Market Signal Briefing

Press release

Montrouge, November 14th, 2025

Crédit Agricole S.A. announces the reduction of its share capital through the cancellation of treasury shares purchased under a share repurchase program

On 13 November 2025, the Board of Directors, acting on the authorization of the General Meeting of Shareholders on 22 May 2024, decided to reduce Crédit Agricole S.A.'s share capital by cancelling 22,886,191 treasury shares representing approximately 0.75% of the share capital.

Such capital reduction is effective as from 13 November 2025.

These shares were purchased under a share repurchase program implemented between 1 October 2025 and 30 October 2025 to offset the dilutive effect of the 2025 capital increase reserved for employees, for an aggregate amount of 374,414,014 euros, following a decision by the Board of Directors on 14 May 2025.

Following this cancellation of such shares, Crédit Agricole S.A.'s share capital amounts to 9,077,707,050 euros, comprising 3,025,902,350 shares, including 583,317 treasury shares held as at 13 November 2025 under the liquidity agreement managed by Kepler Cheuvreux.

2025 11 14 PR CASA cancellation SBB (EN)

Trading activity on the Tradeweb European ETF marketplace amounted to EUR 72.8 billion in October. In October, equities remained the most actively traded ETF asset class, comprising 63% of the overall platform flow. Total consolidated U.S. ETF notional value traded in October reached USD 91.3 billion.

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.

SummaryEli Lilly is poised to become the first $1 trillion pharmaceutical company, driven by explosive growth in its weight-loss drug, Mounjaro.LLY's earnings and sales growth have been exceptional, with quarterly earnings up 495% and sales up 38% year-over-year, outpacing industry peers.The stock boasts a stellar long-term performance record, outperforming the S&P 500 and earning top momentum and performance grades in the analyst's system.With a five-year target price of $1,968 and strong technicals, LLY is rated a 'Strong Buy' for its rare combination of value and growth.Black Friday Sale 2025: Get 20% OffRimma_Bondarenko/iStock via Getty Images

Back on February 8, 2024, I asked the question: will Eli Lilly (LLY) be the first $1 trillion pharmaceutical company? At that time, Lilly had a market cap of about $675 billion and was a long way from $1 trillion. In

Analyst’s Disclosure:I/we have a beneficial long position in the shares of LLY either through stock ownership, options, or other derivatives. 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.

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Siemens Energy expects U.S. import tariffs to deliver a hit of at least 100 million euros ($117 million) next year, but less than the roughly 200 million euros it saw in 2025, the group's finance chief Maria Ferraro said on Friday.

CALGARY, AB / ACCESS Newswire / November 14, 2025 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) ("Valeura" or the "Company") reports its unaudited financial and operating results for the three and nine month periods ended September 30, 2025. Q3 Highlights Oil production of 23.0 mbbls/d(1) and oil sales of 2.2 million bbls; Average realised price of US$72.1/bbl, generating revenue of US$155.7 million; Adjusted EBITDAX of US$80.7 million(2) and adjusted after tax cashflow from operations of US$73.2 million(2); Cash and net cash balance as of September 30, 2025 of US$248.4 million(2,3), with no debt; Adjusted working capital as of September 30, 2025 of US$275.2 million(2); Successful ten-well drilling campaign at block G11/48, resulting in a production increase to 24.8 mbbls/d at quarter-end(1,4); Major offshore acreage expansion through strategic farm-in agreement in the Gulf of Thailand(5); Continued progress on the Wassana field redevelopment project; and Recognised by Report on Business Magazine as Canada's No.

Askari Metals Ltd (ASX:AS2) earlier this week provided an update on its copper and gold exploration activities at the Nejo project in Ethiopia.

The company said the campaign is its first reconnaissance-style program at Nejo. It will focus on validating historical RC drill collars and targeting high-priority prospects in the south, including Guji 1 and Komto 2.

Askari Metals told investors that the campaign also includes work in the northwest at the Katta prospect. It highlighted that historical drilling there intersected 140.8 metres at 3.2% copper, ending in mineralisation. The company noted that these results have not been followed up since the 1970s. It said the area could potentially host a large VMS-style system.

The company confirmed that preparations are underway for a planned drilling program in Q4 2025. It is currently securing a rig, crew, and consumables.

Askari said the current work is designed to lay the groundwork for future drilling. It stated that the Guji 1 and Komto 2 corridor is a 9-kilometre mineralised strike that remains open in both directions.

Executive Director Gino D'Anna said the company could reach a maiden resource within 12 months. He explained that work to clean and analyse the historical exploration database has allowed the company to refine its targeting.

Askari added that the Nejo licence covers 1,200 square kilometres, with multiple additional targets that may be assessed over time. It said the current phase is the beginning of a longer-term program that will expand as the company grows its human and capital resources.

D'Anna said the exploration program would likely generate continuous updates over the next two to three years.

Proactive:

Askari Metals has kicked off a copper and gold exploration program at the Nejo project in Ethiopia. For more on this, I’m joined by the company’s Executive Director, Gino D'Anna. It’s been a while — how are you?

Gino D'Anna:

Doing well, thank you so much.

Proactive:

Good to see you again and have you back here at Proactive. Now, the team is targeting gold in the south at Nejo and copper in the northwest, and this is part of a dual-track program. How important is this exploration?

Gino D'Anna:

This exploration campaign is a very important program for the company, given that it's our first reconnaissance-type exploration program. It's going to be important to validate and verify those historical RC drill collars, particularly on what we call the Guji-Gudeya trend in the southwest of the licence, which hosts high-priority drill targets — Guji 1 and Komto 2.

That’s vital for the company to mobilise a rig onto those three prospects as part of the next phase of exploration. We're also going to be exploring the Anolekola trend, again in the southwest licence. There’s a lot of historical drilling and trenching in that area, but nothing was ever followed up cohesively or systematically — so that’s the opportunity for Askari.

This is about opening things up, getting the company’s intellect and knowhow into the project, and verifying what we’ve read in historical reports with actual field testing.

Now, in the northwest at Katta, we’re talking about high-grade copper mineralisation. People might remember the drilling from the 1970s — 140.8 metres at 3.2% copper, ending in mineralisation. Those holes have never been followed up. So again, that’s a key catalyst — pursuing these high-grade zones. Also, looking at the geological style, the Katta area could potentially be a very large VMS system, which has never been examined historically. That’s a key focus for us.

Proactive:

This program will essentially lay the foundation for your upcoming drilling campaign, which is planned for Q4 of 2025. Are we still on track for this?

Gino D'Anna:

We are. Administratively, we’ve got the process underway to secure the drill crew and the rig. As I mentioned, drilling is going to be focused predominantly in the Guji 1 and Komto 2 area — that's a 9-kilometre strike zone, continuously mineralised and still open in both directions.

So we’re running this exploration program in tandem with the administrative process — lining up rig, consumables, operators, and so on. Then we’ll be able to lock in a start date and update investors and shareholders accordingly.

Proactive:

It’s quite an exciting program. It could fast-track the company towards a maiden resource. How soon could that take place in your opinion?

Gino D'Anna:

Given the breadth of data we’ve got, and the time we've spent refining the historical exploration database, we think we can definitely fast-track it. I’d say we could be at the resource stage within 12 months.

Then it’s a matter of applying technical and economic feasibility analysis. But more importantly, this is one piece of the puzzle. What I mean is that the program will continue to evolve and expand.

We’ve got 1,200 square kilometres. There’s no shortage of exploration targets. The plan is to focus on an area to begin with, and then expand as we increase our human and capital resources. It’s going to be a very busy period for the company — and it starts now. I can see this running for the next two or three years. We’ll have no shortage of information and activity in the field.

Proactive:

It’s good to see the Nejo project starting to ramp up. There’s a lot happening on the ground, which I think will keep investors very engaged heading towards the end of the year. Askari Metals Executive Director Gino D'Anna, thank you for the updates — and best of luck with your upcoming trip to Ethiopia. 

Gino D'Anna:

Thank you. It's always a pleasure to be with you.

Matthew Sigel, the director of research for digital assets at VanEck, recently riled up the XRP community by implying that the popular altcoin does not actually have any utility.

Bitcoin Depot launches crypto ATM operations in Hong Kong, marking its first Asia market entry. Bitcoin Depot (NASDAQ: BTM) announces expansion into Hong Kong on Nov.

Nearly $5 billion in BTC and ETH options expire today on Deribit.Max pain levels signal potential price pulls toward $105,000 BTC, $3,500 ETH.Rising implied volatility shows traders expect major short-term market swings.Almost $5 billion in Bitcoin and Ethereum options are set to expire on November 14, 2025, at 8:00 UTC on Deribit. These options expiry could shake the prices of BTC and ETH, potentially moving them toward their respective strike prices as expiration approaches.

Today’s expiry is slightly lower than last week’s $5.4 billion, but the stakes are higher today as the market shows weakness. Therefore, traders and investors should closely watch max pain levels and positioning, both of which could impact short-term price action.

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Bitcoin Options Market Shows Cautious OptimismBitcoin options positioning highlights renewed caution after the pioneer crypto dipped to levels below $100,000 for the second time in a week.

Data on Deribit shows that the maximum pain sits at $105,000, where most traders are bound to suffer the most losses as the options near expiration.

Expiring Bitcoin Options. Source: DeribitMeanwhile, the Put-to-Call ratio (PCR) is 0.63, indicating that there are fewer put options being traded than call options. This inclination suggests a bullish or optimistic market sentiment, as traders are placing more substantial bets on the market to rise.

As of this writing, Bitcoin was trading for $99,092, down by almost 3% in the last 24 hours. Therefore, the bullish bets align with the maximum pain theory, which states that prices tend to move toward their maximum pain (strike price) levels due to the influence of smart money.

A closer look at the chart reveals active hedging, rather than panic, with open interest concentrated near the $95,000 and $100,000 puts (yellow vertical bar) and the $108,000 and $111,000 calls (blue vertical bars), making these key battlegrounds as expiration nears.

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Total open interest stands at 40,846 contracts, with calls (25,121) outnumbering puts (15,725). The notional value exceeds $4.04 billion, reflecting the magnitude of this expiry.

Bullish Sentiment Seen in Ethereum Positioning Ethereum options maintain a defensive stance, trading near $3,224 as of this writing, with max pain close to $3,500. Ethereum options’ notional value sits above $730 million.

The put/call ratio is 0.64, slightly higher than that of BTC, suggesting strong bullish sentiment in the market. This indicates that traders are purchasing significantly more call options than put options, anticipating future price increases. 

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Expiring Ethereum Options. Source: DeribitIndeed, the chart above shows call options at 142,333, against only 90,515 put options, translating to a 1.5x+ difference. The total open interest is 232,852.

Meanwhile, today’s options expiry comes amid broader market chaos that goes beyond Bitcoin’s dip below $100,000. Analysts at Greeks.live highlight catalysts such as the recently resolved US government shutdown.

“The US government ended an unprecedented 43-day shutdown, during which a significant amount of economic data was not released on schedule, forcing macroeconomic analysis to rely heavily on projections. The latest CPI data was also not published, significantly amplifying the importance and uncertainty surrounding the next release, as it grants the data agency greater “maneuvering room,” they wrote.

However, they highlight the December Federal Reserve interest rate meeting as the most pivotal event, amid rising uncertainty in macroeconomic data, geopolitical tensions, and the AI boom.

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The analysts also note that both open interest (OI) and trading volume continue to rise in the options market, with a notable increase in out-of-the-money option trades.

This indicates growing divergence among market participants regarding future outcomes, reflected in slight increases across major implied volatility (IV) maturities.

“Block trades have also become more active, skew is moving toward equilibrium, and the short-term curve has become more fragmented,” they explained.

Taking all these factors together, they collectively signal heightened market uncertainty about near-term price movements. Thus, a plausible “reason” emerges as a trigger for a market reversal.  

Traders should therefore brace for volatility as these options near expiration, but understand that stability comes after, as the markets adjust to the new trading environment.

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Pi Network’s price is currently $0.2156, down 4.8% in the last 24 hours, reflecting ongoing market pressure. Experts say reclaiming Pi’s all-time high may be difficult due to structural and market factors.

Why Pi’s Price Faces HeadwindsOne major factor holding back Pi is the daily unlocking of tokens, which steadily increases the circulating supply. As more pioneers gain access to previously locked balances, selling pressure intensifies, making upward price movement harder. 

Additionally, Pi’s value depends heavily on real-world adoption and utility. Without clear use cases or mechanisms to encourage long-term holding, demand may struggle to outpace the growing supply. This combination of increasing liquidity and limited external utility makes reclaiming past highs a steep challenge.

Understanding Pi’s Dual Value SystemProfessor and programmer Kamel Kadah, a Pi pioneer, recently introduced a live dashboard for Pi’s Dual Value System, designed to make the network’s dynamics easy to follow. This system measures two types of value: Internal Value, which is stable and ecosystem-driven, and External Value, which reacts to market trends.

The Internal Value, currently at $314,150, represents the value within Pi’s ecosystem, including activity across 127 Pi apps. Stability is extremely high at 99.6%, and internal trading volume reaches $562.8 million with 1.8 million active transactions. This internal value is driven by Pioneer consensus rather than global market speculation, offering a safe and consistent foundation for daily use like buying, selling, or gifting Pi.

The External Value, currently $40.5908, fluctuates with global supply, demand, and economic trends. With 12.4% volatility, Pi is listed on 8 exchanges, and 24-hour trading volume is $40.6 million. The contrast between internal and external values highlights the strength of the Dual Value System: stability within the ecosystem and flexibility outside in the market.

Pi Network’s Growth and StatsPi continues to grow as a digital economy. Currently, there are 142 active apps and 2.4 million daily transactions. About 76% of pioneers have completed KYC, and the network now boasts 59.9 million pioneers. The next Pi Day is just 3.3 days away, marking another milestone for the community.

Bridging the Gap Between Internal and External ValuePi’s internal value is roughly 17.77 times higher than its external market value, with a gap of around $314,087. Analysts say that if current trends persist, the two values could converge within 18 months. 

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Author

Sujha Sundararajan

Author

Sujha Sundararajan

About Author

Sujha has been recognised as 🟣 Women In Crypto 2024 🟣 by BeInCrypto for her leadership in crypto journalism.

Last updated: 

November 14, 2025

Luxembourg has chosen only Bitcoin for its Intergenerational Sovereign Wealth Fund of Luxembourg (FSIL) and does not intend to diversify.

The nation has already allocated 1% of its assets, which is about €7 million, to Bitcoin. Speaking at the Bitcoin Amsterdam 2025, Luxembourg’s Finance Minister Gilles Roth stressed that the nation is keen to be among the first to adopt BTC through its Sovereign Wealth Fund.

“Bitcoin will help shape the future of finance: secure, open and competitive,” the minister wrote on X.

At #Bitcoin Amsterdam.
🇱🇺believes in responsible innovation: from building a trusted home for digital assets to being the first sovereign in Europe to invest in Bitcoin through our Sovereign Wealth Fund. Bitcoin will help shape the future of finance: secure, open and competitive. pic.twitter.com/FD2346qLCd

— Gilles Roth (@RothGilles) November 13, 2025
Minister Roth explicitly noted that though the fund’s investment policy allows for an allocation in any crypto asset, “it has chosen to invest only in Bitcoin.”

“Because, as Michel Saylor once said, there is no second best… and we’re in it for the long haul,” he noted, followed by an instant applause across the room.

“Let Me Be Clear: Luxembourg HODLs” – Finance MinisterThe minister closed his speech with a clear policy stance, emphasizing that the nation plans to hold the crypto.

“Let me be clear: Luxembourg HODLs. We are still very early. I am sure we will still soon follow our lead.”

Luxembourg, being one of the world’s largest cross-border investment hub, manages over €7.6 trillion in funds. “In recent years, a whole range of cross-border fintech companies have set up in Luxembourg,” he continued.

These companies serve as payment gateways, tokenization platforms and regulatory platforms for clients across the globe, Roth added.

In June, crypto exchange Coinbase won a European Union Markets in Crypto Assets license (MiCA) from Luxembourg to offer crypto services across the European Union. However, the exchange’s intended operations in Luxembourg would be relatively less, as reported earlier.

From Flagging Crypto Businesses “High Risk” to Welcoming Digital AssetsSurprisingly, Luxembourg labelled crypto firms as “high-risk” entities for money laundering in its 2025 risk report. The study highlighted how Virtual Asset Service Providers (VASPs) often operate in decentralized environments, complicating oversight.

“Over the past decade, we have built a trusty tone for Bitcoin and digital assets,” Gilles Roth said. In fact, the nation regulated the very first European crypto exchange, Bitstamp, nearly a decade ago.

Luxembourg supports the industry “to make crypto a trusted asset class. We are convinced that the future of finance is digital,” he added, referring to Bitcoin as “digital gold.”

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This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)
Ethereum is down 4% this week as the market remains bearish. The price continues to hold above the $3,000 support, but buyers appear absent, which may extend the downtrend.

With sellers in control since the start of November, momentum indicators such as the MACD and RSI are starting to look oversold on lower timeframes, including the 4-hour. A bullish divergence is also appearing, which gives hope for a relief rally soon.

Looking ahead, Ethereum may bounce to recover some of the recent losses, but the resistance at $3,800 could stop any attempts at a significant reversal.

Source: TradingView
Ripple (XRP)
Surprisingly, XRP is up 3% compared to the same period last week. Despite this brief bounce, the momentum remains bearish, and the price is struggling to stay above the $ 2.30 support. The current performance is largely tied to the launch of the first spot XRP ETF this week.

One positive aspect is that the sell volume has been declining since October, which could signal that bears are becoming exhausted. That could allow buyers to return. The key resistance is found at $2.43.

Looking ahead, XRP remains in a challenging position, but there is a real chance that buyers can reverse this trend if the support at $ 2.30 is defended effectively.

Source: TradingView
Cardano (ADA)
ADA remains close to 50 cents despite several attempts to move higher. The bias is bearish, and the price closed the week with a 3% loss. There is simply no force to push the price higher at this time.

While the momentum indicators show some exhaustion on the sellers’ side, this downtrend can continue for some time until buyers return. Key support levels are found at 50 and 45 cents.

Looking ahead, ADA needs to break away from this downtrend. That starts by moving above 60 cents. However, this seems like a challenging task now.

Source: TradingView
Binance Coin (BNB)
Binance Coin lost its sparkle in the past few weeks as its price continues to make lower lows. The price is down 5% this week and has also lost the support at $1,000, which has now become resistance. This is bearish.

The next significant support is found at $900. Should that fail as well, buyers could then retreat to the $800 level. With momentum favouring bears right now, it is unlikely for any recovery to happen any time soon.

Looking ahead, best to let BNB correct and find a key support that can hold before considering any exposure.

Source: TradingView
Hyperliquid (HYPE)
If we zoom out, HYPE has been making lower highs since September. This puts the price action in a bearish trend with strong support around $36. However, repeated tests of this level could lead to a breakdown with lower lows.

At the time of this post, the momentum is bearish and the price closed the week with a 4% loss. The optimism and hype that once characterised this cryptocurrency seems to have vanished. But this could also present an opportunity to accumulate at a discount.

Looking ahead, HYPE needs to hold above $36 to stop the downtrend. Any failure there will see sellers encouraged to continue their pressure.

Source: TradingView

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XRP has taken center stage this week as the broader crypto market faces intensified selling pressure. Despite the volatility, a major breakthrough has arrived: Canary Capital’s XRP exchange-traded fund (ETF) has officially received regulatory approval, marking a historic step for the asset.

On November 12, 2025, Nasdaq certified the product for listing, paving the way for trading to begin on November 13 under the ticker XRPC — establishing the first-ever spot XRP ETF on a US exchange.

This milestone represents a turning point not only for Ripple’s ecosystem but also for broader crypto adoption in traditional finance. The approval follows years of regulatory scrutiny surrounding XRP and its legal status, signaling growing institutional acceptance of the asset as a legitimate digital commodity.

While the announcement has reignited optimism among investors, XRP’s price remains under short-term pressure as traders weigh macroeconomic risks and profit-taking from early entrants.

Still, analysts view the ETF launch as a potential catalyst for renewed liquidity and market participation, which could help stabilize sentiment and attract fresh inflows. With trading set to begin imminently, all eyes are now on how XRPC performs in its debut — and how the market reacts.

Whales Front-Run the XRP ETF While Retail Rushes In After the News
According to a recent CryptoQuant report by analyst Woominkyu, the behavior of large investors around the XRP Spot ETF announcement reveals a familiar pattern in crypto markets — whales moved first, retail followed after. Futures data shows that in the days leading up to the ETF’s approval, there was a clear rise in whale-sized orders, indicating that major players had begun positioning early while XRP’s price remained compressed and liquidity was low.

XRP Ledger Futures Average Order Size | Source: CryptoQuant
However, once the ETF announcement went public, retail-sized orders surged, signaling that smaller traders entered the market after the news broke. This dynamic — whales buying early and retail piling in later — often creates a volatile and less predictable environment.

When sentiment-driven buying overlaps with previously informed capital flows, short-term corrections and erratic moves tend to follow.

The launch of the XRPC ETF accelerated this shift, bringing in new participants who had been waiting on the sidelines.

While this doesn’t necessarily mark the end of XRP’s move, it does highlight a transition phase, where the balance of power between institutional accumulation and retail speculation will determine the next direction. The coming weeks will test whether whales choose to hold or start taking profits.

Bulls Find Support at $2.30
The weekly XRP chart shows the asset consolidating near $2.50, holding firm above its key support zone around $2.30 following the recent ETF-driven rally. The launch of the Spot ETF triggered sharp volatility, but the structure now suggests stabilization as the market digests this historic milestone.

Price consolidates around a key level | Source: XRPUSDT chart on TradingView
From a technical perspective, the price remains in a mid-term bullish structure, with the 50-week moving average (blue line) acting as immediate dynamic support. Despite recent corrections from highs near $3.50, buyers have consistently stepped in at lower levels, signaling strong interest from institutional participants following the ETF approval.

A decisive weekly close above $2.70 could open the door for another leg higher toward $3.20–$3.50, where the next resistance cluster lies.

However, if the $2.30 zone fails to hold, the next significant area of demand sits around $1.90, aligning with the 100-week moving average (green line). Given current conditions, XRP appears to be entering a reaccumulation phase, with volatility compressing as traders wait for confirmation of the next move.

Featured image from ChatGPT, chart from TradingView.com

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance.
Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

The Bitcoin price is plunging! The levels dropped below the psychological barrier at $100,000 while altcoins display some strength. After marking daily close below $100K for the first time in 5 months, the buyers were expected to step in. But the indecisiveness among them has triggered more bearish action, driving the levels below $97,000. Now, the question arises whether the BTC price has entered a bear market with the Death Cross approaching or the bulls will regain control? 

Current Price ActionEver since the Bitcoin bulls were locked at the ATH close to $126,000, they appear to have lost most of their strength. Their inability to defend the interim support validates the bearish claim and raises concerns over the next price action. After printing consecutive lower highs and lows, the price marked an intraday low at $96,712. The price has rebounded to some extent above $97,000, while the fear of a pullback persists. 

The trading volume escalated from around $85 billion to above $106 billion as the levels slid below $100K. On the other hand, the open interest continues to plunge, reaching levels close to $66 billion. In general, Bitcoin is showing unusual weakness in Q4, which is usually bullish in the past few years. It is underperforming gold, the S&P 500, and the Nasdaq. The major reason behind the sell-off could be whale exodus, year-end tax moves and rotation into better alternatives. 

BTC Price Analysis—Bitcoin Death Cross in Play!Bitcoin price has been forming consecutive higher highs and lows, displaying the inability of the bulls to revive a strong upswing. The token failed to defend the support initially at $115,000, later at $106,800, and is now on the verge of losing $100,000. Another bearish daily close cloud further raises the possibility of a bearish weekly close, which could strengthen the bearish case for the BTC price rally. 

Bitcoin is testing a critical confluence of support as the price dips toward the long-term ascending trendline and the $97K–$99K zone. A clean daily close below this level could open the way toward the deeper demand area at $92K–$94K. However, repeated rebounds from this trendline across 2024–2025 suggest buyers may still defend it. 

OBV shows weakening volume, signalling reduced bullish conviction, and on the other hand, the 50/200-day MA is heading for a Death Cross. If BTC holds above the trendline, a recovery toward $105K remains possible; otherwise, further downside looks more likely, dragging the levels below $92,000. 

Final ThoughtsBitcoin’s drop below $97,000 and the looming Death Cross signal a critical juncture for the market. While previous bearish crossovers were absorbed, current support levels are under greater pressure, and the declining OBV suggests continued selling momentum. Traders should closely monitor the $93,000–$95,000 support zone and watch for volume confirmation before taking new positions. Although this is not necessarily the start of a bear market, the coming days will be decisive in determining whether BTC stabilizes or faces further downside.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

7h20 ▪
4
min read ▪ by
Luc Jose A.

Summarize this article with:

While precious metals regain ground and Washington avoids budget paralysis, the crypto ecosystem wavers. Investor sentiment collapses, reaching its lowest level since March. Indeed, alarming technical signals reveal a possible breaking point. In a climate of widespread distrust, the market seems to enter a critical phase where fear now dictates movements. This abrupt trend change raises questions about the solidity of the rebound eagerly awaited by industry players.

In brief

The crypto market is going through a turbulent phase marked by an extreme fear sentiment not seen since March.
The Crypto Fear & Greed Index falls to 15/100, signaling massive disengagement of retail investors.
Experts like BitQuant and Santiment mention a possible capitulation point and imminent reversal.
Social activity around Bitcoin is sharply declining, confirming a climate of widespread distrust.

Extreme fear sets in : a market on the brink of capitulation
While many analysts wonder if the end of the shutdown will really boost the crypto market, the Crypto Fear & Greed Index, a benchmark for measuring crypto investor sentiment, fell to 15 out of 100 last Wednesday, a threshold synonymous with “extreme fear.”

This is its lowest level since March. This level, unprecedented for months, reflects a deeply marked general pessimism across the market. Trader BitQuant highlighted on X : “below 20? I’ve never seen this indicator drop so low. Retail investors must have already left the market.” This statement reveals the growing withdrawal of small investors, often considered an indicator of collective loss of confidence.

Other signals confirm this dynamic of market withdrawal and exhaustion :

Social engagement levels are sharply dropping : according to Santiment, the usually balanced ratio between optimistic (“bullish”) and pessimistic (“bearish”) comments on social media around bitcoin is now significantly lower than average ;

Retail investor disengagement is widespread, contrasting with bitcoin’s current capitalization estimated at 2 trillion dollars ;

Santiment mentions a potential reversal, explaining that “when the crowd turns negative on assets, especially those with high capitalization, it signals we are approaching the capitulation point” ;

Historically, this type of situation often precedes a phase where institutional players or whales recover assets sold in panic, which can then initiate a new bullish dynamic.

This accumulation of weak but converging signals illustrates a pivotal moment: between a market that could hit a technical low and an ecosystem where trust seems durably impaired.

Bitcoin underperforms against gold : a reversed dynamic
While fear dominates trading in the crypto universe, the contrast with the precious metals market is striking. With the end of the shutdown, an event widely anticipated by markets, it is gold and silver that have captured investor attention.

The yellow metal surpassed $4,200 an ounce, driven by speculation around a new $2,000 stimulus check promised by the Trump administration. The Kobeissi Letter summarizes this sentiment : “if $2,000 checks become reality, momentum will accelerate very quickly. Gold and silver always know first.”

In this configuration, the BTC/XAU ratio (bitcoin’s value in gold) threatens to reach its lowest levels in over a year. In other words, despite its colossal capitalization, bitcoin is losing ground to gold, often considered a safe-haven asset. It is also worth noting that the traditional Fear & Greed index, which measures sentiment in equity markets, remains more moderate at 35/100, illustrating the uniqueness of the trust crisis within the crypto market.

This relative decoupling of bitcoin from traditional assets raises questions about its ability to play the role of a safe-haven in an uncertain macroeconomic context. While gold benefits from renewed interest for its perceived stability, bitcoin seems currently unable to fulfill this function in institutional portfolios. The current divergence could fuel a partial reallocation of institutional capital or even extend the period of crypto underperformance against tangible assets.

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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.

The crypto market today has been under pressure after a sharp 5.2% drop, and Bitcoin slipping below $97,000 has only added to the fear. But in the middle of all, one coin is suddenly grabbing all the attention, SUI.

According to the well-known crypto trader Michael van de Poppe, SUI price might be setting up for a massive comeback, the same zone that triggered huge rallies in the past, with some traders even eyeing a move toward $20.

SUI Price Shows Signs of RallyCrypto trader Michael van de Poppe shared a new weekly chart showing SUI sitting right on top of a major long-term support area, calling it a classic setup for a strong reversal. 

According to him, the token is trading far below its 20-week moving average, leaving a wide gap that suggests SUI may be significantly undervalued.

He also pointed out that the last time SUI showed a similar setup, back in March and April 2025, it delivered more than 100% gains right after touching these levels.

Sui Key Price TargetsBased on his chart, he added two important upside targets if SUI begins to recover,

First target zone: around $2.70–$2.90Second target zone: near $3.27These levels mark SUI’s next major resistance points, and breaking above them could confirm a stronger trend reversal.

Why SUI Is Attracting Long-Term InterestBeyond the chart patterns, what excites analysts the most is SUI’s growing ecosystem. The network has been expanding steadily in the Web3 and DeFi space, but the recent launch of USDSui, a fiat-backed stablecoin issued by Stablecoin, a Stripe company, has drawn attention to a new level.

Van de Poppe said his visit to New York Blockchain Week made it clear that institutional appetite is increasingly centered around stablecoins, especially after new regulatory clarity under the Genius Act. 

With SUI becoming a stronger player in that area, many analysts believe this could push long-term demand upward.

Supporting Van de Poppe’s call, crypto analyst Ali Martinez shared that SUI has finally returned to a bullish structure on the weekly chart. He noted that the token is forming a higher low, often the first sign of an upcoming reversal.

The last time SUI touched the bottom of this same price channel, it went on to rally 1,060%. If the pattern repeats, Martinez believes SUI could jump as high as $20, an increase of more than 860%.

For now, SUI is trading around $1.81, reflecting a drop of 10%, but analysts say this dip may simply be part of a larger setup forming beneath the surface.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

R25, a stablecoin and real-world asset protocol incubated by Alibaba’s Ant Financial, has officially launched on-chain with Polygon as its first network partner. 

Summary

R25 launches rcUSD+ on Polygon.
The stablecoin pays yield from real-world assets.
Ant Financial tech powers asset verification.

The debut introduces rcUSD+, a stablecoin that will generate yield directly from a portfolio of conservative, institutional-grade assets like money market funds and structured notes.

The launch, announced on Nov. 14, marks another attempt to bring traditional financial returns into open, composable decentralized finance systems.

Bridging real-world yield with on-chain liquidity
Most stablecoins aim to simply to hold their peg. rcUSD+ is built to do a bit more.
It earns yield from a mix of low-risk assets such as money market funds and short-term notes. Large institutions use these same kinds of assets to generate modest returns and safeguard capital. 

The rcUSD+ portfolio has multiple levels of risk control and is professionally managed. The yield that the assets generate goes straight to token holders, without relying on inflationary rewards or risky farming.

Polygon (POL) was chosen as the first network because it offers low fees and already handles billions in stablecoin activity every month. Its growing role in real-world asset projects made it a natural fit.

According to Polygon co-founder Sandeep Nailwal, the partnership introduces “institutional-quality real-world assets” to the ecosystem, offering a new base layer for developers building payment rails, lending markets, and collateral systems.

Why this launch matters for the RWA sector
Interest in tokenized real-world assets has been rising fast. Many analysts expect RWAs to become a major part of global finance by the end of the decade. rcUSD+ enters the market at a time when institutions are looking for simple, safe, and transparent ways to move yield-bearing products on-chain.

Ant Financial has been growing its presence in this area. The company has worked on gold tokenization, new blockchain infrastructure, and tools for verifying the assets behind tokens. R25 uses these systems to provide clearer reporting and better oversight.

In the RWA space, Polygon is also seeing a lot of traction. Recent projects include a sovereign-backed stablecoin in India and a regulated money market fund by AlloyX. rcUSD+ adds another building block for both retail users and developers.

Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...

Last updated: 

November 14, 2025

Canary Capital’s XRPC, the first US spot exchange-traded fund offering direct exposure to XRP, made a powerful entrance on Thursday with $58 million in first-day trading volume.

Key Takeaways:

Canary Capital’s XRPC ETF debuted with $58 million in volume, the strongest first-day performance of any ETF launched this year.
XRPC and Bitwise’s Solana ETF now dominate 2025 ETF launches, with the next-best fund trailing by more than $20 million.
The surge reflects rising institutional demand for regulated access to altcoins, even as XRP’s price showed little immediate reaction.

The figure marks the strongest debut of any ETF launched this year, outpacing more than 900 new funds, according to Bloomberg ETF analyst Eric Balchunas.

The launch narrowly beat Bitwise’s Solana ETF (BSOL), which recorded $57 million on day one.

XRP and Solana ETFs Dominate 2025 Launches by Wide MarginThe two funds now stand far ahead of the rest of the 2025 class, with the third-place ETF trailing by more than $20 million, a sign that crypto-linked products continue to dominate early-stage investor demand.

XRPC’s opening performance underscores growing institutional appetite for exposure beyond bitcoin and ether, as capital begins flowing toward altcoins with strong use-case narratives.

XRP’s role in cross-border payments and its established ecosystem appear to have contributed to institutional interest, even though the token itself saw little immediate price movement following the ETF’s debut.

Congrats to $XRPC for $58m in Day One volume, the most of any ETF launched this year (out of 900), BARELY edging out $BSOL's $57m. The two of them are in league of own tho as 3rd place is over $20m away. pic.twitter.com/MjsOeceeNb

— Eric Balchunas (@EricBalchunas) November 13, 2025
The strong early volume suggests investors are eager for regulated, exchange-listed vehicles that allow them to access alternative digital assets without holding the tokens directly.

Whether the momentum continues will be closely watched in the coming weeks, particularly as the market assesses broader interest in the XRP Ledger’s payment infrastructure and long-term utility.

XRP Drops 7.3% as First US Spot ETF DebutsMeanwhile, XRP suffered a sharp 7.3% drop, breaking below the key $2.30 support level in one of its most volatile sessions in weeks, just as the first US spot XRP ETF made its market debut.

The decline unfolded across a violent $0.23 trading range, with 157.9 million XRP exchanged, nearly 50% above normal volume.

The core breakdown hit during a four-minute liquidation wave between 04:32 and 04:35 UTC, when XRP plunged from $2.313 to $2.295.

A single-minute burst of 4.06 million XRP marked the session’s peak stress point, followed by a brief liquidity freeze as order books thinned.

On-chain activity added to the uncertainty, with 110.5 million XRP moving between unknown wallets during the selloff.

Notably, multiple market analysts now predict XRP could finish 2025 above $3.50, with potential to reach $5 by 2026 if institutional inflows sustain momentum.

The XRP/USD chart displays an Elliott Wave analysis projecting a dramatic bullish scenario.

The chart shows that XRP has completed a five-wave impulse structure from 2013 to 2018 (Wave 1), followed by a prolonged corrective Wave 2 that bottomed around 2023.

The analysis indicates XRP is now in the early stages of Wave 3, historically the most powerful impulse wave.

The projection shows a potential rally toward the $5-6 range, representing over 150% gain from current levels around $2.40

Key Fibonacci extension levels are marked, with the 0.786 extension around $2.20 (already achieved) and the 1.00 extension near $3.5 serving as the next target before the 1.618 extension near $5.5.

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Vaxart, Inc. (OTC:VXRT) Q3 2025 Earnings Call November 13, 2025 4:30 PM EST Company Participants Edward Berg - Senior VP & General Counsel Steven Lo - President, CEO & Director James Cummings - Chief Medical Officer Sean Tucker - Senior VP & Chief Scientific Officer Jeroen Grasman - CFO, Principal Accounting Officer & Principal Financial Officer Conference Call Participants Cheng Li - Oppenheimer & Co. Inc., Research Division Nabeel Nissar - Jefferies LLC, Research Division Presentation Operator Greetings, and welcome to the Vaxart Business Update and Third Quarter 2025 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Precision Optics Corporation, Inc. ( POCI ) Q1 2026 Earnings Call November 13, 2025 5:00 PM EST Company Participants Joseph Forkey - CEO, President, Treasurer & Director Wayne Coll - CFO & Secretary Conference Call Participants Robert Blum - Lytham Partners, LLC Presentation Operator Good afternoon, and welcome to the Precision Optics Q1 '26 Earnings Event. [Operator Instructions] Please also note today's event is being recorded.

Precigen, Inc. ( PGEN ) Q3 2025 Earnings Call November 13, 2025 4:30 PM EST Company Participants Steven Harasym - VP & Head of Investor Relations Helen Sabzevari - President, CEO & Director Phil Tennant - Chief Commercial Officer Rutul Shah - Chief Operating Officer Harry Thomasian - Chief Financial Officer Conference Call Participants Jason Butler - Citizens JMP Securities, LLC, Research Division Swayampakula Ramakanth - H.C. Wainwright & Co, LLC, Research Division Michael DiFiore Brian Cheng Presentation Operator Good afternoon, ladies and gentlemen, and welcome to the Precigen Third Quarter 2025 Financial Results and Business Update Conference Call.

November 13, 2025 11:00 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 13, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of DexCom, Inc. (NASDAQ: DXCM) between July 26, 2024 and September 17, 2025, both dates inclusive (the "Class Period") of the important December 29, 2025 lead plaintiff deadline.

SO WHAT: If you purchased DexCom securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the DexCom class action, go to https://rosenlegal.com/submit-form/?case_id=28133 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. If you wish to serve as lead plaintiff, you must move the Court no later than December 29, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) DexCom had made material design changes to the G6 and G7 continuous glucose monitoring ("CGM") systems that were unauthorized by the U.S. Food and Drug Administration (the "FDA"); (2) the foregoing design changes rendered the G6 and G7 less reliable than their prior iterations, presenting a material health risk to users relying on those devices for accurate glucose readings; (3) accordingly, defendants' purported enhancements to the G7, as well as the device's reliability, accuracy, and functionality, were overstated; (4) Defendants downplayed the true scope and severity of the issues and health risks posed by adulterated G7 devices; (5) all the foregoing subjected DexCom to an increased risk of heightened regulatory scrutiny and enforcement action, as well as significant legal, reputational, and financial harm; and (6) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the DexCom class action, go to https://rosenlegal.com/submit-form/?case_id=28133 call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274429

November 13, 2025 23:07 ET

 | Source:

Fennec Pharmaceuticals Inc.

RESEARCH TRIANGLE PARK, N.C., Nov. 13, 2025 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX) (“Fennec” or the “Company”), a specialty pharmaceutical company, today announced the pricing of its underwritten registered public offering of 4,666,667 common shares at a public offering price of $7.50 per share. In addition, Fennec has granted the underwriters a 30-day option to purchase up to an additional 700,000 common shares on the same terms and conditions. Fennec anticipates the total gross proceeds from the offering (before deducting the underwriting discounts and offering expenses) will be approximately $35,000,000, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on November 17, 2025, subject to customary closing conditions.

Fennec intends to use the net proceeds of the offering to repurchase and redeem certain indebtedness and the remaining net proceeds, if any, for working capital and general corporate purposes.

Piper Sandler & Co. and Craig-Hallum Capital Group LLC are acting as the joint book-running managers for the offering. H.C. Wainwright & Co. is acting as lead manager and Stephens Inc. is acting as co-manager for the offering.

The common shares are being offered by the Company pursuant to a registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”). A final prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus, when filed with the SEC, may also be obtained from Piper Sandler & Co., Attention: Prospectus Department, 350 North 5th Street, Suite 1000, Minneapolis, Minnesota 55401, by telephone at (800) 747-3924 or by email at [email protected] and Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 323 North Washington Ave., Minneapolis, MN 55401, by telephone at (612) 334-6300 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy common shares, nor shall there be any sale of common shares, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The common shares in the offering will not be offered or sold, directly or indirectly, in Canada or to any resident of Canada. Fennec is relying upon the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK® received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom (U.K.) approval in October 2023 under the brand name PEDMARQSI®.

In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, will commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand. PEDMARQSI® is now commercially available in the U.K. and Germany.

PEDMARK® has received Orphan Drug Exclusivity in the U.S. and PEDMARQSI® has received Pediatric Use Marketing Authorization in Europe which includes eight years plus two years of data and market protection. Further, Fennec has patents providing protection for PEDMARK® until 2039 in both the U.S. and internationally.

Forward Looking Statements

Except for historical information described in this press release, all other statements are forward-looking. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include, among other things, statements regarding the Company’s expectations on the timing, size and completion of the offering. Forward-looking statements are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including the risks and uncertainties that regulatory and guideline developments may change, scientific data and/or manufacturing capabilities may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, unforeseen global instability, including political instability, or instability from an outbreak of pandemic or contagious disease, such as the novel coronavirus (COVID-19), or surrounding the duration and severity of an outbreak, protection offered by the Company’s patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, the Company’s ability to obtain necessary capital when needed on acceptable terms or at all, and other risks detailed from time to time in the Company’s filings with the SEC including its Annual Report on Form 10-K for the year ended December 31, 2024. Fennec disclaims any obligation to update these forward-looking statements except as required by law.

For a more detailed discussion of related risk factors, please refer to our public filings available at www.sec.gov and www.sedar.com.

PEDMARK®, PEDMARQSI® and Fennec® are registered trademarks of Fennec Pharmaceuticals Inc.

©2025 Fennec Pharmaceuticals Inc. All rights reserved

For further information, please contact:

Investors:
Robert Andrade
Chief Financial Officer
Fennec Pharmaceuticals Inc.
+1 919-246-5299

Corporate and Media:
Lindsay Rocco
Elixir Health Public Relations
+1 862-596-1304
[email protected]