Market Signal Briefing

TEL AVIV, Israel & ST. LOUIS--(BUSINESS WIRE)--ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today reported its financial results for the third quarter ended September 30, 2025. Consolidated sales were $1.9 billion, up $100 million versus the prior year. Operating income was $230 million versus $214 million in the third quarter of last year, with adjusted operating income of $241 million versus $243 million. For the third quarter, net income attributable to shareholders was $115 million versus $113 million in the prior year, with adjusted net income of $124 million compared to $136 million. Adjusted EBITDA of $398 million was up 4% versus $383 million. Diluted earnings per share of $0.09 were equivalent to the third quarter of last year, with adjusted diluted EPS of $0.10 versus $0.11.

“For the third quarter, ICL delivered solid year-over-year growth in both sales and EBITDA, even as some regional and end-market performance varied. Sales were once again led by our specialties-driven businesses, with combined Industrial Products, Phosphate Solutions and Growing Solutions sales up for both the third quarter and first nine months of the year. For our Potash segment, sales increased over the same time periods on improved pricing for both contracted and spot transactions," said Elad Aharonson, president and CEO of ICL.

“We are pleased with our third quarter and year-to-date performance and are also looking toward the future. Over the past several months, we have completed an extensive and comprehensive review of our entire business. As a result of this work, we identified two main growth engines: specialty crop nutrition, which is part of Growing Solutions, and specialty food solutions, part of our Phosphate Solutions. These two growth engines are expected to drive sustainable and profitable growth for ICL in the coming years, through a combination of strategic acquisitions and focused organic initiatives. This is an exciting time for ICL, and I will be sharing an overview of our new strategy on our earnings call later today.

“As part of this strategy, we will be sharpening our focus on maximizing our core businesses, such as Potash and Industrial Products. We will also be reallocating resources to opportunities that best align with our capital allocation priorities and reevaluating non-synergistic and low-potential activities. Finally, we will maintain and expand our efforts around delivering overall portfolio optimization and cost efficiency across all activities.

"For our portfolio optimization efforts, we have shifted our approach to LFP battery materials. While we will remain a provider of raw materials to battery customers, we will not be moving further downstream into cathode active materials. This means we will be discontinuing our previously announced projects into St. Louis and Spain. This decision was made after a careful review of shifting market dynamics and reflects the impact of recent changes in government policies, including the termination of the U.S. Department of Energy grant. In addition, high investment and operating costs, combined with expected low prices, have led us to conclude the project is not currently competitive. As a result, we intend to focus our efforts on other opportunities that offer a better strategic fit and provide greater potential for ICL.

“Additionally, we recently signed a MOU with the State of Israel regarding the Dead Sea Concession. We believe ICL is the most suitable candidate for the next Concession, and this significant step forward provides ICL with long-term regulatory clarity and business certainty and both are essential for our continued operations and future growth. We further believe that it is also expected to provide greater financial and operational certainty and is likely to promote fairer and more transparent terms for the future concession. It will allow us to stay focused on our core mission - driving profitable growth in our specialty businesses and strengthening our leadership across all business segments,” concluded Aharonson.

The company reiterated its guidance for specialties-driven EBITDA of between $0.95 billion to $1.15 billion for full year 2025. For Potash, the company continues to expect sales volumes of between 4.3 million and 4.5 million metric tons. (1a)

The earnings call will begin today at 8:30 a.m. New York time (1:30 p.m. London and 3:30 p.m. Tel Aviv). The dial-in number for financial analysts in North America is (800) 549-8228, or (289) 819-1520 for international analysts, and the conference ID is 10635. Employees, the media and the public are invited to listen to the call using the webcast link found at ICL Group Investors Relations - Reports News & Events.

Key Financials

Third Quarter 2025

US$M

Ex. per share data

3Q'25

3Q'24

Sales

$1,853

$1,753

Gross profit

$604

$596

Gross margin

33%

34%

Operating income

$230

$214

Adjusted operating income (1)

$241

$243

Operating margin

12%

12%

Adjusted operating margin (1)

13%

14%

Net income attributable to shareholders

$115

$113

Adjusted net income attributable to shareholders (1)

$124

$136

Adjusted EBITDA (1)

$398

$383

Adjusted EBITDA margin (1)

21%

22%

Diluted earnings per share

$0.09

$0.09

Diluted adjusted earnings per share (1)

$0.10

$0.11

Cash flows from operating activities (2)

$308

$408

Industrial Products

Third quarter 2025

Sales of $295 million vs. $309 million.

EBITDA of $67 million vs. $65 million.

Relatively stable performance versus the prior year and in-line market expectations.

Key developments versus prior year

Flame retardants: Overall sales decreased, as bromine-based product sales declined – mainly due to continued softness in the construction end-market – however, higher prices continued to improved profitability. Both sales and profitability of phosphorous-based solutions increased, as higher volumes and prices followed the implementation of duties on Chinese imports in the United States.

Elemental bromine: Sales decreased on lower volumes, however, higher prices once again contributed to improved profitability.

Clear brine fluids: Sales remained stable.

Specialty minerals: Both sales and profitability increased on higher pricing and volume growth in the food end-market.

Potash

Third quarter 2025

Sales of $453 million vs. $389 million.

EBITDA of $169 million vs. $120 million.

Grain Price Index decreased 10.9% year-over-year, with corn up 4.7%, while rice, soybeans and wheat were down 19.8%, 3.0% and 13.3%, respectively. On a sequential basis, the Index declined 7.7%, with corn, rice, soybeans and wheat down 9.5%, 8.1%, 3.1% and 8.7%, respectively.

Key developments versus prior year

Potash price: $353 per ton (CIF).

- Up 6% on a sequential basis and 19% year-over-year.

Potash sales volumes: 1,046 thousand metric tons.

- Volumes were roughly stable on a year-over-year basis.

ICL Dead Sea and ICL Iberia

- Production improved sequentially, due in part to operational improvements.

Phosphate Solutions

Third quarter 2025

Sales of $605 million vs. $577 million.

EBITDA of $134 million vs. $140 million.

Both specialty and commodity phosphates delivered year-over-year growth in sales, with specialty performance driven by higher volumes and commodity results driven by higher prices.

Key developments versus prior year

White phosphoric acid: Sales increased on higher volumes and prices.

Industrial phosphates: Sales were up slightly, despite lower prices, as volumes were higher in North America.

Food phosphates: Sales increased on improved volumes, especially in North America and Asia Pacific.

Battery materials: Sales increased in China year-over-year, reflecting both higher volumes and prices.

Commodity phosphates: Phosphate fertilizer prices strengthened further during the quarter, as Chinese trade restrictions remained the key driver of tight availability and firmer pricing.

Growing Solutions

Third quarter 2025

Sales of $561 million vs. $538 million.

EBITDA of $50 million vs. $64 million.

Year-over-year sales growth driven by continued regional focus on specialty solutions.

Key developments versus prior year

Brazil: Sales and profit both declined year-over-year on lower volumes, due to reduced farmer affordability and a slow start to the season.

Europe: Strong growth in both sales and profit, with increased sales of specialty agriculture products.

North America: Significant increase in both sales and profit, reflecting higher volumes.

Asia: Sales increased, but rising raw materials costs impacted profit.

Segment trends: Specialty agriculture sales increased slightly, with higher volumes in the United States and India partially offset by lower volumes in Brazil. Turf and ornamental sales increased slightly, as favorable pricing offset lower quantities.

Financial Items

Financing Expenses

Net financing expenses for the third quarter of 2025 were $44 million, up versus $39 million in the corresponding quarter of last year, with the increase primarily due to net exchange rate differences and hedging transactions, partially offset by a decrease in net interest expense.

Tax Expenses

Reported tax expenses in the third quarter of 2025 were $57 million, reflecting an effective tax rate of 31%, compared to $49 million in the corresponding quarter of last year, reflecting an effective tax rate of 28%. The relatively higher effective tax rate in the quarter was primarily due to the appreciation of the average exchange rate of the Israeli shekel versus the U.S. dollar.

Available Liquidity

ICL’s available cash resources, which are comprised of cash and deposits, unutilized revolving credit facility, and unutilized securitization, totaled $1,549 million, as of September 30, 2025.

Outstanding Net Debt

As of September 30, 2025, ICL’s net financial liabilities amounted to $2,205 million, an increase of $354 million compared to December 31, 2024.

Dividend Distribution

In connection with ICL’s third quarter 2025 results, the Board of Directors declared a dividend of 4.80 cents per share, or approximately $62 million, versus 5.27 cents per share, or approximately $68 million, in the third quarter of last year. The dividend will be payable on December 17, 2025, to shareholders of record as of December 2, 2025.

About ICL

ICL Group Ltd. is a leading global specialty minerals company, which creates impactful solutions for humanity's sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company's growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2024 revenue totaled approximately $7 billion.

For more information, visit ICL’s website at icl-group.com.

To access ICL's interactive CSR report, visit icl-group-sustainability.com.

You can also learn more about ICL on Facebook, LinkedIn, YouTube, X and Instagram.

Guidance

(1a) The company only provides guidance on a non-GAAP basis. The company does not provide a reconciliation of forward-looking adjusted EBITDA (non-GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting, and quantifying certain amounts that are necessary for such reconciliation, in particular, because special items such as restructuring, litigation, and other matters, used to calculate projected net income (loss) vary dramatically based on actual events, the company is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income (loss) at this time. The amount of these deductions may be material, and therefore could result in projected GAAP net income (loss) being materially less than projected adjusted EBITDA (non-GAAP). The guidance speaks only as of the date hereof. The company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. The company provides guidance for Specialties-driven EBITDA, which includes Industrial Products, Growing Solutions and Phosphate Solutions. For the Potash business, the company is providing sales volumes guidance.

Non-GAAP Statement

The company discloses in this quarterly report non-IFRS financial measures titled adjusted operating income, adjusted net income attributable to the company’s shareholders, diluted adjusted earnings per share, and adjusted EBITDA. Management uses adjusted operating income, adjusted net income attributable to the company’s shareholders, diluted adjusted earnings per share, and adjusted EBITDA to facilitate operating performance comparisons from period to period. The company calculates adjusted operating income by adjusting operating income to add certain items, as set forth in the reconciliation table under “Adjustments to reported operating, and net income (non-GAAP)” below. Certain of these items may recur. The company calculates adjusted net income attributable to the company’s shareholders by adjusting net income attributable to the company’s shareholders to add certain items, as set forth in the reconciliation table under “Adjustments to reported operating, and net income (non-GAAP)” below, excluding the total tax impact of such adjustments. The company calculates diluted adjusted earnings per share by dividing adjusted net income by the weighted-average number of diluted ordinary shares outstanding. Adjusted EBITDA is calculated as net income before financing expenses, net, taxes on income, share in earnings of equity-accounted investees, depreciation and amortization, and certain adjustments presented in the reconciliation table under “Consolidated adjusted EBITDA, and diluted adjusted earnings per share for the periods of activity” below, which were adjusted for in calculating the adjusted operating income.

You should not view adjusted operating income, adjusted net income attributable to the company’s shareholders, diluted adjusted earnings per share or adjusted EBITDA as a substitute for operating income or net income attributable to the company’s shareholders determined in accordance with IFRS, and you should note that the company’s definitions of adjusted operating income, adjusted net income attributable to the company’s shareholders, diluted adjusted earnings per share, and adjusted EBITDA may differ from those used by other companies. Additionally, other companies may use other measures to evaluate their performance, which may reduce the usefulness of the company’s non-IFRS financial measures as tools for comparison. However, the company believes adjusted operating income, adjusted net income attributable to the company’s shareholders, diluted adjusted earnings per share, and adjusted EBITDA provide useful information to both management, and investors by excluding certain items that management believes are not indicative of ongoing operations. Management uses these non-IFRS measures to evaluate the company's business strategies and management performance. The company believes these non‑IFRS measures provide useful information to investors because they improve the comparability of financial results between periods and provide for greater transparency of key measures used to evaluate performance.

The company presents a discussion in the period-to-period comparisons of the primary drivers of change in the company’s results of operations. This discussion is based in part on management’s best estimates of the impact of the main trends on the company’s businesses. The company has based the following discussion on its financial statements. You should read such discussion together with the company’s financial statements.

Forward-looking Statements

This announcement contains statements that constitute “forward‑looking statements”, many of which can be identified by the use of forward‑looking words such as “anticipate”, “believe”, “could”, “expect”, “should”, “plan”, “intend”, “estimate”, “strive”, “forecast”, “targets” and “potential”, among others. The company is relying on the safe harbor provided in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in making such forward-looking statements.

Forward‑looking statements appear in a number of places in this announcement and include, but are not limited to, statements regarding the company intent, belief or current expectations. Forward‑looking statements are based on the company management’s beliefs and assumptions and on information currently available to the company management. Such statements are subject to risks and uncertainties, and the actual results may differ materially from those expressed or implied in the forward‑looking statements due to various factors, including, but not limited to:

Changes in exchange rates or prices compared to those we are currently experiencing; the effects of the ongoing security situation in Israel, including the nature and duration of related conflicts; loss or impairment of business licenses or mineral extractions permits or concessions; volatility of supply and demand and the impact of competition; the difference between actual reserves and the company reserve estimates; natural disasters and cost of compliance with environmental regulatory legislative and licensing restrictions including laws and regulation related to, and physical impacts of climate change and greenhouse gas emissions; failure to "harvest" salt which could lead to accumulation of salt at the bottom of the evaporation Pond 5 in the Dead Sea; disruptions at the company seaport shipping facilities or regulatory restrictions affecting the company ability to export the company products overseas; general market, political or economic conditions in the countries in which the company operates, including tariffs and trade policies; price increases or shortages with respect to the company principal raw materials; delays in termination of engagements with contractors and/or governmental obligations; the inflow of significant amounts of water into the Dead Sea which could adversely affect production at the company plants; labor disputes, slowdowns and strikes involving the company employees; pension and health insurance liabilities; disruptions from pandemics that may impact the company sales, operations, supply chain and customers; changes to governmental incentive programs or tax benefits, creation of new fiscal or tax related legislation; and/or higher tax liabilities; changes in the company evaluations and estimates, which serve as a basis for the recognition and manner of measurement of assets and liabilities; failure to integrate or realize expected benefits from mergers and acquisitions, organizational restructuring and joint ventures; currency rate fluctuations; rising interest rates; government examinations or investigations; disruption of the company, or the company service providers', information technology systems or breaches of the company, or the company service providers', data security; failure to retain and/or recruit key personnel; inability to realize expected benefits from the company cost reduction program according to the expected timetable; inability to access capital markets on favorable terms; cyclicality of the company businesses; changes in demand for the company fertilizer products due to a decline in agricultural product prices, lack of available credit, weather conditions, government policies or other factors beyond the company control; sales of the company magnesium products being affected by various factors that are not within the company control; the company ability to secure approvals and permits from the authorities in Israel to continue the company phosphate mining operations in Rotem Amfert Israel; volatility or crises in the financial markets; hazards inherent to mining and chemical manufacturing; the failure to ensure the safety of the company workers and processes; litigation, arbitration and regulatory proceedings; exposure to third party and product liability claims; product recalls or other liability claims as a result of food safety and food-borne illness concerns; insufficiency of insurance coverage; closing of transactions, mergers and acquisitions; war or acts of terror and/or political, economic and military instability in Israel and its region; including the current security tension in Israel and the resulting disruptions to the company supply and production chains; filing of class actions and derivative actions against the company, its executives and Board members; the company is exposed to risks relating to its current and future activity in emerging markets; and other risk factors discussed under ”Item 3 - Key Information— D. Risk Factors" in the company's Annual Report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 13, 2025 (the “Annual Report”).

Forward-looking statements speak only as of the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. Investors are cautioned to consider these risks and uncertainties and to not place undue reliance on such information. Forward-looking statements should not be read as a guarantee of future performance or results and are subject to risks and uncertainties, and the actual results may differ materially from those expressed or implied in the forward-looking statements.

This announcement for the third quarter of 2025 (the “Quarterly Report”) should be read in conjunction with the Annual Report of 2024 as of and for the year ended December 31, 2024 published by the company on Form 20-F and the published reports for the first and second quarters of 2025 (the "prior quarterly reports"), including the description of the events occurring subsequent to the date of the statement of financial position, as filed with the US SEC.

Appendix

Condensed Consolidated Statements of Income (Unaudited)

$ millions

Three-months ended

September 30,

Nine-months ended

September 30,

Year ended

December 31,

2025

2024

2025

2024

2024

Sales

1,853

1,753

5,452

5,240

6,841

Cost of sales

1,249

1,157

3,734

3,519

4,585

Gross profit

604

596

1,718

1,721

2,256

Selling, transport and marketing expenses

286

280

828

833

1,114

General and administrative expenses

77

63

226

191

259

Research and development expenses

16

19

53

50

69

Other expenses

3

22

30

27

60

Other income

(8

)

(2

)

(15

)

(8

)

(21

)

Operating income

230

214

596

628

775

Finance expenses

45

46

205

166

181

Finance income

(1

)

(7

)

(111

)

(59

)

(41

)

Finance expenses, net

44

39

94

107

140

Share in earnings of equity-accounted investees

-

1

-

1

1

Income before taxes on income

186

176

502

522

636

Taxes on income

57

49

159

139

172

Net income

129

127

343

383

464

Net income attributable to the non-controlling interests

14

14

44

46

57

Net income attributable to the shareholders of the Company

115

113

299

337

407

Earnings per share attributable to the shareholders of the Company:

Basic earnings per share (in dollars)

0.09

0.09

0.23

0.26

0.32

Diluted earnings per share (in dollars)

0.09

0.09

0.23

0.26

0.32

Weighted-average number of ordinary shares outstanding:

Basic (in thousands)

1,290,669

1,290,171

1,290,550

1,289,869

1,289,968

Diluted (in thousands)

1,291,403

1,290,371

1,291,428

1,290,094

1,290,039

Condensed Consolidated Statements of Financial Position as of (Unaudited)

$ millions

September 30,

2025

September 30,

2024

December 31,

2024

Current assets

Cash and cash equivalents

356

393

327

Short-term investments and deposits

120

110

115

Trade receivables

1,416

1,393

1,260

Inventories

1,778

1,591

1,626

Prepaid expenses and other receivables

377

337

258

Total current assets

4,047

3,824

3,586

Non-current assets

Deferred tax assets

165

149

143

Property, plant and equipment

6,762

6,414

6,462

Intangible assets

962

916

869

Other non-current assets

326

255

261

Total non-current assets

8,215

7,734

7,735

Total assets

12,262

11,558

11,321

Current liabilities

Short-term debt

787

606

384

Trade payables

1,016

921

1,002

Provisions

54

49

63

Other payables

964

874

879

Total current liabilities

2,821

2,450

2,328

Non-current liabilities

Long-term debt and debentures

1,894

1,845

1,909

Deferred tax liabilities

509

495

481

Long-term employee liabilities

367

339

331

Long-term provisions and accruals

246

223

230

Other

44

71

55

Total non-current liabilities

3,060

2,973

3,006

Total liabilities

5,881

5,423

5,334

Equity

Total shareholders’ equity

6,134

5,873

5,724

Non-controlling interests

247

262

263

Total equity

6,381

6,135

5,987

Total liabilities and equity

12,262

11,558

11,321

Condensed Consolidated Statements of Cash Flows (Unaudited)

$ millions

Three-months ended

September 30,

Nine-months ended

September 30,

Year ended

December 31,

2025

2024

2025

2024

2024

Cash flows from operating activities

Net income

129

127

343

383

464

Adjustments for:

Depreciation and amortization

157

140

458

439

596

Fixed assets impairment

-

7

-

7

14

Exchange rate, interest and derivative, net

72

9

32

105

152

Tax expenses

57

49

159

139

172

Change in provisions

(7

)

-

(5

)

(53

)

(50

)

Other

3

2

14

6

13

282

207

658

643

897

Change in inventories

(87

)

(14

)

(65

)

95

(7

)

Change in trade receivables

27

73

(56

)

(42

)

26

Change in trade payables

(69

)

46

(10

)

17

104

Change in other receivables

(4

)

(31

)

(23

)

(27

)

39

Change in other payables

71

22

9

4

43

Net change in operating assets and liabilities

(62

)

96

(145

)

47

205

Income taxes paid, net of refund

(41

)

(22

)

(114

)

(57

)

(98

)

Net cash provided by operating activities

308

408

742

1,016

1,468

Cash flows from investing activities

Proceeds (payments) from deposits, net

(1

)

-

(4

)

61

56

Purchases of property, plant and equipment and intangible assets

(180

)

(159

)

(572

)

(446

)

(713

)

Proceeds from divestiture of assets and businesses, net of transaction expenses

1

1

4

19

19

Proceeds (payments) from settlement of derivatives, net

6

-

(10

)

-

-

Interest received

5

4

12

14

17

Business combinations

(9

)

(50

)

(12

)

(72

)

(74

)

Other

-

-

-

-

1

Net cash used in investing activities

(178

)

(204

)

(582

)

(424

)

(694

)

Cash flows from financing activities

Dividends paid to the Company's shareholders

(55

)

(63

)

(162

)

(183

)

(251

)

Receipts of long-term debt

470

273

1,514

611

889

Repayments of long-term debt

(881

)

(307

)

(1,416

)

(919

)

(1,302

)

Receipts (repayments) of short-term debt, net

151

8

54

7

(1

)

Interest paid

(16

)

(16

)

(74

)

(79

)

(122

)

Receipts (payments) from transactions in derivatives

-

(2

)

(2

)

1

(2

)

Dividend paid to the non-controlling interests

(22

)

-

(64

)

(57

)

(57

)

Net cash used in financing activities

(353

)

(107

)

(150

)

(619

)

(846

)

Net change in cash and cash equivalents

(223

)

97

10

(27

)

(72

)

Cash and cash equivalents as of the beginning of the period

582

287

327

420

420

Net effect of currency translation on cash and cash equivalents

(3

)

9

19

-

(21

)

Cash and cash equivalents as of the end of the period

356

393

356

393

327

Adjustments to Reported Operating and Net income (non-GAAP)

$ millions

Three-months ended

September 30,

Nine-months ended

September 30,

2025

2024

2025

2024

Operating income

230

214

596

628

Charges related to the security situation in Israel

11

14

36

40

Impairment and write-off of assets and provision for site closure (1)

-

15

5

15

Fire incident at Ashdod Port

-

-

4

-

Provision for early retirement (2)

-

-

9

-

Total adjustments to operating income

11

29

54

55

Adjusted operating income

241

243

650

683

Net income attributable to the shareholders of the Company

115

113

299

337

Total adjustments to operating income

11

29

54

55

Total tax adjustments

(2

)

(6

)

(9

)

(12

)

Total adjusted net income - shareholders of the Company

124

136

344

380

Consolidated EBITDA for the Periods of activity

$ millions

Three-months ended

September 30,

Nine-months ended

September 30,

2025

2024

2025

2024

Net income

129

127

343

383

Financing expenses, net

44

39

94

107

Taxes on income

57

49

159

139

Less: Share in earnings of equity-accounted investees

-

(1

)

-

(1

)

Operating income

230

214

596

628

Depreciation and amortization

157

140

458

439

Adjustments (1)

11

29

54

55

Total adjusted EBITDA

398

383

1,108

1,122

Calculation of Segment EBITDA

$ millions

Industrial Products

Potash

Phosphate

Solutions (1)

Growing

Solutions

Three-months ended September 30,

2025

2024

2025

2024

2025

2024

2025

2024

Segment operating income

52

50

104

59

85

100

31

49

Depreciation and amortization

15

15

65

61

49

40

19

15

Segment EBITDA

67

65

169

120

134

140

50

64

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The Africa-focused developer confirmed that the lease, which grants it exclusive mining and production rights for an initial 15-year period, has been referred to Ghana’s Parliamentary Select Committee on Lands, Forestry and Mines.

The committee will review the agreement and provide a recommendation to Parliament on whether to approve it.

Chief executive Keith Muller said: “We are pleased to note that the Ewoyaa Mining Lease has been put to Parliament for consideration in the current parliamentary sitting.

"We hope that the ratification can swiftly follow, which will serve as a key catalyst for the financing and development of the project.”

The lease was originally granted in October 2023, following the completion of all required regulatory approvals. Ratification would mark the final stage in the permitting process and pave the way for Atlantic Lithium to advance funding and offtake negotiations.

The current parliamentary session began on 21 October, and the company said it remains confident that ratification will proceed in due course, though it cautioned there can be no guarantee of parliamentary approval.

Google's November Pixel Drop introduces AI-powered features and 'Wicked: For Good' theme packs, enhancing user experience with photo editing, scam alerts, and more.

Journalist

Posted: November 12, 2025

Key Takeaways
Why is TRON interesting to traders?
While many of the popular altcoins presented volatility and a lack of a clear trend, TRX formed a bullish trend as it attempted to rally past $0.3.

What are the threats facing TRX bulls?
The $0.303 and $0.328 levels are important resistances. Sustained buying pressure is necessary to establish an uptrend. 

TRON [TRX] has trended higher over the past few days, even as Bitcoin [BTC] tried and failed to move back above $108k. This relative strength for TRX has been noteworthy.

Source: TRX/USDT on TradingView

On the 1-day chart, TRON appeared to be on the verge of shifting its structure bullishly. According to the attached price chart, it has formed a series of lower highs and lower lows on the daily timeframe since the final week of August.

The closest swing points of note were highlighted in white, at $0.276 and $0.298. At the time of writing, TRX was trading at $0.299, above the downtrend’s most recent low. A daily session close above $0.298 would be a bullish shift.

The bulls’ effort to materialize this shift did not come to fruition on Tuesday, as only the day’s candlewick went past $0.298. On Wednesday, such a shift would likely occur.

The OBV has been climbing higher in recent days too. However, unlike the price, it has not pushed beyond the lower highs of the previous month’s downtrend. The RSI on the daily timeframe also signaled that bullish momentum was not established. However, it was close.

Lower timeframes show bullish signals for TRX

Source: TRX/USDT on TradingView

The 1-hour chart seemed to be much different from the daily timeframe. Its OBV and RSI signaled heavy buying pressure over the past week and strong bullish momentum. The uptrend was also clearly visible, with a retest of the $0.29-level as support after it served as a local resistance.

The recent price dip to $0.296 presented a buying opportunity. Here, it’s worth noting that the $0.3-area has been a key resistance over the past week, and needs to be breached on high trading volume. A drop below $0.296 would invalidate the bullish idea.

Finally, the liquidation heatmap showed that $0.303 and $0.328 levels were the nearby liquidity clusters to keep an eye on. A TRX bounce to these levels may be highly likely in the short term. TRON prices will likely move to $0.328 in the coming days.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories.
His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity.
Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution.
As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

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Canary Funds has finished the final step for the XRP ETF. The move comes when the firm filed a final filing that will pave the way for trading to start this Thursday.

Final Step Paves the Way for the Launch of XRP ETF
Canary Funds made its final filing with the U.S. SEC in advance of a projected launch date, according to journalist Eleanor Terrett. The filing becomes effective at 5:30 PM ET Wednesday pending Nasdaq certification. Assuming approved, the fund will begin trading first thing the following morning.

🚨NEW: @CanaryFunds has filed its Form 8-A. This is the final step before it goes effective at 5:30 PM ET Wednesday once the Nasdaq certifies the listing. When that happens, the last hurdle is cleared and the first $XRP spot ETF will be set to launch Thursday at market open. pic.twitter.com/mXvkrrXbiJ

— Eleanor Terrett (@EleanorTerrett) November 11, 2025

Nasdaq has already approved the listing of the fund under the ticker symbol “XRPC.” Details of the trust are specified in its Form S-1 registration statement filed with the SEC in late October.

Unlike the other XRP-based investment products available in the United States, Canary’s XRP ETF was filed under the Securities Act of 1933. It would therefore directly hold the token rather than getting exposure via offshore entities. That makes it a “pure-play” spot ETF, the first such for the asset.

Eleanor Terrett pointed this out shortly after clearing up comparisons to the REX Osprey XRP ETF. The fund falls under the Investment Company Act of 1940 and is only partially comprised of XRP. “Canary’s ETF will hold 100% XRP, nothing else.”

The @REXShares $XRPR ETF came first under the Investment Company (‘40) Act with *partial* spot $XRP exposure and less efficient tax treatment.

But @CanaryFunds is set to launch the first pure-play 33 Act $XRP ETF with 100% XRP, nothing else. https://t.co/lkV2iAHzXm

— Eleanor Terrett (@EleanorTerrett) November 11, 2025

Several other issuers, including Bitwise, Franklin Templeton, and 21Shares recently filed amendments removing “delaying clauses” from their filings. This opens the way for more spot XRP ETFs to launch later this month. The version from Bitwise could follow shortly. It will depend on clearance by the SEC once government operations are fully open.

Canary Capital CEO Steven McClurg was rather upbeat about the launch of the fund, envisioning significant inflows from institutional investors. Speaking to the Paul Barron Network, McClurg reiterated his previous forecast, saying,

 “If we see even $5 billion in inflows during the first month, that could put it among the top 20 ETFs ever launched, possibly top 10 if momentum continues.”

Experts Turn Bullish on XRP Prospects
Given the hype over the launch of an ETF, crypto experts have been projecting upward momentum for the Ripple coin. According to chart experts like Levi Rietveld, the token could rally. He called the recent formation of XRP a “cup and handle” pattern targeting $5 by year’s end.

Source: X
Meanwhile, veteran trader EGRAG Crypto urged investors to remain patient during the current consolidation. 

The broader crypto market is also on the rise amid speculation that the U.S. government shutdown might end this week. Traders on the prediction platform Polymarket are assigning an 86% probability to a funding resolution before November 14.

Dogecoin struggled to rise above $0.1850 and corrected some gains against the US Dollar. DOGE is now consolidating and might find bids near 0.1680.

DOGE price started a fresh downside correction below $0.180.
The price is trading below the $0.1780 level and the 100-hourly simple moving average.
There was a break below a key bullish trend line with support at $0.1750 on the hourly chart of the DOGE/USD pair (data source from Kraken).
The price could aim for a fresh increase if it remains stable above $0.1680.

Dogecoin Price Starts Another Pullback
Dogecoin price started a fresh increase after it settled above $0.1650, like Bitcoin and Ethereum. DOGE climbed above the $0.1750 resistance to enter a positive zone.

The bulls were able to push the price above $0.1800. A high was formed at $0.1859 and the price is now correcting gains. There was a move toward the 50% Fib retracement level of the upward move from the $0.1568 swing low to the $0.1859 high.

Besides, there was a break below a key bullish trend line with support at $0.1750 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading below the $0.1780 level and the 100-hourly simple moving average.

Source: DOGEUSD on TradingView.com
If there is another increase, immediate resistance on the upside is near the $0.1760 level. The first major resistance for the bulls could be near the $0.180 level. The next major resistance is near the $0.1850 level. A close above the $0.1850 resistance might send the price toward $0.1920. Any more gains might send the price toward $0.20. The next major stop for the bulls might be $0.2120.

More Losses In DOGE?
If DOGE’s price fails to climb above the $0.180 level, it could continue to move down. Initial support on the downside is near the $0.1715 level. The next major support is near the $0.170 level.

The main support sits at $0.1680 and the 61.8% Fib retracement level of the upward move from the $0.1568 swing low to the $0.1859 high. If there is a downside break below the $0.1680 support, the price could decline further. In the stated case, the price might slide toward the $0.1565 level or even $0.1520 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.1700 and $0.1680.

Major Resistance Levels – $0.1800 and $0.1850.

XRP Faces Bearish Cross Risk, Sinks 5% Even as ETFs Move FurtherThe token's ability to defend the $2.39–$2.41 range will determine if it rebounds or faces further declines.Updated Nov 12, 2025, 5:20 a.m. Published Nov 12, 2025, 5:20 a.m.

(CoinDesk Data)

What to know: XRP fell 5.1% to $2.41 as technical selloffs and whale transfers increased market uncertainty.Trading volume spiked 46% above daily averages, with sellers breaking through key support levels.The token's ability to defend the $2.39–$2.41 range will determine if it rebounds or faces further declines.The Ripple-linked token broke through multiple technical floors while whale transfers injected fresh uncertainty into an already fragile market structure.

News BackgroundXRP plunged 5.1% to $2.41 during Tuesday’s session, sliding from $2.54 as selling pressure overwhelmed key support zones. The move unfolded without direct macro catalysts, instead reflecting a technical-driven selloff amplified by volume expansion and large-scale token movements across major wallets.Tennessee-based Canary filed an 8-A form on Monday, a U.S. Securities and Exchange requirement for companies registering securities. The Canary XRP ETF would track the spot price of the fourth largest digital asset by market capitalization.Whale activity compounded volatility, with over $1 billion in XRP moved between Ripple-linked custodial addresses. While on-chain data suggested the transfers were internal rather than exchange-related, the timing created renewed uncertainty during a period of heightened technical fragility.Price Action SummaryThe decline stabilized near $2.39–$2.41 as short-term buyers stepped in to absorb selling pressure. The token rebounded modestly from $2.408 lows, climbing to $2.418 during the overnight session. Hourly data showed a 4.5% bounce off session bottoms, with volume topping 1.1 million at 02:01 UTC, suggesting opportunistic accumulation at discounted levels.Despite the brief recovery, XRP remains technically constrained. Consecutive lower highs from the $2.54 peak reflect persistent distribution patterns. Failure to regain $2.47 or reclaim broken support at $2.43 leaves the broader setup vulnerable to further downside tests.Technical AnalysisThe broader structure tilts bearish as momentum indicators flag deterioration across mid-term timeframes. The developing Death Cross pattern—where the 50-day moving average converges below the 200-day—adds to short-term caution. RSI readings hover near oversold territory, hinting at possible near-term relief, but trend confirmation requires stronger participation from institutional buyers.The 38.2% Fibonacci retracement near $2.42 defines immediate resistance, while any recovery above $2.47 could reestablish short-term balance. Beneath $2.35, however, the risk of an extended decline toward the $2.20–$2.25 zone increases sharply.What Traders Should KnowXRP’s ability to defend the $2.39–$2.41 band will determine whether the move evolves into a technical rebound or extends into deeper correction territory.The lack of panic volume on the final leg lower suggests controlled profit-taking rather than capitulation, though whale activity remains a wild card for sentiment.Institutional traders continue to monitor Ripple-related on-chain flows as potential leading indicators for liquidity-driven shifts. With broader crypto sentiment mixed, the next decisive move hinges on whether XRP can reclaim $2.47—its near-term pivot point separating stabilization from sustained downside.More For You

Inside Zcash: Encrypted Money at Planetary Scale

Nov 3, 2025

A deep dive into Zcash's zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.

What to know:

In 2025, Zcash evolved from niche privacy tech into a functioning encrypted-money network:

Shielded adoption surged, with 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.Project Tachyon, led by Sean Bowe, aims to boost throughput to thousands of private transactions per second.Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.View Full Report

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Coinbase Ends Acquisition Talks for U.K.-Based BVNK: Fortune

40 minutes ago

The negotiations, which began earlier this year and progressed to an exclusivity agreement in October, were expected to value BVNK between $1.5 billion and $2.5 billion.

What to know:

Coinbase has ended acquisition talks with the U.K.-based stablecoin startup BVNK, which could have been a major deal in digital payments.The decision to halt the talks was confirmed by a Coinbase spokesperson, but no reasons were provided.The acquisition of BVNK would have enhanced Coinbase's position in cross-border payments and merchant services.Read full story

Top Stories

A recent report by Wintermute suggests that current crypto market conditions do not favor an immediate altcoin season. Instead, the analysis indicates that bitcoin is likely to outperform altcoins in the near term.

November 12, 2025 05:24:08 UTC Canary Capital CEO Predicts XRP ETF Could Outperform Solana Steven McClurg, CEO of Canary Capital, predicts that the upcoming XRP spot ETF could outperform Solana's gains, potentially doubling its impact. The ETF is set to launch Thursday, following the final regulatory approval from the Nasdaq.

Sonic Labs now wants to reward users based on real activity on the network and long-term value. CEO Mitchell Demeter stated that the company will focus on steady growth, token burns, and fair rewards for developers, rather than pursuing quick market gains.

Demeter posted an article on X that accurately highlights this plan, stating that Sonic Labs will connect real network use, its token value, and developer rewards through updates to its system and business model. 

Sonic Labs wants to build real value on its network
CEO Mitchell Demeter said Sonic already has a fast and reliable token system, and the company wants everyone to benefit from it. Instead of chasing short-term market reactions, the plan will make sure every transaction, project, and partnership rewards builders and users in the long run.

The company will eliminate 90% of all transaction fees and allocate the remaining 10% to validators, making the remaining tokens rarer and more valuable over time. The more people build, use, and support the network, the more rewards they receive, creating a loop where participation generates value that grows with the network.

Demeter also explained that tokenholders and other participants will be able to vote on decisions about rewards, token burns, and other important rules. The system will be fair and transparent, ensuring that people who use and support the network have a say in its growth.

Sonic Labs will also ensure fair reward distribution to validators and control token provisioning, allowing the network to be sustained for a longer period.

The company will also introduce selected Ethereum Improvement Proposals (EIPs) and launch its own Sonic Improvement Proposals (SIPs) to enhance the network’s utility for real-world projects and users. Developers will receive a system that rewards them for building and connecting new applications to other networks. Sonic wants more to come on board to increase the level of activity, creating more rewards and value for everyone involved.

The rewards system boosts Sonic’s expansion, education, and engagement by institutions
Sonic Labs plans to open an office in New York City, positioning it as the headquarters for its operations and partnerships. The company aims to showcase its true value to banks and investors, and the new office will enable it to expand in areas such as marketing, communications, and sales, thereby educating the broader public. 

Sonic’s media and learning platform, GMSonic, began as a podcast, but the company has since expanded it into a comprehensive platform that shares educational content with its community members. The firm aims to educate new developers on how to utilize Sonic, recognize builders for their contributions, and inform community members about all the activities within the ecosystem. 

Sonic will also continue hosting its Sonic Global Summit and participating in other major conferences to educate people and encourage them to join its ecosystem, allowing them to benefit as well. The company aims to establish a network that fosters learning and collaboration between builders and users. In return, the platform will become stronger in the long term, and everyone will benefit from their participation.

CEO Mitchell Demeter stated that the company has a healthy treasury, a substantial pool of liquidity, and the necessary resources to expand its team and plans. He called the approach “speed with purpose,” and said the goal of the company is to build a system where everyone has a reason to participate, help the network grow, and benefit from its success. 

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TLDR:

SoFi becomes the first nationally‑chartered U.S. bank to enable retail crypto trading.
Launch covers major tokens including Bitcoin, Ethereum and Solana under one platform.
Regulatory clarity from the OCC in 2025 freed banks to advance crypto services.
SoFi’s roadmap includes stablecoin issuance and crypto‑based infrastructure extensions.

Retail customers at SoFi Technologies, Inc. (“SoFi”) can now buy, sell and hold crypto. This makes the firm the first U.S. nationally chartered bank to offer direct crypto trading. The product launch follows regulators granting clearer guidance to banks on digital assets. 

According to CEO Anthony Noto, the offering is live for retail members now, with institutional access coming soon. The move arrives as crypto adoption among consumers and institutions grows despite persistent market volatility.

SoFi Crypto Trading: What’s on Offer and Why It Matters
SoFi’s trading product allows retail users to access dozens of tokens, including Bitcoin, Ethereum and Solana, according to Reuters. 

Noto stated that the bank’s national charter and regulatory clarity from the Office of the Comptroller of the Currency (OCC) give SoFi what he described as “the best license a company can have” for crypto and blockchain services.

The product phases in initially for retail members with a wait‑list system in place. Social posts by Noto confirmed the live rollout of crypto for consumers at the bank. 

The offering positions SoFi as an institutional player preparing to bring crypto to its broader lending, stablecoin, and infrastructure roadmap. This includes a planned U.S. dollar–pegged stablecoin and crypto‑based lending products.

The timing aligns with a broader trend of banks entering digital‑asset services now that regulators are issuing clearer guidance. As analysts note, demand remains steady among clients seeking crypto access despite price fluctuations.

Regulatory Shift and Strategic Implications for Crypto Banking
Until recently, U.S. banks largely steered clear of crypto due to uncertain regulatory status. 

In spring 2025, the OCC issued guidance permitting banks with the right charter to engage in crypto and blockchain activities. Noto cited this development as a key enabler for SoFi’s launch.

SoFi’s move may influence other banks and traditional financial firms to accelerate digital‑asset offerings. The company’s prior exit from crypto services in 2023 was required during its bank charter process; its return now reflects a strategic pivot back into digital assets.

From a market standpoint, SoFi’s crypto launch could signal increasing mainstream access to digital assets through banking channels rather than crypto‑native platforms. The success of this product could shape how regulators and financial institutions view crypto integration across banking, payments and lending services.

VCI Global buys $100 million in OOB token; Tether becomes largest shareholder

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Quick Take
The Nasdaq-listed firm is acquiring $100 million worth of OOB tokens, the native token of Tether-backed crypto payment firm Oobit. 
Following the completion of the deal, Tether is expected to become the largest shareholder of VCI Global through its Oobit stake.
VCI Global, a Malaysia-based technology consulting services firm, plans to acquire $100 million worth of OOB tokens, the utility token of Tether-backed crypto payment firm Oobit.

Under the deal structure, VCI Global acquired $50 million worth of OOB tokens through restricted share issuance to the OOB Foundation, according to the company's Tuesday statement. It plans to purchase an additional $50 million in tokens on the secondary market following the token's public launch.

The Nasdaq-listed firm said that Tether is set to become its largest shareholder following the transaction.

"We are not simply completing a digital-asset transaction," said Moshe Schisser, Chairman of Oobit. "This combination presents tremendous potential to accelerate growth and expand the real-world utility of our ecosystem."

Following the $100 million transaction, VCI Global plans to establish a dedicated digital treasury division to oversee its crypto initiatives and integrate the OOB token's utility into its existing AI, fintech, and sovereign data platforms.

Token rebrandMeanwhile, the OOB token is currently undergoing major changes. Oobit is rebranding the token from its former name "OBT" and migrating the token from Ethereum to Solana this week. The rebranded token is scheduled to launch on Nov. 12.

OOB will power Oobit, which offers tap-to-pay crypto transaction services at merchant point-of-sale systems. Oobit is backed by a number of other investors including Solana co-founder Anatoly Yakovenko, CMCC Global and 468 Capital.

VCI Global is a diversified holding company that develops and scales cross-sector platforms that integrate technology with financial architecture to develop sovereign-ready digital ecosystems.

On Oct. 31, VCI Global announced a $5 million raise, where the company sold shares at $1.8 each to an institutional investor in a registered direct offering.

VCI Global's stock fell 26.55% to close at $1.3 on the Nasdaq on Tuesday, according to Yahoo Finance data. The stock has plummeted 65.79% over the past month.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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AUTHOR Timmy Shen is an Asia editor for The Block. Previously, he wrote about crypto and Web3 for Forkast.News from Taiwan after spending more than three years in Beijing covering finance, entertainment business and current affairs at Caixin Global and Chinese tech at TechNode. His China-related reporting has also appeared in The Guardian. When he's not chasing headlines, you'll find him savoring hot pot and shabu shabu in a Taipei local haunt. Timmy holds an MS degree from Columbia University Graduate School of Journalism. Send tips to [email protected] or get in touch on X/Telegram @timmyhmshen. See More

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According to a recent report by Bloomberg, the cybersecurity arm of China has openly accused the US government of orchestrating the theft of approximately $13 billion in Bitcoin (BTC), adding tension to the ongoing cyber relations between the two nations.

China Alleges State-Level Operation
The incident in question revolves around the theft of 127,272 BTC from the LuBian Bitcoin mining pool in December 2020, constituting one of the most substantial crypto heists in history. 

The Chinese National Computer Virus Emergency Response Center suggests that this large-scale hack was likely a planned “state-level hacker operation” orchestrated by the US. 

The agency points to the discreet and delayed movement of the stolen Bitcoin as indicative of governmental involvement rather than typical criminal behavior.

The report further links the Bitcoin from LuBian, a former Bitcoin mining firm, to tokens seized by the US government, which authorities claim are linked to Chen Zhi, the chairman of the Cambodian conglomerate Prince Group. 

Chen Zhi had been accused by the US of participating in a wire-fraud conspiracy and running a money-laundering scheme in October. Notably, details on when and how the Bitcoin was confiscated by the US remain undisclosed.

The narrative put forth in the report suggests that the US government might have employed hacking tactics as early as 2020 to appropriate the 127,000 Bitcoin associated with Chen Zhi, characterizing the operation as an example of a “black eats black” maneuver orchestrated by a state-level hacking entity.

Bitcoin Forfeiture Fallout
Federal prosecutors involved in the Chen case have refrained from disclosing the methods used to gain control of the Bitcoin, following the Department of Justice’s civil forfeiture complaint seizing the 127,271 BTC, which stands as the most substantial forfeiture action undertaken by the US government.

Recent statements from the Chinese government have highlighted a growing trend of accusing the American government of engaging in hacking activities. 

Earlier this year, China asserted that the US exploited vulnerabilities in Microsoft Exchange servers to target Chinese companies. Just last month, China alleged that it possessed undeniable evidence of a US cyber attack on the National Time Service Center.

In response to the allegations, a lawyer representing Chen Zhi has filed a request for additional time in a US court to allow for tracing of the stolen BTC from LuBian. The attorney, Matthew L. Schwartz has criticized the government’s claims against Chen as being “seriously misguided.” 

Schwartz, who serves as counsel to Mr. Chen and the Prince Group, stated that they are collaborating with cryptocurrency experts to trace the Bitcoin seized over a year ago and stolen back in 2020. T

The daily chart shows BTC’s consolidation above the key $100,000 level. Source: BTCUSDT on TradingView.com
At the time of writing, BTC was trading at $102,550, recording losses of 3% in the 24-hour time frame. 

Featured image from DALL-E, chart from TradingView.com 

TLDR:

Injective EVM mainnet launches with Chainlink from day one.
Data Streams enable on-demand, verifiable data for latency-sensitive dApps.
DataLink targets institutional integration and real-world assets on-chain.
Commit-and-reveal mechanism reduces frontrunning in financial applications.

Injective has officially launched its EVM-compatible mainnet, opening a new chapter for developers and institutions. From day one, Chainlink Data Streams and DataLink have been fully integrated, providing critical infrastructure. 

The platform promises high-speed transactions and multi-VM capability for on-chain finance. Developers now have tools to build advanced, latency-sensitive decentralized applications securely and efficiently.

Chainlink Integration Powers Injective’s Next-Gen Blockchain
Chainlink services were available immediately as the Injective EVM mainnet went live, ensuring seamless adoption for builders. 

Data Streams use a pull-based architecture, letting decentralized apps retrieve verified data on-demand. This setup suits trading platforms and derivatives protocols requiring minimal latency. The system employs a commit-and-reveal process to reduce frontrunning risk for real-time financial applications.

DataLink extends this capability for institutional users, supporting secure data publication and bridging capital markets to the blockchain. It allows developers to incorporate real-world assets on-chain without compromising verification or integrity. 

By combining high-speed transactions with verified data feeds, Injective positions itself as a robust environment for decentralized finance. Integrating Chainlink from launch provides Injective developers immediate access to reliable oracle infrastructure.

Institutional-grade features like DataLink aim to attract trading firms, hedge funds, and capital market participants. Secure, verifiable data is crucial for scaling decentralized applications beyond retail users. 

With this launch, Injective highlights both speed and reliability as core pillars of its blockchain ecosystem. Chainlink’s real-time data solutions are expected to enhance application trustworthiness significantly.

Congratulations to @injective on its successful EVM mainnet launch.

Chainlink Data Streams and DataLink are now live on InjectiveEVM from Day 1, providing Injective developers with the infrastructure required to build highly reliable, next-gen applications. https://t.co/bATINqLB66

— Chainlink (@chainlink) November 11, 2025

Developer Tools and Real-Time Transaction Infrastructure
Injective’s MultiVM network allows multiple virtual machines to run simultaneously, optimizing computational efficiency. Developers can leverage the EVM compatibility to port existing Ethereum dApps without extensive reconfiguration. 

On-demand data access via Data Streams minimizes delays, enabling more sophisticated financial products. The combination of Chainlink oracles and multi-VM throughput supports high-frequency trading and other latency-sensitive operations.

Security is reinforced through on-chain verification, giving developers confidence in data authenticity. Real-world asset integration opens possibilities for tokenized securities and other regulated products. 

Injective’s infrastructure targets retail and institutional participants, emphasizing scalability and reliability. The integration could accelerate adoption by bridging DeFi and traditional finance.

The platform’s design also anticipates future scaling needs, with flexible oracle networks supporting additional data types. 

Data integrity and transparency are maintained even in high-volume trading scenarios. This first-day integration demonstrates a coordinated effort between Injective and Chainlink to provide a fully functional ecosystem. Such readiness could set a standard for upcoming EVM-compatible launches.

Bitcoin falls to $103,000 as the crypto market slides amid uncertainty over the Fed's rate cut. Ethereum drops 4.7%, Solana plunges 8.8%. Analysts eye the $100,000 support level.

Newton Gitonga2 min read

12 November 2025, 06:21 AM

Major cryptocurrencies experienced significant losses on Wednesday morning as investors sought to secure profits amid mounting questions about the Federal Reserve's upcoming monetary policy decision in December. Bitcoin dropped below $103,000, while other digital assets posted steeper declines.

Bitcoin traded at $103,222 after falling 3% over the previous 24 hours, according to market data. Ethereum declined 4.7% to reach $3,434. XRP recorded a 5.3% drop to $2.40, while Solana saw the sharpest fall among major tokens, sliding 8.85% to $154.76.

The leading cryptocurrency had briefly recovered from earlier monthly lows of approximately $101,500 to reach above $106,600 before the recent selloff began. Trading activity on Tuesday pushed prices below the $103,000 threshold to around $102,600.

Technical Weakness Triggers LiquidationsMarket analysts pointed to multiple factors behind the sudden reversal. Vincent Liu, Chief Investment Officer at Kronos Research, highlighted the role of profit-taking behavior among investors. Bitcoin struggled to break through the resistance at $107,000, prompting long position holders to exit their trades.

The failure to maintain momentum above key price levels led to cascading liquidations. Leveraged positions magnified the downward pressure as automated stop-loss orders were triggered across trading platforms. Liu noted that these forced sales accelerated the decline beyond what fundamental factors alone would suggest.

A brief uptick in cryptocurrency prices had followed the U.S. Senate's approval of legislation to reopen the government. The resolution of the prolonged shutdown initially boosted risk appetite among traders. However, the positive sentiment proved short-lived as technical factors reasserted themselves.

"The macro relief rally faded fast," Liu stated. He identified $100,000 as the next critical support level for Bitcoin. A breach of this psychological barrier could unleash additional selling pressure and increase market volatility.

Federal Reserve Decision Creates UncertaintyThe Federal Reserve's upcoming policy meeting has emerged as the primary catalyst for cryptocurrency market movements. Traders had initially expected another interest rate reduction in December. Lower rates typically benefit digital assets by reducing yields on traditional investments and encouraging capital flows into riskier assets.

Fed Chair Jerome Powell recently tempered expectations about a December rate cut. His comments suggested that policymakers remain cautious about further monetary easing despite earlier indications. The shift in messaging caught some market participants off guard.

New reporting revealed growing divisions within the Federal Reserve regarding the appropriate policy stance. Officials remain split on whether economic conditions warrant another reduction in borrowing costs at the December meeting. The lack of consensus has added to investor uncertainty.

The CME Group's FedWatch Tool currently shows a 66.9% probability of a rate cut at the Fed's December 9-10 meeting. While this represents a majority expectation, it reflects less certainty than markets typically prefer when positioning for major policy shifts.

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, /PRNewswire/ -- Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, today announced a licensing agreement with AT&T for its proprietary Automated Network Testing (ANT) and Open Tool platforms. These applications deliver an advanced platform designed to transform network testing and certification across Long Term Evolution (LTE), 5G Non-Standalone (NSA), and 5G Standalone (SA) domains.

Tech Mahindra will integrate the ANT and Open Tool into its suite of telecommunications solutions, which will empower Communication Service Providers (CSPs) to conduct network health checks, connectivity tests, and debugging with unprecedented speed and precision, ensuring a robust and reliable network for the customers. The ANT platform provides a user-friendly graphical interface, a robust test execution engine, and an automated backend to simplify test execution and validation of networks. It acts as an orchestrator, seamlessly integrating with multiple external industry traffic generation tools.

Manish Mangal, President and Head – Americas Communication Business, Tech Mahindra, said, "Networks have become the invisible lifeline of our digital society, every innovation, every human connection, every leap forward depends on them. In an era of unprecedented technological change, maintaining network reliability requires testing at equally unprecedented speed and scale. Integrating these AT&T applications enables us to reimagine network reliability in the AI-native era, providing global telecom operators with a highly automated solution for end-to-end network testing and certification."

The licensing agreement represents a significant milestone in an ongoing collaboration between Tech Mahindra and AT&T, showcasing their shared commitment to innovation in the telecommunications sector. A key component of this platform is the Open Tool, a versatile data and voice traffic simulation tool developed by AT&T. This tool is crucial for certifying and validating the functionality and connectivity of the mobile packet core network in both lab and production environments.

Kelly Marlar, Vice President and Managing Director of AT&T Intellectual Property, LLC , said, "This licensing agreement highlights AT&T's dedication to innovation and the value of our technology development. Licensing relationships like the one with Tech Mahindra transform our investments into new growth opportunities for AT&T, our licensees, and the industry. By working closely with trusted third parties, AT&T Intellectual Property helps accelerate innovation, drive new revenue streams, and bring proven solutions to market faster. This agreement is a strong example of how our technology licensing program is open for business, and we look forward to collaborating with more companies to deliver value and advance the industry together."

As part of this agreement, Tech Mahindra will now offer this proven solution to wireless providers in global markets where AT&T does not operate. This license aligns with Tech Mahindra's focus on enhancing and scaling customer service for global telecom providers with advanced telecommunication technologies. With a strong presence in the telecom industry and over 250 customers across 90 countries, Tech Mahindra is a trusted transformation partner with leading capabilities in network engineering and simplifying customer experience.

Logo: https://mma.prnewswire.com/media/2804444/Tech_Mahindra_New_Logo.jpg

SOURCE Tech Mahindra

Châtillon, France, November 11, 2025

DBV Technologies Announces Last Patient Visit Completed in VITESSE Phase 3 Clinical Trial of VIASKIN® Peanut Patch in Peanut Allergic Children Aged 4-7 Years

Company remains on track for VITESSE topline data in Q4 of this year DBV Technologies (Euronext: DBV – ISIN: FR0010417345 – Nasdaq Stock Market: DBVT – CUSIP: 23306J309), a clinical-stage biopharmaceutical company, today announced that the last patient visit has been completed in the Company’s Phase 3 VITESSE clinical trial of the VIASKIN® Peanut patch in peanut allergic children aged 4-7 years.

With the completion of the double-blind, placebo-controlled treatment phase of the study, DBV remains on track to announce topline data from VITESSE in the fourth quarter of this year.

“Last patient last visit represents a very important milestone for DBV, as it brings us one step closer to the potential of bringing this treatment option to peanut allergic children, their physicians and caregivers, if approved,” stated Daniel Tassé, Chief Executive Officer of DBV Technologies. “We’re grateful to the investigators, internal teams, and most importantly patients and caregivers for their time and commitment to this study. We look forward to sharing topline results this quarter.”

The VITESSE Phase 3 trial in peanut-allergic children ages 4 – 7 is a 12-month study evaluating the efficacy and safety of the VIASKIN® Peanut patch in 654 subjects (randomized 2:1), representing individuals across 86 sites in the U.S., Canada, Europe, the UK, and Australia. VITESSE is currently the largest treatment intervention study in peanut allergy.

About DBV Technologies
DBV Technologies is a clinical-stage biopharmaceutical company developing treatment options for food allergies and other immunologic conditions with significant unmet medical need. DBV is currently focused on investigating the use of its proprietary VIASKIN® patch technology to address food allergies, which are caused by a hypersensitive immune reaction and characterized by a range of symptoms varying in severity from mild to life-threatening anaphylaxis. Millions of people live with food allergies, including young children. Through epicutaneous immunotherapy (EPIT), the VIASKIN® patch is designed to introduce microgram amounts of a biologically active compound to the immune system through intact skin. EPIT is a new class of non-invasive treatment that seeks to modify an individual’s underlying allergy by re-educating the immune system to become desensitized to allergen by leveraging the skin’s immune tolerizing properties. DBV is committed to transforming the care of food allergic people. The Company’s food allergy programs include ongoing clinical trials of VIASKIN Peanut in peanut allergic toddlers (1 through 3 years of age) and children (4 through 7 years of age).

DBV Technologies is headquartered in Châtillon, France, with North American operations in Warren, NJ. The Company’s ordinary shares are traded on segment B of Euronext Paris (Ticker: DBV, ISIN code: FR0010417345) and the Company’s ADSs (each representing five ordinary shares) are traded on the Nasdaq Capital Market (Ticker: DBVT; CUSIP: 23306J309).

For more information, please visit www.dbv-technologies.com and engage with us on X (formerly Twitter) and LinkedIn.

VIASKIN is a registered trademark of DBV Technologies.

Forward Looking Statements
This press release may contain forward-looking statements and estimates, including statements regarding the therapeutic potential of VIASKIN® Peanut patch and EPIT, designs of DBV’s anticipated clinical trials, DBV’s planned regulatory and clinical efforts including timing and results of communications with regulatory agencies, plans and expectations regarding initiation of the confirmatory study, plans and expectations with respect to the submission of BLAs to FDA, anticipated support for the BLA submission, , and the ability of any of DBV’s product candidates, if approved, to improve the lives of patients with food allergies. These forward-looking statements and estimates are not promises or guarantees and involve substantial risks and uncertainties. At this stage, DBV’s product candidates have not been authorized for sale in any country. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated generally with research and development, clinical trials and related regulatory reviews and approvals, and DBV’s ability to successfully execute on its budget discipline measures. A further list and description of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements in this press release can be found in DBV’s regulatory filings with the French Autorité des Marchés Financiers (“AMF”), DBV’s filings and reports with the U.S. Securities and Exchange Commission (“SEC”), including in DBV’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on April 11, 2025, as amended by Amendment No. 1 on Form 10-K/A filed with the SEC on April 28, 2025, and as amended further by Amendment No. 2 on Form 10-K/A filed with the SEC on May 14, 2025, and future filings and reports made with the AMF and SEC by DBV. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements and estimates, which speak only as of the date hereof. Other than as required by applicable law, DBV Technologies undertakes no obligation to update or revise the information contained in this Press Release.

Investor Contact
Katie Matthews
DBV Technologies
[email protected]

Media Contact
Brett Whelan
DBV Technologies
[email protected]

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SummaryAlphabet delivered a stellar Q3, beating top- and bottom-line estimates, with Search and Cloud segments showing robust double-digit growth.GOOGL's advancements in AI, including Gemini and ad tools, are driving revenue growth and justifying increased capex to build out AI infrastructure.My LSTM neural network model projects a 20% upside to a $349 price target, supporting a continued BUY rating despite overbought technicals.Every pullback should be viewed as a buying opportunity, as GOOGL remains a must-have for long-term investors amid ongoing AI-driven momentum. Delmaine Donson/E+ via Getty Images

Investment Thesis The last time I wrote about Alphabet (GOOGL), in July 2025, I analysed the company’s Q2 earnings report and examined the key takeaways from the quarter and their implications for investors. I

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in GOOGL over 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.

I/we have a beneficial Long position in the shares of META, AMZN either through stock ownership, options, or other derivatives.

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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Published: Nov 12, 2025, 03:34 GMT+00:00

Gold and silver extended their gains as safe-haven demand increased amid expectations of a Fed rate cut, weak U.S. data, and bullish chart setups.

Gold (XAU) price increased on Tuesday, reaching its highest level since October 23. This rally was driven by investor expectations that the Federal Reserve may cut interest rates in December.

Additionally, weak jobs data and a historic decline in consumer sentiment have further fueled the rally. The chart below shows that the US consumer sentiment has dropped to 50.3, which is the historical level.

The gold price tends to strengthen when interest rates drop. According to the FedWatch Tool, there is a 67.9% probability of a rate cut in December, which could continue to support demand for gold.

On the other hand, the U.S. dollar weakened as political uncertainty eased following a deal to end the government shutdown. The resumption of key economic data releases may confirm a softening economy. This increases the likelihood of Fed easing, an outcome that typically weighs on the dollar. While Fed officials remain cautious, voices like those of Governor Stephen Miran now suggest that a 50-basis-point cut could be on the table.

Moreover, safe-haven demand continues to support gold and silver (XAG). UBS expects gold demand to reach its highest levels since 2011. Any renewed political or financial volatility could drive gold toward $5,000 per ounce.

Similarly, other precious metals also gained this week, with silver approaching new record levels after forming strong support around the $45 region. Platinum (XPL) and palladium (XPD) also posted notable advances during the week. The combination of macroeconomic uncertainty and growing speculation over rate cuts continues to lift precious metals across the board.

Gold Technical Analysis
The weekly chart for spot gold shows that the price has been trading within an ascending channel. However, the surge in Q3 2025 pushed prices above the extension of this channel near the $4,400 region.

After this extended move, a strong correction followed, forming a bottom around the $3,900 support and initiating a solid rebound. In the short term, the price is now challenging the key $4,150 level, and a breakout above this level is required to push prices higher.

Since gold remains within a well-defined ascending channel, the overall trend is strongly bullish. Moreover, the ongoing economic and geopolitical crises may push gold to new highs heading into next year.

The 4-hour chart for spot gold shows that the price formed a strong bottom above $3,900 and broke out above the $4,030 level. Following this breakout, the price advanced into the resistance zone, reaching the lower boundary of that zone around $4,150. After hitting this resistance, gold is now consolidating as it searches for its next directional move.

As long as the price holds above $4,030, the short-term bias remains bullish. However, a clear breakout above the $4,150–$4,200 region is necessary to trigger a further rally toward the $4,400 level.

Overall, the current consolidation is a healthy development. The pause below $4,400 is constructive and suggests that the market is stabilising before a potential breakout.

Silver Technical Analysis
The daily chart for spot silver shows that the price remains in a strong short-term bullish trend. It rebounded from the key support level at $45, which aligns with the 50-day SMA. This rebound also led to a breakout above the critical $49.30 level, pushing prices to a higher level.

A breakout above the $54 level would confirm a strong bullish signal and could initiate a decisive upward move. The formation of an inverted head and shoulders pattern in Q3 2024, followed by an Adam and Eve pattern in Q1 2025, has established a solid base structure. This suggests that silver is likely to maintain its bullish momentum over the coming months.

Additionally, silver is now testing the key long-term resistance at $50-$55. A decisive breakout above this zone is expected to trigger a strong rally. The RSI is also rebounding from mid-levels, indicating strengthening bullish momentum. A sustained break above $54.50 would likely extend the rally toward the $60 level.

The 4-hour chart for spot silver shows that the price has formed an inverted head and shoulders pattern, with the neckline at the $49.30 level. A breakout above this neckline has triggered a gradual move higher. However, the price is currently consolidating around the $51.40 level, signalling some uncertainty before the next move.

A breakout above $52.60 would suggest that silver is likely to challenge new record highs. On the other hand, a drop back below $49.30 would keep the market in a consolidation phase.

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Muhammad Umair is a finance MBA and engineering PhD. As a seasoned financial analyst specializing in currencies and precious metals, he combines his multidisciplinary academic background to deliver a data-driven, contrarian perspective. As founder of Gold Predictors, he leads a team providing advanced market analytics, quantitative research, and refined precious metals trading strategies.

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NEW YORK--(BUSINESS WIRE)--Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) (“ICMB” or “Company”) today announced that it will release its financial results for the third quarter ended September 30, 2025 on Wednesday, November 12, 2025, after the close of the financial markets.

The Company will host an earnings conference call at 11:00 am (Eastern Time) on Thursday, November 13, 2025 to review its financial results and conduct a question-and-answer session. All interested parties may participate in the conference call by dialing (800) 550-9893 5-10 minutes prior to the call; international callers should dial (858) 609-8959. Participants should enter 872058# as the passcode, then press 2 when prompted. For those who are not able to listen to the call, a replay will be available shortly after the call by visiting our website at http://icmbdc.com/earnings-calls/.

About Investcorp Credit Management BDC, Inc.

The Company is an externally-managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company's primary investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation by investing in debt and related equity investments of privately held middle-market companies. The Company seeks to invest primarily in middle-market companies that have annual revenues of at least $50 million and earnings before interest, taxes, depreciation, and amortization of at least $15 million. The Company's investment activities are managed by its investment adviser, CM Investment Partners LLC. To learn more about Investcorp Credit Management BDC, Inc., please visit www.icmbdc.com.

Forward-Looking Statements

Statements included herein or on the conference call may contain "forward-looking statements," which relate to future performance or ICMB’s financial condition, are based upon current expectations and are inherently uncertain. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of assumptions, risks and uncertainties and other factors, some of which are beyond the Company’s control, including the impact of significant market volatility on the Company’s business, its portfolio companies, its industry and the global economy. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein, except as required by law. All forward-looking statements speak only as of the date of this press release.

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in ABBV over 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.

LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Alector, Inc. (“Alector” or “the Company”) (NASDAQ: ALEC) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Alector issued a press release on October 21, 2025, "announc[ing] results from the Phase 3 INFRONT-3 clinical trial evaluating latozinemab (AL001) in individuals with frontotemporal dementia due to a progranulin gene mutation (FTD-GRN)." According to the Company, its drug candidate "did not meet the clinical co-primary endpoint of slowing FTD-GRN progression," and "the secondary and exploratory endpoints, such as fluid biomarkers and volumetric magnetic resonance imaging (vMRI), demonstrated no treatment-related effects on FTD-GRN." Based on this news, shares of Alector fell by almost 50% on the next day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

NEW YORK and NEW ORLEANS, Nov. 11, 2025 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 8, 2025 to file lead plaintiff applications in a securities class action lawsuit against Marex Group plc (“Marex” or the “Company”) (NasdaqGS: MRX), if they purchased or otherwise acquired the Company’s securities between May 16, 2024 and August 5, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased shares of Marex and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-mrx/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 8, 2025.

About the Lawsuit

Marex and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On August 5, 2025, NINGI Research reported numerous allegations about the Company including, among other things, that it “has engaged in a multi-year accounting scheme involving a web of opaque off-balance-sheet entities, fictitious intercompany transactions, and misleading disclosures to conceal significant losses, inflate profits, and mask its true risk exposure” and that it has “numerous multi-million-dollar discrepancies in intercompany receivables and loans across Marex’s sprawling network of 56+ entities.” The report further identified “a $17 million receivable created out of thin air, a subsidiary whose reported profit was inflated by 150% in group filings before being liquidated, and an asset valued at $14.9 million that was sold to Robinhood for just $2.5 million weeks later, with no reported loss” and that the Company concealed nearly $1 billion in off-balance-sheet derivatives exposure through a Luxembourg fund it both controls and trades with, and that it is using the fund to generate non-cash trading profits and inflate operating cash flow by misclassifying structured note issuance as income.

On this news, the price of Marex’s shares fell $2.33, or 6.2%, to close at $35.31 per share on August 5, 2025, on unusually heavy trading volume.

The case is Narayanan v. Marex Group PLC, et al., No. 25-cv-08393.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner
[email protected] 
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

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NEW YORK and NEW ORLEANS, Nov. 11, 2025 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with substantial losses that they have until December 30, 2025 to file lead plaintiff applications in a securities class action lawsuit against Synopsys, Inc. (“Synopsys” or the “Company”) (NasdaqGS: SNPS), if they purchased or otherwise acquired the Company’s securities between December 4, 2024 and September 9, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.

What You May Do

If you purchased securities of Synopsys and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-snps/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 30, 2025.

About the Lawsuit

Synopsys and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On September 9, 2025, post-market, the Company announced its 3Q2025 financial results, disclosing quarterly revenue of $1.740 billion, missing its prior guidance of between $1.755 billion and $1.785 billion, and reported net income of $242.5 million, a 43% year-over-year decline from $425.9 million reported for 3Q 024. Further, the Company reported that its Design IP segment accounted for approximately 25% of revenue and came in at $426.6 million, a 7.7% decline year-over-year, and also provided guidance inferring that Design IP revenues will decline by at least 5% on a full-year basis in fiscal 2025.

On this news, the price of Synopsys’ shares fell $216.59, or 35.8%, to close at $387.78 per share on September 10, 2025, on unusually heavy trading volume.

The case is Kim v. Synopsis, Inc., et al., Case No. 25-cv-09410.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn