Market Signal Briefing

DLocal Limited (DLO) Q3 2025 Earnings Call November 12, 2025 5:00 PM EST

Company Participants

Mirele de Aragao - Head of Investor Relations
Pedro Arnt - CEO & Director
Jeffrey Brown - Interim Chief Financial Officer

Conference Call Participants

Daer Labarta - Goldman Sachs Group, Inc., Research Division
Matthew Coad - Truist Securities, Inc., Research Division
Guilherme Grespan - JPMorgan Chase & Co, Research Division
James Friedman - Susquehanna Financial Group, LLLP, Research Division
Neha Agarwala - HSBC Global Investment Research

Presentation

Operator

[Operator Instructions] I will now hand the call over to the company.

Mirele de Aragao
Head of Investor Relations

Good afternoon, everyone, and thank you for joining the third quarter 2025 earnings call. If you have not seen the earnings release, a copy is posted in the financial section of the Investor Relations website. On the call today, you have Pedro Arnt, Chief Executive Officer; Jeffrey Brown, Interim Chief Financial Officer; Chris Stromeyer, SVP of Corporate Development; and Mirele Aragao, Head of Investor Relations.

A slide presentation has been provided to accompany the prepared remarks. This event is being broadcast live via webcast, and both the webcast and presentation may be accessed through the dLocal website at investor.dlocal.com. The recording will be available shortly after the event is concluded.

Before proceeding, let me mention that any forward-looking statements included in the presentation or mentioned in this conference call are based on currently available information and dLocal's current assumptions, expectations and projections about future events.

Whilst the company believes that our assumptions, expectations and projections are reasonable given currently available information, you are cautioned not to place undue reliance on those forward-looking statements. Actual results may differ materially from those included in the dLocal presentation or discussed in this conference call for a variety of reasons including those described in the forward-looking statements and Risk

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**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**

VANCOUVER, British Columbia, Nov. 12, 2025 (GLOBE NEWSWIRE) --

Domestic Metals Corp. (the “Company” or “Domestic”) - (TSXV: DMCU; OTCQB: DMCUF; FSE: 03E) reports that, pursuant to their news releases dated September 15, September 30, October 9, October 15 and October 29, 2025, the Company has closed a third and final tranche of the LIFE Offering (the “Offering”) issuing an additional 2,372,137 units of the Company (“Units”) at a price of $0.28 per Unit for gross proceeds of $664,198. The total aggregate issuance under the LIFE Offering is 14,150,708 units for aggregate gross proceeds of $3,962,198.   Each Unit consists of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional share of the Company for a period of three years from the date of issuance at a price of $0.40 per share. The expiry of the Warrants may be accelerated if the closing price of the Company’s common shares on the TSX Venture Exchange (“TSXV”) is equal to or greater than $0.65 for a minimum of twenty consecutive trading days and a notice of acceleration is provided in accordance with the terms of the Warrants.

As part of the Offering, 1,912,747 Units were issued to a director of the Company, which constituted a "related party transaction" as such term is defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101”). The Company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61- 101, pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization.

Finder’s fees in the final tranche were paid to Leede Financial Inc. as to $3,335.14 cash and 13,896 non-transferable broker warrants.

The net proceeds from the Offering are intended for general working capital and exploration and development costs.

This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been nor will be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Domestic Metals Corp.

Domestic Metals Corp. is a mineral exploration company focused on the discovery of large-scale, copper and gold deposits in exceptional, historical mining project areas in the Americas.

The Company aims to discover new economic mineral deposits in historical mining districts that have seen exploration in geologically attractive mining jurisdictions, where economically favorable grades have been indicated by historic drilling and outcrop sampling.

The Smart Creek Project is strategically located in the mining-friendly state of Montana, containing widespread copper mineralization at surface and hosts 4 attractive porphyry copper, epithermal gold, replacement and exotic copper exploration targets with excellent host rocks for mineral deposition.

Domestic Metals Corp. is led by an experienced management team and an accomplished technical team, with successful track records in mine discovery, mining development and financing.

On behalf of Domestic Metals Corp.

Patricio Varas, Chairman and CEO
(604) 831-9306

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For more information on Domestic Metals, please contact:
Patricio Varas, Phone: 604-831-9306 or Michael Pound, Phone: 604-363-2885

Please visit the Company website at www.domesticmetals.com or contact us at [email protected].

For all investor relations inquiries, please contact:
John Liviakis, Liviakis Financial Communications Inc., Phone: 415-389-4670

Neither 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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements may include, without limitation, statements relating to the Offering and the planned exploration activities on properties. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to: competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of commodities; failure of equipment or processes to operate as anticipated; accidents, and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness; as well as those factors, risks and uncertainties identified and reported in the Company’s public filings under the Company’s SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Tetra Tech (TTEK - Free Report) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.4 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +12.50%. A quarter ago, it was expected that this consulting and engineering services company would post earnings of $0.37 per share when it actually produced earnings of $0.43, delivering a surprise of +16.22%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Tetra, which belongs to the Zacks Pollution Control industry, posted revenues of $1.16 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 9.12%. This compares to year-ago revenues of $1.14 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Tetra shares have lost about 19.7% since the beginning of the year versus the S&P 500's gain of 16.4%.

What's Next for Tetra?While Tetra has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Tetra was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.30 on $968 million in revenues for the coming quarter and $1.46 on $4.08 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Pollution Control is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Donaldson (DCI - Free Report) , another stock in the same industry, has yet to report results for the quarter ended October 2025. The results are expected to be released on December 4.

This maker of filtration systems is expected to post quarterly earnings of $0.92 per share in its upcoming report, which represents a year-over-year change of +10.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Donaldson's revenues are expected to be $923.52 million, up 2.6% from the year-ago quarter.

Cellebrite DI Ltd. (CLBT) Q3 2025 Earnings Call November 12, 2025 5:00 PM EST

Company Participants

Andrew Kramer - Vice President of Investor Relations
Thomas Hogan - CEO & Director
David Barter - Chief Financial Officer
Marcus Jewell - Global Chief Revenue Officer

Conference Call Participants

Jeff Van Rhee - Craig-Hallum Capital Group LLC, Research Division
Brian Essex - JPMorgan Chase & Co, Research Division
Tomer Zilberman - BofA Securities, Research Division
Louie Dipalma - William Blair & Company L.L.C., Research Division
Bhavin Shah - Deutsche Bank AG, Research Division
Shaul Eyal - TD Cowen, Research Division
Michael Cikos - Needham & Company, LLC, Research Division
Eric Martinuzzi - Lake Street Capital Markets, LLC, Research Division
Jonathan Ho - William Blair & Company L.L.C., Research Division

Presentation

Operator

Welcome to the Cellebrite Third Quarter 2025 Financial Results Conference Call. [Operator Instructions] I would now like to turn the call over to your first speaker today, Mr. Andrew Kramer. Mr. Kramer, the floor is yours.

Andrew Kramer
Vice President of Investor Relations

Thank you so much, operator. Welcome, everybody, to Cellebrite's Third Quarter 2025 Financial Results Call. I'm joined today by Tom Hogan, Cellebrite's CEO; David Barter, Cellebrite's CFO; and Marcus Jewell, our CRO. This call is being recorded, and a replay of the recording will be made available on our website shortly after the call along with a copy of our prepared remarks.

Please note a copy of today's press release and financial statements, including GAAP to non-GAAP reconciliations, is available on the Investor Relations website at investors.cellebrite.com. In addition to the press release, we posted a separate investor presentation that provides an overview of our business and our recent financial performance. I'd like to also remind everybody that the slides in your webcast viewer is a placeholder only. There are no actual slides to accompany our prepared remarks.

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WEBTOON Entertainment Inc. ( WBTN ) Q3 2025 Earnings Call November 12, 2025 4:30 PM EST Company Participants Soohwan Kim Junkoo Kim - Founder, CEO & Chairman of the Board David Lee - CFO, COO & Director Yongsoo Kim - Chief Strategy Officer & Head of Global Conference Call Participants Benjamin Black - Deutsche Bank AG, Research Division Matthew Cost - Morgan Stanley, Research Division Douglas Anmuth - JPMorgan Chase & Co, Research Division Andrew Marok - Raymond James & Associates, Inc., Research Division Presentation Unknown Executive Thank you for standing by. My name is John, and I will be your conference operator today.

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Planet 13 Holdings Inc. (OTCQX:PLNH) Q3 2025 Earnings Call November 12, 2025 5:00 PM EST

Company Participants

Larry Scheffler - Co-Chairman & Co-CEO
Steve McLean - Interim Chief Financial Officer
Robert Groesbeck - Co-Chairman & Co-CEO

Conference Call Participants

Mark Kuindersma
Kenric Tyghe - Canaccord Genuity Corp., Research Division
Pablo Zuanic - Zuanic & Associates
Brenna Cunnington - ATB Capital Markets Inc., Research Division

Presentation

Operator

Thank you for standing by. Welcome to the Planet 13 Q3 2025 Financial Results Conference Call. [Operator Instructions] I would now like to turn the conference over to Mark Kuindersma, Head of Investor Relations. Please go ahead, sir.

Mark Kuindersma

Thank you. Good afternoon, everyone, and thanks for joining us today. Planet 13 Holdings' Third Quarter 2025 financial results were released today. The press release, the company's quarterly report 10-Q, including the MD&A and financial statements, are available on the SEC's website, EDGAR and SEDAR+ as well as on our website, planet13.com. Before I pass the call over to management, we'd like to remind listeners that portions of today's discussion include forward-looking statements. The forward-looking statements in this conference call are made as of the date of this call. There can be no assurances that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize.

Risk factors that could affect results are detailed in the company's public filings that are made available with the United States Securities and Exchange Commission and on SEDAR+. We encourage listeners to read those statements in conjunction with today's call.

As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. In addition, we will refer to both GAAP and non-GAAP financial measures. For information regarding our non-GAAP financial measures

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Infratil Limited (OTCPK:IFUUF) Q2 2026 Earnings Call November 12, 2025 5:00 PM EST

Company Participants

Jason Boyes - CEO & Director
Andrew Carroll - Chief Financial Officer

Conference Call Participants

Eric Choi - Barrenjoey Markets Pty Limited, Research Division
Ben Crozier - Forsyth Barr Group Ltd., Research Division
Philip Campbell - UBS Investment Bank, Research Division
Grant Swanepoel - Jarden Limited, Research Division
Paul Mason - E&P, Research Division
Stephen Hudson - Macquarie Research
Suraj Nebhani - Citigroup Inc., Research Division
Wade Gardiner - Craigs Investment Partners Limited, Research Division

Presentation

Jason Boyes
CEO & Director

[Foreign Language] Hey, everybody. Welcome to Infratil's Half Year Results Presentation for Financial Year 2026. I'm Jason Boyes, the Chief Executive of Infratil. And I'm here with my partner in crime, Andy Carroll, the CFO. Welcome, Andy.

Andrew Carroll
Chief Financial Officer

Good morning.

Jason Boyes
CEO & Director

We're going to talk through the presentation that's been released to the NZX and ASX this morning, along with other materials for our half. And then there'll be questions as usual -- time for questions as usual at the end. So let's get into it.

Excellent to be speaking to you today on the half just gone and how we feel about the half and further ahead. In short, we feel good with recent contract wins and progress on our strategic initiatives, and strong demand for more data centers and power to run them. The portfolio is extremely well positioned for growth, including the big guns CDC and Longroad and also Gurin and potentially Kao poised to join that acceleration. Those big guns have driven the half also with their strong contracted growth starting to come through in earnings with more to come.

And when New Zealand has done a good job too in a challenging domestic environment. So with that introduction, let's go

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This article is intended to provide informational content and should not be viewed as an exhaustive analysis of the featured company. It should not be interpreted as personalized investment advice with regard to "Buy/Sell/Hold/Short/Long" recommendations. The predictions and opinions presented are based on the author's analysis and reflect a probabilistic approach, not absolute certainty. Efforts have been made to ensure the information's accuracy, but inadvertent errors may occur. Readers are advised to independently verify the information and conduct their own research. Investing in stocks involves inherent volatility, risk, and speculative elements. Before making any investment decisions, it is crucial for readers to conduct thorough research and assess their financial circumstances. The author is not liable for any financial losses incurred as a result of using or relying on the content of 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.

For the quarter ended September 2025, Pan American Silver (PAAS - Free Report) reported revenue of $854.6 million, up 19.3% over the same period last year. EPS came in at $0.48, compared to $0.32 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $867.76 million, representing a surprise of -1.52%. The company delivered an EPS surprise of -2.04%, with the consensus EPS estimate being $0.49.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Pan American Silver performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Ounces Produce - Gold (Silver and Gold Production): 183.50 Koz versus the eight-analyst average estimate of 184.11 Koz.Ounces Produce - Silver (Silver and Gold Production): 5,462.00 Koz versus the eight-analyst average estimate of 5,842.57 Koz.Ounce Production - La Colorada Operation - Gold: 1.10 Koz compared to the 0.82 Koz average estimate based on eight analysts.Ounce Production - La Colorada Operation - Silver: 1,505.00 Koz versus the eight-analyst average estimate of 1,461.62 Koz.Ounce Production - Huaron Operation - Silver: 755.00 Koz versus the eight-analyst average estimate of 818.47 Koz.Ounce Production - San Vicente Operation - Silver: 765.00 Koz versus the eight-analyst average estimate of 721.21 Koz.Ounce Production - Dolores Operation - Silver: 220.00 Koz compared to the 208.49 Koz average estimate based on eight analysts.Ounce Production - Dolores Operation - Gold: 8.10 Koz versus the eight-analyst average estimate of 6.22 Koz.Ounce Production - Shahuindo Operation - Gold: 36.30 Koz versus 34.09 Koz estimated by eight analysts on average.Ounce Production - Timmins Operation - Gold: 24.70 Koz versus the eight-analyst average estimate of 26.77 Koz.Average Realized Prices per ounce - Silver: $39.08 compared to the $39.11 average estimate based on eight analysts.Average Realized Prices per ounce - Gold: $3,479.00 versus the eight-analyst average estimate of $3,448.99.View all Key Company Metrics for Pan American Silver here>>>

Shares of Pan American Silver have returned -4.9% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Intellinetics, Inc. (INLX) Q3 2025 Earnings Call November 12, 2025 4:30 PM EST

Company Participants

Roger Grabner
James DeSocio - President, CEO & Director
Joseph Spain - CFO & COO

Conference Call Participants

Howard Halpern - Taglich Brothers, Inc., Research Division

Presentation

Operator

Greetings, and welcome to Intellinetics Third Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to Roger Grabner. Thank you, Roger. You may begin.

Roger Grabner

Thank you, and good afternoon, everyone. I'm pleased to welcome you to the Intellinetics 2025 Third Quarter Conference Call. Before we begin, I would like to remind listeners that during this conference call, comments made by management may include forward-looking statements regarding Intellinetics that are not historical facts. These forward-looking statements are based on the current expectations and beliefs of management, and they are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results.

Intellinetics undertakes no duty to update any forward-looking statements. For more information about the factors that may cause actual results to differ materially from forward-looking statements, please refer to the press release issued today as well as risks and uncertainties included in the section under the caption Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations and Intellinetics annual report on Form 10-K or the quarterly report on Form 10-Q filed today.

Also, please note that on the call today, management will discuss non-GAAP financial measures of adjusted EBITDA. Non-GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP, may differ from non-GAAP financial measures presented by other companies. A reconciliation between GAAP and non-GAAP measures can be found in the press release

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Ethereum, long considered the undisputed leader of the decentralized finance (DeFi) arena, has seen its market dominance dip below 68% as of November 2025. While it remains the largest player, the emergence of newer blockchains and evolving technologies is shaking up the landscape, potentially reshaping the future of DeFi.

Ethereum’s stronghold in the DeFi ecosystem was once unchallenged, primarily due to its early establishment and robust smart contract capabilities. Its platform enabled the creation of decentralized applications (dApps) that revolutionized finance, allowing for everything from decentralized exchanges to lending protocols. However, as the DeFi space expands, Ethereum’s share has slowly eroded, highlighting a dynamic and competitive market environment.

The rise of other blockchains presents a significant challenge to Ethereum’s dominance. Competitors like Binance Smart Chain, Solana, and Avalanche have been rapidly gaining traction. These platforms boast higher transaction speeds and lower fees, which are attractive to users and developers alike. Solana, for instance, has drawn attention for its ability to process thousands of transactions per second, while Ethereum currently handles a much lower capacity, often leading to network congestion and high gas fees.

These alternative platforms capitalize on Ethereum’s limitations by offering scalability solutions that Ethereum is striving to implement, such as its transition to Ethereum 2.0. This upgrade promises to address some of the network’s current constraints by moving from a proof-of-work to a proof-of-stake consensus mechanism, aiming to improve transaction throughput and reduce costs. However, the full implementation of Ethereum 2.0 has been slower than anticipated and remains a work in progress.

The growing interest in interoperability also plays a crucial role in this shifting landscape. More developers are building cross-chain solutions that enable seamless interaction between different blockchains. Polkadot and Cosmos are notable examples of projects facilitating this interoperability, thus allowing users to benefit from the best features of multiple networks without being locked into a single ecosystem.

Meanwhile, Ethereum’s community remains robust and proactive. The continuous development of scaling solutions, such as Layer 2 protocols like Optimism and Arbitrum, aims to alleviate some of the scalability and cost issues prevalent on the network. These solutions work by taking transactions off the main Ethereum chain, processing them separately, and then bundling them back onto the main chain, effectively increasing throughput and reducing fees.

Despite these advancements, some risks and challenges linger. Ethereum continues to grapple with security concerns, as seen in various high-profile DeFi hacks and exploits over the years. While the network is considered secure, the smart contracts running on it are as safe as the code written by developers, and vulnerabilities can lead to significant financial losses.

Additionally, regulatory pressures worldwide pose a threat to the DeFi space. Governments are increasingly scrutinizing decentralized platforms, with potential regulations that could stifle innovation or limit the functionality of DeFi applications. For instance, the United States and the European Union are exploring comprehensive regulations that could impact the operations of DeFi platforms, affecting how they interact with users and the broader financial system.

The historical growth of Ethereum in the DeFi market has been nothing short of phenomenal. The platform has underpinned the DeFi revolution by allowing users to engage in financial activities typically controlled by traditional institutions, like lending, borrowing, and earning interest, all without intermediaries. This democratization of finance has attracted global interest, pushing the DeFi market capitalization to billions of dollars. However, the increasing diversification of the market suggests that Ethereum may need to adapt to maintain its leading position.

Recent policy actions in various countries highlight the importance of regulatory adaptability for DeFi projects. Countries like Singapore have embraced blockchain technology, promoting a favorable environment for innovation, whereas others like China have imposed stringent controls, even banning certain crypto activities. Ethereum’s ability to navigate this patchwork of regulations will be crucial to its sustained dominance.

Moreover, the competitive landscape includes not only blockchain platforms but also the entrance of traditional financial institutions into the DeFi space. Major banks and financial entities are exploring blockchain technology, which could lead to new financial products that challenge Ethereum-based solutions. While this could bring about collaboration opportunities, it also intensifies competitive pressure.

A key counterpoint to Ethereum’s challenges is its established network effect and brand recognition, which continue to be significant assets. Many developers still prefer Ethereum for its vibrant ecosystem, extensive documentation, and active community support. This entrenched position provides a buffer against the rapid rise of alternatives but is not impenetrable.

Ultimately, the future of Ethereum in the DeFi market will depend on its ability to innovate while maintaining security and regulatory compliance. As new technologies develop and user demands evolve, Ethereum’s strategy to retain its DeFi leadership will need to be both forward-thinking and resilient. The crypto world watches closely as Ethereum navigates these challenges, with its next moves likely to set the tone for the industry as a whole.

Post Views: 13

Journalist

Posted: November 13, 2025

Key Takeaways
When does the Canary XRP ETF start trading?
The Canary XRP ETF will begin trading on Nasdaq on 13 November 2025, under ticker symbol XRPC.

Could XRP outperform Solana’s debut?
It is believed that the XRP ETF could achieve twice the gains Solana recorded in its first week, citing strong demand evidenced by XRP’s $143 billion market cap.

Nasdaq has confirmed the official listing notice for the Canary XRP ETF, with trading set to commence on 13 November 2025, under the ticker symbol XRPC. 

The announcement marks a watershed moment for XRP as the first spot XRP exchange-traded fund in the United States.

Source: X

The SEC received Canary Capital’s Form 8-A filing on 10 November 10, triggering automatic approval. Bloomberg senior ETF analyst Eric Balchunas confirmed that Nasdaq issued the official listing notice. 

The ETF will be listed on the Nasdaq Global Market with a management fee of 0.50%.

Can XRP match the Solana ETF launch?
The comparison to Solana is particularly relevant following the impressive debut of spot Solana ETFs in late October. Bitwise’s Solana Staking ETF [BSOL] launched on 28 October, attracting $531 million in net assets during its first week of trading. 

The fund opened with approximately $70 million in inflows on its first day and recorded positive inflows for seven consecutive trading days.

BSOL outperformed competing crypto ETFs during its launch week, with the Bitwise product alone drawing $199 million in fresh capital.

The success occurred despite broader market volatility that saw Bitcoin and Ethereum ETFs experience outflows during the same period.

The Canary XRP ETF will track the XRP-USD CCIXber Reference Rate Index. U.S. Bancorp Fund Services serves as transfer agent and administrator, while Gemini Trust Company and BitGo Trust Company handle custody.

Industry experts view the approval as a significant victory for Ripple following years of regulatory challenges. 

The launch opens new investment avenues for institutional and retail investors seeking XRP exposure through traditional brokerage accounts, eliminating the need to navigate cryptocurrency exchanges.

XRP had not reacted to the news as of this writing, trading around $2.4 with an almost 1% decline.

Dubai’s Digital Economy Court has issued its first-ever worldwide freezing order in a high-stakes legal battle involving a $456 million TrueUSD (TUSD) reserve shortfall. The dispute, which forced Tron founder Justin Sun to step in and support token holders, revolves around allegations that TUSD reserve funds were misused to finance risky ventures through Aria Commodities DMCC, a Dubai-based trade-finance firm.

According to the claimant Techteryx, the owner of TrueUSD, funds meant to back the stablecoin were allegedly diverted into Aria Commodities’ operations, including commodity shipments and mining projects in emerging markets. The transactions reportedly occurred in 2021 and 2022 via accounts managed by First Digital Trust, a Hong Kong-based trustee. Techteryx claims these actions violated custody agreements, turning liquid reserves into illiquid investments that couldn’t be redeemed when users sought withdrawals.

Aria Commodities, led by financier Matthew William Brittain, has denied wrongdoing. Brittain previously told CoinDesk that Aria’s strategies were never meant to be highly liquid or suitable for stablecoin reserves, emphasizing that liquidity mismatches were tied to term commitments rather than mismanagement.

In his October 17, 2025 ruling, Justice Michael Black KC determined that Techteryx had demonstrated a “serious issue to be tried” and a credible claim that the funds were held under a constructive trust. The court ordered the global freezing of Aria’s assets, citing concerns that Brittain could dissipate or conceal funds to evade potential enforcement.

The ruling underscores growing global scrutiny of stablecoin reserve transparency and marks a significant precedent in digital asset regulation. It highlights ongoing challenges in maintaining liquidity, governance, and trust within the crypto stablecoin ecosystem as regulators tighten oversight on cross-border fund movements.

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Chainlink’s LINK token declined 4% on Wednesday, pressured by technical resistance and overall weakness in the crypto market. The drop followed the appearance of Bitwise’s proposed Chainlink ETF on the DTCC registry under the ticker CLNK, a signal of operational readiness that stirred brief excitement among investors.

Initially, LINK surged toward $16.25, a key resistance level identified by CoinDesk’s technical model, before heavy selling took hold. More than 3.36 million LINK tokens changed hands during the 16:00 UTC hour—138% above the 24-hour average—triggering a pullback to $15.10, according to CoinDesk data.

While the DTCC listing marks a step forward in the ETF approval process, analysts cautioned that it does not guarantee SEC approval. Traders viewed it as a procedural milestone rather than a definitive bullish signal, shifting attention back to chart dynamics. The $16.15–$16.25 zone has reaffirmed itself as a strong resistance barrier, suggesting that buyers may need stronger momentum or new catalysts to push higher.

From a technical perspective, LINK is now trading within a defined range. Support is holding near $15.10, where institutional buying previously emerged, while immediate resistance stands at $15.40–$15.50. The volume spike during the breakdown confirms significant supply at higher levels, limiting upside potential in the short term.

Chart patterns show LINK moving within an ascending channel, though the latest rejection hints at potential range-bound action between $15.10 and $16.25. Upside targets remain around $15.50 and $16.00, with downside risk toward $15.00 if recovery momentum stalls.

The combination of ETF anticipation, heightened trading activity, and resistance pressures suggests that Chainlink’s near-term outlook will likely stay volatile as traders weigh regulatory progress against technical headwinds.

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McDonald’s has officially brought back the McRib to US stores, and that has unexpectedly reignited a discussion in crypto circles about Bitcoin’s next possible move.

The sandwich, which returned on Nov. 11, has been oddly linked by some traders to past Bitcoin rallies.

Bitcoin traded around $104,400 after hitting $106,000 earlier in the day, still struggling to break past $110,000.

McRib Returns And Bitcoin Buzz
The buzz started after the popular Bitcoin Archive account posted on X, saying every McRib comeback has coincided with major Bitcoin price surges.

The post listed past returns and price moves side by side, fueling debate across social media. “McDonald’s McRib signals MAJOR Bitcoin rally. Every comeback has led to explosive BTC price action,” the account wrote.

McDonald’s McRib Signals MAJOR Bitcoin Rally 🍔 🟧

Every comeback has led to explosive BTC price action:

• 2017: Nov → BTC +1,000%

• 2020: Dec → BTC +200%

• 2021: Nov → BTC to $69K ATH

• 2024: Dec → BTC new ATH $126K

The McRib returns today.

Bitcoin to the moon? 😅 pic.twitter.com/xU8hD89Axk

— Bitcoin Archive (@BitcoinArchive) November 11, 2025

The historical pattern goes like this: McRib reappeared on Nov. 2, 2017, when BTC traded at $6,745. By December that year, it hit $19,666.

In 2020, when the McRib came back on Dec. 2, BTC was $18,773 and later climbed to $64,895 by April 2022, a gain of 245%.

In 2021, the sandwich returned with Bitcoin at $61,000; nine days later, it topped $69,000, a 13% increase and a new record then.

The legendary McRib returns 11/11 at most McDonald’s in the US.

It is our most-mentioned limited-time product online, higher than other evergreen items, particularly on X.

Funnily enough and entirely independent of McDonald’s involvement, the McRib has recently found new… pic.twitter.com/R5LiuKTZiD

— Guillaume Huin (@HuinGuillaume) November 10, 2025

Analysts Weigh In On The “McRib Effect”
Zack Voell, a crypto analyst known for linking cultural moments to market shifts, resurfaced the trend in a tweet last year. He wrote:

“Here’s a look back at how Bitcoin has reacted to news that McDonald’s McRib is back on the menu. They just announced it again last week. And you’re bearish?”

Voell even shared a chart mapping the digital currency’s price against McRib announcement dates, which caught widespread attention among traders.

BTCUSD trading at $104,747 on the 24-hour chart: TradingView
Other analysts have mixed views. Some market watchers say the pattern reflects how social mood and investor psychology often shape crypto movements more than logic or data.

They point out that people tend to find patterns that fit their beliefs, even when the evidence is thin. Others describe the McRib-Bitcoin link as a meme that got too much credit, noting that in some years BTC moved the opposite way despite the sandwich’s return.

On Correlation & Causation
According to those skeptical voices, the McRib’s timing could simply line up with typical end-of-year optimism in markets. Coincidence, they say, should not be mistaken for a reliable pattern.

Analysts have also pointed out that traders often cherry-pick the examples that support the story while ignoring years when the crypto moved differently.

Still, the conversation highlights how crypto culture loves turning memes into signals. Some traders treat the McRib’s return as a symbolic marker of good times ahead, a lighthearted reminder that markets are not only driven by numbers but by mood and imagination too.

Featured image from McDonald’s/Image edited with Gemini, chart from TradingView

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Although the recent price movement of Bitcoin may appear to be a recovery on the surface, the underlying data presents a far more dire picture. Although Bitcoin has recovered above $103,000, there are no indications that this alleged uptrend is getting any stronger. The main problem is that from the perspective of market structure, the move is essentially pointless because volume has dropped to almost zero, and that situation translates to other assets like XRP and Shiba Inu too. 

Shiba Inu's future is not collapsingThe recent market performance of Shiba Inu presents a worrying picture for the short-term future of the meme coin. SHIB's trading volume has essentially collapsed despite holding above the $0.0000097 mark; this is a clear indication that interest in the token is waning. Such low levels of participation have historically preceded protracted periods of consolidation, or worse, new declines.

SHIB's daily chart has barely moved at all over the last week. While trading volume has decreased to multimonth lows, prices have been fixed in a narrow range between $0.0000090 and $0.0000100. For a speculative asset like Shiba Inu — which mainly depends on retail-driven hype and high liquidity to maintain upward momentum — the lack of significant volume is especially detrimental. 

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SHIB/USDT Chart by TradingViewWithout it, rallies quickly lose momentum, and the market becomes aimless. A bearish technical setup is also present. All of the major moving averages, including the 50- 100- and 200-day EMAs, continue to act as dynamic resistance for SHIB. Attempts to break above these resistance zones have frequently failed, and the long-term downtrend is still in place. 

The same stagnation can be seen in momentum indicators such as the RSI, which is close to 46 and indicates neutral sentiment and weak buying power. The fact that this period of low activity follows a purported recovery phase in late October that did not result in sustained buying power is more worrisome. Now that buyers are gradually giving up, that rebound appears to be a traditional bull trap.

It is getting worse for XRPWith every week that goes by, XRP's technical picture keeps getting worse, and the prospect of the token falling to $1 in the medium term becomes more plausible. The recent death cross — in which the 50-day moving average fell below the 200-day moving average — has validated traders' concerns that the bullish cycle is over and that a more severe downtrend may be beginning. 

After several rejections close to $2.60, XRP is currently trading at about $2.39, struggling to sustain any upward momentum. Converging moving averages that are currently pointing sharply downward have strengthened this level, turning it into a stronghold of resistance. 

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Fading momentum, tightening resistance and a weakening price structure all point to the market getting ready for another decline. The same story is told by volume. Given that other altcoins are attracting short-term capital inflows, the absence of significant trading activity suggests that both institutional and retail participants are losing interest in XRP. 

In the absence of an increase in buyside volume, XRP is unable to overcome overhead resistance. When the RSI is close to 47, there is not much buying or selling momentum, which is usually a sign of another bearish phase. In terms of structure, XRP has already established a series of lower highs and lower lows, which is a classic indication of a long-term decline. 

The next significant support is located close to $1.90 if the price is unable to maintain the $2.30-$2.20 range. In addition to being psychologically significant, a breakdown below that would allow for a complete retracement toward $1.00, which coincides with the final significant accumulation zone from early 2024.

Bitcoin could not bounceBitcoin has been bouncing off the $100,000 support level on the daily chart, creating a shallow upward pattern that usually indicates exhaustion rather than accumulation. Over the past week, declining trading activity has coincided with each tiny green candle. Rising prices should be accompanied by rising volume as new capital enters a healthy bull market, but in this case, volume is muted. 

BTC/USDT Chart by TradingViewThat discrepancy suggests that neither institutional buyers nor long-term holders are driving the move — only clumsy short-term traders. Concern is increased by the fact that Bitcoin is currently converging between $107,000 and $111,000, below all major moving averages, including the 50-100- and 200-day EMA's. The overall trend is still bearish, as this stacked resistance cluster confirms. 

The current rally is more likely to be a dead cat bounce than the start of a true reversal until Bitcoin breaks above this range with conviction and increased volume. Momentum is still muted, as confirmed by the RSI around 41. There is no change in sentiment or momentum strength, even with small price increases. Bitcoin's uptrend appears more like sideways drift masquerading as growth when coupled with poor liquidity and general market hesitancy. 

Bitcoin's attempt at recovery will remain hollow unless trading volume increases and buyers recover important resistance levels. This rally is structurally meaningless due to the lack of real participation, which makes it a stopgap before another possible leg down.

In a significant development for the cryptocurrency market, Bitcoin may be on the verge of a substantial price increase, potentially reaching $130,000. This prediction is based on key market data suggesting a bullish reversal for the flagship digital currency. Historically, Bitcoin has experienced numerous cycles of highs and lows, often driven by market sentiment, regulatory news, and macroeconomic trends. As the digital asset market matures, understanding these cycles provides valuable insights into future price movements.

Recently, Bitcoin’s price movement has shown signs of stabilization after a period of volatility. Analysts point to several key indicators that hint at a potential price surge. For example, the accumulation phase by large-scale investors, often referred to as “whales,” suggests renewed confidence in Bitcoin’s long-term value. These investors typically buy in large quantities during market dips, creating a foundation for future price increases.

Another significant factor contributing to the bullish outlook is the anticipated Bitcoin halving event, which historically has led to substantial price gains. The halving, an event that occurs approximately every four years, reduces the reward for mining Bitcoin transactions, effectively decreasing the supply of new coins entering the market. This reduction in supply, coupled with steady or increasing demand, has previously resulted in upward price pressure. For instance, after the 2016 and 2020 halvings, Bitcoin experienced dramatic price increases, a pattern that investors are closely monitoring this time around.

In addition to supply dynamics, macroeconomic factors are also playing a crucial role in Bitcoin’s potential price trajectory. With global inflation rates posing challenges to traditional financial systems, cryptocurrencies like Bitcoin are seen as a hedge against currency devaluation. This perception has driven increased interest from institutional investors seeking diversification from traditional assets. The influx of institutional capital not only lends credibility to the market but also increases liquidity, facilitating larger price movements.

Further supporting the bullish case for Bitcoin is the growing adoption of blockchain technology across various industries. As more companies and governments explore and implement blockchain solutions, the demand for Bitcoin and other cryptocurrencies is expected to rise. This trend is evident in sectors ranging from finance to supply chain management, where blockchain’s transparency and efficiency offer distinct advantages.

Despite these positive indicators, potential risks and challenges remain. Regulatory scrutiny continues to be a significant concern, as governments worldwide grapple with how to manage and integrate cryptocurrencies into existing financial systems. Any adverse regulatory actions could temporarily hinder Bitcoin’s price growth. Furthermore, the inherent volatility of the cryptocurrency market means that while substantial gains are possible, losses can also be swift and severe.

In the past, countries such as China have imposed strict regulations and outright bans on cryptocurrency transactions, causing temporary market downturns. However, these actions have also prompted discussions about the need for a balanced regulatory approach that protects consumers without stifling innovation. As major economies continue to debate and develop cryptocurrency policies, the market remains sensitive to any regulatory shifts.

A critical aspect of Bitcoin’s potential ascent to $130,000 is the broader adoption of digital currencies as a mainstream investment. As more retail investors enter the market, driven by user-friendly trading platforms and increased financial literacy, Bitcoin’s price dynamics are likely to evolve. This democratization of investing opens up new opportunities for wealth creation but also necessitates a robust understanding of the risks involved.

Comparatively, Bitcoin’s performance can be viewed alongside major tech stocks, which have also experienced significant growth due to innovative advancements. The cryptocurrency market’s parallels with the tech sector highlight the transformative potential of digital assets, yet also underscore the volatility associated with emerging technologies.

Innovation within the cryptocurrency space continues to drive interest in Bitcoin. The development of decentralized finance (DeFi) platforms and non-fungible tokens (NFTs) has expanded the use cases for blockchain technology, attracting a new wave of users and investors. This expansion is critical as it diversifies the ecosystem beyond mere transactional use, embedding digital currencies more deeply into the digital economy.

Looking ahead, market sentiment will likely play a pivotal role in Bitcoin’s trajectory. While technical analysis provides a framework for understanding price movements, psychological factors often dominate short-term market trends. The fear of missing out (FOMO) can drive prices upward, just as panic selling can lead to sharp declines. As Bitcoin’s price approaches new highs, managing emotions and maintaining a balanced investment strategy will be crucial for both new and seasoned investors.

In conclusion, while the road to $130,000 for Bitcoin is fraught with challenges, the convergence of key market indicators, technological advancements, and macroeconomic conditions creates a promising outlook for the digital asset. Investors should remain vigilant and informed, as the cryptocurrency market continues to evolve at a rapid pace, offering both opportunities and risks. As Bitcoin charts its course, the lessons learned from past cycles will inform future investment strategies, shaping the trajectory of not only Bitcoin but the broader cryptocurrency landscape.

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XRP’s technical outlook continues to deteriorate with each passing week, reinforcing the possibility of a medium-term drop toward the $1 mark. The recent death cross — when the 50-day moving average slipped below the 200-day moving average — has validated traders’ fears that the previous bullish cycle has ended and that a more substantial bearish trend could be developing.

After several rejections near $2.60, XRP now trades around $2.39, showing little strength to maintain upward momentum. Converging and downward-sloping moving averages have turned this zone into a formidable resistance level, making it increasingly difficult for bulls to regain control.

Market signals further confirm the weakening structure. Trading volume has been declining, a clear indication that both institutional and retail investors are losing interest. While other altcoins are seeing short-term inflows, XRP’s lack of buying activity highlights waning confidence. With the Relative Strength Index (RSI) hovering near 47, momentum remains neutral, often a precursor to further downside pressure.

From a structural standpoint, XRP has formed a consistent pattern of lower highs and lower lows, a classic signal of an extended downtrend. If the token fails to hold above the $2.30–$2.20 support range, the next significant floor lies near $1.90. A breakdown below that level could trigger a full retracement toward $1.00, aligning with the key accumulation zone established in early 2024.

Without renewed buy-side volume and a decisive breakout above resistance, XRP appears poised for continued weakness. The fading bullish sentiment, tightening resistance, and lack of strong momentum collectively suggest that a deeper correction remains likely in the weeks ahead.

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Nasdaq's imminent launch of the first pure-play XRP ETF marks a defining moment for digital assets, with the Canary XRP ETF (XRPC) set to elevate XRP into the mainstream, expand institutional participation, and deepen liquidity across regulated U.S. markets.

Key takeaways:

Dormant Bitcoin holders moving large sums to exchanges raises concerns about long-term confidence amid growing concerns about the potential impact of quantum computing.

Strong inflows into Bitcoin ETFs failed to lift sentiment, with traders instead rotating toward fast-rising privacy coins, such as ZEC and DCR.

Bitcoin (BTC) has repeatedly struggled to maintain prices above $106,000 since early November, despite the S&P 500 sitting 1% below a new all-time high. Meanwhile, gold, the traditional store of value, has pared its recent losses and now trades just 4% below its prior record of $4,380.

Many traders say that factors unique to the cryptocurrency industry may be affecting Bitcoin’s performance, but are these serious enough to keep BTC from reaching $112,000 again? 

US Dollar Index (left, red) vs. BTC/USD (right). Source: TradingView / CointelegraphThe recent strengthening of the US Dollar Index (DXY) against a basket of major currencies reflects renewed confidence in the US Treasury’s ability to manage its fiscal challenges. When investors fear stagnating growth amid persistent inflation — a scenario often described as stagflation — the domestic currency typically weakens, as monetary expansion becomes unavoidable.

For that reason, traders often highlight the long-standing inverse correlation between the DXY and Bitcoin’s price. By contrast, the US stock market tends to benefit from a stronger dollar and lower interest rates. Reduced borrowing costs lift corporate valuations, while favorable exchange rates make imported goods more affordable when priced in the local currency.

Bitcoin reserve strategy companies. Source: BitcoinTreasuries.NetCompanies pursuing Bitcoin reserve strategies, such as Strategy (MSTR) and Metaplanet (MTPLF), have previously been among the largest corporate buyers, especially when their shares traded at a premium to their underlying assets. The mNAV multiple captures this relationship, representing the value of the Bitcoin held relative to the company’s enterprise valuation.

Bitcoin price downturn erases share issuance incentive for companiesThe recent downturn in the cryptocurrency market has largely erased this advantage, removing the incentive for companies to issue additional shares. At current price levels, any new issuance would dilute existing shareholders, making it an unattractive option without a meaningful mNAV premium.

These companies can still raise funds through debt or convertible notes, but such financing is typically less beneficial for investors. Debt holders often demand collateral, which effectively reduces the amount of Bitcoin factored into a company’s enterprise value; thereby limiting potential mNAV growth.

Investor anxiety deepened after long-term Bitcoin holders, including those from 2018 or earlier, began selling amid a 20% pullback from the all-time high of $126,220. One prominent case is believed to involve Owen Gunden, an arbitrage trader from the era of the failed Japanese Mt. Gox exchange, who reportedly holds more than $1 billion worth of Bitcoin.

Source: X/emmettgallicIn the past week alone, Owen transferred more than 1,800 BTC to the Kraken exchange, valued at over $200 million. While it’s not unusual for long-dormant addresses to move funds, traders are questioning whether these transactions reflect waning long-term confidence, particularly amid growing concerns about quantum resistance and the sharp rallies in privacy-focused cryptocurrencies.

Zcash (ZEC) has surged 99% over the past 30 days, followed by a 74% gain in Decred (DCR), a 37% rise in Dash (DASH) and a 22% increase in Monero (XMR). Despite $524 million in net inflows into Bitcoin spot exchange-traded funds (ETFs) on Tuesday, buyer sentiment remains muted, leaving the odds of BTC reaching $112,000 in the near term relatively low.

The selling by long-term Bitcoin holders, persistent US dollar strength and growing interest in privacy-focused tokens are collectively restraining Bitcoin’s recovery, keeping prices under $106,000 and signaling that meaningful upside may remain limited.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

TLDR

 Bitcoin Depot has launched its first international expansion into Hong Kong, marking its entry into the Asian market.
The company aims to become one of the top five Bitcoin ATM operators in Hong Kong.
Bitcoin Depot’s operations in Hong Kong will comply with local licensing, AML, and KYC regulations.
The company’s expansion reflects the growing demand for cash-to-crypto services in the region.
Bitcoin Depot plans to compete in Hong Kong’s market, which currently has 223 Bitcoin ATMs. Monty blast.

Bitcoin Depot (Nasdaq: BTM), the largest Bitcoin ATM operator in North America, has announced its expansion into the Asian market. The company is launching operations in Hong Kong, marking its first international move into the region. The expansion aims to cater to the growing demand for cash-to-crypto services in Asia.

Bitcoin Depot’s move comes as Hong Kong positions itself as a global hub for digital assets. The company plans to become one of the top five Bitcoin ATM operators in the city. According to Bitcoin Depot’s president, Scott Buchana, “Hong Kong is quickly becoming a global center for crypto, with the right mix of regulation, demand, and momentum.”

Bitcoin Depot Focuses on Regulatory Compliance
To legally operate Bitcoin ATMs in Hong Kong, Bitcoin Depot must comply with local regulations. The company must secure a Money Service Operator license from the Customs and Excise Department. Bitcoin Depot’s spokesperson confirmed that the company has worked closely with local partners to ensure full compliance with licensing, Anti-Money Laundering (AML), and Know Your Customer (KYC) standards.

The Hong Kong government’s progressive regulatory stance has made the city attractive for cryptocurrency companies. Bitcoin Depot’s adherence to these regulations ensures its operations meet local requirements. Bitcoin Depot’s expansion reflects the increasing demand for Bitcoin ATMs in Hong Kong’s digital asset market.

Global Bitcoin ATM Numbers Rise 177%
There are currently 223 Bitcoin ATMs operating in Hong Kong, according to Coin ATM Radar. Bitcoin Depot aims to capture a portion of this growing market with its new installation of ATMs. The company’s entry into Hong Kong follows a global trend of increasing Bitcoin ATM deployments.

Bitcoin Depot’s global expansion is part of a broader trend of increasing Bitcoin ATM installations. The total number of Bitcoin ATMs worldwide has risen by 177% since 2021, reaching 39,469 machines. Bitcoin Depot, with its strong position in North America, aims to replicate its success in Hong Kong and other markets.

Bitcoin Depot’s move comes amid the growing popularity of digital assets in Hong Kong. The city continues to emerge as a digital asset innovation hub, thanks to its favorable regulatory environment. The company’s expansion signals its intention to capitalize on this momentum in the region.

TLDR

Calastone has partnered with Polygon to enhance the distribution of tokenized fund share classes.
The collaboration allows asset managers to distribute fund shares on-chain using Polygon’s blockchain infrastructure.
Calastone’s Tokenized Distribution platform now integrates Polygon’s blockchain for more efficient and cost-effective fund management.
Tokenized Fund Share Classes are digital representations of traditional mutual fund or ETF shares backed by real assets.
The integration with Polygon enables fund managers to reduce settlement times and operational costs without changing administrative processes.

Calastone has once again turned to Polygon as its tokenization technology provider. This new collaboration will enable asset managers to distribute Calastone’s Tokenized Fund Share Classes using Polygon’s blockchain.

Calastone Expands Tokenization Efforts Using Polygon’s Blockchain
Calastone has integrated Polygon’s blockchain technology into its Tokenized Distribution platform. Starting Wednesday, asset managers can use Polygon’s infrastructure to distribute fund share classes on-chain.

Simon Keefe, Head of Digital Solutions at Calastone, emphasized that “Markets are demanding more efficient, transparent infrastructure, and blockchain is ready to deliver at scale.” He highlighted the seamless connection between Calastone’s Tokenized Distribution platform and Polygon’s ecosystem.

The integration allows fund managers to tap into the benefits of blockchain technology. Polygon’s platform offers streamlined fund distribution, cutting settlement times and reducing operational costs. This advancement does not disrupt the existing administrative processes of fund managers.

Tokenized Fund Share Classes Offer Blockchain Advantages

Tokenized Fund Share Classes are digital representations of traditional mutual funds or ETF shares. These digital shares are backed by real, regulated fund units held in custody. They allow fund managers to leverage blockchain technology while keeping the structure and operations of the fund intact.

This new offering is part of Calastone’s strategy to enhance its global funds network. Calastone connects over 4,500 firms across 56 markets, providing automated order routing, settlement, and dividend services. By integrating Polygon, Calastone expands its offering to include blockchain-based solutions for the financial industry.

The Tokenized Distribution platform first launched in April, supporting Ethereum, Polygon, and Canton. With Polygon’s inclusion, fund managers now have the option to distribute shares directly on-chain.

The partnership marks a major milestone for Calastone, Polygon, and their combined global networks. Calastone’s platform can now leverage Polygon’s blockchain to reach a vast pool of capital. This move is expected to enhance the efficiency of fund distribution on a global scale.

Calastone’s extensive global network, combined with Polygon’s blockchain infrastructure, aims to make fund distribution faster and more cost-effective. As blockchain adoption grows, Polygon’s role in this ecosystem continues to expand, positioning it as a key player in the future of tokenized asset management.

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