Market Signal Briefing

Wahi Believes that the Engine Capital-Led Board is not Engaging with Interest from Qualified Potential Acquirers at a Significant Premium While Shareholder Value Continues to be Destroyed

New Board Would Pursue a Mandate to Maximize Value for All Shareholders Through a Sale of the Entire Business

Engine Capital-Led Board has Presided Over an Almost 70% Decline in the Share Price and Led the Company to the Brink of a Debt Default

VANCOUVER, British Columbia, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Ronnie Wahi, Co-Founder, former CFO and board member of Dye & Durham Limited (“Dye & Durham” or the “Company”) (DND: TSX) today announced that he intends to nominate individuals in connection with the Company’s 2025 annual meeting of shareholders (the “Annual Meeting”), and seek to substantially reconstitute Dye & Durham’s board of directors (the “Board”).

Since Engine Capital took control of the Board in December 2024, the Company has pursued a reckless strategy which has caused a severe deterioration of revenue while ramping up spending. The result has been sharp declines in Adjusted EBITDA and cash flow, and surging leverage. Mismanagement is so pervasive that in less than a year the Company has cycled through four different CEOs and three CFOs, defaulted on its debt, faced a management cease trade order for failing to produce its FY2025 financial statements, and then went on to file two Annual Information Forms within 24 hours with materially different debt figures — all of which underscore a clear pattern of failed leadership and oversight.

Over the past several months, Mr. Wahi made repeated and ultimately fruitless attempts to constructively engage with the Board on these critical issues. The Company’s plummeting share price, now below its IPO price, is overwhelming evidence that shareholders have lost faith and are rapidly exiting the stock. The only hope for shareholders to preserve and maximize the remaining value of the business – a full sale of the Company, has been relegated to a rudderless special committee process.

Shockingly, Mr. Wahi understands that Dye & Durham continues to receive interest from qualified buyers at a significant premium to the current share price, refuses to meaningfully engage with them, and may instead be seeking value destructive sales of high growth assets.

The current state of affairs is untenable. Left with no other options, Mr. Wahi intends to nominate highly qualified individuals to reconstitute the Board at the Annual Meeting. Once elected, the new directors will pursue a mandate to maximize value for all shareholders through a sale of the entire business. The new directors will also seek to unwind any asset sales the Company undertakes prior to the reconstitution of the Board.

Mr. Wahi believes that many shareholders share his deep sense of frustration with the Board’s failure to act in the best interests of shareholders and his conviction that only a substantially reconstituted Board can protect shareholders from further value destruction.

Additional Information

The information contained in this news release does not and is not meant to constitute a solicitation of a proxy within the meaning of applicable corporate and securities laws. There is currently no record or meeting date and shareholders are not being asked at this time to execute a proxy in favour of any of Mr. Wahi’s nominees or any other matter to be acted upon at the Annual Meeting. In connection with the Annual Meeting, Mr. Wahi may file a dissident information circular (the “Information Circular”) in due course in compliance with applicable corporate and securities laws.

This news release and any solicitation made by Mr. Wahi in advance of the Annual Meeting is, or will be, as applicable, made by Mr. Wahi and not by or on behalf of the management of the Company. All costs incurred for any solicitation will be borne by Mr. Wahi, provided that, subject to applicable law, Wahi may seek reimbursement from the Company of Mr. Wahi’s out-of-pocket expenses, including proxy solicitation expenses and legal fees, incurred in connection with a successful reconstitution of the Board.

Mr. Wahi is not soliciting proxies in connection with the Annual Meeting at this time, and shareholders are not being asked at this time to execute proxies in favour of any of Mr. Wahi’s nominees (in respect of the Annual Meeting) or any matter to be acted upon at the Annual Meeting. Proxies may be solicited by Mr. Wahi pursuant to an Information Circular sent to shareholders after which solicitations may be made by or on behalf of Mr. Wahi, by mail, telephone, fax, email or other electronic means as well as by newspaper or other media advertising, and in person by directors, officers and employees of Mr. Wahi, who will not be specifically remunerated therefor. Mr. Wahi may also solicit proxies in reliance upon the public broadcast exemption to the solicitation requirements under applicable Canadian corporate and securities laws, conveyed by way of public broadcast, including through press releases, speeches or publications, and by any other manner permitted under applicable corporate and securities laws. Mr. Wahi may engage the services of one or more agents and authorize other persons to assist in soliciting proxies on behalf of Mr. Wahi.

Disclaimer for Forward-Looking Information

Certain information in this news release may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking statements and information generally can be identified by the use of forward-looking terminology such as, but not limited to, “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “plans,” “continue,” or similar expressions suggesting future outcomes or events. Forward-looking information in this news release may include, but is not limited to, statements of Mr. Wahi regarding (i) how Mr. Wahi intends to exercise its legal rights as a shareholder of the Company, and (ii) his plans to make changes at the Board of the Company.

Although Mr. Wahi believes that the expectations reflected in any such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that (i) the Company may use tactics to thwart the rights of Mr. Wahi as a shareholder and (ii) the actions being proposed and the changes being demanded by Mr. Wahi, may not take place for any reason whatsoever. Except as required by law, Mr. Wahi does not intend to update these forward-looking statements.

Contact

Ronnie Wahi
[email protected]

Key Takeaways Stifel's total client assets hit $532.7M in August, up 8.9% Y/Y and 1.9% sequentially.Fee-based assets climbed 14% Y/Y to $213.6M, led by strong Private Client Group growth.Bank loans rose 6.5% Y/Y, while client money market balances fell 4% from last year.
Stifel Financial Corp. (SF - Free Report) reported key operating results for August 2025, highlighting record levels of total client and fee-based assets. Total client assets grew 8.9% year over year and 1.9% sequentially to $532.7 million. The uptick was supported by strong financial advisor recruiting and favorable equity market performance.

Fee-based client assets increased 14% from the year-ago period and 2.2% month over month, reaching $213.6 million. Within this, Private Client Group’s fee-based assets totaled $186.7 million, reflecting a 13.9% year-over-year jump and a 2.2% sequential rise.

Bank loans, net (including loans held for sale), were $21.6 million, up 6.5% from the prior-year level. Meanwhile, client money market and insured product balances fell 4% year over year and nearly 1% sequentially, largely due to lower Smart Rate balances.

The company has been witnessing steady growth in client assets and fee-based client assets over the past few years. Total client assets and fee-based client assets have grown at a five-year compound annual growth rate (CAGR) of 8.8% and 10.5%, respectively, as of the end of 2024.

Going forward, with an expanding advisor base and continued gains in fee-based flows, Stifel appears well-positioned to sustain growth through the second half of 2025, assuming markets remain favorable.

Performance of Other Finance FirmsStifel’s peers, such as Charles Schwab Corp. (SCHW - Free Report) and Interactive Brokers (IBKR - Free Report) , have also been experiencing strong client activity and asset growth.

Charles Schwab’s total client assets were $11.23 trillion in August 2025, up 15.3% year over year and 2.4% from July. Core net new assets rose 35.4% year over year to $44.4 billion, though down 5.3% sequentially. Advisory assets totaled $5.66 trillion, representing 14.8% growth from the prior year. Over the past five years (ending 2024), Schwab’s client assets recorded an impressive CAGR of 20.1%, driven by strategic acquisitions and market appreciation.

Interactive Brokers reported 3.49 million Daily Average Revenue Trades (DARTs) in August 2025, rising 29% year over year despite a marginal sequential decline. Total customer accounts increased 32% year over year to 4.05 million, driven by global expansion, innovative product launches and rising investor participation. The CAGR of client DARTs of Interactive Brokers stands at 10.3% over the last five years (2019–2024), with momentum continuing in the first half of 2025.

Alphabet's Google said hackers are sending extortion emails to an unspecified number of executives, claiming to have stolen sensitive data from their Oracle business applications.

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

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

Funding to Support Commercial Launch of Flagship 14 Day Holter-Event GEMS Software Platform
October 01, 2025 11:55 PM EDT | Source: CardioComm Solutions, Inc.
Toronto, Ontario--(Newsfile Corp. - October 1, 2025) - CardioComm Solutions, Inc. (TSXV: EKG) ("CardioComm" or the "Company"), a global medical provider of consumer heart monitoring and medical electrocardiogram ("ECG") software solutions, announces that it has entered into a royalty-based financing arrangement (the "Royalty Agreement") with current debt lenders to the Company (the "Lenders") in order secure new capital required to complete and commercialize the Company's new flagship GEMS FLEX and 14 day Holter and Event long term continuous monitoring ("LTCM") ECG software platform (the "Flagship Product"). The Royalty Agreement will also assist the Company in assuming all existing, interest-bearing loans.

The Flagship Product is expected to become CardioComm's principal offering and major source of revenue, providing healthcare professionals and patients with advanced remote monitoring capabilities, structured user feedback tools, and comprehensive customer support and installation services. This financing transaction will enable the Company to:

Finalize the Flagship Product for a full market-ready release;Conduct structured user feedback reviews to refine usability and performance;Launch and market the Flagship Product to targeted healthcare markets; andProvide post-launch customer support and installation services.The Royalty Arrangement

The Royalty Agreement, dated as of October 1, 2025, is valued at $1,036,958.49 and involves three principals, each of which is a "Lender" under the Royalty Agreement:

Xemxija Holdings Inc. ("Xemxija", a company controlled by Daniel Grima, a director of CardioComm), Etienne Grima ("Etienne", a director and CEO of CardioComm); and ITF Ventures Inc. ("ITF", a company controlled by Daniel Grima and Etienne).The Royalty Agreement will provide $432,000 in new capital, with $350,000 from Xemxija and $82,000 from ITF. Important to the Company will be the conversion of interest-bearing debt from two current loans held by Xemxija and Etienne (see the Company's news release dated September 26, 2025 respecting this existing loan with Etienne) worth $524,958.49 and $80,000 respectively.

The Lenders will receive royalties (the "Royalty") from Company profits following the launch of the Flagship Product, aligning the interests of the Lenders with the success of the Company's product launch, market adoption and revenue growth. The Royalty will be issued based on the Company's quarterly and annual financial disclosures with payment occurring at the end of each third financial quarter beginning September 30, 2026. The aggregate Royalty amount will be calculated as 33% of the annualized gross revenue earned and collected for the preceding 12 month, minus $700,000. Lenders will be paid pro rata, based on their loan amounts. If the Royalty amount calculated for any period is a negative amount, then the Royalty for that period will be deemed to be nil.

The obligation to pay the Royalty will terminate, and the Loans will be deemed to be repaid in full, if the Company makes Royalty payments to the Lenders on or before October 1, 2031 which total, in the aggregate, 200% of the aggregate loan amounts (the "5 Year Repayment"). The Company may at any time after October 1, 2026, and from time to time, at its sole discretion, and without penalty, make extra Royalty payments to the Lenders. If the Company does not fulfill the 5 Year Repayment on or before October 1, 2031, then the Royalty amount will increase to 300% of the aggregate loan amounts. When the Company has paid the Lenders the Royalty amount in full, and the Loans will be deemed repaid.

As consideration for providing the loans to the Company, the Company has agreed to issue to the Lenders an aggregate of 829,566 common shares of the Company (each, a "Bonus Share"; 699,966 Bonus Shares to Xemxija, 65,600 Bonus Shares to ITF, and 64,000 Bonus Shares to Etienne) and an aggregate of 16,591,335 common share purchase warrants of the Company (each, a "Bonus Warrant"; 13,999,335 Bonus Warrants to Xemxija, 1,312,000 Bonus Warrants to ITF, and 1,280,000 Bonus Warrants to Etienne). Each Bonus Warrant will be exercisable to acquire one Company common share at an exercise price of $0.05 until October 1, 2030. When issued, the Bonus Shares, the Bonus Warrants and the shares issuable on exercise of the Bonus Warrants will be subject to a hold period of four months and one day in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

As security for the obligations of the Company under the Financing Agreement, the Company has granted a security interest to the Lenders in all present and after-acquired personal property of the Company. The Company has entered into a general security agreement with each Lender, and the Company and the Lenders have also executed an inter-lender agreement dated as of October 1, 2025.

The financing transaction, including issuance of the Bonus Shares and Bonus Warrants, is subject to the approval of the TSX Venture Exchange. There is no material fact or material change respecting the Company that has not been generally disclosed.

Related Party Transaction and MI 61-101 Compliance

As the Lenders are insiders of the Company, the transaction constitutes a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction is exempt from the formal valuation requirement because the Company's securities are not listed on any of the markets specified in section 5.5(b) of MI 61-101. The transaction is exempt from the minority shareholder approval requirement pursuant to section 5.7(e) of MI 61-101, on the basis that the Company is experiencing financial hardship due to the added costs required to bring its Flagship Product to market. The board of directors, acting in good faith and with the unanimous approval of all independent directors, has determined that: (1) the Company will experience serious financial difficulty in relation to its 2026 product commercialization schedule and efforts; (2) the transaction is designed to improve the Company's financial position and support its Flagship Product market launch; (3) the transaction is not subject to court approval under bankruptcy, insolvency or corporate law; and (4) the terms of the transaction are reasonable in the circumstances.

Statement of Financial Position

CardioComm emphasizes that while it faces financial constraints associated with the development and commercialization of its Flagship Product, it is not subject to insolvency proceedings and remains confident in its ability to achieve revenue generation upon launch. The financing transaction reflects the Lenders' continued confidence in the Company's business strategy and their commitment to ensuring the successful introduction of this transformational software platform to the marketplace.

To learn more about CardioComm's products and for further updates please visit the Company's websites at www.cardiocommsolutions.com and www.theheartcheck.com.

About CardioComm Solutions

CardioComm Solutions' patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team. CardioComm Solutions has earned the ISO 13485 and ISO 27001 certifications, is HIPAA compliant and holds medical device clearances and sales licenses from the USA (FDA) and Canada (Health Canada).

Forward-looking statements

This release may contain certain forward-looking statements and forward-looking information with respect to the financial condition, results of operations and business of CardioComm Solutions and certain of the plans and objectives of CardioComm Solutions with respect to these items. Such statements and information reflect management's current beliefs and are based on information currently available to management. By their nature, forward-looking statements and forward-looking information involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements and forward-looking information.

In evaluating these statements, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not assume any obligation to update the forward-looking statements and forward-looking information contained in this release other than as required by applicable laws, including without limitation, Section 5.8(2) of National Instrument 51-102 (Continuous Disclosure Obligations).

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268852

TOKYO--(BUSINESS WIRE)--TD SYNNEX (NYSE: SNX) today announced that it has acquired the shares of Gateway Computer Corporation (hereinafter “Gateway Computer”), an IT solutions and services provider based in Japan. With over 40 years in operation, Gateway Computer has established strong capabilities and experience in serving non-Japanese customers, offering high value-added products and services from its multi-vendor linecard that encompasses both domestic and international manufacturers.

Gateway Computer’s bilingual workforce of over 80 co-workers is expected to complement TD SYNNEX’s operations in Japan, further strengthening its ability to handle global projects centred on the Japanese market. TD SYNNEX’s global footprint and vendor relationships will enable Gateway Computer to expand its business and market presence and will strengthen its ability to deliver unparalleled specialized support to their partners and customers.

“We are excited to welcome Gateway Computer and its highly skilled team into the TD SYNNEX family and for the new opportunities in our shared journey ahead. This share acquisition enables both companies to leverage our collective strengths to deliver higher value for our domestic, as well as international vendors, partners, and customers in Japan,” shared Shigetaka Kunimochi, President of TD SYNNEX Japan.

As a group company of TD SYNNEX Japan, Gateway Computer will continue to function as a separate organization. Hidekazu Hayashi, President of Gateway Computer Corporate, will continue to lead the business and will report to Shigetaka Kunimochi, President of TD SYNNEX Japan.

About TD SYNNEX Corporation

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We are an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX’s 23,000 co-workers are dedicated to uniting compelling IT products, services and solutions from 2,500+ best-in-class technology vendors. Our edge-to-cloud portfolio is anchored in some of the highest-growth technology segments including cloud, cybersecurity, big data/analytics, AI, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem. For more information, visit www.TDSYNNEX.com, follow our newsroom or follow us on LinkedIn, Facebook and Instagram.

Copyright 2025 TD SYNNEX Corporation. All rights reserved. TD SYNNEX, the TD SYNNEX Logo, and all other TD SYNNEX company, product and services names and slogans are trademarks of TD SYNNEX Corporation. Other names and trademarks are the property of their respective owners.

Safe Harbor Statement

This press release contains "forward-looking statements" as defined in Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. Actual results may differ significantly from those expressed or implied by the forward-looking statements due to known or unknown risks, uncertainties, or other factors. The "forward-looking statements" in this press release are based on information available as of the date of this press release and are not obligated to be updated or revised to reflect future events or circumstances.

By

Kwan Wei Kevin Tan

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BYD said in an exchange filing on Wednesday that it sold 396,270 cars in September, a 5.5% decline from a year earlier.

Aleksander Kalka/NurPhoto via Getty Images

2025-10-02T04:10:00Z

China's top automaker BYD posted its first sales drop in over 18 months.
BYD sold 396,270 cars in September, a 5.5% decline from a year earlier.
BYD said in August that its "short-term profitability" was being weighed down by discounting.

Tesla's biggest rival in China, BYD, saw its sales slip for the first time in over 18 months amid China's bruising EV price wars.

The Chinese automaker said in an exchange filing on Wednesday that it sold 396,270 cars in September, a 5.5% decline from the 419,426 cars it sold a year earlier.

The last time BYD saw a sales drop was in February 2024. That month, BYD sold 122,311 cars, a nearly 37% drop from the 193,655 cars it sold in February 2023.

BYD did not respond to a request for comment from Business Insider.

China's EV market has been caught in the throes of a brutal price war. Some 100 brands, including Elon Musk's EV company Tesla, have been locked in an intense competition for a slice of the world's largest auto market.

In April 2024, Tesla announced that it was slashing the prices of its Model 3, S, X, and Y by 14,000 yuan, or about $1,930 each. Musk said at the time that Tesla's "prices must change frequently to match production with demand."

"Other cars change prices constantly and often by wide margins via dealer markups and manufacturer/dealer incentives," he wrote in an X post on April 21, 2024.

However, price cuts haven't helped Tesla ward off its Chinese rivals. The company's annual sales declined for the first time in over a decade after it delivered 1.79 million vehicles in 2024, a 1% drop from the 1.81 million vehicles it delivered in 2023.

In December, Xpeng founder and CEO He Xiaopeng said in an internal letter that the automotive industry will face an "elimination round" from 2025 to 2027.

Earlier, He said in an interview with Singaporean newspaper The Straits Times published in November that most Chinese automakers won't survive the next decade.

"I personally think that there will only be seven major car companies that will exist in the coming 10 years," He said, though he did not give the names of the seven companies.

BYD said in its earnings report in August that its "short-term profitability" had been pulled down by "industry malpractices" such as "excessive marketing" and discounting. The company's net profits in the second quarter of 2025 had fallen 30% from a year earlier.

BYD's shares are up nearly 27% year to date.

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Blackbird plc (OTCPK:BBRDF) Q2 2025 Earnings Call October 1, 2025 6:00 AM EDT

Company Participants

Ian McDonough - CEO & Executive Chair
Sumit Rai - Chief Product Officer
Stephen White - Chief Operating & Financial Officer and Director
Stephen Streater - Founder, Director of Research & Development and Executive Director

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to the Blackbird plc interim results investor presentation. [Operator Instructions]

Before we begin, we would just like to submit the following poll. And if you could give that your kind attention, I'm sure the company would be most grateful.

And I would now like to hand you over to the team from Blackbird plc. Ian, good morning, sir.

Ian McDonough
CEO & Executive Chair

Good morning. And ladies and gentlemen, thank you very much for joining this morning for Blackbird plc's interim results presentation. Today, we're going to take you through a lot of information. We're going to take you through product strategy, marketing strategy, talking to our early metrics and talk about what happens next. And of course, as always, have an extensive Q&A session.

Before we start, I want to talk about one particular thing, which is where we are in the journey. We are on product market fit stage, and we've talked about this when we came in June and also back earlier in March. In our product market fit stage, we are learning. We are delivering features, still very basic features, actually, and we're learning from that data. We are not in our scale-up phase at the present time. Our product market fit stage is going to run into 2026 and it's at that point, that we will move into our scale-up phase.

What's interesting about the product market fit phase from our perspective and from your perspective is

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About BBRDF Stock

More on BBRDF

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October 02, 2025 01:00 ET

 | Source:

Nokia Oyj

Nokia Corporation
Stock Exchange Release
2 October 2025 at 08:00 EEST

Nokia Board of Directors resolved on issuing shares to the company and on a subsequent directed issuance under Nokia Equity Programs

Espoo, Finland – Nokia’s Board of Directors has resolved to issue 120 000 000 new shares in a directed share issuance without consideration to Nokia Corporation to be later used to fulfil the company’s obligations under its equity plans that vest in 2025, 2026 and in 2027.

Nokia expects that the shares are registered with the Finnish Trade Register on or about 2 October 2025 and entered in the book-entry system maintained by Euroclear Finland Ltd on or about 2 October 2025. The total number of Nokia shares following the registration will equal 5 575 850 345. The new shares are expected to commence trading on Nasdaq Helsinki as of 3 October 2025, and on Euronext Paris as of 6 October 2025, together with other Nokia shares (NOKIA). Euronext Paris will publish a separate notice announcing the admission of the new shares to trading on Euronext Paris.

Additionally, the Board of Directors has resolved on a directed issuance of a maximum number of 120 000 000 Nokia shares (NOKIA) held by Nokia Corporation, as a result of the above-mentioned issuance to itself, to settle its commitments under the Employee Share Purchase Plan 2024–2026 and various Restricted and Performance Share awards granted under the Nokia Long-Term Incentive Plan 2021–2023 and Nokia Long-Term Incentive Plan 2024–2026, in respect of shares to be delivered to plan participants during the years 2025, 2026 and 2027. The shares may also be used to settle Nokia’s obligations to deliver shares during the years 2025, 2026 and 2027 in connection with awards granted under Infinera Corporation’s 2016 Equity Incentive Plan, assumed by Nokia Corporation. The shares are issued without consideration. Each share delivery shall be published separately by a stock exchange release.

Both resolutions to issue shares are based on the authorization granted to the Board of Directors by the Annual General Meeting on 29 April 2025.

About Nokia
At Nokia, we create technology that helps the world act together.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

Inquiries:

Nokia Communications
Phone: +358 10 448 4900
Email: [email protected]
Maria Vaismaa, Global Head of External Communications

Nokia
Investor Relations
Phone: +358 931 580 507
Email: [email protected]

Forward-looking statements
Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia's current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, tariffs, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, value creation, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including "anticipate", “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “could“, "see", “plan”, “ensure” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in our 2024 annual report on Form 20-F published on 13 March 2025 under Operating and financial review and prospects-Risk factors.

Sui's synthetic dollar aims to expand stablecoin utility through DeFi partnerships and on-chain income generation.

Key Takeaways

Sui has introduced suiUSDe, a synthetic dollar stablecoin, on its blockchain.
suiUSDe will be backed by digital assets paired with short futures positions, instead of traditional fiat reserves.

Sui, a layer 1 blockchain focused on high-performance DeFi applications, announced the upcoming launch of suiUSDe, a native synthetic dollar token backed by digital assets, in partnership with Ethena, the issuer of USDe.

The upcoming suiUSDe will function as a Sui-native income-generating asset powered by Ethena’s infrastructure. Its backing mechanism combines digital assets with corresponding short futures positions to generate yield without relying on traditional fiat reserves.

Revenue generated from suiUSDe will be directed toward purchasing additional SUI tokens, reinforcing the ecosystem through coordinated buybacks by the Sui Foundation and SUI Group.

Disclaimer

Ethereum price started a steady increase above $4,320. ETH is now consolidating and might aim for more gains if it clears the $4,400 resistance.

Ethereum remained stable above $4,250 and started a recovery wave.
The price is trading above $4,320 and the 100-hourly Simple Moving Average.
There was a break above a key contracting triangle with resistance at $4,180 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move up if it settles above $4,400 and $4,420.

Ethereum Price Gains Over 5%
Ethereum price remained supported above the $4,120 level and started a fresh increase, like Bitcoin. ETH price was able to climb above the $4,250 and $4,320 resistance levels.

Besides, there was a break above a key contracting triangle with resistance at $4,180 on the hourly chart of ETH/USD. The price even spiked toward $4,400 and might continue to rise. A high is formed at $4,400 and the price is still stable above the 23.6% Fib retracement level of the recent upward move from the $4,093 swing low to the $4,400 high.

Ethereum price is now trading above $4,350 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,400 level. The next key resistance is near the $4,420 level.

Source: ETHUSD on TradingView.com
The first major resistance is near the $4,500 level. A clear move above the $4,500 resistance might send the price toward the $4,550 resistance. An upside break above the $4,650 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,720 resistance zone or even $4,800 in the near term.

Another Decline In ETH?
If Ethereum fails to clear the $4,400 resistance, it could start a fresh decline. Initial support on the downside is near the $4,320 level. The first major support sits near the $4,250 zone.

A clear move below the $4,250 support might push the price toward the $4,200 support. Any more losses might send the price toward the $4,120 region in the near term. The next key support sits at $4,050.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $4,320

Major Resistance Level – $4,400

XRP is trading just under $3 after recovering from its recent pullback. On the weekly chart, the token still carries a bearish divergence that first appeared in July near $3.40. That pattern has weighed on the price for several months. Even so, the market has now stabilized, with strong support holding between $2.70 and $2.80.

Support and Resistance Levels

The $2.70–$2.80 area has proven critical. Each time XRP has tested this zone, buyers have stepped in, preventing deeper losses. The token is now challenging resistance near $2.93 to $2.94. If momentum continues, the next target is the $3 mark, followed by a stronger resistance band at $3.10 to $3.15. Beyond that, the $3.30 to $3.35 region shows the next key ceiling where sellers have historically defended.

Role of Bitcoin and Market Conditions

XRP’s path will depend heavily on Bitcoin’s trend. If Bitcoin holds above $118,000 and confirms strength, analysts see higher odds of XRP advancing toward these upper resistance zones. However, if Bitcoin dominance rises at the same time, altcoins such as XRP may lag behind the market leader. A breakout in Bitcoin often sparks wider momentum, but capital rotation patterns determine whether XRP can outperform.

Outlook

For now, XRP’s bullish case rests on keeping support intact and clearing the $3 resistance. A confirmed move through $3.15 would open the door to a run toward $3.30 and higher.As long as Bitcoin continues to build strength, XRP is likely to maintain its recovery and may test fresh highs into Q4.

At the time of writing, XRP is trading at $2.97 and is up by more than 5.5% in the last 24 hours.

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Crypto markets have surged over the past day, culminating in a seven-week high for Bitcoin as the historically bullish month of October begins. 

Bitcoin (BTC) prices have skyrocketed 4% over the past 24 hours, with the world’s leading digital asset hitting $119,450 on Coinbase in early trading on Thursday, according to TradingView.

This is the highest price Bitcoin has reached since Aug. 14, seven weeks ago, when it started correcting from its all-time high.

Bitcoin has now cleared resistance at $117,500, but faces a little more at the $120,000 level. A break above this level would clear the way for new peak prices, but it has cooled slightly, retreating to $118,947 at the time of writing.

The big move has pulled total market capitalization up 3.5% to $4.16 trillion and renewed sentiment and optimism for a bullish month of ‘Uptober.’ The move has also pushed Bitcoin’s market cap of $2.37 trillion above that of Amazon, according to CompaniesMarketCap. 

October is Bitcoin’s most bullish month of the year, historically, with gains in ten of the past twelve Octobers, according to CoinGlass. 

BTC taps a seven-week high on Coinbase. Source: TradingviewLabor market weakness leads to rate cutsUS job openings increased marginally in August while hiring declined, according to data released this week by the Bureau of Labor Statistics. 

This has perpetuated labor market woes, which could prompt the Federal Reserve to cut interest rates again later this month, a development that is bullish for high-risk asset classes, such as crypto.

“I think front and center, its to do with the weak ADP employment report, which followed a softer consumer confidence print earlier this week, where the labour market differentials declined,” IG market analyst Tony Sycamore told Cointelegraph. 

He added that this suggests the unemployment will likely rise from 4.3% to 4.4% in September, “guaranteeing more Fed rate cuts.”

“As traditional economic indicators weaken, Bitcoin’s rally past $118,000 demonstrates its increasing sensitivity to monetary policy outlooks and its appeal as a hedge against economic uncertainty,” said Nick Ruck, director at LVRG Research.

CME futures prediction markets now show a 99% probability of a 0.25% rate cut at the Fed’s next meeting on Oct. 29, up from a 96.2% probability on Monday.

Altcoins are also on fireBitcoin is leading the market higher, but Ether (ETH) has also made more than 5% on the day, pushing prices up to $4,390, its highest level since Sept. 22.

Other altcoins seeing even higher gains at the moment include Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), and Hyperliquid (HYPE), all gaining more than 6% on the day.

October 1st hits.

Bitcoin rips.

Tick, tock.

Next block.

— Anthony Pompliano 🌪 (@APompliano) October 2, 2025
Magazine: Quitting Trump’s top crypto job wasn’t easy: Bo Hines

XRP (CRYPTO: XRP) gained momentum on Wednesday amid a broader cryptocurrency market rally.

XRP Wipes Away LossesThe third-largest cryptocurrency by market capitalization popped over 5% in the last 24 hours, while its trading volume jumped 36.65% to $6.63 billion.

The latest spike erased recent downsides, sending XRP 2.53% higher over the course of a week.

Meanwhile, XRP's open interest spiked 6.73% to $7.93 billion in the last 24 hours, according to Coinglass. More than three in four Binance traders with open XRP positions were long as of this writing.

See Also: Ripple (XRP) Price Prediction: 2025, 2026, 2030

Bullish Impact From Whales?Large investors amped up their accumulation game. Widely followed cryptocurrency analyst Ali Martinez highlighted that whales bought 250 million XRPs, worth $742.50 million, over the last 48 hours.

Price Action: At the time of writing, XRP was exchanging hands at $2.97, up 5.50% in the last 24 hours, according to data from Benzinga Pro.

Read Next: 

Bitcoin Explodes To $117,000 As ETH, XRP Rally On First Day Of ‘Uptober’
Photo: Stanslavs on Shutterstock.com

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TLDR:

Ethena Labs will launch suiUSDe and USDi on Sui Network in Q4, offering native digital dollars to power DeFi and payments.
suiUSDe will be backed by USDe with delta-hedged SUI, while USDi will be fully collateralized by USDtb linked to BlackRock BUIDL.
Ethena’s Whitelabel service enables fast deployment of dollar assets on top-performing chains, wallets, and applications with user reach.
The Sui partnership extends Ethena’s distribution channels after deals with MegaETH and other top-tier networks in its stablecoin program.

Dollar-backed assets are about to expand on Sui. Ethena Labs has confirmed new digital dollar products will debut on the blockchain in Q4. The stablecoin issuer announced it will release suiUSDe and USDi through its Stablecoin-as-a-Service stack. 

Both assets are designed to give Sui a stronger base for DeFi activity and payments. The move follows a series of collaborations aimed at embedding Ethena deeper into leading blockchain ecosystems.

Ethena Labs to Launch suiUSDe and USDi on Sui Network
Ethena Labs said suiUSDe will be a native version of its USDe product on Sui. It will be backed by USDe itself, while delta-hedged SUI may be added to the collateral pool subject to governance decisions. The second product, USDi, will be fully backed by USDtb. 

According to the announcement, USDtb is already linked to BlackRock’s tokenized fund, BUIDL, giving the new coin institutional-grade support.

The company emphasized that both stablecoins are designed to return value directly to the Sui ecosystem. By offering native digital dollars, Ethena aims to accelerate liquidity, payments, and application growth on the network. 

The team said the strategy mirrors its broader effort to distribute USDe and USDtb across multiple ecosystems. 

Introducing suiUSDe and USDi: two native dollar assets for the $30b+ @SuiNetwork built on our Stablecoin-as-a-Service stack.

These products will power DeFi and payments on Sui, while embedding Ethena directly within one of the fastest growing networks on earth.

Both suiUSDe &… pic.twitter.com/I4ptM6lcRw

— Ethena Labs (@ethena_labs) October 1, 2025

Sui Stablecoin Expansion and Crypto Market Integration
Ethena Labs described the launches as part of its Whitelabel stablecoin program. The initiative allows networks, wallets, and consumer-facing applications to roll out their own digital dollars without building the infrastructure from scratch. 

The company claimed it is the only issuer running a Stablecoin-as-a-Service product line at a $15 billion scale. That scale gives its partners immediate access to liquidity and distribution across both DeFi and CeFi markets.

Sui becomes the latest chain to join Ethena’s network. MegaETH has already partnered with the company, and other integrations are expected soon. 

By using Ethena’s system, chains can design dollar assets tailored to their user base while relying on Ethena’s existing backing and risk management. The company stated that this reduces friction and allows rapid expansion of stablecoin liquidity.

For Sui, the move brings two assets at once. suiUSDe creates a version of USDe embedded directly into Sui’s environment. USDi links Sui users to collateral backed by BlackRock’s tokenized fund through USDtb. 

Together, they form a dual approach: one tied to Ethena’s existing stablecoin and the other directly connected to tokenized treasuries.

The partnership reflects a broader trend of stablecoin issuers pushing for deeper ties with fast-growing networks. By integrating with Sui, Ethena not only broadens its distribution but also positions its assets in an ecosystem that has grown rapidly in value. 

The company expects both suiUSDe and USDi to become critical pieces of liquidity for Sui’s DeFi markets once they launch later this year.

Timothy Morano
Oct 02, 2025 03:29

SK Planet plans to purchase MOCA Coin to integrate Moca Network's decentralized identity infrastructure, enhancing data privacy and verification for its users and partners.

SK Planet, a major South Korean tech company, has announced its intention to purchase MOCA Coin (MOCA) on the open market. This move is part of its strategy to adopt Moca Network’s decentralized identity infrastructure, according to Animoca Brands, the creator of Moca Network. This acquisition aligns with SK Planet's goal to enhance its digital identity capabilities using Moca Network’s enterprise-grade solutions.

Integration with Moca Network
Moca Network is renowned for building a chain-agnostic decentralized digital identity network, which enables credential issuance and verification. By purchasing MOCA Coin, SK Planet aims to integrate Moca Network's AIR Account and AIR Identity systems across its ecosystem. This will introduce zero-knowledge proof technology and decentralized identity verification to SK Planet's 28 million users, ensuring higher standards for user data ownership and interoperability.

Benefits for Users and Partners
The integration will allow SK Planet’s 95,000 merchant partners to verify user data with explicit user permission, keeping data ownership under user control. Additionally, data generated on SK Planet’s platform will be verifiable by other AIR Kit partners, promoting privacy-preserved data interoperability.

Kyosu Kim, SK Planet's chief business officer, highlighted the strategic importance of this partnership, stating that it will expand the benefits of SK Planet's OKI Club and reward users with MOCA Coin, while enhancing data control. Kenneth Shek, the project lead at Moca Network, emphasized the significance of SK Planet's move as a milestone in promoting decentralized identity at an enterprise scale.

Future Developments
Following the successful launch of OKI Club integrated with AIR Wallet in February 2025, SK Planet plans to further incorporate Moca Network’s AIR Identity into its services. This integration will allow users to verify their identity and earn rewards from multiple platforms, utilizing wallet features such as token swaps and staking.

For more information, visit the official Animoca Brands website.

Image source: Shutterstock

sk planet
moca coin
decentralized identity
moca network

Analysts highlighted several key developments bitcoin traders should monitor as the new month begins.

getty

Bitcoin adoption and ongoing regulatory developments in the crypto space will play key roles in how markets for the world’s largest digital currency fare as October unfolds, according to multiple analysts.

The cryptocurrency has been fluctuating between $110,000 and $120,000 since late September, according to Coinbase data from TradingView.

Regulatory reform affecting the crypto space has been a big concern of the current regime, where republicans control The White House, the Senate and the House of Representatives. Working together, U.S. lawmakers managed to enact the Guiding and Establishing National Innovation for U.S. Stablecoins Act, also known as the GENIUS Act, which provides comprehensive stablecoin regulation.

The U.S. Securities and Exchange Commission (SEC) has taken multiple steps to make the regulatory environment less restrictive, including providing generic requirements for exchange-traded products (ETPs) that will make it easier for financial institutions to list such securities.

Some analysts have predicted that this development will result in a deluge of applications for crypto-based exchange-traded funds (ETFs).

In July, SEC released a statement related to tokenized securities inviting those interested in holding sales of such financial instruments to meet with the government regulator and its staff. Many interpreted this as a signal that the government agency wants to work with crypto industry participants.

While this may all sound promising, these developments may have encountered a snag in the form of the recently imposed U.S. government shutdown.

On Tuesday, September 30, Russell Vought, director of the Office of Management and Budget, sent a memorandum stating that federal government “employees should report to work for their next regularly scheduled tour of duty to undertake orderly shutdown activities.”

The YouTuber who goes by Wendy O emphasized the impact this situation could have on the crypto industry, stating via email that “Usually, I wouldn’t be too concerned with the shutdown, but we are waiting for various regulatory updates from the Senate, SEC, CFTC, and other entities."

“I wouldn’t equate market volatility with Bitcoin and crypto, as they are decentralized and operate globally 24/7/365,” she continued.

“Still, regulation is essential during this time as Q4 2025 is expected to be big in crypto due to the pending regulatory outcomes of Crypto Spot ETF approval, Clarity Act, Banks pushing back on stablecoin yield and the SEC discussing tokenized stocks and financial instruments,” the analyst noted.

Other market observers chose to focus on other developments such as user adoption.

Mike Maloney, CEO and Founder of Incyt, commented on such subjects, focusing on the influx of capital that crypto ETFs, as well as companies placing digital assets on their balance sheets, will create.

“With ETFs and DATs expanding to lesser known crypto assets, a lot of new capital will accumulate behind these,” he stated via email.

“With Bitcoin as a proven reserve asset, I expect to see its price remain strong - poised to pop - when investors move from risk to relief,” Maloney indicated.

Tim Enneking, managing partner of Psalion, also weighed in.

“With ETF listing rules easing markedly in the US (resulting in ever more attention to the space), more and more countries, companies and other players moving into BTC, once the upward movement starts, it seems quite clear that a new ATH is in the cards before the end of 2025,” he specified through emailed comments.

Brett Sifling, wealth manager for Gerber Kawasaki Wealth & Investment Management, also offered his perspective on such developments. He stated that going forward, a handful of “catalysts” will drive bitcoin’s price movements.

“First would be to keep an eye on ETF momentum and approvals," he stated. “We’re already seeing new SEC rules making it easier for new crypto funds/ETFs, and that flood of potential new filings is going to test whether institutional flows can sustain a continued bull run.”

“Second would be the macro and liquidity backdrop,” Sifling continued. “A pivot into more hawkish Fed policy or a liquidity squeeze in markets could drag Bitcoin down, even if fundamentals look strong.”

He also spoke to the government shutdown, stating that “I could see this being a positive for Bitcoin if the government can’t come up with a resolution to reopen soon after. After all, Bitcoin was originally created in the depths of the financial crisis and was meant to thrive during political instability."

“Lastly, I would say to continue to watch real adoption with companies and sovereign wealth funds,” he continued. “That means banks offering direct crypto services, major firms or countries putting Bitcoin on the balance sheet, and further integration of crypto into payment rails of our economy or treasury operations.”

A memecoin based on the iconic “Courage the Cowardly Dog” cartoon figure soared Wednesday after being promoted by the Shiba Inu (CRYPTO: SHIB) ecosystem.

‘Courageous’ RallyCourage The Dog (CCDOG) skyrocketed 86% in the last 24 hours, dwarfing returns from several large-cap cryptocurrencies. The Ethereum (CRYPTO: ETH)-based memecoin experienced a 10% increase in trading volume in the 24-hour period.

The latest spike pushed the token to a three-week high of $0.002133

See Also: Ethereum Co-Founder Vitalik Buterin Dumps Memecoin Holdings He Received For Free, Crypto Community Left Wondering Why

SHIB ‘Joins Forces’ With CourageThe sudden burst came after Shiba Inu's official X account shared a cartoon-style depiction featuring the Shiba Inu dog alongside Courage the Cowardly Dog.

"When SHIB joins forces with CCDOG… The run isn't bullish. It's feral," the post read. "Watch the energy when these two hit full speed!"

The post piqued the interest of the community, with many wondering whether it's a Shiba Inu ecosystem token.

However, Shiba Inu cleared the air, stating, "This post is from a partner project, not an official SHIB token. Always DYOR, frens."

Price Action: At the time of writing, CCDOG was exchanging hands at $0.001924, up 86% in the last 24 hours, according to CoinMarketCap. SHIB traded up 5.27% at $0.00001251 at last check.

Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends and speculative trading.

Photo Courtesy: vlastas on Shutterstock.com

Read Next: 

Bitcoin, Ethereum, Dogecoin, XRP Shrug Off Shutdown Concerns: Analytics Firm Projects BTC’s Q4 Surge to $160,000–$200,000
Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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

The Trump family’s decentralized finance (DeFi) platform, World Liberty Financial (WLFI), is poised to introduce two new products aimed at investors, capitalizing on the fast-growing sector of tokenization and a new debit card solution. 

World Liberty Financial To Launch Debit Card Pilot Program 
During a presentation at the Token 2049 conference in Singapore, World Liberty Financial’s CEO, Zach Witkoff, shared these developments alongside co-founder Donald Trump Jr., highlighting the company’s commitment to bridging cryptocurrency with everyday transactions.

Witkoff revealed that the forthcoming debit card, designed to facilitate crypto asset spending in daily life, is set to enter a pilot program in the next quarter, with a launch anticipated either in the fourth quarter of this year or the first quarter of 2026. 

This announcement follows previous hints from Zak Folkman, World Liberty Financial’s co-founder, about a debit card and retail application during Korea Blockchain Week 2025, although the details of the consumer app remain under wraps for now.

In addition to the debit card, Witkoff emphasized the company’s focus on the tokenization of real-world assets (RWAs). “We’ve not only thought about it, we’re actively working on it,” he stated, noting that assets such as oil, gas, cotton, and timber could benefit from being traded on-chain. 

As part of its roadmap, the firm also introduced a stablecoin called USD1. Since its launch, USD1 has rapidly ascended to become the fifth-largest stablecoin globally, boasting a market capitalization of approximately $2.7 billion.

USD1’s Role Amid Political Scrutiny
In response to President Donald Trump being scrutinized by Democratic lawmakers in the US, Donald Trump Jr. emphasized the venture and USD1’s role in supporting US treasuries and maintaining the dollar’s global dominance. He stated:

We’re flying to every single corner of this globe, convincing people to onboard to USD1, which, in effect, convinces those people to go buy US Treasuries, and it’s great for the US dollar.

WLFI also announced plans to expand the USD1 stablecoin onto the Aptos (APT) blockchain. Despite facing challenges, including subdued demand on centralized exchanges (CEXs), the stablecoin has gained traction on decentralized platforms, although concerns remain regarding liquidity concentration among a few major wallets.

In August of this year, World Liberty Financial revealed a partnership with the technology firm ALT5 Sigma. As part of a treasury strategy, ALT5 Sigma will acquire substantial amounts of WLFI tokens, following Strategy’s (formerly MicroStrategy) acquisition of Bitcoin. 

The 1-hour chart shows WLFI’s struggle to surpass the $0.20 resistance wall. Source: WLFIUSDT on TradingView.com
On Wednesday, WLFI posted gains of 2%, reaching the $0.200 mark, which has proven to be a major obstacle for the token’s price, as it has been unable to surpass this level for several days. 

Featured image from DALL-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

A broad altcoin rally is unlikely, as crypto projects haven't generated enough excitement to stir traders into action, Bitget operating chief Vugar Usi Zade tells Cointelegraph.

Institutional investment and bullish sentiment drive Bitcoin’s surge as analysts predict continued momentum in coming months.

Key Takeaways

Bitcoin reached $119,000 today, extending its recent rally.
Analysts note that a green (positive) September close often leads to a strong October rally for Bitcoin.

Bitcoin reached the $119,000 milestone today, marking a major price milestone for the flagship cryptocurrency.

The digital asset is showing patterns similar to previous cycles, with analysts noting that a green September close historically signals a strong October rally. Bitcoin has been in a sustained bull run with forecasters predicting significant upward momentum through October and beyond, based on historical post-halving cycles and recent market breakouts.

Institutions and sovereign wealth funds are increasingly rotating capital into Bitcoin, marking a shift toward mainstream financial integration. Prediction markets have aligned on optimistic outlooks for Bitcoin’s performance by year-end, reflecting broader bullish sentiment amid global economic rotations.

Disclaimer

XRP rallies as U.S. government shutdown lifts demand for risk assets, but ETF launch delays loom with SEC approvals on hold.

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

In a wide-ranging September interview with Bitcoin Magazine, MicroStrategy executive chairman Michael Saylor condensed five years of corporate experimentation into a stark, almost mechanical blueprint for what he calls Bitcoin’s “endgame”: accumulate an unprecedented stockpile of the asset as digital capital, then manufacture a new tier of credit markets on top of it.

“The endgame is we accumulate a trillion dollars worth of BTC and then we grow that capital by issuing more credit,” Saylor said. He cast the maneuver not as a speculative side bet but as the next logical phase of corporate finance, with Bitcoin reconstituted as “digital energy” and balance sheets reimagined as engines that spin yield from over-collateralized, Bitcoin-backed instruments.

Saylor’s framing is deliberately elemental. He stitched BTC into a centuries-long lineage of civilization-scale energy breakthroughs—from fire and steel to petroleum and electricity—arguing that the asset’s monetary properties are best understood as a way to move economic “energy” across time and space at light speed.

“Bitcoin is hope because Bitcoin represents digital energy,” he said. “A way to convey energy through time, through space… the next paradigm shift.” To Saylor, the institutional misunderstanding of that shift is not a bug but the core of the opportunity. “I would say 95% of the decision makers in the finance world still don’t really embrace or understand the idea of digital energy,” he argued, adding that society’s digestion lag is typical of paradigm shifts: “Bitcoin is evolving faster than society can digest it.”

At the heart of the playbook is a simple balance-sheet identity, scaled. Treat Bitcoin as the monetary base—“digital gold”—then securitize it as “digital credit” in forms familiar to capital markets: converts, preferreds, money-market-like paper, longer-duration bonds. “If I create a company that buys Bitcoin and I accumulate a billion dollars of Bitcoin, I have a billion dollars of digital capital. What can I do with it? I can issue digital credit,” he said.

In Saylor’s model, the equity of a firm that repeatedly performs this cycle becomes “digital equity,” engineered to outperform the underlying asset through conservative leverage and tenor management: “If I want to create a company that’s going to perform 2x Bitcoin, I take the Bitcoin, I issue Bitcoin-backed credit… I create digital equity and the digital equity outperforms the underlying capital asset.”

He insists the competitive set is not other Bitcoin treasuries but the vast inventory of 20th-century credit—mortgage, corporate, and sovereign—priced off low or repressed yields and often secured by depreciating or illiquid collateral. “What they’re competing against is the existing credit instruments in the capital market,” Saylor said.

The pitch to savers is equally blunt: the “better bank” is one that strips out duration and pays a spread over the fiat status quo, funded by over-collateralized Bitcoin. He sketched it in operational terms: raise equity, buy Bitcoin, then sell short-duration, BTC-secured credit “that just strips the duration to one month… and give people 500 basis points more yield than the risk-free rate in the capital market where you’re selling the credit.”

The scale he envisions is not modest. Saylor walked through jurisdictions where financial repression or chronically low policy rates amplify the spread, arguing that mature markets with suppressed yields are the ripest soil for “pure-play digital credit issuers.” Switzerland and Japan were his canonical examples.

The aspiration, however, is global. “What if there’s a hundred trillion dollars of digital credit and… 200 trillion worth of digital capital,” he asked, emphasizing that such a structure could remain over-collateralized rather than drift into fractional banking. He also pressed the geopolitical logic: corporate treasuries and well-capitalized exchanges, miners, and custodians become the “first line of economic defense,” lobbying and normalizing Bitcoin within domestic rule-sets the way incumbent industries do. “If you want to win the monetary war you need the institutions that control all the capital and… the support of the government,” he said.

Bitcoin Treasury Companies Will Be Banks
Saylor was explicit that corporate adoption is already compounding. He traced the cohort of publicly traded balance sheets holding BTC from a single firm in 2020—MicroStrategy—to “two or three… then 10… then 20… then 40… about a year ago there were 60… three months ago there were 120 and right now there’s more than 180,” with the target trajectory moving from “100 to a thousand to 10,000 to 100,000.” He blended that diffusion story with the platform thesis—Bitcoin built natively into iOS, Android, Windows, and consumer hardware—arguing that operating-system-level support is the other clear signal that “digital energy” has fused with the fabric of commerce.

Asked about the distributional critique—that corporations crowd out individuals—Saylor inverted the premise, claiming institutional flows have largely accrued to early holders. “When we got involved, Bitcoin was trading $9,000 a coin… today Bitcoin’s $115,000,” he said, attributing much of the appreciation to corporate and ETF demand. “That means that 93% of the gain… went to the individuals that owned the Bitcoin before the corporations got involved.”

The rhetoric can be martial—Saylor calls it a “protocol war”—but his operational discipline hinges on avoiding the traps that wrecked miners in the last cycle. Short and expensive liabilities layered onto depreciating hardware was, in his view, the fatal mismatch. The treasury archetype he champions favors mid-to-longer duration capital structures tied to an appreciating base asset. “If you take a mid-duration or long-duration loan and buy an asset appreciating 30 to 60% a year, you’ll probably be fine,” he said, dismissing M&A diversification as value-destructive opacity compared to the “perfect partner” of simply buying more BTC at “one times revenue.”

Saylor On US Policy
Saylor also pushed the policy and infrastructure horizon, predicting a phased legitimization of tokenized assets while stressing that the “greatest regulatory clarity” remains BTC’s status as a digital commodity that can sit on balance sheets and collateralize credit. He summarized the new political posture in Washington as supportive of making the US a “global Bitcoin superpower”—not by nationalizing miners or acquiring equity stakes, but by mainstreaming custody, collateralization, lending, operating-system integration, and tax treatment. “They want the finance companies in the United States to lead the way… and the finance companies in the United States to lead the way in digital assets and digital capital and Bitcoin adoption,” he said.

For a community accustomed to debating halvings, hash rate, or on-chain heuristics, Saylor’s endgame centers elsewhere: indexes, coupons, tenors, and yield curves—all re-denominated atop a new monetary base. It is a corporate finance thesis at Bitcoin’s core. And it doubles as a provocation to boards and CFOs in every currency regime: “For every company in the world in any capital market, they’re always better off to buy Bitcoin as their capital asset,” he said. The rest is execution at scale. “Get to a trillion dollars of collateral growing 30% a year, be issuing $100 billion of credit a year, growing 20, 30% a year,” Saylor concluded. “We’re building a better bank.”

At press time, Bitcoin traded at $116,492.

BTC rises back above $116,000, 1-day chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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Leading cryptocurrencies jumped alongside stocks on Wednesday, as investors looked past government shutdown concerns. Cryptocurrency Gains +/- Price (Recorded at 9:30 p.m.

Jessie A Ellis
Oct 02, 2025 00:22

GalaSwap introduces a trading competition featuring the WTRX/GALA pair, offering exclusive NFTs to top traders and boosting liquidity within the GalaChain ecosystem.

GalaSwap has announced an exciting new trading competition focused on the WTRX/GALA trading pair, marking a significant move to enhance trader engagement and liquidity within the GalaChain ecosystem. According to Gala News, this competition, which began on October 1st and will run until October 8th, 2025, invites traders to compete by executing swaps on the platform.

Competition Details
The competition ranks traders based on their total trading volume in the WTRX/GALA pair on swap.gala.com. Participants have the opportunity to win exclusive NFTs, specifically crafted for this event. The top traders will receive 'Vampire Boxing Facility Worker' NFTs in various rarities, including Legendary, Epic, and Rare.

Exclusive NFT Prizes
The prize structure is designed to reward the top ten traders with unique NFTs, each offering different levels of in-game utility within the Town Star game. For example, the Legendary Vampire Boxing Facility Worker boosts all Boxing Facility Crafts' speed by 30%, while the Epic version offers a 20% increase. Additionally, from the 11th place onward, all participants who execute at least one trade will receive an Uncommon Vampire Boxing Facility Worker NFT.

Why Participate?
This event is more than just a competition; it provides an opportunity for traders to demonstrate their skills and contribute to the liquidity and growth of the GalaChain decentralized ecosystem. The competition also highlights GalaSwap's commitment to transparency and engagement among its user base.

Getting Started
To participate, traders need to connect their wallets on GalaSwap and begin trading the WTRX/GALA pair. It's important for participants to review the competition's terms and conditions, available here, to ensure compliance and eligibility for the rewards.

Prize Box Odds
As part of the rewards, winners will also receive special prize boxes containing various items with different probabilities. Notably, the Memorial Day Box Mystery Pack, the Vending Machine Mystery Pack, and the Garden Gnomes Blind Collectors Sale offer a range of collectibles, each with its own set of odds for obtaining rare items.

GalaSwap's innovative approach to trading competitions not only incentivizes participation but also strengthens the platform's ecosystem by offering unique and valuable rewards to its community.

Image source: Shutterstock

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