Market Signal Briefing

TLDR

BlackRock sold over $28 million worth of Bitcoin during a sharp decline in the crypto market.
The firm bought more than $45 million in Ethereum shortly after selling its Bitcoin holdings.
BlackRock’s iShares Bitcoin Trust recorded a $29.46 million outflow in a single day.
The iShares Ethereum Trust saw a $46.9 million inflow which was the highest among all Ethereum ETFs.
Grayscale and Fidelity funds reported outflows while BlackRock was the only major issuer with ETH inflows.

BlackRock sold a significant amount of Bitcoin (BTC) and increased its Ethereum holdings amid a sharp market downturn. The move involved liquidating over $28 million worth of Bitcoin and purchasing more than $45 million in Ethereum. Market volatility triggered this change, as institutional investors reacted swiftly to shifting dynamics.

BlackRock Reduces Bitcoin Exposure During High Volatility
BlackRock deposited 272.4 BTC, valued at $28.36 million, into Coinbase Prime just five hours ago. This action indicated an apparent reduction in the firm’s Bitcoin exposure amid heavy liquidations. The crypto market faced over $1 billion in forced shutdowns within 24 hours, increasing pressure on traders.

Bitcoin alone accounted for $369 million in total liquidations, highlighting the market’s fragile position. Consequently, the iShares Bitcoin Trust (IBIT) reported a $29.46 million outflow in a single day. Other U.S. Bitcoin ETFs also recorded a combined $536.44 million outflow, confirming the sector-wide trend.

Although other funds showed weakness, BlackRock’s actions stood out due to its influence and timing. The shift echoed a similar move made last month, but in the opposite direction. Then, BlackRock had exited Ethereum to accumulate more Bitcoin, showing an ongoing strategy shift.

After selling Bitcoin, BlackRock withdrew 12,098 ETH from Coinbase Prime, valued at approximately $45.47 million. The iShares Ethereum Trust (ETHA) experienced a net inflow of $46.9 million, surpassing all other U.S. Ethereum ETFs. This indicates institutional interest in Ethereum, despite overall crypto sentiment remaining weak.

While Grayscale and Fidelity funds experienced outflows, BlackRock recorded the only inflow of ETH among major institutions. This divergence suggests a reallocation strategy favoring Ethereum amid broader asset rebalancing. It also hints at potential confidence in Ethereum’s medium-term prospects.

Despite Ethereum contributing $262 million to the total liquidations, sentiment is stabilizing. CryptoQuant noted that ETH open interest is decreasing, which often signals a reduction in speculative trading. Analysts view this as a possible sign of consolidation and a less volatile phase.

Market Conditions Favor Ethereum Setup for a Possible Rebound
Arthur Hayes, co-founder of BitMEX, called the Bitcoin dip a buying opportunity following its drop to a four-month low. However, focus shifted toward Ethereum, with traders eyeing possible bullish setups. Fundstrat’s Tom Lee described the ETH setup as “very constructive,” reflecting growing optimism.

Most leveraged ETH positions are now short, increasing chances of a short squeeze and a sharp price rebound. ETH traded around $3,800 after a 13% weekly decline, indicating strong resilience. BlackRock’s move aligns with these developments and could influence broader investor sentiment.

According to a leading on-chain analytics firm, Santiment, Chainlink (LINK) has reaffirmed its dominance in decentralized finance (DeFi) development, widening its lead over competitors.

Source: Santiment
In the past 30 days, Chainlink posted a development activity score of 491.67, more than double that of its closest rival, DeepBook Protocol (214.6), while DeFiChain trailed in third with 156.3.

The data highlights Chainlink’s sustained innovation and its strengthening position as DeFi’s top oracle network.

Santiment’s development activity metric measures the frequency of code commits, upgrades, and improvements across public GitHub repositories, serving as a strong indicator of a project’s long-term potential. 

Notably, sustained development signals active innovation and solid developer confidence in the network’s future.

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Chainlink’s continued dominance underscores its vital role at the heart of decentralized finance. Its oracle network powers hundreds of protocols across Ethereum, Polygon, Arbitrum, and more, securely connecting real-world data to smart contracts. 

Over the past year, Chainlink has expanded its influence with the Cross-Chain Interoperability Protocol (CCIP), enabling seamless blockchain-to-blockchain communication, and Data Streams, a high-speed data delivery solution driving next-generation DeFi applications.

Chainlink Revisits Key Support Channel After Strong Rally
According to renowned market analyst Lingrid, Chainlink (LINK) is revisiting its ascending support channel after a measured pullback from the $26.00 region. 

Source: Lingrid
Following a robust rally that shattered multiple resistance levels, LINK now consolidates near key support, potentially building momentum for its next decisive breakout.

Lingrid noted that Chainlink recently formed distinct impulsive structures, breaking multiple triangle patterns that had constrained price action for weeks. 

This breakout confirmed robust bullish momentum, fueled by rising on-chain activity and increasing developer participation. Chainlink’s growing influence in DeFi infrastructure and real-world asset tokenization continues to draw strong institutional and retail interest.

At the time of this writing, Chainlink was trading at $16.48 per CoinGecko data.

Li Lin, the founder of crypto exchange Huobi, has set his sights on a $1 billion ETH treasury, a move that could make the initiative one of the largest accumulators of the cryptocurrency.

Summary

Huobi founder Li Lin plans to scoop $1 billion of Ether for digital asset treasury.
Lin’s Avenir Group is among Asia’s biggest spot Bitcoin exchange-traded funds holder.
Ethereum continues to attract public companies eyeing ETH as a treasury bet.

Lin, who is also the chairman of Avenir Capital, a Hong Kong–based investment group focused on bridging traditional finance and digital assets, plans to launch a new Ethereum trust in collaboration with several prominent investors in Asia.

According to Bloomberg, Lin’s family office seeks to join forces with Fenbushi Capital co-founder Shen Bo, HashKey Group chief executive officer Xiao Feng, and Meitu founder Cai Wensheng. Together, the group of investors have formed a digital asset trust that will pursue an aggressive Ethereum (ETH) accumulation strategy.

The fund has reportedly netted $1 billion in commitments.

Li Lin is committing $200 million through his Avenir Capital. Meanwhile, multiple Asian institutional investors are reportedly ready to bet $500 million on this venture. HongShan Capital Group is among the top firms eyeing a foray into a venture that would count as one of the largest private accumulations of the world’s top altcoin.

ETH spot ETFs
Avenir Group is one of the top players when it comes to crypto spot exchange-traded funds in Asia. Indeed, since 2024, the Huobi co-founder’s firm has grown its spot Bitcoin (BTC) ETFs aggressively and ranks as one of the largest institutional holder of the asset. U.S. spot Bitcoin ETFs went live in early 2024 after the Securities and Exchange Commission’s nod. 

Asia’s first spot BTC and ETH ETFs launched in April 2024, with the assets’ debut in Hong Kong coming amid an unprecedented issuance by three Chinese firms. The ETFs, which trade on the Hong Kong Stock Exchange, were issued by China Asset Management, Bosera Asset Management, and Harvest Global Investments.

SEC gave a greenlight to several spot Ethereum ETFs to start trading in July 2024.

Biggest ETH treasury companies
The inflows into spot crypto ETFs jumped in 2025, with Ethereum at one point outpacing Bitcoin amid a rapid increase in publicly-traded companies that launched ETH treasury strategies. 

According to CoinGecko data, there are currently 14 public companies holding over $16.9 billion in ETH as part of their treasury bets. With over 3 million ETH worth more than $11 billion, BitMine is the world’s largest corporate holder of Ethereum.

Others in the race to accumulate the altcoin are SharpLink, Bit Digital and ETHZilla.

Cardano (ADA) is showing signs of a bullish revival as buying pressure intensifies across the charts. 

Market analyst Emilio Bojan notes, “ADA momentum is back, and buyers are pushing hard,” suggesting the token may be gearing up for a new uptrend after weeks of consolidation.

ADA’s resurgence is gaining traction as trading volume rises and technical indicators strengthen. Holding firm above key support levels, ADA is forming higher lows, a classic sign of accumulation by confident traders.

According to Bojan, this trend reflects renewed investor confidence in Cardano’s fundamentals and its potential to outperform in the next phase of the altcoin cycle.

At the time of this writing, ADA was trading at $0.62, slightly below the psychological price of $0.70.

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Meanwhile, a decisive break above the $0.90 resistance could fuel a surge toward $1.10, reigniting bullish momentum and restoring confidence in the ADA ecosystem.

Charles Hoskinson Says Forget ‘Ethereum Killers’ 
Cardano founder Charles Hoskinson says the crypto market is moving past the outdated “Ethereum killer” narrative. 

In a recent interview, he noted that the next altcoin season will be led not by rivals trying to outpace Ethereum, but by projects pioneering new frontiers, especially in blockchain privacy.

Hoskinson acknowledged that the ‘Ethereum killer’ narrative belongs to the past because this cycle will reward projects tackling real challenges, such as privacy, scalability, and interoperability.

As a result, he highlighted Midnight, Cardano’s privacy-focused blockchain, as a clear indicator of the industry’s new direction.

Midnight, developed on Cardano’s ecosystem, delivers zero-knowledge privacy with built-in compliance tools for businesses and regulators. 

Unlike traditional privacy coins like Monero or Zcash, often criticized for their opacity, Midnight strikes a balance between confidentiality and accountability, empowering developers to build decentralized apps that safeguard user data while maintaining regulatory transparency.

As a result, Hoskinson envisions a paradigm shift in the altcoin market, where innovation, not imitation, drives success. He believes the next cycle will reward projects solving real problems, with privacy-focused ecosystems poised to anchor the coming crypto rally.

New debt-fueled era for Bitcoin miners marked by 1 zetahash milestone – Report Liam 'Akiba' Wright · 54 seconds ago · 5 min read

Record difficulty and $0.06 power costs collide with a $90 billion debt-driven boom, testing whether miners’ AI pivots can outlast hashprice compression.

Oct. 17, 2025 at 8:00 pm UTC

5 min read

Updated: Oct. 17, 2025 at 3:51 pm UTC

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin mining crossed the zetahash threshold in September as the network averaged 1.034 ZH/s, and hashprice fell below $47 per PH per second.

According to a new report by The MinerMag, the step up in difficulty coincided with miners’ equity values nearly doubling since August to about $90 billion by October 15, while BTC fell 3.7 percent over the same period.

The sector’s center of gravity has shifted toward balance sheet capacity, convertible debt, and high-performance computing contracts. Record difficulty has squeezed operating margins, and power costs have remained pinned near fixed-rate agreements.

According to the report, listed operators’ combined market capitalization climbed from roughly $41 billion in August to $58 billion in September and then to $90 billion by mid-October, even as hashprice revisited levels last seen in May.

PeriodCombined Market CapNotesAugust$41BStart of rally windowSeptember$58BContinued outperformance vs. BTCOctober 15$90BMore than doubled since August; BTC −3.7% in same periodThe repricing tracks a narrative of digital-infrastructure exposure, where miners present contracted power, data-center buildouts, and AI colocation as incremental earnings streams that are less tethered to block rewards.

The MinerMag’s performance panel shows that leaders over the past month included Bitfarms, up 162 percent, Canaan, up 149 percent, and CleanSpark, up 125 percent. MARA rose 39 percent, Riot 32 percent, and BTC down 3.7 percent in the same window.

The production league table has reshuffled as fleets scale.Per MinerMag’s September snapshot, MARA realized 53.3 EH/s, about 88 percent of deployed capacity, and mined 736 BTC, selling roughly half. Bitdeer increased its realized hashrate by one-third to 32.7 EH/s and moved into the fifth slot, while HIVE reached 19.3 EH/s and Cipher 18.2 EH/s as both pushed toward the 20 EH/s threshold that now informally defines the upper mid-tier.

These levels set the backdrop for consolidation, site swaps, and power-density upgrades as operators seek to qualify for hyperscale AI leases that require long-term, low-interruption power.

Financing is the other pillar of the new regime. Miners raised more than $1 billion in the second quarter through convertibles and close to $3 billion already in the third quarter, with issuers spanning Cipher, MARA, and TeraWulf. IREN closed $1 billion, TeraWulf outlined plans for $3.2 billion in senior secured notes, and Bitfarms proposed $300 million in convertibles.

The structure of this cycle differs from 2021’s ASIC- and infrastructure-secured loans that later impaired, since today’s zero-coupon convertibles push cash interest out of the near term and leave the equity conversion path open.

The trade-off is clear, if equity momentum moderates, maturities twenty-four to thirty-six months out move into focus and the sector confronts either dilution through cashless conversions or cash settlement against lower share prices.

The economics at the rig level anchor the discussion.Using The MinerMag’s base case with power at $0.06 per kWh, revenue runs near $0.054 per TH per day. Payback periods span roughly 458 days for S19XP+ Hyd to about 900 days for S23 Hyd across efficiency bands from 9.5 to 19 J/TH, reinforcing the gap between fleets on the latest-generation curve and those further back.

The report’s rule-of-thumb elasticities imply that a 10 percent change in revenue per TH per day moves payback by roughly 10 to 15 percent, because opex tied to joules per terahash dominates while near-term capex per TH is fixed.

That sensitivity makes difficulty and BTC path the primary variables, with a potential four percent difficulty relief flagged for the next adjustment likely to be brief.

Miner HardwareCapex per TH/sRevenue per TH/sRevenue per kWhOpex per TH/sPayback (Days)S23 Hyd (9.5 J/TH)$30$0.054$0.237$13.68900S21XP Imm. (13.5 J/TH)$18$0.054$0.167$19.44653S21+ Hydro (15 J/TH)$21.5$0.054$0.150$21.60846S21 Pro (15 J/TH)$16$0.054$0.150$21.60630S21 Imm. (16 J/TH)$15.5$0.054$0.141$23.04647S21+ (16.5 J/TH)$15$0.054$0.136$23.76645S19XP+ Hyd (19 J/TH)$9$0.054$0.118$27.36458Operationally, the zetahash regime raises the bar for power procurement, curtailment strategy, and efficiency upgrades.

Operators without sub-$0.05 per kWh power or without enough latest-generation joules per terahash face compressed margins until BTC reprices or sustained difficulty relief arrives.

The MinerMag’s scenarios outline three near-term paths from today’s base: if difficulty grinds higher and BTC stays flat, hashprice drifts 10 to 20 percent lower and paybacks extend by two to six months for common air-cooled fleets; if the flagged difficulty relief arrives with only a modest BTC bounce, a five to ten percent tailwind appears and fades; if BTC rerates while difficulty is flat, a 15 to 25 percent hashprice lift pulls lower-efficiency rigs back toward mid-cycle paybacks using the base table as anchor.

The equity story now hinges on execution in non-mining revenue.The MinerMag’s recent pipeline items include a Google-backed $3 billion AI hosting initiative tied to Cipher, expanded credit support for CleanSpark’s high-performance computing push, Galaxy’s $460 million Texas site build framed as an AI hub, and the Microsoft-aligned Nscale and Ionic Digital agreement pegged at $14 billion.

These targets, while large, require interconnects, transformers, and compute tenants to arrive on time, and disclosures to translate headlines into run-rate revenue. If ramp schedules slip, equity narratives built on data-center optionality converge back toward BTC beta.

Jurisdiction adds dispersion. The MinerMag cites new capacity in Norway and Bhutan under hydro-rich frameworks, and Laos exploring dam-linked mining finance, each of which shifts the global cost curve by moving incremental exahash into lower-cost buckets.

At the same time, idiosyncratic risks, from U.S. state litigation such as cases in Kentucky to investigations around individual European operators, translate into a wider distribution of multiples as investors price regulatory and legal variance by geography and corporate governance.

A simple runway lens ties the pieces together.Map the third-quarter and fourth-quarter convertible issuers to an eighteen- to thirty-six-month refi clock.

In an up tape, equity sits above conversion prices and cashless conversions retire debt while funding capex for new sites and higher-efficiency rigs.

In a down tape, companies either issue shares into weakness or reserve cash for settlement, curbing growth capex.

Both paths feed back into network difficulty, because capacity additions today raise baseline difficulty three to six months out, which in turn lowers hashprice unless BTC outpaces the expansion.

The MinerMag’s cycle description captures this reflexivity: equity up, deal window open, capacity up, difficulty up, each turn pressuring margins until BTC or fees absorb the difference.

For operators racing toward or past 20 EH/s, scale and power quality provide optionality, including load-balancing across mining and AI tenants, treasury strategies around BTC holdings and sales, and the latitude to pause or accelerate expansions as power markets move.

The MinerMag’s September table shows MARA selling about half of its monthly BTC output, a stance that adds operating cash while keeping some BTC beta. Others have leaned more fully into issuances, site-level debt, or colocation prepayments. The dispersion in choices will define who can sustain paybacks within the 500- to 700-day band if hashprice remains under the present baseline.

The numbers, and the financing mix behind them, leave the industry priced as infrastructure with crypto torque.

Hashrate has moved into a higher-pressure zone, equities have rerated on capacity and AI pipelines, and the debt stack has shifted toward convertibles with a clear refi window.

The MinerMag posits that the immediate catalyst is limited to a possible single-digit difficulty relief, with economics still anchored by $0.06 per kWh power and revenue near $0.054 per TH per day.

The near-term task for miners is converting announced data-center projects and balance-sheet firepower into steady non-mining revenue while absorbing the zetahash baseline.

Mentioned in this article

Latest Bitcoin Stories Press Releases

Journalist

Posted: October 18, 2025

Key Takeaways
Why is OpenSea pivoting away from NFTs?
OpenSea has crossed $2.6 billion in trading volume this month, with over 90% coming from token trading rather than NFTs.

What’s the $SEA token launch about?
OpenSea will launch its $SEA token in Q1 2026, and the token will power staking, governance, and its upcoming mobile app.

OpenSea is no longer just an NFT marketplace; it’s turning into a full-on-chain trading hub.

In a post on 17 October, Devin Finzer, OpenSea’s co-founder and CEO, announced the platform’s pivot to token trading.

He stated that the platform has crossed $2.6 billion in trading volume this month, with more than 90% coming from token trading. 

The milestone signals OpenSea’s transformation “from an NFT marketplace to a place to trade everything.”

The once-dominant NFT marketplace is reinventing itself as a multi-asset trading hub, expanding beyond digital collectibles into tokens, perps, and even physical assets.

The development could be the clearest sign yet that the NFT sector’s 2022 boom is long over.

A pivot born from necessity for OpenSea?
Finzer described the rebrand as “the sequel” to OpenSea’s 2021 NFT wave, but the timing tells its own story. 

NFT market data from CoinMarketCap shows a stagnant recovery, with total sector market capitalization hovering below $1 billion. This represents a significant decline from its 2022 highs of nearly $ 1 trillion.

Source: CoinMarketCap

While NFT volumes on Ethereum and Solana have shown short bursts of activity, the broader picture remains subdued. 

Projects like Azuki and BAYC have lost more than 80% of their peak floor prices. Even Blur, OpenSea’s top rival, has seen its volume slide since mid-year, according to DappRadar data.

That makes OpenSea’s pivot look less like an optional expansion and more like a strategic survival move.

$SEA token: A fresh start for a fading era
To fuel the next phase, OpenSea will launch its $SEA token in Q1 2026. At launch, 50% of the allocation will be dedicated to the community, with the remaining half of OpenSea’s revenue dedicated to buying back the token. 

Finzer says the token will “shine a spotlight on everything we’re building,” including staking, governance, and a mobile app now in closed alpha.

The move echoes a broader shift toward tokenized ecosystems in Web3, but also marks a turning point for OpenSea’s identity. 

From pioneering digital ownership to now pursuing cross-chain liquidity, the company appears to be establishing itself in crypto’s financial layer, rather than its cultural one.

Is the NFT boom truly over?
OpenSea’s rebrand could be seen as both an evolution and a retreat — an evolution into onchain finance, and a retreat from an industry that failed to sustain mass interest.

If the largest NFT marketplace is betting on fungible tokens for growth, it may signal what many in the space quietly admit: the NFT comeback everyone expected after 2021 might never arrive.

TLDR

OpenSea has shifted from an NFT marketplace to a multi-chain crypto trading aggregator.
The platform now allows trading of tokens, NFTs, and memecoins across 22 different blockchains.
OpenSea uses decentralized exchanges like Uniswap and Meteora to provide aggregated liquidity.
The company operates on a non-custodial model and does not require users to complete KYC checks.
It works with TRM Labs to monitor and flag sanctioned or suspicious wallet addresses.

OpenSea has transitioned from a leading NFT marketplace into a multi-chain crypto trading aggregator amid changing market conditions. The platform now supports trading of tokens, NFTs, and memecoins across 22 blockchains, marking a significant strategic shift. Monthly trading volume surged to $2.6 billion in October, with over 90% coming from tokens.

OpenSea expands beyond NFTs to full-spectrum crypto trading
OpenSea now enables users to trade various crypto assets beyond NFTs, including memecoins and tokens, across multiple chains. It aggregates liquidity from decentralized exchanges like Uniswap and Meteora to power seamless trading. The platform charges a 0.9% fee but never holds user funds.

The new structure uses a non-custodial model and eliminates traditional Know-Your-Customer (KYC) checks. OpenSea instead collaborates with TRM Labs to flag risky or sanctioned blockchain addresses. This approach supports privacy while enforcing basic compliance standards across supported assets.

Under CEO Devin Finzer’s leadership, OpenSea repositions itself for a broader crypto economy. “People want one place where every asset works,” Finzer posted on X, referring to unified trading functionality. He said the move follows growing demand for a single crypto trading platform.

NFT market crash forces platform reinvention
The NFT crash triggered major operational changes within OpenSea, including large-scale layoffs and a business model shift. The firm’s revenue collapsed from $125 million in January 2022 to $3 million by late 2023. Trading volumes dropped over 90% from 2021 peaks, heavily impacting OpenSea’s core business.

Prominent NFT collections like CryptoPunks and Bored Ape Yacht Club saw significant price declines during the downturn. This crash forced OpenSea to re-evaluate its focus, opting to build for a more dynamic crypto environment. Blur, a key rival, also experienced a 90% drop in activity.

In contrast, OpenSea reported $1.6 billion in crypto trades and $230 million in NFT volume during early October. This marked its strongest month in over three years and supported its new direction. The company now focuses on volume from tokens rather than speculative digital art.

New features and long-term roadmap
OpenSea now operates with around 60 employees from its base in Miami, aiming to grow within the broader crypto market. The company plans to launch a mobile app and introduce a token through an independent foundation. These moves are part of the firm’s rebranding as “OpenSea 2.0.”

Finzer stated that OpenSea will aim for an experience “as intuitive as Robinhood but fully self-custodial.” This model supports user control while enabling simple asset trades. OpenSea now positions itself as a platform where the modern crypto economy actively trades.

Bitcoin rebounded on Friday afternoon after setting an early intraday low below $104,000.

CryptocurrencyTickerPriceBitcoin(CRYPTO: BTC)$106,795.15Ethereum(CRYPTO: ETH)$3,837.38Solana(CRYPTO: SOL)$183.59XRP(CRYPTO: XRP)$2.30Dogecoin(CRYPTO: DOGE)$0.1850Shiba Inu(CRYPTO: SHIB)$0.059750Notable Statistics:

Coinglass data shows 255,556 traders were liquidated in the past 24 hours for $985.30 million.        
In the past 24 hours, top losers include Aave (CRYPTO: AAVE), Aster (CRYPTO: ASTER) and Monero (CRYPTO: XMR).
Notable Developments:

Is Bitcoin At $106,000 ‘Cheap’? Here’s How You Can Tell
Peter Schiff Says Bitcoin, Ethereum Crash Is ‘Imminent’—But How Much Worse Can It Get?
Ripple Labs Is Leading A $1 Billion Fundraise To Establish XRP-Centered Treasury: Report
Bitfarms Stock Falls As Convertible Notes Swell To $500 Million
Anthony Scaramucci Was ‘Willing’ To Risk His Business For Bitcoin During The 2022 Crypto Winter
Trader Notes: MuroCrypto noted Bitcoin closing above $108,500 would signal a bullish setup, while staying below keeps the outlook bearish.

Current conditions, however, suggest that the bullish scenario remains possible.

Rekt Capital observed that Bitcoin has been oscillating within its macro range this month. The market experienced a fake breakout above the range high, followed by a fake breakdown below the range low, reflecting ongoing indecision.

Castillo Trading highlighted that Bitcoin's weekly chart remains fairly bullish, adding that it would be surprising if the current move marks a market top.

Crypto Tony suggested a long position could be considered if the $107,800 resistance zone flips into support but cautioned that it could also be a bearish retest, emphasizing the need for patience.

Read Next: 

Bitcoin Plunges To $105,000: Is This A Black Friday In The Making?
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TL;DR

Tether launched its open-source Wallet Development Kit (WDK), a modular toolkit that enables the creation of secure, self-custodial, and interoperable wallets.
The WDK supports Bitcoin, Lightning, Ethereum, Arbitrum, Polygon, Solana, TON, and other networks, integrating DeFi functions, payments, lending, swaps, and cross-chain transfers.
The kit allows both humans and AI agents to manage funds independently, boosting global adoption of stablecoins and Bitcoin.

Tether has open-sourced its Wallet Development Kit (WDK), a modular toolkit that allows developers to build secure, self-custodial wallets across multiple blockchains.

WDK Advantages
The initiative aims to empower both human users and autonomous machines or AI agents to create, deploy, and use wallets independently, without relying on centralized providers. The WDK is fully open-source and ecosystem-agnostic, enabling auditing, contributions, and flexible, secure development of custom solutions.

The kit supports Bitcoin, Lightning Network, Ethereum, Arbitrum, Polygon, Solana, TON, and other EVM and non-EVM networks. It enables integration of decentralized finance (DeFi) functions, payments, lending, swaps, cross-chain transfers, real-time balance updates, transaction tracking, and customizable user interfaces.

It is designed to run on any device, from mobile and desktop applications to embedded systems, IoT devices, and autonomous environments, ensuring compatibility with smartphones, trading bots, smart appliances, and more complex systems.

Tether’s AI Vision: Building the Future
Tether is increasingly focusing on artificial intelligence. Its open-source runtime, Tether AI, allows AI agents to send and receive payments in Bitcoin and USDT. Paolo Ardoino, the company’s CEO, anticipates that every AI agent will have its own wallet within the next 15 years, with the number of transacting agents potentially reaching one trillion. The goal is to create an open and resilient financial infrastructure where humans and machines have direct control over their funds, promoting the adoption of stablecoins and Bitcoin as means of payment and value storage.

The WDK incorporates USDT0 technology to ensure efficient liquidity and seamless cross-chain bridging, and it already serves as the foundation for projects like Rumble Wallet and Tether’s upcoming self-custodial wallet. End users benefit from an intuitive experience that simplifies complex crypto management, while developers gain a modular, scalable architecture for future innovation.

Tether continues to strengthen its financial infrastructure, promoting economic sovereignty and independence from centralized systems. Its WDK enables individuals, institutions, and even nations to create independent, secure, multi-chain wallets, expanding cryptocurrency adoption worldwide

By Reuters

October 17, 20255:56 PM UTCUpdated ago

Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. To match Special Report TESLA-PRIVACY/CAMERAS Patrick Pleul/Pool via REUTERS/File Photo Purchase Licensing Rights, opens new tab

CompaniesOct 17 (Reuters) - Proxy advisory firm Institutional Shareholder Services (ISS) on Friday urged Tesla shareholders to vote against CEO Elon Musk's proposed $1 trillion performance award, citing concerns over excessive compensation and governance risks.

Tesla did not immediately respond to a request for comment.

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Last month, Tesla's board proposed a $1 trillion compensation plan for Musk in what it described as the largest corporate pay package in history, setting ambitious performance targets and aiming to address his push for greater control over the company.

The vote on Musk's pay package is scheduled for early November.

Reporting by Akash Sriram in Bengaluru; Editing by Alan Barona

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On October 8, 2025, Sheets Smith Investment Management disclosed a new position in J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Nasdaq Equity Premium Income ETF (JEPQ 0.56%), acquiring 83,771 shares in an estimated $4.56 million trade.

What happenedAccording to a filing with the Securities and Exchange Commission dated October 8, 2025, Sheets Smith Investment Management initiated a new position in J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Nasdaq Equity Premium Income ETF (JEPQ 0.56%). The fund reported holding 83,771 shares, valued at $4.56 million. This marks the fund’s first reported ownership of the ETF.

What else to knowThis new position now represents 4.0% of Sheets Smith Investment Management’s reportable assets under management.

Top holdings after the filing:

VCSH: $8.05 million (7.1% of AUM)JEPQ: $4.56 million (4.0% of AUM)VCIT: $3.26 million (2.9% of AUM)CRS: $2.88 million (2.5% of AUM)NVDA: $2.84 million (2.5% of AUM)As of October 7, 2025, shares were priced at $57.32, up 6.0% over the past year and outperforming the S&P 500 by 0.9 percentage points

JEPQ’s indicated dividend yield is 10.4% as of October 8, 2025; the fund is 1.5% below its 52-week high as of October 7, 2025

Sheets Smith Investment Management reported $113.90 million in 13F assets across 71 positions for the period ended June 30, 2025.

Company overviewMetricValueAUM30.71 BPrice (as of market close October 7, 2025)$57.32Dividend yield10.4%One-year total return6.0%Company snapshotJPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is a large-scale, income-focused ETF with a market capitalization of $31.11 billion as of October 8, 2025. The fund employs an active options-based strategy to enhance yield while maintaining exposure to leading Nasdaq-100 equities.

Investment strategy focuses on generating income and capital appreciation by actively managing a portfolio of equity securities, primarily those in the Nasdaq-100 Index, and selling call options through equity-linked notes (ELNs).

The portfolio composition reflects the Nasdaq-100 benchmark, with additional income generated from option premiums. It is structured as a non-diversified exchange-traded fund focused on income generation.

Foolish takeSheets Smith's new position in the JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) signals a growing appetite among managers for income-focused equity exposure. JEPQ blends Nasdaq-100 stocks with an options overlay that converts volatility into cash flow. For investors navigating an uncertain rate path, the fund's double-digit yield offers a cushion against a uneven market climate.

JEPQ allows investors to stay in the tech-heavy part of Nasdaq while collecting option premiums that generate monthly income rather than chasing high growth names directly. This structure can appeal to investors prioritizing steady returns over full participation in market rallies. The trade off is that when stocks surge, its capped upside may limit gains. However, that is a fair exchange for steadier returns in a shifting market landscape. 

JEPQ has steadily gained tractions among portfolio managers who value consistent cash flow over chasing every market rally. Its blend of equity exposure and options income gives it power in a world where both growth and yield are hard to find simultaneously. Should markets stay volatile, JEPQ's steady strategy could prove less of a shield and more a path to long term compound growth.

GlossaryExchange-Traded Fund (ETF): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.

Assets Under Management (AUM): The total market value of investments that a fund or firm manages on behalf of clients.

13F Report: A quarterly filing by institutional investment managers disclosing their equity holdings to the SEC.

Dividend Yield: Annual dividends paid by a fund or stock divided by its current price, expressed as a percentage.

Equity-Linked Notes (ELNs): Structured financial products combining fixed-income and equity features, often used to generate income through options.

Call Options: Financial contracts giving the buyer the right to purchase an asset at a set price within a specific period.

Option Premiums: The income received by selling options contracts, often used to enhance yield in investment strategies.

Non-diversified Fund: A fund that invests in a limited number of securities or sectors, increasing potential risk and reward.

Income-Focused ETF: An ETF designed primarily to generate regular income, often through dividends or option strategies.

Active Management: An investment approach where managers make specific buy and sell decisions to outperform the market or benchmark.

Benchmark: A standard, usually an index, against which the performance of a security or fund is measured.

Total Return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.

Eric Trie has positions in Nvidia. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.

Presentation on Tuesday, October 21st at 3:30PM PT
October 17, 2025 2:10 PM EDT | Source: LD Micro
Carlsbad, California--(Newsfile Corp. - October 17, 2025) - Aptera Motors Corp. (NASDAQ: SEV), a solar mobility company pioneering ultra-efficient transportation, announced today that it will be presenting at the 19th annual Main Event on Tuesday, October 21st at 3:30PM PT at the Hotel del Coronado in San Diego, California. Chris Anthony, Co-CEO will be giving the presentation.

"The Main Event is a culmination of over 25 years of hard work and passion for small company investing. There is no organization on planet Earth that cares more about small companies succeeding than LD. To be able to connect with our community in one of the most beautiful settings imaginable brings me considerable joy. We look forward to welcoming all of our patrons and ensuring that they have a wonderful time," stated Chris Lahiji, Founder of LD Micro.

The event will provide an overview of Aptera’s business, mission, and strategy as a leader in the solar EV industry.

Event: LD Micro Main Event XIX
Date: Tuesday, October 21st
Time: 3:30PM

Register to watch the virtual presentation here.

Summary of LD Micro Main Event XIX

The 2025 LD Micro Main Event XIX will run from October 19th to the 21st at the Hotel del Coronado in San Diego, California.

The first day will consist of registration, keynote speakers, and some gorgeous views of the Pacific. It will be followed by two full days of company presentations and one-on-one investor meetings concluded with a closing reception.

This three-day event will feature around 120 companies, presenting in half-hour increments, and attending private meetings with investors.

About Aptera Motors Corp.

Aptera Motors Corp. is a solar mobility company driven by a mission to advance the future of efficient transportation. Its flagship vehicle is a paradigm-shifting solar electric vehicle that leverages breakthroughs in aerodynamics, material science, and solar technology to pursue new levels of efficiency. As a public benefit corporation, Aptera is committed to building a sustainable business that positively impacts its stakeholders and the environment. Aptera is headquartered in Carlsbad, California. For more information, please visit www.aptera.us.

About LD Micro

LD Micro is dedicated to being the definitive resource in the small-cap space. From its industry-recognized index and robust data to hosting some of the most influential events each year, LD Micro’s mission is to provide unparalleled access and insight for those seeking the next generation of great companies.

To learn more about LD Micro, visit:
http://www.ldmicro.com

To learn more about Freedom US Markets LLC, visit:
https://www.freedomcapmkts.com/

To present or register, please contact [email protected].

For further information on Aptera Motors Corp.:

Key Takeaways State Street posted Q3 EPS of $2.78, topping estimates and rising 23% from the prior year.Total revenues grew 8.8% y/y to $3.55B, driven by higher fee income and lower credit provisions.AUC/A hit $51.66T and AUM rose 15.1%, while higher expenses and weaker NII weighed on results.
State Street’s (STT - Free Report)  third-quarter 2025 earnings of $2.78 per share surpassed the Zacks Consensus Estimate of $2.62. The bottom line increased 23% from the prior-year quarter.

Results have been aided by growth in fee revenues and lower provisions. Also, the company witnessed improvements in the total assets under custody and administration (AUC/A) and assets under management (AUM) balances. However, higher expenses and lower net interest income (NII) acted as spoilsports.

Net income available to common shareholders was $802 million, up 17.6% from the year-ago quarter. Our projection for the metric was $698.1 million.

STT’s Revenues Improve, Expenses RiseTotal revenues of $3.55 billion increased 8.8% year over year. The top line surpassed the Zacks Consensus Estimate of $3.47 billion.

NII was $715 million, down 1.1% year over year. The fall was due to lower average short-end rates and deposit mix shift, partially offset by securities portfolio repricing and continued loan growth. Our estimate for the metric was $738.2 million.

The net interest margin (NIM) contracted 11 basis points year over year to 0.96%. We expected NIM to be 0.99%.

Total fee revenues increased 8.1% year over year to $2.83 billion. The rise was driven by an increase in almost all the components, except for lending-related and other fees. We estimated the metric to be $2.70 billion.

Non-interest expenses were $2.43 billion, up 5.5% from the prior-year quarter. The rise was mainly due to an increase in all components, except for the amortization of other intangible assets. Our estimate for non-interest expenses was $2.43 billion.

Provision for credit losses was $9 million, down 65.4% from the prior-year quarter. We had projected the metric to be $20.4 million.

The Common Equity Tier 1 ratio was 11.3% as of Sept. 30, 2025, compared with 11.6% in the corresponding period of 2024. The return on average common equity was 13.4% compared with 12% in the year-ago quarter.

Asset Balances Increase for State StreetAs of Sept. 30, 2025, the total AUC/A was a record $51.66 trillion, up 10.5% year over year. The rise was driven by higher quarter-end equity market levels and client flows. We had projected the metric to be $52.04 trillion.

AUM was $5.45 trillion, up 15.1% year over year, led by higher quarter-end market levels and net inflows. Our estimate for the metric was $5.55 trillion.

STT’s Share Repurchase UpdateIn the reported quarter, State Street repurchased shares worth $400 million.

Our Take on STTRelatively higher interest rates, strategic buyouts, rising AUM and solid business servicing wins are expected to keep supporting STT’s financials. However, persistently rising expenses and concentrated fee-based revenues are concerning.

State Street currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Performance of Other BanksImpressive trading and investment banking (IB) performance drove JPMorgan’s (JPM - Free Report) third-quarter 2025 earnings of $5.07 per share. The bottom line handily surpassed the Zacks Consensus Estimate of $4.83.

JPM’s markets revenues exceeded management's expectations of growth in the high-teens percentage rate. The metric grew 25% year over year to $8.9 billion. Specifically, fixed-income markets’ revenues jumped 21% to $5.6 billion, while equity markets’ numbers increased 33% to $3.3 billion.

Also, the IB business performance was far stronger than that expected by management.

JPMorgan recorded an increase in NII, driven by higher yields and a 7% year-over-year jump in total loans.

Citigroup Inc. (C - Free Report) reported third-quarter 2025 adjusted net income per share of $2.24, up 48.3% from the year-ago period. The metric also surpassed the Zacks Consensus Estimate by 17.3%.

Citigroup’s results benefited from an increase in NII and non-interest revenues, alongside lower provisions. The company also registered a year-over-year increase of 17% in IB revenues, reflecting growth in advisory and equity capital markets. However, increased expenses and a weak capital position were the undermining factors for Citigroup.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of PLD 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.

The adviser recommends investors reject moonshot pay deal and investment in XAI.

Key Takeaways Fifth Third's Q3 EPS of 93 cents beat estimates and rose from 85 cents a year earlier.
Higher net interest income and fees boosted total revenues 8% y/y.
FITB's loan and deposit balances grew, but credit quality and capital ratios weakened.

Fifth Third Bancorp (FITB - Free Report) reported third-quarter 2025 adjusted earnings per share (EPS) of 93 cents, surpassing the Zacks Consensus Estimate of 87 cents. In the prior-year quarter, the company posted an EPS of 85 cents.

FITB shares rose 2.7% in the early-market trading on better-than-expected results. A full day’s trading session will depict a clearer picture.

Results have benefited from a rise in net interest income (NII), fee income and loan balances. However, higher expenses and weak asset quality were headwinds.

Results included a negative 2-cent impact of certain items. After considering this, the company has reported net income available to common shareholders (GAAP basis) of $608 million, up 14% year over year.

FITB’s Quarterly Revenues & Expenses RiseTotal quarterly revenues (FTE) in the reported quarter were $2.3 billion, which increased 8% year over year. Further, the top line surpassed the Zacks Consensus Estimate by 0.5%.

Fifth Third’s NII (on an FTE basis) was $1.52 billion, up 7% year over year. Our estimate for NII was pegged at $1.51 billion. This improvement was driven by the benefits from proactive deposit and wholesale funding management, decreasing interest-bearing liabilities costs, an improved earning asset mix and the benefit of fixed-rate asset repricing.

The net interest margin (on an FTE basis) increased year over year to 3.13% from 29%. Our estimate for net interest margin was 3.05%.

Non-interest income rose 10% year over year to $781 million. This rise was primarily due to an increase in revenues from wealth and asset management revenues, capital markets fees, and consumer banking revenues. Our estimate for non-interest income was pinned at $769 million.

Non-interest expenses increased 2% year over year to $1.27 billion. The increase was primarily due to a rise in all cost components, except for compensation and benefits, and other non-interest income. Our estimate for the metric was the same as reported.

The efficiency ratio was 54.9%, lower than the year-ago quarter’s 58.2%. A decline in the ratio indicates an improvement in profitability.

FITB Loans & Deposits Balance Increase SequentiallyAs of Sept. 30, 2025, portfolio loans and leases rose slightly to $123.1 billion from the previous quarter. Total deposits inched up 1.4% from the previous quarter to $166.6 billion. Our estimates for portfolio loans and leases and deposits were $116.1 billion and $163.7 billion, respectively.

FITB’s Credit Quality DeterioratesThe company has reported a provision for credit losses of $197 million, up 23% from the year-ago quarter. Our estimate for the metric was pinned at $218 million.

Moreover, the total non-performing portfolio loans and leases were $801 million, up 10.5% year over year.

Net charge-offs in the third quarter increased to $339 million or 1.09% of average loans and leases (on an annualized basis) from $142 million or 0.48% in the prior-year quarter. Our estimate for net charge-offs was $144 million.

The total allowance for credit losses declined 1.1% to $2.42 billion year over year. Our estimate for allowance for credit losses was pinned at $2.63 billion.

Fifth Third’s Capital Position MixedThe Tier 1 risk-based capital ratio was 11.60% compared with 12.07% posted in the prior-year quarter. The CET1 capital ratio was 10.54%, down from 10.75% in the year-ago quarter. The leverage ratio was 9.24% compared with the year-earlier quarter’s 9.11%.

FITB’s Recent DevelopmentThis month, FITB entered a definitive merger agreement to acquire Comerica Incorporated (CMA - Free Report) . The impending acquisition serves as a strategic acceleration of Fifth Third’s long-term growth plan, enhancing scale, profitability and geographic reach.  

This transaction, expected to close at the end of the first quarter of 2026, will bring together two banking franchises to create the ninth-largest U.S. bank with nearly $288 billion in assets, $224 billion in deposits and $174 billion in loans.

Financially, the deal is projected to boost FITB’s earnings per share by 9% by 2027, while driving the combined efficiency ratio into the low-to-mid-50% range, roughly 200 basis points better than the current performance levels.

Our Viewpoint on Fifth ThirdA rise in NII, driven by loan growth, deposit rate management, and fixed-rate asset repricing, supported top-line growth. The company’s ongoing investments in growth priorities continue to drive robust results. However, higher expenses and weak asset quality remain near-term concerns.

Fifth Third Bancorp Price, Consensus and EPS Surprise

Currently, Fifth Third carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other BankHancock Whitney Corp.’s (HWC - Free Report) third-quarter 2025 earnings per share of $1.49 exceeded the Zacks Consensus Estimate of $1.41. Further, the bottom line rose 12% from the prior year quarter.

HWC’s results benefited from an increase in non-interest income and net interest income alongside lower provisions. Also, higher loans were another positive. However, higher adjusted expenses and lower deposit balances were headwinds. 

Q4: 2025-10-16 Earnings SummaryEPS of $0.72 misses by $0.05

 |

Revenue of

$188.30M

(-0.21% Y/Y)

misses by $2.27M

WaFd, Inc. (NASDAQ:WAFD) Q4 2025 Earnings Call October 17, 2025 10:00 AM EDT

Company Participants

Brad Goode - Chief of Communications, Marketing & Community Relations and Senior VP
Brent Beardall - President, CEO & Vice Chairman
Kelli Holz - Executive VP & CFO
Ryan Mauer - Executive VP & Chief Credit Officer
Cathy Cooper - Executive VP, Chief Experience Officer & Corporate Secretary

Conference Call Participants

Jeff Rulis - D.A. Davidson & Co., Research Division
Matthew Clark - Piper Sandler & Co., Research Division
Andrew Terrell - Stephens Inc., Research Division
Kelly Motta - Keefe, Bruyette, & Woods, Inc., Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to the WaFd Fourth Quarter and Fiscal Year 2025 Results Call. [Operator Instructions] Please be advised today's conference is being recorded. I would now like to hand this conference over to your speaker today, Brad Goode. Please go ahead.

Brad Goode
Chief of Communications, Marketing & Community Relations and Senior VP

Thank you, Kevin. Good morning, everybody. We are excited to have you all attending our first ever earnings conference call. We have listened to the feedback from many of you requesting that we hold a call like this, we've heard you, and so here we are. Let's dive into our 2025 fourth quarter and full year earnings report. You can find our earnings press release, along with our detailed fact sheet and investor scorecard on our website, I'm sure you all know where that is, wafdbank.com.

During today's call, we will make some forward-looking statements, which are subject to risks and uncertainties and are intended to be covered by the safe harbor provisions of federal securities law. Information on risk factors that could cause actual results to differ are available from the earnings press release that was released yesterday and the recently filed Form 10-Q

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Ford is recalling nearly 625,000 US vehicles over safety issues with the seat belts and camera displays that could increase the risk of a crash or injuries, the National Highway Traffic Safety Administration said Friday.

Certain 2015-2017 Ford Mustang vehicles are being recalled for faulty seat belt anchor cables that can corrode over time and break. This recall includes 332,778 units.

Water and salt from the road may corrode the front seat belt pretensioner cables, Ford said.

Ford is recalling nearly 625,000 US vehicles over safety issues with the seat belts and camera displays. Getty Images
This can cause the cables to break, preventing the seat belt from properly restraining passengers and thus increasing the risk of injury in a crash.

Owners should bring their vehicles to a dealership, where the front seat belt cables can be inspected and replaced if needed, free of charge.

Dealers will also remove sections of the carpet that come into contact with the cables.

Letters notifying owners of the safety risk are expected to be mailed sometime this month.

Additional letters will be sent once the final remedy is available, likely in January 2026.

Certain 2020-2022 F-250 SD, F-350 SD, and F-450 SD vehicles are being recalled for a faulty rearview camera image.

This recall includes 291,901 units, and estimates all of them have the defect.

The 360-degree view camera system may not properly display a rearview image in certain lighting conditions, appearing severely underexposed or overexposed.

The camera glitch could prevent the driver from clearly seeing the view behind their vehicle, increasing the risk of a crash, the automaker said in a recall report.

Water and salt from the road may corrode the front seat belt pretensioner cables, Ford said. Serg – stock.adobe.com
Owners should bring their vehicles to a dealership, where the image processing software will be updated, free of charge.

Ford said it expects to send letters notifying owners of the safety risk by Oct. 20, 2025.

Additional letters will be mailed when the final remedy is available, likely by March 2026.

The company said it is not aware of any accidents or injuries related to this recall.

It’s just the latest recall this year in a heavy batch for Ford, one of the “Big Three” automakers based near Detroit, Mich.

Certain Ford F-350’s are being recalled for a faulty rearview camera image. jetcityimage – stock.adobe.com
In the first six months of 2025, Ford issued more safety recalls than any other car company has in an entire calendar year, according to the Wall Street Journal.

The automaker has either reported the highest or second-highest number of recalls industry-wide each year since 2020.

The automaker issued 88 safety recalls through the end of June, according to federal data. It has recorded about 120 recalls so far this year.

ToplineLarry Ellison, the world’s second-richest person, had roughly $24 billion cut from his net worth as shares of his Oracle tumbled on Friday, despite executives providing revenue growth forecasts that were applauded by Wall Street.

Oracle’s chairman challenged Elon Musk for the world’s richest title following a record-breaking rally last month.

Copyright 2025 The Associated Press. All rights reserved

Key FactsShares of Oracle dropped about 7% to around $291 by Friday afternoon, pacing what would be the stock’s second-largest plunge this year.

Oracle executives, including Ellison and CEO Clay Magouyrk, among others, spoke with analysts late Thursday and forecasted revenue to grow at an average of 31% annually over the next five years, with sales expected to hit $225 billion by fiscal year 2030.

Executives said earnings are projected to increase to $21 per share by fiscal year 2030, an average of 28% annual growth.

The forecasts were celebrated among economists: Barclays analyst Raimo Lenschow wrote the estimates pulled ahead of Wall Street’s projections, while Guggenheim’s John DiFucci said growth estimates were “much higher than some have speculated.”

A stock slide could be attributed to Oracle executives failing to provide additional details about capital expenditure plans, Jefferies analyst Brent Thill wrote Thursday, noting there was “no-forward-looking commentary” on expenditures and that estimates would need to “ramp” in line with Oracle’s cloud infrastructure revenue growth.

Forbes ValuationEllison, who holds about 41% equity in Oracle, remains the second-wealthiest person in the world with a fortune estimated at $350.6 billion. The stock decline dropped about $24.1 billion from Ellison’s net worth, representing a 6.3% decrease. He trails Elon Musk for the world’s richest title, as the Tesla CEO’s net worth swells toward the $500 billion threshold once again, settling at $485.9 billion as of Friday. Ellison came within the ballpark of Musk’s fortune last month after Oracle shares soared the most since 1992, adding $110 billion to Ellison’s net worth in a single day as the Oracle chairman became the second person to ever eclipse $400 billion.

How High Could Oracle’s Stock Go?Despite pointing to a lack of answers on Oracle’s capital expenditures, Thill raised his price target for Oracle’s stock to $400 from earlier estimates of $360. DiFucci and Lenschow similarly raised their price targets to $400 from $375 and $367, respectively, maintaining a bullish outlook while Stifel analyst Brad Reback held his $350 price target.

Key BackgroundOracle’s stock has accelerated in recent months as the cloud computing giant has forecast significant revenue growth on AI demand. Last month, Oracle projected cloud infrastructure revenue to increase to $18 billion this fiscal year before nearly doubling to $32 billion in 2027, before hitting $73 billion, $114 billion and $144 billion over the following three years. The company also reported a 359% increase in contracted revenue that has yet to be recognized to $455 billion, after Oracle said it reached four multibillion-dollar contracts with three different customers through its latest quarter. Those estimates surprised analysts, including Deutsche Bank’s Brad Zelnick, who wrote that those on a call with Oracle executives at the time were “all kind of in a shock in a very, very good way,” as there was “no better evidence of a seismic shift happening in computing.”

Further Reading

As Salesforce (CRM) wraps up its Dreamforce event, Cory Johnson talks about the software giant's path forward. He notes the importance of free cash flow and the role agentic A.I.

Key Highlights

Major macroeconomic and geopolitical shifts during the quarter are reshaping the Western mine-to-magnet industryThe Halleck Creek Rare Earths Project represents a long-term, strategic solution to securing America’s rare earths supply Why it Matters

The Halleck Creek Rare Earths Project: A Wyoming Solution to Diversify and De-Risk the United States’ Upstream Rare Earths Supply Chain

DENVER, Oct. 17, 2025 (GLOBE NEWSWIRE) -- The Trump Administration has made significant and meaningful investments in reshoring the United States’ rare earths industry. However, the rapidly developing U.S. mine-to-magnet industry still has a single point of failure as there is only one domestic rare earths mine currently in production in the United States. Without additional domestic rare earths mines to diversify supply, the growing domestic magnetics industry (incentivized by the US government) remains exposed to supply chain vulnerabilities given the current concentration of global upstream rare earths mining and refining capacity in China.

American Rare Earths (“ARR”) (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) (“ARR” or the “Company”) offers a Wyoming-based solution, the Halleck Creek Rare Earths Project, a mine to magnet project that can diversify, de-risk, and ultimately supply the United States, and its allies, rare earths magnetics industries with the necessary light and heavy rare earths feedstock for the next 100+ years. American Rare Earths applauds the Department of Defense collaboration with MP Materials to construct the 10,000 tonnes per annum Independence Magnetics Facility. However, if the Mountain Pass mine remains the sole domestic supply of mined feedstock, the domestic rare earths market remains at risk. Based on the most recent technical study undertaken by ARR1, Halleck Creek’s initial base case production could fulfil upwards of 57% of the light rare earths (i.e. Neodymium-Praseodymium or “NdPr”) and 30% of the critical heavy rare earths (i.e Dysprosium, “Dy”, and Terbium, “Tb”) feedstock necessary to supply the Independence Magnetics facility for generations. Halleck Creek is America’s long-term rare earths supply solution.

ARR reports continued advancement at its flagship Halleck Creek Rare Earths Project in Wyoming for the quarter ending September 30, 2025. This report summarizes progress in test mining, process optimization, permitting and corporate initiatives during the period, with workstreams supporting design of a beneficiation demonstration plant and the permit-to-mine submission.

During the quarter the Company achieved many technical milestones which materially de-risk Halleck Creek’s development and move the Project closer to becoming the United States next producing rare earths mine. American Rare Earths strongly believes Halleck Creek is the solution to diversify and de-risk the United States’ upstream rare earths supply chain for generations to come.

Project Development and Permitting Milestones

Allanite Rare Earths Hydrometallurgical Processing Breakthrough: Successful Completion of the Impurity Removal Neutralization Test (October 13, 2025)

Impurity removal is one of the last steps in the hydrometallurgical processing of rare earths elements (“REE”) and is performed to remove non-REE minerals from the leach liquor prior to solvent extraction and separation (i.e. the final steps before producing rare earths oxide). Historically, this has been a challenging step for processing allanite-based REEs, like Halleck Creek’s ore, as the mineral typically produces unwanted byproducts such as gypsum and silica gel, resulting in additional and difficult processing steps to remove them.In a recent and extensive impurity removal test program on Halleck Creek ore minimal gypsum and silica gel were formed during the process, which points to immense operating benefits, including but not limited to the reduction of rare earths yield loss and fewer processing steps resulting in potentially lower capital and operating expenses.These results de-risk what has historically been a material technical and economic hurdle in the processing of allanite-based rare earths elements (i.e. Halleck Creek’s ore) and represent a major milestone in unlocking Halleck Creek’s vast REE supply potential. Strong Recoveries and Low Impurities Shown in Extensive Leach Testing of Halleck Creek Ore (July 9, 2025)

High Light Rare Earths Leach Recoveries Praseodymium (“Pr”) leach recoveries of 85% at optimal conditionsNeodymium (“Nd”) leach recoveries of 84% at optimal conditions Encouraging Heavy Rare Earths Leach Recoveries Terbium (“Tb”) leach recoveries of 52% at optimal conditionsDysprosium (“Dy”) leach recoveries of 46% at optimal conditions Significantly lower impurity elements of iron and aluminum Concentrations of iron and aluminum impurities post leach are approximately 5.0x and 2.9x, respectively, lower than the tests previously performed for the Scoping Study Atmospheric Tank Leach chosen as the preferred leach method Atmospheric tank leaching is typically more energy and reagent efficient and less costly than other rare earth leaching methods, such as an acid-bake (i.e. cracking) Test Mining Completed at The Cowboy State Mine (CSM), Optimization Tests Underway (September 23, 2025 and July 18, 2025)

Excavation and primary crushing of approximately 3,080 tonnes of ore was successfully and safely completed under the Company’s Wyoming exploration license. The extracted material will be used for both mineral processing optimization testing and as a stockpile for a future demonstration plant.Optimization testing underway with bulk samples dispatched to comminution experts in the U.S., Canada and Germany. Optimization tests will target low-effort, but high yield opportunities to increase overall rare earth magnet element recoveries and strengthen overall project economics. Permitting Progress at Halleck Creek (August 26, 2025)

Groundwater pump test completed at the CSM area to provide baseline data for the Wyoming Department of Environmental Quality permit-to-mine application.Environmental monitoring and hydrological modelling continuing as part of PFS and permitting requirements. Corporate and Funding Milestones (July 24, 2025 & October 2, 2025)

Robust cash position with funding secured for planned activities over the next 18-24 monthsA$15m placement completed in July 2025 at A$0.32 per share with strong institutional participation. Proceeds to fund a beneficiation demonstration-plant construction, in-fill drilling, and engineering programs.A$1.465m raised via the exercise of options in July and August 2025Post quarter end, ARR announces receipt of the final payment of A$1m, together with accrued interest, from Cobalt Blue Holdings Limited under the terms of the Promissory Note.At September 30, 2025, the Company has available approximately A$8.8m (US$5.6m) remaining under the State of Wyoming matching grant. Outlook

In the December 2025 quarter, American Rare Earths will focus on integrating results from ongoing optimization testwork into the Halleck Creek Pre-Feasibility Study (“PFS”) and beneficiation demonstration-plant design. Engineering and equipment planning will progress in parallel, with the goal of finalizing a robust mineral processing flowsheet for the PFS, followed by the publication of the technical report in 2026. Environmental and permitting activities will continue, including completion of the groundwater model and submission preparations for the Wyoming Department of Environmental Quality permit-to-mine application.

At the corporate level, the Company will continue to advance CEO recruitment and strengthen engagement with U.S. Federal and State agencies involved in critical-minerals strategy and funding programs. ARR remains focused on continuing to develop and de-risk the Halleck Creek project, with the goal of becoming the United States’ next producing rare earths mine to support the rapidly growing magnetics industry.

Strong Cash Position

At September 30, 2025, the Company had a cash position of A$21.2m and financial assets associated with ASX listed Cobalt Blue Holdings and Godolphin Resources of A$1.8m.

The Company had net cash expenditure of A$1.4m for operating costs and A$2.3m for project development (net of reimbursement from the Wyoming Energy Authority grant) activities during the quarter.

Post quarter end, the Company announced the receipt of the final payment of A$1m plus accrued interest from COB under the terms of the Promissory Note. Since the end of the quarter to the date of this release, the Company has raised a further A$3.495m via the exercise of 9m options.

Payments to related parties are included in item 6 of the Appendix 5B. Item 6.1 relates to payment of managing director salary, non-executive directors’ fees, superannuation and consulting fees for the quarter. Also included in the Sept 25 quarter are payments made in respect to the resignation of former Managing Director and CEO, Mr. Chris Gibbs, effective July 31, 2025.

This announcement has been authorized for release by the Board of American Rare Earths Limited.

Investors can follow the Company’s progress at www.americanree.com.

About American Rare Earths Limited:

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) is a critical minerals company at the forefront of reshaping the U.S. rare earths industry. Through its wholly owned subsidiary, Wyoming Rare (USA) Inc. (“WRI”), the company is advancing the Halleck Creek Project in Wyoming—a world-class rare earth deposit with the potential to secure America’s critical mineral independence for generations. Located on Wyoming State land, the Cowboy State Mine within Halleck Creek offers cost-efficient open-pit mining methods and benefits from streamlined permitting processes in this mining-friendly state.

With plans for onsite mineral processing and separation facilities, Halleck Creek is strategically positioned to reduce U.S. reliance on imports—predominantly from China—while meeting the growing demand for rare earth elements essential to defense, advanced technologies, and economic security. As exploration progresses, the project’s untapped potential on both State and Federal lands further reinforces its significance as a cornerstone of U.S. supply chain security. In addition to its resource potential, American Rare Earths is committed to environmentally responsible mining practices and continues to collaborate with U.S. Government-supported R&D programs to develop innovative extraction and processing technologies for rare earth elements.

For further information contact:

_______________________
1 ASX release dated 24 February 2025

JNJ's strong Q3 results, upbeat sales outlook and expanding drug pipeline highlight resilience despite Stelara LOE.

KeyCorp (NYSE:KEY) posted better-than-expected earnings for the third quarter on Thursday.

The company posted adjusted earnings of 41 cents per share, beating market estimates of 38 cents per share. The company's quarterly sales came in at $1.895 billion versus expectations of $1.881 billion.

KeyCorp's Chairman and CEO, Chris Gorman, said, “Our third quarter results demonstrate continued strong momentum. Adjusted revenue was up 17% year-over-year, and we generated more than 1,000 basis points of operating leverage again this quarter. Revenue growth was driven by our clearly defined net interest income tailwinds and adjusted noninterest income growth of 8%, which continues to grow faster than expenses. At the same time, we continue to make meaningful investments in front line bankers and technology that will drive future growth. Tangible book value per share grew 4% sequentially and 14% year-over-year.”

KeyCorp shares gained 0.6% to trade at $16.88 on Friday.

These analysts made changes to their price targets on KeyCorp following earnings announcement.

Truist Securities analyst Brian Foran maintained KeyCorp with a Hold and lowered the price target from $20 to $19.
DA Davidson analyst Peter Winter maintained the stock with a Buy and lowered the price target from $22 to $21.
Considering buying KEY stock? Here’s what analysts think:

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By

Bill McColl

Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

Published October 17, 2025

12:28 PM EDT

American Express shares climbed after the company posted strong quarterly results.
Scott Olson / Staff / Getty Images

Key Takeaways
Major U.S. equities indexes climbed at midday Friday as regional bank stocks rebounded from yesterday's losses after a flurry of corporate earnings reports.American Express shares climbed after the company posted strong quarterly results.Novo Nordisk and Eli Lilly shares lost ground after President Trump said he would look to lower prices for popular weight-loss drugs.

Major U.S. equities indexes climbed at midday Friday as regional bank stocks rebounded from yesterday's losses after a flurry of corporate earnings reports. The Dow, S&P 500, and Nasdaq were all higher.

Kenvue (KVUE) was the best-performing stock in the S&P 500 as investors bought the dip in the health care product’s stock following yesterday’s selloff after a lawsuit in the U.K. claimed the company’s baby powder caused cancer.

Shares of American Express (AXP) gained after the financial firm posted quarterly results that topped analysts' estimates and lifted its outlook as customers rushed to use its refreshed high-end credit cards.

Truist Financial (TFC) also posted better-than-expected results on higher wealth management fees and interest income, sending its shares higher.

Shares of Newmont (NEM) and rival gold miners slid as the price of the precious metal, which has been setting records recently, pulled back.

U.S.-listed shares of Novo Nordisk (NVO) and shares of Eli Lilly (LLY) were down following comments from President Trump about slashing prices for popular weight-loss drugs.

The yield on the 10-year Treasury note and oil futures edged higher. The U.S. dollar gained on the euro and pound, but lost ground to the yen. Most major cryptocurrencies traded lower. 

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