Market Signal Briefing

XRP price is showing signs of recovery after finding solid support near the $2.72–$2.77 range. The token, like Bitcoin and Ethereum, has begun to retrace higher, pushing back above the $2.80 and $2.85 levels.

The SEC's groundbreaking no-action letter on Doublezero's 2Z token signals regulatory clarity, fueling confidence, compliance, and momentum for U.S. crypto innovation, token distribution, and industry-wide growth opportunities. SEC Clears Path for 2Z Token With Landmark No-Action Letter The U.S.

Journalist

Posted: October 1, 2025

Key Takeaways
Is Ethereum about to trigger a short squeeze?
Over $10 billion in ETH shorts are at risk if price moves toward $4,359.

Are traders ignoring bullish signs?
Despite negative sentiment, whales are buying, and bearish momentum is fading.

Ethereum [ETH] might be on the edge of something big, and short sellers are sweating.

Over $10 billion worth of ETH shorts are now hanging by a thread. If price breaks toward the $4,359 mark, it could spark a liquidation cascade that sends ETH flying.

The recent downtrend looks like it’s losing steam, and bullish momentum is rising.

Where do we go from here?

Fear in the air, but ETH is unfazed
Despite the gloom in the market, Ethereum’s starting to push higher, and that’s no coincidence.

Funding Rates stayed negative throughout last week, meaning traders were paying to stay short. That kind of bearish sentiment often shows up right before a reversal.

Source: Cryptoquant

And it’s not just the charts, whales are moving too. Just yesterday, Bitmine bought a jaw-dropping 234,846 ETH (worth $963 million), bringing their total stash to over $10.8 billion.

Source: X

When the market’s leaning bearish, and the smart money starts buying? That’s usually not the time to be asleep at the wheel.

$10B in shorts and they’re on thin ice

Will institutions follow Bitcoin onto other chains? Gino Matos · 42 seconds ago · 6 min read

Structural changes, such as the approval of altcoin ETFs, might change how Wall Street sees Bitcoin.

Oct. 1, 2025 at 2:00 am UTC

6 min read

Updated: Oct. 1, 2025 at 1:38 am UTC

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

The success of spot Bitcoin (BTC) exchange-traded funds (ETFs) and major BTC treasury companies marked another step in the institutional adoption of crypto.

US-traded spot Bitcoin ETFs captured $518 million on Sept. 29 and have accumulated $57.3 billion in net flows since their launch in January 2024, according to Farside Investors data.

BlackRock’s iShares Bitcoin Trust (IBIT) crossed $80 billion in assets by July 2025, becoming the fastest ETF to reach that threshold in just 374 trading days. Adding to the stellar performance, names such as Harvard Management Co. and the Abu Dhabi sovereign wealth fund Mubadala disclosed investments in Bitcoin through IBIT.

The digital asset treasury movement expanded in tandem with the adoption of ETFs. Strategy increased its Bitcoin holdings to 649,031 BTC worth $72.67 billion as of Sept. 29. Meanwhile, Metaplanet up-sized its share offering to $1.4 billion in September to fund aggressive Bitcoin acquisitions, targeting 210,000 BTC by 2027.

Institutions now face a choice between cold storage and yield generation. Max Gokhman, deputy CIO at Franklin Templeton Investment Solutions, noted that yield is a major driver for institutional adoption of crypto.

And the SEC is clearing pathways for yield through regulated products. On Aug. 6, a staff statement confirmed that liquid staking tokens do not constitute securities by default, while the Sept. 17 generic listing standards expedited crypto ETF approvals.

As more altcoin ETFs are set to launch in the US, potentially offering yields through staking, institutions will gain exposure to the returns that crypto has to offer. This change might impact how Wall Street sees Bitcoin.

Bitcoin options fragment across chainsBitcoin is scattered across 365,958.79 BTC in synthetic forms totaling $41.8 billion as of Sept. 30, according to Bitcoin Layers.

As Bitcoin does not have native smart contract capabilities, the idea of a synthetic token, commonly referred to as a wrapper, is to allow the usage of BTC in DeFi protocols built on other blockchains.

Babylon leads native staking with 58,271.77 BTC, generating a 0.29% APR through a self-custodial protocol that secures proof-of-stake chains.

Using Babylon’s infrastructure, chains and applications can tap a security layer maintained by BTC staking.

Lombard’s LBTC token transforms Bitcoin into a liquid staking asset with 0.82% APY and $1.3 billion in total value locked (TVL), compatible with Ethereum, Base, Solana, BNB Smart Chain, Katana, Sonic, Starknet, and Sui through native Chainlink and canonical bridge integrations.

Threshold operates tBTC v2 across Ethereum, Starknet, Sui, and MezoChain with 6,335.31 tBTC bridged and $717.7 million in TVL.

ProtocolTVLYield/APRCompatible NetworksBabylon $6.61 billion0.29% APRBitcoin native (secures PoS chains via Bitcoin staking)Lombard (LBTC)$1.3 billion0.82% APY13 networks: Ethereum, Base, Solana, BNB Smart Chain, Katana, Sonic, Starknet, Sui, and othersThreshold (tBTC v2)$717.7 millionN/A4 networks: Ethereum, Starknet, Sui, MezoChainSolv Protocol (solvBTC)$1.7 billion0.79%-13.28% APY12 networks: Arbitrum, Mantle, Bitcoin mainnet, and othersb14g$300 million~5% APR (average)Multiple networks (dual-staking with native tokens)Zeus Network (zBTC)$58.7 million4.52% APYBitcoin-to-Solana bridge (via Multi-Party Computation)Thorchain$74 millionN/ACross-chain native swaps (multiple blockchains)Lightning Network$438 millionN/ABitcoin Layer-2 payment channelsSolv Protocol offers its solvBTC across 12 chains, including Arbitrum, Mantle, and the Bitcoin mainnet, with $1.7 billion in total value locked (TVL).

Meanwhile, b14g offers an average of 5% APR through dual-staking mechanisms that combine BTC with native protocol tokens, across a $300 million TVL.

Zeus Network bridges Bitcoin to Solana via the zBTC wrapper, with $58.7 million in TVL using Multi-Party Computation for trustless cross-chain interoperability. It offers 4.52% APY on staking via Fragmetric.

Thorchain facilitates native Bitcoin swaps for assets across different chains with $74 million locked. Bitcoin bridges processed $1.87 million in September 2025.

Regarding chains with the largest amounts of wrappers, Ethereum holds 178,458.67 BTC as of Sept. 30, followed by BNB Smart Chain at 24,082.67 BTC and Base at 21,647.85 BTC.

Besides the wrapper domination in established blockchains, Lightning Network presents itself as a significant rail for BTC usage.

Lightning maintains $438 million in TVL despite a 20% decline in public capacity from 5,400 BTC in late 2023 to 4,200 BTC by August 2025.

Coinbase reported that 15% of Bitcoin withdrawals were routed through Lightning by mid-2025, and CoinGate documented that Lightning accounted for 16% of Bitcoin orders in 2024, compared to 6.5% two years prior.

Additionally, Tether deployed USDT over Lightning via Taproot Assets in January 2025, enabling dollar-denominated payments without locking BTC in channels.

Practical difficultiesDespite the plurality of networks and wrappers that institutions could use to add composability to Bitcoin if they wish to, the key point of access remains through ETFs.

Using BlackRock’s IBIT S-1 filing as an example, the document specifies that Coinbase Custody Trust Company holds Bitcoin in segregated cold storage wallets with multi-signature authentication, separate from all other Coinbase assets.

In January 2025, BlackRock filed an amendment to IBIT’s structure to allow in-kind creation and redemption, requiring Coinbase Custody to process withdrawals to public blockchain addresses within 12 hours.

Currently, there is limited room to incorporate yield pathways into Bitcoin ETFs, which would involve exploring the DeFi ecosystem using BTC.

ProtocolStructure TypeCustody ModelTrust AssumptionsBabylonBitcoin-native staking protocolSelf-custodial (non-custodial time-locks on Bitcoin)Trust-minimized: Uses Bitcoin’s native time-lock scripting. BTC remains on Bitcoin blockchain in user’s control. Relies on Bitcoin’s security model. No bridging, wrapping, or third-party custody. Slashing possible for validator misbehavior.Lombard (LBTC)Liquid staking token (LST) built on BabylonConsortium model with decentralized custodyFederated trust: Built on Babylon’s security layer. Uses Security Consortium of institutional custodians. Multi-party validation required for minting/burning LBTC. Relies on finality providers and signers. Proof-of-reserves via Chainlink/Redstone oracles. 9-day unbonding period (Babylon 7-day + Lombard 2-day rebalancing).Threshold (tBTC v2)Decentralized bridge protocolDistributed multi-signature custody (100-of-100 threshold)Honest-majority assumption: Randomly selected group of 100+ node operators hold keys via threshold cryptography. Requires 51-of-100 signers to approve operations. Relies on probabilistic security and staked T tokens for economic security. Forward security protects existing deposits. SPV proofs verify Bitcoin state. No single custodian controls funds.Solv ProtocolMulti-chain Bitcoin LST platformVaries by integrationMulti-chain trust: Relies on security of each integrated chain (12 chains). Cross-chain bridge dependencies. Structured product framework with yield aggregation. Trust assumptions vary by destination chain and vault strategy.b14gBitcoin restaking protocolDual-staking (BTC + native token)Merge restaking model: Combines staked BTC with protocol native tokens. No BTC slashing risk (only native token subject to slashing). Relies on security of underlying networks being secured. Trust distributed across validator sets.Zeus NetworkCross-chain bridge (Bitcoin to Solana)Multi-Party Computation (MPC) custodyFederated MPC trust: Uses threshold signature scheme requiring multiple parties to cooperate. Decentralized node network manages zBTC minting/burning. Trust distributed across validator set. Depends on Solana network security for destination assets.ThorchainDecentralized liquidity protocolThreshold Signature Scheme (TSS) with bonded validatorsEconomic security model: Validators post bonds (2-3x value of pooled assets). Continuous Liquidity Pools (CLPs) enable native swaps. Slashing mechanism for malicious behavior. Trust distributed across economically incentivized validator set. No wrapped tokens—native asset swaps.Lightning NetworkBitcoin Layer-2 payment channelsSelf-custodial (channel-based)Channel counterparty trust: Users maintain custody via pre-funded payment channels. Bilateral trust between channel partners. Can route through multiple channels. Time-locked smart contracts enforce settlement. Trust-minimized for direct channels; routing adds complexity. No bridging or wrapping.Additionally, the Financial Action Task Force’s Travel Rule mandates financial institutions and Virtual Asset Service Providers to transmit originator and beneficiary identifying information with virtual currency transactions.

This standard requires end-to-end transparency to aid law enforcement and mitigate financial crime risks. ETF issuers must maintain segregated custody with regulated entities that are capable of producing audit trails that satisfy the travel rule requirements.

Wrapped Bitcoin protocols introduce trust assumptions that conflict with institutional custody standards.

Threshold’s tBTC relies on decentralized node operators to maintain the bridge between Bitcoin and Ethereum, creating a multi-signature custodial model where no single entity controls funds.

Although this is positive from a decentralization perspective, it introduces a security dependency on the integrity of the validator set. Lombard utilizes Babylon’s Bitcoin Staking Protocol, combined with a consortium model for custody, which distributes risk across multiple parties.

Again, there is an effort to decentralize single points of failure; however, this adds coordination requirements that complicate audit procedures.

A Bitcoin ETF holding LBTC on Base would face scrutiny on Optimism’s fraud-proof system, Base’s sequencer centralization, and the bridge’s oracle dependencies.

Each wrapped BTC variant trades off security assumptions. BitGo’s wBTC utilizes centralized custody with legal agreements, whereas Threshold’s tBTC distributes custody across validators, who must maintain uptime and adhere to honest behavior.

These layered risks multiply audit surfaces beyond what segregated cold storage presents.

Yield profiles and cost-benefitBabylon’s 0.29% APR on staked Bitcoin compares unfavourably to Ethereum’s 3.2% staking yield or Solana’s 7.1% APY available through liquid staking derivatives.

Lombard’s 0.82% return requires institutions to accept exposure to 13 different blockchain networks, each with distinct security models and potential failure modes.

These examples reveal the challenge that a 1% yield advantage on a 5% Bitcoin allocation contributes just five basis points to total portfolio returns.

Institutions might find insufficient compensation for introducing bridge risk, oracle dependencies, and cross-chain settlement complexity.

Franklin Templeton’s Gokhman observed that institutions increasingly view Bitcoin as a cyclical, high-beta risk asset that correlates with traditional financial markets as institutional adoption grows.

This framing suggests that portfolio managers prefer to separate their Bitcoin holdings from yield generation, maintaining BTC as a pure exposure play while sourcing returns from assets with more established DeFi infrastructure.

An institution could hold Bitcoin through IBIT’s segregated cold storage while deploying capital into Ethereum ETFs that will potentially offer staking yields through proven liquid staking tokens approved by the SEC’s August 2025 guidance.

Dividing exposure requires allocating capital across multiple positions but preserves custody clarity and simplifies compliance reporting.

The alternative of bridging Bitcoin to access DeFi yields forces institutions to evaluate whether Threshold’s node operators or Lombard’s decentralized consortium provides equivalent security to Coinbase Custody’s federally regulated cold storage.

Each bridge introduces a new counterparty, and each destination chain adds another risk surface that chain risk committees must review. The fragmented liquidity across 365,958 BTC, spread across different protocols and chains, compounds this complexity, as no single venue offers the depth that institutions require for entry and exit without market impact.

In conclusion, Bitcoin layer-2 and alternative layer protocols offer technical solutions for yield generation. However, it is up to regulators to find a way to accommodate these paths into regulated products, and it is up to institutions to decide whether direct exposure is worth the risk.

Mentioned in this articleLatest Bitcoin Stories

On Sep. 30, Ripple CTO David “JoelKatz” Schwartz announced he’s stepping back from his daily activities at Ripple Labs after more than 13 years at the firm.

He shared that over the last few months, he has been researching other use cases for XRP besides what Ripple is focused on. Still, he noted that he isn’t leaving Ripple permanently and will continue to remain active in the company’s activities. Schwartz joined the company in 2011 as a cryptographer and was promoted to Chief Technology Officer in 2018. 

“The time has come for me to step back from my day-to-day duties as Ripple CTO at the end of this year,” Schwartz wrote on X. “I’m really looking forward to spending more time with the kids and grandkids and going back to the hobbies I set aside. However, be warned, I’m not leaving the XRP community. You haven’t seen the last of me (now, or ever).

Schwartz steps back but remains on the Ripple board 
Schwartz will remain at Ripple as Chief Technology Officer Emeritus, an honorary title, and will also join the company’s board of directors. CEO Brad Garlinghouse praised the move on X, calling Schwartz a “true OG in crypto.” A Ripple spokesperson noted that Dennis Jarosch, Senior Vice President of Engineering, will lead the team going forward.

Data from the blockchain analytics platform Nansen showed that the price of XRP surged about 1.4% to $2.87 from $2.83 in the hours following Schwartz’s announcement. The token reached an all-time high price of more than $3.50 in July. It is currently the fourth-largest cryptocurrency by market capitalization, with a value of roughly $172 billion.

Ripple is one of the leading blockchain tech and crypto payments firms in the world. Notably, Schwartz had been associated with both Ripple and the XRP Ledger since their inception.

The blockchain firm has established itself as a massive presence in the crypto space, with a loyal fan base they’ve dubbed the “XRP Army.” The company has also dabbled in political efforts; along with Coinbase, it recently donated approximately $70 million to a United States-backed political action committee, Fairshake, that influenced the 2024 election and the 2026 midterms. In a 60 Minutes interview, Garlinghouse said the PAC was formed in part as a counter to the SEC’s enforcement action against Ripple.

Novogratz surprised by XRP’s survival
The SEC’s case, brought under the leadership of Jay Clayton in December 2020, concluded in March when the regulator abandoned a key appeal. Recently, Galaxy Digital CEO Mike Novogratz stated that he did not expect Ripple’s token to survive the SEC lawsuit against the California-based blockchain company. Novogratz made this declaration on a podcast with Kyle Chasse.

The SEC initially accused Ripple of selling unregistered securities in the form of XRP worth $1.3 billion. Following years of litigation, the court finally approved the settlement reached by the parties in August 2025. Novogratz said that this development came as a surprise, as he did not think XRP would last so long.

The entrepreneur continued to say that he previously regarded Ripple’s token with disdain, partly due to its community, which he likened to a cult. Still, he admitted that over time, he concluded that this could generally apply to fans of most successful cryptocurrencies who are completely devoted. The Galaxy head mentioned an example of one of his own employees, who considers Bitcoin a central part of their life.

Novogratz acknowledged the role of Ripple CEO Brad Garlinghouse in the successful resolution of the legal dispute, as well as maintaining the integrity of the community, which he called “one of the strongest” in the industry.

He also noted that XRP turned out to be the best asset to invest in after November 2024, considering its rally.

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AeroVironment, Inc. - Special Call

Company Participants

Denise Pacioni - Director of Investor Relations
Wahid Nawabi - Chairman of the Board, President & CEO
Scott Bowman - CTO & Senior VP of Global Engineering
Trace Stevenson - President of Autonomous Systems
William Ferguson - President of Space, Cyber & Directed Energy
Mary Clum - Executive Vice President of Space & DE Mission Systems
Church Hutton - Chief Growth Officer
Kevin McDonnell - Executive VP & Chief Financial Officer

Conference Call Participants

Andre Madrid - BTIG, LLC, Research Division
Austin Moeller - Canaccord Genuity Corp., Research Division
Colin Canfield - Cantor Fitzgerald & Co., Research Division
Kenneth Herbert - RBC Capital Markets, Research Division
Peter Arment - Robert W. Baird & Co. Incorporated, Research Division
Louie Dipalma - William Blair & Company L.L.C., Research Division

Presentation

Denise Pacioni
Director of Investor Relations

Good morning, everyone. It's wonderful to see so many of you here in beautiful Albuquerque, New Mexico.

Welcome to our Space and Directed Energy facility, where we've developed and built products such as the BADGER, Locust and laser communication terminals.

Before we get started, please take a moment to review our safe harbor statement located on the screens to your left and right. As a reminder, this event is being webcast live and will be archived on our website under the Events and Presentations section. Wi-Fi passwords are located on the tables in front of you, and we ask that you please silence your phones at this time. In the event of an emergency, exits are located on your right, restrooms are located to your left at the back of the auditorium.

As you can see, we have a full agenda for today. You'll gain perspective on our view of the overall defense industry and specifically the defense tech sector, learn more about both of our segments as well as take a deeper

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Washington, D.C., Sept. 30, 2025 (GLOBE NEWSWIRE) -- Wells Fargo serves as presenting sponsor for 2025 Thurgood Marshall College Fund Leadership Institute

Wells Fargo proudly continues its enduring support as presenting sponsor of the

Thurgood Marshall College Fund’s (TMCF)

Leadership Institute, the organization’s signature professional development program serving students attending historically Black colleges and universities (HBCUs). Wells Fargo has served in this role for more than a decade.

The 2025 Leadership Institute will take place from Oct. 1 through Oct. 4, in Washington, D.C., concluding with the

38th Anniversary Gala. More than 500 students from 44 HBCUs around the country are scheduled to attend the 25th-annual Leadership Institute. Fueled by the success of TMCF’s regional CEO Impact Now events, the Anniversary Gala returns in 2025 with a renewed focus.

“Wells Fargo has been an incredible partner for more than a decade,” Dr. Harry L. Williams, president & CEO of TMCF, said. “Their leadership is critical in our mission of preparing the next generation of workforce talent through leadership development. Our students deserve a pipeline to the careers that Leadership Institute connects them with.”

“Wells Fargo is proud to continue our longstanding partnership with the Thurgood Marshall College Fund.,” said Sandra Fernandes, Executive Director and Relationship Manager between TMCF & Wells Fargo. “The Leadership Institute is more than an event—it’s a launchpad for future leaders. We’re committed to helping HBCU students access meaningful career opportunities and build pathways into society.”

Leadership Institute is a five-day event and part of a larger mission to advance pathways toward economic mobility for HBCU students and intentionally diversify the future workforce within corporate America. It also provides organizations access to a talent and diverse student population while connecting participants to Fortune 500 companies and top-tier organizations.
The event is highly selective, with an acceptance rate just above 15% of applicants. The cumulative GPA of participants is 3.7. For many, launching a career is a top priority.

“My hope for the conference is to gain full-time job offers within different industries,” Riley Roberts, a senior computer science major at Alabama A&M University, said.

Brandon J. Poplar, a senior law studies major at Delaware State University, agreed.

“Leadership Institute is not just another conference. It is a pipeline,” he said. “It develops us as leaders, prepares us for the workforce and places us in direct connection with employers who are ready to hire. I am living proof of that.”

The Anniversary Gala is TMCF’s largest fundraising event, convening corporate executives, government officials and philanthropists to honor the organization’s impact in supporting HBCUs while advancing access, opportunity and economic mobility for their students. The black-tie affair includes an awards ceremony, high-profile entertainment and a celebration of TMCF scholars.

“It’s the biggest week of the year for the Thurgood Marshall College Fund and we’re so excited to welcome our students, partners and supporters to the nation’s capital,” Dr. Williams, president & CEO of TMCF, said. “These events give us the opportunity to demonstrate that we are a best-in-class organization working exceptionally hard on behalf of our students and

member schools.”

As always, the Anniversary Gala will honor individuals and partners, impacting societal good through mission-aligned work.

Blue Meridian Partners (Blue Meridian) and The Leonsis Family Foundation (LFF) and Monumental Sports & Entertainment (MSE) are this year’s Anniversary Gala honorees.

Jim Shelton is the chief executive officer of Blue Meridian and will receive the CEO Impact Award on behalf of the organization.

Zach Leonsis is accepting on behalf of LFF and MSE, where he serves as the President of Media & New Enterprises of MSE which encompasses the

Washington Capitals, the

Washington Wizards and the

Washington Mystics.

Award-winning actor Larenz Tate is this year’s Gala host. Tate’s cinematic career has spanned five decades, with roles in iconic films such as “Menace II Society,” “Dead Presidents,” “Love Jones,” “Crash” and “Ray.” Tate has also appeared on television in “Family Matters,” “The Fresh Prince of Bel-Air,” “Power” and “Power Book II: Ghost.”

Three-time Grammy-nominated artist Luke James will provide entertainment. James has starred in hit TV shows and critically acclaimed films, released top albums and toured with music icons. His acting credits include “The Chi,” “Star,” “Insecure,” “Unsolved: The Murders of Tupac and the Notorious B.I.G.,” “Genius: Aretha,” and “The Bobby Brown Story.” His career began as a background singer for Tyrese, which led to opening for Beyoncé's Mrs. Carter Show World Tour. His latest album is “For My People’s Time.”

Media personality Tambra Cherie, a Jackson State University alumna, will serve as the red carpet Gala host. Cherie is one of the stars of the reality show “Belle Collective,” which airs on the OWN Network.

Long-time TMCF Board of Directors member and NHL Commissioner Gary B. Bettman serves as the chair of the 38th Anniversary Gala, with TMCF board directors Toni Townes-Whitley of SAIC and Jeffrey J. Hurd of Equitable Holdings as co-chairs.

Individual tickets for the gala are $2,500, with table costs beginning at $25,000. To sponsor the event, purchase tickets or for more information, email [email protected].

About the Thurgood Marshall College Fund
Established in 1987, the Thurgood Marshall College Fund (TMCF) is the nation’s largest organization exclusively representing the Black college community. TMCF member schools include the publicly supported historically Black colleges and universities, predominantly Black institutions and historically Black community colleges, enrolling nearly 80% of all students attending Black colleges and universities. Through scholarships, capacity building and research initiatives, innovative programs and strategic partnerships, TMCF is a vital resource in the K-12 and higher education space. The organization is also the source of top employers seeking top talent for competitive internships and good jobs. TMCF is a 501(c)(3) tax-exempt, charitable organization. For more information about TMCF, visit www.tmcf.org.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo

With Donald Trump expected to sign a deal that will keep TikTok operating in the U.S.

KETCHIKAN, Alaska & WESTPORT, Wash.--(BUSINESS WIRE)--Alaska Power & Telephone Company (AP&T) announced today that Ryan Wopschall has been appointed President and member of the Board of Directors of Sealink Networks, Inc. (SNI), a majority-owned subsidiary co-founded by AP&T and Wopschall in 2024. Sealink Networks was established to expand digital infrastructure across North America, focusing on subsea fiber optic cable landing site infrastructure and dark fiber services. SNI is well along in completing a capital raise and the acquisition of permits for SNI’s first diverse cable landing site in Westport, WA. Wopschall will lead the company in the construction of this unique infrastructure and its next phase of growth. As part of this appointment, Sealink has also acquired Wopschall Consulting, LLC, bringing its specialized advisory services into the SNI portfolio.

Bill Marks, CEO of AP&T and SNI commented, “Ryan became an integral part of AP&T’s success as the company completed vital subsea fiber optic cables in Alaska, and appointing him to these leadership positions was the obvious next step in establishing SNI as a leader in next-generation subsea infrastructure which will drive growth, resilience, and innovation in the years ahead. We are delighted he is joining us as a full-time member of our senior leadership team.”

Wopschall brings more than 18 years of experience in the global subsea cable industry. Over the last nine years, he has provided consulting and advisory services worldwide, specializing in the siting, design, and implementation of subsea fiber optic cable projects. He has worked extensively with hyperscalers to determine optimal subsea landing locations and to integrate them with terrestrial infrastructure. In partnership with AP&T, Wopschall led the development of a new 500-kilometer subsea and terrestrial fiber network in Southeast Alaska, creating six new landing sites and transforming regional connectivity. Since 2020, he has served as General Manager of the International Cable Protection Committee (ICPC), the leading global trade organization for the subsea cable industry.

As President of SNI, Wopschall will guide the company’s development of new subsea cable landing sites, establishing Sealink as a trusted partner for carriers, hyperscalers, and enterprises seeking reliable and diverse digital infrastructure solutions. “Sealink Networks is focused on building the resilient, future-ready infrastructure that today’s digital economy demands,” said Wopschall. “We are committed to bridging the gap between land and sea connectivity while opening new opportunities for the industry.”

AP&T Chair Bob Engel added, “Bill Marks has assembled a uniquely qualified and committed senior leadership team with tremendous competencies as an infrastructure provider while remaining fully focused on our mission and commitment to our employee-owners, customers, shareholders, and the communities we serve and support in Alaska. With Wopschall’s appointment, our growth through SNI ensures we stay at the leading edge of digital infrastructure while looking for new and diverse ways to expand our service offerings.”

About Alaska Power & Telephone Company

Alaska Power & Telephone Company (OTCMKTS: APTL) is an employee-owned, community-minded telecom and power utility delivering advanced broadband, communications, and energy solutions across more than 40 rural and remote Alaskan communities. With a strong foundation of local ownership and a forward-looking approach, AP&T is driving growth through innovation, infrastructure investment, and a deep commitment to the people and places it serves.

Discover more at www.aptalaska.com

About Sealink Networks, Inc.

Sealink Networks, Inc. (SNI) is a forward-looking telecommunications infrastructure company specializing in subsea fiber optic cable landing stations and high-capacity network interconnection. Launching its first facility in Westport, Washington, SNI provides critical connectivity between subsea and terrestrial fiber systems, enabling scalable, resilient data transport across the Pacific Northwest and beyond. With a focus on reliability, innovation, and global reach, Sealink Networks is helping shape the future of digital infrastructure.

Learn more at www.sealinknetworks.com

U.S. President Donald Trump announces a deal with Pfizer to sell drugs at lower prices, in the Oval office of the White House in Washington, D.C., U.S., September 30, 2025. REUTERS/Ken Cedeno Purchase Licensing Rights, opens new tab

CompaniesSept 30 (Reuters) - President Donald Trump, who has long argued that the U.S. pays more than it should for prescription medicines, on Tuesday said Pfizer

(PFE.N), opens new tab had agreed to cut prices for drugs it sells to the Medicaid program for low-income Americans and to ensure the U.S. would not pay more for new medicines than other high-income nations. Trump said he expects other drugmakers to follow suit.

Here are details of the agreement:

Sign up here.

THE "TRUMPRX" WEBSITEEarly next year the U.S. government plans to launch a website called TrumpRx that will help consumers search for a drug to see if they can buy it directly from its manufacturer. Nearly all of these existing direct-to-consumer sales platforms require patients to buy their medicines out-of-pocket, usually at a higher cost than they would pay if they had health insurance. That is very different from filling a prescription at a pharmacy that handles insurance claims, charging the patient only a flat co-pay or a percentage of the drug's cost. For people without health insurance, drugmakers often offer lower-cost or free drug programs.

MORE PRICE CUTS FOR MEDICAIDPfizer pledged to reduce prices for a majority of its treatments covered by Medicaid, the joint federal and state health insurance program for low-income individuals and families. There were few details on timing and discount amounts.

Drugmakers are already required by statute to give Medicaid, which accounts for about 10% of U.S. drug spending, substantial discounts off the lowest available price for a medication.

The Trump administration did not say whether lower Medicaid prices would also impact the more substantial pharmaceutical sales passing through commercial insurers or other government plans, including Medicare.

MOST-FAVORED NATION PRICINGPfizer also committed to launch new drugs at the same price in the United States as in other high-income countries.

Studies have shown that the U.S. pays more than

three times, opens new tab as much for brand-name pharmaceuticals as other wealthy countries.

U.S. prices for newly launched pharmaceuticals more than doubled last year to $370,000 from $180,000 in 2021, as companies leveraged scientific advances to develop more therapies for rare diseases, which typically command high prices, a Reuters analysis found.

Some drugmakers had already pledged to bring launch prices more into alignment. Bristol Myers last week said it would launch schizophrenia drug Cobenfy in Britain next year at a price matching its U.S. list price. The drug, as is often the case in with new pharmaceuticals, was approved in the United States some 18 months before its anticipated UK launch.

Questions remained about whether any announced prices would be final prices or whether drugmakers could still offer confidential discounts to governments or other buyers.

The Trump administration said it would press other countries to pay more for medications, allowing drugmakers to fund additional research and development work. Other governments have bristled at the idea that they should pay more for branded drugs, although there has been talk of concessions.

A RETURN ON PFIZER'S INVESTMENTTrump has said he will impose a 100% tariff on imports of branded or patented pharmaceutical products from October 1, unless a drugmaker is building a manufacturing plant in the U.S.

Pfizer pledged to onshore 100% of the value of all imports that it currently brings into the United States, and in return the company will receive a three-year grace period during which its products will not be subject to pharmaceutical-targeted tariffs.

Reporting by Deena Beasley; Editing by Stephen Coates

Our Standards: The Thomson Reuters Trust Principles., opens new tab

, /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) (the "Company" or "Rocket Companies"), the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, announced today the expiration and final results of its previously announced tender offers and consent solicitations (collectively, the "Tender Offers and Consent Solicitations") for the outstanding (i) 5.125% Senior Notes due 2030 (the "2030 Notes") and (ii) 5.750% Senior Notes due 2031 (the "2031 Notes" and, together with the 2030 Notes, the "Notes") of  Nationstar Mortgage Holdings Inc. ("Nationstar"), a subsidiary of Mr. Cooper Group Inc. ("Mr. Cooper"). The Tender Offers and Consent Solicitations expired at 5:01 p.m., New York City time, on September 30, 2025 (the "Expiration Date"). No tenders submitted after the Expiration Date are valid.

According to information provided to the Company by D.F. King & Co., Inc., the Depositary and Information Agent for the Tender Offers and Consent Solicitations, as of the Expiration Date, Notes were validly tendered and not validly withdrawn with respect to (i) $574,308,000 aggregate principal amount of the 2030 Notes, representing approximately 88.36% of the outstanding 2030 Notes and (ii) $535,765,000 aggregate principal amount of the 2031 Notes, representing approximately 89.29% of the outstanding 2031 Notes.

The Company has accepted for purchase the Notes that were validly tendered (and not validly withdrawn) in the Tender Offers and Consent Solicitations. The "Settlement Date" for the Tender Offers and Consent Solicitations is expected to be on October 1, 2025, substantially concurrently with, and contingent upon, the expected closing of the Mr. Cooper Acquisition.

Any eligible holder (each such holder, an "Eligible Holder" and collectively, the "Eligible Holders") that validly tendered (and did not validly withdraw) their Notes prior to 5:00 p.m., New York City time, on August 15, 2025 (the "Early Tender Deadline") were accepted for repurchase at a price of $1,012.50 per $1,000 of principal amount of the Tender Offer Notes, plus accrued and unpaid interest from the last interest payment date on such purchased Tender Offer Notes up to, but not including, October 1, 2025, the expected settlement date (the "Tender Offer Settlement Date"). Tender Offer Notes validly tendered (and not validly withdrawn) after the Early Tender Deadline but prior to the Tender Offer Expiration Date were accepted for repurchase at a price of $962.50 per $1,000 of principal amount of the Tender Offer Notes, plus accrued and unpaid interest from the last interest payment date on such purchased Tender Offer Notes up to, but not including, the Tender Offer Settlement Date.

On the Early Tender Deadline, the Company received consents (the "Requisite Consents") sufficient to amend the applicable Indentures governing the Notes to, (i) eliminate the requirement to make a "Change of Control" offer for the related Notes following the consummation of the Mr. Cooper Acquisition and future transactions, (ii) eliminate substantially all of the restrictive covenants in the applicable Indenture and the Notes, (iii) eliminate certain conditions to legal defeasance or covenant defeasance in the applicable Indenture and the Notes and (iv) eliminate all events of default other than events of default relating to the failure to pay principal of and interest on the Notes (collectively, the "Proposed Amendments"). On the Early Tender Deadline, Nationstar and the trustee of each series of Notes entered into a supplemental indenture to each Indenture to effect the Proposed Amendments, which became operative today, at the time that the Company accepted for purchase the applicable series of Notes satisfying the Requisite Consents in the Tender Offers and Consent Solicitations.

The terms and conditions of the Tender Offers and Consent Solicitations are described in an Offer to Purchase and Consent Solicitation Statement, dated August 4, 2025 (the "Offer to Purchase and Consent Solicitation Statement"). 

J.P. Morgan Securities LLC acted as the dealer manager and solicitation agent (the "Dealer Manager") for the Tender Offers and Consent Solicitations. D.F. King & Co., Inc. was retained to serve as both the depositary and the information agent (the "Depositary and Information Agent") for the Tender Offers and Consent Solicitations. Questions regarding the Tender Offers and Consent Solicitations should be directed to the Dealer Manager at (866) 834-4666 (Toll-Free) or (212) 834-7489 (Telephone). Requests for copies of the Offer to Purchase and Consent Solicitation Statement and other related materials should be directed to D.F. King & Co., Inc. at [email protected] (email), (800) 549-6864 (U.S. Toll-Free) or (212) 390-0450 (Banks and Brokers).

Forward-Looking Statements

This press release contains statements herein regarding the proposed transaction between Rocket Companies and Mr. Cooper, which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of words "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. Such forward-looking statements are based upon current beliefs, expectations and discussions related to the proposed transaction and are subject to significant risks and uncertainties that could cause actual results to differ materially from the results expressed in such statements.

Risks and uncertainties include, among other things, (i) the risk that the proposed transaction may not be completed in a timely basis or at all, which may adversely affect Rocket Companies' and Mr. Cooper's businesses and the price of their respective securities; (ii) the potential failure to receive, on a timely basis or otherwise, the required approvals of the proposed transaction, including stockholder approval by Mr. Cooper's stockholders, and the potential failure to satisfy the other conditions to the consummation of the proposed transaction; (iii) the effect of the announcement, pendency or completion of the proposed transaction on each of Rocket Companies' or Mr. Cooper's ability to attract, motivate, retain and hire key personnel and maintain relationships with others with whom Rocket Companies or Mr. Cooper does business, or on Rocket Companies' or Mr. Cooper's operating results and business generally; (iv) that the proposed transaction may divert management's attention from each of Rocket Companies' and Mr. Cooper's ongoing business operations; (v) the risk of any legal proceedings related to the proposed transaction or otherwise, including the risk of stockholder litigation in connection with the proposed transaction, or the impact of the proposed transaction thereupon, including resulting expense or delay; (vi) that Rocket Companies or Mr. Cooper may be adversely affected by other economic, business and/or competitive factors; (vii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, including in circumstances which would require payment of a termination fee; (viii) the risk that restrictions during the pendency of the proposed transaction may impact Rocket Companies' or Mr. Cooper's ability to pursue certain business opportunities or strategic transactions; (ix) the anticipated tax treatment of the proposed transaction may not be obtained, risks associated with third party contracts containing consent and/or other provisions that may be triggered by the proposed transaction; (x) the risk that the anticipated benefits and synergies of the proposed transaction may not be fully realized or may take longer to realize than expected; (xi) the impact of legislative, regulatory, economic, competitive and technological changes; (xii) risks relating to the value of Rocket Companies securities to be issued in the proposed transaction; (xiii) the risk that integration of the Rocket Companies and Mr. Cooper businesses post-closing may not occur as anticipated or the combined company may not be able to achieve the anticipated synergies expected from the proposed transaction, and the costs associated with such integration; and (xiv) the effect of the announcement, pendency or completion of the proposed transaction on the market price of the common stock of each of Rocket Companies and Mr. Cooper.

These risks, as well as other risks related to the proposed transaction, are more fully described in a registration statement on Form S-4/A (the "Registration Statement") filed by Rocket Companies with the Securities and Exchange Commission (the "SEC") on July 25, 2025 in connection with the proposed transaction. While the list of factors presented here and the list of factors presented in the Registration Statement are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Additional factors that may affect future results are contained in each company's filings with the SEC, including each company's most recent Annual Report on Form 10-K and Form 10-K/A, as it may be updated from time to time by quarterly reports on Form 10-Q and current reports on Form 8-K, all of which are available at the SEC's website http://www.sec.gov. The information set forth herein speaks only as of the date hereof, and any intention or obligation to update any forward-looking statements as a result of developments occurring after the date hereof is hereby disclaimed.

SOURCE Rocket Companies, Inc.

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LAGUNA HILLS, Calif.--(BUSINESS WIRE)--BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY), the world's first commercial producer of ultra-low power, fully digital, event-based neuromorphic AI, will be offering developer access on Edge Impulse to two BrainChip products at Imagine 2025 Conference by Edge Impulse. BrainChip's exhibit at the event will demonstrate how to train and deploy artificial intelligence / machine learning (AI/ML) models on BrainChip-supported platforms, including t.

-

NEW YORK--(BUSINESS WIRE)--If you have suffered a loss on your V.F. Corporation (“VFC” or the “Company”) (NYSE:VFC) investment, contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected], or fill out the contact form below to discuss your rights or interests in the securities fraud class action lawsuit at no cost.

Investors have until November 12, 2025 to ask the Court to appoint them as lead plaintiff.

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Happened?

On May 21, 2025, VFC reported its fourth quarter and full-year fiscal 2025 results, highlighting a significant decline in growth trajectory for its Vans brand, which faltered from an 8% loss the quarter before to a 20% loss in the fourth quarter, and noting such decline would continue through the next quarter. The Company attributed its results and below-expectation guidance in part to deliberate actions by the Company to eliminate unprofitable or unproductive businesses and an additional set of deliberate actions already in-place but previously unannounced. VFC further noted that, disregarding these deliberate actions, Vans would still have shown a high single digit revenue decline, suggesting growth slowed in comparison to the prior year’s sequential improvements irrespective of management’s new deliberate actions. On this news, the price of VFC shares declined by $2.28 per share, or approximately 15.8%, from $14.43 per share on May 20, 2025 to close at $12.15 on May 21, 2025.

What Is The Lawsuit About?

The lawsuit has been filed on behalf of investors who purchased securities during the period of October 30, 2023 through May 20, 2025, inclusive (“the Class Period”). The lawsuit alleges that defendants disseminated materially false and misleading statements and/or concealed material adverse facts concerning the true state of VFC’s turnaround plans; notably, that additional significant reset actions would be necessary to return the Vans brand to growth, resulting in significant setbacks to Vans’ revenue growth trajectory.

[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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

More News From Kirby McInerney LLP

Back to Newsroom

KUALA LUMPUR, Malaysia, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”) today announced that it has filed a Notification of Late Filing on Form 12b-25 with the U.S. Securities and Exchange Commission (“SEC”). The filing provides the Company with additional time to submit its Annual Report on Form 10-K for the fiscal year ended June 30, 2025.

The extension is required to allow additional time to complete audit procedures related to certain fiscal year-end accounts.

Treasure Global expects to file its Form 10-K within the prescribed extension period under SEC rules, on or before October 15, 2025.

The Company will provide updated timing for its earnings release and any related investor communications once available.

About Treasure Global
Treasure Global is a Malaysia-based technology solutions provider specializing in innovative platforms that drive digital transformation in retail and services. The Company’s flagship product is the ZCITY Super App, which integrates e-payment solutions with customer loyalty rewards to create a seamless online-to-offline user experience. As of March 2025, ZCITY has attracted over 2.7 million registered users, positioning Treasure Global as a key player in Malaysia’s digital economy. Treasure Global continuously leverages cutting-edge technologies, including artificial intelligence and data analytics, to enhance its platform’s capabilities across e-commerce, fintech, and other verticals.

Visit treasureglobal.org for more information.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect the Company’s current expectations, assumptions, and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements typically include terminology such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” or similar expressions.

Factors that could cause actual results to differ materially include, without limitation, the Company’s ability to expand its e-commerce platform and F&B distribution business, customer acceptance of new products and services, changes in economic conditions affecting its operations, the outcome of partnership discussions, the impact of global health crises, supply chain disruptions, competition, and regulatory risks related to data privacy and security. Additional risks include volatility in digital asset markets, potential vulnerabilities in custodial security, and evolving global and domestic regulatory frameworks applicable to blockchain technologies. These risks, along with other factors, are discussed in more detail in the Company’s filings with the U.S. Securities and Exchange Commission.

The forward-looking statements in this press release speak only as of the date hereof. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

CONTACT
Investor and Media Contact:
Investor Relations Team
Treasure Global Inc.
[email protected]

@CharlesSchwab's Kevin Horner says the SPX's 20-day SMA can "very well" provide continued support for the index with "few and far between" breaks since April lows. In stock movers, Kevin points out a support range in Celsius (CELH) by widening the view in an 18-month chart.

September 30, 2025 8:04 PM EDT | Source: Scryb Inc.
Toronto, Ontario--(Newsfile Corp. - September 30, 2025) - Scryb Inc. (CSE: SCYB) (OTC Pink: SCYRF) (FSE: EIY) ("Scryb'' or the "Company") announces that it has granted 3,870,000 stock options (the "Options") to various employees, directors, officers and consultants of the Company.

Each Option is exercisable at a price of $0.12 for one common share of the Company (each a "Common Share") for a period of five years from the date of grant and are being issued under the terms of the Company's Omnibus Long-Term Incentive Plan. The Options, and any Common Shares issued upon exercise of the Options, are subject to a four-month and one day resale restriction from the date of grant under applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE").

The aforementioned grant of Options resulted in certain directors and officers of the Company receiving an aggregate of 2,910,000 Stock Options. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), contained in section 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.

About Scryb
Scryb invests in and actively supports a growing portfolio of innovative and high-upside ventures across the technology sector.

Contact:
James Van Staveren, CEO
Phone: 647-847-5543
Email: [email protected]

Forward-Looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to, delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at https://www.sedarplus.ca/.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268654

Nike is getting some wins with the "Win Now" strategy.

credit should read CFOTO/Future Publishing via Getty Images

2025-10-01T00:11:33Z

Nike's Q1 revenue rose 1% to $11.7 billion, the company reported.
The "Win Now" strategy focuses on sports, with running leading the charge for growth.
Challenges persist in Greater China, with a 10% revenue drop due to market issues.

Nike's "Win Now" turnaround strategy comes with wins and losses.

The sports giant, which is in full comeback mode under the guidance of CEO Elliott Hill, reported its earnings for the first quarter of fiscal year 2026 on Tuesday. Although Nike beat analysts' estimates, there were areas where the company shone and other places that still have a way to go.

"We're in the early stages, and our comeback will take time, and our progress won't be linear," Hill said as he wrapped up the call.

Nike reported Q1 revenue of $11.7 billion, up 1% from the year prior and driven by success in North America, wholesale, and its running category. In North America, revenue was up 4% compared to Q1 of fiscal year 2025.

The "Win Now" strategy is upheld by a sports-focused offense that has seen roughly 8,000 employees "realigned." The running category is leading the charge as an example of where Hill and his team want to take Nike.

"Our running team moved fastest into our new formation, and was the first to get sharper on the insights of their athletes," Hill said on the call.

Nike's wholesale partnerships were a pain point for the brand in recent years, but the sports giant said things are looking up. Its wholesale revenues were $6.8 billion, up 7% from the year prior.

However, the hurdles continue in Greater China, where "structural challenges" in the marketplace have led revenue to fall 10% this quarter. Hill told investors that he and his leadership team visited three cities in China a few weeks ago and said they observed the region's interest in basketball, soccer, and healthy living.

Nike Direct, its direct-to-consumer business, and its online business are also areas that need work. While wholesale relationships are on the mend, the company is still figuring out its mission to make the two channels less promotional and more premium.

"We are working to find the right assortment and marketing mix to consistently bring consumers back to our digital ecosystem," Hill said.

It's clear that Nike is sprinting toward a comeback, but the track isn't a straight one.

Nike

Earnings

Read next

Solana (SOL) has seen a notable rebound after dipping to $190.85 last week, with traders interpreting the drop as a prime buying opportunity. The altcoin surged nearly 12% over three days, reaching $213 on Monday.

10 minutes ago

David Schwartz was one of the chief architects behind the XRP Ledger and is well known by many in the cryptocurrency and blockchain industry.

120

David Schwartz, a prominent figure in the cryptocurrency industry due to his role at Ripple Labs, announced plans to “step back from [his] day-to-day duties” at the blockchain company.

In a Tuesday X post, Schwartz, known for being one of the architects of the XRP Ledger, said he would be scaling back his responsibilities at Ripple after more than 13 years at the company. The Ripple chief technology officer joined the company in 2011 as a cryptographer, moving up to become chief technology officer in 2018. 

“The time has come for me to step back from my day-to-day duties as Ripple CTO at the end of this year,” said Schwartz on X. “I’m really looking forward to spending more time with the kids and grandkids and going back to the hobbies I set aside. But be warned, I’m not going away from the XRP community. You haven’t seen the last of me (now, or ever).”

Source: David SchwartzAccording to Schwartz, he will remain at Ripple as chief technology officer emeritus — referring to an honorary title — and join the company’s board of directors. CEO Brad Garlinhouse said on X that Schwartz was a “true OG in crypto,” lauding the move.

In a statement to Cointelegraph, a Ripple spokesperson said senior vice president of engineering, Dennis Jarosch, would lead the team going forward.

Data from the blockchain analytics platform Nansen showed that the price of XRP surged about 1.4% to $2.87 from $2.83 in the hours following Schwartz’s announcement. The token reached an all-time high price of more than $3.50 in July.

Ripple is a major player in the US and internationallyAs the fourth largest token by market capitalization at about $172 billion, XRP has its own group of supporters known to many as the “XRP Army.” Ripple, as the company behind the XRP Ledger, has also grown in size and influence over the years.

Ripple, along with cryptocurrency exchange Coinbase, was one of the most significant contributors to a US-based political action committee (PAC) called Fairshake that could have influenced the outcome of many 2024 election races through media buys. Altogether, the company donated about $70 million to the PAC for the 2024 election and 2026 midterms.

Garlinghouse said in a 60 Minutes interview that year that he was “not sure Fairshake would exist” had the US Securities and Exchange Commission (SEC) not pursued an enforcement case against Ripple.

The SEC’s case, filed under then-Chair Jay Clayton in December 2020, ended in March after the regulator dropped a crucial appeal.

Magazine: XRP ETF pump ‘disappointment,’ Bitcoin to see out 2025 at $173K: Trade Secrets

Claude Predicts has mapped scenarios for XRP, Cardano, and Ethereum amid firmer U.S. oversight, ETF flows, and onchain trends. Bitcoin has neared its ATH, while technical patterns and policy moves have supported expectations for renewed altcoin strength.

Crypto price prediction Today has reviewed XRP, Aster, and Cardano amid a market recovery. Technicals have shown oversold readings, while ETF timelines and platform growth have supported a constructive outlook for potential rebounds and new highs into the coming weeks.

TLDR

Table of Contents

TLDRRLUSD Demonstrates Regulatory Compliance and TransparencyRipple USD’s Growing Adoption in the Crypto MarketRipple USD Strengthens Its Position in the African Market

Ripple USD (RLUSD) achieves a $773.6 million reserve backing, confirmed by a Deloitte attestation.
Jack McDonald, CEO of Standard Custody, praises RLUSD’s regulatory compliance and transparency.
RLUSD gains traction on crypto exchanges, including its recent listing on BybitSpot.
BlackRock and VanEck incorporate RLUSD into their strategies, signaling institutional adoption.
Ripple USD strengthens its position in the African market through strategic partnerships.

Ripple USD (RLUSD) has achieved a significant milestone with its first Deloitte-backed attestation, confirming a reserve backing of $773.6 million. This milestone marks the stablecoin’s rapid growth in under a year since its launch. The attestation from Deloitte & Touche LLP underscores Ripple’s commitment to transparency and regulatory compliance.

RLUSD Demonstrates Regulatory Compliance and Transparency
Jack McDonald, CEO of Standard Custody, praised the audit report, emphasizing that RLUSD is following all necessary regulatory guidelines. He assured the community that Ripple remains dedicated to ensuring RLUSD meets the highest standards of compliance. Unlike other failed projects in the crypto space, RLUSD is positioning itself as a transparent and reliable stablecoin.

McDonald highlighted that RLUSD’s growth in the market is a direct result of adhering to regulatory standards. As the stablecoin continues to gain traction, Ripple is setting a strong example for other crypto projects. “This marks a critical point in the industry where compliance is no longer optional,” said McDonald.

Ripple USD’s Growing Adoption in the Crypto Market
Ripple USD is steadily gaining recognition on crypto exchanges. Recently, the stablecoin was listed on BybitSpot, marking an important step toward increasing liquidity. This listing enhances accessibility for traders and further solidifies RLUSD’s position in the cryptocurrency market. Ripple’s ongoing efforts to expand its reach suggest the stablecoin aims to compete with USDT and USDC.

https://x.com/_JackMcDonald_/status/1973021726653993331

Ripple’s adoption is also gaining momentum among major institutional players. BlackRock (BUIDL) and VanEck (VBILL) have incorporated RLUSD into their strategies, signaling growing confidence in the stablecoin. With institutional investors on board, RLUSD is poised to bridge the gap between traditional finance and the cryptocurrency market.

Ripple USD Strengthens Its Position in the African Market
Ripple has also expanded its presence in Africa, positioning RLUSD as a reliable remittance and payment tool. The company has partnered with several prominent platforms in the region, including Chipper Cash, VALR, and Yellow Card. These partnerships enable Ripple to tap into the growing demand for stablecoins in the African market.

Stablecoins, such as RLUSD, offer an efficient solution for cross-border transactions, especially for remittances. Many African users prefer stablecoins due to their speed and low cost. As Ripple continues to gain ground in this market, it strengthens RLUSD’s role as a key player in global payments.

A fresh bout of tribal sparring over token valuations broke out on X after CoinRoutes founder Dave Weisberger asked why XRP trades at more than ten times the market value of Chainlink’s LINK despite Chainlink’s high-profile role in financial-market infrastructure. The exchange, which followed Swift’s announcement at Sibos that it will launch a blockchain-based ledger, quickly crystallized two very different theories of “value capture” in crypto: a native asset securing and settling an L1 network versus a utility token powering oracle middleware.

Weisberger set the stage with a direct challenge to the XRP community: “Can someone from the XRP army (@xrpmickle) explain how XRP is more than TEN times LINK’s value, when LINK has a REAL partnership with SWIFT, AND a clear path to revenue to be shared with Token holders…” The prompt referenced Chainlink’s post congratulating Swift on adopting “blockchains and oracle networks as a key next step,” and emphasizing that Chainlink and Swift “have collaborated across numerous initiatives” to connect financial institutions to blockchains using existing infrastructure and standards.

Why Is XRP 10x More ‘Valuable’ Than LINK
What followed was equal parts token-economics debate and culture clash. Weisberger, who later clarified “To be clear, I hold both,” added that he thinks “XRP bulls are delusional in their calls,” while conceding that such delusion does not preclude outperformance versus traditional assets. His framing invited two lines of reply: the “volume and adoption” argument and the “different problem, different TAM” argument.

On the data front, one respondent, @baggins_cc, asserted that “The XRP token has a $172B market cap, while LINK has $14B (1/10th). And when looking at the last 24h, by volume, XRPL has processed $4.9B in revenue, compared to LINK, which only has processed $641M. Marketcap is absolute when it comes to ranking, and Volume is empirical & objectively a fact, when it comes to real world adoption.”

Weisberger pushed back with a counterexample intended to decouple throughput from token value: “What is the value of XRPL to XRP when TRX processes more than 500 TIMES USDT by value and is 1/5th the market cap?” The thrust: raw settlement or messaging volume does not automatically translate into superior price performance or capitalization for a token.

The second, more structural line of response came from former Ripple engineer Matt Hamilton. In a succinct distinction, he wrote: “Trying to compare their value is sort of meaningless. Link is a protocol, the XRP Ledger is an actual network. XRP is the native asset of that entire network. Link is just the token used within the link protocol.” In other words, the two assets occupy different positions in the technology stack: XRP is the base-layer currency of an L1 that provides security, fee payment, and liquidity for its ledger; LINK is the work token for an oracle protocol that sits above execution layers to deliver data and cross-chain services.

That stack-positioning argument was amplified by the XRP army member “Ripple Bull Winkle,” who reframed the comparison in terms of addressable markets: “Because XRP isn’t competing with LINK — it’s solving a different problem on a much larger scale. LINK = middleware for data feeds. XRP = bridge asset for global settlement. One secures oracles, the other settles value between banks, CBDCs, tokenized treasuries, & stablecoins. The TAM for cross-border payments dwarfs oracle revenue. And by the way — Ripple has been partnered with SWIFT participants for years. This isn’t XRP vs LINK, it’s XRP in the heart of the plumbing that moves the actual money. That’s why the market values it 10x higher.”

Other replies took aim at investor narratives themselves. When a commenter criticized Weisberger’s “lazy ask,” he volleyed back with a reminder that many were “talked into XRP based on SWIFT, despite no clear token economics and no definitive use case,” nodding to years of marketing-driven expectations that official banking rails would one day require XRP.

In the end, the thread does not “prove” why XRP is worth ten times LINK or vice versa; instead, it exposes a fundamental split in crypto investing frameworks. One camp prioritizes native-asset economics of base layers and their role as neutral settlement media; the other prioritizes revenue-bearing middleware whose services are indispensable to a tokenized financial system.

As the Swift news resets expectations about how legacy rails will interface with blockchains, the core question for markets remains unchanged: which designs actually trap value, and how verifiably do those mechanics funnel real-world usage into persistent demand for the token itself? On that score, the debate is far from settled.

At press time, XRP traded at $2.84.

XRP price, 1-day chart | Source: XRPUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

Will ‘Bitcoin staking’ on Starknet really make BTC productive? Oluwapelumi Adejumo · 26 seconds ago · 2 min read

Starknet introduces trustless BTC staking through wrapped assets, aiming to revitalize over 98% of dormant Bitcoin supply.

Oct. 1, 2025 at 12:00 am UTC

2 min read

Updated: Sep. 30, 2025 at 11:23 pm UTC

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Starknet has introduced a new feature that enables Bitcoin holders to stake their assets on its Ethereum-based Layer 2 network.

Announced on Sept. 30, the update marks what the team calls the first trustless method of staking BTC beyond its original blockchain. Through the program, participants can delegate tokenized versions of Bitcoin, earn staking rewards, and contribute to Starknet’s security, all without surrendering custody of their coins.

Bitcoin itself was never designed for staking. Its proof-of-work system keeps miners central to validation, leaving little room for holders to earn yield directly. Starknet circumvents this limitation by accepting wrapped representations of Bitcoin, such as WBTC, tBTC, Liquid Bitcoin, and SolvBTC.

These assets can be integrated into Starknet’s consensus process and are protected by zk-STARK cryptography. Notably, the technology is widely recognized for its speed and post-quantum resistance.

This initiative also ties into Starknet’s broader ambition of becoming an execution layer for Bitcoin. In recent tests, the team used Circle STARKs to verify Bitcoin’s full header chain in 25 milliseconds on a Raspberry Pi, demonstrating real-world performance.

Starknet has also launched decentralized sequencers and is collaborating with BitVM researchers to explore next-generation Bitcoin scaling solutions.

Will this make Bitcoin productive?Starknet stated that the upgrade aims to rectify a glaring imbalance that has left most of Bitcoin’s $2 trillion market capitalization inactive on its base chain.

According to the firm, roughly 98.5% of the supply remains unused, while Ethereum has developed a thriving staking economy that now holds more than $38 billion, or approximately one-third of its circulating supply.

Bitcoin’s equivalent sector is comparatively small, at approximately $2.5 billion, with only 58,500 BTC in circulation.

Bitcoin Staking Market (Source: Coinlaw)Starknet argued that staking Bitcoin on its network would help redirect part of this dormant value by allowing BTC holders to gain fresh yield opportunities and adding a deeper security base for the Ethereum layer-2.

Since BTC is considered relatively lower-risk than most digital assets, investors typically accept slimmer returns. That dynamic makes BTC an efficient complement to STRK, Starknet’s native token, because securing the network with Bitcoin can be less costly than relying solely on STRK.

Developers argue that this design could initiate a reinforcing cycle as more Bitcoin is transferred to Starknet, thereby increasing liquidity and network security.

This increased liquidity makes Starknet’s ecosystem more appealing to builders and asset holders, which in turn increases STRK participation. At the same time, the higher STRK involvement boosts the overall reward pool, making Bitcoin staking more attractive and drawing even more BTC into the system.

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