Market Signal Briefing

SummaryiShares U.S. Home Construction ETF is rated a buy, with the recent pullback seen as a buying opportunity.Lower mortgage rates and the Fed's rate-cutting stance support a bullish outlook for ITB, despite recent volatility and cyclical risks.The fund remains attractively valued, with a forward P/E near 12x, and seasonality favors a potential year-end rally, especially in November.Technical analysis shows ITB bouncing off its 200-day moving average, with $99 as support and $118 as resistance amid mixed market sentiment. Yobro10/iStock via Getty Images

History reveals that there’s rarely a graceful and elegant rate-cutting cycle. The Fed began lowering its policy rate in September 2024, and at the time, it was for somewhat sanguine reasons. Yes, there was a modest growth scare in Q3

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Businesses report AI momentum – but foundational gaps in tech and talent now define the next phase of progress

, /PRNewswire/ -- Kyndryl (NYSE: KD), a leading provider of mission-critical enterprise services, today released its second annual Kyndryl Readiness Report, drawing on responses from 3,700 senior leaders across 21 countries. The data reveals an instance of momentum and reflection – as businesses report growing returns from AI investments while facing mounting pressure to modernize infrastructure, scale innovation efforts, reskill workforces and manage risk in an increasingly fragmented regulatory landscape.

"A readiness gap exists as enterprises grapple with the promise of transformative value from AI," said Martin Schroeter, Chairman and CEO of Kyndryl. "While 90% of organizations think they have the tools and processes to scale innovation, more than half are stalled by their tech stack, and less than a third say their employees are truly ready for AI. Closing that gap is the challenge and opportunity ahead."

Last year's report revealed a critical gap between perception and preparedness: while 90% of business leaders believed their IT infrastructure was best in class, only 39% felt it was ready for future disruption. While there has been momentum – that tension remains. This year:

ROI on the rise, but AI stuck in experimentation phase: While 54% of organizations reported seeing positive returns on AI investments – an increase of 12 points from 2024 – 62% still haven't advanced their AI projects beyond the pilot stage.
Confidence continues to outweigh capability: While 90% say their tools and processes allow them to rapidly test and scale new ideas, more than half say their foundational technology stack holds back innovation.
AI driving workforce transformation, but skills gaps remain: 87% say AI will "completely" transform jobs at their organizations within 12 months, even though many say their employees are not using AI frequently today and few have the technical skills necessary.
Geopolitical pressures forcing a data pivot: While reporting clear benefits from cloud adoption, organizations are now reevaluating where and how their data is stored, processed, accessed and secured amid an increasingly fragmented regulatory landscape. Businesses are also balancing legacy infrastructure challenges, with 70% of CEOs saying they reached their cloud setup "by accident rather than design."

AI spending rises along with ROI expectations – with cyber resilience top of mind

Business leaders across all industries and countries say their company's AI spending jumped 33% on average since last year, with 68% investing "heavily" in at least one form of AI. As AI investments rise, so does the pressure to show value – and protect it. Three in five leaders say they feel more pressure this year to deliver ROI from AI than last. Their top use case? Cybersecurity.

Cloud is under pressure as geopolitical and regulatory disruption drive change

Many organizations are also revisiting their cloud infrastructure, prompted by new global regulations and growing concerns about data sovereignty. Three in four leaders report concerns about the geopolitical risks associated with storing and managing data in global cloud environments, and 65% have adjusted their cloud strategies in response – by investing in data repatriation, reassessing vendors, and shifting toward private cloud models.

Talent and Culture – the next readiness frontier

As leaders look to scale innovation, people readiness is emerging as a key barrier – and a key opportunity. While nearly 9 in 10 believe AI will completely reshape jobs in the next year, only 29% feel their workforce is ready to successfully leverage the technology and concerns remain around the skills needed to succeed in this era. Many organizations are also battling cultural barriers – with nearly half of CEOs reporting their organization stifles innovation (48%) and moves too slowly in decision-making (45%). Those pulling ahead – dubbed "Pacesetters" in the report – aren't just investing in innovation. They're uniquely prioritizing culture, upskilling and leadership alignment.

Compared to organizations who are lagging in these areas, Pacesetters are:

32 points less likely to cite their tech stack as a barrier
30 points more likely to say their cloud can adapt to new regulations
20 points less likely to report a cyber-related outage in the past year

To read the report, visit Kyndryl's Readiness Report.

Methodology

The 2025 Kyndryl Readiness Report combines survey data from 3,700 senior leaders and decision-makers across 21 countries with insights from Kyndryl Bridge, the company's AI-powered, open integration digital business platform. The Report uncovers the drivers, barriers and trade-offs that can make or break the ability of organizations to protect, sustain and accelerate their performance and future-proof their mission-critical processes.

About Kyndryl
Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services, offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world's largest IT infrastructure services provider, the company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit www.kyndryl.com.

Kyndryl press contact
[email protected]

SOURCE Kyndryl

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October 20, 2025 12:15 AM EDT | Source: Manganese X Energy Corp.
Montreal, Quebec--(Newsfile Corp. - October 20, 2025) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB: MNXXF) ("Manganese X" or the "Company") spokesperson, CEO Martin Kepman, stressed the urgency of establishing a North American battery materials supply chain due to China's recently imposed stringent export controls on critical minerals.

China's new export control regulations, taking effect November 8, 2025, impose export controls on high-performance lithium-ion batteries, cathode materials, including lithium iron phosphate (LFP), ternary precursors, and lithium-rich manganese-based materials, as well as graphite anode materials and key production technologies.

Kepman stated, "These measures represent a significant escalation in China's control over the export of critical materials essential to global EV, battery energy storage system (BESS) and defence industries. The restrictions are expected to disrupt international supply chains and accelerate the push for North American and European self-sufficiency in battery material production."

He added, "China's latest export controls underscore the urgency of establishing a secure and independent North American battery materials supply chain. Manganese X's Battery Hill manganese project, located in Woodstock, New Brunswick, Canada, is a vital step towards ensuring a domestic production of high-purity manganese (HPMSM) — a key ingredient in next-generation EV cathode chemistries such as lithium manganese-rich (LMR), lithium manganese iron phosphate (LMFP) and nickel manganese cobalt (NMC)."

Manganese X, with its Battery Hill manganese deposit, is strategically positioned to help fill this emerging supply gap. The Company's mission has long been to supply ethically sourced, high-quality manganese materials for the North American EV and energy storage markets, reducing dependency on foreign — particularly Chinese — processing capacity.

Manganese is an increasingly critical component in high-performance and cost-efficient EV batteries. The addition of manganese chemistries enhances energy density, stability, and range — properties now sought after by leading battery and automotive manufacturers worldwide.

"The geopolitical landscape for critical minerals is shifting rapidly," said Kepman. "Our goal is to position Manganese X as a cornerstone supplier of North American high purity manganese, fully aligned with government initiatives promoting energy security, economic resilience, and clean technology leadership."

As nations adjust to these new trade dynamics, Manganese X remains committed to supporting the growth of a sustainable, transparent, and regionally secure EV battery and back up energy ecosystem across North America.

About Manganese X Energy Corp.

Manganese X's mission is to advance its Battery Hill project into production, thereby becoming the first public actively traded manganese mining company in Canada and US to commercialize EV compliant high purity manganese, potentially supplying the North American supply chain. The Company intends on supplying value-added materials to the lithium-ion battery and other alternative energy industries, as well as striving to achieve new carbon-friendly more efficient methodologies, while processing manganese at a lower competitive cost.

For more information visit the Company's website at www.manganesexenergycorp.com.

On behalf of the Board of Directors of
MANGANESE X ENERGY CORP.

Martin Kepman
CEO and Director
Email: [email protected]
Tel: 1-514-802-1814

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

Cautionary Note Regarding Forward-Looking Statements:

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Manganese X, are forward-looking statements. Forward-looking statements in this news release relate to the effect of China's export controls, and the effective date thereof, on critical minerals, the supply chain of battery minerals and any disruption thereto, and the Company's goals and plans to support a North American battery materials supply chain through the development of its Battery Hill manganese deposit. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Manganese X, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. These risks, as well as others, are disclosed within the Company's filings on SEDAR+ (www.sedarplus.ca), which investors are encouraged to review prior to any transaction involving the securities of the Company. Readers should not place undue reliance on the forward-looking statements. Manganese X does not assume any obligation to update the forward-looking statements if beliefs, opinions, projections, or other factors, should change, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271017

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

– FDA approval based on superiority of Gazyva over standard therapy alone, as shown in Phase II NOBILITY and Phase III REGENCY data –

– Gazyva is the only anti-CD20 monoclonal antibody to demonstrate a complete renal response benefit in lupus nephritis in a randomized Phase III study –

– Lupus nephritis affects more than 1.7 million people worldwide, predominantly women of color and childbearing age, with up to one third of patients progressing to end-stage kidney disease –

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), announced today that the U.S. Food and Drug Administration (FDA) has approved Gazyva® (obinutuzumab) for the treatment of adult patients with active lupus nephritis (LN) who are receiving standard therapy, as well as a shorter 90-minute infusion time after the first infusion, for eligible patients. Following four initial doses in the first year, Gazyva can be administered twice yearly, offering an effective and potentially more convenient treatment option than traditional targeted therapies.

“People with lupus nephritis who achieve a complete renal response are more likely to experience preserved kidney function and delay, or even prevention, of progression to end-stage kidney disease,” said Levi Garraway, M.D., Ph.D., chief medical officer and head of Global Product Development. “The approval of Gazyva by the FDA marks an important step towards a potential new standard of care for lupus nephritis, one that could allow clinicians to offer their patients more effective disease control.”

“As a severe and potentially life-threatening disease, lupus nephritis greatly disrupts daily life with chronic pain, fatigue, and the constant fear of worsening kidney health,” said Louise Vetter, President and Chief Executive Officer, Lupus Foundation of America. “The FDA’s approval of Gazyva offers renewed hope for people with lupus nephritis and their loved ones, as it provides an important new treatment option that has the potential to prevent long-term complications, including kidney failure.”

This approval is based on positive results from the Phase II NOBILITY and Phase III REGENCY studies. In REGENCY, data showed that nearly half of the participants (46.4%) on Gazyva in combination with standard therapy achieved a complete renal response (CRR) compared to 33.1% on standard therapy alone. This was accompanied by clinically meaningful improvements in complement levels and reductions in anti-dsDNA, corticosteroid use, and proteinuria, all signaling improved disease control. The safety profile of Gazyva was consistent with the well-characterized profile observed in its hematology-oncology indications.

Lupus nephritis affects more than 1.7 million people worldwide. It disproportionately impacts women, mostly women of color and of childbearing age, who often face more severe disease. If left untreated, up to one-third of individuals can progress to end-stage kidney disease, which often requires dialysis or transplantation.

Gazyva was granted Breakthrough Therapy Designation by the FDA in 2019 based on data from the Phase II NOBILITY study. The European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) recently issued a positive opinion recommending the approval of Gazyva for adults with active lupus nephritis, with a final decision from the European Commission expected in the near future.

Gazyva is being investigated in people with systemic lupus erythematosus, membranous nephropathy, idiopathic nephrotic syndrome, and in children and adolescents with lupus nephritis. In addition to Gazyva, Genentech has a broad pipeline targeting the immune drivers of rare and common kidney and kidney-related diseases.

About Gazyva

Gazyva® (obinutuzumab) is a Type II engineered humanized monoclonal antibody designed to attach to CD20, a protein found on certain types of B cells. In lupus nephritis, disease-causing B cells drive persistent inflammation that damages the kidneys and reduces their ability to function properly. Data suggests that Gazyva depletes disease-causing B cells, helping to limit further damage to the kidneys and potentially preventing or delaying progression to end-stage kidney disease.

Gazyva is already approved in 100 countries for various types of hematological cancers. In the United States, Gazyva is part of a collaboration between Genentech and Biogen.

About the REGENCY Study

REGENCY [NCT04221477] is a Phase III, randomized, double-blind, placebo-controlled, multicenter study investigating the efficacy and safety of Gazyva® (obinutuzumab) plus standard therapy (mycophenolate mofetil and glucocorticoids) in people with active/chronic International Society of Nephrology/Renal Pathology Society 2003 proliferative Class III or IV lupus nephritis, with or without Class V. The study enrolled 271 people, who were randomized 1:1 to receive either Gazyva plus standard therapy or placebo plus standard therapy. REGENCY was designed based on robust Phase II data and conducted during the COVID-19 pandemic. The study population was representative of the real-world population of people with lupus nephritis.

About Lupus Nephritis

Lupus nephritis is a potentially life-threatening manifestation of systemic lupus erythematosus (SLE), an autoimmune disease that commonly affects the kidneys. Lupus nephritis is characterized by an irreversible loss of nephrons, the filtering structures of the kidneys. Periods of intense disease activity, known as flares, can speed up the loss of nephrons and be left unchecked, leading to a progressive loss of kidney function. Even with the latest treatments, up to a third of people will progress to end-stage kidney disease, where dialysis or transplant are the only options and life expectancy and quality of life are substantially reduced.

Lupus nephritis affects more than 1.7 million people worldwide - predominantly women, mostly of color and usually of childbearing age. Currently, there is no cure.

Indication

GAZYVA® (obinutuzumab) is indicated for the treatment of adult patients with active lupus nephritis (LN) who are receiving standard therapy

Important Safety Information

The most important safety information patients should know about GAZYVA

Patients must tell their doctor right away about any side effect they experience. GAZYVA can cause side effects that can become serious or life-threatening, including:

Hepatitis B Virus (HBV): Hepatitis B can cause liver failure and death. If the patient has a history of hepatitis B infection, GAZYVA could cause it to return. Patients should not receive GAZYVA if they have active hepatitis B liver disease. The patient’s doctor or healthcare team will need to screen them for hepatitis B before, and monitor the patient for hepatitis during and after, their treatment with GAZYVA. Sometimes this will require treatment for hepatitis B. Symptoms of hepatitis include: worsening of fatigue and yellow discoloration of skin or eyes

Progressive Multifocal Leukoencephalopathy (PML): PML is a rare and serious brain infection caused by a virus. PML can be fatal. The patient’s weakened immune system could put them at risk. The patient’s doctor will watch for symptoms. Symptoms of PML include: confusion, difficulty talking or walking, dizziness or loss of balance, and vision problems

Who should not receive GAZYVA:

Patients should NOT receive GAZYVA if they have had an allergic reaction (e.g., anaphylaxis or serum sickness) to GAZYVA. Patients must tell their healthcare provider if they have had an allergic reaction to obinutuzumab or any other ingredients in GAZYVA in the past.

Additional possible serious side effects of GAZYVA:

Patients must tell their doctor right away about any side effect they experience. GAZYVA can cause side effects that may become severe or life-threatening, including:

Infusion-Related Reactions: These side effects may occur during or within 24 hours of any GAZYVA infusion. Some infusion-related reactions can be serious, including, but not limited to, severe allergic reactions (anaphylaxis), acute life-threatening breathing problems, or other life-threatening infusion-related reactions. If the patient has a reaction, the infusion is either slowed or stopped until their symptoms are resolved. Most patients are able to complete infusions and receive medication again. However, if the infusion-related reaction is life-threatening, the infusion of GAZYVA will be permanently stopped. The patient’s healthcare team will take steps to help lessen any side effects the patient may have to the infusion process. The patient may be given medicines to take before each GAZYVA treatment. Symptoms of infusion-related reactions may include: fast heartbeat, tiredness, dizziness, headache, redness of the face, nausea, chills, fever, vomiting, diarrhea, rash, high blood pressure, low blood pressure, difficulty breathing, and chest discomfort

Hypersensitivity Reactions Including Serum Sickness: Some patients receiving GAZYVA may have severe or life-threatening allergic reactions. This reaction may be severe, may happen during or after an infusion, and may affect many areas of the body. If an allergic reaction occurs, the patient’s doctor will stop the infusion and permanently discontinue GAZYVA

Serious, Including Fatal, Infections: While the patient is taking GAZYVA, they may develop infections. Some of these infections may be fatal and severe, so the patient should be sure to talk to their doctor if they think they have an infection. Patients with a history of recurring or chronic infections may be at an increased risk of infection. Patients with an active infection should not be treated with GAZYVA. Patients taking GAZYVA plus standard therapy may be at higher risk for fatal or severe infections compared to patients taking standard therapy plus placebo. If you develop a serious infection, your doctor will immediately discontinue GAZYVA and begin treatment for the infection

Low White Blood Cell Count: When the patient has an abnormally low count of infection-fighting white blood cells, it is called neutropenia. While the patient is taking GAZYVA, their doctor will do blood work to check their white blood cell count. Severe and life-threatening neutropenia can develop during or after treatment with GAZYVA. Some cases of neutropenia can last for more than one month. If the patient’s white blood cell count is low, their doctor may prescribe medication to help prevent infections

Low Platelet Count: Platelets help stop bleeding or blood loss. GAZYVA may reduce the number of platelets the patient has in their blood; having low platelet count is called thrombocytopenia. This may affect the clotting process. While the patient is taking GAZYVA, their doctor will do blood work to check their platelet count. Severe and life-threatening thrombocytopenia can develop during treatment with GAZYVA. Fatal bleeding events have occurred in patients treated with GAZYVA. If the patient’s platelet count gets too low, their treatment may be delayed or reduced

Disseminated Intravascular Coagulation (DIC): Fatal and severe DIC has been reported in people receiving GAZYVA. DIC is a rare and serious abnormal blood clotting condition that should be monitored and managed by the patient’s doctor as it can lead to uncontrollable bleeding

The most common side effects of GAZYVA in LN were upper respiratory tract infection, COVID-19, urinary tract infection, bronchitis, pneumonia, infusion infusion-related reactions, and neutropenia.

Before receiving GAZYVA, patients should talk to their doctor about:

Immunizations: Before receiving GAZYVA therapy, the patient should tell their healthcare provider if they have recently received or are scheduled to receive a vaccine. Patients who are treated with GAZYVA should not receive live vaccines

Pregnancy: The patient should tell their doctor if they are pregnant, think that they might be pregnant, plan to become pregnant, or are breastfeeding. GAZYVA may harm their unborn baby. The patient should speak to their doctor about using GAZYVA while they are pregnant. The patient should talk to their doctor or their child’s doctor about the safety and timing of live virus vaccinations to their infant if they received GAZYVA during pregnancy. Women of childbearing potential should use effective contraception while taking GAZYVA and for 6 months after your GAZYVA treatment

Breastfeeding: Because of the potential risk of serious side reactions in breastfed children, patients should not breastfeed while taking GAZYVA and for 6 months after your last dose

Patients should tell their doctor about any side effects.

These are not all of the possible side effects of GAZYVA. For more information, patients should ask their doctor or pharmacist.

GAZYVA is available by prescription only.

Report side effects to the FDA at (800) FDA-1088, or http://www.fda.gov/medwatch. Report side effects to Genentech at (888) 835-2555.

Please visit https://www.GAZYVA.com for the GAZYVA full Prescribing Information, including BOXED WARNINGS, for additional Important Safety Information.

About Genentech in Immunology

Genentech is committed to harnessing pioneering science and innovation to address critical unmet needs for patients with immune-mediated inflammatory diseases. Our pipeline includes over a dozen of clinical programs in immunology aiming to transform care for people living with lupus, MASH, ulcerative colitis, Crohn’s disease, immunoglobulin A nephropathy, idiopathic nephrotic syndrome, atopic dermatitis, and rheumatoid arthritis. We are investing end-to-end in immunology from discovery and R&D to commercialization across a variety of modalities including monoclonal antibodies, bispecifics, and CAR-T cell therapies to help solve some of the most difficult challenges in immunology today.

About Genentech

Founded nearly 50 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes medicines to treat patients with serious and life-threatening medical conditions. The company, a member of the Roche Group, has headquarters in South San Francisco, California. For additional information about the company, please visit http://www.gene.com.

, /PRNewswire/ -- ZEEKR Intelligent Technology Holding Limited ("Zeekr Group" or the "Company") (NYSE: ZK), the world's leading premium new energy vehicle group, today announced that it will report its unaudited financial results for the third quarter ended September 30, 2025, before the U.S. markets open on Monday, November 17, 2025.

About Z eekr Group

Zeekr Group, headquartered in Zhejiang, China, is the world's leading premium new energy vehicle group from Geely Holding Group. With two brands, Lynk & Co and Zeekr, Zeekr Group aims to create a fully integrated user ecosystem with innovation as a standard. Utilizing its state-of-the-art facilities and world-class expertise, Zeekr Group is developing its own software systems, e-powertrain and electric vehicle supply chain. Zeekr Group's values are equality, diversity, and sustainability. Its ambition is to become a true global new energy mobility solution provider.

For more information, please visit https://ir.zeekrgroup.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "future," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

In China:

ZEEKR Intelligent Technology Holding Limited
Investor Relations
Email: [email protected]

Piacente Financial Communications
Tel: +86-10-6508-0677
Email: [email protected]

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: [email protected]

Media Contact

Email: [email protected]

SOURCE ZEEKR Intelligent Technology Holding Limited

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Sanofi’s high-dose influenza vaccine demonstrates superior protection for older adults against hospitalization vs standard-dose

Compared to standard-dose influenza vaccines, Efluelda/Fluzone High-Dose demonstrated a reduction in laboratory-confirmed influenza hospitalizations by an additional 31.9% (95% CI, 19.7 to 42.2; p<0.001) in adults 65 years and overResults come from FLUNITY-HD, the largest influenza vaccine effectiveness study of individually randomized older adults, involving nearly half a million participants across several seasons and two geographic areasEfluelda/Fluzone High-Dose also provided superior protection, compared to standard-dose influenza vaccines*, against hospitalizations due to pneumonia or influenza, hospitalizations caused by cardio-respiratory events, and all-cause hospitalizations in older adults Efluelda/Fluzone High-Dose is the first vaccine to demonstrate superior protection against both influenza infection and hospitalizations, compared to standard-dose influenza vaccines, in individually randomized studies in adults 65 years and over Paris, October 20, 2025. New data from the FLUNITY-HD study, published on October 17 in The Lancet, demonstrated that Sanofi's Efluelda (known as Fluzone High-Dose in North America) significantly reduced the risk of hospitalization in adults 65 years and older compared to standard-dose influenza vaccines. The largest study of its kind, conducted across multiple seasons, FLUNITY-HD provides robust evidence that the high-dose influenza vaccine offers superior protection compared to standard-dose:

8.8% (95% CI, 1.7 to 15.5; one-sided p=0.008) additional protection against pneumonia/influenza hospitalizations6.3% (95% CI, 2.5 to 10.0; p<0.001) additional reduction in hospitalizations for cardio-respiratory events31.9% (95% CI, 19.7 to 42.2; p<0.001) additional reduction in lab-confirmed influenza hospitalizations2.2% (95% CI, 0.3 to 4.1; p=0.012) additional protection against all-cause hospitalizations, meaning one additional hospitalization could be averted for every 515 (95% CI, 278 to 3,929) individuals vaccinated with Efluelda instead of standard-dose. "The FLUNITY-HD study, unparalleled in its design and scale, harnesses the power and scientific rigor of individual randomization in real-world settings,” shared Professor Tor Biering-Sørensen, Cardiologist, Chief Investigator, and sponsor of the FLUNITY-HD study. “This first-of-its-kind study assessed the benefits of the high-dose influenza vaccine against severe outcomes compared to standard-dose, including against cardio-respiratory hospitalizations, in a randomized setting, covering two geographic areas. The results provide critical evidence, potentially reshaping public health strategies and clinical guidelines."

Professor Federico Martinon-Torres, Co-Principal Investigator of FLUNITY-HD study, added, “This new evidence reinforces the clinical confidence healthcare professionals have that the high-dose influenza vaccine achieves superior protection over standard-dose against severe outcomes in older adults, a group considered vulnerable due to having a weakened immune system and a higher risk of developing serious complications after flu infection."

Beyond clinical evidence, these findings point to potential public health and societal benefits.

“Adults 65 and older represent up to 70% of flu hospitalizations. The FLUNITY-HD data confirm that our high-dose flu vaccine provides superior protection against hospitalizations compared to standard-dose vaccines in older adults,” said Bogdana Coudsy, MD, Global Head of Medical, Sanofi, Vaccines. “For every 515 older adults who receive our high-dose flu vaccine instead of standard-dose vaccines, one all-cause hospitalization is prevented. This can mean a lot, especially for vulnerable seniors, decreasing the burden on their quality of life and helping them to maintain their autonomy for longer. Additionally, preventing influenza hospitalizations may bring societal benefits such as lower healthcare costs, less pressure on medical systems, and reduced burden on caregivers.”

With the addition of these new data, comprehensive research on our high-dose influenza vaccine covers 15 years of clinical evidence spanning over 45 million older adults.

About the FLUNITY-HD Study
FLUNITY-HD is a pre-specified pooled analysis of two pragmatic individually randomized trials involving 466,320 participants aged 65 and older: DANFLU-2 and GALFLU. DANFLU-2 was conducted over three influenza seasons (2022-23, 2023-24 and 2024-25) with over 332,000 participants aged 65 and above in Denmark. GALFLU was conducted over two influenza seasons (2023-24 and 2024-25) with over 134,000 participants aged 65 to 79 in the region of Galicia in Spain.

The largest influenza vaccine study of its kind, this multi-season analysis is designed to evaluate the real-world effectiveness of Efluelda (high-dose influenza vaccine) compared to standard-dose influenza vaccines in preventing hospitalizations, ensuring scientific rigor through individual randomization.

FLUNITY-HD achieved its primary endpoint, demonstrating 8.8% additional protection against pneumonia/influenza hospitalizations (vs standard dose). Secondary endpoints include reduction in hospitalizations for cardio-respiratory events, lab-confirmed influenza hospitalizations and all-cause hospitalizations.

About Efluelda / Fluzone High-Dose
Efluelda is a high-dose influenza vaccine, indicated for adults aged 60 and older in Europe. It is also licensed under the brand name Fluzone High-Dose in North America where it is indicated for adults aged 65 and older.

This high-dose influenza vaccine is specifically tailored for older adults whose immune systems gradually decline and weaken with age, increasing their risk for severe influenza-related illness and hospitalization compared with younger populations. It provides 4x the antigen compared to a standard-dose vaccine to deliver a better immune response against influenza for older adults.

About Sanofi
Sanofi is an R&D driven, AI-powered biopharma company committed to improving people’s lives and delivering compelling growth. We apply our deep understanding of the immune system to invent medicines and vaccines that treat and protect millions of people around the world, with an innovative pipeline that could benefit millions more. Our team is guided by one purpose: we chase the miracles of science to improve people’s lives; this inspires us to drive progress and deliver positive impact for our people and the communities we serve, by addressing the most urgent healthcare, environmental, and societal challenges of our time.

Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY

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Press Release

Tecentriq reduced the risk of death by 41% and the risk of disease recurrence or death by 36% compared with placebo1IMvigor011 is the first global phase III study to read out pioneering a ctDNA- guided approach to post-surgery treatment in muscle-invasive bladder cancerData being presented as part of the Presidential Symposium at the ESMO Congress 2025 Basel, 20 October 2025 - Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today positive results from the phase III IMvigor011 study evaluating Tecentriq® (atezolizumab) as an adjuvant treatment for people with muscle-invasive bladder cancer (MIBC) who are at risk of recurrence after surgery (cystectomy) and have detectable circulating tumour DNA (ctDNA). In this ctDNA-guided setting, Tecentriq reduced the risk of death (overall survival, OS) by 41% and the risk of disease recurrence or death (disease-free survival, DFS) by 36%, both compared with placebo. This ctDNA-guided approach, using Natera’s SignateraTM ctDNA Molecular Residual Disease (MRD) test, spared people at low risk of recurrence from unnecessary treatment and side effects. The safety profile was consistent with previous studies of Tecentriq.1

These results are being presented as part of the Presidential Symposium at the European Society for Medical Oncology (ESMO) Congress 2025. They will also be discussed with health authorities, including the U.S. Food and Drug Administration (FDA).

“These clinically meaningful results show that Tecentriq helped people with muscle-invasive bladder cancer live longer and without their disease returning,” said Levi Garraway, Roche’s Chief Medical Officer and Head of Global Product Development. “The use of serial ctDNA testing to detect molecular residual disease may also advance bladder cancer treatment by combining a precision diagnostic with cancer immunotherapy.”

“Even after surgery, most people with muscle-invasive bladder cancer will face the physical and emotional toll of further treatment,” said Professor Thomas Powles, lead principal investigator of IMvigor011, Professor of Genitourinary Oncology; Chair of Barts Cancer Centre at St. Bartholomew's Hospital. “These results indicate that with Signatera ctDNA testing, we may be able to identify those at risk of recurrence who could benefit from adjuvant atezolizumab treatment and spare others from unnecessary therapy, paving the way for a more personalised treatment approach.”

At median follow up of 16.1 months, median DFS was 9.9 months in the Tecentriq arm versus 4.8 months in the placebo arm (stratified hazard ratio [HR]=0.64; 95% CI: 0.47-0.87, p =0.0047). Median OS was 32.8 months in the Tecentriq arm versus 21.1 months in the placebo arm (HR=0.59; 95% CI: 0.39-0.90, p=0.0131). People who persistently tested for no detectable ctDNA had low risk of recurrence.1

More than 150,000 people worldwide are diagnosed with MIBC each year.2,3 It is an aggressive type of cancer, with poor long-term outcomes and high treatment burden.4 Despite this, personalised treatment approaches lag behind other cancer types.5 ctDNA-guided treatment could change this, by helping healthcare professionals tailor treatment more precisely to improve clinical benefit and reduce unnecessary intervention.1

About the IMvigor011 study
IMvigor011 [NCT04660344] is a global phase III, randomised, placebo-controlled, double-blind study designed to evaluate the efficacy and safety of adjuvant treatment with Tecentriq® (atezolizumab) compared with placebo in participants with muscle-invasive bladder cancer (MIBC) who are circulating tumour DNA (ctDNA)-positive and are at risk of recurrence following cystectomy. IMvigor011 utilised Natera’s SignateraTM as the clinical trial assay. This personalised ctDNA test for the detection of MRD is currently under review by the FDA for use as a companion diagnostic. 761 people participated in the surveillance phase of IMvigor011 and those with positive Signatera tests (250 people) joined the treatment phase, where they received either Tecentriq or placebo. The primary endpoint is investigator-assessed disease-free survival (DFS). Secondary endpoints include overall survival (OS) and tolerability, amongst others.

About Tecentriq® (atezolizumab)
Tecentriq is a monoclonal antibody designed to bind with a protein called PD-L1, which is expressed on tumour cells and tumour-infiltrating immune cells, blocking its interactions with both PD-1 and B7.1 receptors. By inhibiting PD-L1, Tecentriq may enable the re-activation of T cells. Tecentriq may also affect normal cells.

Tecentriq has been approved for some of the most aggressive and difficult-to-treat forms of cancer and is the first PD-(L)1 cancer immunotherapy available in both subcutaneous and intravenous formulations. Tecentriq was the first cancer immunotherapy approved for the treatment of a certain type of early-stage (adjuvant) non-small cell lung cancer (NSCLC), small cell lung cancer (SCLC) and hepatocellular carcinoma (HCC). Tecentriq is also approved in countries around the world, either alone or in combination with targeted therapies and/or chemotherapies, for various forms of metastatic NSCLC, certain types of metastatic urothelial cancer (mUC), PD-L1-positive metastatic triple-negative breast cancer (TNBC), BRAF V600 mutation-positive advanced melanoma and alveolar soft part sarcoma (ASPS).

About Roche in cancer immunotherapy
To learn more about Roche’s scientific-led approach to cancer immunotherapy, please follow this link: https://www.roche.com/solutions/focus-areas/oncology/cancer-immunotherapy

About Roche
Founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines, Roche has grown into the world’s largest biotechnology company and the global leader in in-vitro diagnostics. The company pursues scientific excellence to discover and develop medicines and diagnostics for improving and saving the lives of people around the world. We are a pioneer in personalised healthcare and want to further transform how healthcare is delivered to have an even greater impact. To provide the best care for each person we partner with many stakeholders and combine our strengths in Diagnostics and Pharma with data insights from the clinical practice.

For over 125 years, sustainability has been an integral part of Roche’s business. As a science-driven company, our greatest contribution to society is developing innovative medicines and diagnostics that help people live healthier lives. Roche is committed to the Science Based Targets initiative and the Sustainable Markets Initiative to achieve net zero by 2045.

Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan.

For more information, please visit www.roche.com.

All trademarks used or mentioned in this release are protected by law.

References
[1] Powles T, et al. IMvigor011: a Phase 3 trial of circulating tumour (ct)DNA-guided adjuvant atezolizumab vs placebo in muscle-invasive bladder cancer. To be presented at: ESMO Congress; 2025 Oct 17-21; Berlin, Germany. Abstract #LBA8.
[2] Global Cancer Observatory. Cancer Today GLOBOCAN 2022 Factsheet – Bladder [Internet; cited 2025 October]. Available from: https://gco.iarc.who.int/media/globocan/factsheets/cancers/30-bladder-fact-sheet.pdf.
[3] Ghandour R, et al. Treatment Options and Outcomes in Nonmetastatic Muscle Invasive Bladder Cancer. Trends Cancer. 2019;5(7):426-39.
[4] Vogl U, et al. Current advances in the perioperative treatment of muscle-invasive bladder cancer. Healthbook TIMES Oncol. Hematol. 2025;24(2):54-63.
[5] Van Hoogstraten LMC, et al. Global trends in the epidemiology of bladder cancer challenges for public health and clinical practice. Nat Rev Clin Oncol. 2023;20:287-304.

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Media & Investor Release IMvigor011 ESMO

Semiconductor stocks have been the biggest beneficiaries of rising investment in artificial intelligence (AI) infrastructure over the last three years.

When investors think about artificial intelligence (AI) hardware stocks, Nvidia understandably dominates the conversation. Yet beneath the surface, another semiconductor powerhouse is making impressive strides.

Advanced Micro Devices (AMD -0.52%) has transformed from a longtime challenger in graphics processing units (GPUs) and central processing units (CPUs) into a credible leader in AI accelerators -- the high-performance chips that enable the training and deployment of large language models (LLMs) and generative AI applications.

With a growing line-up of cutting-edge processors and strategic partnerships with major cloud providers, AMD is positioning itself as a top contender in the next wave of AI infrastructure growth.

AMD's position in the AI accelerator race
Nvidia remains the undisputed leader in the AI hardware market, but AMD is rapidly narrowing the gap. The company's Instinct MI300 chip architecture has already proven capable of competing at the highest performance tiers, and the upcoming MI400 accelerators are expected to deliver meaningful improvements in memory capacity, energy efficiency, and throughput.

These gains aren't just theoretical. Major hyperscalers like Microsoft and Meta Platforms are already integrating AMD's chips into next-generation data center buildouts as an alternative to Nvidia's GPUs.

By embracing open-source standards like ROCm, AMD is creating a more flexible ecosystem that enables developers to move and optimize models seamlessly across platforms. The company's message to customers is clear: Achieve cutting-edge AI performance without being locked into a single vendor's proprietary ecosystem or constrained by Nvidia's supply chain and pricing.

Image source: Advanced Micro Devices.

Megadeals highlight real momentum
Perhaps the clearest validation of AMD's progress in AI hardware comes from two of the most influential names in the industry: OpenAI and Oracle.

Earlier this month, OpenAI announced a 6-gigawatt data center partnership to power its next generation of models using new architectures built on AMD accelerators. Just a week later, Oracle revealed that its cloud infrastructure division would deploy 50,000 Instinct MI450 chips in the second half of next year.

These landmark partnerships highlight two critical points. First, AMD has proven it can deliver AI computing power at hyperscale capacity. Second, the price-performance economics of its chips are now competitive enough to win over top-tier cloud providers and AI developers.

But these deals represent more than headline figures -- they signal a fundamental shift in the AI infrastructure market. Cloud giants are diversifying their GPU supply chains to meet unprecedented demand for compute power, and AMD's ability to deliver large-scale, cost-efficient accelerators makes it an essential pillar in that strategy. In many ways, it's a direct acknowledgement that the future of AI hardware will be multivendor -- and AMD is emerging as a driving force behind that transition.

Building the AI ecosystem: From software to start-ups
AMD understands that hardware alone isn't enough to win the AI revolution. That's why the company has been steadily investing in software, developer tools, and research frameworks that make its chips easier to adopt across enterprises and data centers.

Strategic acquisitions such as Nod.ai and Silo AI have augmented AMD's capabilities in optimization, model deployment, and integration -- essential tools for developers who want to build and scale applications on AMD's systems.

At the same time, the company benefits from a growing AI start-up ecosystem that complements its product roadmap. Companies like Groq are expanding overall demand for specialized computing and setting new benchmarks for inference performance and energy efficiency.

As the industry moves toward flexible AI infrastructure, AMD's Instinct accelerator platform is positioned to capture more market share. In short, AMD isn't just supplying chips -- it's building a complete foundation that aligns with the next phase of data center innovation.

How should investors view AMD stock?
For investors, AMD represents a compelling balance of growth potential and market validation. The company has proven it can compete head-to-head with Nvidia while maintaining a steady cadence of innovation -- with its next-generation MI450 chips set to really make a splash next year.

While near-term volatility is possible given the massive capital investment fueling the semiconductor industry, AMD's long-term trajectory looks promising. The company is no longer the underdog; it has become a cornerstone of the AI infrastructure buildout that will define the next decade of computing.

For long-term investors who believe the AI boom is still in its early innings, AMD stands out as one of the best AI hardware stocks to buy today -- a company bridging world-class engineering with expanding real-world demand across cloud computing, data centers, and generative AI models.

Adam Spatacco has positions in Meta Platforms, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Meta Platforms, Microsoft, Nvidia, and Oracle. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

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 PD 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.

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In brief
Bitcoin stabilized above $105,000 over the weekend, triggering a push toward $109,400.
Experts say Bitcoin could be forming a local bottom amid softening U.S.-China trade tensions, but remain cautious.
The end of quantitative tightening and potential rate cuts create a bullish setup for Bitcoin heading into 2026.
Bitcoin is showing signs of stabilization as key macroeconomic pressures begin to ease, with experts suggesting the top crypto may be bottoming. 

Bitcoin is up nearly 2% over 24 hours, setting a high of $109,405, fueling a minor rally across the broader altcoin market, CoinGecko data shows.

"I think Bitcoin is bottoming here," Peter Chung, head of research at Presto Research, told Decrypt. "I expect the next move is more likely to be upward rather than downward."

The potential bullish reversal follows the Fed’s dovish pivot last week, in which Chair Powell signaled that quantitative-tightening may be coming to an end and that interest-rate cuts are on the table.

With the end of QT in sight, risk assets may benefit from a loosening of financial conditions headwinds as liquidity withdrawal slows, or so the thinking goes.

Meanwhile, a softening of the U.S.-China trade war, which previously triggered a historic liquidation cascade earlier in the month, is also expected this week, with Treasury Secretary Scott Bessent and Vice Premier He Lifeng to meet in Malaysia to defuse tensions further.

Sean Dawson, head of research at Dervie, echoed Chung’s sentiment, but cautioned that risks remain. 

"This is probably a local bottom. Lower rates push investors up the risk curve into assets like crypto," Dawson told Decrypt. "However, the risk of escalation in the U.S.-China trade war could cause a further tumble."

The immediate future for Bitcoin and the broader crypto market hinges on Friday’s upcoming inflation report, though Decrypt was told the outcome of U.S.-China trade negotiations holds a greater sway over the market sentiment.

"Bitcoin is extremely sensitive to these talks," Dawson said, noting that the largest price moves this year have followed tariff announcements. "Should there be a positive resolution to these fears, we’d likely see a significant upward rally."

Looking ahead, the Fed’s plan to end quantitative tightening, which involves reducing the central bank’s balance sheet, “will be bullish for Bitcoin,” Dawson said, noting that the return of liquidity creates a more favorable environment for speculative assets.

A quarter-point rate cut is expected ahead for the Fed’s next decisive meeting, scheduled on October 29, according to bond traders. 

While a larger-than-expected rate cut would be positive for Bitcoin's price action, "this would persist and manifest itself on longer time horizons likely by the first quarter of next year," Dawson added.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

A crypto market rally is happening today, with Bitcoin and most altcoins being in the green. Bitcoin price rose to $110,000 from last week's low of $103,000, while altcoins like Mantle, MemeCore, SPX6900, and Bittensor rising by over 10% in the last 24 hours.

Follow up to the hour updates on what is happening in crypto today, October 20. Market movements, crypto news, and more!

Ethereum price started a recovery wave above $3,880. ETH is now rising and might aim for more gains if it clears the $4,050 resistance.

Ethereum started a fresh recovery above $3,800 and $3,880.
The price is trading above $3,920 and the 100-hourly Simple Moving Average.
There was a break above a key bearish trend line with resistance at $3,940 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move up if it trades above $4,050.

Ethereum Price Rises Again
Ethereum price struggled to settle above $4,050 and corrected most gains, like Bitcoin. ETH price declined below the $4,000 and $3,800 levels.

It even tested the $3,680 zone. A low was formed at $3,677 and the price is now correcting losses. There was a decent move above the 50% Fib retracement level of the recent decline from the $4,292 swing high to the $3,677 low.

Besides, there was a break above a key bearish trend line with resistance at $3,940 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,920 and the 100-hourly Simple Moving Average.

On the upside, the price could face resistance near the $4,050 level and the 61.8% Fib retracement level of the recent decline from the $4,292 swing high to the $3,677 low. The next key resistance is near the $4,120 level. The first major resistance is near the $4,220 level.

Source: ETHUSD on TradingView.com
A clear move above the $4,220 resistance might send the price toward the $4,320 resistance. An upside break above the $4,320 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,440 resistance zone or even $4,500 in the near term.

Another Decline In ETH?
If Ethereum fails to clear the $4,050 resistance, it could start a fresh decline. Initial support on the downside is near the $3,940 level. The first major support sits near the $3,880 zone.

A clear move below the $3,880 support might push the price toward the $3,820 support. Any more losses might send the price toward the $3,680 region in the near term. The next key support sits at $3,620.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,880

Major Resistance Level – $4,050

Ethereum (ETH) faces mounting pressure as analysts warn the second-largest cryptocurrency by market capitalization could soon drop below the critical $3,000 level. Following last week's market-wide liquidation, Ethereum has struggled to regain momentum, with on-chain and technical data suggesting that bearish sentiment may dominate in the short term.

7 minutes ago

Ethereum developer Federico Carrone warns venture capital firm Paradigm’s growing influence on the network could eventually lead to a misalignment in values.

53

Ethereum developer Federico Carrone says the growing influence of corporations such as Paradigm on the network could be  “tail risk” for the Ethereum ecosystem.

In a post on Sunday, the Ethereum core dev, who goes by “Fede’s intern” on X, argued that while Paradigm has “created valuable things for the community,” he is worried about the growing influence of a venture fund whose ultimate goals are driven by profit and influence.

“I’ve been saying for the past two years that the influence of @paradigm within Ethereum could become a relevant tail risk for the ecosystem. I believe this will become increasingly clear to everyone in the months ahead.”

Source: Federico Carrone Carrone added that while Paradigm’s hiring of key Ethereum researchers and funding of open source libraries that are “critical to Ethereum” looks good on the surface, it’s not for those who think that Ethereum should represent a “philosophical and political” movement that is “larger than any corporation.”

Paradigm has made a series of Ethereum plays over the years, which also includes the Rust-language-based Ethereum development software Reth.

One of the most recent notable plays includes the incubation of a competing layer-1 blockchain, Tempo, in partnership with fintech giant Stripe.

Tempo is still in the works and will be a stablecoin and payments-focused L1 with Stripe essentially being in control of the network. Its ethos marks a stark contrast to Ethereum’s decentralized and open-source nature, given that it will be a corporate-controlled chain. 

Ultimately, Carrone’s concerns center around the differing aims of decentralized and centralized entities, and the dangers of allowing any type of fund — not just Paradigm — to have too much sway over the Ethereum ecosystem. 

“Ethereum should be extremely cautious about developing a technical deep dependency on a fund that is playing cards in a very strategic way.”

“When corporations gain too much legibility and influence over open source projects, priorities start to drift away from the community’s long-term vision and toward corporate incentives. That’s how misalignment begins.”Cointelegraph reached out to Paradigm for comment, but did not hear back by the time of writing. 

Carrone is calling for a counterbalance in a follow-up post. Source: Federico Carrone Paradigm crypto ventures  Paradigm is a crypto and AI investment firm founded in 2018 by Matt Huang, a veteran from VC giant Sequoia, and Coinbase co-founder Fred Ehrsam.

It has invested widely across the market, covering anything from DeFi and NFTs to blockchain security, infrastructure and startups.

Some of Paradigm’s investment portfolio. Source: Paradigm In its initial announcement of Tempo in September, Paradigm outlined its goal was to push forward the technology and adoption of crypto through a “mix of investing, building, and researching.” 

“This helps us understand friction points and opportunities, and keeps us close to the edge of what’s possible,” the announcement reads.

Outside of purely financial plays, it has made several moves that display a firm conviction in the crypto community. From submitting an amicus brief in support of Tornado Cash co-founder Roman Storm, to hiring respected blockchain sleuth ZachXBT as an adviser to fund research and help protect its VC companies.

Magazine: Back to Ethereum: How Synthetix, Ronin and Celo saw the light

On October 19, 2025, Volatility Shares made a significant move by submitting applications for 27 highly leveraged exchange-traded funds (ETFs), including the first-ever 5x leveraged options for major cryptocurrencies like bitcoin, XRP, ether, and solana. This bold step could dramatically alter the landscape of crypto and equity trading, enabling unprecedented access to high-risk, high-reward investment strategies.

Bitcoin and other major cryptocurrencies rebounded on Sunday after US President Donald Trump confirmed that he will meet Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul on October 31.

Media network Newsmax has announced a major step into the cryptocurrency sector, revealing plans to invest up to $5 million in Bitcoin and Trump Coin over the next 12 months. The move highlights a growing trend of public companies integrating digital assets into their financial reserves — a development that continues to blur the lines between institutional finance and political momentum.

Key Takeaways
Why is Japan considering crypto as a banking investment? 
The interest in digital assets has grown, especially in Japan. 

How does Japan compare to regional markets in crypto adoption? 
Per Chainalysis, Japan topped the 2025 adoption list with a 120% crypto user growth. 

Japan may be gearing up for a major overhaul to drive crypto adoption.

The country’s regulator, the Financial Services Agency (FSA), is considering allowing banks to hold crypto assets like Bitcoin [BTC] as investments, according to a Livedoor report. 

In recent years, the cryptocurrency market has grown massively, with the U.S leading in institutional adoption via ETFs. The crypto holdings of the world’s largest asset manager, BlackRock, recently crossed $100 billion.

Other banks and investment firms like JPMorgan and Morgan Stanley allow wealthy clients to have crypto exposure in the U.S. In July, Standard Chartered also made a similar move for its U.K. customers, starting with BTC and Ethereum [ETH]. 

At that time, the banking giant said there was “growing interest in regulated digital asset solutions.”

Japan’s regulatory shift drives adoption
To achieve and catch up with its counterparts in the U.S, Japan seeks to expand its regulatory clarity to allow crypto in banking investments.

Per Livedoor, a working group under the Prime Minister is set to discuss the new guidelines to allow banks to act as crypto exchanges. 

Given crypto’s volatility, the risk mitigation system for banks will also be explored to ensure the safety of the institutions. 

In June, the FSA proposed a reclassification of crypto assets into “financial products” to pave the way for crypto ETFs (exchange-traded funds).

It is the same framework that applies to securities and other traditional financial products in Japan. Pundits also highlighted that the move would slash crypto taxes from over 50% to 20%. 

Given the similar treatment as traditional stocks, the country also banned crypto insider trading with new rules. 

Collectively, the recent updates have been geared towards ensuring user protections and further adoption. 

Japan leads Asia’s 2025 crypto growth
In fact, Chainalysis’s report singled out Japan as the fastest-growing crypto market across the broader Asia-Pacific region in 2025.

It saw a 120% crypto market growth thanks to regulatory shifts, with Ripple [XRP] as the dominant crypto asset. Indonesia, South Korea, and India followed closely at 103%, 100% and 99% growth rates. 

Source: Chainalysis

As of early 2025, there were about 12 million new crypto accounts in Japan, a 3.5X surge from five years ago. 

The market is cooling off one week after the critical cryptocurrency market crash that essentially ended the first phase of market recovery. The possibility of a further reversal is yet to be determined.

Bitcoin's narrative finally easesThe bullish narrative surrounding Bitcoin may finally be coming to an end. Technical and momentum indicators are still flashing bearish warnings, and despite brief recovery attempts, the daily chart’s current setup indicates that Bitcoin may drop below $100,000 in the near future.

Bitcoin, which is currently trading at about $107,900, is still below its three main moving averages, the 50-, 100- and 200-day EMAs. These EMAs have all begun to slope lower, indicating a midterm trend reversal. The market sentiment was essentially reset when the recent crash below the $110,000-$112,000 range erased months of steady accumulation.

HOT Stories

BTC/USDT Chart by TradingViewDespite slight intraday bounces, the RSI, which is currently at 38, is still close to oversold territory and lacks bullish momentum. The inability to recover the 200-day EMA, which is presently close to $108,000, supports the notion that structural weakness, not a transient correction, is now affecting Bitcoin. Historically, the start of a protracted bearish phase is indicated when Bitcoin drops and remains below this line.

The volume of the market supports this view, buyers have stopped making purchases, and sell pressure is steadily increasing during rallies. The outlook is made worse by macro conditions. Following the significant liquidation events earlier in the week, liquidity is becoming more constrained across cryptocurrency markets, and investor confidence is still brittle.

The $100,000 psychological threshold, which was once thought to be the next big goal, now appears to be more of a ceiling than a practical objective. The fact that Bitcoin is still in a bull market should not be misunderstood. A prolonged period of retracement is suggested by the combination of technical breakdowns, waning trend strength and inadequate market breadth. The path of least resistance stays downward unless Bitcoin decisively and strongly recovers above $114,000, possibly retesting below $100,000 levels before a true recovery can start.

XRP finally catches a breathFollowing weeks of unrelenting selling pressure, XRP’s decline seems to have stopped suddenly, raising the possibility that the asset is about to enter a brief recovery phase. The price stabilizing in the $2.30-$2.40 range may signal the start of a more extensive reversal, because both market structure and momentum indicators suggest that sellers are running out of options.

For the first time in months, XRP fell below its 200-day moving average, sparking a market-wide panic. The recent plunge was brought on by the larger crypto meltdown. The subsequent sharp rebound, however, suggests that demand is high at lower levels. The most recent daily candles display rising volume on green bars and shorter wicks, which are classic indicators that selling momentum is waning.

The RSI is at 37, indicating an oversold situation, and XRP has formed a local support zone around $2.25, according to technical analysis. In the past, when RSI levels fall below 40, XRP has experienced strong reactions, frequently leading to multi-day rebounds. Furthermore, it is possible that large buyers intervened to absorb excess sell orders, resetting the short-term equilibrium, given the abrupt halt in the downward momentum that followed the extreme liquidation event.

Currently, $2.60-$2.65 is the crucial area to monitor. A short-term bullish shift could be confirmed by a breakout above that resistance, which might push XRP back toward the $2.80-$2.90 range. However, if current levels are not maintained, the path toward $2.00 may reopen.

In summary, the sudden end of XRP’s crash appears to be more of a quick shift in sentiment, with buyers subtly regaining control and sellers having overextended. Even though the overall market is still cautious, this might be the first indication of an impending retracement and the beginning of a more robust recovery for XRP.

Pressure on Shiba Inu easesShiba Inu is reviving after weeks of excessive selling pressure, and it is obvious that it does not wish to stay at its recently added zero. Following a brief period of stability, the price of the meme coin is currently making an effort to rise above the $0.000010 mark, a crucial psychological threshold that could decide whether the current market correction results in a significant recovery or a deeper decline.

As of writing, SHIB is trading at about $0.00001004, indicating a slight daily gain. More significantly, the asset seems to have effectively stabilized above $0.0000095, which was once a high-volume zone and served as local support. This downtrend halt is accompanied by an increase in trading volume and a flattening RSI between 37 and 39, which suggests that accumulation may be starting while sellers are losing ground.

Rekindled whale accumulation, a modest improvement in overall market sentiment and the expectation of ecosystem updates within the Shiba Inu network could all be contributing factors to the recent recovery. The on-chain data from SHIB also shows a slowdown in large outflows, which could mean that major holders are holding instead of dumping, which usually happens before local recoveries.

Technically speaking, a successful break above $0.0000105-$0.0000108 might validate a brief reversal, paving the way for a short-term move toward $0.0000115 and possibly even $0.000012. The recent gains could be erased, though, if $0.0000095 is not held above.

Shiba Inu appears committed to regaining $0.00001 as a starting point for recovery for the time being. This could be the start of SHIB’s next attempt to regain its lost momentum and possibly erase that unwanted zero faster than many anticipate, if the market stays stable and buying pressure increases.

Bitcoin may be the primary focus of institutional investors, but new research highlights Solana (SOL) as a powerful addition to diversified portfolios. According to a Capital Markets study using Bitwise data, even a small Solana allocation in a traditional 60/40 equity-bond portfolio can significantly enhance performance and risk-adjusted returns.

The analysis revealed that adding just 1% Solana exposure increased annualized returns to 10.54% with a Sharpe ratio of 0.696. A 2.5% allocation raised returns to 16.64% with a Sharpe ratio of 1.093, while a 5% weighting generated 26.22% returns and a 1.412 Sharpe ratio. At a 10% Solana allocation, annualized returns surged to 43.88% and a Sharpe ratio of 1.687, showcasing the asset’s strong growth potential even at modest levels of exposure.

However, diversification impacts results. When a 10% crypto portfolio was evenly split between Bitcoin, Ethereum, and Solana, returns dropped to 19.87%, less than half of Solana’s solo performance. A 50:30:20 mix of Bitcoin, Ethereum, and Solana produced 16.18% returns, while smaller allocations of 5% and 2.5% yielded steady gains of 11.33% and 8.84%. Despite varying outcomes, Capital Markets noted that maximum drawdowns stayed contained, emphasizing balanced growth potential.

Solana’s strong on-chain fundamentals support these findings. Known for low fees and high transaction throughput, the network handled around 96 million daily transactions in early 2025, driven by rising activity in payments, gaming, and consumer apps. With more than $11 billion locked in its DeFi ecosystem, Solana now stands as the second-largest decentralized finance network.

As speculation mounts around a potential U.S. spot Solana ETF, institutional interest continues to rise. Its scalability, efficiency, and expanding ecosystem solidify Solana’s position as a key component of modern investment portfolios and a credible next-generation blockchain.

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