Market Signal Briefing

Cabaletta Bio, Inc. (CABA) Citi Annual Global Healthcare Conference 2025 December 3, 2025 1:45 PM EST

Company Participants

Steven Nichtberger - Co-Founder, Chairman, CEO & President
David Chang - Chief Medical Officer
Steven Gavel - Chief Commercial Officer

Conference Call Participants

Samantha Semenkow - Citigroup Inc., Research Division

Presentation

Samantha Semenkow
Citigroup Inc., Research Division

Good afternoon. I am Sam Semenkow, senior biotech analyst here at Citi. And today, it's my pleasure to be hosting Cabaletta Bio for a fireside chat at Citi's Global Healthcare Conference. I'm joined today by President, CEO and Co-Founder, Steven Nichtberger; CMO, David Chang; and Chief Commercial Officer, Steve Gavel.

Steven, David and Steve, thank you so much for being here today.

Steven Nichtberger
Co-Founder, Chairman, CEO & President

Thanks.

Samantha Semenkow
Citigroup Inc., Research Division

So Steven, why don't you kick off the session for us with just a little bit of introduction to Cabaletta. I'm wondering, at a high level, the overall strategy, you have developing and commercializing rese-cel and then we'll dive in much further.

Steven Nichtberger
Co-Founder, Chairman, CEO & President

Excellent. So thanks, first of all, Sam, for having us here. Maybe a good place to start is at the beginning, right? When we brought rese-cel into the company, and prioritized its development, it was on the thought that what we had seen from Professor Schett in the academics was going to be -- really redefine the treatment of autoimmune diseases. We replicated the design of our product to really come as close as possible to the design of the product that was used in those academic studies. And we dosed in a weight adjusted manner to replicate those clinical data.

Fast forward from our IND filing in 2023 to now the end of '25, we have multiple diseases that have now fully

Recommended For You

December 03, 2025 16:15 ET

 | Source:

Fabrinet

BANGKOK, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Fabrinet (NYSE: FN), a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, today announced that its management will present in-person at the Barclays 23rd Annual Global Technology Conference in San Francisco, CA.

The Fabrinet presentation is scheduled for Wednesday, December 10, 2025 at 1:55 p.m. PST (4:55 p.m. EST). A live webcast, as well as a replay, will be accessible at https://investor.fabrinet.com/.

About Fabrinet

Fabrinet is a leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and subsystems, automotive components, medical devices, industrial lasers and sensors. Fabrinet offers a broad range of advanced optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, advanced packaging, integration, final assembly and testing. Fabrinet focuses on production of high complexity products in any mix and any volume. Fabrinet maintains engineering and manufacturing resources and facilities in Thailand, the United States of America, the People’s Republic of China and Israel. For more information visit: https://fabrinet.com/.

SOURCE: Fabrinet

Investor Contact:
Garo Toomajanian
[email protected]

VANCOUVER, BC / ACCESS Newswire / December 3, 2025 / Troubadour Resources Inc. ("TR", "Troubadour" or the "Company") (TSXV:TR)(OTC PINK:TROUF)(WKN:TROUF) is pleased to announce that the Company has commenced Phase 1 of its of the multi-phase drill program at its Senneville Gold-Silver-Copper property ("Senneville" or the "Property").

Comprising 212 mineral claims totalling about 119.5 km2, Senneville property is located within the prolific Val d'Or Mining Camp between Probe Gold's McKenzie Break deposit (1,452,261 ounces Inferred1) to the north and the Probe's Novador Development Project to the south (6,405,000 ounces M&I and 1,550,200 ounces Inferred2).

Note: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Company's properties.

Figure 1 - Local area map of the Senneville Project. * indicates deposits acquired by Probe Gold in 2024.The multi-phase drill program will cover all the potential targets across the property in which the main focus will be on the Property's principal 12-kilometre trend of mineral occurrences (Gustav Cere and Vert Lake) that are spatially associated with the contacts of a prominent komatiite unit that trends through the Property, hereafter referred to as the "Senneville Komatiite"(Fig. 2).

The Company's multi-phase drill program includes 75 drill holes that have been designed based on all the available historic and recently conducted information layers including geological mapping and surveying, airborne geophysics (EM & mag), ground geophysics (IP survey), geochemical surveys, and historic and recent drill programs' results.

The drill program includes 5 promising target areas: Gustav Cere, Val Saint George, Contact, Vert Lake, Golden Island Fault, and Milieu Lake Batholite. (Fig. 2)

The primary focus for the maiden program will be the Gustav Cere target due to historically significant mineralization results and the data obtained from the recently completed IP surveys. At Gustav Cere, high-grade gold is hosted in quartz-carbonate-tourmaline veins that bear many similarities to the gold-bearing veins of the neighboring Novador deposits (Fig. 1). This showing has been defined by historical drilling for approximately 500 metres of strike length immediately around the showing in which intercepted gold intervals have yielded up to 18.75 g/t over 0.85 metres, where much of the host structure remains not tested. Compilation work that includes the most recent drilling at the Gustav Cere showing suggests several parallel horizons of gold mineralization, with much of the strike length remaining open"

Historic drilling in the 1980s (AHS series; GM41852) targeted a horizon of gold-bearing quartz veins along the footwall of the Senneville Komatiite.

Recent drilling, in 2012 (SV-12-03; GM68366) and 2021(XR-21-01A; GM72154), intersected higher Au-grade drill intercepts (up to 18.75 g/t Au over 0.85 metres) along the hanging wall contact of the Senneville Komatiite, where relatively minor drilling has been focused.

A third horizon of gold mineralization is suggested by the presence of visible gold in 1981 drillhole SNF-3 ("a few small pinpricks of visible gold"; GM37553) however assays are not reported for this interval.

Figure 2 - Preliminary design for the multi-phase drill program.Qualified Person

Babak V. Azar, P.Geo., géo (EGBC#62313, OGQ#10876), an independent Qualified Person as defined by the National Instrument 43-101, has reviewed and approved the technical contents of this news release.

About Troubadour Resources Inc.

Troubadour Resources Inc. is a North American mineral acquisition and exploration company focused on the development of quality critical mineral and precious metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Troubadour trades on the TSX Venture Exchange under the symbol TR, the OTC Venture Market under the symbol TROUF, and on the Frankfurt, Berlin and Tradegate Stock Exchanges under the symbol A3DBDE.

Troubadour's flagship project is the Senneville Gold-Silver-Copper Project. Comprised of 212 mineral claims totalling about 119.5 km2, the Senneville Project is located within the prolific Val d'Or Mining Camp between Probe Gold's McKenzie Break deposit (1,452,261 oz Au Inferred1) to the north and the Probe's Novador Development Project to the south (6,405,000 oz Au M&I and 1,550,200 oz Inferred2).

NI 43-101 Technical Evaluation Report and Mineral Resource Estimate for the McKenzie Break Property, Québec. Probe Gold Inc, Oct. 18th, 2024.

NI 43-101 Technical Report and Updated Mineral Resource Estimate for the Novador Project, Quebec. Probe Gold Inc, 18th Oct, 2024

TROUBADOUR RESOURCES INC.

Zachary Kotowych, CEO and Director

For more information, please email Zachary Kotowych at [email protected] or call (437) 855 - 4540

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

Forward-looking statements:

This news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.

The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

SOURCE: Troubadour Resources Inc.

Apple's head of user interface design, Alan Dye, will reportedly join Meta, in a notable shift of executive talent in Silicon Valley.

Apple confirmed Dye's departure and CEO Tim Cook said in a statement that the company prioritizes design and has a strong team. The statement said that veteran designer Stephen Lemay will succeed Dye.

"Steve Lemay has played a key role in the design of every major Apple interface since 1999," Cook said in a statement.

Compared to other Silicon Valley companies, Apple has always emphasized design to customers and investors as one of its strengths. Apple prominently features its design executives to discuss interface changes at the company's launch events.

Most recently, Dye revealed in June a redesign of Apple's software interface for iPhones, Macs, and Apple Watch called Liquid Glass. The company described it as an "elegant" new design with translucent buttons, updated app icons, and fluid animations.

Dye said it was the "next chapter" of the company's software and said it "sets the stage" for the next era of Apple products.

"Our new design blurs the lines between hardware and software to create an experience that's more delightful than ever while still familiar and easy to use," Dye said at the launch.

Reviews were mixed on the Liquid Glass update, which shipped with new iPhones in September.

For years, Apple design was embodied by executive Jony Ive, who left Apple in 2019 and is now working with OpenAI on artificial intelligence hardware alongside Sam Altman.

Dye took over user interface design and became one of the design studio's leads in 2015 when Ive stepped back from a day-to-day role. Dye started at Apple in 2006 and worked on software for the iPhone, iPad, Mac, Apple Watch, Apple TV, and Vision Pro, according to his LinkedIn.

He was also partly responsible for the first iPhone in 2017 that did away with the home screen button at the bottom of the device and replaced it with a software-based swipe-up motion.

Meta has said in recent years that it wants to be a major maker of hardware and CEO Mark Zuckerberg has said Apple is one of the social networking company's biggest competitors.

Meta currently makes several virtual reality headsets under its Oculus brand, and recently scored its first hardware hit with Ray-Ban Meta smart glasses, which are stylish sunglasses equipped with cameras and the ability to run an AI model that can answer questions. Sales of the device tripled over the past year, the Ray-Ban parent company said in July.

Bloomberg first reported the move.

The report said that Dye will be in charge of a new design studio at Meta where he will be in charge of design for hardware, software, and AI integration. Meta didn't immediately respond to a request for comment.

, /PRNewswire/ -- Glancy Prongay & Murray LLP announces that investors with losses have opportunity to lead the securities fraud class action lawsuit against Freeport-McMoran Inc. ("Freeport" or the "Company") (NYSE: FCX).

IF YOU SUFFERED A LOSS ON YOUR FREEPORT INVESTMENTS, CLICK HERE BEFORE JANUARY 12, 2026 (LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT

What Is The Lawsuit About?
The complaint filed alleges that, between February 15, 2022 and September 24, 2025, Defendants failed to disclose to investors that: (1) Freeport did not adequately ensure safety at the Grasberg Block Cave mine in Indonesia; (2) the lack of proper safety precautions constituted a heightened risk that could foreseeably lead to the death of Freeport's workers; (3) this constituted an undisclosed heightened risk of regulatory, litigation, and reputational risk; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Contact Us To Participate or Learn More: 
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email:  [email protected]
Telephone: 310-201-9150 (Toll-Free: 888-773-9224)
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased. 

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Us: 
Glancy Prongay & Murray LLP,  
1925 Century Park East, Suite 2100,
Los Angeles, CA 90067
Charles Linehan
Email:  [email protected]
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.

SOURCE Glancy Prongay & Murray LLP

, /PRNewswire/ -- The Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against StubHub Holdings, Inc. ("StubHub" or the "Company") (NYSE: STUB).

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN STUBHUB HOLDINGS, INC. (STUB), CONTACT THE LAW OFFICES OF HOWARD G. SMITH BEFORE JANUARY 23, 2026 (LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at [email protected], by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.

What Is The Lawsuit About?
The complaint filed alleges that, pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's September 2025 initial public offering, Defendants failed to disclose to investors that: (1) the Company was experiencing changes in the timing of payments to vendors; (2) those changes had a significant adverse impact on free cash flow, including trailing 12 months ("TTM") free cash flow; (3) as a result, the Company's free cash flow reports were materially misleading; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact:
Howard G. Smith, Esq.,
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Call us at: (215) 638-4847
Email us at: [email protected],
Visit our website at: www.howardsmithlaw.com.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Us:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com

SOURCE Law Offices of Howard G. Smith

NEW YORK, Dec. 03, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Firefly Aerospace Inc. (NASDAQ: FLY).

Shareholders who purchased shares of FLY during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/firefly-aerospace-inc-loss-submission-form/?id=179484&from=3 

CLASS PERIOD: This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Firefly common stock pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering conducted on or about August 7, 2025 (the “IPO” or “Offering”); and/or (b) Firefly securities between August 7, 2025 and September 29, 2025, both dates inclusive.

ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Firefly had overstated the demand and growth prospects for its Spacecraft Solutions offerings; (ii) Firefly had overstated the operational readiness and commercial viability of its Alpha rocket program; (iii) the foregoing, once revealed, would likely have a material negative impact on the Company; and (iv) as a result, the offering documents and defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.

DEADLINE: January 12, 2026 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/firefly-aerospace-inc-loss-submission-form/?id=179484&from=3 

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of FLY during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is January 12, 2026. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected] 
Phone: (646) 453-8903

NEW YORK, Dec. 03, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Baxter International, Inc. (NYSE: BAX).

Shareholders who purchased shares of BAX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/baxter-international-inc-loss-submission-form-2/?id=179487&from=3 

CLASS PERIOD: February 23, 2022 to July 30, 2025

ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) Baxter's recently launched product, the Novum LVP, suffered systemic defects that caused widespread malfunctions, including underinfusion, overinfusion, and complete non-delivery of fluids, which exposed patients to risks of serious injury or death; (b) Baxter was notified of multiple device malfunctions, injuries, and deaths from these defects; (c) Baxter’s attempts to address these defects through customer alerts were inadequate remedial measures, when design flaws persisted and continued to cause serious harm to patients; (d) as a result, there was a heightened risk that customers would be instructed to take existing Novum LVPs out of service and that Baxter would completely pause all new sales of these pumps; and (e) based on the foregoing, Baxter’s statements about the safety, efficacy, product rollout, customer feedback and sales prospects of the Novum LVPs were materially false and misleading.

DEADLINE: December 15, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/baxter-international-inc-loss-submission-form-2/?id=179487&from=3 

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of BAX during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is December 15, 2025. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected] 
Phone: (646) 453-8903

NEW YORK, Dec. 03, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of James Hardie Industries plc. (NYSE: JHX).

Shareholders who purchased shares of JHX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/james-hardie-industries-plc-loss-submission-form/?id=179488&from=3 

CLASS PERIOD: May 20, 2025 to August 18, 2025

ALLEGATIONS: According to the filed complaint, defendants made false statements and/or concealed the following adverse facts pertaining to James Hardie’s North America segment: (a) primary consumer demand and growth in James Hardie’s North America segment were deteriorating; (b) overstocking was the primary driver of North America growth during the Class Period, not primary consumer demand; (c) a result, there was excessive inventory at James Hardie’s North America distributors.

DEADLINE: December 23, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/james-hardie-industries-plc-loss-submission-form/?id=179488&from=3 

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of JHX during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is December 23, 2025. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected] 
Phone: (646) 453-8903

Waystar Holding Corp. (WAY) Citi Annual Global Healthcare Conference 2025 December 3, 2025 1:45 PM EST

Company Participants

Steven Oreskovich - Chief Financial Officer

Conference Call Participants

Daniel Grosslight - Citigroup Inc. Exchange Research

Presentation

Daniel Grosslight
Citigroup Inc. Exchange Research

All right. I think we're just about at time here. So thank you. Good afternoon, everyone, and thanks for joining us at the Waystar fireside chat. My name is Daniel Grosslight, I'm the health care technology and distribution analyst here at Citi.

And I'm very pleased to welcome Steve Oreskovich, the CFO of Waystar. Thank you for making the trip down to Miami.

Steven Oreskovich
Chief Financial Officer

Yes. Thank you for the time.

Question-and-Answer Session

Daniel Grosslight
Citigroup Inc. Exchange Research

Maybe if we can get started with just a little bit of level-setting, for people who are newer to the Waystar story. You're still relatively new to the public markets. Can you just start by framing the core problem you're solving for health care providers?

And in particular, the question that I get the most, mostly from people who are newer to the story, is about where you fit within the competitive dynamic, the competitive field, I should say, because it is quite crowded. Can you discuss the importance of being kind of an end-to-end platform and the more modular way you approach that end-to-end platform versus some of the more full-stack outsourcers?

Steven Oreskovich
Chief Financial Officer

Yes, definitely, and appreciate the question. So if you think at its core, our clients, the health care providers for decades now have continued to see various types of pressure on their top line revenue reimbursement-wise. More recently, maybe the One Big Beautiful Bill and some of the auths to that, right? Where Waystar comes in is we're helping them with our software platform and the solutions on

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Mobileye Global Inc. (MBLY) UBS Global Industrials and Transportation Conference December 3, 2025 1:50 PM EST

Company Participants

Daniel Galves - Chief Communications Officer

Conference Call Participants

Joseph Spak - UBS Investment Bank, Research Division

Presentation

Joseph Spak
UBS Investment Bank, Research Division

All right. Thanks for joining us, everyone. Very pleased to continue the day here with Mobileye. We have Dan Galves, the Chief Communications Officer from Mobileye, who I'm sure many of you are familiar with us. Dan, thanks again for joining us at this year's conference.

Daniel Galves
Chief Communications Officer

Thanks, Joe.

Question-and-Answer Session

Joseph Spak
UBS Investment Bank, Research Division

So a lot to talk about here. I think the Mobileye story is almost a sort of continual sort of evolution, right? You have the base ADAS products, which is sort of the core competency of the business. That was evolving more into SuperVision, which started to launch and then sort of for reasons we don't sort of need to go in here today sort of took a little bit of a backseat. And then you sort of have the surround ADAS sort of come in, which becomes maybe a more cost-effective solution, something that your customers think they can sort of implement a little bit more broadly. But then on the other side, right, you have the drive or the robotaxi business, and that seems to be where there's a lot of at least market and media enthusiasm for that business as we start to see some businesses scale. So I guess I just want to sort of to start the sort of conversation and talk to you, like how does the -- where is the company sort of focused right now?

Is it really more on getting these surround wins with customers sort

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Cognex Corporation (CGNX) Goldman Sachs Industrials and Materials Conference 2025 December 3, 2025 12:10 PM EST

Company Participants

Dennis Fehr - Senior VP of Finance & CFO

Conference Call Participants

Joseph Ritchie - Goldman Sachs Group, Inc., Research Division

Presentation

Joseph Ritchie
Goldman Sachs Group, Inc., Research Division

All right. I think we're live. All right. Great. So welcome to the afternoon session. Really excited today to have Cognex' Dennis Fehr here with us today, CFO of Cognex.

Dennis, I don't know if you wanted to open up with any prepared comments or we can get right into it, however you want to do it.

Dennis Fehr
Senior VP of Finance & CFO

Maybe a few words. So thanks of all -- first of all, for everyone being here, your interest in Cognex. Thanks for following us. Excited to be here. I think maybe for those of you who don't know the Cognex story so well, Cognex, we think of ourselves as being the technology leader in machine vision.

It's kind of a subsegment of factory automation, where we are working traditionally with the most sophisticated, most complex use cases and customers and have been driving more towards the direct sales approach over the last couple of years broadening our customer base. And in general, we differentiate through our software and more and more also through customer experience, and that allows us to drive attractive growth and bottom line margins.

Question-and-Answer Session

Joseph Ritchie
Goldman Sachs Group, Inc., Research Division

Yes. So Dennis, it's a good overview. Look, Cognex has like -- has had incredibly good fundamentals over a long period of time, almost 70% type gross margins. In the past, you've had EBITDA margins that have been north of 30%. It's interesting. You've been the CFO now for about 20 months. What's been interesting to me is, you've now introduced a new through-the-cycle

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NEW YORK, Dec. 03, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Perrigo Company plc (NYSE: PRGO).

Shareholders who purchased shares of PRGO during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/perrigo-company-plc-loss-submission-form/?id=179492&from=3 

CLASS PERIOD: February 27, 2023 to November 4, 2025

ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the infant formula business acquired from Nestlé suffered from significant underinvestment in maintenance, operational improvements, and repairs; (2) Perrigo needed to make substantial capital and operational expenditures above the Company’s outwardly stated cost estimates to remediate the infant formula business; (3) there were significant manufacturing deficiencies in the facility for the Company’s infant formula business; (4) as a result of the foregoing, the Company’s financial results, including earnings and cash flow, were overstated; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

DEADLINE: January 16, 2026 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/perrigo-company-plc-loss-submission-form/?id=179492&from=3 

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of PRGO during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is January 16, 2026. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected] 
Phone: (646) 453-8903

NEW YORK, Dec. 03, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Stride, Inc. (NYSE: LRN).

Shareholders who purchased shares of LRN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/stride-inc-loss-submission-form-3/?id=179489&from=3

CLASS PERIOD: October 22, 2024 to October 28, 2025

ALLEGATIONS: According to the filed complaint, defendants made false statements and/or concealed that Stride was (1) inflating enrollment numbers by retaining “ghost students”; (2) cutting staffing costs by assigning teachers’ caseloads far beyond the required statutory limits; (3) ignoring compliance requirements, including background checks and licensure laws for its employees, and ignoring federally mandated special education services to students; (4) suppressing whistleblowers who documented financial directives from Stride’s leadership to delay hiring and deny services to preserve profit margins; and (5) losing existing and potential enrollments.

DEADLINE: January 12, 2026 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/stride-inc-loss-submission-form-3/?id=179489&from=3

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of LRN during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is January 12, 2026. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903

Pantera Capital backs startup’s push to accelerate stablecoin adoption and disrupt traditional payment systems with Solana’s blockchain technology.

Key Takeaways

Fin, founded by ex-Citadel employees, raised $17 million in Series A funding led by Pantera Capital.
The capital will support the launch and expansion of Fin's stablecoin payment platform on Solana.

Fin, a startup founded by former Citadel employees, secured $17 million in Series A funding led by Pantera Capital to launch its stablecoin-powered payments product on Solana. The round will support team expansion and product development for the blockchain-based payment solution.

Co-founders Ian Krotinsky and Aashiq Dheeraj are developing the payments platform to leverage Solana’s high-performance infrastructure for efficient transactions. The blockchain platform enables fast and cost-effective payments, making it attractive for stablecoin-based financial solutions.

Pantera Capital, a crypto-focused asset manager, led the funding round as part of its strategy to back Solana-based projects in the payments sector. The investment supports the expansion of payment platforms within Solana’s decentralized finance ecosystem.

The funding positions Fin to compete in the growing stablecoin payments market, where platforms are increasingly choosing Solana for its speed and accessibility advantages over traditional payment rails.

Disclaimer

Key NotesBCH outperforms top 25 assets with 24% gains as traders shift from overstretched Zcash positions into lagging privacy coins.Grayscale's SEC filing to convert its $214M Bitcoin Cash Trust into a spot ETF serves as primary catalyst for institutional inflows.Technical analysis shows BCH at $595 with RSI at 62.25, targeting $650 resistance while maintaining support above $516 SMA levels.
Bitcoin Cash

BCH
$597.6

24h volatility:
8.1%

Market cap:
$11.93 B

Vol. 24h:
$693.89 M

extended its rally to 24% in the last 24 hours, emerging as the strongest performer among the top 25 assets. The move followed Bitcoin’s intraday push toward $94,000, which improved overall risk appetite but produced selective allocation within the privacy coin sector.

Zcash

ZEC
$374.3

24h volatility:
9.9%

Market cap:
$6.14 B

Vol. 24h:
$1.70 B

, last month’s top gainer, fell 7% even as the broader market rebounded, while BCH, Monero, Dash and Beldex attracted renewed flows. The rotation reflected traders cutting exposure to overstretched ZEC positions and reallocating toward lagging peers.

Bitcoin Cash (BCH) price performance, Dec. 3, 2025 | Source: Coinglass

Coinglass data shows BCH trading green across major timeframes, up 9.94% in 24 hours, 12.87% in seven days and 10.73% on a 30-day basis, signaling a persistent accumulation trend developing over weeks rather than a short-volatility reaction tied to Bitcoin’s December rebound.

Grayscale’s Sept. 10 filing with the SEC to convert its Bitcoin Cash Trust into a spot ETF remains a central catalyst raising expectations of institutional-grade inflows into BCH once approved.

Launched in 2018, the Grayscale Bitcoin Cash Trust trading under the ticker BCHG has already attracted $214 million in total assets under management as of Dec. 2.

Bitcoin Cash has proved popular among corporate investors in the US historically. In June 2023, EDX Markets, an institutional trading platform backed by major financial firms including Charles Schwab, Fidelity Investments, and Citadel Securities went live. At its launch, the platform offered trading for only four cryptocurrencies: Bitcoin

BTC
$92 910

24h volatility:
0.8%

Market cap:
$1.85 T

Vol. 24h:
$82.34 B

, Ethereum

ETH
$3 123

24h volatility:
3.4%

Market cap:
$376.70 B

Vol. 24h:
$27.88 B

, Litecoin

LTC
$85.82

24h volatility:
3.4%

Market cap:
$6.57 B

Vol. 24h:
$633.56 M

, and Bitcoin Cash (BCH).

The addition of BCH to this select list suggested institutional confidence in BCH as a commodity at a time when altcoins like XRP and Cardano faced now-dropped charges from the SEC, labeling multiple cryptocurrencies as securities.

Bitcoin Cash Price Forecast: Will BCH Break Above $650?
Bitcoin Cash trades at $595 after a 9% intraday rally. Technical indicators show BCH now trades well above both the SMA-50 at 516.7 and the SMA-100 at 515.3, providing layered support bases for another leg higher.

The narrow gap between the SMA-50 and SMA-100 suggests sustained closes above $600 could force a golden crossover in the coming sessions.

Bitcoin Cash (BCH) Price Analysis | TradingView

RSI prints at 62.25, entering a constructive expansion zone without signaling exhaustion. The slope is rising in parallel with price, which supports the argument that momentum is being built from organic demand rather than a liquidation-driven spike. As long as RSI holds above 55, BCH is likely to retain its upward trend.

Volume Delta indicator has also flipped positive with the latest 38.26K reading confirming that participation levels match the magnitude of the price move.

With a 60.78% profitability ratio, short-term traders have a significant buffer to withstand minor corrections at weaker resistance levels as BCH price approaches the $650 zone without panic selling.

On the downside, a rejection below the initial support near the SMA-7 at $545 could trigger a deeper retracement toward the SMA-50 at 516.7, invalidating the bullish forecast.

BCH Rally Accelerates: PEPENODE Presale Hits $2M Mark
While Bitcoin Cash extends its impressive rally, PEPENODE, an innovative crypto project, is entering the market spotlight with a brand new approach to digital asset mining.

PEPENODE allows users to build their own virtual meme coin mining rigs and gives them a digital space where mining plays out more like a personal project. Users can shape their own setup, adjust it, and watch it grow at their own pace.

PEPENODE Presale

While blending personal progression with token utility, PEPENODE has raised a whopping $2.25 million in its ongoing presale, with 30 hours until the next price increase. With staking rewards at 576%, early backers stand to gain the most.

Want to buy PEPENODE in the ongoing crypto presale? Learn more about the project alongside the token’s price prediction on Coinspeaker.

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

Market News

Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.

Ibrahim Ajibade on LinkedIn

Earlier this week, Michael Saylor’s bitcoin treasury company Strategy (ticker MSTR) established a $1.44 billion U.S. dollar reserve to support dividend payments on its preferred stock and interest on its outstanding debt. Onchain analytics firm CryptoQuant said the move shows Strategy is preparing for weaker market conditions ahead.

"Strategy appears to acknowledge a non-trivial probability of a deep or extended bitcoin drawdown," CryptoQuant wrote in a Wednesday report. "Establishing a 24-month USD buffer suggests an expectation that bitcoin could trade sideways or lower for an extended period, and that capital markets may be less receptive to future stock issuance."

Strategy's USD reserve, funded through its recent MSTR at-the-market share issuance program, is intended to cover at least 12 months of dividends. The company said it plans to strengthen the reserve over time with the goal of covering 24 months or more.

CryptoQuant said this dual-reserve model — holding both USD and bitcoin — reduces the risk of forced bitcoin sales during downturns. But it also marks a "tactical shift" from Strategy's 2020–November 2025 playbook of issuing equity and convertible debt to buy more bitcoin.

"The shift carries material implications for the bitcoin market," CryptoQuant said. "On one hand, Strategy's reduced marginal bitcoin buying softens a powerful demand channel that amplified previous bull cycles. On the other hand, the U.S. dollar reserve and newly disclosed hedging/ sale capability significantly reduce the probability of distress-driven bitcoin selling, which is ultimately supportive of long-run market stability."

CryptoQuant added that Strategy no longer treats its bitcoin exposure as untouchable across all market conditions. The company's management is now acknowledging that protecting the bitcoin stack requires flexibility — including cash buffers, hedging, and selective monetization in distressed scenarios, CryptoQuant said.

Strategy’s bitcoin purchases have been slowing throughout 2025. CryptoQuant said monthly buying fell from 134,000 BTC in November 2024 to 9,100 BTC in November 2025. The company has purchased 135 BTC so far in December.

Strategy’s shift from aggressive bitcoin accumulation to a more conservative, liquidity-focused treasury approach coincides with bitcoin’s largest drawdown of 2025, CryptoQuant said, noting that nearly every major onchain and technical indicator now signals the market has entered a bearish phase. CryptoQuant's Bull Score Index recently fell to zero — its most bearish level — for the first time since January 2022.

CryptoQuant's head of research, Julio Moreno, told The Block that if the bear market continues, bitcoin could trade between $70,000 and $55,000 next year, with the latter figure in the "most bearish scenario."

Moreno added that Strategy’s creation of a USD reserve suggests the probability of selling "is a bit higher," though he emphasized this would be a last resort and that the company would turn to bitcoin derivatives first.

Mizuho maintains an outperform rating on MSTR
Investment bank Mizuho Securities also published a report on Wednesday, reiterating its outperform rating and $484 price target following Strategy's USD reserve announcement.

Mizuho said it hosted an investor Q&A with Strategy CFO Andrew Kang on Tuesday. Key takeaways included: The USD reserve is a liquidity risk-management tool, not a precursor to selling bitcoin; Strategy expects to grow the reserve further when its multiple-to-net-asset value (mNAV) is above 1, taking advantage of favorable market conditions; and Strategy believes it can sustain operations and dividend payments for more than three years at the current bitcoin price of about $92,700.

"Selling Bitcoin is considered a last resort, only if mNAV remains below 1 over a very extended period," Mizuho said. "The reserve provides a buffer to avoid forced asset sales, allowing the company to navigate prolonged crypto downturns."

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Solana got a midweek boost after SkyBridge founder Anthony Scaramucci took to CNBC to declare the blockchain a top contender in the race to become the industry standard for tokenized assets.

Summary

Anthony Scaramucci says Solana is primed to become a global standard for tokenized assets as blockchain rails replace legacy financial plumbing.
SkyBridge holds Solana as a core position, with Scaramucci comparing today’s landscape to the early days of cloud computing—where multiple big winners emerged.
SOL’s price rebound shows strong support near $120–$125, but bulls still need a breakout above $158 to flip the trend.

In classic Scaramucci fashion, he framed the moment with equal parts swagger and analogy, comparing today’s blockchain competition to the early cloud wars—when everyone wondered which scrappy upstart might become the next AWS. Spoiler: there was more than one winner.

Source: CoinGecko
According to Scaramucci, tokenization will drive the next chapter of digital finance as smart contracts migrate onto faster, cheaper blockchain rails. And Solana (SOL) , he says, stands out because its architecture borrows from proven computing concepts rather than crypto-native experimentation.

That familiarity, he argues, has helped Solana become a go-to platform for builders—and a core position for both SkyBridge and his personal portfolio. Scaramucci likened the firm’s early SOL exposure to its Bitcoin (BTC) strategy circa five years ago, when critics scoffed, and institutions hadn’t yet RSVP’d.

Then they did. He expects a similar “everyone said I was early until suddenly I wasn’t” arc for Solana.

SOL staging a comeback story?
The cryptocurrency is trading above its 100-hour simple moving average after climbing past key Fibonacci retracement levels from its previous decline. The digital asset’s recovery has occurred alongside gains in other major cryptocurrencies.

Solana rising, signaling bullish reversal?
Solana’s technical setup shows bullish momentum building on the hourly MACD and an RSI holding above 50, but the token still faces tight resistance overhead.

Analysts say a breakout could open the door to higher price targets, while failure to clear near-term resistance may send SOL back toward its recently broken trend line and lower support levels.

The broader trend remains bearish until SOL can close above $158 and hold above $176—though Scaramucci argues today’s prices could look cheap if Solana becomes a core platform for tokenization.

It’s worth noting that Scaramucci is promoting a book he wrote about Solana, called “Solana Rising”.

Flooding the gates of Vanguard, popular crypto price-tracking ETFs gain traction on the first day.

Market Sentiment:

Bullish

Bearish

Neutral

Published:
December 3, 2025 │ 6:56 PM GMT

Created by Gabor Kovacs from DailyCoin

Vanguard’s crypto brokerage services had opened the gates for major-caps during an all-around crypto thunderstorm. Now, the markets are enjoying a reversal of Monday’s downturn, putting Ripple (XRP), Solana (SOL) & Bitcoin (BTC) back above key support thresholds.

Vanguard’s ‘Hot Sauce’ Fuels XRP & SOL BounceBloomberg’s top ETF specialist Eric Blachunas called this the “Vanguard effect”. After years of resisting to list any crypto-related exchange-traded funds (ETFs) to their 50 million customers worldwide, Vanguard has shifted towards a more crypto-friendly approach, adding rocket fuel to the exhausted crypto markets.

THE VANGUARD EFFECT: Bitcoin jumps 6% right around US open on first day after bitcoin ETF ban lifted. Coincidence? I think not. Also $1b in IBIT volume in first 30min of trading. I knew those Vanguardians had a little degen in them, even some of the most conservative investors… pic.twitter.com/OKyihvEqqD

— Eric Balchunas (@EricBalchunas) December 2, 2025
Since this crypto ban was lifted, BlackRock’s IBIT ETF scored a colossal $1 billion in the first 30 minutes of trading, Mr. Balchunas notes. “Even some of the most conservative investors like to add a little hot sauce to their portfolio”, – concluded Bloomberg’s ETF analyst, while the crypto ETF markets carried on growing.

Solana’s (SOL) cheerful message noted that Vanguard’s assets under management (AUM) are currently exceeding $11 trillion – a figure nearly 4 times larger than the overall crypto market cap. With Solana (SOL) restoring the $140 threshold, XRP’s price picked up $2.20 as both altcoins saw consecutive days of ETF inflows.

Dig into DailyCoin’s popular crypto news today:
ETH Hits $3,100 as Fusaka Upgrade Looms. BitMine Accumulates
Kalshi Moves to Primetime: Lands $1B Funding and CNN Partnership

People Also Ask:What is the “Vanguard Effect”?

It’s the market surge in major crypto currencies like Bitcoin (BTC), XRP, and Solana (SOL) following Vanguard’s policy reversal on crypto products.

Why did Vanguard change their stance?

After years of banning crypto, Vanguard cited growing demand, regulatory clarity (post-SEC approvals for ETFs), proven stability of these funds.

How has it impacted digital asset prices?

The current crypto rebound rally is tied to these fresh ETF inflows, with even a small allocation from Vanguard’s assets potentially adding billions.

What ETFs are now available via Vanguard?

Analysts see sustained upside from institutional inflows (e.g., XRP ETFs at $845M AUM, SOL at $605M), but warn of volatility if broader markets dip.

What’s the outlook for BTC, XRP, and Solana?

Analysts see sustained upside from institutional inflows (e.g., XRP ETFs at $845M AUM, SOL at $605M), but warn of volatility if broader markets dip.

DailyCoin's Vibe Check: Which way are you leaning towards after reading this article?

Market Sentiment

100% Bullish

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Key NotesFoundation demanded voluntary domain transfer from Zcash Strategy after receiving six community complaints about trademark violations.ECC's CEO previously terminated the 2019 trademark agreement and requested limited enforcement focused solely on scammer protection.ZEC supporters remain divided on whether the action protects the ecosystem or reflects problematic centralized control over the protocol.
The Zcash Foundation initiated a trademark enforcement action against Zcash Strategy, a small digital asset treasury (DAT) company run by a sub-300-follower account on X, related to its website domain (zcashstrategy.com). Controversy arose around this action, dividing the ZEC community and sparking discussions related to the Zcash Foundation trademark policy.

Between December 2 and 3, the Zcash Strategy account on X posted the screenshot of an email, now confirmed, sent from the Zcash Foundation. In the shared piece, we see what seems to be a cease and desist order from the Foundation for a “voluntary [domain] transfer” to prevent further escalation to Uniform Domain-Name Dispute Resolution Policy (UDRP) panelist ruling.

In the confirmation comment that follows the original post where Zcash Strategy says it is “very disappointed” about what happened, the Zcash Foundation explained they received reports from “six different Zcash community members as a violation of the Zcash trademark.”

Nevertheless, the Foundation added that it now considers the post as “an official request to use the Zcash trademarks,” which is now being analyzed.

Screenshot of the now-deleted comment by the Zcash Foundation | Source: X

In August 2024, Josh Swihart, CEO of the Electric Coin Co. (ECC), terminated the Trademark Donation and License Agreement dated November 6, 2019—communicated in a post on the Zcash Community Forum—and made specific requests for the Zcash Foundation on how to properly use the trademark.

“We request that you publicly commit to either: (i) use the trademark solely to protect against its misuse by scammers or clear abusers of the mark and not use it to attempt to govern the direction of the protocol, (ii) or to relinquish the trademark completely,” Swihart stated.

@jswihart withdrew @ElectricCoinCo from the trademark agreement last year and requested that the @ZcashFoundation "publicly commit to either:

– use the trademark solely to protect against its misuse by scammers or clear abusers of the mark and not use it to attempt to govern…

— peacemonger 🛡 (@peacemongerZ) December 3, 2025

Controversy Arises From Zcash Foundation’s Trademark Enforcement Action
Coinspeaker has reached out to the Zcash Foundation via private messages, email, and public comments on X. By the time of this writing, the Zcash Foundation had not responded to our inquiries.

According to its trademark policies, independent projects are allowed to use the “Zcash” word and logos, but it draws lines to protect the brand. For example, the use in “domains and websites” is permitted as long as it has proper disclaimers of being independent projects with no connections to the Foundation or other relevant entities.

Safety First, a Zcash supporter, posted a thread addressing the trademark policy and what they think are the reasons for this action.

Why I think Zcash Foundation is defending Zcash by threatening @zcashstrategy dot com 🧵

Ref: https://t.co/VhuPTdukKQ https://t.co/cosYvDahzh

— Safety First (@SaveZcash) December 3, 2025

While accessing the website nine hours from Zcash Strategy’s original post, Coinspeaker verified that there is a “legal disclaimer” saying it “is an independent organization in the Zcash ecosystem,” adding that “Zcash Strategy is not affiliated with, owned by, or under common control with Zcash Foundation (the Foundation).”

Legal disclaimer on the Zcash Strategy website | Source: zcashstrategy.com

However, it is unclear if the disclaimer was added before or after the email exchange and public posts. Neither the Zcash Foundation nor the Zcash Strategy answered Coinspeaker to clarify it.

Notsofast (200,000 followers) highlighted the issue of “going after a sub 300 follower account for their web domain” at a time when ZEC is underperforming, down “50% from its [local] high.” Other commentators raised centralization and permission concerns around the company-like model and trademark enforcement.

if tru, going after a sub 300 follower account for their web domain seems like the most optically damaging thing the zcash foundation could do as zec price pulls back 50% from its all time high

badwill: send lawyers after a core supporter https://t.co/AxZ8RCdl8D

— notsofast (@notsofast) December 3, 2025

On the other hand, the activity has gathered support from some known Zcash supporters. Tom Howard pointed out the $36,000 committed to the DAT and said, “This looks like a scam” or that the person behind Zcash Strategy is “naive about listing DATs.” “Defensive trademark to sue scams is basically the only thing that does make sense,” he added in a follow-up comment. Other commentators seem to agree this is a legitimate way to “protect the community.”

Defensive trademark to sue scams is basically the only thing that does make sense.

— Tom Howard (@_TomHoward) December 3, 2025

ZEC

ZEC
$366.9

24h volatility:
10.6%

Market cap:
$6.08 B

Vol. 24h:
$1.69 B

is currently trading at $332, down 55% from the $744 local high, according to TradingView data, after an impressive run that accumulated over 1,000% gains in two months, as demand and market interest for “privacy coin” grew in searches and capital allocation.

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

Cryptocurrency News, News

Vini Barbosa has covered the crypto industry professionally since 2020, summing up to over 10,000 hours of research, writing, and editing related content for media outlets and key industry players. Vini is an active commentator and a heavy user of the technology, truly believing in its revolutionary potential. Topics of interest include blockchain, open-source software, decentralized finance, and real-world utility.

Vini Barbosa on X

JackTheRippler, a long-standing and outspoken supporter of XRP, recently claimed that more than a dozen XRP exchange-traded funds are now positioned for launch.

His post on X has stirred fresh interest across the community, especially among investors who have been waiting for a regulated path into the asset.

According to him, the momentum behind these products is building much faster than many expected. As he put it, the industry appears to be “on the edge of a major shift,” with firms racing to roll out their offerings.

His remarks come at a time when the ETF market is expanding rapidly, and traditional finance is showing a clear appetite for digital-asset exposure.

What Easier Access Could Mean for Investors
If these ETFs secure approval, investors would gain the ability to buy and hold XRP through ordinary brokerage accounts. 

Advertisement
 

This would make the asset far more accessible to new entrants and give institutions a framework they already trust. Supporters argue that such access could draw fresh attention to XRP, expand participation, and eventually influence its market performance.

Rippler also pointed to the involvement of heavyweight firms such as WisdomTree and 21Shares. He described their readiness as “a clear signal of where the market is heading.”

Their participation could introduce XRP to a much larger pool of investors who prefer familiar investment vehicles over direct crypto ownership.

Why ETF Preparations Matter
The rush toward XRP ETF products reflects a broader shift in how institutions want to access digital assets. ETFs offer regulated exposure.

They also allow funds to trade XRP through familiar structures instead of using crypto exchanges directly. As researchers have repeatedly said, this structure lowers operational barriers and opens the door to new categories of investors.

The possibility of a large set of XRP ETFs also puts pressure on regulators. Each new listing signals to the market that issuers expect approval to come eventually. While nothing is guaranteed, the preparations highlight how quickly the institutional side of the market is evolving.

Traders following these developments say the number of ETF preparations alone is enough to influence expectations. 

They argue that a coordinated buildup from more than a dozen issuers shows confidence in future demand. For everyday investors, the main question now is timing. The products are ready. The issuers are in position. The only missing piece is the regulatory green light.

Even so, analysts urge caution. They stress that approval is not automatic, and the final decision rests entirely with regulators. 

Still, they agree that the growing list of pre-launch products shows how the landscape is shifting. If approval eventually arrives, these ETFs would give institutions a clear, regulated path to gain exposure to XRP.

The Federal Reserve has officially brought its multi-year quantitative tightening program to a close, freezing its balance sheet at about $6.57 trillion after draining more than $2.3 trillion from the system since 2022. 

The Federal Reserve’s decision to formally end quantitative tightening has created a sense of anticipation across the crypto market. Liquidity inflows have shaped every major crypto cycle, and removing the multi-year drain on liquidity is expected to set the stage for healthier crypto market conditions and see the Bitcoin price push above $100,000 in the coming days.

Policy Shift Meets A Market Still Searching For Direction
The Fed has frozen its balance sheet at roughly $6.57 trillion after three years of balance-sheet reduction. Treasury runoff has stopped on December 1, though mortgage-backed securities will continue declining slowly. 

Ending QT means that the Fed is stepping away from the rapid balance-sheet reduction that tightened financial conditions throughout 2023 and 2024. The move comes after bank reserves fell to levels that threatened short-term funding stability, and the Fed made the move to halt any further liquidity drain.

Crypto investors are expecting the end of QT to relieve some of the selling pressure that has contributed to the crypto industry in recent months. This is due to historical comparisons of how the industry played out in previous ends to QT. 

In 2019, when the Fed last ended QT, digital assets bottomed within weeks and then entered a strong recovery phase. That period represented a decisive low for altcoins and preceded Bitcoin’s rise from roughly $3,800 to $29,000 over the next year and a half.

Interestingly, the entire crypto market’s short-term behavior is starting to show signs of bullishness. Particularly, the entire market is up by 7.2% in the past 24 hours, with Bitcoin leading the charge. However, cryptocurrencies are facing a different macro environment today, and the outlook is whether Bitcoin and other cryptocurrencies can go on another extended bullish rally in the coming months.

Why Is Bitcoin’s Reaction Delayed?
Ending QT is a meaningful turning point, but it does not automatically flood the system with fresh liquidity. Benjamin Cowen, founder of IntoTheCryptoverse, offers one of the clearest explanations for what to expect. 

He noted that in 2019, the Fed announced QT would end on August 1, but the balance sheet continued falling through mid-August because previously scheduled Treasury maturities had not yet settled. It wasn’t until early 2020 that Bitcoin started to experience explosive gains. According to Cowen, the same dynamic applies now. 

Therefore, the Federal Reserve’s balance sheet could continue edging lower for a few more weeks, meaning the first meaningful uptick in liquidity may not show up until early 2026. This delay suggests that traders hoping for an immediate boost or a quick return of Bitcoin above $100,000 are simply ahead of the cycle. The tightening phase has ended, but the actual recovery in liquidity has yet to begin.

BTC trading at $92,875 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pngtree, chart from Tradingview.com

Solana Mobile to Launch SKR Token in January With 10B SupplyDistribution is designed to go to the ecosystem, With 30% to airdrops, 25% to growth initiatives, and 10% for liquidity and launch support. Dec 3, 2025, 8:01 p.m.

Solana Mobile has released new details Wednesday about SKR, the forthcoming native token for its Seeker smartphone ecosystem. The company said SKR will launch in January 2026, forming the economic and governance backbone of its decentralized mobile platform.

STORY CONTINUES BELOW

According to a post on X from Solana Mobile, SKR will have a fixed total supply of 10 billion tokens. Distribution is designed to favor users and ecosystem growth: 30% will go toward airdrops, 25% to growth initiatives and partnerships, and 10% for liquidity and launch support. Another 10% will be allocated to a community treasury, while 15% is earmarked for Solana Mobile itself and 10% for Solana Labs.

SKR will also incorporate a linear inflation model, intended to reward early participants who stake tokens to help secure and scale the mobile ecosystem. Inflation begins at 10% in Year 1, then decays by 25% annually until it reaches a terminal rate of 2%, where it is expected to stabilize. Solana Mobile said this design is meant to bootstrap activity during the platform’s growth phase while maintaining predictable, sustainable issuance over time.

The Seeker phone, launched this past August, is Solana Mobile’s next-generation handset, expanding on the company’s first-edition Saga device with upgraded hardware and a deeper integration of decentralized, onchain features.

Read more: Solana’s Seeker Phone Fixes Saga’s Flaws With Usability Upgrade

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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Evans S.

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As Bitcoin passes through a new turbulence zone, Michael Saylor finds himself at the heart of a decisive showdown with MSCI. Threat of exclusion from indices, pressure from institutional investors, and massive exposure to the king asset: his bet on Bitcoin is more tested than ever.

In Brief

Michael Saylor faces a possible exclusion of Strategy from MSCI indices due to high volatility related to its massive Bitcoin exposure
The price drop, anticipated losses, and tensions with JP Morgan have weakened the stock while reviving criticism of a business model fully tied to an ultra-volatile asset
Despite this, Saylor maintains his bet, continues accumulating Bitcoin, and bets on the idea that the asset remains undervalued, with some estimating it capable of reaching $270,000 in the long term.

A Bitcoin Giant Facing an Institutional Storm
Michael Saylor, an iconic figure of Bitcoin and chairman of Strategy, is today at the heart of a crucial negotiation with MSCI, the giant of global stock indices. At stake: the very future of the company in the MSCI USA and MSCI World indices, of which it is currently part.

The threat of exclusion weighs heavily due to a balance sheet considered too volatile, a direct consequence of its massive Bitcoin exposure. For MSCI, this volatility compromises the expected stability of companies present in its indices, while for Saylor, it is a true existential battle.

The stakes go far beyond Strategy’s borders. An exit from the index could trigger capital outflows estimated at $2.8 billion, according to JP Morgan. And if other index providers follow, the overall impact could rise to $8.8 billion. But Saylor, true to his provocative style, vigorously contests these figures, calling the American bank’s estimates “approximate” and potentially “biased.”

The Double Face of Saylor’s Bitcoin Strategy
Since 2020, Strategy has established itself as the first listed company to convert its war chest into Bitcoin. A bold maneuver, praised initially, but now becoming a double-edged sword.
When Bitcoin rises, MSTR stock acts like a speculative lever, multiplying gains. But when the market turns, the fall is brutal. The recent 10% drop in Bitcoin was enough to trigger a new wave of sales, plunging the stock into a -60% spiral since July.

Criticism is abundant. Some investors see in JP Morgan’s recent actions, notably the tightening of margins on MSTR-backed loans, a coordinated attack against Saylor’s company. Others see it as the materialization of a structural risk: that of a company closely tied to an ultra-volatile asset.

Saylor, however, remains unfazed. “If Bitcoin drops 30% or 40%, our stock will do worse, it’s mathematical,” he admitted with almost stoic lucidity. But behind this apparent fatalism, the billionaire is playing a chess game with institutions, betting on the resilience of the king cryptocurrency.

Between Anticipated Losses and Unshakable Faith
The assessment is brutal: Strategy anticipates up to $5.5 billion in losses in 2025 if Bitcoin stays below $100,000. Facing this scenario, the company sold part of its assets to build a $1.44 billion cash reserve, intended to honor its dividends and debt. A move seen as defensive by analysts, but presented by Saylor as a short-term survival strategy.

Despite the storm, the man does not give up. Far from reducing his exposure, he repurchased 130 additional Bitcoin (BTC), raising Strategy’s war chest to 650,000 BTC, valued at about $59 billion. An almost symbolic gesture, but one that sends a clear message: Saylor remains convinced that Bitcoin has not yet said its last word.

The recent Bitcoin surge, up 6.5% over 24 hours to $92,998, offers a slight respite to Saylor and Strategy, while the pressure from MSCI and institutional markets remains palpable. Yet behind this temporary upswing, a question continues to grow: Is Bitcoin undervalued today, while some estimate that its real value could approach $270,000? If such a perspective were to materialize, it would strengthen Strategy’s bold strategy while highlighting the growing gap between Bitcoin supporters’ vision and the still rigid caution of major financial institutions like MSCI.

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Evans S.

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

DISCLAIMER

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

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