Market Signal Briefing

Upexi prepares a $23M private placement as its Solana treasury strategy faces volatility and shares extend a multi-week decline.

Izabela Anna2 min read

26 November 2025, 08:30 PM

Upexi is preparing for new financing as its Solana-focused treasury strategy meets sharp market swings. The Nasdaq-listed company plans to raise up to $23 million through a private placement. The timing comes as both the crypto market and Upexi’s share price face heavy turbulence. 

The company aims to reinforce its balance sheet and sustain its long-term Solana approach while navigating an extended downturn. The financing structure combines new equity and warrants, offering flexibility for future capital inflows.

Private Deal Priced Above Market LevelsAccording to the press release, Upexi entered a securities purchase agreement with a single institutional investor for 3,289,474 shares and matching warrants. The combined price of $3.04 sits above the recent at-the-market level. Each warrant carries a $4.00 exercise price and a 48-month window. 

The structure allows the company to secure $10 million upfront and an additional $13 million if all warrants convert. Consequently, the deal strengthens liquidity for operations, portfolio allocation, and its internal Solana return strategy. Additionally, Upexi plans to register the new securities with the SEC soon after closing.

The company highlighted that the pricing aligns with its internal net-asset-value calculation. That benchmark includes a fully loaded Solana measure that often influences its capital planning. Hence, the premium indicates confidence in its long-term digital asset positioning.

Solana Treasury Remains Central to Corporate StrategyUpexi holds more than 2 million SOL, making it one of the largest public corporate holders. Management continues to center the business around long-term Solana exposure. Moreover, the firm views its treasury as a strategic asset during volatile periods. 

The approach focuses on maximizing returns through internal management rather than outsourced structures. Market fluctuations have created both risk and opportunity for the company as Solana trading volumes remain elevated.

Source: Google Finance

Upexi shares traded around $2.78 after a sharp intraday drop. The price fluctuated between $2.68 and $2.80 during the session. The stock remains under pressure following a steep one-month decline. 

Upexi fell more than 43% over that period, sliding from above $4.80. The chart shows persistent lower highs and lower lows. Additionally, brief rebounds failed to reverse the broader trend. Weak sentiment and reduced risk appetite continue to weigh on the stock.

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Izabela Anna

Izabela Anna is a knowledgeable freelance journalist, who boasts over five years of experience covering the cryptocurrency market. Her tenure has seen her navigate through the ebbs and flows of multiple market cycles, giving her a deep understanding within. Her journalistic focus lies in dissecting price action dynamics, scrutinizing the on-chain landscape, and providing insights from a technical perspective, making her a trusted voice in the realm of cryptocurrency reporting.

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Latest Solana (SOL) News Today

According to the data provided by Ripple Stablecoin Tracker, Ripple has minted another 10 million RLUSD on the XRP Ledger. 

According to the data provided by CoinGecko, the market cap of RLUSD currently stands at $1.26 billion. 

Steady minting On Oct. 22, the treasury executed a substantial mint of 24.5 million RLUSD. Just six days later, on Oct. 28, another 5 million RLUSD entered circulation, followed within three days by an even more notable issuance: 36 million RLUSD on Oct. 31. 

HOT Stories

November took that trajectory and pulled it sharply upward. On Nov. 3, Ripple minted a massive 50 million RLUSD, coinciding with the moment RLUSD officially crossed the $1 billion market cap threshold across Ethereum and the XRP Ledger. 

The activity didn’t taper off. On Nov. 19, an additional 2 million RLUSD was minted. And most recently, on Nov. 25, the treasury produced a large 15 million RLUSD mint. 

Moving up the rankings Ripple’s RLUSD has quietly but decisively slipped into the stablecoin big league. 

With a market cap of roughly $1.25 billion, it now sits in the same statistical neighborhood as long-established mid-tier dollar tokens.

The global stablecoin landscape is brutally top-heavy: USDT and USDC dominate with a combined $260 billion in capitalization.

There is also a second tier of multi-billion-dollar entrants (USDS, Ethena’s USDe, DAI, PYUSD) that are perceived as formidable competitors. 

RLUSD has not yet joined that second tier, but it now anchors the very top of the third tier. At rank #84, it has overtaken dozens of legacy stablecoins that once defined the market’s mid-section, including TUSD, GUSD, and USDD.

RLUSD is now positioned as the 12th-largest USD stablecoin globally.

Regulation

Coinbase, Crypto.com and Kraken Join FCA Sandbox in UK’s Crypto Rule Expansion

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Solana News

Franklin Templeton Reveals Solana ETF Plans as Inflows Hit $621 Million

TL;DR Franklin Templeton is launching a Solana ETF with the lowest fee in the market and a full fee waiver on the first $5 billion

Dogecoin News

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TL;DR Grayscale’s Dogecoin ETF launch volume fell 90% below analyst projections. Rival XRP and Solana ETFs demonstrated significantly stronger investor demand. Bitwise launches a competing

Bitcoin News

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Bitwise CIO: Crypto Treasury Firms Will Face Structural Discounts

Matt Hougan, Chief Investment Officer at Bitwise, stated this Sunday on X that most digital asset treasury (DAT) companies will trade at a discount to

Solana News

Vector Joins Coinbase: Solana Memecoin Platform Snapped Up in Strategic Deal

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Dogecoin breaks out of inverse H&S, targeting a major move. ETF launch and whale activity show mixed signals as short-term trend shifts bullish.

Dogecoin (DOGE) is trading around $0.152, up 2% in the last 24 hours, but down 5% over the past 7 days, according to CoinGecko.

Analysts tracking short-term market structure point to a potential shift, with technical patterns now favoring continued upside.

Pattern Breakout Sets Target at $0.179
A 4-hour chart posted by Trader Tardigrade shows Dogecoin breaking out of an inverse head-and-shoulders pattern. The chart marks a left shoulder, a lower low forming the head, and a higher low as the right shoulder. A downward-sloping neckline connected the highs between them.

DOGE moved above this neckline in the $0.151–$0.153 range, which confirmed the pattern breakout. The estimated move from this setup is around 18%, putting the target near $0.179. The neckline now acts as support. The pattern remains valid as long as the price holds above it.

$Doge/4-hour

The inverse head and shoulders pattern for #Dogecoin just broke out 🔥

Targeting an 18% gain ✍️ pic.twitter.com/1VHvvSB4dY

— Trader Tardigrade (@TATrader_Alan) November 26, 2025

After the breakout, the asset pulled back and successfully retested the trendline. Since then, Dogecoin has been forming higher highs (HH) and higher lows (HL) on the 4-hour chart. This structure often shows buyers taking control.

If this pattern continues, the trend could push higher toward the projected target. As long as DOGE stays above its recent HL, traders may see continued short-term momentum.

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Price Moves Within Rising Channel
Another chart shared by Kamran Asghar shows DOGE moving within a rising price channel. It has been holding above the 21-period EMA, which has served as dynamic support.

Kamran noted,

“Momentum holding above EMA keeps bulls in control.”

The measured move shown on his chart points to a possible upside toward $0.16 if the channel breaks to the upside. A move below the channel would break the current structure.

ETF Launch and Whale Wallet Activity Send Mixed Signals
The Grayscale’s GDOG ETF, which offers exposure to Dogecoin, recorded $1.41 million in first-day volume but no net inflows. Analyst Eric Balchunas had expected as much as $12 million. The results suggest limited institutional demand on launch. In addition, Bitwise announced that its own Dogecoin ETF, $BWOW, will begin trading today.

Wallet data also shows split behavior. As we recently reported, wallets holding 10 million to 100 million DOGE reduced their holdings by around 7 billion coins, dropping from over 24 billion to 17.17 billion in a month. This came during DOGE’s drop from $0.27 to $0.143.

Meanwhile, wallets holding 100 million to 1 billion DOGE added around 4.72 billion coins, worth an estimated $770 million. While some large holders sold or moved coins, others increased their exposure.

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The Pentagon has concluded that Alibaba Group Holding , Baidu Inc and BYD Co should be added to a list of companies that aid the Chinese military, Bloomberg News reported on Wednesday.

Kingfisher plc (OTCQX:KGFHY) Q3 2026 Sales Call November 26, 2025 9:00 AM EST

Company Participants

Richard Joyce
Shaun Curtis

Conference Call Participants

Hannah Crowe - Equity Development Limited

Presentation

Hannah Crowe
Equity Development Limited

Good afternoon and thank you to those of you who are joining us today to hear from the team at Kingfisher plc [indiscernible]. If you haven't seen this already, find an updated note on our website at Equity Development. But the purpose of today is to take you through the investment story as it stands and then take Q&A at the end. [Operator Instructions]

But for now, I will hand over to the team to take you through the presentation.

Richard Joyce

Thank you very much, Hannah, and good afternoon, everyone. Thank you for joining us today for Kingfish's retail investor presentation. So my name is Richard Joyce. I am Kingfisher's Interim Head of Investor Relations, and I'm here today with Sean Curtis, our Investor Relations Manager And together, we're going to take you through our H1 results, our Q3 date, our outlook for the year and provide you an update on our key strategic initiatives. And following this presentation, we'll have a Q&A session to answer any questions that you might have.

So let me start with why we're here. We believe that a better world starts with better homes, and we strive to make this happen for our customers through our market-leading banners as we seek to deliver on our purpose of better homes, better lives for everyone. So turning now to an overview of Kingfisher's attractive investment story, which drives our medium-term financial priorities and our outlook. We have #1 or #2 leading positions in our markets. And those markets are large, they're worth GBP 160 billion combined and have attractive and structural growth drivers.

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Wall Street extended its winning streak to four consecutive sessions on Wednesday, with the Dow Jones Industrial Average climbing over 400 points by midday and the S&P 500 and Nasdaq Composite both gaining ground.

November 26, 2025 14:19 ET

 | Source:

Teck Resources Ltd

Recommendations Highlight Significant Benefits and Value Creation Opportunity for Teck Shareholders

Teck’s Board of Directors Unanimously Recommends Teck Shareholders Vote “FOR” the Merger TODAY

VANCOUVER, British Columbia, Nov. 26, 2025 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced that independent proxy advisory firms Institutional Shareholder Services, Inc. (“ISS”) and Glass Lewis & Co. (“Glass Lewis”) have recommended that Teck shareholders vote “FOR” the Company’s merger of equals (the “Merger”) with Anglo American plc (“Anglo American”). As previously announced, Teck has scheduled a special meeting of shareholders on December 9, 2025 (the “Meeting”).

In their reports dated November 26, 2025, and November 21, 2025, respectively, ISS and Glass Lewis stated:

ISS: “The arrangement makes strategic sense in light of the anticipated synergies, strategic benefits, and opportunity for additional upside through ownership in the combined company. The universe of potential buyers is limited, the board actively explored alternative transaction structures in order to maximize shareholder value, shareholders are expected to benefit from increased liquidity and stronger financial position for the combined company, and the market reaction has been positive.”
Glass Lewis: “Overall, the strategic merits of the combination appear well supported by the scale, asset quality and long-term copper growth profile of the combined company. If successfully executed, the merger positions Anglo Teck as a financially stronger and more resilient producer with meaningful upside from operational integration and future development opportunities...On balance, we believe the transaction presents a compelling strategic opportunity for Teck shareholders.” “The Teck Board has determined that a merger of equals with Anglo American is the best path forward for Teck shareholders and all stakeholders,” said Jonathan Price, President and CEO. “The recent recommendations from ISS and Glass Lewis further affirm this view. This merger is a unique opportunity to build a new global critical minerals champion headquartered in Canada with increased scale, a world-class portfolio of copper and critical minerals assets, and enormous growth potential. We are confident the transaction will drive significant value creation and encourage all Teck shareholders to vote for the merger.”

Teck Shareholders Encouraged to Vote Ahead of the Proxy Deadline
Teck shareholders of record as of the close of business on October 20, 2025, should vote “FOR” the Merger now and can advance vote up to the proxy voting deadline of 11:00 a.m. PST, December 5, 2025.

Teck’s notice of meeting, management information circular and other related Meeting materials have been mailed to shareholders and can also be accessed online on Teck’s website at www.Teck.com/reports and under Teck’s issuer profiles on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.

Any shareholder who has questions about how to vote should contact our proxy solicitation agents:

Shareholders Located in Canada

Laurel Hill Advisory Group
Toll-Free: 1-877-452-7184
Text Message: 1-416-304-0211
Email: [email protected]

Shareholders Located Outside of Canada

Innisfree M&A Incorporated
US Toll Free: 1-877-750-0510
Outside US: +1-412-232-3651
Banks and Brokers: 1-212-750-5833

The Merger, which was announced in September 2025, is subject to shareholder approvals and customary closing conditions, including approval under the Investment Canada Act and applicable competition and regulatory approvals in various jurisdictions globally.

Shareholder Support for the Merger
In addition to the unanimous support of the Teck Board of Directors, the Merger is supported by Temagami Mining Company Limited, SMM Resources Incorporated, Dr. Norman B. Keevil and the directors and executive leadership team of Teck, who have collectively agreed to vote shares representing approximately 79.8% of the issued and outstanding Teck Class A common shares and approximately 0.02% of the issued and outstanding Teck Class B subordinate voting shares (as of the record date for the Meeting) in favour of the Merger at the Meeting.

Forward Looking Statements
This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “can”, “could”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “predict”, “likely”, “potential”, “should”, “believe” and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this news release. These forward-looking statements include, but are not limited to, statements concerning the anticipated benefits and synergies from the proposed Merger, the expected effects of the Merger on Anglo American and Teck, future production levels, the expected timing of completion of the Merger, and other statements that are not historical facts.

These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general business and economic conditions, future outlook and anticipated events, such as the ability of Anglo American and Teck to complete the Merger, the ability of Teck and Anglo American to obtain all required regulatory and court approvals, the ability of Teck and Anglo American to obtain their respective shareholder approvals for the Merger, the ability of Teck and Anglo American to satisfy all other conditions to the Merger, the strategic vision of the merger between Teck and Anglo American following the closing of the Merger, expectations regarding exploration, production and operational potential, expectations with respect to production capabilities and future financial or operating performance of Teck and Anglo American following the Merger, expectations with respect to Teck’s current production and cost guidance and previously disclosed updates, the potential valuation of the merger of Teck and Anglo American, the expected synergies between Teck and Anglo American, the expected revenue from the synergies between Teck and Anglo American, expectations regarding integration and synergy capture; the accuracy of the pro forma financial position and outlook of Teck and Anglo American following the closing of the Merger, the success of the new board and management team, the satisfaction of the conditions precedent to the Merger, the future financial or operating performance of the merged Teck and Anglo American, the expected EBITDA uplift, the expectations around the headquarters of the combined entity being in Canada, the expectations of the results and success of the Investment Canada Act commitments, the expectations with respect to receiving Investment Canada Act approval, the assumptions surrounding the proposed Investment Canada Act commitments, the expectations with respect to the proposed investments by the combined company in Canada, the potential of Teck and Anglo American following the Merger to meet industry target, public profile expectations, future plans, projections, objectives, estimates and forecasts and the timing related thereto and the expectations surrounding the combined companies long-term strategy. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to vary materially.

Forward-looking information is based on the information available at the time those statements are made and are of good faith belief of the officers and directors of Teck and Anglo American as of the time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the Forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, the possibility that the Merger will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required regulatory, shareholder and court approvals and other conditions to the closing of the Merger or for other reasons, the risk that competing offers or acquisition proposals will be made, public perception of the Merger, market reaction to the Merger, the negative impact that the failure to complete the Merger for any reason could have on the business of Anglo American or Teck, the ability of Anglo American and Teck to successfully integrate and capture expected synergies, general economic and market conditions, including interest and foreign exchange rates, global financial markets, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in Anglo American’s or Teck’s disclosure materials filed with applicable securities regulatory authorities from time to time.

Teck assumes no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks, assumptions and uncertainties associated with these forward-looking statements, the Merger and Teck’s business can be found in Teck’s management information circular in respect of the Meeting filed under Teck’s profile on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov).

About Teck
Teck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:
Emma Chapman
Vice President, Investor Relations
+44.207.509.6576
[email protected]

Media Contact:
Dale Steeves
Director, External Communications
236.987.7405
[email protected]

Markets are reacting positively to recent news surrounding two key players in the energy ecosystem. Shares of Constellation Energy NASDAQ: CEG and GE Vernova NYSE: GEV both shot up on Nov. 19, reflecting renewed investor confidence tied to sector-specific developments and long-term growth potential in clean and nuclear energy.

November 26, 2025 2:23 PM EST | Source: Quantum eMotion Corp.
Montreal, Quebec and San Mateo, California--(Newsfile Corp. - November 26, 2025) - Quantum eMotion Corporation (TSXV: QNC) (OTCQB: QNCCF) (FSE: 34Q0) ("QeM" or the "Company") and Exascale Labs Inc. ("Exascale") today announced a multi-year initiative to integrate quantum-grade cryptographic technology directly into large-scale AI compute infrastructure. The partnership brings together Exascale's full-stack GPU platform with QeM's Quantum Random Number Generator ("QRNG") hybrid technology including cryptographic modules-setting the stage for one of the world's most secure environments for high-density AI workloads.

The collaboration, known as the Exascale-Quantum AI Compute Security Initiative, fuses next-generation chip-level quantum entropy with Exascale's modular data centers, direct-to-chip cooling systems, NVIDIA B200 GPU clusters, and real-time control plane. The result: AI infrastructure that can verify its own integrity, protect against emerging cyber threats, and safeguard sensitive data used by sectors such as defense, healthcare, finance, and blockchain compute.

Under Phase 1 of the Initiative, Quantum-enhanced features from QeM will be integrated during this phase as part of a secure-compute pilot program. Phase 2 will focus on integrating QeM's QRNG hybrid semiconductor designs into Exascale's cluster architecture. Both companies will collaborate closely on engineering, manufacturing feasibility, and deployment timelines. A core component of the Initiative is the rollout of quantum-secured infrastructure across multiple operators. Exascale will secure Technology Agreements with data-center operators, AI companies, and compute partners adopting QeM's quantum-security stack.

Management believes the Exascale-Quantum AI Compute Security Initiative is aligned with several rapidly expanding technology markets. According to MarketsandMarkets, the global Artificial Intelligence Infrastructure Market is forecast to grow from USD $79.4 billion in 2024 to approximately $422.5 billion by 2030, reflecting increased demand for large-scale GPU clusters supporting training and deployment of advanced AI models. Parallel industry research from Gartner projects that the AI Security and Trust Market-which includes technologies designed to protect AI workloads, secure data pipelines, and ensure model integrity-may exceed USD $60 billion by 2030. In addition, Allied Market Research estimates that the quantum-cryptography market, including quantum random number generation and post-quantum security technologies, could reach USD $8.6 billion by 2032.

About Quantum eMotion (QeM)

The Company aims to address the growing demand for affordable hardware and software security for connected devices. QeM has become a pioneering force in classical and quantum cybersecurity solutions thanks to its patented Quantum Random Number Generator, a security solution that exploits the built-in unpredictability of quantum mechanics and promises to provide enhanced protection for high-value assets and critical systems.

The Company intends to target highly valued Financial Services, Healthcare, Blockchain Applications, Cloud-Based IT Security Infrastructure, Classified Government Networks and Communication Systems, Secure Device Keying (IOT, Automotive, Consumer Electronics) and Quantum Cryptography.

About Exascale Labs

Exascale Labs builds and operates high-performance AI compute infrastructure-featuring modular data centers, liquid-cooled GPU clusters, InfiniBand networking, and a proprietary orchestration plane for high-density enterprise AI workloads.

Forward-Looking Information and Cautionary Statements

This news release contains "forward-looking information" and "forward-looking statements" (together, "forward-looking statements") within the meaning of applicable Canadian securities laws, including, without limitation, statements regarding: the strategic collaboration between QeM and Exascale; the objectives, scope, timing, milestones and expected outcomes of the Exascale-Quantum AI Compute Security Initiative; the anticipated features, performance and security benefits of integrating QeM's quantum random number generator technology and cryptographic modules into AI compute infrastructure; expected engineering, manufacturing feasibility, deployment plans and timelines; the securing by Exascale of technology agreements with operators, AI companies and compute partners; the expected pilot programs and commercialization activities; the anticipated revenue opportunity and duration of the partnership; market growth projections and industry outlooks for AI infrastructure, AI security/trust and quantum cryptography.

Forward-looking statements are based on management's beliefs, estimates and opinions at the time they are made and, by their nature, involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied. Such risks and uncertainties include, without limitation: the ability of the parties to negotiate and finalize definitive agreements and statements of work; the availability of financing on acceptable terms; the ability to design, engineer, manufacture, qualify, integrate and scale QeM's technologies into Exascale's platforms on anticipated timelines and to expected specifications; supply chain constraints; dependence on third-party vendors; regulatory approvals, export controls, data security, privacy and cybersecurity compliance; the performance of pilot programs and the achievement of technical milestones; market acceptance, customer procurement cycles, and successful execution of commercialization plans; Exascale's ability to secure technology agreements with counterparties on acceptable terms and timelines; pricing, competition and rapid technological change in AI infrastructure, cybersecurity and quantum technology markets; reliance on key personnel and partners; intellectual property protection, infringement claims and licensing risks; macroeconomic conditions, inflation, interest rates, foreign exchange, and geopolitical events; and other risk factors described in the Company's continuous disclosure filings available under the Company's profile on SEDAR+.

Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are qualified in their entirety by this cautionary statement and are made as of the date of this release. The Company undertakes 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 applicable securities laws. The inclusion of market data and third-party forecasts is for informational purposes only and does not imply their accuracy or completeness; such data and forecasts are subject to the same risks and uncertainties and may change without notice.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276067

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Warner Bros. Discovery (WBD) told its corporate suitors it wants to hear revised, and better, offers. The studio had already received a first round of bids from a trio of competitors interested in buying all or some of the famed movie studio. Paramount Skydance (PSKY), Netflix (NFLX) and Comcast (CMCSA) all submitted initial bids last week. Now, Warner Bros. told…

SummaryFor the three months ending September 30, 2025, the fund's Retail Class shares gained 3.70%, trailing the 5.55% advance of the benchmark S&P MidCap 400® Index.In the third quarter, U.S. stocks extended the rally that began in April following the 90-day pause for most tariffs.Lower interest rates are viewed as particularly beneficial for smaller businesses, which have access to fewer ways of raising working capital. Luis Alvarez/DigitalVision via Getty Images

The following segment was excerpted from the Fidelity Stock Selector Mid Cap Fund Q3 2025 Commentary.

Performance Review For the three months ending September 30, 2025, the fund's Retail Class shares gained 3.70%, trailing the 5.55% advance of

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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.

The author expresses only personal opinions and does not provide financial advice. The content is for informational purposes only and should not be considered as investment recommendations. The author assumes no responsibility for any investment decisions made based on this article. Always conduct your own research or consult with a financial advisor before making any investment choices. The author makes no guarantees regarding the data, and the user agrees that the author shall not be held liable for the user's use of the data.

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.

Figure 1: Tesla’s monthly chart with our big-picture Elliott Wave Principle Count.
Thus, both MS’s and our forecasts were correct: lower prices around $15-200 followed by much higher prices (at least $430). We got $214 and $474 so far.

Elliott Wave’s Road Map
While MS’s forecast of $800 doesn’t specify how it will reach that target, the EW can provide insights. Specifically, based on the internal price action, we believe TSLA is forming an ending diagonal (ED) fifth wave. In an ED, the larger waves, in this case, black W-1, 3, 5, often comprise three waves: red W-a, b, c. Moreover, the W-a tends to target the 123.6-138.2% extension of the W-1 length, measured from the W-2 low ($461-84). The W-b then drops to the 61.8-76.0% level ($365-88), while W-c typically reaches the 138.2-161.8% ($484-520).

From Figure 1, it is evident that TSLA effectively followed these Fibonacci-based target zones, reaching a high of $474 and a low of $382. Therefore, while the red W-b could become more complicated and dip slightly lower—around $370—the monthly chart indicates that the market has moved enough to consider the red W-b complete, and the red W-c should be in progress. Moreover, the Money Flow and MACD indicators made higher highs with the price (green arrows), signaling that TSLA’s price will follow suit.

Since the red W-a approached nearly the 138.2% extension ($474 vs $484), it is logical to assume the red W-c will probably reach close to the 161.8% extension at $520. Once reached, we should start looking for the black W-4, a multi-month corrective pattern back to current levels, before the black W-5 targets ideally the 200% extension at approximately $580.

Therefore, the EW has been crucial in predicting key peak and bottom prices for TSLA, providing minimal risk and maximum profits for those who look beyond just a few days or weeks. Although the market doesn’t always follow typical patterns, it has so far, so we should expect it to continue. The ideal and ultimate target of $580 is below MS’s $800 forecast, but as TSLA’s price moves forward, we will watch for any deviations that could indicate a valuation that high.

3M Co (NYSE:MMM) stock could eke out a fourth-straight daily gain, last seen up 0.1% to trade at $171.74. The blue-chip name bounced off prior resistance at the $160 level, and earlier came within striking distance of its Oct. 24, four-year high of $172.85. Now, a historically bullish signal flashing may help the security conquer those highs and extend its 33% year-to-date lead.

3M stock's recent peak comes amid low implied volatility (IV), per its Schaeffer's Volatility Index (SVI) of 23%, which ranks in the 17th percentile of its annual range. This has occurred five other times over the last five years, after which the security was was higher one month later 70% of the time, averaging a 2.6% pop. From its current perch, a similar move would place MMM above $176 for the first time since 2019.

Analysts are mostly bullish toward the equity, but there is room for additional optimism. Of the 16 brokerage firms covering 3M stock, six still carry a tepid "hold" or worse rating. This means a round of upgrades could be in store.

Meanwhile, options traders have been much more bearish than usual, per the equity's 10-day put/call volume ratio of 1.67 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 98% of annual readings. An unwinding of pessimism could keep tailwinds blowing for MMM.

November 26, 2025 2:53 PM EST | Source: Supreme Critical Metals Inc.
Vancouver, British Columbia--(Newsfile Corp. - November 26, 2025) - Supreme Critical Metals Inc., (CSE: CRIT) (FSE: VR6) (OTC Pink: VRCFF) ("Supreme" or the "Company") wishes to issue a correction to its news release dated November 26, 2025, titled "Supreme Critical Metals Announces Private Placements of up to $2,000,000."

The original news release incorrectly stated that each Warrant forming part of the Non-Flow-Through Units would be exercisable at a price of $0.021 per common share.

Corrected Information

Each Warrant issued under the Non-Flow-Through Unit financing is exercisable to purchase one additional common share at a price of $0.21 for a period of 24 months from the date of issuance.

No other terms of the Offering have been amended.

This correction does not impact any other component of the Offering, and all other information in the November 26, 2025, news release remains accurate and unchanged.

About Supreme Critical Metals Inc.

Supreme Critical Metals Inc. (CSE: CRIT) (FSE: VR6) (OTC Pink: VRCFF) is a publicly traded, diversified exploration company advancing a portfolio of high-potential silver, copper, uranium, and gold properties across North America. The Company follows a disciplined, data-driven acquisition strategy focused on mining-friendly jurisdictions with established infrastructure, predictable permitting, and supportive regulatory frameworks.

Additional information about Supreme Critical Metals is available on the Company's website at www.supremecriticalmetals.com.

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Cautionary Note Regarding Forward-Looking Information

Forward-looking information in this release includes statements regarding the expected closing date of the Offering and future exploration programs. This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information"). Such forward-looking information is provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipate", "proposed", "estimates", "would", "expects", "intends", "plans", "may", "will", and similar expressions, although not all forward-looking information contain these identifying words.

More particularly and without limitation, the forward‐looking information in this news release includes expectations regarding the Company's business plans and operations. Forward-looking information is based on a number of factors and assumptions that have been used to develop such information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information in this news release reflects the Company's current expectations, assumptions and/or beliefs based on information currently available to the Company.

Whether actual results, performance, or achievements will conform to Supreme's expectations and predictions is subject to a number of known and unknown risks and uncertainties, which could cause actual results and experience to differ materially from Supreme's expectations. Such material risks and uncertainties include, but are not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance on forward-looking statements.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of this release.

###

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276075

On November 26, 2025, K33 Research's analyst Vetle Lunde expressed a contrarian view amidst Bitcoin's struggle in the market, suggesting that its recent underperformance compared to equities highlights a potential buying opportunity. Bitcoin's price decline, while initially alarming to investors, may not reflect its intrinsic value, according to Lunde.

The miner's “dual-engine” strategy uses bitcoin mining income to fund data center buildouts for AI and high-performance computing.

TL;DR

S&P Global downgrades USDT to the weak level and reveals a rise in risky assets and persistent disclosure gaps in Tether’s reserves.
The agency warns that bitcoin now accounts for 5.6% of USDT and exceeds the stated buffer, which, combined with 24% exposure to high-risk assets, could leave the token without sufficient backing.
Tether rejects the assessment and defends its resilience.

S&P Global is reshaping the stablecoin market after downgrading USDT to the lowest level on its scale.

The agency places Tether in the weak category and draws a clear line between the token’s price stability in the market and the actual structure of its reserves, where it identifies sustained growth in high-risk assets and persistent disclosure gaps. The decision puts the world’s largest stablecoin under heavier scrutiny and forces a reassessment of the exposure backing the $185 billion currently in circulation.

Why Tether (USDT) Was Downgraded
The assessment hinges on a technical point that shifts Tether’s balance sheet. Bitcoin now represents 5.6% of USDT in circulation, a level that exceeds the 3.9% buffer the company disclosed in its third-quarter attestation. S&P outlines a straightforward scenario: a sharp bitcoin selloff, combined with losses in other high-risk assets, could leave USDT without the necessary backing to meet large-scale redemptions. The share of high-risk assets climbed to 24%, up from 17% a year earlier, and includes bitcoin, gold, secured loans, corporate bonds, and positions with limited public information.

The agency also highlights transparency gaps. Tether does not disclose the creditworthiness of its custodians, counterparties, or banking providers. It also does not offer a full breakdown of its assets or a clear structure separating reserves from the company’s own funds. According to S&P, this setup does not replicate the basic protections found in regulated markets, even though a substantial portion of reserves remains in T-Bills and other liquid instruments.

S&P’s Analysis Doesn’t Capture the Nature of Digital Money
Tether rejects the analysis and defends its model. It argues that the framework used by S&P fails to reflect the nature of digitally native money and that the data demonstrates its resilience, stability, and ability to process billions in redemptions even during periods of volatility. The company says USDT functions as critical financial infrastructure in emerging markets and that its global utility outweighs the limitations of the report.

S&P is increasingly monitoring risks tied to bitcoin’s price. Companies like Strategy, which maintains BTC on its balance sheet, received a speculative rating due to their sensitivity to sharp drawdowns. That pattern suggests the agency is adjusting how it evaluates structural risk for issuers dependent on volatile assets.

USDT remains the dominant player in the market, but S&P’s revision sends a clear message: size and adoption do not replace the need for stronger reserves, full disclosure, and a structure built to protect users in a market where volatility still dictates the pace of the sector

Just when traders got used to price declines on the Wednesday ahead of Turkey Day, bitcoin pulled a reversal higher.

Tether has quietly overtaken every central bank to become one of the most aggressive buyers of gold in recent months.

Given Tether’s vocal commitment to the long-term future of crypto, its aggressive shift into gold has left people wondering what has prompted the change. 

Sponsored

Tether Outbuys Central BanksGold’s record 56% surge in 2025 is often attributed to concerns about fiscal dominance, rising public debt, loose monetary policy, and declining trust in major currencies. 

These concerns have prompted central banks in countries such as Kazakhstan, Brazil, and Turkey to increase their gold purchases, thereby reinforcing the metal’s status as the world’s most trusted safe-haven asset.

A recent Jefferies analysis, however, revealed a surprising twist. Tether bought 26 tonnes of gold in the third quarter — more than any central bank. By the end of September, the company’s total holdings had reached approximately 116 tonnes, valued at roughly $14 billion.

Tether’s presence in the gold market extends far beyond its tokenized product, XAUt, which holds fewer than 12 tonnes despite a $1.6 billion market cap. Jefferies reported that the company has been expanding its bullion reserves to support both USDT and XAUt.

USDT’s circulation grew from $174 billion in the third quarter to $184 billion by mid-November, according to Reuters. Gold has become a larger part of its backing as supply has increased. Precious metals now account for approximately 7% of Tether’s reserves, valued at around $13 billion.

Tether asset breakdown as of September 2025. Source: Tether.Sponsored

In total, Tether holds about 104 tonnes of gold for USDT and 12 tonnes for XAUt. The scale and consistency of these purchases underscore its growing influence in the bullion market.

However, the timing of this rapid accumulation has raised a new layer of controversy.

A Move at Odds With the GENIUS ActTether’s growing bullion position sits awkwardly beside the new US GENIUS Act. The law bars any compliant issuer from holding gold as part of its reserves. It pushes firms seeking approval to rely on cash, Treasury bills, or other liquid and transparent assets.

Tether has already announced a GENIUS-compliant token called USAT, which will avoid gold entirely. Yet, the company continued to add to the bullion backing USDT even after the law was passed.

Sponsored

Despite it being a stablecoin issuer, in which one would expect it to be only buying U.S. Treasury bills, Tether has been a voracious buyer of gold recently.

Based on its 116 tonnes of gold, Tether is now the largest holder of gold outside of central banks. pic.twitter.com/5KiKAnwJIS

— Julian Klymochko (@JulianKlymochko) November 25, 2025
Why Tether doubled down on gold during this shift is still unclear. Gold prices have also cooled since hitting $4,379 in mid-October. The metal now trades more than 6% below that peak.

Even so, Tether’s commitment to physical gold highlights a deeper convergence of crypto and traditional safe-haven assets.

Sponsored

Different Havens, Different RisksThe convergence between gold and Bitcoin, often referred to as “digital gold,” is not entirely surprising. Both attract buyers who fear weakening major currencies. Many see finite-supply assets as protection against long-term debasement.

In practice, however, the two markets behave very differently. 

Bitcoin has grown rapidly over the past decade but remains highly volatile. Recent price swings made that clear. The token plunged sharply over the past two months, acting more like a high-beta tech asset than a monetary hedge.

Stablecoins operate on a different promise. 

They offer instant redemption at par and rely on reserves meant to stay stable. Yet the crypto sector continues to show vulnerability to sudden stress. A rapid shift in sentiment can happen at any time.

If demand for stablecoins were to collapse, pressure would fall directly on the assets backing them. That includes Tether’s growing pile of gold. A sharp market reversal could prompt bullion sales, drawing a traditionally steady asset into the turbulence of crypto-driven markets.

TL;DR

Fundstrat founder and Bitmine chairman Tom Lee expects Ethereum to reach $7,000–$9,000 in January 2026, despite a recent drop of nearly 30%.
His outlook centers on global tokenization growth and the expansion of ETH-based financial infrastructure enabling staking, faster settlements and on-chain asset issuance.
Bitmine plans to increase its Ethereum holdings from 3% to 5%, reinforcing a long-term strategy focused on building institutional-grade networks powered by ETH.

Ethereum trades below $3,000 after several weeks of market adjustments, yet Lee argues that the pullback stems from temporary liquidity pressure and automated selling. He believes these short-term effects do not change the medium-term structure, since stablecoins and tokenized assets drive demand as Ethereum serves as a settlement layer for digital finance.

Ethereum And The Tokenization Growth Cycle
Lee describes the current cycle as an expansion driven by real financial activity rather than speculation. Stablecoin usage is turning Ethereum into a global payment and financial record system. Major issuers already operate with market values above $100,000 million, transforming blockchains into channels for cross-border transactions, remittances and institutional flows.

He points to recent developments in U.S. banks that are testing tokenized deposits on Ethereum-compatible networks to reduce settlement delays and operational costs. Global custodians and asset managers are also experimenting with blockchain-based fund distribution, accelerating the shift toward programmable assets. This transition encourages the creation of compliant frameworks allowing institutions to directly interact with ETH-based settlement layers.

He adds that the tokenization of equities, corporate debt and short-term instruments is likely to accelerate as platforms offering faster settlement and continuous trading gain adoption. This shift, he argues, creates structural demand for ETH that does not rely solely on retail participation.

Expanding Infrastructure Around Ethereum
Bitmine, the firm led by Lee, currently holds roughly 3% of Ethereum’s circulating supply and is working to increase that stake to 5%. The strategy focuses on building validator networks, expanding staking services and bridging collaboration between developers and traditional financial institutions experimenting with on-chain products. Bitmine’s initiatives involve partnerships with regulated staking providers and infrastructure companies that target reliable uptime and compliance standards.

Bitmine is also involved in privacy-focused digital identity initiatives that use cryptographic methods to secure user data, an approach aligned with regulated tokenized finance. These systems aim to validate users without storing personal information, a feature that could support markets requiring verifiable identity for asset ownership while maintaining confidentiality.Tom Lee views tokenization as a driver already generating long-term demand for ETH, while financial infrastructure gradually migrates to blockchain.

Analysts warn that reserve changes and disclosure gaps could undermine confidence in Tether’s ability to maintain its dollar peg.

Photo: Dado Ruvic

Key Takeaways

S&P Global has downgraded Tether's (USDT) stability rating to its lowest level.
The downgrade was prompted by Tether's increased exposure to volatile assets like Bitcoin and gold in its reserves.

S&P Global, the financial services and credit rating company, today downgraded Tether’s stability rating to its weakest level. The move targets Tether’s stablecoin, USDT, which is the largest in the cryptocurrency market, with more than $184 billion in circulation.

The rating agency cited concerns over Tether’s increased exposure to volatile assets like Bitcoin and gold in its reserves, which creates potential depegging risks for the stablecoin. S&P Global also pointed to gaps in disclosures and governance as factors in the downgrade.

Tether has shifted its reserve composition to include allocations to Bitcoin and gold while maintaining a majority in cash and Treasury bills. The company’s USDT stablecoin is designed to maintain its dollar peg through these asset reserves.

The downgrade highlights perceived risks associated with holding volatile assets as backing for a stablecoin intended to maintain price stability.

Disclaimer

Spot SOL ETF accumulation is showing no sign of slowing – Solana price predictions remain bullish with TradFi markets still committed.

Bitwise launched its new Dogecoin (CRYPTO: DOGE) ETF on Wednesday, while Grayscale's Dogecoin ETF (NYSE:GDOG) finally posted $1.80 million in inflows after a flat debut.

New DOGE ETF From Bitwise Begins Trading On NYSEBitwise has launched its Bitwise Dogecoin ETF under the ticker BWOW on the New York Stock Exchange. 

The firm said the product aims to give investors regulated access to Dogecoin exposure, adding that long-time holders have sought an ETF structure for ease of custody and transparency. 

The listing was certified by NYSE Arca on Tuesday, allowing trading to begin Wednesday.

Bitwise CEO Hunter Horsley said Dogecoin "has kept its relevance longer than almost anything else in cryptocurrency," highlighting its cultural influence and sustained community activity. 

He added that DOGE remains widely used despite its meme origins, reinforcing Bitwise's decision to bring the asset into an ETF wrapper.

Grayscale's GDOG Sees First Creations After Flat Day-OneGrayscale's Dogecoin ETF began trading on Nov. 24 but failed to attract any primary-market participation from authorized participants, an uncommon outcome for a newly listed single-asset fund. 

Activity improved on Tuesday, when GDOG logged its first $1.80 million in net creations, bringing total net assets to $3.50 million.

Bloomberg analyst Eric Balchunas previously noted that GDOG's $1.4 million day-one trading volume was "solid for an average launch but low for a first-ever spot product." 

The early inflow pickup suggests that institutional desks may be watching how DOGE-linked products perform before committing further capital.

Read Also: Mohamed El-Erian Argues Bitcoin’s Drop Is Due To Flight of Speculative ‘Tourist’ Investors, But This Analyst Says It’s ‘Not the End of the World’

DOGE Price Trades Near Channel Lows As Sellers Hold Control

DOGE Price Prediction as of November 26th (Source: TradingView)

Dogecoin continues to trade inside a broad descending channel that has guided price action for months. 

The token sits near $0.152 after failing to reclaim the mid-channel level last week. 

The 20-day EMA at $0.158 remains immediate resistance, while the 50-day EMA near $0.179 and the 100-day EMA around $0.195 continue to slope downward.

Bearish structure is reinforced by Parabolic SAR signals printing above the candles. 

Each attempt to break above the 20-day EMA has been rejected, showing waning bullish momentum. 

A drop below the mid-November low near $0.148 may expose liquidity zones around $0.135 and even $0.11 along the channel's median line.

A shift in structure would require a decisive daily close above the 20-day EMA and the descending trendline, opening the path toward $0.17. 

Any broader recovery likely faces persistent selling pressure unless DOGE breaks out of the channel's upper boundary near $0.22.

Read Next:

ETF Expert Blasts Faulty Bitcoin Outflow Chart As ‘Way Off’ But IBIT’s Slide Toward $43 Is Very Real
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