Market Signal Briefing

Reese's peanut-butter cups haven't been made by a Reese since 1963. That hasn't stopped Brad Reese from championing the candy, or bashing the owner.

Several big tech companies surprised Wall Street with their fourth-quarter and full-year reports over the past few weeks. It wasn't because of missed earnings or anything like that. It was because of the incredible amounts of money they plan to spend on artificial intelligence (AI) data centers.

Meta (META 1.29%) announced a 73% boost to its capital expenditure guidance for 2026.

Microsoft (MSFT 2.17%) announced it had spent more than $200 billion on AI technology since the beginning of its fiscal 2024.

Amazon (AMZN +1.04%) announced $200 billion capex guidance for 2026, up 52% from the $131 billion it spent in 2025.

Finally, Alphabet (GOOG +1.49%), Google's parent company, announced plans for $175 billion to $185 billion in capex for this year.

The reason for all this spending is simple: Data centers aren't cheap. Industry news and analysis site Dgtl Infra notes that it costs $7 million to $12 million per megawatt of planned load to build a data center. CNBC has pointed out that the average modern hyperscale data center is between 150 and 300 megawatts. Say you want a 200 MW data center. That would cost between $1.4 billion and $2.4 billion.

The costs don't stop after construction, either. According to Stream Data Centers, a company that develops these projects, the average large data center costs $10 million to $25 million a year to operate.

In a spending war among all those giants, which one will emerge as the top dog?

Image source: Getty Images.

Let me spell it out I think the company with the best likelihood of sustaining the levels of capex AI demands is Alphabet, for three reasons. First, its financial strength relative to its peers (though none of these companies are strapped for cash). Second, its in-house hardware advantage. Third, its non-AI revenue streams.

Let's start with the money.

Alphabet generated $402.8 billion in revenue in 2025, up 15% over 2024, and it grew its net income by 32% to $132.2 billion. The company is also running a net profit margin of 32.8%, so if its costs of revenue do go up, it has quite a cushion of profitability.

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Amazon is bigger than Alphabet in terms of its net sales, which increased 12% in 2025, with the biggest boost coming from Amazon Web Services (AWS). However, Amazon has a much thinner net profit margin of 10.8%. Amazon can eat increased costs, too, but not to the same degree that Alphabet can.

The net margins of Microsoft and Meta are 39% and 30%, respectively. But they face other problems with their AI programs.

As a report from tech sector venture capital firm Menlo Ventures highlights, Meta's AI has been losing its share in the enterprise large language model API (application programming interface) market rapidly. In 2023, it had a 16% market share. That figure has since fallen to 8%. Meanwhile, Alphabet's Google Gemini AI program has grown its market share from 7% to 21% over the same period.

While Meta can't be ruled out entirely, it has been increasing its AI capex only to lose market share. Microsoft is facing a similar problem.

Microsoft's Azure Cloud revenue is forecast by both analysts and the company to stagnate or even decline in its fiscal 2026 Q3, which will ned March 31. Meanwhile, Google Cloud and Amazon Web Services continue to grow quickly.

Microsoft also seems to be betting big on OpenAI, and that strategic partnership may be turning into a liability. OpenAI's market share is also plummeting: It controlled 50% of the enterprise large language model API market in 2023. Its share has since fallen to 27%.

Meanwhile, the two AI programs growing their market shares are Google Gemini and Anthropic's Claude, which overtook OpenAI's ChatGPT to become the dominant player in the enterprise large language model API market with 40% share.

That brings me to Alphabet's second advantage: its Tensor Processing Unit (TPUs).

A-to-Z AI The TPU is one of the only real competitors to Nvidia's (NVDA 4.43%) graphics processing units (GPUs) in the AI processing realm. All the big AI players use Nvidia hardware, but only Alphabet now has its own in-house chips, which it can use to wean itself off Nvidia's hardware.

And Anthropic has announced it will begin using TPU chips, aiming to bring more than 1 gigawatt of computing capacity online this year using Alphabet's hardware. So even though Claude controls more of the market than Google Gemini, Alphabet can still make money off of it.

Meanwhile, everyone else must either pay Nvidia for the privilege of using its hardware or go to Alphabet, which is exactly what Apple (AAPL 3.40%) has done.

Finally, I want to talk about Alphabet's other revenue streams. Google, of course, is the legacy product, and has become synonymous with search engines on the whole.

Revenue from the Google search business grew 17% in 2025. Then there's YouTube, which generated $60 billion in revenue for Alphabet from ads and subscriptions in 2025. Google Cloud is smaller than AWS but still generated over $70 billion in annualized revenue run rate, up 48% year over year, in Q4 2025.

Put simply, Alphabet has so much money coming in already from a diverse set of assets that it has enough cash and high enough profit margins to spend as much as it needs to secure AI dominance without going into the red. Give it a look if you want to bet on what appears to be the fastest horse in the AI capex race.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of IQV either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

Ethereum $159B Stablecoin Dominance: Why Infrastructure Beats Price

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Ethereum (ETH) price action is stalling near $2,000, but the on-chain reality of its stablecoin advantage tells a radically different story.

The network now commands over 53%, or $159 billion, of the $300 billion stablecoin market, cementing its status as the settlement layer for Institutional Crypto.

So, while the ETH price chart usually looks flat nowadays, the infrastructure moat is arguably deeper than ever.

Key Takeaways The Stat: Ethereum holds $153.41 billion in Stablecoins, controlling nearly 60% of the global supply. The Argument: Jeff Housenbold views ETH as vertical infrastructure for fintech, distinct from day-to-day asset pricing. The Tension: Price lags infrastructure utility, creating a disconnect between value settled and token valuation. The $159B Stablecoin Moat: Why Institutions Stick with Ethereum Jeff Housenbold is betting on infrastructure. The President and CEO of Beast Industries (the company behind the viral MrBeast brand) recently termed Ethereum the “backbone” of the stablecoin industry in an interview with CNBC.

That assessment aligns with hard data. As of today, Ethereum hosts $159 billion of the market’s total $300 billion stablecoin supply.

This dominance persists because, arguably, institutional crypto use cases value settlement finality over speed.

While Beast Industries expands its fintech footprint following the acquisition of Step, a financial literacy app with 1.45 million users, the focus remains on where the deepest liquidity lives.

Housenbold’s firm, which also oversees a $200 million investment from Bitmine, isn’t chasing pump-and-dump mechanics. They are looking at the rails moving $10.3 trillion in monthly transfer volume.

That volume matters. While price continues trading sideways, Wall Street institutions are eyeing Ethereum. The 2024 GENIUS Act provided regulatory clarity for stablecoin issuers, but it was Ethereum’s existent liquidity that captured the institutional share.

The sheer market share of USDT ($183 billion) and USDC ($75 billion) on the network creates a self-reinforcing loop. Institutions mint where the liquidity is deepest. That lock-in effect is why the supply on Ethereum’s headstart on the stablecoin sector will be a tough challenge for rivals like Ripple to navigate.

Discover: The best crypto to diversify your portfolio with

Solana and Base: The Retail Volume ShiftWhile Ethereum holds the collateral, retail users are transacting elsewhere. That is the clear signal from recent Stablecoins flow data.

Solana’s stablecoin supply surged 40% in late 2025, outpacing Ethereum’s percentage growth, according to BitWise research analyst Danny Nelson. Traders chasing speed and low fees have migrated, driving Solana to 2.3 million daily active users compared to Ethereum’s 709,000.

Solana might just be winning the GENIUS Era

Solana doesn’t host the most stablecoins. And yet: it boasts the fastest-growing stablecoin supply. In the nearly 3 months since Trump signed the GENIUS Act, Solana’s stablecoins in circulation have jumped over 40%, reaching $15b.…

— Danny Nelson (@realDannyNelson) October 6, 2025 Base, Coinbase’s Ethereum Layer 2, processed $5.3 trillion in January 2026 Circle (USDC) transfers despite holding a fraction of the supply found on mainnet.

This points to a high velocity of money on Layer 2, i.e., tokens moving fast in small amounts, versus the stagnant, high-value collateral sitting on Ethereum.

Stablecoin transfer volume across EVM, Solana, and Tron reached $10.3T in Jan ’26.

While Ethereum holds the supply, velocity is moving to L2s and Solana.

— CryptoNews Analyst (@CryptoNews) February 12, 2026

Circle is a primary beneficiary of this multi-chain expansion. The issuer recently saw revenue surges as USDC proliferates across high-speed chains.

However, for Ethereum, the loss of retail transaction dominance hasn’t eroded its reserve status. It has simply specialized: Ethereum is the savings account; Solana and Base are the checking accounts.

Beyond the Stablecoin Advantage, Is $2,000 the Floor for Ethereum? Ethereum is trading at $1,960. The price has compressed into a tight range, lagging behind the broader market rally. The $2,000 level is now the critical psychological and technical pivot that will help ETH consolidate its current ground and go up to the next leg.

Losing this support level could put Ethereum in freefall, which may not break until $1,500, effectively invalidating all gains since the post-FTX 2021/2022 crash.

Supply dynamics favored a move higher. 31% of the total ETH supply is now staked, removing over 10 million coins from circulation since 2024.

That supply shock is latent energy. Standard Chartered sees this leading to $7,500 by year-end, but the market needs a catalyst to ignite it.

For now, momentum indicators are neutral. The RSI is sitting at 41, indicating indecision. The market is waiting for institutional capital to deploy the stablecoin dry powder sitting on Ethereum’s network. Until that capital rotates from stablecoins into risk assets, ETH remains in a consolidation phase.

Discover: The best new crypto to buy now

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Data shows a large amount of crypto long contracts have been liquidated as the Bitcoin price has plunged below the $66,000 level.

Crypto Market Has Faced $267 Million In Liquidations Over The Past Day According to data from CoinGlass, a mass amount of liquidations have just occurred in the crypto market. A “liquidation” is a forceful closure that occurs when a derivatives market contract accumulates a loss of a specific percentage (as defined by the platform).

The risk of a contract being liquidated depends on how volatile the asset is behaving, as well as on how much leverage the trader has opted for. In the crypto market, coins tend to show volatility on a regular basis and contracts are usually leveraged, so it’s not uncommon for a mass amount of liquidations to take place at once.

During the past day, Bitcoin and other assets have seen some sharp price action and once again, liquidations have piled up on derivatives exchanges. Below is a table that shows the numbers related to this liquidation event.

Looks like the longs have taken the largest hit | Source: CoinGlass In total, the crypto market has faced liquidations of nearly $268 million in the last 24 hours. Out of these, $188.5 million of the contracts involved have been bullish bets.

Long contracts being disproportionately affected by the event is naturally down to the fact that prices have overall moved down inside the window. Bitcoin has slipped under $66,000, while Ethereum is edging toward $1,900.

In terms of the contribution to the event by individual symbols, ETH has beaten BTC to the top spot this time around, as the below heatmap showcases.

How the liquidations have looked when broken down by symbol | Source: CoinGlass Usually, Bitcoin racks up the highest amount of liquidations in the sector. Though, while behind this time, BTC with contracts amounting to $86 million is still almost level with ETH’s $88 million figure. Ethereum being ahead of the original cryptocurrency may be down to the fact that its price has seen a swing of a larger percentage over the past day.

In some other news, the Bitcoin spot exchange-traded funds (ETFs) are looking to end the week with net inflows, as data from SoSoValue shows.

The spot ETFs have so far been green for the latest week | Source: SoSoValue During the last five weeks, the Bitcoin spot ETFs saw consecutive net outflows. It would appear, though, that the streak could break with the current week. So far, this week has seen net inflows of almost $815 million into the US funds.

BTC Price Bitcoin is down to the $65,600 mark following its drop of 3% during the past day.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView Featured image from Dall-E, chart from TradingView.com

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Keshav is a Physics graduate who has been employed as a writer with Bitcoinist since June 2021. He is passionate about writing and through the years, he has gained experience working in a variety of niches. Keshav holds an active interest in the cryptocurrency market, with on-chain analysis being an area he particularly likes to research and write about.

A security flaw in a proposed XRP Ledger (XRPL) upgrade could have enabled unauthorized transactions, but researchers flagged the issue before it could reach the blockchain’s main network.

The XRPL Foundation said Feb. 26 that the vulnerability was found in the proposed “Batch” amendment, a feature intended to let users bundle multiple actions into a single atomic transaction.

Security researcher Pranamya Keshkamat and Cantina AI’s autonomous static-analysis tool, Apex, reported the issue Feb. 19, according to the foundation.

If the amendment had been activated with the bug in place, an attacker could have executed inner transactions as if they were authorized by another account, without access to that user’s private keys.

That could have enabled unauthorized fund transfers and changes to ledger settings under a victim’s account, even though the victim did not sign the transaction.

The disclosure comes as XRPL has been positioning itself for use cases such as tokenization and other compliance-sensitive activities, where perceived security and reliability are central to institutional adoption.

Understanding XRPL's critical Batch amendment security flawThe proposed Batch amendment changed how authorization would work on the XRP Ledger by allowing multiple “inner” transactions to be bundled into a single “outer” Batch transaction, so that all steps either succeed or fail together.

That atomic structure can reduce execution risk for developers running multi-step operations. It also creates a new authorization boundary.

In the Batch design, inner transactions are intentionally unsigned. Instead, authority is delegated to a list of batch signers attached to the outer transaction, making the signer-validation code a critical control point.

If those checks fail, the ledger can treat unauthorized actions as valid.

The disclosure said the bug stemmed from a loop error in the function that validates batch signers.

When the code encountered a signer whose account did not yet exist on the ledger and whose signing key matched that same account, a normal state for a newly created account, it returned success immediately and stopped checking the rest of the signer list.

That condition was more dangerous in a batching system than it sounds. A batch can include steps that create accounts inside the same atomic sequence, meaning whether an account exists at validation time becomes part of the authorization boundary.

The report said an attacker could have inserted a valid signer entry for a not-yet-created account they controlled, triggered the premature-success condition, and bypassed validation of a forged signer entry claiming to authorize a victim account.

If Batch had activated before the flaw was caught, the consequences could have been serious.

The Foundation said an attacker could have executed inner Payment transactions that drained victim accounts down to the reserve. The same bug could also have enabled unauthorized account-level operations, including AccountSet, TrustSet, and potentially AccountDelete.

That would have amounted to a “spend without keys” scenario, the kind of security failure that can cause reputational damage even if losses are limited and addressed quickly.

The flaw could have shattered XRPL's security veneerThe flaw could have damaged XRPL’s security narrative at a sensitive time for the network, which is aggressively expanding into real-world asset (RWA) tokenization and institutional DeFi.

Data from DeFiLlama shows that XRPL has around $50 million in total DeFi values locked on the platform, with nearly $2 billion in RWA assets.

In crypto markets, authorization failures often shape perception long after the underlying technical issue is resolved.

For a ledger positioning itself as infrastructure for regulated finance, such an incident would have carried broader implications.

This is especially true considering XRPL recently introduced a new set of institution-focused features, including Permissioned Domains and DEXs.

These features are designed to create gated trading venues where only approved participants can place and take orders. The model is aimed at institutions that want blockchain-based settlement without open access to all counterparties.

Thus, the security issue would have undermined that message. A network cannot easily be market-controlled or compliance-focused in on-chain environments, while a proposed transaction upgrade carries the risk of unauthorized actions involving arbitrary accounts.

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How XRPL averted the security incidentXRPL’s response moved through governance and software channels quickly.

The unique Node List (UNL) of trusted validators was contacted and advised to vote “No” on the Batch amendment.

On Feb. 23, XRPL published rippled 3.1.1, an emergency release that marks both Batch and fixBatchInnerSigs as unsupported. That prevented the amendments from receiving validator votes or being activated on the network.

The release was designed as immediate containment, not a full repair. The disclosure explicitly stated that the 3.1.1 release does not include the underlying logic fix.

XRPL also scheduled a devnet reset for March 3, 2026, to coincide with the 3.1.1 change. That reset applies to Devnet only, not mainnet, but it shows the extent to which the network’s operators moved to keep the problem from affecting active amendment paths.

A corrected replacement, BatchV1_1, has already been implemented and is under review, with no release date set.

According to the disclosure, the full fix removes the early exit, adds extra authorization guards, and narrows the scope of the signing check.

The report also laid out a broader security roadmap, including more standardized AI-assisted audits, expanded static-analysis checks for dangerous loop exits, and a review of similar patterns elsewhere in the codebase.

The next test is shipping the replacement safelyFor XRPL, February’s outcome will count as a governance success. The bug was found before activation. Validators coordinated. An emergency release blocked the amendment path. No funds were lost.

But the story does not end there.

BatchV1_1 will now be judged on two levels. The first is technical, whether it delivers the developer benefits of atomic transaction bundling without reopening authorization risk.

The second is procedural, whether XRPL’s governance and engineering systems can keep pace with an expanding feature set aimed at institutional adoption.

That is the real backdrop to this near-miss. XRPL is trying to grow into a broader financial platform, one that can host gated trading venues, permissioned environments, and more sophisticated transaction logic, while also attracting builders with ecosystem capital and product breadth.

The more ambitious that roadmap becomes, the more important boring things like signer validation and loop behavior become.

In this case, the brakes worked. The next challenge is to prove the system can accelerate again without losing that margin of safety.

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Traders are moving against Strategy following the prolonged crypto market downturn. With Bitcoin (BTC) price down 50% and altcoins also slipping through resistance levels, traditional investors are changing how they interact with crypto stocks. These are assets whose prices are largely influenced by the crypto market capitalization.

Will Strategy Further Slide 14%? Strategy is on the red end of the U.S. stock market, with bear traders mounting pressure. The company led by prominent Bitcoin advocate Michael Saylor has become the most shorted stock with a market cap above $25 billion.

At the time of writing, bearish bets hit 14% of the stock value, meaning these trades are rooting for a massive drop amid crunching headwinds. Basically, short sellers can borrow money against a stock they expect to slide. This trader behavior, especially when backed by mainstream players, can impact sentiments and trigger a retail sell-off.

A 14% drop in Strategy will see $6 billion wiped off its already dwindling $42 billion market cap. However, this doesn’t mean sudden doom for the asset as there’s still a possibility for sideways trading depending on how bulls perceive the market trajectory.

Today, MSTR stock is up 8% despite being shorted over the past week. The sudden jump hinges on Bitcoin’s price performance in the same period. BTC surged from under $65k to $69k within hours, spiking most crypto stocks. Notably, Strategy was a major gainer due to its exposure to the asset.

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The overall dip in the stock is linked to an over 59% crash in Bitcoin price since October. The top crypto faces severe macro pressure, triggering a bear cycle that has wiped out a significant portion of gains. A major sector affected is treasury accumulations, which fueled much of the bull market.

Last year, BTC price broke multiple all-time highs, going up to $125k. Strategy led the drive behind major institutional capital in Bitcoin before other firms began acquiring. The successes of these firms spilled into altcoins with Ethereum, XRP, and Solana treasury firms. 

In a twist, the number of firms acquiring these assets on their balance sheet is now at monthly lows. Recent data show that only about 2 firms besides Strategy are still picking up more Bitcoin for their treasury. Similarly, spot BTC ETFs cooled in the same period before outflows sank the market.

TLDR: TWIN enables verified trade data to reach UK authorities up to 20 hours earlier than current methods. Four UK trade officials are embedded at IOTA Foundation for 12-month collaboration. Full digital trade adoption could boost UK GDP by 1.3% and save £224B in efficiency gains. IOTA’s live trade transactions are anchored on the mainnet as of January 2026. IOTA is bringing its digital trade infrastructure from Africa to the UK with a £3.5M seed capital boost. The initiative focuses on moving verified trade data ahead of goods reaching the border. 

Delays caused by manual interventions and paperwork could be reduced substantially. The framework integrates with existing systems to improve real-time supply chain transparency.

IOTA’s TWIN Framework and UK Border Testbed IOTA’s Trade Worldwide Information Network, or TWIN, is central to the UK expansion. It allows customs authorities, freight forwarders, and supply chain participants to share verified data. 

TWIN offers open-source APIs for seamless integration with current trade platforms. The project follows successful trials in Africa, demonstrating scalability across multiple jurisdictions.

Partnerships include Teesside University and backing from UK Freeport seed capital. The initiative is a real-world digital trade testbed, not a sandbox experiment. 

TWIN’s design enables errors to be caught before departure, reducing manual corrections. Trials in 2025 showed critical supply chain data reached authorities up to 20 hours earlier.

Four UK Government trade officials are embedded at the IOTA Foundation for 12 months. This integration allows direct collaboration at the protocol level. 

The approach ensures that the framework aligns with government operational needs. It also reflects broader adoption of blockchain in regulatory processes.

IOTA’s technology extends beyond borders, having already contributed to Africa’s trade procedures. Its use in digital IDs across the EU further demonstrates cross-regional applicability. 

By connecting trade data digitally, processing efficiency improves significantly. This move positions IOTA as a key participant in global trade digitization.

For years, $IOTA has been building digital trade infrastructure across Africa.

TLIP
TWIN Foundation
ADAPT

From Digital IDs to immutable data & more.

They've clearly proven competence at the highest level of industry innovation.

Now that same framework's expanding to the UK… pic.twitter.com/RzejlKih4u

— Web3Alert (@theweb3alert) February 27, 2026

Economic Impact and Adoption Potential The UK could see major economic benefits from full digital trade adoption. ICC UK estimates £25B in trade growth and £224B in efficiency savings. 

SMEs could gain up to 35% in operational efficiency, while GDP could rise 1.3%, according to a 2024 LSE study. Real-time data sharing reduces delays, streamlines border inspections, and lowers administrative costs.

Anchoring live trade transactions on the IOTA mainnet started in January 2026. This ensures secure, immutable verification of all supply chain data. 

The framework is built for immediate adoption and scalability across industries. It demonstrates how blockchain can improve national trade operations without disruptive overhauls.

The UK initiative mirrors prior success in Africa and EU collaborations. TWIN’s open-source structure allows flexible integration with any trade infrastructure. 

IOTA is proving the protocol’s adaptability for government-level digital trade. Major industry players increasingly recognize its potential for operational efficiency.

The project underscores a trend of blockchain adoption at institutional and regulatory levels. While retail interest remains modest, governments and regulators are clearly engaging with IOTA. 

The expansion could set a precedent for other countries exploring digital trade frameworks. Verified early trade data is emerging as a new standard for border management.

While the broader crypto market remains under pressure, attention is gradually shifting from fear to opportunity. As selling momentum fades across major assets, traders are increasingly focused on where the next reversal could begin. The XRP price rally narrative is now gaining traction in that context. Despite muted price action, a combination of on-chain accumulation, improving derivatives positioning, rising ETF inflows, and a constructive technical structure suggests that XRP may be approaching a structural bottom. The question now is whether XRP is quietly setting up for its next major move. Let’s take a closer look at what the on-chain data and charts are revealing.

XRP’s Taker Buy-Sell Ratio Shows Buyers Taking ControlOne of the clearest short-term signals comes from the taker buy-sell ratio, which measures whether market participants are entering trades aggressively on the buy or sell side.

Recent data shows the ratio consistently holding above the neutral 1.0 level, with repeated readings in the 1.05–1.12 range. This indicates that buy market orders are dominating, a sign of active demand rather than passive accumulation. Crucially, this shift has occurred while price remains range-bound. Historically, XRP rallies have tended to begin after taker dominance builds quietly, not when price is already breaking out. The current setup suggests traders are positioning early rather than reacting late.

XRP’s Ledger Activity Confirms Network Engagement Is Holding FirmNetwork data from the XRP Ledger reinforces the bullish undertone. Daily transaction counts have remained elevated, fluctuating between 2.1 million and 2.8 million transactions per day, even as price volatility compresses.

This divergence, rising or stable network usage during price consolidation, is typically associated with absorption phases, where demand builds without immediate price expansion. The persistence of ledger activity indicates that XRP’s ecosystem usage remains active, lending credibility to the argument that the current range reflects position-building rather than distribution.

Whale Accumulation Signals Strategic PositioningWallet distribution data adds further weight to the XRP price rally thesis. Addresses holding 10 million to 100 million XRP have shown net accumulation during recent pullbacks, while smaller retail-sized wallets remain largely neutral.

This pattern matters because large holders tend to accumulate during early-stage base formations, not during late-stage rallies. The absence of significant whale outflows also suggests that selling pressure at current levels is limited. In prior cycles, similar accumulation behavior preceded periods of volatility expansion rather than prolonged decline.

ETF Inflows Add Institutional SupportAnother important layer supporting the XRP price rally thesis comes from spot XRP ETF flow data. Over the past week, XRP spot ETFs have recorded consistent positive inflows, with daily additions ranging from $1.2 million to $4.5 million. Cumulative net inflows now stand near $1.24 billion, while total net assets held across XRP ETFs remain stable around the $1.0–$1.06 billion range, despite broader market weakness.

ETF inflows are particularly meaningful because they reflect longer-term institutional positioning, not short-term speculative trading. The fact that inflows are occurring during consolidation, rather than after a breakout, suggests early accumulation rather than momentum chasing. 

XRP Price Analysis: Cup-and-Handle Pattern Takes ShapeXRP’s price chart is displaying a cup-and-handle pattern. The rounded base of the cup reflects a prolonged period of consolidation where selling pressure gradually weakened. This phase is typically associated with accumulation, as price stabilizes and volatility contracts. The current handle formation, a shallow pullback following the rounded recovery suggests controlled profit-taking rather than aggressive selling.

As long as XRP holds above the lower boundary of the handle near $1.20, the structure remains valid. A decisive breakout above the handle resistance, accompanied by volume expansion, would confirm the pattern and signal the start of a trend continuation move. Failure to break higher would likely result in extended consolidation rather than immediate downside, as the broader structure remains intact.

Final ThoughtsThe developing XRP price rally thesis is increasingly supported by measurable data. Buyer aggression is improving, ledger activity remains strong, whales are accumulating, ETF inflows are rising, and a bullish chart structure is forming.

While confirmation still depends on a technical breakout, the evidence suggests XRP may be closer to a bottom than another leg lower. If broader market conditions stabilize, XRP appears structurally positioned to respond quickly when momentum returns.

FAQsIs XRP showing signs of a price reversal?

Yes. Rising buy pressure, whale accumulation, steady ledger activity, and ETF inflows suggest XRP may be forming a structural bottom.

Are whales accumulating XRP right now?

Yes. Wallets holding 10M–100M XRP have increased holdings during pullbacks, a pattern commonly seen in early base-building phases.

How do ETF inflows impact XRP price?

Consistent ETF inflows reflect institutional accumulation, which can improve long-term stability and support future upside momentum.

Why is XRP price down today?

XRP is down due to broader crypto market weakness, profit-taking near resistance, and short-term volatility despite steady on-chain demand.

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Right now, Polymarket traders are giving Bitcoin (BTC 5.13%) only a 12% chance of hitting $150,000 by the end of the year. Given Bitcoin's current price of $68,000, there's basically a 1-in-8 chance of Bitcoin soaring in value by 120% to close out the year.

If you're thinking about investing in Bitcoin, are those odds that you're willing to take? To answer that question, it's helpful to consider several key factors.

Bitcoin's track record of triple-digit returns Expecting any asset to soar in value by 100% or more in a single year is a lot to ask. But not so much for Bitcoin. In the period from 2012 to 2025, Bitcoin delivered triple-digit returns in seven of those years. That's half of the time.

Image source: Getty Images.

The high-water mark came back in 2013, when Bitcoin soared by 5,428%. But even as recently as 2023 and 2024, Bitcoin turned in triple-digit returns. In 2023, Bitcoin skyrocketed by 157%, and in 2024, Bitcoin soared by 125%.

Moreover, Bitcoin never had back-to-back losing years during that time period. Bitcoin was down slightly in 2025, so that would seem to suggest that a winning year is on tap for 2026.

So let's reframe the odds of Bitcoin hitting $150,000 this year. Instead of a 1-in-8 chance of that happening, what if it's closer to a 1-in-2 chance?

Data from the Bitcoin derivatives market In many ways, event contracts traded in prediction markets are really just a new type of financial derivative. Just like futures or options, they can be used to speculate on asset prices, or they can be used to hedge existing positions.

That's why it's always worth taking a look at what's happening in the Bitcoin derivatives market. There, incredibly sophisticated investors armed with MBAs and powerful computers are constantly pricing Bitcoin far out into the future.

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And there, the picture may not be as dire as it does in the prediction markets. The market to watch is the one for call options on the iShares Bitcoin Trust (IBIT 2.80%), which is the leading Bitcoin ETF in the world. It's also a big favorite of institutional investors when it comes to managing exposure to the crypto market.

Crypto market sentiment Right now, crypto market sentiment is near an all-time low. My go-to metric here is the Crypto Fear & Greed Index, which has a current reading of 14 out of 100. Any number under 20 is considered to be "extreme fear," so right now, traders are very scared of what comes next.

That might help to explain why they are only giving Bitcoin a 12% chance of hitting $150,000 this year. After four straight months of crypto price declines, they are not in any mood to talk about Bitcoin hitting new all-time highs. Most likely, they are hunting for investment alternatives elsewhere.

So here's my take: Based on past historical performance and current market sentiment, the 12% odds set by Polymarket appear to be too low. The time to buy is when others are fearful, which is why I'm loading up on Bitcoin in 2026.

TL;DR

Long‑Term Outlook: MemeCore’s forecasts show wide divergence, reflecting its blend of speculation, ecosystem growth, and shifting market structure. Key Drivers: Regulation, sentiment, adoption, and technical patterns shape projections from modest gains to extreme multi‑year appreciation. 2032 Trajectory: Models range from steady mid‑single‑digit valuations to highly aggressive triple‑digit scenarios tied to major ecosystem expansion.
MemeCore (M) has emerged as one of the more intriguing assets in the meme‑token sector, blending speculative momentum with expanding ecosystem ambitions. Market data places MemeCore among the top meme tokens, with indicators showing mixed sentiment and elevated volatility. Technical metrics such as the 50‑day and 200‑day SMAs, alongside a neutral RSI, reflect a market still searching for direction. Forecast models from multiple analytical platforms suggest that MemeCore could experience significant price swings over the coming years, driven by both macro‑market conditions and the project’s internal developments.

Why Long‑Term Predictions Matter Price predictions for MemeCore between 2026 and 2032 rely heavily on its evolving fundamentals, regulatory positioning, and community‑driven momentum. Analysts highlight that MemeCore’s expansion plans, such as potential regulatory breakthroughs in South Korea and ecosystem growth through initiatives like MemeX, could influence long‑term valuation. At the same time, the token’s meme‑driven nature means sentiment, hype cycles, and derivatives activity will continue to play a major role in shaping price behavior.

Forecasts from various sources project end‑of‑year targets ranging from moderate growth to substantial multi‑year appreciation, with some models estimating values above $2 by 2026 and further increases by 2030. These projections underscore the importance of understanding both the speculative and structural forces that may guide MemeCore’s trajectory through 2032.

MemeCore 2026 to 2032 Price Prediction 2026, MemeCore: Early Market Momentum and Trend Formation CoinCodex suggests that 2026 could be a year of wide price fluctuations for M, with projections placing the asset inside a trading corridor stretching from $0.9573 to $3.81. That range produces an estimated average annual price of $1.48, implying a potential ROI of 174.64% if the token manages to capitalize on market momentum. Such a broad channel highlights the speculative nature of the asset.

Other technical assessments paint a slightly different picture, offering a more concentrated set of expectations for the token’s performance in 2026. According to expert analysis, M could establish a minimum value near $1.76 while pushing toward a maximum of $3.36, with the average trading level hovering around $2.47. These figures indicate a more stable outlook.

2027, MemeCore: Assessing Mid‑Cycle Growth Potential

DigitalCoinPrice’s outlook for 2027 points to the possibility of M breaking above the $2.40 threshold and sustaining that level by year‑end. Their projections place the token’s lower range between $1.05 and $2.40, while the most probable trading zone sits near $1.64 as the year closes. This suggests a scenario where the asset maintains moderate upward pressure.

A separate technical perspective highlights structural momentum that could influence the token’s behavior. Analysts note that the existing formation may continue driving price action, especially if liquidity pushes above the $0.70–$0.75 region. In this view, the breakout pattern could expand into a broader ascending channel, potentially guiding the asset toward $0.84.

2028, MemeCore: Navigating Volatility in a Maturing Ecosystem CoinDataFlow’s experimental forecasting model points to a potentially constructive year for M in 2028, projecting that the asset could climb by 41.62% under favorable market conditions. In its best‑case scenario, the token may reach $1.95, while overall price action is expected to fluctuate between $1.95 and $0.742491 throughout the year. This range reflects a market still driven by speculative dynamics.

A separate round of technical evaluations paints a far more aggressive outlook for the same period. According to expert analysis, M could establish a minimum value near $7.19 and potentially extend toward a maximum of $13.95, with an average trading level around $10.21. Such projections imply a scenario where the token experiences substantial appreciation.

2029, MemeCore: Long‑Term Expansion and Investor Confidence

Forecast data for 2029 points to a relatively contained trading range for M, with projections placing the asset between $1.36 and $2.02 throughout the year. This corridor produces an estimated average annual price of $1.75, which translates into a potential 45.58% return on investment if the token performs in line with these expectations.

Another technical perspective highlights a more dynamic setup, indicating that the asset could enter an accelerated phase as long‑term breakout zones are revisited. Trend indicators such as the weekly MACD and DMI hint at the possibility of a rally toward $1.45, provided that earlier demand zones remain intact. At the same time, analysts note that consolidation between $0.95 and $1.05 may define the token’s average trading environment.

2030, MemeCore: Projected Breakout Zones and Market Catalysts Projections for 2030 point toward a significant expansion phase for M, with analysts anticipating that the asset could push into new valuation territory. Forecasts suggest the token may surpass $2.37, marking a potential milestone in both price and market capitalization. Within this outlook, the expected range places the maximum near $2.37 and the minimum around $1.71 over the next five years from 2030.

Other technical evaluations present a far more ambitious picture for the same year. According to expert analysis, M could trade within a dramatically higher band, establishing a minimum near $26.52 and potentially reaching a maximum of $47.19, with an average trading level around $35.89. Such elevated projections imply a scenario where the asset experiences explosive growth.

2031, MemeCore: Evaluating Sustainability in a Competitive Landscape

Experimental simulations for 2031 point toward a strong expansion phase for M, with projections indicating the asset could climb by 153.93% under favorable market conditions. In the most optimistic scenario, the token may reach $3.50, while overall price action is expected to fluctuate between $3.50 and $1.54 throughout the year.

According to expert analysis, M could establish a minimum near $47.55 and potentially extend toward a maximum of $81.7, with an average trading level around $63.12. These elevated projections imply a dramatic revaluation of the asset, likely tied to major ecosystem developments or a surge in investor participation.

2032, MemeCore: Final Outlook for Multi‑Year Price Trajectory Forecasts for 2032 indicate that M could begin the year with a move toward $3.74, according to long‑range predictive models. Both the early‑year and end‑year targets align at $3.74, suggesting a relatively consistent outlook for the asset throughout the period. Analysts also note that the token may reach up to $3.01 during the year.

Technical evaluations from cryptocurrency experts present a dramatically higher valuation range for the same year. Their projections place the minimum price near $82.08 and the maximum around $137, with an average trading level close to $107. This scenario reflects a far more aggressive appreciation curve, one that assumes substantial ecosystem expansion, increased adoption, or heightened speculative demand.

Conclusion MemeCore’s long‑term outlook reflects a blend of speculation, ecosystem growth, and shifting market structure. Forecasts vary widely, but all highlight the token’s sensitivity to sentiment, regulation, and adoption. As MemeCore evolves through 2032, its trajectory will depend on whether fundamentals can keep pace with its meme‑driven momentum.

The Price Predictions published in this article are based on estimates made by industry professionals; they are not investment recommendations, and it should be understood that these predictions may not occur as described.

The content of this article should only be taken as a guide, and you should always carry out your own analysis before making any investment.

Tether blocked billions in USDt tied to scams and laundering cases as authorities increasingly rely on stablecoin issuers to halt suspicious funds.

Stablecoin issuer Tether has reportedly frozen roughly $4.2 billion worth of its USDt tokens connected to suspected criminal activity over the past three years.

Most of the blocked funds were restricted since 2023, as regulators and law enforcement agencies intensified scrutiny of crypto-related fraud and sanctions evasion, the El Salvador-based firm reportedly told Reuters on Friday.

Tether’s dollar-pegged USDt (USDT) token is the largest stablecoin in circulation, with more than $180 billion outstanding, up sharply from about $70 billion three years ago.

Tether can freeze tokens directly on the blockchain by blacklisting wallet addresses when requested by authorities.

Tether helps governments freeze fundsOn Tuesday, Tether announced that it has assisted the US Department of Justice in seizing nearly $61 million in USDt tied to “pig-butchering” scams, a scheme in which criminals build relationships with victims before persuading them to send money.

Earlier this month, the company also froze approximately $544 million in cryptocurrency at the request of Turkish authorities, blocking funds tied to an alleged illegal online betting and money-laundering operation.

According to blockchain analytics firm Elliptic, by late 2025, stablecoin issuers Tether and Circle had blacklisted around 5,700 wallets holding about $2.5 billion, with roughly three-quarters of the addresses containing USDt when they were frozen.

USDt supply shrinks As Cointelegraph reported, USDt is on track for its largest monthly supply drop in three years, with circulating supply falling about $1.5 billion in February after a $1.2 billion decline in January, according to blockchain data. The contraction echoes the period following the FTX collapse in late 2022 and may point to tighter liquidity in crypto markets.

USDt market cap drops in past month. Source: CoinMarketCapTether said the figures reflect short-term distribution changes rather than weakening demand, noting USDC (USDC) also saw a multibillion-dollar reduction during the same period.

Magazine: Bitcoin may take 7 years to upgrade to post-quantum — BIP-360 co-author

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Cardano introduced its new stablecoin, USDCx, backed by Circle’s USDC. The new stablecoin will help expand DeFi and improve interoperability across the blockchain network.
The announcement follows Cardano’s introduction of its new stablecoin, USDCx, which Circle backs 1:1 with its widely used USDC. The launch of USDCx has further enhanced Cardano’s footprint in decentralized finance. Cardano introduced the new stablecoin as an interoperable asset that can operate across connected blockchain networks.

The team introduced the new stablecoin to facilitate seamless value transfers without price fluctuations. It has been further perceived as a bridge between Cardano and other decentralized finance networks that are anchored with USDC. The new stablecoin has been issued with a mechanism that ensures each token is fully backed by Circle’s USDC.

This backing aims at maintaining price stability and trust among users using the new asset. Cardano developed the USDCx using the capabilities of its native assets. This took advantage of the multi-asset ledger of the blockchain to enable direct transfers without the use of smart contracts. Cardano developers and partners have indicated that the USDCx will enable payment, yield, and DeFi opportunities.

USDCx on @Cardano, a USDC-backed stablecoin with seamless access to crosschain USDC liquidity, is now available via Circle xReserve.

With USDCx, enterprises and end users can power payments, lending, trading, borrowing, liquidity provision, and more using a highly liquid… pic.twitter.com/zPnVyuImZg

— Circle (@circle) February 27, 2026 Interoperability and DeFi Growth on Cardano The introduction of USDCx also points to the need for interoperability in the decentralized landscape, as it can connect to other chains through supported bridge protocols. Analysts point out that the presence of stablecoins in the market often indicates the extent of DeFi participation and access to market liquidity.

The presence of stablecoins such as USDCx could also indicate the potential for the Cardano blockchain to attract new decentralized applications and liquidity mining projects, according to analysts. The blockchain has also set out to achieve interoperability at the layer, allowing assets to move smoothly across the connected chains with minimal friction. The team also points out that the introduction of USDCx is also in line with the improvements to the smart contract environment and tools.

The developers also believe that improved tooling will enable more DeFi primitives and experiences in the future. Payment platforms and custodial services will likely support USDCx for euro and dollar-linked transactional flows. Analysts consider the rate of adoption of stablecoins an important measure for the maturity and functionality of blockchain projects. The introduction of USDCx could potentially boost the competitive landscape for stablecoins across multiple layer-1 blockchains.

Highlighted Crypto News:

XRPL Foundation Fixes Major Bug Just Ahead of Mainnet Release

I specialize in Web3 and crypto writing, producing clear, research-driven content on blockchain, cryptocurrencies, and market trends.

Bitcoin could see further downside risks as Iran attacks U.S. bases across Middle EastTehran launched waves of missiles and drones targeting Israel, U.S. bases, and Gulf allies, with explosions reported in Dubai, Kuwait, and Bahrain. Feb 28, 2026, 10:26 a.m.

What started as an Israeli strike on Iran hours earlier has escalated into the broadest Middle Eastern military conflict in decades, posing a risk to financial markets, including cryptocurrencies.

Per reports on Bloomberg, CNN and Reuters, Iran launched waves of missiles and drones targeting not just Israel but U.S. bases and interests across the Gulf. Bahrain confirmed an American military base had been attacked. Qatar and the UAE said they intercepted missiles over their territory. Explosions were heard in Dubai. Bahrain closed its airspace entirely.

Iran's semi-official Tasnim news agency said all U.S. bases and interests in the region would be targeted.

President Trump said the U.S. had begun "major combat operations in Iran" aimed at eliminating the country's missile inventory, navy, and nuclear infrastructure. "The lives of courageous American heroes may be lost and we may have casualties," he said. "That often happens in war."

Bitcoin, which had already fallen below $64,000 on the initial Israeli strikes, held above $63,000 as the retaliatory wave hit. The relative stability is partly mechanical. Weekend liquidity is thin, and many leveraged positions that would amplify a sell-off were already flushed during the week's slide from $70,000.

But the real test comes when traditional markets reopen on Monday. Bitcoin tends to absorb the first wave of geopolitical selling because it's the only large liquid asset that trades on a Saturday afternoon.

Equities, oil, and bonds don't have that option until Sunday evening futures or Monday's open. If those markets gap sharply lower, bitcoin could face a second wave of risk-off selling as portfolio managers de-risk across all asset classes simultaneously.

That could potentially open a path to $60,000 or lower.

Previous Middle East escalations have followed a pattern where bitcoin drops on the initial shock and recovers once traditional markets absorb the news and the situation appears contained. Iran's retaliatory strikes on Israel in April 2025 played out that way. So did earlier tensions in 2020.

This time the containment thesis is much harder to make. Missiles landing in Dubai, Kuwait, and Bahrain isn't a bilateral exchange. It's a regional war touching some of the most economically sensitive territory on the planet.

The downside risk is straightforward. If the conflict broadens, oil prices could surge on both sides of the Atlantic, potentially leading to global risk aversion and deeper losses in bitcoin. While the cryptocurrency is often seen as digital gold, it has historically traded more like a risk asset, not a safe haven.

The $60,000 floor that held during the Feb. 5 crash becomes the next line of defense, and it will be tested under far more severe conditions than a leverage flush.

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Oil-linked futures on Hyperliquid’s HIP-3 surged after U.S. and Israeli strikes on Iran reignited fears of supply shocks.

What to know:

Perpetual futures tied to oil prices on decentralized exchange Hyperliquid jumped more than 5% after coordinated U.S. and Israeli missile strikes on Iran.Gold and silver perps also rallied. Iran is not only a major oil producer but also poses a potential maritime threat in the Strait of Hormuz — a critical chokepoint for global oil supply.

Shares of Lucid Group (LCID 5.48%) are trading at a touch below $10. That's an interesting level because the stock underwent a 1-for-10 reverse split in late August 2025. If that reverse split hadn't been implemented, Lucid would be a penny stock right now. Investors looking at this electric vehicle start-up should probably tread with caution.

The problems Lucid Group is facing Lucid Group's share price has declined roughly 50% since the reverse stock split. To be fair, it isn't uncommon for stocks to fall following a reverse stock split. However, that's still a material decline in roughly six months. Wall Street is clearly very concerned about the company's long-term prospects.

Image source: Getty Images.

There are good reasons for that. For example, the company has been bleeding red ink for years. Again, that's not surprising, given the huge capital investments required to build a car manufacturing business from the ground up. While Lucid is trying to exploit the emerging market for all-electric vehicles to break into the automotive sector, it is a huge undertaking, and many competitors have already failed in the effort.

The company's fourth-quarter 2025 production rose dramatically, and its revenue was materially higher year over year, which is good. But it still fell short of analyst expectations, and on an absolute basis, it is bleeding red ink at a troubling rate. Even taking out one-time items, Lucid lost $3.08 in the quarter. For the full year, the company lost just over $12 per share.

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Lucid remains a tiny competitor Lucid has award-winning cars and attractive battery technology, and it is ramping up production very quickly. However, even if it achieves its goal of producing 27,000 EVs in 2026, its production is little more than a rounding error compared to its larger EV peers. For example, automotive giant Tesla (TSLA 1.52%) produced 1.65 million vehicles in 2025.

Basically, Lucid is a money-losing upstart that's still way behind its most successful EV peers. While it has $4.6 billion in liquidity, that may not be enough to turn this still-developing carmaker into a sustainably profitable business.

Only the most aggressive investors should be looking at Lucid. Given the company's modest scale, the question isn't how high the stock could rise if it succeeds, but how low it could fall if it fails. The answer to that question is, worryingly, zero if the company finds itself in bankruptcy court, as fellow EV upstarts Nikola, Canoo, and Fisker have

Hikma Pharmaceuticals PLC (HKMPY) Q4 2025 Earnings Call Prepared Remarks Transcript

The joint venture of VAALCO Energy and Canadian Natural Resources has completed major FPSO repairs. The FPSO's return signals an end to the possibility of significant excess expenditures. Field production is expected to resume by the end of March. That shifts the asset from a cost center back to a revenue generator.

Q4: 2026-02-25 Earnings SummaryEPS of $1.43 beats by $0.17

 |

Revenue of

$1.80B

(10.12% Y/Y)

beats by $11.21M

Urban Outfitters, Inc. (URBN) Q4 2026 Earnings Call February 25, 2026 5:00 PM EST

Company Participants

Oona McCullough - Executive Director of Investor Relations
Richard Hayne - Co-Founder, Chairman & CEO
Francis Conforti - COO & Co-President
Melanie Marein-Efron - Chief Financial Officer
Tricia Smith - Global Chief Executive Officer of Anthropologie Group
Shea Jensen - President of Urban Outfitters Brand of North America
David Hayne - Chief Technology Officer & President of Nuuly
Sheila Harrington - Global CEO Urban Outfitters Group & CEO of Free People Group

Conference Call Participants

Lorraine Maikis - BofA Securities, Research Division
Paul Lejuez - Citigroup Inc., Research Division
Amanda Douglas - JPMorgan Chase & Co, Research Division
Dana Telsey - Telsey Advisory Group LLC
Mark Altschwager - Robert W. Baird & Co. Incorporated, Research Division
Brooke Roach - Goldman Sachs Group, Inc., Research Division
Jay Sole - UBS Investment Bank, Research Division
Marni Shapiro - The Retail Tracker
Irwin Boruchow - Wells Fargo Securities, LLC, Research Division
Simeon Siegel - Guggenheim Securities, LLC, Research Division
Janet Kloppenburg - JJK Research Associates, Inc.

Presentation

Operator

Good day, ladies and gentlemen, and welcome to the Urban Outfitters, Inc. Fourth Quarter Fiscal '26 Earnings Call. [Operator Instructions]

I would now like to introduce Oona McCullough, Executive Director of Investor Relations. Ms. McCullough, you may begin.

Oona McCullough
Executive Director of Investor Relations

Good afternoon, and welcome to the URBN Fourth Quarter Fiscal 2026 Conference Call. Earlier this afternoon, the company issued a press release outlining the financial and operating results for the 3- and 12-month period ending January 31, 2026. The following discussions may include forward-looking statements. Please note that actual results may differ materially from those statements. Additional information concerning factors that could cause actual results to differ materially from projected results is contained in the company's filings with the Securities and Exchange Commission.

For more detailed commentary on quarterly

Diageo remains a buy despite a 40% drawdown, with shares trading at an attractive 10.5x P/E. The new CEO is executing a turnaround with cost controls, portfolio rebalancing, and a renewed price ladder strategy to drive medium-term resilience. US Spirits headwinds are acknowledged, but expectations are being reset as destocking nears completion.

Terex Corporation is rated Buy, driven by a strategic pivot to less cyclical, replacement-driven markets and a robust backlog. TEX's FY2026 revenue is projected at $7.5–$8.1 billion, with pro forma EBITDA guidance of $930 million to $1.0 billion and margin expansion. The REV acquisition underpins stable, recurring demand, with $75 million in expected synergies and significant backlog in Specialty Vehicles.

AXA SA (AXA:CA) Q4 2025 Press Conference Call February 26, 2026 5:00 AM EST

Company Participants

Ziad Gebran
Thomas Buberl - CEO & Director
Guillaume Borie - Global Head of Finance, Strategy, Underwriting, Risk & Technology
Alban Nesle - Group Chief Financial Officer
Mathieu Godart - Chief Executive Officer of AXA IARD & Partnerships
Patrick Cohen - Chief Executive Officer of European Markets & Health
Nancy Bewlay - Group Chief Underwriting Officer

Conference Call Participants

Thierry Gouby

Presentation

Ziad Gebran

[Interpreted] Hello, everyone. We are delighted to welcome you this morning for this conference press for the presentation of the annual results of the AXA Group. You probably saw that this morning, we published our press release. Thomas Buberl, CEO of the Group; Guillaume Borie, Strategy, Finance, Underwriting and Risk and Group's Technology; Alban de Mailly Nesle, CFO; Mathieu Godart, AXA France's CEO, will deep dive into these figures, into this performance after the presentation. You can obviously ask your questions. And then the press conference will be followed by lunch with Thomas Buberl and all members of the management committee with whom you can dialogue.

I will now turn it over to the AXA Group's CEO, Thomas Buberl.

Thomas Buberl
CEO & Director

[Interpreted] Good morning, everyone. Welcome to the press conference presenting the AXA Group's 2025 annual earnings. Before we begin this presentation, I would like to come back to the latest weather-related events that took place in our territory in recent days. Tens of thousands of homes have been impacted by the natural catastrophes and our thoughts, of course, are with all these victims.

From the very start of the severe weather, our AXA teams were fully mobilized, involved both on the ground and remotely and certainly to support our policyholders at every step in this difficult situation as regards claims, processing, administrative procedures, emergency relocation

Iberdrola is a global renewable utility leader, with 65% of business outside Spain and ~86% of generation from renewables. Despite a premium valuation (P/E 32.4, PEG 3.99), IBDRY remains a buy due to strong regulated asset base growth and revenue visibility. IBDRY targets expanding its regulated asset base from €51B to €70B by 2028, supported by €58B in strategic investments and robust cash flow.

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MURGY) Q4 2025 Earnings Call Transcript

Sezzle Inc. offers a BNPL platform targeting millennial and Gen-Z consumers, showing robust growth and profitability despite recent stock volatility. SEZL's Q3 2025 revenue surged nearly 3x YoY to $116.8M, with gross merchandise volume up 59% and revenue-generating users increasing 120%. Management has raised guidance, projecting FY26 adjusted net income per diluted share at $4.35, and is aggressively investing in marketing to drive subscription revenue.

VANCOUVER, BC / ACCESS Newswire / February 28, 2026 / Storm Exploration Inc. (TSXV:STRM) ("Storm" or the "Company") today announced that it has issued 318,629 common shares to the Eabametoong First Nation ("EFN"), pursuant to the Exploration Agreement dated May 16, 2024, and further amended on April 29, 2025 (the "Exploration Agreement") between the Company and the EFN.

Storm issued the shares to the EFN at a 30-day volume-weighted average price of $0.235 per share, having an aggregate value of $75,000. This completes complete the initial and first anniversary share payments outlined in the Exploration Agreement.

The Company also announced that it has granted 870,000 stock options to certain directors, officers and consultants of the Company. Each stock option is exercisable at $0.25 per common share and expires on February 27, 2031.

About Storm Exploration Inc.

Storm Exploration is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on three district-scale projects in northwest Ontario: Keezhik, Attwood and Gold Standard.

For further information, please contact:

Storm Exploration Inc.
T: +1 (604) 506-2804
E: [email protected]

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

SOURCE: Storm Exploration Inc.