(90)(Loss)/Profit for the period(3,474)5,721  (5,707)(19,601)      Other comprehensive loss     Other comprehensive loss that may be classified to profit or loss in subsequent periods (net of tax):     Exchange differences on translation of foreign operations(333)(9,353) (3,485)(4,361)      Other comprehensive income that will not be reclassified to profit or loss in subsequent periods (net of tax):     Remeasurement gains on defined benefit plan- 8  40 3 Other comprehensive loss for the period, net of tax(333)(9,344) (3,445)(4,358)      Total comprehensive loss for the period, net of tax(3,140)(3,623) (9,153)(23,959)      (Loss)/earnings per share attributable to ordinary equity holders of the parent     Basic and diluted(0.1)0.1  (0.1)(0.5)           Unaudited Consolidated Statements of Financial Position

 As of September 30,As of December 31,(US$ in thousands)20252024   NON-CURRENT ASSETS  Non-current financial asset600600Intangible assets1,4501,018Property and equipment194215Right-of-use assets1,128744Deposits16025Total non-current assets3,5312,601   CURRENT ASSETS  Accounts receivable17,58613,538Contract assets19,19811,825Prepayments and other assets7,39010,149Tax recoverable9063Pledged bank deposits183185Cash and cash equivalents27,92442,522Total current assets72,37078,282   CURRENT LIABILITIES  Accounts and other payables33,12230,209Warrant liabilities2,9441,393Lease liabilities764442Tax payable232Provisions3171Total current liabilities36,86332,147   NET CURRENT ASSETS35,50846,135   TOTAL ASSETS LESS CURRENT LIABILITIES39,03948,736   NON-CURRENT LIABILITIES  Lease liabilities373294Provisions45-Deferred tax liabilities3430Defined benefit liabilities169185Total non-current liabilities620509   Net assets38,41848,227   EQUITY  Issued capital54Reserves38,41448,223Total equity38,41848,227     ___________________

1 Includes 393,566 shares issued to Computershare Hong Kong Investor Services Limited (“Computershare”) which are held in trust pending exercise and settlement of share options by Computershare to the underlying exercising option holder.
2 Public Warrants, Sponsor Warrants, Class A-1 Warrants, Class A-2 Warrants and Class A-3 Warrants are excluded since they are out of the money.
3 The comparative figures for the prior period have not been restated and are presented consistently with the originally issued unaudited financial statements for the third quarter 2024. Subsequently, during the year-end closing process, we revised the estimate for customer reward liabilities. This adjustment, had it been recognized in the third quarter of the prior year, would have decreased cost of revenue and increased Adjusted EBITDA by US$570 thousand each.
4 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable click data for this period following the transition. Please refer to the section titled “Key Performance Metrics and Non-IFRS Financial Measures” for more information regarding the change in methodology.
5 Due to the nature of our business, there is often a delay in receiving confirmation of the number of Applications and Approved Applications by our commercial partners. As a result, the disclosed figures may utilize estimations if data is unavailable.
6 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable monthly unique users and total traffic for this period following the transition. Please refer to the section titled “Key Performance Metrics and Non-IFRS Financial Measures” for more information regarding the change in methodology.
7 The comparative figures for the prior period have not been restated and are presented consistently with the originally issued unaudited financial statements for the third quarter 2024. Subsequently, during the year-end closing process, we revised the estimate for customer reward liabilities. This adjustment, had it been recognized in the third quarter of the prior year, would have decreased cost of revenue and increased Adjusted EBITDA by US$570 thousand each.
8 The comparative figures for the prior period have not been restated and are presented consistently with the originally issued unaudited financial statements for the third quarter 2024. Subsequently, during the year-end closing process, we revised the estimate for customer reward liabilities. This adjustment, had it been recognized in the third quarter of the prior year, would have decreased cost of revenue and increased Adjusted EBITDA by US$570 thousand each.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in TSI over 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.

According to an analytics report, XRP traded near $2.06 on Friday as social chatter around the token turned sharply negative after a two-month slide of about 30%.

Traders and data firms flagged a sudden rise in bearish messages, a shift from the more mixed views seen earlier this year. The mood has tightened around crypto, and XRP is not immune.

Crowd Mood Shifts To Fear
Based on reports from Santiment, its chart tracks XRP’s price against positive and negative comments and a combined sentiment line that aims to measure crowd feeling.

Recent readings pushed the balance into what Santiment calls the fear zone, where negative talk outweighs optimism. On this same model, Santiment pointed to Nov. 21 as a comparable moment.

Back then, XRP rallied more than 20% over the next three days before gains cooled. That past move is being used as a reference point by traders who watch social signals closely.

😨 XRP (-31% in the past 2 months), unlike Bitcoin, is seeing the most fear, uncertainty, & doubt (FUD) since October, according to our social data.

🔴 Circles indicate days where there are abnormally higher BULLISH comments compared to BEARISH comments, about XRP (Greed Zone)… https://t.co/lJNW8zlRwK pic.twitter.com/ZoFmwrtw3h

— Santiment (@santimentfeed) December 4, 2025

Short Squeezes And Reflexive Moves
Extreme pessimism can become a catalyst. When weaker holders sell and shorts pile in, a quick reversal can squeeze sellers and lift price sharply. This is the scenario many are watching: heavy bearish chatter could clear the way for a reflexive rebound if buying pressure appears.

Santiment urged followers to keep an eye on the same dashboard to spot rapid shifts in sentiment, and some traders say the crowd’s mood often leads price in the very short term.

Price Moves And Market Backdrop
XRP was last reported down about 4% at $2.04, extending a loss of roughly 6% over the past month. The total crypto market value slipped about 1% to $3.22 trillion on the same day, a pullback that has dragged on many altcoins even as liquidity stays concentrated in the largest tokens.

XRP market cap currently at $124 billion. Chart: TradingView
Order books on smaller pairs have thinned and leveraged positions were trimmed, leaving less depth to absorb big moves. Traders also cited uncertainty around upcoming US policy decisions as a factor behind cautious positioning.

Institutional Push And On-Ledger Activity
Analysts watching the token say it still has room to run toward $2.50 to $2.75 if cross-border liquidity flows pick up and stablecoin projects on the XRP Ledger gain momentum. Reports have disclosed that Ripple has been moving to broaden its institutional reach.

Buy XRP. Stop focusing on any other Crypto Coins

They don’t matter

— Cameron Scrubs (@imcameronscrubs) December 2, 2025

Last month, the firm launched digital asset spot prime brokerage services in the US after acquiring Hidden Road and folding it into Ripple Prime, a combined trading and custody setup for professional clients. That push is being watched as a potential longer-term support for demand.

Vocal Bulls And Market Signals
Despite the FUD surrounding XRP, Cameron Scrubs, founder of Tradeship University, has again urged followers to “buy XRP,” stating that other crypto assets “don’t matter.” In previous posts, he also called to “sell everything and buy XRP.”

Traders are watching these statements closely as sentiment shifts, while on-chain data and social signals are being monitored for indications that the current negative chatter may be starting to ease.

Featured image from Gemini, chart from TradingView

Aster eyes $1.1 recovery, potential $1.3 breakout, but risks invalidation if $1 support fails.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitwise Chief Investment Officer Matt Hougan is pushing back against one of the loudest bearish narratives around bitcoin treasury company Strategy (MSTR, formerly MicroStrategy): that it could be forced into a liquidation of its roughly $60 billion bitcoin stack. In his latest CIO memo, Hougan writes bluntly that “Michael Saylor and Strategy selling bitcoin is not one of” the real risks in crypto.

Will Strategy Sell Its Bitcoin?
The immediate trigger for market anxiety is MSCI’s consultation on whether to remove so-called digital asset treasury companies (DATs) like Strategy from its investable indexes. Nearly $17 trillion in assets tracks those benchmarks, and JPMorgan estimates index funds might have to sell up to $2.8 billion of MSTR if it is excluded.

MSCI’s rationale is structural: it views many DATs as closer to holding companies or funds than operating companies, and its investable universes already exclude holding structures such as REITs.

Hougan, a self-described “deep index geek” who previously spent a decade editing the Journal of Indexes, says he can “see this going either way.” Michael Saylor and others are arguing that Strategy remains very much an operating software company with “complex financial engineering around bitcoin,” and Hougan agrees that this is a reasonable characterization. But he notes that DATs are divisive, MSCI is currently leaning toward excluding them, and he “would guess there is at least a 75% chance Strategy gets booted” when MSCI announces its decision on January 15.

He argues, however, that even a removal is unlikely to be catastrophic for the stock. Large, mechanical index flows are often anticipated and “priced in well ahead of time.” Hougan points out that when MSTR was added to the Nasdaq-100 last December, funds tracking the index had to buy about $2.1 billion of stock, yet “its price barely moved.”

He believes some of the downside in MSTR since October 10 already reflects investors discounting a probable MSCI removal, and that “at this point, I don’t think you’ll see substantial swings either way.” Over the long term, he insists, “the value of MSTR is based on how well it executes its strategy, not on whether index funds are forced to own it.”

The more dramatic claim is the so-called MSTR “doom loop”: MSCI exclusion leads to heavy selling, the stock trades far below NAV, and Strategy is somehow forced to sell its bitcoin. Here Hougan is unequivocal: “The argument feels logical. Unfortunately for the bears, it’s just flat wrong. There is nothing about MSTR’s price dropping below NAV that will force it to sell.”

He breaks the problem down to actual balance sheet constraints. Strategy, he says, has two key obligations: about $800 million per year in interest payments and the need to refinance or redeem specific debt instruments as they mature.

Smaller DATs Are The Bigger Problem
On interest, the company currently has approximately $1.4 billion in cash, enough to “make its dividend payments easily for a year and a half” without touching its bitcoin or needing heroic capital markets access. On principal, the first major maturity does not arrive until February 2027, and that tranche is “only about $1 billion—chump change” compared with the roughly $60 billion in bitcoin the company holds.

Governance further reduces the likelihood of forced selling. Michael Saylor controls around 42% of Strategy’s voting shares and is, in Hougan’s words, a person with extraordinary “conviction on bitcoin’s long-term value.” He notes that Saylor “didn’t sell the last time MSTR stock traded at a discount, in 2022.”

Hougan concedes that a forced liquidation would be structurally significant for bitcoin, roughly equivalent to two years of spot ETF inflows dumped back into the market. He simply does not see a credible path from MSCI index mechanics and equity volatility to that outcome “with no debt due until 2027 and enough cash to cover interest payments for the foreseeable future.” At the time of writing, he notes, bitcoin trades around $92,000, about 27% below its highs but still 24% above Strategy’s average acquisition price of $74,436 per coin. “So much for the doom.”

Hougan ends by stressing that there are real issues to worry about in crypto—slow-moving market structure legislation, fragile and “poorly run” smaller DATs, and a likely slowdown in DAT bitcoin purchases in 2026. But on Strategy specifically, his conclusion is direct: he “wouldn’t worry about the impact of MSCI’s decision on the stock price” and sees “no plausible near-term mechanism that would force it to sell its bitcoin. It’s not going to happen.”

At press time, BTC traded at $92,086.

Bitcoin remains below the 0.618 Fib, 1-week chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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Bitcoin's corporate and index fund exposure poses overlooked systemic risks, says CFR's Patterson. Why the Next Crypto Crisis Could Spread to Traditional Markets.

Newton Gitonga2 min read

5 December 2025, 11:01 AM

A senior financial policy expert has challenged the narrative surrounding Bitcoin's role in investment portfolios. Rebecca Patterson from the Council on Foreign Relations argues that Bitcoin remains fundamentally speculative despite growing institutional adoption.

Patterson outlined her concerns during an appearance on Bloomberg. She questioned whether investors grasp Bitcoin's true function in modern portfolios. The digital asset continues to exhibit speculative characteristics rather than the defensive properties many attribute to it.

The Store of Value DebatePatterson disputes the common classification of Bitcoin as a store of value. She points to the cryptocurrency's history of significant price drawdowns and its reaction to changing liquidity conditions. These patterns contradict the stability investors expect from traditional stores of value.

The mislabeling creates real portfolio risks. Investors purchasing Bitcoin for protection may discover the asset cannot deliver during market stress. Patterson describes this as applying mature asset characteristics to something that remains immature.

Bitcoin has not demonstrated consistent behavior across multiple market cycles. Patterson believes this inconsistency indicates that the asset retains its original high-risk exposure. Sharp reversals remain a defining feature rather than an anomaly.

The gap between perception and reality matters for allocation decisions. Treating Bitcoin as a hedge when it behaves as a risk asset leads to poorly constructed portfolios. Patterson suggests investors need clearer thinking about what Bitcoin actually provides.

New Contagion Pathways EmergeEarlier cryptocurrency crises largely remained isolated within digital asset markets. Patterson notes the landscape has changed substantially. Corporate treasuries now hold Bitcoin positions. Publicly traded companies maintain massive cryptocurrency exposures. Passive index funds connect indirectly to these firms.

Strategy serves as Patterson's primary example. The company is scheduled to undergo an MSCI index review on January 15. The outcome will determine whether major passive funds continue holding the stock. Removal from the index would trigger automatic selling by funds tracking that benchmark.

MicroStrategy's substantial Bitcoin holdings mean the impact extends beyond equity markets. Patterson identifies this index-channel exposure as a critical, yet overlooked, risk. The mechanics of passive fund rebalancing could create selling pressure across multiple markets simultaneously.

These connections represent structural changes from previous crypto downturns. FTX's collapse affected primarily those directly involved in cryptocurrency markets. Patterson argues the next major disruption will spread differently. Traditional finance now contains multiple transmission channels for crypto market stress.

Patterson challenges the assumption that institutional involvement reduces volatility. She argues the opposite may prove true. Each new connection between digital assets and mainstream markets creates potential for cross-market contagion.

Large institutional players move significant capital. Their entry and exit from positions can amplify price swings rather than dampen them. Patterson notes that these dynamics differ from the retail-dominated markets of Bitcoin's early years.

The question has shifted for portfolio managers. Bitcoin's independence from traditional markets is no longer the central concern. Patterson frames the issue differently: Can traditional markets remain insulated from the turbulence of Bitcoin?

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Newton Gitonga

Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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Poste Italiane is weighing options to keep a big stake in Telecom Italia (TIM) , including selling its broadband arm to the former phone monopoly in exchange for shares, three people with knowledge of the matter told Reuters.

Coinbase's Ethereum layer-2 network, Base, has integrated with Solana through a newly launched bridge powered by Chainlink's Cross-Chain Interoperability Protocol (CCIP). The integration allows seamless transfers of tokens, NFTs, and other digital assets between the two networks, marking a major milestone in bridging EVM-compatible chains with Solana's non-EVM architecture.

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December 5, 2025

JPMorgan analysts say the near-term direction of Bitcoin’s price now depends less on miner behavior and more on the financial resilience of Strategy, the world’s largest corporate holder of Bitcoin, even as mining pressure and market volatility persist.

In a report led by managing director Nikolaos Panigirtzoglou, the bank identified two forces currently weighing on Bitcoin. The first is a recent decline in Bitcoin’s network hashrate and mining difficulty.

The second is the growing market focus on Strategy’s balance sheet and its ability to avoid selling its Bitcoin holdings during the ongoing market downturn.

High-Cost Bitcoin Miners Capitulate as Hashrate Slips and Margins CollapseThe decline in hashrate reflects a combination of China reiterating its ban on private mining activity and high-cost miners outside the country retreating as falling Bitcoin prices and elevated electricity costs squeeze profitability.

JPMorgan now estimates Bitcoin’s production cost at $90,000, down from $94,000 last month. The estimate assumes electricity priced at $0.05 per kilowatt hour, with every $0.01 increase adding roughly $18,000 to production costs for higher-cost miners.

Source: GlassnodeWith Bitcoin trading near $92,000, JPMorgan said the asset continues to hover close to its estimated production cost, creating sustained selling pressure from miners.

As profits tighten, several high-cost producers have been forced to liquidate Bitcoin holdings in recent weeks to remain solvent.

Despite those pressures, JPMorgan said miners are no longer the key driver of Bitcoin’s next major move. Instead, attention has shifted to Strategy’s ability to maintain its Bitcoin position without being forced into sales.

Strategy’s enterprise-value-to-Bitcoin-holdings ratio currently stands at 1.13. That figure reflects the combined market value of its debt, preferred stock, and equity relative to the market value of its Bitcoin treasury.

Source: BitcoinTreasuries.NETAccording to JPMorgan, the fact that the ratio remains above 1.0 is “encouraging” because it shows that Strategy is unlikely to face pressure to sell Bitcoin to meet interest or dividend obligations.

The company recently reinforced that position by creating a $1.44 billion U.S. dollar reserve through ongoing at-the-market equity sales.

The reserve is designed to cover dividend payments and interest expenses for at least 12 months, with the company targeting coverage of up to 24 months.

JPMorgan said the reserve significantly reduces the risk of forced Bitcoin sales in the foreseeable future.

JPMorgan Sees $170K Bitcoin Scenario Despite Strategy’s MSCI Index RiskStrategy’s Bitcoin accumulation has slowed sharply in recent months, though it remains deeply exposed to price movements.

In November, it added 8,178 BTC in its largest purchase since July, bringing total holdings to roughly 650,000 BTC. Its basic market capitalization stands near $54 billion, with an enterprise value of about $69 billion.

Source: CryptoQuant Markets are also watching an upcoming decision by MSCI on whether to remove Strategy and other digital-asset treasury companies from its equity indices. JPMorgan said the downside risk from exclusion is largely priced in.

Since MSCI launched its review in October, Strategy’s share price has fallen roughly 40%, underperforming Bitcoin by about $18 billion in market value.

JPMorgan estimates that an MSCI exclusion could trigger $2.8 billion in passive outflows, with as much as $8.8 billion at risk if other index providers follow suit.

Even so, the bank said further downside would likely be limited. By contrast, if MSCI keeps Strategy in major indices, JPMorgan said both Strategy and Bitcoin could rebound sharply toward pre-October levels.

Beyond corporate balance sheets, JPMorgan continues to point to broader crypto market structure for longer-term upside. The bank said perpetual futures deleveraging appears largely complete following record liquidations in October.

At the same time, Bitcoin’s volatility ratio relative to gold has improved, strengthening its risk-adjusted appeal to investors.

Based on those metrics, JPMorgan reiterated its volatility-adjusted comparison of Bitcoin to gold, which implies a theoretical Bitcoin price near $170,000 over the next six to twelve months if market conditions stabilize.

Notably, Bitcoin is currently trading about $68,000 below that level.

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Story HighlightsThe live price of the LUNC crypto token is  $ 0.00004199.Terra Classic price is expected to reach as high as $0.000675 by the end of 2025.LUNC price could surge to a maximum of $0.00212 by the end of 2030.Terra Classic (LUNC), the token that rose from one of crypto’s biggest collapses, is still in recovery mode. Despite community dedication and ongoing technical updates, the token has yet to regain strong momentum.

Since the start of the year, LUNC’s price has been hovering in a tight range, between $0.00005 and $0.0001. There’s no clear trend, only cautious optimism from parts of the community.

With the crypto market awaiting a bullish influence, the hope for a breakout rally in LUNC gains momentum. Amidst this query, like “Will Terra LUNC make a comeback?” “Is Terra LUNC dead?” has been flooding the internet. Coinpedia’s new Terra Lunc price predictions for 2025 and the years to come will solve all your doubts!

CryptocurrencyTerra ClassicTokenLUNCPrice$0.0000 48.63% Market Cap$ 230,301,407.2224h Volume$ 94,571,897.4216Circulating Supply5,485,189,208,333.54Total Supply6,480,489,381,049.46All-Time High$ 119.1846 on 05 April 2022All-Time Low$ 0.0000 on 13 May 2022Terra Classic Price Prediction 2025Recently, on July 25, a major software update, SDK 50.13 was launched. It was designed to improve Terra Classic’s connection to Cosmos, making the network more efficient and modern. But by July 27, validators had rejected it, citing the need for revisions.

With a revival plan, the LUNC price might reach a maximum of $0.000675. On the contrary, if there’s a lack of development, the price might land at $0.0000452, with a regular price of around $0.000163.

YearPotential Low ($)Average Price ($)Potential High ($)20250.00004520.0001630.000675LUNC Price Prediction 2026 – 2030YearPotential Low ($)Average Price ($)Potential High ($)20260.0006330.0007170.00080120270.0007540.0008350.00091720280.0009070.0011030.0013020290.001160.0014050.0016520300.001480.0018000.00212Market AnalysisFirm Name20252030Wallet Investor$0.0000186–priceprediction.net$0.000517$0.0033DigitalCoinPrice$0.000733$0.00215CoinPedia’s Price PredictionThe constant upgrades and partnerships could boost the price of Terra Classic (LUNC). According to CoinPedia’s forecast and bullish market sentiments, LUNA’s price may reach $0.000675 by the end of 2025. However, market fluctuations may cause it to fall to $0.0000452.

YearPotential Low ($)Average Price ($)Potential High ($)20250.00004520.0001630.000675Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQsWill Terra Classic (LUNC) go up in 2025?

LUNC may rise if upgrades succeed, with some forecasts expecting a 2025 high near $0.000675. Progress and market sentiment will strongly influence results.

Is Terra Classic (LUNC) still worth holding?

LUNC remains a high-risk asset, but ongoing community development keeps hopes alive. It suits investors comfortable with volatility and long-term uncertainty.

Is LUNC recovering after its 2022 crash?

LUNC shows signs of recovery with rising trading, staking, and burns, but it remains down 80% this year, reflecting broader market challenges.

Does the LUNC coin have a future?

LUNC’s future depends on continued network upgrades, community support, token burns, and market adoption, showing cautious long-term potential.

Disclaimer and Risk WarningThe price predictions in this article are based on the author's personal analysis and opinions. CoinPedia does not endorse or guarantee these views. Investors should conduct independent research before making any financial decisions.

Summary:

With the Fed decision coming up next week, this article provides Ethereum price predictions that could play out with different news scenarios.
1. Introduction: Macro meets crypto
The markets are pricing in a Fed rate cut in the December meeting, and everyone in the financial markets, from gold traders to the bond desks and crypto enthusiasts, is on edge.

Just like Bitcoin, Ethereum has proven to respond well to rumours and Fed rate decisions. Ethereum is paired with the US Dollar (ETH/USD) or a stablecoin such as Tether (ETH/USDT) on most exchanges, available for spot or margin trading. A Fed rate cut makes it less attractive to hold a lower-yielding dollar, which is expected to make the risk-sensitive crypto asset more attractive.

2. Why Fed rate cuts matter for Ethereum
On one hand, we have the US Dollar, which has benefited from higher interest rates in 2022. Higher US interest rates increase the demand for the US Dollar and USD-denominated assets, while reducing the appeal for risky assets such as Ethereum. Once rates start to come down, risky assets become more appealing at the US Dollar’s expense.

Ethereum works like a “high beta tech” or long-duration risk asset. Crypto flows typically start flowing from the “rumour,” which is the rate expectation (usually seen on the Fedwatch tool). You start to see the US Dollar index heading lower as the event approaches.

Previous episodes, which have seen the Fed move from aggressive rate hikes to a pause, have led to crypto relief rallies. A December rate cut shifts policy from restrictive to easing, changing Ethereum’s 2026 narrative.

3. Ethereum’s fundamentals heading into the Fed Dec 10 Meeting
Ethereum is just emerging from the ashes of a steep late November 2025 selloff that signalled a 40% correction from its Aug 24 high. Presently, the ETH/USDT pair has formed a double bottom, with a break and retest of the neckline at 3062. A Fed cut can amplify this recovery pattern in the near term.

Figure 1: ETH/USDT Daily Chart Showing Double Bottom (snapshot taken December 4, 2025)
4. Possible market reactions
There are three possible scenarios:

a) Dovish cut + dovish guidance: Here, the Fed cuts rates, and the statement or the Fed Chair’s press conference hints at more easing in 2026. A dovish cut and dovish guidance will have the following likely reactions:

Weaker dollar → risk-on sentiment across tech and crypto assets. This is bullish for ETH.
ETH could push higher above the 3062 neckline and aim for the measured move target of the double bottom. This move reflects liquidity rotation from BTC-only to ETH and altcoins.

b) Dovish cut + hawkish spin: Fed cuts once but stresses “no rush to keep cutting”. In this instance, the market interprets this move as a “once-and-done” move, not a complete easing cycle.

ETH spikes on the headline, then enters into a choppy phase as traders reassess the news.
This outcome suits range-trading only.

c) No cut or surprise hawkish stance: In this instance, this is considered a disappointment or a market surprise.

There is a USD squeeze, risk-off sentiment
ETH will sell off sharply, triggered by liquidations in leveraged DeFi and perpetual markets.

5. Trade Scenarios to Consider
There are three possible ways to trade this outcome with Ethereum.

1) Pre-event trades: these require positioning before the news release. If the odds are heavily in favour of a rate cut, positioning into ETH with spot longs may be one way to trade. Using perpetuals or trading on margin is very risky, as the outcome could easily go the other way. Using spot enables the trader to mitigate the impact of an adverse outcome by dollar-cost averaging (i.e., adding to the position at lower prices to average down the entry price). You can then hold for longer until recovery.

2) Post-event trades: Those who have a conservative approach can wait for the close of the day post-meeting before committing to positions. The advantage is that the trader has solid data to base a trade decision on.

3) ETH/BTC and sector rotation: If there is broad risk-on sentiment due to the rate cut, ETH may outperform BTC as traders rotate out of BTC and into the layer-2 protocols or DeFi. Ethereum is the number 1 crypto for DeFi and Layer-2, but others like Solana are gaining ground. Consider high-quality ETH ecosystems in these sectors for correlated positioning. You may also consider long positions directly on the ETH/BTC pairs.

Please note: Fed trades can whipsaw heavily intraday, regardless of the outcome. It is better to stay disciplined and only open positions when the dust has settled. There are no guarantees whatsoever for straight-line rallies or declines.

Also note that the above is not financial advice and does not recommend buying or selling any crypto asset. It is purely for educational purposes to expose you to potential frameworks and scenarios.

This article was originally published on InvestingCube.com. Republishing without permission is prohibited.

CZ and Peter Schiff spar over Bitcoin and tokenized gold, exposing a deeper fight about utility, trust, and what really backs the money of the future.

Summary

Peter Schiff argues tokenized, fully allocated gold is superior money, calling Bitcoin a faith based asset backed by nothing.​
CZ defends Bitcoin as scarce, borderless infrastructure with real world utility, from African bill payments to silent card based spending.​
The debate never resolves but crystallizes a core choice between physical reserves and digital networks as the next monetary foundation.

Binance’s latest headline debate is not really about metal versus code or Bitcoin. It is about what people trust in a world where inflation gnaws at savings, ETFs hoover up retail capital, and tokenization moves from marketing slogan to live product. In “Bitcoin vs Gold: CZ & Peter Schiff Battle Over the Future of Money,” the Binance founder and the gold bug economist fight over whether the next monetary standard will live in vaults or in wallets, and whose believers end up holding the bag.​

Vaults, tokens, Bitcoin “backed by nothing”
Peter Schiff comes armed with a concrete offer. Through his platform TGold, he tells the audience, users can buy “segregated and vaulted” metal and later withdraw bars, coins or a digital claim on that same gold. “The token is the evidence that you own it,” he says, comparing it to a coat check ticket that is not a coat but gets you the coat on demand. For Schiff, tokenized bullion “improves on all of [gold’s] monetary properties” by making it more divisible and transferable “without losing the most important property, which is it’s a store of value because its value is the gold that the token represents.”​

That sets up his familiar broadside at Bitcoin (BTC). Fiat currencies, he says, are “paper currency backed by nothing” that only survive on “faith and confidence,” and “what Bitcoin is like, Bitcoin is like the fiat currency because it’s backed by nothing.” Tokenized gold, by contrast, is “legitimate because it’s backed by something” and “derives its value from gold,” while Bitcoin “derives its value from confidence, from faith. If people think it has value, then they’re willing to buy it.” The critique lands in a cycle where Bitcoin ETFs keep pulling in billions, even as central banks quietly extend a record run of physical gold purchases in response to inflation and geopolitical fractures.​

CZ’s virtual value and the utility card
CZ does not contest that tokenization upgrades bullion. “The digitized gold might be actually better than gold in a lot of ways,” he tells Schiff, praising its divisibility and portability and even saying he hopes to list the TGold token on Binance. What he rejects is the idea that lack of physical substance makes Bitcoin fragile. “Bitcoin itself actually doesn’t exist,” he explains. “All there is is records of transactions on the blockchain.” Yet that is no different in principle, he argues, from the way users ascribe value to X or Google: “The internet has nothing physical [but] has value. It’s a utility tool.”​

The utility argument now has live data behind it. Since January, billions have flowed into spot Bitcoin ETFs in the United States and other markets, giving pension funds and traditional asset managers tidy exposure to what CZ calls “an entire industry, not just money.” He leans hard on that framing. Bitcoin, he says, is “a two or three trillion dollar asset and it’s still growing,” and its usefulness shows up not just on trading screens but in payments rails, custody businesses and on chain settlement that underpin everything from stablecoins to DeFi.​

When Schiff claims Bitcoin “does nothing” beyond transfer itself, CZ counters with a story from the margins. An African user wrote to him, he says, explaining that “before crypto it takes him three days to pay a bill” on foot, whereas “after Binance he has access to crypto and now paying the bill is three minutes,” allowing him to build savings of “$50, $100, $300, $1,000” in a very poor country. For CZ, that is not theory. “That improves people’s materially … improved his life,” he says, and it is hard to imagine doing the same thing with a one kilogram bar and a border guard.​

Speculation, cycles and who learns the lesson
Schiff repeatedly drags the discussion back to motives. “Bitcoin is being used as a speculative digital asset,” he insists, “not being used as money.” In his telling, most flows into spot ETFs and corporate treasuries look less like a monetary revolution and more like a familiar risk trade, no different in spirit from retail piling into tech stocks in 2021. He notes that when Bitcoin hit 69,000 dollars in the previous cycle it bought “37.2 ounces of gold,” whereas “today … it buys 22.15 ounces,” meaning that “Bitcoin buys 40 percent fewer ounces of gold today than it did four years ago.” With gold and silver both breaking into fresh highs this year and central banks still accumulating bullion, he argues, “one of the reasons that Bitcoin was able to do so well” is that gold “went sideways for about 12, 13 years,” a period he now sees reversing.​

CZ pushes back that this is a selective reading of time frames and a narrow definition of money. He reminds Schiff that he took a salary in Bitcoin as early as 2014 and that Binance has contracts fixed directly in BTC rather than in dollar equivalents. He also points to the millions of Binance Visa cards in circulation, where users “just swipe [the] card and the crypto gets deducted” while the merchant receives fiat. Schiff calls that proof that Bitcoin is only collateral that gets “sold to get money,” but CZ frames it as silent adoption: from the user’s point of view, “they are using it for payments.”

The debate brushes against a wider market backdrop. Michael Saylor still talks about “10 million dollars a coin” on conference stages, even as cyclical drawdowns and policy uncertainty keep volatility high. At the same time, tokenized Treasuries, stablecoins and gold backed instruments like TGold are becoming one of the fastest growing niches in crypto, pulling in both DeFi experiments and institutional pilots. Schiff’s bet is that as inflation bites harder, merchants will “prefer to receive gold” in settlement, while CZ’s wager is that younger generations will default to digital rails and that Bitcoin will benefit from that gravitational pull.​

In the end, there is no handshake conversion, only a neat encapsulation of two incompatible theses. Schiff says bluntly that “all Bitcoin does is enable a transfer of wealth from the people who buy Bitcoin to the people who sell it,” and that “the good news for all the young people that are going to get wiped out in Bitcoin is that it will prevent you from losing more money in the future.” CZ smiles, invites him to bring TGold on chain, and leaves the crowd with a line that doubles as a statement of intent for the entire industry: “I think gold will do well, but I think Bitcoin will do even better.”

Cover image via U.Today

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

A crucial upgrade alert has been issued to XRP Ledger validators. In a tweet, Jon Nilsen, an XRPL validator, passes a message to XRP Ledger validators to upgrade to the most recent rippled version 2.6.2 or risk being amendment-blocked in the next 13 days and 20 hours.

"If you are running an XRPL node, please update to the latest v2.6.2 of #rippled, or risk being amendment-blocked in 13 days and 20 hours," Nilsen wrote.

In a Nov. 19 XRPL blog post, it was announced that version 2.6.2 of rippled, the reference server implementation of the XRP Ledger protocol, was now available. The release included a new fixDirectoryLimit amendment and a critical bug fix.

"fixDirectoryLimit," an XRPL amendment that removes directory page limits, was activated for voting with the release. A bug that caused an assertion failure when all the inner transactions of a Batch transaction were invalid was fixed.

HOT Stories

In a recent tweet, Ripple CTO David Schwartz revealed that his hub had been running rippled version 2.6.2 for more than a week with no issues, indicating he himself had subscribed to the upgrade.

XRPL smart escrowsIn a tweet, Vet, an XRPL validator, shared optimism about Smart Escrows coming to the XRP Ledger. Smart Escrows introduce custom conditions to escrow funds directly on-chain with the native escrow feature. Users can release escrow funds based on the XRP price using oracles, alongside other use cases.

According to RippleX software engineer Mayukha Vadari, as a new vision for permissionless programmability emerges, the first major component of this initiative is the concept of Smart Features, which allows developers some limited customizability, built on top of individual XRPL primitives.

Escrow is the very first primitive to receive this upgrade: enter Smart Escrows. XRPL Escrows are essentially on-chain contracts that govern the all-or-nothing transfer of funds from one account to another based on pre-agreed terms. Currently, they can only hold XRP, but the TokenEscrow amendment (currently up for voting) will enable holding both IOUs (issued assets) and MPTs (multi-purpose tokens).

STAMFORD, Conn.--(BUSINESS WIRE)--ITT, a leading provider of highly engineered critical components announced it has entered into a definitive agreement to acquire SPX FLOW.

Woori Bank becomes the first South Korean commercial bank to display Bitcoin prices in its Seoul trading room alongside traditional market indicators.

Newton Gitonga2 min read

5 December 2025, 09:28 AM

Woori Bank has installed Bitcoin price displays in its main trading room in Seoul. The cryptocurrency now appears alongside traditional financial indicators, including the won-dollar exchange rate and stock market data.

The development represents the first instance of a South Korean commercial bank incorporating crypto pricing into its frontline dealing environment. Traders who handle foreign exchange, bonds, and derivatives now have direct access to real-time Bitcoin data.

Bitcoin price display, Source: X

A bank official explained the rationale behind the integration. Digital assets have gained significant influence in global financial markets. Bitcoin serves as an important signal for broader market sentiment. The bank views cryptocurrency monitoring as essential for understanding overall market trends.

Banking Sector Embraces Digital Asset InfrastructureThe Korean banking industry is expanding its involvement in digital asset services. Hana Financial Group partnered with Dunamu this week. Dunamu operates the Upbit exchange. The collaboration will bring blockchain technology into various banking services. These include overseas remittances and financial data systems.

Woori Bank has not yet announced a formal exchange partnership. However, senior executives have consistently indicated plans to enter the digital asset space. CEO Jung Jin-wan addressed the topic in October. He described payments and digital asset ecosystems as increasingly interconnected. The executive suggested the sector could generate new revenue streams for traditional banks.

Regulatory developments are creating clearer frameworks for institutional involvement. The government and the ruling Democratic Party are reviewing a proposal for a stablecoin. The plan would limit won-based stablecoin issuance to bank-led consortia. Banks would need to hold majority ownership in these arrangements. If passed, major lenders like Woori could become central players in stablecoin markets.

Retail Investors Drive Crypto ActivitySouth Korean retail investors demonstrated a strong appetite for digital assets during the recent Chuseok holiday period. Between October 3 and 9, investors allocated $1.24 billion to US tech and crypto-linked assets. Local markets remained closed during this period.

Leveraged ETFs attracted substantial capital. High-growth stocks also drew significant interest. Traders attempted to capitalize on the momentum on Wall Street. Optimism about the US tech sector's resilience and potential domestic stimulus measures fueled the surge in trading.

South Korea announced plans for comprehensive cryptocurrency transaction monitoring last week. The country will expand its travel rule requirements to cover smaller transactions. The new threshold applies to transfers of less than 1 million won, approximately $680.

Current regulations allow users to avoid identity verification by splitting transfers into smaller amounts. The updated rules will close this loophole. All transactions will require proper identification, regardless of the transaction size.

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Newton Gitonga

Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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Bitcoin

This stablecoin issuer has very different motivations for buying Bitcoin than most investors.

During the past three months, Bitcoin's (BTC 2.13%) price slid as much as 21%, sending the crypto market into a tizzy of anxiety. Right in the middle of that slump, the coin had an unusually committed buyer. Tether, the issuer of the USDT (USDT +0.01%) stablecoin, the world's largest, spent about $1 billion from its reserves into new Bitcoin purchases, expanding its already large stash of coins right when many investors were bailing out.

If a systemically important stablecoin issuer is buying the dip here, does that mean regular investors should, too?

Image source: Getty Images.

Why Tether is buying
Before considering whether to imitate Tether, it helps to understand what game it's trying to play.

USDT is a dollar-pegged stablecoin that is backed by a large portfolio of reserves. Those reserves currently total about $181 billion, mostly in short-term U.S. Treasuries, with the rest in gold, Bitcoin, secured loans, and other investments. As of the end of the third quarter, management reported about $135 billion in Treasury holdings, $13 billion in gold, and $10 billion in Bitcoin inside that reserve portfolio. Those numbers put Tether among the largest non-government holders of both gold bullion, which it has also been accumulating at a rapid pace recently, and Bitcoin.

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The recent $1 billion purchase of Bitcoin is thus part of a pattern of shoring up reserves when prices look favorable. What's more, Tether is profitable because it earns interest fees on its enormous Treasury bill and bond pile. So the company is using a slice of those profits to buy assets like Bitcoin and gold, which might boost its long-term returns and differentiate USDT from rival stablecoins that stick almost entirely to cash and bills for reserves.

What to do here
So, should a regular investor buy Bitcoin because Tether is buying it? Probably not.

Tether can afford to funnel a slice of its substantial earnings into volatile assets like Bitcoin and easily wait out bad years if they occur. A household investor living off a salary or retirement income does not always have that luxury.

The core reason Tether likes having Bitcoin on its balance sheet overlaps with the basic investment thesis for owning some Bitcoin in a retirement portfolio. The coin can't have more of its supply printed like a fiat currency can, and thanks to its halving program, its scarcity increases over time as the rate of new supply being mined drops mechanically. Meanwhile, it is increasingly integrated into the traditional financial system, from large corporate treasuries to exchange-traded funds (ETFs) and even in some proposed sovereign reserves. So buying this asset right now is a bet that its adoption and scarcity will keep increasing during the next decade despite plenty of volatility along the way.

That points to a very different playbook from Tether's for those who choose to dabble. Spread your purchases out over time using dollar-cost averaging rather than doing one huge buy, mentally commit to holding your position for many years, and steel yourself for large declines without panic selling.

Tether's decision to buy the dip here is a vote of confidence in Bitcoin's long-term value, and it lines up with the idea that it's a sensible practice for most investors to own at least a small amount of it. The right way to follow suit is to keep your investment fairly modest, be consistent with slow accumulation of the coin, and to have a clear understanding that this is one of the riskier slices of a diversified portfolio.

Tom Lee forecasts Ethereum at $20K, saying BTC’s old cycle is over and ETH will lead tokenized assets as its long consolidation breaks to the upside.

Summary

Tom Lee says Bitcoin’s classic four-year cycle is dead and expects new BTC highs in early 2026 after tracking the S&P 500 in 2025.​
He argues Ethereum is undervalued, could reach $20K, and will anchor future tokenized securities and payment infrastructure.​
ETH has broken a five-year range, with technicals showing a W-pattern and RSI behavior pointing to further upside despite near-term resistance.

Fundstrat Global Advisors co-founder Tom Lee projected Ethereum could reach $20,000 based on anticipated growth in asset tokenization, according to remarks delivered at the Binance blockchain conference in Dubai this week.

Lee stated that Bitcoin’s traditional four-year cycle has ended and predicted the cryptocurrency would establish new price highs in early 2026. He forecast Bitcoin would track the performance of the S&P 500 stock index in the coming year before reaching a significant price peak.

Tom Lee presents massive Ethereum surge
The analyst suggested Ethereum would benefit substantially from this market environment, citing Wall Street’s increasing adoption of securities tokenization. According to data from RWA.xyz, Ethereum networks currently hold more than 70% market share of real-world asset tokenization value when layer-2 solutions and EVM-compatible platforms are included.

Lee noted Ethereum’s (ETH) price has remained range-bound for five years but has recently begun to break out of this pattern. He cited this extended consolidation period as a potential indicator of a significant price movement, explaining his decision to convert BitMine into an Ethereum treasury company.

The executive characterized Ethereum as undervalued at current price levels, projecting the network would become central to future financial infrastructure and payment systems.

BitMine has executed multiple Ethereum purchases this week, according to blockchain analytics platform Lookonchain, though the company has not officially confirmed the transactions. The exact amount of the purchases was not disclosed.

Market analyst using the handle “Sykodelic” provided technical analysis suggesting Ethereum could experience upward price movement. The analyst noted that over the past five years, Ethereum has rebounded significantly when the one-day Relative Strength Index moved from overbought to oversold conditions before breaking trend lines.

Ethereum traded lower during Asian trading hours after failing to break through resistance levels. The cryptocurrency has gained in recent weeks, recovering from a double-bottom formation and appearing to form a W-shaped pattern on price charts.

10h45 ▪
3
min read ▪ by
Luc Jose A.

Summarize this article with:

Supported by record inflows into spot ETFs and a favorable technical configuration, Ethereum quietly outperforms bitcoin. As flows shift and retail interest rises again, a turning point is happening. Is the trend changing permanently ?

In brief

Ether outperforms bitcoin in recent weeks, both technically and fundamentally.
Spot ETFs on ETH recorded $360M net inflows, compared to only $120M for BTC.
This dynamic suggests a capital rotation in favor of Ethereum, which regains the short-term upper hand.
If conditions hold, a target of $3,900 for ether is now considered.

Flows reverse : ETH attracts capital at BTC’s expense
In the last two weeks, financial products backed by Ether recorded net capital inflows sharply contrasting with those of bitcoin.

Indeed, spot ETFs on ETH attracted $360 million in net inflows, compared to only $120 million for BTC ETFs, three times more. This sudden imbalance reflects a temporary but significant change in investor preferences. It also validates the thesis of a capital rotation in favor of Ether.

This favorable dynamic for ETH is also observed in its structural outperformance against bitcoin. Here are the key elements to remember :

Massive inflows to ETH spot ETFs : +$360M in two weeks, versus +$120M for BTC ;

Technical momentum in favor of ETH : the asset surpassed a 20-day high above $3,200, validating a bullish breakout ;

BTC lagging behind : it awaits a strong signal, with a decisive technical close above $96,000 still absent ;

The ETH/BTC comparison : the gap widens in favor of Ether, which regains the short-term upper hand technically.

In summary, ETH benefits from a context where capital is redeploying in its favor, reinforced by technical signals indicating a clear trend change. Conversely, bitcoin remains under pressure and has not yet validated a comparable bullish setup.

Technical signals supporting
Beyond institutional moves, Ether’s dynamic is also supported by renewed interest from retail investors.

It should be noted that a turning point occurred on November 21, when the price of ETH fell below $2,700, triggering a wave of purchases by retail investors. This behavior recalls previous episodes, notably spring 2023, where an initial accumulation phase by retail preceded a more pronounced correction, followed by a prolonged rebound.

Technical indicators also support the thesis of a moderate bullish continuation. Ether’s Net Unrealized Profit/Loss (NUPL) currently stands around 0.22, which corresponds to a zone of balance, neither euphoric nor bearish.

Furthermore, as long as this indicator remains above 0.20, sentiment stays favorable for a rebound whenever catalysts appear. Graphically, ETH/BTC has broken upwards out of a 30-day consolidation zone and has regained its 200-day moving average, a zone historically coinciding with prolonged periods of ETH outperforming BTC.

The hypothesis of Ethereum at $10,000 surfaces again. The momentum is there, but nothing is guaranteed. Between speculative appetite and investor caution, the trajectory remains dependent on upcoming signals.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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.

TLDR

Ophelia Snyder, co-founder of 21Shares, doubts Bitcoin will replicate its early 2025 price gains in 2026.
Snyder attributes the uncertainty to ongoing market volatility, which may not resolve in the short term.
Bitcoin often sees renewed inflows into ETFs in January, but current market sentiment is low.
Bitcoin reached a peak of $125,100 in October 2025 but entered a downtrend after a $19 billion market liquidation event.
Snyder remains optimistic about Bitcoin’s long-term potential, citing growing interest in Bitcoin ETFs and government adoption.

21Shares co-founder Ophelia Snyder recently shared her insights on the outlook for Bitcoin as 2026 approaches. She expressed doubts that Bitcoin will replicate the price surge seen earlier in 2025. According to Snyder, the current market volatility is unlikely to resolve quickly, making such a performance challenging. She added that Bitcoin’s future performance will largely depend on broader market sentiment in the coming months.

Snyder highlighted that January often brings renewed inflows into Bitcoin exchange-traded funds (ETFs) as investors make adjustments to their portfolios. Historically, this has fueled upward movement in Bitcoin price, as new investment capital enters the market. However, Snyder remains uncertain about Bitcoin’s potential to repeat its early 2025 price gains due to the present low levels of positive sentiment.

Bitcoin’s Price Action in 2025 and the January Effect
In January 2025, Bitcoin reached a peak of $109,000, just before the inauguration of former U.S. President Donald Trump. Traders had hoped that Trump’s crypto-related policies would boost Bitcoin’s value. Shortly after, Bitcoin hit its highest value of the year, reaching $125,100 on October 5. However, the market shifted after the $19 billion crypto market liquidation event on October 10.

Following this event, Bitcoin entered a downtrend, and many market participants adjusted their short-term expectations. Although Bitcoin price dipped nearly 10% in the last 30 days, Snyder remains cautiously optimistic about its long-term prospects. She attributes the recent correction to broader market conditions rather than crypto-specific issues, pointing out that a risk-off sentiment has affected multiple asset classes.

Factors Driving Long-Term Optimism for Bitcoin
Despite the short-term challenges, Snyder maintains a long-term bullish outlook for Bitcoin. She pointed to the increasing adoption of Bitcoin ETFs on major platforms as a key factor that could propel the cryptocurrency higher. Additionally, Snyder believes that the growing interest in digital assets as a store of value, alongside government adoption, could further fuel Bitcoin’s demand.

On the other hand, some risks could hinder Bitcoin’s growth. These include sustained strength in gold, which could draw traditional investors away from Bitcoin. A continued risk-off sentiment in broader financial markets could also dampen Bitcoin’s appeal. Still, Snyder sees the current price dip as a temporary reaction rather than a permanent trend.

Despite the uncertainty surrounding short-term movements, some industry experts remain more optimistic. BitMine chairman Tom Lee has forecasted that Bitcoin will reach a new high before January 2026. Historically, Bitcoin has shown positive returns in January, with an average gain of 3.81% since 2013. Whether this trend will hold in 2026 remains to be seen, but the year-end outlook is mixed.

TLDR:

XRP price trades at $2.06 with $3.17 billion in daily volume after declining 6.16% over seven days
The $2.04 Fibonacci support level serves as a critical decision point for near-term direction
Bulls target $2.41 resistance break while bears eye potential drop to $1.64 macro support
Trading activity remains elevated as market participants position ahead of key technical test

XRP has dropped to $2.06 after sliding nearly 7% over the past week. 

The digital asset now approaches a critical support zone at $2.04 that could determine its next major move. Trading volume remains robust at over $3.1 billion in 24 hours despite the recent price weakness. 

Market participants are closely monitoring this level as it represents a key technical threshold.

XRP Price Action Shows Weakness After Brief Recovery
The cryptocurrency has given back recent gains after bouncing from lower levels earlier in the correction phase. 

XRP declined 4.89% in the last 24 hours according to data from CoinGecko. The token briefly showed strength following a bounce off a local retracement level but has since turned lower.

XRP’s price on CoinGecko
The $2.04 mark represents a macro Fibonacci retracement level that previously acted as strong support during this correction. 

XRP broke above this zone with conviction but now needs to prove it can hold as buyers step in. A failure to maintain this level would signal continued weakness in the near term.

The digital asset traded as high as $2.41 in recent sessions before sellers regained control. 

Bears have pressured the price back toward major support zones. Volume data suggests active participation from both buyers and sellers at current levels.

Two Potential Paths Emerge For XRP
Technical analysis from trader CasiTrades outlines two distinct scenarios based on how XRP responds at $2.04. 

🚨XRP Is Heading Towards a Critical Retest at $2.04 Support! 🚨

XRP has shown some bullish momentum after bouncing off a .618 local retracement… This opens up a bullish scenario, but there is STILL a potential of reaching the $1.64 macro .618 support! This next test at $2.04… pic.twitter.com/hnUVsniQty

— CasiTrades 🔥 (@CasiTrades) December 5, 2025

The first scenario involves a successful defense of this support level followed by a move above $2.41 resistance. Such a sequence would open the door for a rally toward $2.65 and potentially higher targets between $7 and $10.

The alternative path sees XRP losing the $2.04 support and declining toward $1.64. 

This deeper retracement would complete a full macro correction to the 0.618 Fibonacci level. Many traders view such a move as a final shakeout before a stronger upward trend develops.

Current price action suggests the market is testing resolve at these key levels. Buyers need to defend $2.04 to prevent further downside pressure. A clean break below this zone would likely trigger additional selling as stop losses get hit.

The next few trading sessions will prove critical for XRP’s medium-term trajectory. Market structure remains uncertain as both bulls and bears position for the next major move.

The cryptocurrency market recovery has stalled over the past few hours, with Bitcoin failing to overcome the $93k resistance level.

Ripple (XRP) is trading under pressure at press time and risks dropping below the $2 psychological level if the bearish trend persists. 

XRP Ledger hits record on-chain activity in 2025
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XRP is trading at $2.07 per coin after losing 4% of its value in the last 24 hours.

The bearish performance comes despite XRP Ledger recording its highest on-chain activity in 2025.

The XRP Ledger (XRPL) Velocity indicator reveals that the blockchain recorded a surge in on-chain activity, with the index reaching a yearly high of 0.0324 earlier this week.

Data obtained from CryptoQuant shows that the Velocity metric recorded a sharp increase in economic activity and on-chain transactions on Tuesday, its highest level since the start of the year. 

The increase in velocity suggests that market participants are transacting with XRP instead of keeping the coins in cold wallets.

Furthermore, the network data shows that the blockchain is currently experiencing a significant surge in user engagement, despite the current market conditions. 

The XRP derivatives market is also recording a minor increase in retail demand.

XRP’s Open Interest (OI) averaged $3.85 billion on Thursday, up from $3.75 billion on Wednesday.

Finally, institutional interest in spot XRP ETFs has remained steady since their launch a month ago.

According to SoSoValue, US-listed XRP ETFs recorded approximately $50 million in inflows on Wednesday, bringing cumulative inflows to $874 million and net assets to $906 million.

The steady ETF inflows could boost the market sentiment and see XRP’s price appreciate in the medium term.

However, at the moment, the technical indicators are bearish, suggesting further downward movement.

XRP dips below $2.1 amid mixed signals 
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The XRP/USD 4-hour chart is bearish and inefficient as the coin has failed to cover the FVG on the 4-hour timeframe around $2.7.

At press time, XRP is trading at $2.07, slightly above the Monday low of $1.98. 

The bearish performance comes as XRP has failed to overcome the resistance level that coincided with the 50-day Exponential Moving Average (EMA) at $2.31.

The other major resistance levels at  $2.31, the 100-day EMA at $2.47, and the 200-day EMA at $2.49 present a challenge for XRP in recent weeks. 

The Relative Strength Index (RSI) of 36 shows that XRP is extremely bearish and could enter the oversold region if the trend persists. 

Furthermore, the Moving Average Convergence Divergence (MACD) indicator on the 4-hour timeframe has yet to flash a buy signal, adding confluence to the bearish narrative. 

If the recovery fails, XRP could retest the $1.98 support level over the next few hours.

An extended bearish trend could see XRP drop to the November 21 low of $1.8.

However, if the recovery resumes, XRP could surpass the $2.3 resistance level in the coming days.

A break above this level could confirm a bias switch to bullish, with XRP’s recovery potential toward $3.00 to gain momentum.

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According to utility records and media reports, Malaysian authorities have begun a nationwide crackdown on illegal Bitcoin mining after state power losses linked to miners topped roughly $1.1 billion between 2020 and August 2025.

The push targets nearly 13,800–14,000 sites suspected of tapping power without paying. Actions have included drone sweeps, meter inspections and on-the-ground raids.

Task Force Launches Drone And Ground Sweeps
Based on reports, a multi-agency task force was formed that includes the national utility Tenaga Nasional Berhad (TNB), police and other regulators. Drones fitted with thermal cameras and teams with special meters have been used to spot heat signatures and odd power draws in warehouses, shuttered shops and even residential blocks.

Bitcoin mining hardware were seized in several operations and arrests were reported in at least a few cases where evidence of meter tampering was found.

Illegal Bitcoin Mining: Estimated Losses And Numbers
The scale is large. Reports have disclosed losses of about $1.1 billion, which is roughly RM 4.57 billion, and investigators say the number of illicit premises discovered since 2020 is close to 14,000.

Total crypto market cap currently at $3.13 trillion. Chart: TradingView
Authorities warned that power theft linked to mining has climbed sharply in recent years, with some sources pointing to an increase of about 300% since 2018. Many operators pick low-cost hiding spots and keep moving to avoid detection.

Legal And Policy Questions Loom
While Bitcoin mining itself is not outright banned in Malaysia, stealing power and bypassing meters is illegal under the Electricity Supply Act 1990. Officials are weighing tougher steps. Some lawmakers and energy officials have raised the option of stricter licensing, smarter metering or even temporary bans on certain operations if theft continues.

Based on reports, the effort is meant to protect grid stability and stop long running losses that hit the utility’s bottom line.

Safety Risks And Grid Strain
Beyond the money, authorities say there are safety concerns. Tampered connections and overloaded lines raise the risk of short circuits and fires, and they can damage transformers and other costly equipment.

In some areas, local residents reported flickering lights and unstable supply, which investigators link to abnormal draws found at nearby illegal mining sites. Those technical strains add urgency to enforcement.

What Comes Next
Reports suggest enforcement will rely on a mix of tech—drones, thermal scans, smart meters—and traditional policing. For now, the immediate goal is to shut down rigs, seize equipment and bring legal action against operators who took power without paying. The long term path may include clearer rules for legal miners and tighter monitoring across the grid.

Featured image from Pexels, chart from TradingView

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