Market Signal Briefing

Across BNB, assistance for meme coins has totaled $45M through a Reload Airdrop from BNB Chain and partners, following heavy liquidations. Distribution has begun and is set to conclude by early November 2025 amid a rebound in BNB.

Hyperliquid, a leading decentralized derivatives platform, is set to roll out its highly anticipated HIP-3 protocol upgrade today, enabling permissionless perpetual futures market creation. This milestone is expected to strengthen Hyperliquid's position in the decentralized finance (DeFi) landscape while offering users and builders more flexibility in launching derivatives markets without centralized control.

Nasdaq-listed Solana Company, formerly Helius Medical Technologies, has swiftly emerged among the top corporate holders of digital assets after expanding its Solana (SOL) treasury to over 2.2 million tokens, now valued at approximately $525 million.

Disclosed in the firm’s October update, the move underscores its strategy to build a long-term digital asset treasury. It marks a growing trend of publicly traded companies embracing native crypto ecosystems as part of their core financial strategy.

Solana Company stated that the holdings were rapidly accumulated following its recent financing round. 

Combined with over $15 million in cash, the company’s liquid reserves now exceed $525 million based on the disclosed SOL valuation. 

Management describes the move as part of a strategic digital asset treasury initiative aimed at maximizing SOL per share and establishing the firm as a leading institutional custodian of Solana tokens.

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Strategically, the move highlights key market shifts, growing corporate appetite for crypto exposure beyond Bitcoin, the emergence of digital-asset treasuries as a modern capital strategy, and the rising institutional confidence in Solana’s expanding ecosystem.

Decentralization Could Accelerate Ethereum and Solana
Speaking at TOKEN2049 in Singapore, Muriel Médard, MIT researcher and CEO of decentralized memory firm Optimum, offered a striking insight that decentralization isn’t just a governance choice or ideological ideal, but a fundamental driver of efficiency. 

By distributing control and reducing bottlenecks, she noted that true decentralization could actually accelerate networks like Ethereum and Solana as they scale.

Conventional thinking wrongly treats decentralization as a compromise between security and speed, assuming that distributing control across thousands of nodes must slow consensus, according to Médard.

She argued instead that, when properly designed, decentralized systems can harness this distribution to achieve superior scalability and efficiency.

As a result, Médard emphasized that decentralization is not merely a design choice, but a principle of efficiency, where distributing control as systems scale can actually enhance, rather than hinder, performance.

In brief
Ripple is teaming with blockchain security firm Immunefi to host an "attackathon" for the XRP Ledger lending protocol.
If one serious bug is found, a full $200,000 will be provided to participants.
The protocol aims to eventually offer fixed-term, uncollateralized loans on the XRP Ledger.
Ripple is offering up to $200,000 to users who find security flaws in the proposed XRP Ledger lending protocol, incentivizing white hat hackers to “attack” the upcoming platform.

The rewards are part of an “attackathon” hosted by Ripple and blockchain security firm Immunefi that asks security researchers to poke and prod the codebase to find potential flaws, with a particular focus given to bugs that impact fund security and vault solvency. 

"The XRPL community is preparing for one of its most significant upgrades yet with the proposed lending protocol, which is expected to go to validator vote later this year. Before any major amendment like this moves forward, it’s critical to ensure the code is as secure and resilient as possible," RippleX Head of Product Jasmine Cooper told Decrypt. 

"Partnering with Immunefi, one of the top on-chain security platforms, allows us to tap into a global network of elite researchers who have secured some of the largest DeFi protocols to date," she added. "The Attackathon is just one part of a broader, layered security process."

To encourage those without experience on XRP Ledger, the firms are opening a two-week educational period for interested participants. During this time, researchers can gain support from Ripple engineers, access devnet guides and test environments, and more. 

After the education period is over, the attackathon will begin on October 27 and run through November 29. 

“If even one valid bug is found during the program, the full $200,000 is unlocked and will be distributed,” the announcement post reads. “If no bugs are found, a fallback pool of $30,000 is paid out to participants who submitted valid insights.”

The XRP Ledger lending protocol was introduced last fall at XRP Ledger Apex, a Ripple-hosted summit dedicated to fostering the build of the decentralized network. 

The protocol aims to introduce fixed-term, uncollateralized loans directly on XRP Ledger, without using smart contracts or wrapped assets. Instead, the protocol deliberately will rely on off-chain procedures to determine creditworthiness. Funds will then be pooled on-chain and repayments follow protocol-enforced terms.

Specific targets for the attackathon participants include liquidation logic, interest accrual bugs that may reward the wrong party, administrative attacks that could allow for alteration of protocol records, among others. 

While payments firm Ripple is linked to the network’s native token XRP and is a major contributor to the XRP Ledger, it does not have an affiliation with the bulk of the XRP Ledger validators. In August, former Ripple CTO David Schwartz told Decrypt that the firm runs “something like 1% of the XRP Ledger.” 

The network earned a last place security ranking from research firm Kaiko when compared to 14 other blockchains in August. But developers for the ledger pushed back on the claim and highlighted security endorsements from firms like CertiK, Halborn, and FYEO.

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CME Group, the world’s largest derivatives exchange, officially launched CFTC-regulated options for Solana and XRP.

Summary

CME Group officially launched options trading for Solana and XRP
Trading in two altcoins will fall under U.S. CFTC regulation
The move broadens institutional access for SOL and XRP

Institutional demand for major altcoins is growing. On Monday, Oct. 13, CME Group, the world’s largest derivatives exchange, officially launched options for Solana and XRP, fully regulated by the U.S. Commodity Futures Trading Commission.

Trading for Solana (SOL) and XRP (XRP) options is now live, giving institutional investors access to fully regulated derivatives on two of the most traded altcoins. The options are physically settled, available in both standard and micro sizes, and have daily, monthly, and quarterly expirations.

This means traders can now trade these altcoin options on the CME exchange in the same way they trade Bitcoin and Ethereum options. Until now, only SOL and XRP futures were available on the exchange.

Solana and XRP futures see strong volume
The move comes after CME obtained regulatory approval from the CFTC, and after Solana and XRP futures already amassed significant trading volume. This liquidity contributed to CME’s decision to expand investor access. What’s more, with the addition of options trading, activity for the two altcoins will likely increase.

In particular, since the launch of Solana futures in March, the platform facilitated trading of more than 540,000 contracts, with a notional value of $22.3 billion by September. On the other hand, there were 370,000 XRP contracts traded since May, with a notional value of $16.2 billion.

Blue-chip altcoins were among the first to bounce back after the $1 trillion crypto market wipeout. While CME announced expanding its options trading in September, it still signals growing institutional interest in these altcoins.

A crypto analyst has sparked fresh discussions on X social media after pointing out an eerie similarity between the current XRP price structure and its 2017 setup. Back then, the cryptocurrency experienced a sudden flash crash on Binance, dropping from $0.36 to $0.001 before soaring tens of thousands of percent to its all-time highs just weeks later.

XRP Mirrors Flash Crash Setup From 2017
A new technical analysis by a crypto market expert known as ‘Guy on the Earth’ on X recalls December 2017, when XRP faced an alleged rug pull moment from Binance, which sent its price into a sharp, temporary collapse before igniting one of the most powerful bull runs in its history. His chart shows a dramatic flash crash that saw the XRP price drop more than 99% from $0.36 to $0.001 before experiencing an explosive breakout that took it to record levels above $3.00 in early 2018. 

The analyst notes that this same structure appears to be forming once again on the XRP chart. The setup comes at a time when XRP faced one of its most drastic price declines in years, falling from $0.24 to $0.80 last week during a widespread market liquidation that saw almost all major cryptocurrencies in the red. Following the crash, reports from crypto members revealed that exchanges had allegedly refused retail investors from buying during the dip. 

Source: Chart from Guy on the Earth on X
Although XRP has since recovered from the severe crash, back up to $2.5 at the time of writing, the overall market sentiment remains cautious, echoing the uncertainty of late 2017 before the broader market entered its euphoric phase. Notably, the analyst acknowledged that the main difference between the current market and that of 2017 is the prevailing market sentiment following recent corrections—a disposition that could be described as post-crash fatigue.

However, the XRP price chart still shows striking parallels to the earlier cycle. The analyst notes that his short-term bias is for a slight recovery, followed by another major flush, before a possible repeat of XRP’s parabolic move eight years ago.  

XRP Macro Outlook Still Bullish
In a separate analysis, crypto market expert XForceGlobal presented a long-term outlook for XRP, showing an extended Elliott Wave count that suggests the cryptocurrency remains bullish on the macro timeframe. His chart shows that XRP had formed a multi-year consolidation triangle between 2021 and 2024. 

According to him, XRP is following a unique pattern called the “Flat route.” XForceGlobal noted that the cryptocurrency appears to have completed its second corrected leg and is now within the confirmation stage of a renewed uptrend. He highlights that, from a timing standpoint, XRP is in a favorable position for a continuation, predicting an initial surge to $3.30, followed by a powerful breakout toward $24 in Wave 3 and a potential peak around $34 in Wave 5. Still, he cautions that any sustained drop below $0.6 could invalidate this bullish setup.

XRP trading at $2.59 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from Getty Images, chart from Tradingview.com

Shibarium, the Ethereum Layer-2 network underpinning the Shiba Inu ecosystem, suffered a $4.1 million security breach in September 2025, sparking investor concerns.

Despite the setback, Shiba Inu’s marketing lead, Lucie, affirms confidence in the platform’s resilience and future.

Hackers exploited a vulnerability in Shibarium’s smart contract system, reportedly targeting liquidity pools through sophisticated methods. 

While the breach caused a substantial financial loss, experts confirm that Shibarium’s core technology and governance remain secure.

The breach highlights a key challenge for the crypto industry regarding Layer-2 solutions: while they are faster and cheaper, they are prime targets for hackers.

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Shiba Inu must boost smart contract audits, deploy multi-layered monitoring, and consult independent cybersecurity experts to safeguard Shibarium’s long-term stability.

Shiba Inu Token Burn Surges 449% in a Week, Fueling Speculation
Shiba Inu has recorded a major spike in token burns, with Shibburn data showing a 449.66% surge in the weekly burn rate. 

In just seven days, 71,297,136 SHIB tokens were permanently removed from circulation, one of the largest burn events in the token’s history.

Notably, token burning, permanently removing coins from circulation, is used to create scarcity and support value. For SHIB’s vast 589 trillion supply, consistent burns are vital to curb inflation and sustain investor confidence.

The recent surge in SHIB burns has reignited optimism across the Shiba Inu community and crypto investors, fueling speculation of a potential price rally.

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ALPHARETTA, Ga.--(BUSINESS WIRE)--Agilysys, Inc. (AGYS), a leading global provider of hospitality software solutions that enable organizations to go beyond what they can accomplish with traditional property management systems (PMS), point-of-sale (POS) solutions and food-and-beverage inventory and procurement (F&B I&P) systems, announced today that it will release its fiscal 2026 second quarter results after the market closes on Monday, October 27, 2025 and host a conference call and webcast at 4:30 p.m. ET that day. Both the call and webcast are open to the public.

All participants should register for the call using the participant registration URL: https://register-conf.media-server.com/register/BI72f30983d3cf4b45a0d406ea8d9ddb29

Once registered, participants will receive a confirmation email with the dial-in instructions and a unique PIN number to access the live call. Interested parties also can listen to the conference call live via the Internet at http://www.agilysys.com/company/investor-relations/events-presentations. Approximately two hours after the call concludes, an archived version of the webcast will be available for replay at the same location.

About Agilysys

Agilysys exclusively delivers state-of-the-art hospitality software solutions and services that help organizations go beyond what they can accomplish with traditional property management systems (PMS), point-of-sale (POS) solutions and food and beverage inventory and procurement systems. Modern, state-of-the-art solutions work standalone to provide best-in-class capabilities, or together in a coordinated ecosystem that unifies data and workflows across a property, to equip staff members to delight guests, improve efficiency and grow margins. www.agilysys.com

More News From Agilysys, Inc.

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, /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global leader in real-time communications technology and IP optical networking solutions, today announced that it will report financial results for the third quarter of 2025 after the close of the market on Wednesday, October 22, 2025. Following the release, Ribbon Communications will host a conference call with the financial community at 4:30 p.m. ET to discuss the results.

Conference Call Details and Webcast
Date: Wednesday, October 22, 2025
Time: 4:30 p.m. ET
Dial-in number (Domestic): 877-407-2991
Dial-in number (International): 201-389-0925
Instant Telephone Access: Call me™ 
Live (Listen-only) Webcast: Available via the Investor Relations website at investors.ribboncommunications.com, where a replay will also be available shortly following the conference call.

About Ribbon
Ribbon Communications (Nasdaq: RBBN) delivers secure cloud communications and IP and optical networking solutions to service providers, enterprises and critical infrastructure sectors globally. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today's smart, always-on and data-hungry world. Our end-to-end portfolio of communications software and IP Optical networking solutions delivers superior value and innovation by leveraging cloud-native architectures, automation and analytics tools, and leading-edge security. We maintain a keen focus on our commitments to Environmental, Social, and Governance (ESG) matters, offering an annual Sustainability Report to our stakeholders. To learn more about Ribbon, please visit rbbn.com.

SOURCE Ribbon Communications Inc.

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, /PRNewswire/ -- Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar and storage project developer, owner, and operator, today announced that its extraordinary general meeting (the "EGM") will be held at 2301 Sugar Bush Road, Suite 510, Raleigh, NC 27612, U.S. at 10:00 a.m. Eastern Standard Time on December 9, 2025. The record date for determination of shareholders entitled to vote at the meeting is October 23, 2025.

Shareholders will also be able to participate (but not vote) via live audio webcast in the EGM. To attend, please click the link below to access the webcast meeting:

Webcast Link: https://teams.microsoft.com/l/meetup-join/19%3ameeting_OTBlZmYyZjUtNTc2Ni00NjYyLTk2Y2UtMzQ1NGRjZmEzNjdk%40thread.v2/0?context=%7b%22Tid%22%3a%22fe651217-67a6-4b20-b542-c91719989449%22%2c%22Oid%22%3a%2205e5f7b1-07e0-4efc-94dd-77030500bb0d%22%7d
Meeting ID: 247 667 731 688 0
Passcode: qb9Vt3jM

Copies of the notice of the EGM, proxy form, poll card and annual report will be available on Emeren's website at https://www.emeren.com/2025-egm-summary .   

EGM Resolutions

The following resolutions to be proposed at the EGM will require a simple majority of the votes cast by the shareholders present in person or by proxy:

To approve the filing of the Agreement and Plan of Merger dated June 18, 2025, as amended by an amendment agreement dated September 2, 2025 (the "Merger Agreement"), by and among Shurya Vitra Ltd. ("Parent"), Emeren Holdings Ltd. ("Merger Sub") and the Company, the articles of merger and the plan of merger with the Registrar of Corporate Affairs of the British Virgin Islands in order to give effect to the merger of Merger Sub with and into the Company (the "Merger"), with the Company continuing as the surviving company as a wholly owned subsidiary of Parent, and to approve any and all transactions contemplated by the Merger Agreement.
To vote on a non-binding advisory basis to approve the compensation that may be paid or become payable to our named executive officers that is based on or otherwise relates to the Merger.
To vote on, if necessary or appropriate, the adjournment of the EGM, in order to allow the Company to solicit additional proxies in the event that there are insufficient proxies received at the time of the EGM to pass the foregoing resolutions.

About Emeren Group Ltd

Emeren Group Ltd (NYSE: SOL), a renewable energy leader, showcases a comprehensive portfolio of solar and storage projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle — from development through construction to financing — we excel by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of efficiency and impact. Our commitment to enhancing solar power and energy storage underlines our dedication to innovation, excellence, and environmental responsibility. For more information, go to  www.emeren.com .

For investor and media inquiries, please contact:

Emeren Group Ltd - Investor Relations
[email protected]  

SOURCE Emeren Group Ltd

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October 13, 2025 16:09 ET

 | Source:

Tilray Brands, Inc.

NEW YORK, Oct. 13, 2025 (GLOBE NEWSWIRE) -- Tilray Medical (“Tilray”), a division of Tilray Brands, Inc. (NASDAQ: TLRY and TSX: TLRY) and a global leader in medicinal cannabis, empowering the therapeutic alliance between patients and healthcare practitioners to make informed individualized health decisions, transforming healthcare, has announced plans to expand its medical cannabis operations into Panama. In connection with its expansion into Panama, Tilray has entered into a joint venture with Top Tech Global Inc. (“Top Tech”), whose members have extensive experience in the distribution of medical devices since 2014.  Together, Tilray and Top Tech, through their joint venture company, Solana Life Group, have received a medical cannabis license issued by the National Directorate of Pharmacy and Drugs in Panama authorizing the cultivation, manufacturing, import, export, distribution and sale of medical cannabis in Panama.  

With this joint venture partnership, Tilray Medical will leverage both its global expertise, as well as the local expertise of Top Tech to facilitate the launch and ongoing distribution of medical cannabis products across Panama, thereby enhancing access for patients in need. Tilray is committed to supporting the Panamanian medical community by providing education, maintaining a reliable supply chain, and offering a comprehensive portfolio of cannabinoid-based therapies. This partnership highlights Tilray’s dedication to patient-centric care worldwide and its objective to deliver safe, high-quality cannabis medicines tailored to individual patients’ requirements. Tilray Medical intends to collaborate closely with healthcare professionals, regulatory authorities, and patient advocacy organizations in Panama to provide trusted therapeutic alternatives and uphold rigorous standards in medical cannabis. This expansion represents a further progression in Tilray’s mission to support patients and healthcare practitioners globally, advancing healthcare through compassion and innovation.

About Tilray Medical

Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray Medical, Tilray Craft, Broken Coast, Redecan, Good Supply and Navcora. Tilray Medical grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Portugal and Germany. Today, Tilray Medical is a leading supplier of medical cannabis with a portfolio of brands and products designed to meet the needs of our patients worldwide in over 20 countries.

For further information on Tilray Medical, visit Tilray Medical Europe, Tilray Medical Canada, and Tilray Medical Australia-New Zealand.

About Tilray Brands

Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), is a leading global lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, New Zealand and Latin America that is leading as a transformative force at the nexus of cannabis, beverage, wellness, and entertainment, elevating lives through moments of connection. Tilray’s mission is to be a leading premium lifestyle company with a house of brands and innovative products that inspire joy and create memorable experiences. Tilray’s unprecedented platform supports over 40 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.

For more information on how we are elevating lives through moments of connection, visit Tilray.com and follow @Tilray on all social platforms.

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ability to successfully launch and distribute cannabis products in Panama and commercialize new and innovative products worldwide. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.

For further information:
Media: [email protected]
Investor Relations: [email protected]

October 13, 2025 16:10 ET

 | Source:

EverQuote, Inc.

CAMBRIDGE, Mass., Oct. 13, 2025 (GLOBE NEWSWIRE) -- EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, today announced that it will report third quarter financial results after the market close on Monday, November 3, 2025. Management will host a conference call and webcast to discuss the Company's financial results, recent developments, and business outlook at 4:30 p.m. ET.

What:EverQuote Third Quarter 2025 Financial Results Conference Call  When:Monday, November 3, 2025  Time:4:30 p.m. ET  Live Call:US Toll Free: (800) 715-9871 All Other: +1 (646) 307-1963 Conference ID: 8699350  Live Webcast and Replay: http://investors.everquote.com/ 
About EverQuote

EverQuote operates a leading online marketplace for insurance shopping, connecting consumers with insurance provider customers, which includes both carriers and agents. Our vision is to be the leading growth partner for property and casualty, or P&C, insurance providers. Our results-driven marketplace, powered by our proprietary data and technology platform, is improving the way insurance providers attract and connect with consumers shopping for insurance.

For more information, visit https://investors.everquote.com and follow on LinkedIn.

Investor Relations Contact:

Brinlea Johnson
The Blueshirt Group
(415) 269-2645
[email protected] 

Separation of Indian Motorcycle Sharpens Strategic and Operating Focus for Both Polaris and Indian Motorcycle

Enables Polaris to Concentrate Resources on Most Attractive Areas for Profitable Growth

Sale Expected to be Accretive to Polaris' Adjusted EBITDA Margins and Adjusted Earnings Per Share

Polaris President of On Road and International Mike Dougherty Announces Intent to Retire

Polaris Provides Preliminary Results for Q3 2025

, /PRNewswire/ -- Polaris Inc. (NYSE: PII) ("Polaris" or "the Company") today announced its decision to separate Indian Motorcycle ("the Business") from its portfolio and into a standalone business. The Company has entered into a definitive agreement to sell a majority stake in Indian Motorcycle to Carolwood LP, an independent private equity firm founded in 2014 and headquartered in Los Angeles, California. Indian Motorcycle contributed approximately $478 million, or 7.0%, of Polaris' revenues for the trailing twelve-month period ended June 30, 2025.

Upon close, the transaction is expected to be accretive to Polaris' annualized adjusted EBITDA by approximately $50 million and to adjusted earnings per share ("EPS") by approximately $1.00. The close of the transaction is expected to occur in the first quarter of 2026, subject to the satisfaction or waiver of customary closing conditions. Polaris is confident in Indian Motorcycle's future success under Carolwood ownership and will maintain a small equity position in the Business after the transaction closes. Additional terms of the deal were not disclosed. 

"Polaris and Indian Motorcycle both stand to benefit from this deal, which will enable each business to move faster, deliver industry-leading innovation, and lean further into our respective market strengths," said Polaris Chief Executive Officer Mike Speetzen. "For Polaris, the sale will further strengthen our focus on the areas of our portfolio that offer the strongest growth potential and allow us to accelerate investments in key initiatives and create wins with customers and dealers. It also will unlock greater long-term value for Polaris and our shareholders, with immediate value creation that we expect will become increasingly meaningful over time."

Speetzen continued, "Under Polaris' ownership and investment, Indian Motorcycle has been re-established as a celebrated brand and major player in the global motorcycle market. With its current product portfolio, global dealer network, category expertise and manufacturing resources, the Business is well positioned to succeed as a standalone company with a dedicated focus on its industry. We were highly intentional and selective in our search and planning efforts for Indian Motorcycle's next chapter of growth. In Carolwood, Indian Motorcycle has a partner that believes in building on the Business' current momentum and supporting its next stage of success. We are confident and committed to making this a seamless transition for Indian Motorcycle dealers, customers and employees."

"Indian Motorcycle is an iconic brand built on American heritage, craftsmanship, and most importantly, a community of riders," said Andrew Shanfeld, Principal at Carolwood. "We're honored to help usher in its next chapter as an independent company and to support its continued growth as a symbol of performance and pride. At Carolwood, we target iconic brands that we can passionately impact. Indian Motorcycle allows us to do just that."

Future Indian Motorcycle Leadership
Carolwood has selected Mike Kennedy to serve as CEO of the new independent Indian Motorcycle organization once the deal closes. A more than 30-year motorcycle industry veteran, Kennedy has a proven track record as a leader in and around the motorcycle industry. He previously served as CEO of RumbleOn, the nation's largest powersports dealership group; CEO and President of Vance & Hines, a leading manufacturer of high-performance aftermarket motorcycle exhaust systems and accessories; and spent 26 years at Harley-Davidson in various leadership roles.

Adam Rubin, Principal at Carolwood, said, "Indian Motorcycle has defined American motorcycling for over a century, and Carolwood's role is to ensure that legacy thrives for the next hundred years. Mike Kennedy brings over 30 years of experience leading iconic motorcycle and performance brands and will play a critical role in stewarding Indian Motorcycle's growth. At Carolwood, we're deeply committed to preserving what makes Indian Motorcycle special, supporting its growth, and empowering the team to write its next great chapter."

Continuity for Indian Motorcycle
As a part of the deal, approximately 900 employees will transition as a part of the new Indian Motorcycle Company. Indian Motorcycle will retain the majority of its team, including engineers, designers and staff, along with manufacturing resources. Manufacturing facilities in Spirit Lake, Iowa, and Monticello, Minn., as well as the industrial design and technology center in Burgdorf, Switzerland, will transition to the new standalone motorcycle company as a part of the deal. 

Indian Motorcycle will continue to provide sales, service, and support for dealers and customers throughout this transition. After the sale is finalized, Indian Motorcycle will operate independently of Polaris and continue selling motorcycles and parts, garments and accessories (PG&A) and providing service through its global Indian Motorcycle dealer network.

Polaris Leadership Update
Until the transaction closes, Polaris President of On Road and International Mike Dougherty will continue to lead the On Road and International businesses, including Indian Motorcycle, at Polaris. Over the next several months, he will help shepherd Indian Motorcycle in its transition to becoming a standalone company. Dougherty, with a distinguished nearly 28-year career with Polaris, has announced his intent to retire upon the closing of the transaction.

"During his tenure with Polaris, Mike's passionate leadership is responsible for countless contributions. As a result of his tenacity and guidance, Mike shaped our international business into what it is today, scaling it over the last 25 years and establishing a direct presence in more than fifteen countries. He has expanded our business outside of North America, growing revenue from under $100 million in 2000 to more than $1 billion today, as well as strengthened our On Road businesses within their respective markets, including Indian Motorcycle achieving the No. 1 market share position in the United States for mid-size cruisers last year," said Speetzen. "More than that, Mike is known for the teams he builds, the talent he cultivates and the culture he fosters, and I want to thank Mike for his dedication to Polaris all these years. We wish him the very best in his future retirement."  

Preliminary View of Polaris Third Quarter Earnings Results
The Company is scheduled to publish its third quarter 2025 results on Tuesday, October 28, 2025. At that time, management will provide additional details regarding today's announced transaction and quarterly performance.

Commenting on preliminary Third Quarter results, Speetzen said: "As we prepare to report our third quarter results, we're encouraged by improving retail trends with ORV ex-Youth up low double digits and continued strong share gains in ORV. Based on preliminary data, we expect third quarter sales to be at the high end of our previously issued guidance range of $1.6 billion to $1.8 billion. We anticipate third quarter adjusted EPS to be in the range of $0.31 to $0.41, which is meaningfully higher than our original expectations, driven by higher-than-expected shipments, strong cost management and ongoing progress within our operational efficiency initiatives." 

Polaris' estimates for the three months ended September 30, 2025 are preliminary and represent the most current information available to its management. Polaris' actual results may differ from the preliminary estimates due to the completion of its financial closing procedures, final adjustments and other developments that may arise between the date of this press release and the time that financial results for the three months ended September 30, 2025 are finalized.

Advisors
Goldman Sachs & Co. LLC is serving as financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Polaris.

Sheppard, Mullin, Richter & Hampton LLP is serving as legal advisor to Carolwood LP. Carolwood is also being advised by RSM, Alliant, and Finnea Group.

Non-GAAP Financial Measures
This press release contains adjusted earnings per share ("Adjusted EPS"), which is a non-GAAP measure, as a measure of our operating performance. Management believes this measure may be useful in performing meaningful comparisons of past and present operating results, and to understand the performance of its ongoing operations and how management views the business.

The Company has not provided a reconciliation of preliminary results for adjusted earnings per share, in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company is unable, without unreasonable efforts, to finalize certain items required to develop meaningful comparable GAAP financial measures. 

Note Regarding Forward-Looking Statements
This press release contains not only historical information, but also "forward-looking statements" intended to qualify for the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These "forward-looking statements" can generally be identified as such because the context of the statement will include words such as we or our management "believe," "anticipate," "expect," "estimate" or words of similar import. Our statements relating to our preliminary Third Quarter results and other statements that describe our future plans, objectives or goals, such as the benefits of the potential separation of Indian Motorcycle from our portfolio (including the expected impact on margins and adjusted EPS), the expected timing for the completion of the separation, future cash flows and capital requirements, operational initiatives are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Forward-looking statements may also be made from time to time in oral presentations, including telephone conferences and/or webcasts open to the public.

Potential risks and uncertainties include such factors as the Company's ability to complete the proposed separation of Indian Motorcycle in a successful and timely basis or at all; the Company's ability to derive the expected benefits from the separation including the separation being accretive, within the expected timeline or at all; the Company's ability to successfully implement its manufacturing operations strategy and supply chain initiatives; the Company's ability to successfully source necessary parts and materials on a timely basis; the ability of the Company to manufacture and deliver products to dealers to meet demand, including as a result of supply chain disruptions; the Company's ability to identify and meet optimal dealer inventory levels; the Company's ability to accurately forecast and sustain consumer demand; the Company's ability to mitigate increasing input costs through pricing or other measures; product offerings, promotional activities and pricing strategies by competitors that may make our products less attractive to consumers; the Company's ability to strategically invest in innovation and new products, including as compared to our competitors; economic conditions that impact consumer spending or consumer credit, including recessionary conditions and changes in interest rates; disruptions in manufacturing facilities; product recalls and/or warranty expenses; product rework costs; impact of changes in Polaris stock price on incentive compensation plan costs; foreign currency exchange rate fluctuations; environmental and product safety regulatory activity; effects of weather on the Company's supply chain, manufacturing operations and consumer demand; commodity costs; freight and tariff costs (tariff relief or ability to mitigate tariffs, particularly in light of policies of the current presidential administration and retaliatory actions in response thereto); changes to international trade policies and agreements; uninsured product liability and class action claims (including claims seeking punitive damages) and other litigation expenses incurred due to the nature of our business; uncertainty in the consumer retail and wholesale credit markets; performance of affiliate partners; changes in tax policy; relationships with dealers and suppliers; and the general global economic, social and political environment. The risks and uncertainties discussed in this press release are not exclusive and other factors that we may consider immaterial or do not anticipate may emerge as significant risks and uncertainties. Any forward-looking statements made in this press release or otherwise speak only as of the date of such statement, and we undertake no obligation to update such statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements. We advise you, however, to consult any further disclosures made on related subjects in future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that are filed with or furnished to the Securities and Exchange Commission.

ABOUT POLARIS
As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. Polaris' high-quality product line-up includes the RANGER, RZR and Polaris XPEDITION and GENERAL side-by-side off-road vehicles; Sportsman all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle mid-size and heavyweight motorcycles; Slingshot moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with a robust portfolio of parts, garments, and accessories. Headquartered in Minnesota, Polaris serves nearly 100 countries across the globe. www.polaris.com

ABOUT CAROLWOOD LP
Carolwood is an independent, multi-strategy private equity firm based in Los Angeles. Founded in 2014, the firm's objective is to acquire a diverse portfolio of assets with significant repositioning potential and long-term growth opportunities. The firm has specifically designed its systems and infrastructure to support scaled, heavily entangled corporate subsidiaries as they transition into standalone companies. Carolwood is committed to enhancing the value of the companies and communities in which it invests.

SOURCE Polaris Inc.

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FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Universal Insurance Holdings, Inc. (NYSE: UVE) (“Universal” or the “Company”) will issue a press release reporting its third quarter 2025 results after the market closes on Thursday, October 23, 2025. The company will host a conference call on Friday, October 24, 2025, at 10:00 a.m. ET to discuss financial results.

Investors and other interested parties may listen to the call by accessing the online, real-time webcast at universalinsuranceholdings.com/investors or by registering in advance via teleconference at https://register-conf.media-server.com/register/BIeb9ca2931a194b81a76a3131a4017eb2. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. An online replay of the call will be available at universalinsuranceholdings.com/investors shortly after the investor call concludes.

About Universal

Universal Insurance Holdings, Inc. (NYSE: UVE) is a holding company providing property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We provide insurance products in the United States through both our appointed independent agents and our direct online distribution channels, primarily in Florida. Learn more at universalinsuranceholdings.com or get an insurance quote at Clovered.com.

More News From Universal Insurance Holdings, Inc.

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NEW YORK, Oct. 13, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Quantum Corporation (NASDAQ: QMCO) between November 15, 2024 and August 18, 2025, inclusive (the “Class Period”), of the important November 3, 2025 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased Quantum Corporation securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Quantum Corporation class action, go to https://rosenlegal.com/submit-form/?case_id=43932 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 3, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Quantum Corporation improperly recognized revenue during the fiscal year ended March 31, 2025; (2) as a result, Quantum Corporation would need to restate its previously filed financial statements for the fiscal third quarter ended December 31, 2024; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Quantum Corporation class action, go to https://rosenlegal.com/submit-form/?case_id=43932 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

HAMILTON, BERMUDA, October 13, 2025 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announced the appointment of Svein Moxnes Harfjeld to the Board of Directors, effective immediately:

Mr. Harfjeld currently serves as President and Chief Executive Officer of DHT Holdings, a position he has held since 2010 and will continue to hold.

Chairman of the Board, Mr. Erik A. Lind stated: "With his over 30 years of experience in the global shipping industry, Mr. Harfjeld brings additional strategic insight and operational expertise to the Board. His insight and contributions have been instrumental in shaping DHT’s development, growth, and commitment to shareholder value. With this appointment, DHT’s Board continues to reflect a sound balance of independence and executive experience, aligned with the company’s commitment to a high level of integrity and corporate governance"

Mr. Harfjeld is a Norwegian citizen and resides in Monaco.

About DHT Holdings, Inc.
DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our fleet employment with a combination of market exposure and fixed income contracts; our disciplined capital allocation strategy through cash dividends, investments in vessels, debt prepayments and share buybacks; and our transparent corporate structure maintaining a high level of integrity and corporate governance. For further information please visit www.dhtankers.com.

Forward Looking Statements
This press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company’s management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as “believe,” “intend,” “anticipate,” “estimate,” “project,” “forecast,” “plan,” “potential,” “will,” “may,” “should” and “expect” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company’s current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company’s estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company’s Annual Report on Form 20-F, filed with the SEC on March 20, 2025.

The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company’s actual results could differ materially from those anticipated in these forward-looking statements.

Contact:
Laila C. Halvorsen, CFO
Phone: +1 441 295 1422 and +47 984 39 935
E-mail: [email protected]

, /PRNewswire/ -- SM Energy Company (the "Company") (NYSE: SM) today announces that it plans to release its third quarter 2025 financial and operating results after market hours on November 4, 2025. See schedule below:

November 4, 2025 – After market close, the Company plans to issue its third quarter 2025 financial and operating results, which will include an earnings release, a pre-recorded webcast discussing third quarter 2025 financial and operating results, and an associated presentation, all of which will be posted to the Company's website at http://www.sm-energy.com/investors.

November 5, 2025 – Please join SM Energy management at 8:00 a.m. Mountain time/10:00 a.m. Eastern time for the third quarter 2025 financial and operating results Q&A session. This discussion will be accessible via:

Webcast (available live and for replay) - on the Company's website at http://www.sm-energy.com/investors (replay accessible approximately 1 hour after the live call); or
Telephone - join the live conference call by registering at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=M2QTXycV. Dial-in for domestic toll free/International is 877-407-6050 / +1 201-689-8022.

ABOUT THE COMPANY

SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs in the states of Texas and Utah. SM Energy routinely posts important information about the Company on its website. For more information about SM Energy, please visit its website at http://www.sm-energy.com.

SM ENERGY INVESTOR CONTACT

Pat Lytle, [email protected], 303-864-2502

Meghan Dack, [email protected], 303-837-2426

SOURCE SM Energy Company

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WEST PALM BEACH, Fla., Oct. 13, 2025 (GLOBE NEWSWIRE) -- PHH Mortgage (“PHH” or the “Company”), a subsidiary of Onity Group Inc. (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced that the Company expects to launch a new suite of proprietary non-qualified mortgage (non-QM) products known as FlexIQ on October 20. The product suite will be available through the Company’s Correspondent Lending channel for delegated and non-delegated loans.

“We designed FlexIQ with our clients’ needs in mind, offering them an easier, streamlined process and a flexible product suite to meet the growing demand for non-QM products,” said Rich Bradfield, Executive Vice President and Chief Growth Officer. “We are excited to launch FlexIQ, which underscores our commitment to being a trusted partner by continuing to provide value-added products to our clients and the customers they serve.”

"FlexIQ is our new proprietary product with a service-first approach that includes a single standard for underwriting across multiple product types, a dedicated support desk, and necessary training, as well as other helpful resources,” added Andy Peach, Executive Vice President and Chief Lending Officer. “We anticipate that FlexIQ will serve as a cornerstone in expanding our non-agency product offerings to help our clients grow their business."

FlexIQ offers flexible underwriting and intelligent mortgage solutions in the following three product categories:

Full Documentation (Full Doc): Designed for borrowers who are seeking loan limits above traditional Agency standards.Alternative Documentation (Alt Doc): Designed for non-traditional income profiles for borrowers who require alternative methods to document their income.Debt Service Coverage Ratio (DSCR): Designed for real estate investors who are seeking to qualify based on rental income compared to monthly housing expenses.
FlexIQ will replace PHH’s previously offered Gold/Silver/Bronze non-QM programs. For more information on PHH Correspondent products, please visit https://correspondent.phhmortgage.com.

About Onity Group

Onity Group Inc. (NYSE: ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit onitygroup.com.

PHH Mortgage is an equal housing lender.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by a reference to a future period or by the use of forward-looking terminology. Forward-looking statements are typically identified by words such as “expect”, “believe”, “foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”, “plan” “target” and “project” or conditional verbs such as “will”, “may”, “should”, “could” or “would” or the negative of these terms, although not all forward-looking statements contain these words, and includes statements in this press release regarding the anticipated benefits of the FlexIQ product to PHH’s correspondent lending clients and the ability of PHH to continue expanding product options.

Forward-looking statements involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, changes in market conditions, the industry in which Onity operates, and its business, the actions of governmental entities and regulators, developments in litigation matters, and other risks and uncertainties detailed in Onity’s reports and filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2024 and subsequent reports. Anyone wishing to understand Onity Group Inc.’s business should review its SEC filings. Onity’s forward-looking statements speak only as of the date they are made and Onity disclaims any obligation to update or revise forward-looking statements whether as a result of new information, future events or otherwise.

For Further Information Contact:

Dico Akseraylian, SVP, Corporate Communications
(856) 917-0066
[email protected]

The meat-alternative producer plans to issue new shares after a debt exchange gives it more time to restructure the business.

, /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) intends to release third quarter 2025 results for the period ended September 30, 2025, on Wednesday, November 5, 2025, after the U.S. financial market closes. In addition to this release, Talos will host a conference call, broadcast live over the internet, on Thursday, November 6, 2025, at 10:00 AM Eastern Time (9:00 AM Central Time).

Listeners can access the conference call through a webcast link on the Company's website at: Talos Third Quarter 2025 Webcast. Alternatively, the conference call can be accessed by dialing (800) 836-8184 (North American toll-free) or (646) 357-8785 (international). Please dial in approximately 15 minutes before the teleconference is scheduled to begin and ask to be joined into the Talos Energy call. A replay of the call will be available one hour after the conclusion of the conference until November 13, 2025 and can be accessed by dialing (888) 660-6345 and using access code 13769#.

ABOUT TALOS ENERGY

Talos Energy (NYSE: TALO) is a technically driven, innovative, independent energy company focused on maximizing long-term value through its Exploration & Production business in the United States Gulf of America and offshore Mexico. We leverage decades of technical and offshore operational expertise to acquire, explore, and produce assets in key geological trends while maintaining a focus on safe and efficient operations, environmental responsibility, and community impact. For more information, visit www.talosenergy.com .

INVESTOR RELATIONS CONTACTS

Clay Jeansonne
[email protected]

Kyle Sahni
[email protected]

SOURCE Talos Energy

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Strategy (NASDAQ:MSTR) and BitMine Immersion Technologies (NASDAQ:BMNR) have expanded their crypto holdings of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) during what has been described as the largest liquidation event in digital asset history.

What Happened: BitMine added 202,037 ETH, boosting its total Ethereum holdings to over 3 million ETH, equivalent to roughly 2.5% of total supply.

This makes BitMine the world's largest Ethereum treasury and the second-largest overall crypto treasury after Strategy.

The company's total digital assets now stand at $13.4 billion, consisting of 3,032,188 ETH, worth about $12.6 billion, 192 BTC, a $135 million "moonshot" investment in Eightco Holdings, and $104 million in cash.

Meanwhile, Strategy disclosed the purchase of 220 BTC for $27.2 million at an average price of $123,561 per BTC, achieving a 25.9% BTC yield year-to-date in 2025.

As of Oct. 12, Strategy holds 640,250 BTC, acquired for approximately $47.4 billion at an average cost of $74,000 per BTC.

Also Read: Peter Schiff Says Bitcoin’s Recovery Is A ‘Dead Cat Bounce’ While Gold Makes Another All-Time High

Why It Matters: The coordinated corporate accumulation comes immediately after a $19.16 billion crypto liquidation, triggered by a U.S. tariff hike on China, marking the largest wipeout ever recorded.

The previous records stood at $9.94 billion in April 2021 and $9 billion in May 2021.

Morgan Stanley last week instructed its financial advisors to broaden access to crypto investments for all clients, allowing digital asset exposure across any account type, including retirement portfolios.

Read Next: 

Bitcoin Roars To $114,000, Ethereum, XRP, Dogecoin Rebound From $20 Billion Liquidation Catastrophe
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Published: Oct 13, 2025, 18:24 GMT+00:00

A protracted correction since the August 24 all-time-high should have ended last Friday with a C-wave flash crash, and a rally to at least $6140 should commence, contingent on holding above $3546.

All We Can Do Is “Anticipate, Monitor, and Adjust if necessary”
Much has changed in Ethereum’s price (ETHUSD) since our last public update four weeks ago, see here, when we expected a quicker rally to $6000+. Notably, Ether experienced a significant detour over the past four weeks, including a sudden spike on Friday, but the overall outlook remains unchanged, see Figure 1 below.

Specifically, our preferred long-term Elliott Wave Principle (EW) analysis suggests that ETHUSD is in the final upward impulse from its April 2025 low: the black Wave-5. Since impulses move in five waves (red W-i, ii, iii, iv, v) and only four have occurred so far, at least one more wave (red W-v) is needed. The ideal target zone for W-v is $6921 to $9159.

Figure 1. Our preferred long-term EW count for Ethereum.
In this case, we count down months since the April black W-4 low as the second and fourth waves of the black W-5: red W-ii and W-iv, respectively. Additionally, at last week’s low, Ether retested the breakout from the bull flag pattern it remained in for most of 2022-24. This is a classic technical pattern. From this perspective, the bull flag target of $6141 remains unmet, given the recent $4955 ATH on August 24.

Last Week’s Flash Crash
So, what happened last week? (Flash) Crashes are most often C-waves. Last Friday was no different, and our adjusted short-term EW count indicates the flash crash most likely finished the green W-c of the red W-iv. In this case, the 4th wave became extended rather than simple, as shown in our last update, developing into a seven-week-long expanded flat. See Figure 2 below.

Figure 2. Our preferred short-term EW count for Ethereum.
The 11-day rally, which peaked at the October 7 high of $4758, consisted of seven waves and was therefore a corrective B-wave, as such waves typically move in 3, 7, 11, etc., steps, while impulses move in 5, 9, 11, etc., steps. Additionally, although the red W-iii topped beyond the usual 161.8% Fibonacci extension, Ether bottomed out right at the 100.0% Fib extension at Friday’s low, which is a common 4th wave target.

Therefore, as long as it stays above last Friday’s $3546 low, we can expect Ether to still reach over $6000 and possibly as high as $9000 in the coming weeks and months. To keep our members informed of the latest developments in this rapidly changing crypto market, we provide a daily newsletter—essential for staying current.

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Dr. Ter Schure founded Intelligent Investing, LLC where he provides detailed daily updates to individuals and private funds on the US markets, Metals & Miners, USD,and Crypto Currencies

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TLDR:

XRP price crashed from $2.50 after $50M in futures liquidity disappeared within minutes on Binance.
Liquidity on both bid and ask sides plunged as market makers pulled orders during XRP’s rapid drop.
Traders now eye $2.65 as a key resistance level, according to EGRAG Crypto’s latest chart analysis.
XRP trades near $2.62 with over $9B in daily volume, marking a 3.37% gain after a week of decline.

For a brief stretch, XRP’s futures market looked like a black hole. Liquidity that had supported the token for hours suddenly disappeared, leaving traders with no bids to lean on. 

Within minutes, XRP’s price plunged from $2.50 to $1.19. It was a brutal snapshot of how fast crypto markets can unravel when liquidity dries up.

Market data shared by trader Dom (@traderview2) showed that, for two hours before the crash, Binance Futures had around $50–60 million in liquidity within 5% of XRP’s price on both sides of the book. 

Everything looked steady until the first sharp wave of selling around 21:00. Nearly $20 million in XRP was sold as shorts entered and long positions were forced out.

$XRP orderbook depth on Binance Futures during the crash

Prime example of "liquidity evaporation"

For 2+ hours before the cascade: ~$50-60M in liquidity within 5% of price on both sides. Stable, deep book

Look closely right before 21:00 during that first leg down, nearly 20M… pic.twitter.com/QJBX02qTtC

— Dom (@traderview2) October 13, 2025

Liquidity Evaporates as Market Makers Step Back
During that sell-off, bid-side liquidity collapsed almost instantly. Dom noted that buy orders within 5% of price dropped from $50 million to almost zero. The ask side fell too, though it briefly spiked just before the next downward move. That’s when XRP traded near $2.50 with virtually no liquidity underneath.

He explained that no one replenished the book. Market makers either pulled their orders or stood aside to protect against further losses. 

In the next ten minutes, another $50 million worth of XRP sold into a hollow market. With almost no bids left to absorb pressure, the token slid straight down to $1.19 before stabilizing.

Traders Now Eye $2.65 Resistance as XRP Price Attempts Recovery
After the steep decline, XRP has shown signs of recovery. According to EGRAG Crypto (@egragcrypto), the $2.65 level now acts as firm resistance, a level that once served as strong support during earlier rallies. 

#XRP Update: $2.65 – Again A Key Level But This Time Resistant 🔑📈:

What was once strong support has now turned into a formidable resistance level.

$2.65 is playing a major role again! If we can flip it into support on the 3-day timeframe with a full body candle, we’ll be in a… https://t.co/7HONwm4EMZ pic.twitter.com/Pc8ji5igOw

— EGRAG CRYPTO (@egragcrypto) October 13, 2025

He stated that a clean break and close above it on the three-day chart could put XRP back on track toward $2.85, aligning with its 21-day EMA.

As of CoinGecko’s data at publication, XRP trades at $2.62 with a daily volume of more than $9 billion. 

The token has gained 3.37% in the past 24 hours but remains down 13.85% for the week. For traders, the rebound is encouraging, yet the episode serves as a reminder: even deep crypto markets can turn fragile in seconds.

XRP price on CoinGecko

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

During the weekend, the entire cryptocurrency market saw a notable downward move, with the price of Solana losing the $200 mark in a swift and sudden pullback. Nonetheless, this sharp bearish move in price did not hinder the network’s on-chain activity, which continues to grow strongly.

While Markets Crashed, Solana Network Stood Strong
The Solana blockchain has displayed notable resilience once again, even as the broader crypto market experienced a huge bearish wave. With the report from SolanaFloor on the social media platform X, the leading network maintained a positive performance in opposition to its price action.

According to the platform, the network did quite well during the biggest cryptocurrency liquidation event in history, with median fees staying low. This high network performance and uptime reinforce its growing reputation as one of the most robust and scalable blockchains in the crypto sector. Meanwhile, Ethereum layer 2s mimicked mainnet fee increases, with Arbitrum gas hitting roughly $100 per transaction. 

Solana’s performance metrics continue to astonish the crypto community, as the blockchain recently witnessed a significant surge in raw transactions. This astounding throughput, which greatly exceeds that of the majority of other major blockchains, highlights SOL’s technological advantage in scalability and efficiency.

Source: Chart from SolanaFloor on X
Data from the platform shows that SOL’s raw transactions surged to an impressive 6,000 to 10,000 per second. Such a high number of transactions points to increasing developer adoption, NFT engagement, and active Decentralized Finance (DeFi).

In addition to the rise in raw transactions, SolanaFloor highlighted that utilization drew close to 60 CUs per block. During this time, its median transaction fees have stayed low, indicating the rising prominence of SOL as a top platform for blockchain apps with outstanding performance.

SOL’s DEXs Trading Volume On The Rise
Amid the largest crypto liquidation event in history, where billions were wiped out across major crypto exchanges, Solana Decentralized Perpetual Exchanges (perp DEXs) have reached an unprecedented milestone. 

In another post on X, SolanaFloor reported that the blockchain’s perp DEXs recorded their highest-ever trading volume, which is situated at over $4.49 billion. The notable expansion points to a developing DeFi ecosystem on SOL, driven by minimal costs, lightning-fast transactions, and growing institutional involvement.

According to the report from SolanaFloor, the Jupiter Exchange, with a volume of $2.34 billion, was at the forefront of this surge in perp DEXs. This surge comes as traders rushed to reposition themselves during extreme market volatility.

During last night’s massive liquidation event, SOL DEXs also processed a substantial wave of trading volume. SolanaFloor revealed that a total of more than $8 billion in processed trading volume, with Orca leading the charge. With $2.49 billion, Orca has taken the number 1 spot in trading volume. Furthermore, a combination of four SOL DEXs surpassed $1 billion in trading volume over a 24-hour period.

SOL trading at $196 on the 1D chart | Source: SOLUSDT on Tradingview.com
Featured image from Adobe Stock, chart from Tradingview.com

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Analysts at Bitfinex see Bitcoin targeting $117K–$120K, but recovery hinges on fresh capital entering the spot market.

Summary

Analysts at Bitfinex report a 2.5x imbalance between sellers and buyers in crypto markets
U.S.–China trade tensions erased $1 trillion from the crypto market
For Bitcoin to recover, fresh capital needs to enter, despite murky fundamentals

After weathering one of the most violent liquidation events in crypto history, Bitcoin could be making a comeback. On Monday, Oct. 13, Bitfinex released a report detailing the crash and outlining a potential recovery. However, the outlook largely depends on spot demand and macro clarity.

BTC rebounded from the largest liquidation event in history by notional value. Sparked by U.S.-China trade tensions, the crash wiped out almost $1 trillion from the crypto market cap in hours, from $4.26 trillion to $3.30 trillion.

Bitcoin price chart, showing the major price drop that led to the liquidation event | Source: Bitfinex Alpha
While Bitcoin (BTC) fell 18.1%, altcoins declined as much as 80%, with some temporarily becoming illiquid. The report notes that a 2.5x imbalance toward sellers created the conditions for the flash crash, contributing to $19 billion in futures liquidations in a single day. Although BTC bounced, further recovery remains uncertain.

Chart depicting Bitcoin liquidations, which reached more than $19 billion in a single day | Source: Bitfinex Alpha
Will Bitcoin recover to $120,000?
According to Bitfinex analysts, the recovery will largely depend on BTC holding key support at $110,000. That would put it in position to retest the $117,000 to $120,000 range. However, additional gains will depend on spot demand and the macro backdrop.

For a full recovery, Bitcoin needs fresh capital inflows to drive spot demand. This will largely depend on macro conditions, which are currently clouded by the lack of economic data due to the U.S. government shutdown.

“For now, the absence of data may be masking underlying fragility. If the shutdown persists, delayed reports on inflation and employment could amplify volatility once they are released. But the market message is clear: liquidity, credit confidence, and the expectation of further easing from the Fed are keeping the economy afloat, even as the lights in Washington remain dim,” wrote analysts at Bitfinex.