Market Signal Briefing

Arthur J. Gallagher & Co. (AJG) Discusses Strategy, Organic Growth Outlook, and AI Initiatives in Investor Meeting March 17, 2026 4:00 PM EDT

Company Participants

J. Gallagher - Chairman & CEO
Michael Pesch - Chief Executive Officer of Global Brokerage of Americas
Thomas Gallagher - President
William Ziebell - Chief Executive Officer of Benefits & HR Consulting Division
Scott Hudson - President & CEO of Risk Management Services
Douglas Howell - Corporate VP & CFO
Sara Walsh

Conference Call Participants

Sathvik Vuppunuthula - Mizuho Securities USA LLC, Research Division
Taylor Scott - Barclays Bank PLC, Research Division
Elyse Greenspan - Wells Fargo Securities, LLC, Research Division
Tracy Benguigui - Wolfe Research, LLC
Mark Hughes - Truist Securities, Inc., Research Division
Robert Cox - Goldman Sachs Group, Inc., Research Division
David Motemaden - Evercore ISI Institutional Equities, Research Division
Meyer Shields - Keefe, Bruyette, & Woods, Inc., Research Division
Katie Sakys - Autonomous Research US LP
Michael Zaremski - BMO Capital Markets Equity Research

Presentation

Operator

Good afternoon, and welcome to Arthur J. Gallagher & Company's quarterly investor meeting with management. [Operator Instructions] Today's call is being recorded. If you have any objections, you may disconnect at this time.

Some of the comments made during this investor meeting, including answers given in response to questions, may constitute forward-looking statements within the meaning of the securities laws. The company undertakes no obligation to update these statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially.

Please refer to the information concerning forward-looking statements and Risk Factors sections contained in the company's most recent earnings release and Form 10-K and 10-Q filings for more details on such risks and uncertainties. In addition, for reconciliations of the non-GAAP measures discussed during this meeting, please refer to our most recent earnings press release and other materials in the Investor Relations section of

Tencent on Wednesday reported full-year revenue that topped analyst predictions, as the Chinese tech giant continues to ramp up investments in AI.

Here's how Tencent did in its full-year earnings for 2025:

Revenue: 751.8 billion Chinese yuan ($109 billion), surpassing the 750.7 billion Chinese yuan expected by analysts, according to data compiled by LSEG."We sustained healthy growth rates in 2025, as AI capabilities improved our ad targeting and supported more engagement with our games, and as our cloud business delivered improving revenue growth and profit at scale," the company said in a statement.

"Our highly resilient and cash-generative core businesses provide us with the resources to fund our increasing investments in AI, including recruiting top-tier AI talent and upgrading our AI infrastructure."

Much of Tencent's revenue comes from gaming, but the company has looked to diversify by expanding into other areas, including cloud computing. The company has said it would grow its cloud computing unit into Europe in 2025.

Tencent's cloud computing group chief told CNBC in January that it was planning to expand its data center footprint in the Middle East. CNBC has approached the company to ask if those plans had changed in light of the Iran war.

This is a developing story. Refresh for updates.

Here are three stocks with buy rank and strong value characteristics for investors to consider today, March 18:

BCB Bancorp, Inc. (BCBP - Free Report) : This bank holding company for BCB Community Bank carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing by 14.1% over the last 60 days.

BCB Bancorp has a price-to-earnings ratio (P/E) of 7.24 compared with 9.60 for the industry. The company possesses a Value Scoreof A.

Lifetime Brands, Inc. (LCUT - Free Report) : This housewares company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing by 13.3% over the last 60 days.

Lifetime Brands has a price-to-earnings ratio (P/E) of 9.08 compared with 1.31 for the industry. The company possesses a Value Score of A.

BHP Group Limited (BHP - Free Report) : This resources company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its next year earnings increasing 10.5% over the last 60 days.

BHP  has a price-to-earnings ratio (P/E) of 14.28 compared with 21.66 for the industry. The S&P possesses a Value Score of B.

See the full list of top ranked stocks here.

Learn more about the Value score and how it is calculated here.

March 18, 2026 05:29 ET  | Source: Shore Capital Stockbrokers Limited

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
Rule 8.5 of the Takeover Code (the “Code”)

1.        KEY INFORMATION

(a)        Name of exempt principal trader:Shore Capital Stockbrokers Ltd(b)        Name of offeror/offeree in relation to whose relevant securities this form relates:
        Use a separate form for each offeror/offereeCAB Payments Holdings Plc(c)        Name of the party to the offer with which exempt principal trader is connected:CAB Payments Holdings Plc(d)        Date dealing undertaken:17 March 2026(e)        Has the EPT previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer?No 2.        DEALINGS BY THE EXEMPT PRINCIPAL TRADER

(a)        Purchases and sales

Class of relevant securityPurchases/ sales Total number of securitiesHighest price per unit paid/receivedLowest price per unit paid/receivedOrdinaryPurchases75,09493.125p91.79pOrdinarySales75,09493.5p92p (b)        Derivatives transactions (other than option)

Class of relevant securityProduct description
e.g. CFDNature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unit      (c)        Options transactions in respect of existing securities

(i)        Writing, selling, purchasing or varying

Class of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitType
e.g. American, European etc.Expiry dateOption money paid/ received per unit         (ii)        Exercising

Class of relevant securityProduct description
e.g. call optionNumber of securitiesExercise price per unit     (d)        Other dealings (including subscribing for new securities)

Class of relevant securityNature of dealing
e.g. subscription, conversionDetailsPrice per unit (if applicable)     The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

3.        OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
If there are no such agreements, arrangements or understandings, state “none”None

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
(i)        the voting rights of any relevant securities under any option; or
(ii)        the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state “none”None

Date of disclosure:18 March 2026Contact name:Justin BallTelephone number:0207 601 6116 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [email protected]. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

Vancouver, British Columbia--(Newsfile Corp. - March 18, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that it has executed an asset purchase agreement dated as of March 17, 2026 between Myriad, Myriad Red Basin LLC (Myriad's newly incorporated New Mexico Subsidiary) and Subatomic Red Basin, LLC ("Subatomic") pursuant to which Myriad will sell the entirety of the claims it holds comprising its Red Basin Uranium Project in New Mexico, USA, to Subatomic for US$2,500,000, payable on closing. Myriad will retain a 10% free carried interest in the Project. Myriad and Subatomic will also form a strategic alliance respecting exploration and development of other projects beyond Red Basin.

Transaction Highlights

Sale price: US$2,500,000 cash, payable on closingRetained interest: 10% free carried interest in the Red Basin Uranium ProjectStrategic alliance: Joint focus on uranium opportunities beyond the Red Basin Project areaReturn on capital: Myriad acquired Red Basin approximately one year ago for C$525,000, representing an over 6x return on invested capital, excluding the carried interestExpected closing: On or before April 17, 2026Myriad's CEO, Thomas Lamb, commented: "Myriad is thrilled to partner with Subatomic in our Red Basin project, producing a wonderful return on capital that is highly accretive for our shareholders, but more importantly, forming a strategic alliance with a new uranium partner, who will advance the project while we maintain exposure to it through our retained interest. There is considerably more to be revealed regarding Subatomic and the full scope of our alliance in due course. What is already clear, however, is that the potential for nuclear energy to provide uninterruptible, clean power solutions for the technology sector is attracting a new class of investors into uranium — and into domestic U.S. sources of uranium in particular. Myriad is well-positioned to benefit from this accelerating trend, and we look forward to updating shareholders on key developments as they unfold as we partner with Subatomic."

Subatomic CEO, Timothy Chilleri commented: "We are thrilled to partner with Tom and the Myriad board using a new model oriented around partnership and American uranium production. This partnership with Myriad Uranium is a defining milestone for the company. As power generation demand soars, the world is experiencing a structural paradigm shift that will reshape economies for decades to come. Uranium is the essential feedstock powering nearly 10% of global electricity needs. As the megatrends of energy and decarbonization accelerate, nuclear power will play an increasingly larger role. We are excited to partner with Myriad to advance the Project while exploring opportunities for resource growth."

Closing of the sale transaction is expected to take place on or before April 17, 2026. Closing is subject to a number of conditions, including without limitation: completion of due diligence by Subatomic; negotiation and execution of an agreement respecting Myriad's 10% free carried interest in the Project; and negotiation and execution of an agreement in relation to the strategic alliance. Myriad will provide updates as the process progresses and these agreements are finalized.

About Subatomic

Subatomic Industries Corporation is backed by 8VC and Overmatch Ventures combining technical mining expertise with a disciplined, technology-forward approach to resource development.

About Myriad Uranium Corp.

Myriad Uranium Corp. holds a 75% interest in the Copper Mountain Uranium Project in Wyoming, USA, with a definitive agreement in place to acquire the remaining 25% interest from Rush Rare Metals Corp. Copper Mountain hosts multiple historic uranium deposits and past-producing mines, including the Arrowhead Mine (approximately 500,000 lbs U₃O₈ produced). The district saw extensive exploration and development by Union Pacific in the late 1970s, including approximately 2,000 boreholes and advanced mine planning prior to uranium market downturn conditions in 1980. Union Pacific is estimated to have invested approximately C$117 million (2024 dollars) in exploration and development at Copper Mountain, generating significant historical resource estimates. The Company also holds a 100% interest in the Red Basin Uranium Project in New Mexico, hosting near-surface mineralization with expansion potential.

A news release detailing a comprehensive assessment of Copper Mountain's uranium endowment by Bendix Engineering for the US Department of Energy published in 1982 can be viewed here.

For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.

Forward-Looking Statements

This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288954

Source: Myriad Uranium Corp.

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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Here are three stocks with buy rank and strong income characteristics for investors to consider today, March 18:

BHP Group Limited (BHP - Free Report) : This resources company witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.5% the last 60 days.

This Zacks Rank #1 company has a dividend yield of 4.1%, compared with the industry average of 0.0%.

BCB Bancorp, Inc. (BCBP - Free Report) : This bank holding company for BCB Community Bank has witnessed the Zacks Consensus Estimate for its current year earnings increasing 14.1% the last 60 days.

This Zacks Rank #1 company has a dividend yield of 3.9%, compared with the industry average of 2.5 %.

Lifetime Brands, Inc. (LCUT - Free Report) : This housewares company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.3% in the last 60 days.

This Zacks Rank #1 company has a dividend yield of 3.7%, compared with the industry average of 0.0%.

See the full list of top ranked stocks here.

Find more top income stocks with some of our great premium screens.

Elbit Systems delivered record results, with sales up 16%, EPS up 46%, and backlog hitting $28.1 billion, now 72% international. Land and cyber divisions are driving high-teens growth, but aerospace lags due to slower U.S. defense spending. Valuation is stretched at 56–65x forward earnings, requiring flawless execution and sustained geopolitical tension to justify current prices.

6.78K Followers

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.

Deere & Company (NYSE:DE) experienced a significant Power Inflow alert, a key bullish indicator that is closely tracked by traders who value order flow analytics, specifically institutional and retail order flow data.

Understanding the Power Inflow Signal

Order flow analytics analyze real-time buying and selling trends by examining the volume, timing, and order size across both retail and institutional traders. These insights offer a more detailed understanding of price behavior and market sentiment for a stock, allowing the trader or institution to make the most informed decision possible.

DE Performance
At the time of the Power Inflow, DE was priced at $563.87. Following the signal:
• Intraday High: $576.85 (+2.30%)

Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.

Market News and Data brought to you by Benzinga APIs

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Tencent Holdings maintained double-digit net profit growth in the final quarter of 2025, topping market expectations, as the Chinese tech giant stepped up its artificial-intelligence efforts amid the sector's boom and fierce competition in China.

1.05K Followers

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.

Disclaimer: All research, figures, and interpretation are provided on a best-effort basis only and may be subject to error. Any view, opinion, or analysis does not constitute as investment or trading advice; please do your own due diligence.

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.

9h05 ▪ 3 min read ▪ by Luc Jose A.

Summarize this article with:

The crypto market often shifts without warning, and Ethereum provides a new demonstration of this. After a period of massive liquidations, a signal from Binance now captures the attention of the most seasoned traders. Behind this movement, one question arises : is a new liquidity cycle taking shape? Between leverage recovery and renewed activity, recent data outline a potential turning point for the market’s second largest capitalization.

In Brief A key Binance indicator signals a return of leverage on Ethereum, marking a resurgence of risk-taking in the market. After a crash that led to over 19 billion dollars in liquidations, traders are gradually returning to leveraged positions. The rise in the Estimated Leverage Ratio suggests a possible entry into a new liquidity phase. Ethereum confirms its technical recovery with the crossing of key levels and an established bullish momentum. The Return of Leverage on Binance Revives Market Momentum One of the most closely watched signals by analysts comes from the Estimated Leverage Ratio (ELR), an indicator that measures leverage usage on derivatives markets. Recent data show a clear trend reversal after a phase of massive disengagement :

The ELR on Ethereum rebounded to 0.69 in mid-March ; During the October 10 crash, it fell from 0.56 to 0.41 (-27 %) ; This episode was accompanied by more than 19 billion dollars liquidated within 24 hours. As the analysis highlights, this movement indicates a gradual return of leverage, a sign that traders are reinvesting in risky positions.

This change is explained by the very function of this indicator. An increase in the ELR reflects an intensification of exposure on derivatives markets. The current rise suggests that players are no longer merely observing the market but are actively taking positions, which generally corresponds to the initial phases of a liquidity cycle.

Ethereum Breaks Key Technical Thresholds in an Uncertain Macroeconomic Climate Beyond leverage data, Ethereum also displays notable technical signals. The price has broken an important resistance around 2,152 dollars, opening the way to new targets.

The asset reached 2,386 dollars after eight consecutive days of gains, with targets identified at 2,337 dollars then 2,538 dollars. This progression fits into a phase of structured recovery, supported by clear bullish momentum. The 2,000 dollar level is monitored as a support threshold in case of correction.

This movement occurs in a particular macroeconomic environment. Expectations around monetary policy play a decisive role, with a 95% probability that the Federal Reserve will keep rates unchanged. Such a context favors risk assets, including cryptos, by reducing pressure on financing conditions. Ethereum thus benefits from an alignment between technical and macroeconomic factors.

The signal sent by Binance revives the debate on the market’s trajectory. Between the return of leverage and technical recovery, the ETH price evolves in a favorable but unstable environment. What happens next will depend on the market’s ability to sustain this momentum without falling into a new phase of excessive volatility.

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Luc Jose A.

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

DISCLAIMER

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

Wallets holding over 1 million Official Trump (TRUMP) meme coins have climbed to a 5-month high. Santiment data puts the count at 83 such addresses, a rise that tracks with an upcoming holder event at Mar-a-Lago.

The TrumpMeme project has announced a crypto and business conference on April 25, 2026, at Donald Trump’s Palm Beach resort. Access to the summit is determined by the TRUMP token leaderboard. 

TRUMP Meme Coin Whale Wallets. Source: SantimentThe top 297 holders during the qualification window will earn a spot at the event, where President Trump is listed as a keynote speaker. The 29 largest wallets will receive additional access to a VIP reception with Trump directly.

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“Your VIP Bonus Eligibility is locked in based on your time-weighted $TRUMP holdings as of Snapshot Day (April 10, 2026). From April 10 through April 26, 2026: If your $TRUMP balance stays at or above your Snapshot Day level → you keep ALL VIP bonuses. If your $TRUMP balance at any time drops below your Snapshot Day level → you may still attend the Conference & Gala Luncheon, but VIP bonuses might be forfeited,” the website reads.

The format mirrors an earlier event held in May 2025. At that time, Trump hosted a dinner for the top 220 TRUMP holders at his golf club near Washington, D.C. 

Notably, BeInCrypto reported that of those invited, 92 holders sold all their TRUMP holdings. The dinner event also failed to produce significant movement in the TRUMP meme coin.

Meanwhile, the TRUMP meme coin surged over 50% after the latest announcement. Still, it’s important to note that the gains were not isolated but a part of a broader market rally. 

TRUMP Meme Coin Price Performance. Source: BeInCrypto MarketsSince then, the token has given back part of those gains. At press time, TRUMP traded at $3.7, down 0.63% over the past day.

With the qualification window still open, the upcoming weeks will test how much conviction current holders maintain and whether new large wallets continue entering the leaderboard.

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

This week has been quite bullish for the Bitcoin price as it has seen a momentous break above $70,000. Although this is bullish, there are still some reservations as to the performance of the digital asset and what it could mean for its future. To this end, Bitget research analyst Lacie Zhang shares views on what the BTC price is doing, outlining the major factors that are currently influencing its price and the broader crypto market.

Bitcoin Price At A Major Structural Level In a statement shared with Bitcoinist, Bitget Research Analyst Lacie Zhang said there has been a convergence of the Bitcoin realized price and the MVRV. Taking into account the performance of past cycles, the analyst points out that this could mean that Bitcoin could be nearing the end of its bear market.

The convergence of these indicators in the past has previously happened toward the tail end of a bear market, and this time could be no different. Not only this, but it is also associated with long-term accumulation, a trend that has usually preceded the bottom of a bear market.

As Zhang further explains, this could mean that investors are now moving from speculative selling to patient capital deployment. This speaks to the long-term accumulation trend, usually as large investors begin to shift their stance. Other factors are the fact that Bitcoin ETF inflows continue to rise, showing confidence from institutional players.

With these factors all aligning at almost the same time for BTC, it could mean that a trend reversal is coming. However, there is still the possibility that the price continues to decline, especially given that the broader macro dynamics have not been clear.

For one, there are still geopolitical tensions, with the US-Iran war shaking the market earlier this month. Zhang also points to the relationship between the US dollar Index and oil prices, which are tightening liquidity conditions. In such a case, risk assets tend to suffer the most, as evidenced by the decline that Bitcoin has suffered.

Predicting where the Bitcoin price could be headed, Zhang explained that “In the short term, Bitcoin is likely to fluctuate between $68,000 and $84,000 as markets search for equilibrium, while Ethereum may trade in a $1,800 to $2,500 range, supported by continued ecosystem development and growing adoption across decentralized finance and tokenized asset infrastructure.”

BTC maintains tentative hold on $74,000 | Source: BTCUSD on Tradingview.com Featured image from Dall.E, chart from TradingView.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

If bettor projections are any guide, the Federal Reserve could hold interest rates steady in the 3.50%–3.75% range on March 18, as war-driven energy prices and rising inflation expectations box policymakers into inaction.

Bitcoin (BTC) is trading near $74,000 after briefly touching $76,000 on Tuesday. Markets have fully priced in a hold, but volatility persists around the rate announcement and Chair Jerome Powell’s press conference.

War, Oil, and a Central Bank With No Good OptionsThe March FOMC meeting takes place against a backdrop with no modern precedent. Iran’s closure of the Strait of Hormuz choked roughly one-fifth of global oil supply.

Multiple missile strikes on Tel Aviv pushed energy prices to multiyear highs, with US diesel hitting $5 per gallon.

Against these backdrops, the CME FedWatch Tool shows near-total certainty of a hold, placing 98.9% odds on no change and 1.1% on a hike.

Interest Rate Cut Probabilities. Source: CME FedWatch toolMajor banks echo that consensus, such that:

Barclays expects the dot plot to signal one 25-basis-point cut in 2026 with higher inflation forecasts. Bank of America projected a likely 8–2 vote with dovish dissents from Governors Stephen Miran and Christopher Waller. Deutsche Bank similarly anticipates a steady hold, citing uncertainty in the Middle East. Bitcoin (BTC) Price Performance. Source: TradingViewAs of this writing, Bitcoin was trading for $74,046, after a modest correction from the $76,000 intra-day high recorded on Tuesday.

Crypto Traders Brace for Powell’s ToneAccording to crypto analyst 0xNobler, a rate below 3.75% would send markets into a parabolic rally, while anything above would trigger a sharp selloff.

🚨 BREAKING

🇺🇸 FED WILL OFFICIALLY ANNOUNCE NEW INTEREST RATES TODAY AT 1 PM ET.

IF RATE < 3.75% → MARKET GOES PARABOLIC
IF RATE = 3.75% → MARKET STAYS FLAT
IF RATE > 3.75% → MARKET DUMPS HARD

ALL EYES ON POWELL 👀 pic.twitter.com/tGz4VhdchG

— 0xNobler (@CryptoNobler) March 18, 2026 Meanwhile, Max Crypto highlights the impending impact of the US-Iran war on short term inflation, noting that more hawkishness could see risk-on assets fall.

“Since the US-Iran war broke out, the short-term inflation expectations are going up… If he signals any more hawkishness, the risk-on assets could dump,” wrote Max.

Elsewhere, analyst Limitless argues that the Fed faces a lose-lose scenario, in that:

Holding rates or turning hawkish would drain liquidity, but Signaling cuts would weaken the dollar and push energy costs higher. Traders have priced in zero rate cuts for the remainder of 2026, a signal that markets expect prolonged tightness.

What Comes NextPowell’s remarks on the dot plot and the Summary of Economic Projections will carry more weight than the rate decision itself.

Any shift in the median dot from one projected cut to zero for 2026 could reprice risk assets sharply.

Fed Dot Plot. Source: CME FedWatch ToolWith oil nearing $100 again, inflation sticky, and no historical playbook for wartime rate decisions, the Fed’s next moves remain the dominant variable for crypto markets heading into Q2.

Aside from SIREN, the other double-digit gainer today is M, followed by KAS.

After the recent volatility that drove bitcoin to a six-week peak at $76,000 and the subsequent retracement, the asset has calmed at around $74,000.

Most larger-cap alts are also quite sluggish on a daily scale, but ETH has managed to defend the $2,300 level, while XRP is above $1.50.

BTC Stands Still at $74K The primary cryptocurrency initiated an impressive leg up last week that culminated on Friday when it touched $74,000 for the second time in the past 10 days. However, the bears were quick to intercept the move and pushed the asset south by almost four grand toward $70,000, especially on Saturday when the US launched another major attack against Iran.

The asset remained above $70,000 during the weekend, and the bulls returned as the new business week began. They helped bitcoin climb toward $74,000 again, where it faced more resistance but ultimately managed to break through on Tuesday morning.

The leg up drove BTC to its highest price level since early February at $76,000. Nevertheless, bitcoin couldn’t keep rising and dipped to $73,500 later that day. The past 18 hours or so have been less eventful, as BTC has remained sideways at around $74,000, where it currently trades as well.

Its market cap stands at $1.480 trillion, while its dominance over the alts on CG is flat at 56.7%.

BTCUSD Chart March 18. Source: TradingView SIREN Enters Top 100 Ethereum continues to trade above $2,300 despite a minor slip in the past day. XRP is also slightly in the red, but remains north of $1.50. BNB, TRX, ADA, HYPE, and LINK are with minor gains, while SOL, DOGE, and BCH have posted insignificant losses.

XMR, CC, and SKY have dropped the most from the larger-cap alts, while ZEC is up by 3% to $276. SIREN has entered the top 90 alts by market after another double-digit daily surge. The asset has soared by 300% in the past month. M and KAS follow suit with 10% gains.

The total crypto market cap continues to sit above $2.6 trillion on CG.

Cryptocurrency Market Overview March 18. Source: QuantifyCrypto

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Recently, Dogecoin surged back above the $0.10 mark, essentially removing a zero from its price and momentarily boosting retail traders' moods. The meme coin community is often excited by such moves because psychologically round levels tend to draw attention.

However, the move above $0.10 might not be as significant as it first appears. This development may turn out to be transient rather than the start of a long-term rally, for a number of structural and technical reasons.

Is it psychologically appealing?From a psychological perspective, crossing $0.10 might seem significant, but over the past year, the level has repeatedly failed to hold. Dogecoin has not proven to be a dependable support zone because it has repeatedly moved above and below this threshold. Frequently broken levels in technical analysis tend to become less significant. The impact of $0.10 on the overall trend is still limited because it has been crossed and lost multiple times.

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DOGE/USDT Chart by TradingViewReal DOGE barrierThe 50 EMA is the actual technical barrier. Technically speaking, resistance above the current price is more pertinent. The main dynamic resistance during the current downtrend is still the 50-day exponential moving average (EMA), which is positioned above the $0.10 threshold.

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The overall market structure continues to benefit sellers as long as DOGE stays below the 50 EMA. Reclaiming the 50 EMA has historically been the first indication that a trend reversal may be in progress. Any move above $0.10, in the absence of that breakout, is not a confirmed bullish shift but rather a part of a larger consolidation or short-term bounce.

True historical resistanceThe true resistance is $0.11. The most recent rejection point on the chart, $0.11, is where the most direct technical resistance is located. This level represents the most recent instance in which sellers reclaimed control and lowered the price. 

This area will probably be the first significant test for buyers if Dogecoin makes an effort to continue its recovery. The continuous pattern of lower highs that has characterized the asset’s downtrend would be strengthened if $0.11 is not broken.

Cardano has taken a major leap as LayerZero officially integrated the network, connecting it to over 160 blockchains. For years, Cardano operated largely in its own ecosystem, but this move opened the doors to major networks like Ethereum, Solana, and Aptos.

The development marks the largest interoperability rollout in Cardano’s history, shifting its position from a standalone chain to a fully connected player in the broader crypto ecosystem.

After announcing the integration last month, Cardano founder Charles Hoskinson expressed his excitement by sharing a smiling GIF, signaling that his long-awaited vision is finally coming to life.

LayerZero x Cardano: What it Unlocks?At the core of this expansion is LayerZero’s Omnichain Fungible Token (OFT) standard. This allows more than 700 existing tokens to expand directly onto Cardano, while giving developers access to over $90 billion in cross-chain liquidity already active within the LayerZero ecosystem.

For users, this means assets and applications can move across chains more freely. For developers, it opens access to a much larger pool of capital and infrastructure that was previously out of reach.

Cardano’s architecture, built on the eUTXO model, has always stood apart from EVM-based chains. While this brought benefits like predictable fees and parallel transaction processing, it also created compatibility challenges. LayerZero now bridges that gap, allowing Cardano to “speak” with the rest of crypto.

ADA Market SnapshotAt the time of writing, ADA trades around $0.29 with daily volume near $535 million. The token has seen mild short-term movement, with slight gains over the past day despite minor hourly dips.

With a circulating supply of over 36 billion tokens and a capped supply of 45 billion, Cardano remains one of the largest blockchain networks by market presence, now backed by stronger cross-chain access.

Will Liquidity Follow?While the infrastructure is now in place, actual growth depends on adoption. Token issuers must choose to deploy on Cardano, developers need to build applications, and users must shift activity toward the network.

Historically, similar integrations across crypto have delivered mixed outcomes. Access alone doesn’t guarantee usage, especially when ecosystems like Ethereum and Solana already dominate decentralized finance activity.

Still, the removal of long-standing barriers gives Cardano a fresh opportunity to compete on a more level playing field.

A New Phase for CardanoThis integration changes the narrative. Cardano is no longer operating in isolation; it is now part of a multi-chain environment where liquidity, assets, and applications can move across networks.

Whether this translates into real growth will depend on execution, but structurally, one of Cardano’s biggest limitations has now been addressed.

Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQsWhat does LayerZero integration mean for Cardano?

LayerZero connects Cardano to 160+ blockchains, enabling seamless cross-chain transfers of assets and data, making it more competitive in DeFi.

How does LayerZero improve Cardano interoperability?

It bridges Cardano with networks like Ethereum and Solana, allowing tokens and apps to move across chains without complex conversions.

Will LayerZero bring more liquidity to Cardano?

It opens access to $90B+ liquidity, but actual growth depends on developer adoption, token launches, and user activity.

Why is this integration important for Cardano’s future?

It removes isolation, positioning Cardano in the multi-chain ecosystem and giving it a stronger chance to grow in DeFi and Web3.

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On-chain data shows the Bitcoin short-term holders have responded to the latest price rally by participating in profit realization.

Bitcoin Short-Term Holders Have Shown A Realized Profit Spike In a new post on X, on-chain analytics firm Glassnode has talked about the latest trend in the Realized Profit for the Bitcoin short-term holders. The Realized Profit here refers to an indicator that measures, as its name suggests, the total amount of profit being harvested by BTC investors through their transactions.

The metric works by going through the transfer history of each coin being moved on the network to see what price it was transacted at prior to this. If the previous selling price was less than the latest spot price for any token, then that particular coin’s current transaction is leading to the realization of some net gain.

The exact degree of profit involved in the move is naturally equal to the difference between the two prices. The Realized Profit adds up this difference for all profitable moves on the blockchain.

In the context of the current topic, the Realized Profit of only a segment of the market is of interest: the short-term holders (STHs). This group includes the BTC investors who purchased their coins within the past 155 days.

The STHs are generally considered to represent the fickle-minded side of the market, with its members tending to show some reaction whenever market volatility emerges. During the last few days, Bitcoin has seen a recovery surge beyond the $74,000 level and it would appear that the STHs have reacted to it as well.

How the Realized Profit of the BTC STHs has changed over the last few months | Source: Glassnode on X As displayed in the above graph, the 12-hour moving average (MA) of the Bitcoin STH Realized Profit spiked to a value of $18.4 million per hour alongside the price rally. Since the profit-taking spree has arrived, the cryptocurrency’s surge has stalled. “Consistent with the pattern observed over February, where short-term holders continue to exhaust each rally at the +$70k level, absorbing momentum before any breakout can develop,” explained Glassnode.

It now remains to be seen whether Bitcoin can overcome the profit realization pressure from the STHs this time around or if the rally’s fate will be similar to other recent attempts at recovery.

In some other news, the crypto Fear & Greed Index has just returned to the fear territory, breaking a long streak of extreme fear in the market.

Looks like the index has a value of 28 | Source: Alternative The uplift in sentiment suggests that the price rally has renewed some degree of optimism among traders, although with the index still at a value of 28, the market mood remains quite bearish.

BTC Price Bitcoin broke above $75,000 during the price surge, but it has since returned to $74,300.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView Featured image from Dall-E, chart from TradingView.com

Brazil is rapidly emerging as a central pillar of Ripple’s global expansion strategy, as the firm rolls out a full-stack blockchain financial infrastructure and sees growing adoption of its stablecoin, RLUSD, and native token, XRP, across the country’s financial sector.

On March 17, the company announced that Brazil would host one of its biggest blockchain rollouts. 

Ripple builds a full blockchain platform for banks and fintech companies in Brazil Ripple sees Brazil as a natural place to set up shop and expand its blockchain services, given the country’s large financial system and its faster-than-any-other-region adoption of digital payments.

Millions of people and businesses in Brazil use digital payments for everyday transactions, and the country is also a safe haven for startups and financial tech companies building apps for payments, lending, digital banking, and cross-border transfers. Additionally, the country has clear rules on digital assets and crypto services that make it easier for companies to test new financial tools freely. 

Similarly, Pix, the Central Bank’s instant payment system, is among the most widely used worldwide and has encouraged people and businesses to trust digital payments more.

These are just a few of the major reasons Ripple believes Brazil is a gateway to the entire Latin American region, and the company’s president highlighted this opportunity during discussions about its strategy in Latin America. 

“Latin America has always been a priority market for Ripple — not just because of the scale of the opportunity, but because Brazil has built one of the most advanced and forward-thinking financial ecosystems in the world.”

To support this vision, Ripple is introducing a new blockchain platform that integrates Ripple Payments, Ripple Custody, the RLUSD stablecoin infrastructure, Ripple Prime brokerage services, and Ripple Treasury tools. 

The company will combine these tools to enable financial institutions, such as banks, to manage the entire digital asset lifecycle in one place, rather than using multiple vendors for each task. 

Several financial institutions, such as Banco Genial, Braza Bank, Nomad, Azify, Attrus, and Frente Corretora, have already started using Ripple’s infrastructure to improve liquidity across the financial system.

Moreover, the company invested heavily in acquisitions and infrastructure upgrades over the past few years to facilitate its move into Brazil. Ripple acquired corporate treasury infrastructure company GTreasury, prime brokerage platform Hidden Road, custody and treasury automation technology company Palisade, and Rail, a platform that allows users to hold and exchange fiat currencies and stablecoins.

These acquisitions allow Ripple to build a complete blockchain financial system in Brazil by combining payments, custody, brokerage, treasury management, and stablecoin services, positioning the country as a major center for blockchain finance in Latin America.

RLUSD and XRP boost crypto payments and liquidity in Brazil Ripple’s RLUSD stablecoin and the XRP token will also become major tools for crypto payments across Brazil as more financial institutions connect to the company’s systems.

In some countries, like Brazil, local currencies experience price swings, so many people and businesses prefer stablecoins, such as RLUSD, because they aren’t affected by delays in traditional banking systems. 

A number of crypto platforms and financial institutions in the country, including Foxbit, Mercado Bitcoin, Ripio, Attrus, Banco Genial, and Braza Bank, have started incorporating RLUSD into their systems, broadening the stablecoin’s availability across the region.

However, some people have raised concerns about RLUSD’s impact on XRP, as market watchers believe the stablecoin could eventually replace XRP.

Yet, experts in the XRP Ledger community explain that stablecoins and XRP work differently to support each other inside the Ripple network, rather than compete for resources. 

For example, Brazil’s Braza Bank issued its BBRL stablecoin on the XRP Ledger, meaning the network uses XRP as a bridge asset when users exchange BBRL for other currencies or assets. This structure highlights how stablecoins provide price stability as they represent real currencies, while XRP provides liquidity by connecting different markets and currencies together. It also shows how stablecoins and XRP complement each other to enable the network to process payments quickly across borders.

Interestingly, when Ripple announced its expansion into Brazil, XRP surpassed Binance’s BNB in market capitalization and became the fourth-largest cryptocurrency in the world, trading at around $1.51, up roughly 8.5 percent from the previous week. The token even reached a $1.60 earlier this week while BNB saw smaller gains during the same period, indicating rising interest in Ripple’s ecosystem.

Similarly, data from CoinGlass shows open interest in XRP derivatives rose to around $2.82 billion, indicating stronger conviction among traders as more investors place bets on future price movements.

Ripple also wants to apply for a Virtual Asset Service Provider license from the Central Bank of Brazil to expand its services across the country while meeting the regulatory standards required of financial institutions.

Ripple’s relationship with Brazil began in 2020, when the company explored opportunities to support digital financial infrastructure in the country, and continued in 2024, when it launched its payment services in Brazil through a partnership with Mercado Bitcoin.

Vitalik Buterin just announced that Ethereum is rolling out a protocol improvement that slashes deposit times from minutes to roughly thirteen seconds. Whether that counts as a breakthrough depends on who you ask.

If you have ever moved funds from Ethereum to another network or a centralized exchange, you know the wait. Minutes of watching a transaction process, capital locked in transit, nothing to do but refresh. It is one of the most persistent frustrations in crypto, and it has quietly pushed users toward faster competing chains.

According to a new X post by an Ethereum developer, the network is now close to fixing it.

A new protocol improvement called the Fast Confirmation Rule, or FCR, is currently being implemented by Ethereum’s consensus layer client teams.

Once live, it will reduce deposit times from Ethereum’s main network to Layer 2s and centralized crypto exchanges from anywhere between two and thirteen minutes down to approximately thirteen seconds. This marks an 80 to 98% reduction depending on the destination. No hard fork is required. As soon as a client implements FCR, nodes run it automatically.

The developments come amid rising bullish outlook for ETH.

Ethereum’s Biggest UX Fix in Years – What Changes and For Whom The improvement will most immediately be felt by three groups.

Centralized exchanges, which currently make users wait for multiple block confirmations before crediting deposits, will be able to credit funds in roughly thirteen seconds.

Layer 2 networks like Arbitrum and Base will see faster deposits and less capital locked up in bridging. And the solvers and bridges that move assets across the ecosystem will be able to operate with better risk management and lower costs.

Vitalik Buterin, Ethereum’s co-founder, in an X post described FCR as providing “a hard guarantee that Ethereum will not revert after one slot,” calling it “very strong for many use cases.”

The Ethereum Strawmap, introduced recently by Vitalik Buterin, also lays out seven projected protocol forks through 2029, targeting faster finality, higher throughput, native privacy, and post-quantum cryptography.

Why It Matters Now Ethereum has faced sustained competitive pressure from faster chains. Solana’s speed advantage has been a consistent talking point as users and developers weigh their options.

FCR does not make Ethereum as fast as Solana. But it meaningfully closes the gap for the most common everyday action in the ecosystem of moving funds.

Equally notable is how FCR is being shipped. The absence of a hard fork signals a quieter, more mature version of Ethereum’s development process, one that can deliver meaningful upgrades through client implementation rather than ecosystem-wide coordination battles.

Rollout is expected over the coming months. Ethereum’s researchers are actively working with exchanges, L2s, and solvers to ensure smooth adoption.

Where Vitalik Buterin’s Argument Falls Apart It appears that what Buterin called a ‘hard guarantee’ is, in practice, neither hard nor guaranteed.

Critics are not convinced the framing matches the reality. Within hours of Vitalik Buterin’s post, prominent voices on crypto Twitter pushed back hard on the word “guarantee.”

FCR sits one step below Ethereum’s full economic finality, something Vitalik Buterin himself acknowledged. It rests on two assumptions that critics argue are shakier than they appear.

The first is that a supermajority of validators remain honest. Lido alone controls roughly 24% of all staked ETH. Meanwhile, the top four staking entities collectively control over 50% of the network.

“You can’t claim decentralization when half the network is controlled by four entities,” the critic said. FCR’s security threshold assumes no single adversary controls more than 25% of staked ETH, a threshold Lido is already approaching.

The second assumption is that global network latency stays under approximately three seconds. However, validator nodes span every continent, making latency spikes, DDoS attacks, and minor network partitions real-world possibilities.

Under the worst conditions, FCR falls back to Ethereum’s full finality time of around thirteen minutes.

“Celebrating conditional 12-second optimistic confirmations as a breakthrough in 2026 is like celebrating dial-up speeds when fiber has been standard for years,” the critic wrote.

Bitcoin

SOPA Images/LightRocket via Getty Images

The term “bitcoin treasury company” has become one of this cycle’s defining phenomena, but the label now covers a wide range of very different business models. As of March 2026, public companies collectively hold more than 1.13 million BTC, roughly 5.4% of the total supply, valued at about $84 billion at current prices of around $74,000 per bitcoin.

Firms grouped under this term often follow very different financial strategies. The label is increasingly misleading, as Jeff Walton, Chief Risk Officer at Strive, says “They are just companies that hold bitcoin, they all do different things.”

Some simply hold bitcoin as a reserve asset, while others are beginning to explore capital markets strategies, issuing equity or debt to increase bitcoin exposure per share. Cory Klippsten, CEO of financial technology company Swan Bitcoin said: “If you don’t have leverage, you aren’t in the game.”

Strategy, formerly MicroStrategy, dominates the sector with about 761,068 BTC, though the model has already shown strain. Bitcoin’s pullback from its 2025 highs pushed many firms into NAV discounts, with mNAV multiples falling below 1x as market values slipped below the value of their bitcoin holdings. Smaller treasury companies have traded between 10% and 75% below the bitcoin on their balance sheets. When bitcoin briefly fell below $65,000 in February 2026, billions in paper value vanished and vulnerabilities in some of these models began to show.

Not all companies approach capital structure and risk in the same way, however. As Roy Kashi, CEO of FalconEdge, a capital markets advisory firm, said “We are highly disciplined in how we approach capital formation, with a clear focus on long term shareholder value per share rather than maximising balance sheet size.”

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How The Bitcoin Treasury Model BeganStrategy’s approach began simply, as the company used spare cash to buy bitcoin instead of holding dollars. Investors who bought the shares gained exposure to bitcoin through the company’s balance sheet. As bitcoin became the best performing asset of the decade and institutional adoption accelerated, allocating spare corporate cash to it began to look less like speculation and more like a treasury decision.

As the idea gained attention, other companies began adopting variations on these treasury strategies. In some cases the concept moved beyond simply holding bitcoin on the balance sheet. Companies began raising additional capital through new shares, debt and other financial instruments in order to acquire more bitcoin. Some treasuries add further leverage by using bitcoin holdings as collateral for loans or credit facilities, to access cash without selling assets, though this heightens liquidation risks in downturns.

Photo by Silas Stein

dpa/picture alliance via Getty Images

Supporters of these models argue that the structure itself is designed to reshape risk exposure. As Walton described it, “Preferred perpetual equity is the product, we are trading a low volatility product for the market.”

The result is a form of financial engineering designed to amplify bitcoin exposure. In a rising market this can magnify returns, but it also adds layers of complexity and risk that ordinary investors may not immediately see. At its core, the model is a question of risk. As Walton noted, “Sizing risk is the biggest decision in financial markets.”

In these structures, risk extends beyond bitcoin’s price to how capital is raised, structured and deployed.

Understanding Direct Bitcoin ExposureThe simplest thing someone can do is own bitcoin directly. You buy it, hold it and your exposure is simply the price of bitcoin rising or falling.

The next layer involves owning shares in a company that holds bitcoin on its balance sheet. In that case investors gain exposure to bitcoin through the company’s treasury, but their investment is now influenced by more than the price of bitcoin alone. Shareholders are also exposed to management decisions, capital allocation choices and the financial structure of the company itself.

When Capital Structures Enter The EquationThings become more complex when companies begin raising additional capital specifically to acquire more bitcoin. Rather than relying solely on operating profits, these companies raise funds through equity issuance, debt or structured instruments in order to expand their bitcoin holdings. Advocates argue that, if executed well, this can increase the amount of bitcoin backing each share, but the outcome depends heavily on capital markets conditions and how the strategy is managed.

At its simplest, the model can function as a financial flywheel:

• The company raises capital from investors
• That capital is used to purchase bitcoin
• If markets are supportive, the share price may trade at a premium to the value of the bitcoin held on the balance sheet
• That premium allows the company to raise additional capital and purchase more bitcoin

As long as that premium persists, the cycle can continue. If it disappears, the dynamic changes significantly. Issuing new shares becomes dilutive, raising capital becomes more expensive and the ability to continue expanding the balance sheet slows.

Preferred Shares And Structural TensionsAnother layer of complexity comes when companies begin issuing preferred shares or other structured instruments designed to raise additional capital. Preferred shares typically attract investors because they promise a dividend, but in most jurisdictions dividends cannot simply be paid from investor capital. In England & Wales, for example, dividends can only be funded from realised profits available for distribution. This requirement makes it much harder for UK incorporated companies to follow Strategy’s lead in pursuing the issuance of perpetual preferred shares.

For traditional operating businesses this is straightforward, revenue is generated, profits are realised and dividends can be paid. For companies primarily accumulating bitcoin, the situation is very different, as profits may only exist if bitcoin is sold.

That creates a structural tension for pure treasury companies. The strategy depends on holding and accumulating bitcoin, while the income mechanism for preferred shareholders ultimately depends on selling it.

Until profits are realised, any dividend remains uncertain rather than dependable. Selling bitcoin at a loss may create liquidity, but it does not generate the profit required to support a dividend and may make the problem worse.

These strategies also depend heavily on continued access to capital markets. Many treasury companies rely on their shares trading at a premium to the value of the bitcoin they hold. When that premium exists, new shares can be issued with limited immediate dilution and the proceeds used to purchase additional bitcoin. If the premium disappears, dilution increases and the ability to raise capital slows.

Some companies introduce another layer of risk by operating with minimal underlying business activity. In these cases the company functions less like a traditional operating business and more like a vehicle designed primarily to raise capital and convert that capital into bitcoin exposure. When this occurs, executive salaries and corporate expenses may be funded largely from investor capital rather than from productive business activity.

Bitcoin treasuries differ from direct ownership, combine bitcoin exposure with corporate and capital structure risk. Investors must distinguish profitable firms holding BTC reserves from capital vehicles and understand the structured risks to avoid hype pitfalls.

Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images

SOPA Images/LightRocket via Getty Images

In some cases the underlying operating business is relatively small compared with the scale of the capital being raised for treasury activity, meaning the company begins to resemble a capital vehicle built around bitcoin rather than a traditional operating business that happens to hold it.

None of this necessarily means the model is unsound. Financial engineering can amplify returns in rising markets and some companies may execute these strategies successfully. What matters is that investors understand the distinction between the asset and the structures built around it, and the different laws of various jurisdictions which may support or prevent the issue of instruments with guaranteed rights to payouts.

Bitcoin Versus Corporate Bitcoin ExposureOwning shares in a bitcoin treasury company introduces additional layers of corporate governance, leverage, dilution risk, capital markets dependence and management execution. These structures may provide exposure to bitcoin, but they are not the same thing as bitcoin itself.

None of this means the risks described here are inherently problematic or that companies should avoid holding bitcoin on their balance sheets. For many firms with profitable operating businesses and surplus cash reserves, allocating a portion of treasury assets to bitcoin may be a rational decision given the asset’s performance over the past decade and growing institutional adoption. The key question is how that exposure is structured and whether investors understand the financial mechanisms behind it.

A profitable company that holds bitcoin as a reserve asset is fundamentally different from one whose primary activity revolves around raising capital and issuing financial instruments to expand a bitcoin treasury. In the U.S., Strategy and Strive are well known examples of leveraged Bitcoin equities, where the model centres on raising capital through financial instruments to maximise bitcoin per share, setting them apart from miners or firms with incidental BTC holdings.

Both approaches may exist legitimately within capital markets, but they represent very different forms of exposure and risk.

For that reason, the term “bitcoin treasury company” may be one of the most misleading elements of the current narrative. It is increasingly used to describe strategies that share little beyond the presence of bitcoin on the balance sheet, grouping fundamentally different business models under a single label.

The ambiguity becomes clear when pushed to its logical conclusion. If a small business began accepting bitcoin for payments and retained those holdings, would that also qualify? If so, the term risks becoming so broad that it loses meaning entirely.

Bitcoin is a single asset with fixed supply and transparent rules. The corporate structures built around it are not, and the risks they introduce can differ significantly from owning bitcoin itself.

For investors, it's not the label, it's the structure that matters.

After gaining more than 100% since its all-time low, PI has now dumped by almost 50% from its local peak.

Although it was completed several days ago, the Core Team behind the controversial project announced the migration earlier today, solidifying the successful upgrade to version 20.2.

They reasserted that the new protocol version should be groundbreaking for the project as it provides the foundations to eventually enable smart contract capabilities. However, even this big news couldn’t halt PI’s free-fall.

V20.2 Arrived The past month has been quite eventful for Pioneers as the Core Team made several key protocol upgrades even before the aforementioned one. At first, they announced the successful migration to v19.6 on February 20, followed by v19.9 on March 4.

All eyes turned to March 12, which was the new deadline for the implementation of v20.2. It was the most important one from this year. In a post on X from hours ago, the team said: “All major Pi nodes have now been upgraded to version 20.2 and are supporting protocol 20.”

It’s worth noting that the team actually completed the migration within the original timeframe, as hinted in their Pi Day celebratory post from the weekend. However, the post now provides more information on what Pioneers can expect, especially since Pi Network has upgraded its Mainnet blockchain to protocol 20. The latest version is a major step toward the network’s goal to have smart contract capabilities, as explained in the post:

“Protocol 20 provides the foundation to enable smart contract capabilities, and the rollout of smart contracts will occur gradually, prioritizing categories that align with utility-based product innovation and operations. The specific types of smart contracts featured will depend heavily on the needs arising from the utility creation process.”

PI Drops Yet Again Perhaps driven by the initial updates, PI’s price went on a roll in late February/early March. This rally received a major boost when the major US crypto exchange Kraken announced that it would list it for trading on March 13. The effects were immediate as PI skyrocketed by double digits from around $0.20 to almost $0.30.

After hitting a five-month peak, though, the reality set in as it turned out to be another classic sell-the-news event. PI nosedived on the next day toward the $0.20 support, which gave in yesterday. The situation has only worsened in the past 12 hours, as the token has dumped to under $0.175, thus dropping by almost 50% in just a few days.

You may also like: Bitcoin (BTC) Plunges Before the FOMC Meeting, Pi Network (PI) Soars by 15%: Market Watch PiScan data shows that the number of tokens to be released in the next month would be rather negligible compared to what it was in February and early March. Aside from March 20, when almost 16 million coins will be unlocked, the rest of the month will see numbers below 4 million.

Pi Token Unlock Schedule. Source: PiScan Tags:

XRP is trading around $1.50, putting it just above a heavily watched options strike at $1.40 on Deribit, one of crypto's largest derivatives exchanges. This level has drawn significant attention from traders, and its importance could shape XRP's near-term price movement as the March 27 expiry date draws closer.

Options contracts give traders the right — but not the obligation — to buy or sell an asset at a predetermined price before a specific date. Call options typically reflect bullish sentiment, while put options are used to hedge against or profit from price declines. At the $1.40 strike, roughly $6.95 million in call positions and $7.69 million in put positions are currently open, bringing total open interest at this level to approximately $14.6 million. That figure represents nearly 25% of all XRP options activity on Deribit, an unusually high concentration at a single strike price.

This kind of clustering often signals that the market is approaching a pivotal decision point. As expiry nears, the $1.40 level could act as a gravitational zone — a phenomenon traders call "pinning." Market makers and traders who are short gamma may dynamically hedge their positions, creating buying or selling pressure that pulls XRP's spot price toward that strike. A similar dynamic is commonly observed in major forex pairs like EUR/USD when large option strikes are in play.

The stakes around this level are straightforward. If XRP holds above $1.40 through expiry, a large portion of the put-side contracts could expire worthless. If the price slides below it, hedging activity could amplify selling pressure and accelerate the move downward. With such a dense concentration of open interest tied to a single strike and a single expiry date, the $1.40 level deserves close attention from anyone tracking XRP's price in the days ahead.

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The latest XRP vs LINK clash erupted after Zach Rynes took direct aim at the XRP Ledger, calling it an “obsolete ghost chain.” His remarks didn’t stop there; he dismissed XRP’s long-standing role as a global bridge asset and pointed to weak traction in tokenized assets, noting XRPL holds less than 1% of the RWA market and under 0.01% of stablecoin supply.

This struck at the core of XRP’s narrative, instantly triggering a strong reaction from its community and turning a long-standing rivalry into a fresh social media war.

The situation intensified when Rynes linked XRP to Ripple’s corporate strategy. Following Ripple’s $750 million share buyback, he argued that XRP sales are being used to fund company growth, acquisitions, and equity buybacks, raising questions about whether token holders gain from this structure.

He framed it by saying: owning XRP may mean funding a company that prioritizes shareholders over token holders. That argument quickly spread across crypto Twitter and drew sharp reactions.

XRP Voices Push Back StronglyRipple CTO David Schwartz responded by calling the criticism logically flawed. He reiterated that XRP sales are part of a long-term, pre-disclosed distribution strategy and added that price drops from such sales can allow investors to accumulate at lower levels.

Attorney Bill Morgan accused Rynes of having an “unhealthy obsession with XRP,” rejecting the narrative that XRP holders are sidelined in Ripple’s growth.

XRPL validator Vet framed the backlash as frustration from the Chainlink side, while also defending XRPL’s native order book and automated market maker features.

Community voice xrpmickle delivered one of the sharpest counterattacks, claiming LINK has no economic necessity. He argued that Chainlink’s oracle network does not depend on the LINK token and called it “ETH-issued vaporware,” stating that even if LINK disappeared, the network would continue operating.

Chainlink Voices Fire BackRynes stood firm, calling Ripple’s defense “elite tier gaslighting” and maintaining that XRP holders do not share in the company’s upside. He argued that proceeds from XRP sales are used for acquisitions, product development, and stock buybacks that benefit Ripple’s equity holders.

Crypto analyst Fishy Catfish reinforced this stance, stating that Ripple sells XRP to fund itself while Chainlink generates revenue from its protocol and uses it for LINK buybacks, reportedly around $1.1 million weekly.

Meanwhile, on the other hand, Rynes also accused an XRP influencer of copying a Chainlink partnership graphic, originally featuring integrations with SWIFT, DTCC, Visa, and Mastercard, and replacing the branding with XRP, calling it misinformation driving retail speculation.

A Rivalry That Goes Back YearsRynes traced the roots of this feud to 2019, tied to competition over institutional adoption. XRP supporters point to Ripple’s scale, including over $100 billion in processed transactions and growing ETF inflows nearing $1.44 billion.

On the other side, Chainlink supporters point to integrations with major financial players such as SWIFT, DTCC, and JPMorgan Chase.

Crypto voice Andres added that Ripple operates as a private company raising capital through equity, while XRP functions as a liquidity asset, separating the two roles.

Meanwhile, Juxa Meta offered a balanced take, stating that Chainlink currently shows stronger alignment between protocol activity and token value, while Ripple brings scale and established presence in payments.

Not Direct Rivals—Yet the War ContinuesDespite the intensity, both projects operate in different sectors. Chainlink focuses on data, oracles, and interoperability, while XRP is built for payments and settlement. In fact, Ripple’s RLUSD stablecoin already uses Chainlink price feeds.

Even Brad Garlinghouse and Sergey Nazarov have appeared publicly on good terms, something their communities don’t reflect.

Having said that, despite the feud, the fact remains that XRP holds a significantly larger valuation at $91 billion compared to LINK’s $7 billion, marking a 13x gap between the two. Whereas LINK remains further from its peak, down 81% from its all-time high, while XRP sits relatively closer with a 59% decline.

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