Market Signal Briefing

NEW YORK--(BUSINESS WIRE)--Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of agilon health, inc. (NYSE: AGL) resulting from allegations that agilon health may have issued materially misleading business information to the investing public. So What: If you purchased agilon health securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arr.

REDWOOD CITY, Calif., Oct. 16, 2025 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that the U.S. Food and Drug Administration (FDA) has granted a non-transferrable voucher for daraxonrasib (RMC-6236), the company’s RAS(ON) multi-selective inhibitor, under the Commissioner's National Priority Voucher (CNPV) pilot program.

Daraxonrasib is being studied in two global Phase 3 clinical trials, RASolute 302 in patients with previously treated metastatic pancreatic ductal adenocarcinoma and RASolve 301 in patients with previously treated metastatic non-small cell lung cancer.

“We are honored to receive one of the first vouchers awarded under the Commissioner's National Priority Voucher pilot program. As with the Breakthrough Therapy Designation daraxonrasib received earlier this year, we believe this voucher recognizes the large unmet need for new treatments for patients with RAS-addicted cancers and the potential of the investigational drug daraxonrasib to transform treatment for these diseases, including pancreatic cancer,” said Mark A. Goldsmith M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “With an expected data readout from RASolute 302 in 2026, we look forward to participating in the CNPV program and working with the FDA to bring daraxonrasib to patients.”

The FDA has designed the CNPV pilot program with the goal of accelerating the development and review of certain drugs and biological products that are aligned with U.S. national health priorities and enhancing the health interests of Americans. 

The company is evaluating the impact of the voucher it received under the CNPV pilot program and is not adjusting any of its previously disclosed timelines at this time.

About Daraxonrasib
Daraxonrasib (RMC-6236) is an oral, direct RAS(ON) multi-selective inhibitor with the potential to help address a wide range of cancers driven by oncogenic RAS mutations. Daraxonrasib suppresses RAS signaling by blocking the interaction of RAS(ON) with its downstream effectors. It does so by targeting oncogenic RAS mutations G12X, G13X and Q61X that are common drivers of major cancers, including pancreatic ductal adenocarcinoma (PDAC), non-small cell lung cancer (NSCLC) and colorectal cancer (CRC).

About Revolution Medicines, Inc.
Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; and zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor, are currently in clinical development. The company anticipates that RMC-5127, a RAS(ON) G12V-selective inhibitor, will be its next RAS(ON) inhibitor to enter clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding: the company’s development opportunities, plans and timelines and its ability to build or advance its portfolio and R&D pipeline; the company’s expectations regarding timing of clinical trial initiation, enrollment and data readouts or disclosures; the potential for any of the company’s investigational products, including daraxonrasib, to become a standard of care; and the operations of CNPV pilot program and the impact of the company’s participation in this program. Forward-looking statements are typically, but not always, identified by the use of words such as "will," "believe," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ current stage of development, the process of designing and conducting preclinical and clinical trials, risks that the results of prior clinical trials may not be predictive of future clinical trials, clinical efficacy, or other future results, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on August 6, 2025, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

Revolution Medicines Media & Investor Contact:
[email protected]
[email protected]

TSX:ORV

, /PRNewswire/ - Orvana Minerals Corp. (TSX: ORV) (the "Company" or "Orvana") is pleased to report production and exploration updates for the fourth quarter of fiscal year 2025 ("Q4 FY2025) ending September 30, 2025 from Orovalle (Spain).

Highlights

Figure 1. Longitudinal section B-B’ and intercepts (not true width) (CNW Group/Orvana Minerals Corp.)

Figure 2. Plan view (CNW Group/Orvana Minerals Corp.)

Q4 FY2025 Production: 7,587 gold equivalent ounces (6,317 gold ounces, 0.8 million copper pounds and 24,279 silver ounces).
FY2025 Production: 35,705 gold equivalent ounces (29,276 gold ounces, 3.6 million copper pounds and 115,466 silver ounces).
Q4 FY2025 Exploration: 2,652 m of Infill and Brownfield drilling, with key intercepts in Area A2 as follows:

18.75 g/t gold over 8.7 m
14.68 g/t gold over 9.0 m
11.02 g/t gold over 16.8 m
9.36 g/t gold over 26.7 m

Following the strong exploration progress and steady operations at Orovalle, management provided an update on the Company's strategic priorities at Orovalle. Juan Gavidia, CEO of Orvana, commented,  "Encouraging drilling results at El Valle Boinás during the quarter support the ongoing brownfield program, which aims to increase resource inventory and replace mined reserves. Our objective remains to manage mineral resources efficiently to support mine life extension, subject to ongoing geological and operational assessments".

"This quarter marked a key milestone: the ramp-up of operations at Carlés. In 2026, with both El Valle Boinás and Carlés operating in parallel, we aim to reduce operational risk associated with ore extraction by having access to ore from two independent deposits ", he added.

Orovalle – Q4 FY2025 Production Results

The mill processed approximately 101,140 dry tonnes during Q4 FY2025, 13% lower than the prior quarter as a result of planned summer maintenance shutdowns. At fiscal year-end, 12,096 wet tonnes were in stockpiles, which will be processed during the first quarter of fiscal 2026.
6,317 gold ounces produced in Q4 FY2025, 26% lower than the previous quarter primarily due to 13% lower tonnes milled and 12% lower gold grade,  mainly resulting from processing ore sourced from different areas of the El Valle Boinás mine.
0.8 million copper pounds produced in Q4 FY2025, 13% lower than the previous quarter mainly due to lower tonnes processed.
Orovalle –FY2025 Production Results

Gold production of 29,276 ounces during the fiscal year 2025 was approximately 2% below the lower end of the fiscal year 2025 production guidance of 30,000 to 31,000 ounces. The variance primarily reflects the concentration of stope ore extraction in the latter half of September, which limited in-month processing capacity. The material was therefore stockpiled and is scheduled for milling in fiscal 2026.
Copper production of 3.6 million pounds during the fiscal year 2025 met the 2025 production guidance of 3,500 to 3,700 K lbs.

Q4 FY2025 

Q3 FY2025 

Q4 FY2024 

FY2025 

FY 2025 

Revised Guidance 

Ore milled (tonnes)

101,140

116,626

139,275

447,687

Gold equivalent (oz)(1)     

7,587

10,008

11,862

35,705

Gold

    Grade (g/t)

2.13

2.43

2.39

2.20

    Recovery (%)

91.0

93.6

92.5

92.4

    Production (oz)

6,317

8,536

9,888

29,276

30,000 - 31,000

Copper

     Grade (%)

0.44

0.42

0.41

0.44

     Recovery (%)

79.3

82.0

75.8

82.9

     Production (K lbs)

773

886

961

3,612

3,500 - 3,700

Silver

     Grade (g/t)

9.54

9.86

8.9

10.0

     Recovery (%)

78.2

80.4

75.0

80.0

     Production (oz)

24,279

29,752

29,864

115,466

(1) Gold Equivalent Ounces ("GEO") is a Non-GAAP Financial Performance Measure. Non-GAAP measures do not have standardized meanings under IFRS and may not be comparable to similar measures of other issuers. For further information and detailed reconciliations, please see the "Non-GAAP Financial Performance Measures" section of the Company's latest MD&A. GEO were calculated using the following average market prices:

Q4 FY2025:  $3,455.50/oz Au, $39.38/oz Ag, $4.44/lb Cu
Q3 FY2025:  $3,279.16/oz Au, $33.64/oz Ag, $4.32/lb Cu
Q4 FY2024:  $2,476.80/oz Au, $29.42/oz Ag, $4.17/lb Cu
FY2025:        $3,064.71/oz Au, $34.07/oz Ag, $4.29/lb Cu

Orovalle – Q4 FY2025 Drilling Update

The El Valle Boinás program remains focused on oxide areas, with the goal to extend the A2 mineralization southward. Drilling returned multiple high-grade intercepts between 160 m.a.s.l. and 360 m.a.s.l. outside of the previously defined resource boundary, supporting the target of expanding resources. See Figure 1 below for drilling results carried out in Q4 along a longitudinal section.

A total of 1,920 m were drilled in A2 across 8 drill holes, successfully extending the mineralized structure over a 40 m strike length and maintaining a vertical depth of 120 m.

Mineralization is concentrated within bands, with variable thickness, between 5-10 m, of altered skarn and semi-jasperoid breccias, preferentially along fractures N30ºE/35SE within the limestone; subsequently, the intrusion of porphyry dikes led to silicification and mineral enrichment of these bands. The mineralized bands are dipping towards the southeast, with potential for further extension in that direction.

Figure 2 presents a plan view of the two most recently drilled sections: A–A', whose results were disclosed in the January 16, 2025 press release, and B–B' (see Figure 1). The figure illustrates that the oxide structures remain open to the south.

The drilling program for the first quarter of fiscal 2026 ("Q1 FY2026") is focused on further defining and expanding the mineral potential of these structures to the south.

At the Ortosa-Godan Project, a total of 493 metres were drilled during the quarter, completing the third drill hole of the FY2025 campaign. Drill core sample analyses are currently underway and are expected to be completed during Q1 FY2026. Based on the results obtained, the next steps will be defined.

Summary of Q4 Drilling Program:

Drilled Meters

Infill 

Brownfield 

Greenfield 

TOTAL 

El Valle Boinás

  Area 208 (A2)

-

1,920

-

1,920

  Boinás East (BE)

439

-

-

439

  Boinás South (SB)     

293

-

-

293

Ortosa-Godán

-

-

493

493

TOTAL

732

1,920

493

3,145

Quality Control

Greenfield drill hole samples were sent to an external laboratory (ALS Laboratory) for analyses. Infill and brownfield drill holes samples were analyzed in Orovalle's Laboratory.

Sample preparation was carried out at the El Valle facility. All diamond core samples have been prepared using the following procedure, once split:

The core samples are dried at a temperature of 105ºC and then crushed through a jaw crusher to 70%<6 mm. The coarse-crushed sample is further reduced to 70%<425 microns using an LM5 bowl-and-puck pulverizer. An Essa rotary splitter is used to take a 450 g to 550 g sub-sample of each split for pulverizing. The remaining reject portion is bagged and stored. The sample is reduced by 85% to a nominal -200 mesh using an LM2 bowl-and-puck pulverizer. 150 g sub-samples are split using a special vertical-sided scoop to cut channels through the sample which has been spread into a pancake on a sampling mat.  Samples are then sent to the laboratory for gold and base metal analysis. Leftover pulp is bagged and stored. After sample preparation, 30g samples are analyzed for Au by fire assay with an atomic absorption.

The technical information in this news release, including geological, assay, and drilling interpretation data, has been reviewed and approved by Guadalupe Collar Menéndez, a Qualified Person under National Instrument 43-101 and an employee of Orovalle Minerals S.L., a subsidiary of Orvana.

Consolidated Operational and Financial Performance:

Project updates for Bolivia and Argentina, and Q4 FY2025 consolidated operational and financial highlights will be released with the fourth quarter financials, expected mid-December, 2025.

FY2026 guidance will be released with FY2025 year-end financials.

ABOUT ORVANA – Orvana is a multi-mine gold-copper-silver company. Orvana's assets consist of the producing Orovalle operation in northern Spain; the Don Mario operation in Bolivia, currently in plant expansion; and the Taguas property located in Argentina. Additional information is available at Orvana's website (www.orvana.com).

Cautionary Statements – Forward-Looking Information

Certain statements in this news release constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects", "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might", "will", "are projected to" or "confident of" be taken or achieved) are not statements of historical fact, but are forward-looking statements.

The forward-looking statements herein relate to, among other things, including Orvana's expectations for the ramp-up of operations at the Carlés Mine and its impact on reducing operational risk and improving production consistency, as well as the planned parallel operation of El Valle Boinás and Carlés Mines; the ability to extend mine life and replace mined reserves through brownfield exploration at El Valle Boinás, and the potential to expand mineral resources and define mineralized structures at Orovalle and Ortosa-Godán; Orvana's ability to achieve improvement in free cash flow; the ability to maintain expected mining rates and expected throughput rates at El Valle Plant; the potential to extend the mine life of El Valle and Don Mario beyond their current life-of-mine estimates including specifically, but not limited to, Orvana's ability to optimize its assets to deliver shareholder value; estimates of future production (including without limitation, production guidance), operating costs and capital expenditures; mineral resource and reserve estimates; statements and information regarding future feasibility studies and their results; future transactions; future metal prices; the ability to achieve additional growth and geographic diversification; and future financial performance, including the ability to increase cash flow and profits; future financing requirements; mine development plans; the possibility of the conversion of inferred mineral resources to mineral reserves.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies, which includes, without limitation, as particularly set out in the notes accompanying the Company's most recently filed financial statements. The estimates and assumptions of the Company contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to the various assumptions set forth herein and in Orvana's most recently filed Management's Discussion & Analysis and Annual Information Form in respect of the Company's most recently completed fiscal year (the "Company Disclosures") or as otherwise expressly incorporated herein by reference as well as: timely completion of planned maintenance and ramp-up activities at the Orovalle mill and Carlés operation, there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at El Valle, Don Mario and Taguas being consistent with the Company's current expectations; political developments in any jurisdiction in which the Company operates being consistent with its current expectations; certain price assumptions for gold, copper and silver, which are subject to fluctuation and volatility beyond the Company's control;; prices for key supplies being approximately consistent with current levels; stable labour, energy supply, and logistics conditions in the jurisdictions where the Company operates; production and cost of sales forecasts meeting expectations; the accuracy of the Company's current mineral reserve and mineral resource estimates; labour and materials costs increasing on a basis consistent with Orvana's current expectations; and the availability of necessary funds to execute the Company's plan. Without limiting the generality of the foregoing, this news release also contains certain "forward-looking statements" within the meaning of applicable securities legislation, including, without limitation, references to the results of the Company's exploration activities, including but not limited to, drilling results and analyses, mineral resource estimation, conceptual mine plan and operations, internal rate of return, sensitivities, taxes, net present value, potential recoveries, design parameters, operating costs, capital costs, production data and economic potential; the timing and costs for production decisions; permitting timelines and requirements; exploration and planned exploration programs; and the Company's general objectives and strategies.

A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: delays or difficulties in obtaining or maintaining necessary permits, including tailings storage and environmental authorizations at Orovalle; the potential impact of global health and global economic conditions on the Company's business and operations, including: our ability to continue operations; and our ability to manage challenges presented by such conditions; the general economic, political and social impacts of  the continuing conflict between Russia and Ukraine, our ability to support the sustainability of our business including through the development of crisis management plans, increasing stock levels for key supplies, monitoring of guidance from the medical community, and engagement with local communities and authorities; fluctuations in the price of gold, silver and copper; the need to recalculate estimates of resources based on actual production experience; the failure to achieve production estimates; variations in the grade of ore mined; variations in the cost of operations, including increases in energy, power, and environmental compliance costs; the availability of qualified personnel; the Company's ability to obtain and maintain all necessary regulatory approvals and licenses; delays or difficulties in obtaining or maintaining necessary permits, including Orovalle's ability to complete the permitting process of the El Valle Tailings Storage Facility increasing the storage capacity, and obtaining environmental authorizations at Orovalle; Orovalle's ability to complete the stabilization project of the legacy open pit wall; the Company's ability to use cyanide in its mining operations; risks generally associated with mineral exploration and development, including the Company's ability to continue to operate the El Valle and/or ability to resume operations at the Carlés Mine; the Company's ability to successfully implement an acid leaching circuit and ancillary facilities to process the current oxides stockpiles at Don Mario; the Company's ability to successfully carry out development plans at Taguas; sufficient funding to carry out exploration and development plans at Taguas and to process the oxides stockpiles at Don Mario; EMIPA's ability to complete the placement of EMIPA Bonds II Issuance; EMIPA's ability to complete the required funding for the OSP; the Company's ability to acquire and develop mineral properties and to successfully integrate such acquisitions; the Company's ability to execute on its strategy; the Company's ability to obtain financing when required on terms that are acceptable to the Company; challenges to the Company's interests in its property and mineral rights; current, pending and proposed legislative or regulatory developments or changes in political, social or economic conditions in the countries in which the Company operates; general economic conditions worldwide; the challenges presented by global health conditions; fluctuating operational costs such as, but not limited to, power supply costs; current and future environmental matters; and the risks identified in the Company's disclosures. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Disclosures for a description of additional risk factors. Additional risk factors are described in the Company's most recent Management's Discussion and Analysis and Annual Information Form, available under the Company's profile at www.sedarplus.ca.

Any forward-looking statements made herein with respect to the anticipated development and exploration of the Company's mineral projects, and the timing and results of processing stockpiled material scheduled for FY2026, including variations in ore grade, recoveries, or throughput that could affect realized production,  are intended to provide an overview of management's expectations with respect to certain future activities of the Company and may not be appropriate for other purposes. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements made in this information are intended to provide an overview of management's expectations with respect to certain future operating activities of the Company and may not be appropriate for other purposes.

SOURCE Orvana Minerals Corp.

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NEW YORK--(BUSINESS WIRE)--Labaton Keller Sucharow LLP (“Labaton”) has filed a securities class action lawsuit (the “Action”) on behalf of its client the Electrical Workers Pension Fund, Local 103, I.B.E.W. (“Local 103”) against Baxter International, Inc. (“Baxter” or the “Company”) (NYSE: BAX) and certain of its executives (collectively, “Defendants”). The Action, which is captioned Electrical Workers Pension Fund, Local 103, I.B.E.W. v. Baxter International, Inc., No. 25-cv-12672 (N.D. Ill.),.

Image Credits:Lilium

5:19 PM PDT · October 16, 2025

Electric aircraft startup Lilium may have ceased operations a year ago, but its insolvency filing wasn’t quite the end of the German-based company.

There were multiple failed attempts to restructure the company, including a last-ditch effort by Mobile Uplift Corporation, a company set up by investors from Europe and North America, to acquire the operating assets of the startup’s two subsidiaries. Ultimately, a bankruptcy administrator put the company’s assets through a competitive bid process.

Now, some of its tech will live on over at Archer Aviation, which beat out Ambitious Air Mobility Group and U.S. based Joby Aviation with the winning bid of €18 million ($21 million) for all 300 of Lilium’s patent assets. Joby Aviation confirmed it participated in the bid.

Lilium, which was founded in 2015, was developing a vertical take-off and landing aircraft with speeds of up to 100 km/h. The company raised more than $1 billion from investors before going public in 2021 on the Nasdaq Exchange via a reverse merger with a blank-check company, SPAC Qell. While it managed to land high-profile investors like Tencent and lock in customers, including an order for 100 electric jets from Saudi Arabia, it burned through cash long before it could deliver a product.

An Archer spokesperson said the patents span critical eVTOL (electric vertical takeoff and landing) technologies, including high-voltage systems, flight controls, ducted fans, and advanced aircraft design. The new patents represent a “strong addition” to Archer’s growing IP portfolio, which now totals more than 1,000 global patent assets, the spokesperson noted in an email.

What Archer plans to do with those patents isn’t totally clear, although there are hints. Lilium’s electric ducted fans would be a good application for light-sport or regional electric flight — which goes beyond Archer’s original mission.

Archer, which went public in 2021 via a merger with a special purpose acquisition company, initially focused on developing an air taxi network. It added a defense program in December, which included an exclusive deal with weapons manufacturer Anduril to jointly develop a hybrid gas-and-electric-powered VTOL aircraft for critical defense applications. 

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Kirsten Korosec is a reporter and editor who has covered the future of transportation from EVs and autonomous vehicles to urban air mobility and in-car tech for more than a decade. She is currently the transportation editor at TechCrunch and co-host of TechCrunch’s Equity podcast. She is also co-founder and co-host of the podcast, “The Autonocast.” She previously wrote for Fortune, The Verge, Bloomberg, MIT Technology Review and CBS Interactive.

You can contact or verify outreach from Kirsten by emailing [email protected] or via encrypted message at kkorosec.07 on Signal.

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Aaron covers what's exciting and new in the world of home entertainment and streaming TV. Previously, he wrote about entertainment for places like Rotten Tomatoes, Inverse, TheWrap and The Hollywood Reporter. Aaron is also an actor and stay-at-home dad, which means coffee is his friend.

Meta is discontinuing its desktop Messenger apps for Windows and Mac. As of Dec. 15, you'll need to head to Facebook to continue chatting through the app on your computer. 

Don't miss any of our unbiased tech content and lab-based reviews. Add CNET as a preferred Google source.

Once the sundowning process begins, users will receive an in-app notification. They will have a 60-day window to continue using Messenger before the app is permanently shut down. If you want to save chat history, Meta suggests activating secure storage before the app is gone forever. Otherwise, your chat history will be gone forever, as well.

The Messenger desktop app is no longer available on the Apple App Store. After Dec. 15, Meta users who try to access Messenger on desktop will be redirected to Facebook.com. Users without a Facebook account will be redirected to Messenger.com.

Laptops

Desktops & Monitors

Computer Accessories

Photography

Tablets & E-Readers

3D Printers

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.

Silver has reached a historic 45-year high, while Bitcoin and Ethereum experience notable declines. This reversal between traditional and digital assets highlights a potential rotation of capital toward tangible investments, sparking debates over whether Bitcoin's “digital gold” era is under threat.

Crypto traders have sounded the alarm on an expected Bitcoin (BTC) price correction as sideways trading enters the third day. Bitcoin price, which declined to $108k from an all-time high above $125k, has faced short-term resistance following investors’ gradual pullback. The wider market also reacted similarly, with the 24-hour trading pattern of most altcoins showing flash dips.

Will Bitcoin Price Remain Defiant?
Expert trader Ali Martinez signaled the possibility of a BTC price crash to $96k if bulls miss the next short-term rally. In an X post, Martinez told the community that the asset must reclaim the $119k mark to keep the bullish momentum alive. Alternatively, pricing bands will signal a drop to $96k.

In practice, Bitcoin needs increased buyer strength from whales and retail markets to prevent a reversal. Traders are closely monitoring BTC support levels and the ability to hold key resistance in the short term. A slight break could mean sentiments shift from bullish to highly cautious, signaling a price drop. This is harmful to the gains recorded in the last three quarters as institutional inflows hit all-time highs. 

This year, the Bitcoin price has steadily increased with periodic metrics pointing upward. After the positive trend in the mainstream United States, institutional capital flowed to the asset and trickled to other altcoins. As a result, Bitcoin hit multiple all-time highs after attracting huge corporate treasuries. While bear sentiments persist, some traders point to these treasuries as key behind the asset’s stability.  

Per Bitwise data, corporate Bitcoin treasuries hold $117 billion in assets, marking a 40% increase in three months. The last quarter saw the number of firms holding assets surge to 172, with Michael Saylor’s Strategy still at the top. Among these firms, publicly listed firms picked up the most BTC, a 20.68% increase. Aside from Strategy, firms like Metaplanet and Galaxy also boosted purchases and rolled out new financing plans. 

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Bullish traders also cite the crypto derivatives markets as reasons to remain cautiously optimistic in the coming weeks. Meanwhile, CryptoQuant analysts noted that Bitcoin’s new investor supply increased since the last dip. For context, the number spiked from 1.6 million BTC to 1.87 million BTC within days.

“The rapid increase in STH supply signifies that the necessary market liquidity for future upward price movements is being replenished. The recent price dip was effectively utilized as a crucial buying opportunity by new market participants, establishing a new, robust demand floor that can absorb future minor sell-offs. Low-Profit Cost Basis Reduces Selling Pressure: This accumulation involves the distribution of older coins (likely from profit-taking Long-Term Holders or LTHs) being passed to these newer buyers,” they added.

Cardano’s Hydra protocol has achieved a landmark performance milestone, recording one million transactions per second (TPS) during recent testing. This throughput surpasses the combined processing capacity of Visa, Mastercard, and PayPal.

The development is a major leap in Cardano’s ongoing scalability roadmap, making Hydra one of the most powerful layer 2 blockchains.

According to a post by Cardanians.io, the Hydra Doom test demonstrated the protocol’s ability to process more transactions than leading global payment networks, with VisaNet itself peaking at roughly 65,000 TPS. The milestone highlights Cardano’s expanding technical capability to handle real-world, high-frequency transactions at unprecedented speeds.

Hydra is a layer 2 scaling protocol built on peer-reviewed research and designed to increase throughput and cost efficiency while maintaining Cardano’s hallmark security standards. 

Each “Hydra Head” functions as an off-chain ledger between participants, enabling faster and cheaper transactions without overloading the main blockchain. This design allows developers to deploy customized protocols and applications atop the Cardano network.

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The recent release of Hydra 1.0.0 officially transitions the project from testing to production readiness, making it suitable for live deployment. The update brings improved transaction speed, reduced fees, and enhanced flexibility for developers through partial deposits and refined API responses. 

The Hydra upgrade also integrates with Cardano node version 10.4.1 and Mithril version 2524.0, ensuring compatibility with the latest ecosystem infrastructure.

Despite minor ongoing challenges related to data fanout, developers say Hydra 1.0.0 lays the foundation for large-scale adoption. 

The update enables developers to build decentralized applications capable of real-time payments and high-speed operations without congestion.

Hydra’s evolution complements Cardano’s broader roadmap alongside Starstream, an upcoming privacy-focused framework leveraging zero-knowledge technology. The two systems are expected to merge high-speed performance with confidential smart contracts, supporting Cardano’s dual focus on scalability and privacy.

Bitcoin slipped below three-day Ichimoku cloud support on Wednesday, prompting market technician Dr Cat (@DoctorCatX) to flag the first decisive warning for bulls while outlining a tight sequence of conditional signals into month-end. Sharing a chart on X, he wrote: “Bulls finally lost the 3D kumo support which is the first clear red flag to look for.” He cautioned that the breakdown does not guarantee a straight-line slide, adding that “the kumo is very thick here which means the price can be very spiky/turbulent and even further down moves may be ‘bumpy’ for bears with bounces etc…”

Why Bitcoin’s Next Bull Window Opens October 31
The analyst framed the next tests through the lens of Ichimoku’s time-price structure and the weekly baseline. “Probably the clearest indication for now to watch for would be the time cycles and whether the weekly Kijun Sen will hold,” he said, specifying levels at $105.700 for the current week and “$109,559” for next week. In Ichimoku methodology, the weekly Kijun Sen functions as a mean-reversion axis; sustained closes below it typically confirm momentum deterioration, while defenses of the line can reassert trend control without requiring an immediate new high.

Bitcoin Ichimoku cloud analysis | Source: X @DoctorCatX
Dr Cat’s near-term line in the sand on daily closing conditions is clear: “If today closes above $113K we don’t have an indication for an immediate danger of a bearish continuation.” That threshold sits alongside his broader stance that separates time horizons. He reiterated that his “Long term = Bullish with the same targets I’ve shared many times,” but recast the shorter outlook as “Short to mid term = Neutral, range between ~$100K and prev ATH.”

Rather than declaring a hard bottom, he now views sentiment as a risk factor in its own right: “I said recently that the bottom should be put by the 13th of October — and even already in. But today after observing the sentiment I have strong concerns about red flags… I haven’t seen in a very long time so much mass bullish confidence and even arrogance across Twitter. So at this point I will simply not try to guess whether the bottom is in or not.”

He mapped out escalation points if downside resumes. “Short term bearish triggers would be a renew of the crash low briefly after the 13th of October, mid-term bearish trigger: the same but after the 19th, even better after the 26th of October.” In other words, a swift retest immediately after October 13 would raise short-term alarms, while fresh lows registered after October 19 or October 26 would strengthen the case that the corrective phase has more to run. He also downplayed the odds of a straight snapback, warning that “even if the bottom is in, a V-shaped recovery remains extremely unlikely.”

Against that caution, Dr Cat still identifies a specific window for bullish validation. Anchoring to Ichimoku’s Chikou Span alignment on the daily and three-day timeframes, he said “the earliest window of opportunity for a bull breakout above ATH is the 31st of October.” That timing caveat is critical: the October 31 marker is a first possible opening, not a guarantee, contingent on price stabilizing around or above the weekly Kijun and avoiding those date-based bearish triggers.

The shared chart underscores the nuance: price slipping beneath the three-day cloud is a mechanical negative, but the thickness of the cloud and proximity of higher-timeframe supports imply choppy discovery rather than a clean trend resolution before the end of the month.

Taken together, Dr Cat’s framework is binary but conditional. A daily close back above $113,000 would blunt “immediate” continuation risk and keep the weekly Kijun defenses in play at $105,700 this week and $109,559 next week. Failure to hold those rails — particularly if accompanied by renewed lows after the 19th or 26th — would harden the corrective bias and defer any credible breakout attempt.

As the calendar tightens, the market now has a clear checklist into October 31, when, per his model, the first “window of opportunity” opens for a move that could credibly threaten and surpass the previous all-time high.

At press time, Bitcoin stood at $111,479.

BTC stabilizes around 112,000, 1-day chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

A new leveraged ETF tied to XRP has just been filed by a major asset manager, adding fuel to an already bullish XRP price prediction as Wall Street deepens its crypto exposure.The firm behind the move is Volatility Shares, which already manages an XRP ETF offering 2X returns.

TLDR

Grant Cardone’s investment firm purchased an additional 200 BTC during the latest market downturn.
This purchase follows a previous acquisition of 300 BTC made just one week earlier.
Cardone uses cash flow from real estate investments to buy bitcoin over time gradually.
His strategy begins with 15 percent bitcoin exposure and aims to reach a 50 percent balance alongside real estate.
Cardone believes traditional saving loses value and sees Bitcoin as a long-term store of wealth.

Cardone Capital has purchased an additional 200 bitcoins during the market downturn, following a 300-BTC purchase just last week. The fund, led by Grant Cardone, continues to accumulate bitcoin amid growing concerns in the cryptocurrency space. Bitcoin now trades near $107,000 as Cardone expands digital asset exposure through a hybrid investment strategy.

Cardone Expands Holdings Despite Market Fears
Grant Cardone increased bitcoin holdings even as prices dropped and the Fear & Greed Index fell to 28/100. The recent 200-BTC purchase adds to last week’s 300-BTC acquisition, totaling 500 BTC bought in two weeks. Cardone demonstrates confidence, while many investors reduce their exposure due to market volatility.

Bitcoin recently hovered between $110,000 and $112,000 before retreating to the high $107,000s after hitting record highs. Technical indicators, such as the Advanced NVT Signal, suggest that Bitcoin may be undervalued compared to its network activity. However, general sentiment remains cautious, with traders showing little buying conviction.

https://x.com/GrantCardone/status/1978865282371203328

Cardone’s decision to buy during a downturn highlights a strategic approach that contrasts with short-term panic selling. He believes wealth creation favors bold moves when fear dominates the market. “Saving it doesn’t keep it because it’s going down in value,” Cardone said in an interview.

Cardone does not rely on Bitcoin alone but integrates it into a real estate-based investment model. His firm uses rental income from properties to purchase bitcoin, aiming for long-term growth over time. This strategy provides investors both steady cash flow and exposure to digital assets.

Cardone starts with 15% of fund capital in bitcoin and plans to increase that to 50% over time. The remaining share is allocated to institutional-grade real estate, offering diversification and stability. He said, “Basically, our renters are buying the investors in a building bitcoin.”

This method avoids the risk of full crypto exposure while building long-term value across both asset classes. Cardone’s model bridges traditional and digital finance, giving investors access without requiring technical expertise. Most of his clients have little prior experience with Bitcoin, but they gain passive exposure through real estate.

Bitcoin Seen as Path to Financial Freedom
Cardone views bitcoin not just as an asset, but as a movement toward financial independence and sovereignty. He sees inflation and economic instability as long-term threats to middle-class wealth. According to Cardone, “The moment you become comfortable, you’re probably at risk of having everything taken away.”

Cardone also focuses on making Bitcoin accessible to everyday investors who avoid complex crypto systems. By pairing bitcoin with tangible property investments, he introduces new participants to the digital economy. “I’m going to onboard people into Bitcoin that don’t know anything about Bitcoin,” he said.

Cardone’s approach reflects a broader cultural and financial shift as more investors seek alternatives to fiat-based savings. While the wider crypto market remains uncertain, Cardone’s consistent strategy emphasizes both income and long-term asset appreciation.

In brief
Newsmax is building a digital assets treasury centered on Bitcoin and President Trump's official Solana meme coin.
The company is approved to spend up to $5 million to acquire the assets over the next 12 months.
Shares of NMAX fell 4% today but have bounced in after-hours trading.
Publicly traded media company Newsmax is creating a digital assets treasury centered on Bitcoin and President Donald Trump's meme coin, which trades as TRUMP on Solana.

The company's board of directors approved the plan, which will see it acquire up to $5 million of the two assets in total over the next year, according to a company announcement on Thursday.

“​​Bitcoin is fast becoming the gold standard of cryptocurrency, and we believe it would be an important company marker to add this asset to our company reserves," Newsmax CEO Christopher Ruddy said in a statement.

"We are also excited to add Trump Coin to our cryptocurrency plan,” he added, “as we believe the coin's value should track the success of the Trump presidency, which so far has been impressive.”

Details about how the firm will fund the initiative were not revealed, but it expects to make the first strategic purchase “in the near future.”

Shares of Newsmax, which trade on the New York Stock Exchange with ticker NMAX, dropped around 4% today to $10.83 as broader markets slid amid increased macro volatility. However, shares are up more than 4% in after-hours trading, according to data from Yahoo Finance. 

Both Bitcoin and TRUMP dipped further on Thursday, with BTC falling 3% to $107,709 as the president’s official meme coin dropped 2.1%. The latter coin fell outside of the top 100 cryptocurrencies by market capitalization, according to data from CoinGecko. 

TRUMP is now changing hands at $5.90, nearly 92% off its January all-time high of $73.43. 

Newsmax joins the Trump-backed Trump Media as media companies with digital asset reserves plans. Earlier this year, Trump Media bought $2 billion worth of Bitcoin and related securities, placing it inside the top 10 largest publicly traded Bitcoin holders. 

If Newsmax used all $5 million of its approved funds to purchase BTC, it would only be able to obtain around 46 BTC, ranking it outside the top 100, according to BitcoinTreasuries.net. 

A representative for Newsmax did not immediately respond to Decrypt’s request for comment.

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

Ocean Fetch.ai AI Token dispute has intensified as Ocean has exited the ASI Alliance and formal arbitration has begun. Accusations over 286M FET conversions, Binance's deposit change, and price declines have unsettled governance and left holders seeking clarity.

Tether has donated $250,000 to Opensats, a non-profit that funds open-source Bitcoin and freedom technology projects. The contribution supports Opensats' mission to empower developers, researchers, and educators building on Bitcoin.

TLDR

Bitcoin miners have transferred 51,000 BTC worth over $5.7 billion to Binance since October 9.
CryptoQuant data shows that over 14,000 BTC was moved by miners to Binance on October 11.
These transfers followed a major market crash that pushed Bitcoin’s price down to $104,000.
The movement of BTC suggests that miners may be shifting from holding to selling strategies.
Historical trends indicate that such miner sell-offs often lead to significant price corrections.

Bitcoin miners have transferred over 51,000 BTC, worth approximately $5.7 billion, to Binance since October 9, according to CryptoQuant. These large-scale movements suggest a possible shift in sentiment from holding to selling, based on historical patterns. If confirmed as sell-offs, such activity may trigger a significant drop in Bitcoin price in the near term.

Large BTC Transfers by Bitcoin Miners Signal Change
CryptoQuant reported that Bitcoin miners transferred over 14,000 BTC to Binance on October 11. This marked the most significant miner movement since July, coinciding with a broader market downturn. These movements occurred immediately after Bitcoin’s price sharply fell to $104,000, resulting in major liquidations.

https://x.com/cryptoquant_com/status/1978788572372041883

The market crash wiped out nearly $20 billion in leveraged positions, creating a ripple across the industry. In response, Bitcoin miners began shifting funds from storage wallets to exchanges. This shift suggests a shift in strategy, likely toward liquidation or hedging.

“These transactions suggest miners are preparing to sell or hedge their holdings,” CryptoQuant explained in a Thursday update. Moving Bitcoin to centralized exchanges like Binance often indicates readiness to trade. Historically, such actions by Bitcoin miners have preceded price corrections in the market.

Potential Impact of Miner Sell-Offs on Bitcoin Price
The shift from holding to selling usually puts downward pressure on Bitcoin’s price. If Bitcoin miners sell large volumes, it may drive short-term bearish momentum. However, increased institutional demand could absorb the supply and prevent a price drop.

CryptoQuant noted that the intentions behind these transfers are not confirmed. Bitcoin miners might be using their holdings as collateral or for operational needs. Nonetheless, the scale and timing raise concerns among traders and analysts.

Bitcoin has experienced such miner-driven sell-offs before, often followed by steep corrections. If similar patterns persist, Bitcoin could experience further downward movement. Thus, current miner behavior remains a crucial indicator for future price action.

Whale Activity and ETF Inflows Offset Miner Pressure
Despite the large-scale transfers, whales continue to buy Bitcoin during the price dip. A new wallet purchased $110.6 million worth of BTC from Binance earlier today. Another wallet acquired 465 BTC, worth $51.4 million, from FalconX.

These acquisitions demonstrate strong buying interest, especially during times of uncertainty. Furthermore, U.S. spot Bitcoin ETFs recorded fresh inflows, suggesting continued institutional accumulation. This trend could help stabilize prices even as Bitcoin miners move their assets.

If this demand persists, it may counterbalance the selling pressure from miners. This interaction between supply and demand will determine Bitcoin’s short-term direction. Therefore, market participants continue to closely monitor both sides of this dynamic.

TLDR

Bitpanda has partnered with Brazil’s Ondo Finance to expand its digital asset services into Latin America.
The partnership will allow Ondo to offer secure crypto trading, custody, and liquidity services using Bitpanda’s infrastructure.
Bitpanda’s API-based architecture will enable seamless integration of digital asset features into Ondo’s platform.
The collaboration follows a Bring Your Own License model, ensuring compliance with local Brazilian regulations.
Ondo will begin offering stablecoins and major cryptocurrencies, with advanced features to be added as demand increases.

Bitpanda has entered the Latin American market through a strategic partnership with Brazilian platform Ondo Finance. This collaboration aims to offer secure crypto services for wealth and corporate clients in Brazil. Bitpanda will provide its full API-based infrastructure, including trading, custody, and liquidity support.

Bitpanda Strengthens Crypto Access in Brazil
Latin America continues to experience increasing demand for compliant digital asset services. However, local financial institutions often face poor infrastructure and regulatory inconsistency. Bitpanda addresses this challenge through a modular and adaptable crypto framework.

The partnership enables Ondo Finance to offer clients a seamless and secure cryptocurrency experience that adheres to international compliance standards. Bitpanda’s infrastructure will support this offering with deep liquidity and institutional-grade custody. Ondo will utilize Bitpanda’s API-first architecture to integrate crypto services seamlessly within its native platform.

This move aligns with the Bring Your Own License (BYOL) model, enabling Ondo to operate in accordance with local laws and guidelines. Bitpanda ensures that its services remain adaptable to Brazil’s evolving crypto regulatory environment. The approach provides a flexible framework that does not compromise security or efficiency.

Ondo Leverages Bitpanda for Crypto Growth
Bitpanda’s CEO, Lukas Enzersdorfer-Konrad, stated, “Latin America is ready for regulated and secure digital asset services that promote growth.” He emphasized the importance of compliance-driven innovation in unlocking long-term value for institutions. Bitpanda aims to support partners while maintaining global operational standards.

Ondo Finance’s CEO, Nildson Alves, said, “Partnering with Bitpanda lets us build secure crypto services tailored for our market’s needs.” He noted that the collaboration brings Ondo access to Bitpanda’s extensive infrastructure expertise. Together, both firms aim to deliver confidence and long-term utility to Brazilian clients.

This collaboration strengthens Bitpanda’s position as a reliable infrastructure provider for regulated digital asset access worldwide. Bitpanda brings its experience powering services for over 30 million global users. The company adapts its technology to meet local market needs while staying fully compliant.

The partnership provides Ondo Finance with a comprehensive suite of digital asset tools, including custody and trading capabilities. Bitpanda manages liquidity and USD or stablecoin settlement across the platform. The rollout will start with major cryptoassets, including stablecoins and leading cryptocurrencies.

Additional features, such as staking, swaps, and savings plans, will be made available as client demand increases. Ondo gains a customizable platform that adjusts with market needs. Bitpanda’s modular infrastructure supports scalability and high-performance delivery.

Decentralized physical infrastructure (DePIN) protocol peaq has signed a memorandum of understanding with Dubai’s Virtual Assets Regulatory Authority (VARA) to develop a regulatory framework for onchain robotics and tokenized machines.

According to a Thursday press release, the memorandum centers on peaq’s Machine Economy Free Zone, with additional areas of collaboration including guidance for projects seeking VARA licenses, joint training initiatives in technology and compliance, and data sharing to support research and regulation.

Launched in July, the Machine Economy Free Zone is a controlled environment to test how robotics and AI can function within decentralized networks.

Peaq co-founder Max Thake said that the agreement “represents an important commitment from both parties to bring the Machine Economy to life in a compliant way and enable people to participate, build and benefit from an entirely new economic sector.”

Humans and machines on peaq. Source: peaq.xyzPeaq is a layer-1 blockchain for the machine economy, a network where connected devices and robots can own assets, share data and earn income. It underpins DePIN and tokenized real-world assets.

VARA is Dubai’s regulatory agency for cryptocurrencies and digital assets. Established in 2022, it oversees licensing, compliance, and policy for virtual asset businesses across the emirate.

The announcement came about a week after VARA formed a strategic partnership with DMCC, Dubai’s government-backed commodities and business free zone, to develop a regulatory framework for tokenized commodities.

VARA CEO Matthew White said the agency aims “to position Dubai as the global benchmark for the safe and sustainable growth of this next generation asset class.”

Dubai and the UAE’s crypto pushSince its formation in March 2022 to oversee crypto and Web3 regulation, VARA has helped transform Dubai, and the wider United Arab Emirates, into one of the world’s leading digital assets and blockchain innovation hubs.

On May 19, VARA updated its rulebook for virtual asset service providers (VASPs) operating in the country, clarifying RWA issuance and distribution. With the new rules, people can issue RWAs and list them on secondary markets, according to United Arab Emirates-based law firm NeosLegal.

In August, VARA and the UAE’s Securities and Commodities Authority (SCA) formed a strategic partnership to sync their approach to regulating digital assets. Under the agreement, Dubai-based licenses will apply to the entire UAE.

On Sept. 22, the UAE signed the Multilateral Competent Authority Agreement under the Crypto-Asset Reporting Framework (CARF) to establish automatic tax information sharing on crypto assets between member countries. The Ministry of Finance said the framework will take effect in 2027, with the first data exchanges set for 2028.

Dubai and the UAE’s approach to digital assets has, unsurprisingly, attracted a migration of high-net-worth crypto investors. The UAE has become the leading destination for migrating millionaires, with around 9,800 expected to relocate there in 2025.

Chase Ergen, board member at crypto investment firm DeFi Technologies, predicts the crypto sector will grow into the UAE’s second-largest industry within five years.

Magazine: Crypto City: Guide to Dubai

On October 16, Ripple, a key player in digital asset infrastructure, revealed its strategic acquisition of GTreasury, a prominent name in treasury management systems, for a substantial $1 billion. This move signifies Ripple's ambitious entry into the corporate treasury domain, aiming to integrate blockchain technologies with traditional financial operations.

Bitcoin plunged below $108,000 today, continuing a brutal week for crypto markets that refuse to find a floor. By noon, the token had collapsed from $111,000 to under $109,000 as traders dumped positions amid relentless pressure.

TL;DR

Tether nominated Zachary Lyons and Francesco Garino to the board of Juventus after holding a 10.7% stake in the Italian club.
The company aims to influence the club’s governance, proposing bylaw changes and greater minority representation. The vote is scheduled for November 7.
Tether combines this strategy with investments in BTC, Rumble, and Northern Data.

Tether nominated two executives to the board of the Italian club Juventus, eight months after its initial investment, deepening its involvement in the club’s management.

Tether Holds a 10.7% Stake in Juventus
The company presented Zachary Lyons, its deputy chief investment officer, and Francesco Garino, an orthodontist and Juventus fan, as candidates for the board. Tether holds a 10.7% stake in the club following investments made in February and April.

The nomination reflects the company’s intention to influence the club’s governance, proposing bylaw changes and promoting advanced corporate practices, including greater minority representation. The elections will be decided at the shareholder meeting scheduled for November 7.

Corruption Scandals
The club has faced several scandals. In November 2022, all board members resigned amid alleged financial fraud related to player salaries. In September, former president Andrea Agnelli and two other executives accepted plea deals with suspended sentences.

Tether has also made substantial investments in other companies. It holds 100,000 BTC, valued at over $11 billion, and invested $775 million in the video platform Rumble. In August, together with Rumble, it proposed a joint acquisition of Northern Data, an artificial intelligence infrastructure company, for $1.17 billion.

New Practices and Greater Professionalism
Paolo Ardoino, Tether’s CEO, emphasized the importance of this proposal to strengthen ties with fans and align the club’s governance with international corporate practices. The company aims to use its position to influence strategic decisions and adopt stronger management models within the club.

For now, it remains to be seen how events unfold and whether the firm behind the USDT stablecoin, the largest by market capitalization, manages to enter the top management of the Vecchia Signora and implement structural changes from within the institution

Cryptocurrency exchange Coinbase has added Binance’s BNB token to its roadmap for listings amid a series of online exchanges discussing the process.

On Tuesday, Limitless Labs CEO CJ Hetherington posted to X, contrasting what he claimed were the requirements for a token to be listed on Binance rather than Coinbase. According to the CEO, Binance’s requirements included a security deposit of 2 million BNB (BNB) for a spot listing, while Coinbase’s were limited to “build[ing] something meaningful on Base.”

The online exchange sparked debate, which only seemed to intensify when Coinbase’s head of Base, Jesse Pollak, chimed in to say “it should cost 0% to be listed on an exchange.” 

Binance initially responded to Hetherington with a since-deleted X post, threatening legal action against the CEO and calling some of his claims “false and defamatory.” The exchange claimed that it did not accept fees for listing tokens.

“While we stand by our position, the way we communicated was excessive and we sincerely apologize to our users, partners, and the wider industry,” said Binance in a follow-up to the deleted post on Wednesday.

Whether influenced by the social media debate or not, Coinbase followed by adding BNB to its roadmap on Wednesday, indicating that it was planning to list the token. Former Binance CEO Changpeng “CZ” Zhao praised the move but also later urged Coinbase to “list more BNB Chain projects.”

Source: Changpeng ZhaoCZ is Binance’s largest shareholder but no longer in a managing or operational role following a deal with US authorities that had him step down as CEO in 2023. However, he still reportedly controlled 64% of the circulating supply of BNB at about 94 million tokens as of June 2024.

Increasing transparency for exchanges’ listingsCrypto traders know the value that having any token listed on a top-tier exchange can have in causing the price to surge immediately following the news or slowly through greater adoption. Both Coinbase and Binance have taken steps to implement new changes to the token listing process as the number of cryptocurrencies increases.

In March, Binance launched a community co-governance structure, allowing users to vote to list or delist tokens. The announcement came a few weeks after CZ posted on X, claiming the exchange’s process was “a bit broken” due to the time between announcing a new token and listing it.

Coinbase CEO Brian Armstrong made similar remarks in January, saying the company needed to rethink its listing process, given there were about “1 million tokens a week being created now, and growing.” The exchange released a guide in September saying every token application was “free and merit-based,” and included a business evaluation and legal review.

As of Thursday, BNB was the third-largest cryptocurrency with a market capitalization of about $160 billion. According to data from Nansen, the BNB price was $1,149 at the time of publication.

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

The second day of the Aptos Experience 2025 conference in New York felt less like a blockchain rally and more like a reckoning — a day when builders, investors, and researchers stopped talking about what could be built, and began to talk, candidly, about what should last.

From the grand stage at Pier 36, the energy was noticeably more deliberate. Gone were the early crypto conference theatrics — the loud claims, the moon memes, the breathless talk of “next cycles.” What replaced them was quieter and far more consequential: a sense that the decentralized world was no longer waiting for validation. It was building, iterating, and — at last — reflecting.

Shelby, and the Infrastructure of Permanence

The morning opened with the Shelby Grand Showcase, a technical deep dive that played more like a masterclass in institutional design. Kevin Bowers, Chief Scientist at Jump Crypto, spoke of “systems that last,” framing infrastructure as something closer to public architecture than code.

“The measure of innovation isn’t speed,” he said. “It’s whether your system still works when nobody’s looking.”

From Austin Federa of DoubleZero came a case study in data gravity — how Shelby’s backbone, powered by decentralized computation, is designed not for scale alone, but for stability under pressure.

Greg Reed of NBCUniversal, who joined later for a fireside chat, gave the day one of its most memorable lines: “Culture will not migrate to Web3 just because the rails are better. It will move when stories move.”

In that moment, it became clear: Shelby wasn’t just another protocol. It was a symbol — of crypto’s search for endurance in a world of disappearing attention.

“Nobody Asked for That” — The Return of the User

By midday, the tone shifted from builders to users. The panel “Nobody Asked for That: What Users Actually Want” hit a nerve with founders and product managers who have grown weary of feature-first thinking.

Parth Chadha (STAN) cut through the noise: “We don’t have a product problem. We have an empathy problem.”

Kara Miley (Serotonin) expanded the point, describing how too many teams mistake tokenomics for retention. “Your user doesn’t care about your yield curve,” she said. “They care about whether they belong in your world.”

It was the day’s recurring theme — technology as infrastructure for emotion, not replacement for it. The best products, speakers agreed, are not those that innovate most visibly, but those that quietly restore trust.

USD1 and the Logic of Liquidity

When Ash Pampati (Aptos Foundation) sat down with Justin Kugel (WLFI) for an afternoon fireside chat, the conversation took a pragmatic turn: the politics and mechanics of money on-chain.

Ash described USD1, Aptos’s rapidly expanding stablecoin, as “high-velocity money” — designed less for yield farming and more for sustained transactional utility. “Sticky users matter more than spiky numbers,” he said.

He spoke with the calm conviction of a central banker. “We’re not here to print incentives,” he added. “We’re here to print confidence.”

That single phrase — print confidence — summed up the entire subtext of the conference: crypto’s most enduring projects are no longer the ones shouting the loudest, but the ones building quietly under regulatory light, treating compliance not as compromise but as architecture.

Investors in Reflection — “Where’s the Alpha?”

By mid-afternoon, the mainstage filled for one of the most anticipated sessions: “Where’s the Alpha? Inside the Minds of Top Crypto Investors.”

The panel — Diego Perez de Ayala (Frictionless Capital), Diogo Mónica (Haun Ventures), Tom Schmidt (Dragonfly), and Kevin Kelly (Delphi Digital) — delivered the kind of sober clarity that only comes after years of volatility.

“The real alpha,” one said, “is surviving long enough to compound wisdom.”

They spoke of cycles not as trading seasons but as human experiences — times to learn patience, to rediscover fundamentals. The message was clear: liquidity may dry up, but conviction compounds.

As the panel turned to exit strategies, talk of IPOs, M&A, and equity-based funding filled the air. The token, once treated as the only exit, was now just one of several paths. The industry’s adolescence was ending; governance, regulation, and long-term capital were stepping in.

Tokens, IPOs, and the New Public

The final mainstage session, “Tokens, IPOs, and Tier 1s,” brought the day full circle. Baek Kim (Hashed), Claire Zhao (Hyperion), and Ryan David Williams (Ashbury Legal) explored what it really means to “go public” in 2025.

For Zhao, whose company launched its token on Binance Alpha earlier this year, the on-chain debut was less an exit than a beginning. “Going public,” she said, “means going on-chain.”

She spoke of economic alignment — traders in Seoul, developers in Lisbon, and users across the globe bound by a single programmable incentive system. “It’s a beautiful chaos,” she smiled, “but it’s the future of public ownership.”

Williams, the lawyer on stage, grounded the optimism in legal realism. “There’s no one-size-fits-all structure,” he said. “The right path depends on how — and where — value truly accrues.”

And Baek Kim, closing the discussion, offered the most human observation of the day: “In crypto, capital grows exponentially. People don’t. Founders have to catch up to their own valuation.”

It drew knowing laughter — and quiet nods.

A Day That Felt Like a Turning Point

By sunset, as the crowd spilled out onto the East River, the feeling was unmistakable. Aptos Experience had outgrown its own name. This wasn’t just an “experience” anymore — it was a declaration of intent.

Crypto’s builders are no longer rebels at the gate. They are architects of a new financial order — one defined not by speculation, but by persistence, precision, and, above all, accountability.

If Day 1 was about ambition, Day 2 was about adulthood. And as one veteran investor murmured on the way out:

“For the first time in a long time, it feels like we’re not chasing the future. We’re finally building it.”

The Ethereum Foundation has deposited 2,400 ETH and $6 million in stablecoins into Morpho's yield-bearing vaults, reinforcing its long-term support for open-source, permissionless DeFi infrastructure.