Market Signal Briefing

The Ethereum Foundation has launched a new website designed to onboard more institutions by providing clear pathways for businesses to move from traditional finance to the Ethereum ecosystem. 

In an X post on Wednesday, the Ethereum Foundation unveiled “institutions.ethereum.org,“ developed by its Enterprise Acceleration team, with the aim of showcasing the network and helping guide businesses that are adopting Ethereum. 

“Ethereum is the neutral, secure base layer where the world’s financial value is coming onchain. Today, we’re launching a new site for the builders, leaders, and institutions advancing this global movement,” the post reads. 

Ethereum Foundation launches a new resource aimed at courting institutions. Source: Ethereum Foundation 
The website has a simplistic design and showcases institutional use cases such as tokenized Real World Assets (RWAs), stablecoins, decentralized finance (DeFi), privacy tools and layer 2 networks.  

The site also showcases links to data showing that Ethereum hosts 75% of the RWA market share, 65% of all DeFi total value locked (TVL) and 60% of all stablecoin TVL. 

It also highlights major institutions already on the network, accompanied by key examples of their work on Ethereum via onchain data. It points to Visa with its annual $1 billion stablecoin volume, BlockRock’s $1.15 billion worth of tokenized assets under management, and Coinbase’s $15.5 billion TVL via its layer 2, Base. 

There are links to three different sections on the site: “Digital Assets,” which provides an overview of various blockchain sectors, Live Data, and a Library offering “Institutional Insights” from research reports, news articles, and more. 

The launch of the new website marks another push by the Ethereum Foundation to better market the blockchain.

Earlier this year, Ethereum Foundation-backed Etherealize launched to address an apparent lack of institutional education or knowledge about Ethereum. 

Other recent improvements include a new roadmap from the Ethereum Foundation, released in mid-September, outlining plans to introduce end-to-end privacy features to the Ethereum network as part of a rebranding of its “Privacy and Scaling Explorations” initiative to “Privacy Stewards of Ethereum.”

During the same month, the Ethereum Foundation also unveiled a new AI-focused research team, with the goal of developing a strong AI economy of autonomous agents and bots on Ethereum and providing a decentralized AI stack to support developers. 

“Our mission: make Ethereum the preferred settlement and coordination layer for AIs and the machine economy,” noted Ethereum Foundation research scientist, Davide Crapis, via X.

 Magazine: Solana vs Ethereum ETFs, Facebook’s influence on Bitwise: Hunter Horsley

Allison Transmission Holdings, Inc. ( ALSN ) Q3 2025 Earnings Call October 29, 2025 5:00 PM EDT Company Participants Jacalyn Bolles - Executive Director of Treasury & IR David Graziosi - Chairman, President & CEO G. Bohley - Chief Operating Officer Scott Mell - CFO & Treasurer Conference Call Participants Robert Wertheimer - Melius Research LLC Timothy Thein - Raymond James & Associates, Inc., Research Division Ian Zaffino - Oppenheimer & Co. Inc., Research Division Tami Zakaria - JPMorgan Chase & Co, Research Division Angel Castillo Malpica - Morgan Stanley, Research Division Luke Junk - Robert W.

NEW ORLEANS, Oct. 29, 2025 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until December 8, 2025 to file lead plaintiff applications in a securities class action lawsuit against Marex Group plc (“Marex” or the “Company”) (NasdaqGS: MRX), if they purchased or otherwise acquired the Company’s securities between May 16, 2024 and August 5, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.

Get Help

Marex investors should visit us at https://claimsfiler.com/cases/nasdaq-mrx/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

Marex and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On August 5, 2025, NINGI Research reported numerous allegations about the Company including, among other things, that it “has engaged in a multi-year accounting scheme involving a web of opaque off-balance-sheet entities, fictitious intercompany transactions, and misleading disclosures to conceal significant losses, inflate profits, and mask its true risk exposure” and that it has “numerous multi-million-dollar discrepancies in intercompany receivables and loans across Marex’s sprawling network of 56+ entities.” The report further identified “a $17 million receivable created out of thin air, a subsidiary whose reported profit was inflated by 150% in group filings before being liquidated, and an asset valued at $14.9 million that was sold to Robinhood for just $2.5 million weeks later, with no reported loss” and that the Company concealed nearly $1 billion in off-balance-sheet derivatives exposure through a Luxembourg fund it both controls and trades with, and that it is using the fund to generate non-cash trading profits and inflate operating cash flow by misclassifying structured note issuance as income.

On this news, the price of Marex’s shares fell $2.33, or 6.2%, to close at $35.31 per share on August 5, 2025, on unusually heavy trading volume.

The case is Narayanan v. Marex Group PLC, et al., No. 25-cv-08393.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

By Reuters

October 30, 20252:15 AM UTCUpdated ago

Item 1 of 2 A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, March 25, 2024. REUTERS/Gonzalo Fuentes/File Photo

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Oct 29 (Reuters) - Microsoft said on Wednesday they are investigating an issue in which Microsoft 365 Cloud and Office.com were reported to be inaccessible.

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NEW YORK--(BUSINESS WIRE)--Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (the “Company” or “MindMed”), a late-stage clinical biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced the pricing of an underwritten public offering of 18,375,000 common shares, without par value, at a public offering price of $12.25 per common share. The gross proceeds to MindMed from the offering, before deducting underwriting discounts, commissions, and other offering-related expenses, are expected to be approximately $225 million. In addition, MindMed has granted the underwriters an option for a period of 30 days to purchase up to an additional 2,756,250 common shares at the public offering price, less underwriting discounts and commissions. All of the common shares are being offered by MindMed.

MindMed intends to use the net proceeds from this offering to fund the research and development of its product candidates and working capital and general corporate purposes. MindMed may also use a portion of the net proceeds to invest in or acquire additional businesses or compounds that it believes are complementary to its own, although it has no current plans, commitments or agreements with respect to any future acquisitions as of the date of this press release.

Jefferies LLC, Leerink Partners and Evercore ISI are acting as the joint bookrunning managers for the offering. Oppenheimer & Co. and LifeSci Capital are acting as lead managers. The offering is expected to close on or about October 31, 2025, subject to the satisfaction of customary closing conditions. No distribution under the offering shall occur in Canada or to a person resident in Canada.

The securities in the offering are being offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-280548) that was filed with the Securities and Exchange Commission (“SEC”) on June 28, 2024 and became effective upon filing. The securities will be offered by means of a prospectus supplement and accompanying prospectus relating to the offering that form a part of the shelf registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and SEDAR+ and are available on the SEC’s website at www.sec.gov and on SEDAR+’s website at www.sedarplus.ca. A final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and SEDAR+ and, when filed, will also be available on the SEC’s website and SEDAR+’s website. Alternatively, copies of the final prospectus and the accompanying prospectus relating to the offering may be obtained, when available, by contacting the following: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at [email protected]; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About MindMed

MindMed is a late-stage clinical biopharmaceutical company developing novel product candidates to treat brain health disorders. Our mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. We are developing a pipeline of innovative product candidates targeting neurotransmitter pathways that play key roles in brain health.

MindMed trades on NASDAQ under the symbol MNMD.

Forward-Looking Statements

Certain statements in this press release related to the Company constitute “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and is therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “will,” “may,” “should,” “could,” “intend,” “estimate,” “plan,” “anticipate,” “expect,” “believe,” “potential” or “continue,” or the negative thereof or similar variations. Forward-looking information in this press release includes, but is not limited to, statements regarding the filing of the final prospectus supplement and the accompanying prospectus relating to the offering; anticipated closing of the offering; gross proceeds; and intended use of proceeds. There can be no assurance that this offering will close and the Company will receive the net proceeds therefrom. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including satisfaction of the customary closing conditions for the offering. These forward-looking statements are based on our current expectations, estimates, forecasts and projections about the offering, our business and the industry in which we operate and management’s beliefs and assumptions, including the satisfaction of all customary closing conditions and the non-occurrence of the risks and uncertainties that are described in our filings made with the SEC and the applicable Canadian securities regulators or other events occurring outside of our normal course of business, and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

More News From Mind Medicine (MindMed) Inc.

Udemy, Inc. (UDMY) Q3 2025 Earnings Call October 29, 2025 5:00 PM EDT

Company Participants

Dennis Walsh - Vice President of Investor Relations
Hugo Sarrazin - CEO, President & Director
Sarah Blanchard - Chief Financial Officer

Conference Call Participants

Ryan MacDonald - Needham & Company, LLC, Research Division
Yi Lee - Cantor Fitzgerald & Co., Research Division
Josh Baer - Morgan Stanley, Research Division
Stephen Sheldon - William Blair & Company L.L.C., Research Division
Jason Tilchen - Canaccord Genuity Corp., Research Division
Nafeesa Gupta - BofA Securities, Research Division
Devin Au - KeyBanc Capital Markets Inc., Research Division

Presentation

Operator

Good day, and welcome to Udemy's Third Quarter 2025 Earnings Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Dennis Walsh, Vice President, Investor Relations. Please go ahead.

Dennis Walsh
Vice President of Investor Relations

Thank you. Joining me today are Udemy's Chief Executive Officer, Hugo Sarrazin; and Chief Financial Officer, Sarah Blanchard.

During this conference call, we will make forward-looking statements within the meaning of federal securities laws. These statements involve assumptions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated. For a complete discussion of risks associated with these forward-looking statements, we encourage you to refer to our most recent Form 10-K and 10-Q filings with the Securities and Exchange Commission. Our forward-looking statements are based upon information currently available to us. We caution you to not place undue reliance on forward-looking statements, and we do not undertake and expressly disclaim any duty or obligation to update or alter our forward-looking statements, except as required by applicable law.

During this call, certain financial performance measures may be discussed that differ from comparable measures contained in our financial statements, which are prepared

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Vanda Pharmaceuticals Inc. (VNDA) Q3 2025 Earnings Call October 29, 2025 4:30 PM EDT

Company Participants

Kevin Moran - Senior VP, CFO & Treasurer
Mihael Polymeropoulos - Founder, President, CEO & Chairman of The Board

Conference Call Participants

Raghuram Selvaraju - H.C. Wainwright & Co, LLC, Research Division
Olivia Brayer - Cantor Fitzgerald & Co., Research Division

Presentation

Operator

Hello, and thank you for standing by. My name is Mark, and I will be your conference operator today. At this time, I would like to welcome everyone to the Q3 2025 Vanda Pharmaceuticals Inc. earnings conference call. [Operator Instructions]

Now I would like to turn the call over to Kevin Moran, Vanda's Chief Financial Officer. Please go ahead.

Kevin Moran
Senior VP, CFO & Treasurer

Thank you, Mark. Good afternoon, and thank you for joining us to discuss Vanda Pharmaceuticals' third quarter 2025 performance. Our third quarter 2025 results were released this afternoon and are available on the SEC's EDGAR system and on our website, www.vandapharma.com. In addition, we are providing live and archived versions of this conference call on our website.

Joining me on today's call is Dr. Mihael Polymeropoulos, our President, Chief Executive Officer, and Chairman of the Board; and Tim Williams, our General Counsel. Following my introductory remarks, Mihael will update you on our ongoing activities. I will then comment on our financial results before we open the lines for your questions.

Before we proceed, I would like to remind everyone that various statements that we make on this call will be forward-looking statements within the meaning of federal securities laws. Our forward-looking statements are based upon current expectations and assumptions that involve risks, changes in circumstances and uncertainties. These risks are described in the cautionary note regarding forward-looking statements, risk factors, and management's discussion and analysis of financial condition and results of

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Meta shares fell nearly 9% in after-hours trading.

Carlos Barria/REUTERS

2025-10-30T02:29:55Z

Meta reported Q3 earnings on Wednesday as shares fell nearly 9% in after-hours trading.
Meta's huge Q3 tax bill and EPS that missed expectations weighed down shares.
AI is enhancing engagement across Meta's social media platforms and driving targeted advertisements.

Meta's third-quarter earnings report did not land well with investors.

In after-hours trading, Meta shares tumbled nearly 9% on Wednesday during the investor call.

Meta beat Wall Street estimates with a reported revenue of $51.24 billion. However, a $15.9 billion tax charge, an earnings per share that missed expectations, and some concerns over whether Meta's huge investments in AI will translate to profit, weighed down the company's shares.

From Meta's burgeoning capital expenditure to what is driving revenue for the company, here are the biggest takeaways from the social media giant's call with analysts.

1. The cost of 'novel capabilities'Meta CEO Mark Zuckerberg and CFO Susan Li spent a good part of the call discussing the company's soaring AI infrastructure spending.

Meta now expects to spend between $70 billion and $72 billion on infrastructure this year, and also expects expenditure growth in 2026 to be "notably larger" than in 2025 as AI workloads continue to rise.

Li said during the call that Meta plans to "invest aggressively" in both its own data centers and third-party cloud capacity, with infrastructure costs putting "upward pressure" on capital expenditures.

"In the very worst case," Zuckerberg said, Meta would have simply "pre-built for a couple of years," absorbing the extra costs through depreciation while it grows into the added capacity. The greater danger, he said, is "underinvesting" in computing.

"We're really trying to build novel capabilities," said Zuckerberg. "This is not like a check-the-box exercise."

Employee pay is also climbing. Li said compensation will be the second-largest contributor to expense growth in 2026, reflecting a full year of salaries for AI specialists hired in 2025 and new technical recruits in "priority areas."

"Compute and talent are where we're leaning in hardest," Li said. "That's what's going to drive Meta's AI advantage."

2. Reality Lab woesMeta's Reality Labs is still bleeding billions, though losses have narrowed slightly from the previous quarter.

The unit, which houses Meta's virtual reality hardware, AI-powered devices, and metaverse initiatives, reported $470 million in revenue and an operating loss of $4.43 billion for the quarter, compared with a $4.53 billion loss in the second quarter.

Li said Reality Labs' revenue got a temporary boost as retailers stocked up on Quest headsets ahead of the holiday season. But she acknowledged "headwinds" to the Quest headsets this year, since Meta hasn't released a new model.

"We're still expecting significant year-over-year growth in AI Glasses revenue in Q4 as we benefit from strong demand for the recent products that we've introduced," said Li, "But that is more than offset by the headwinds to the Quest headsets."

3. Addressing the tax chargeMeta took a massive $15.9 billion one-time tax charge this quarter, tied to changes under President Donald Trump's One Big Beautiful Bill Act, which passed in July.

The company said the new tax law's implementation allowed for a "valuation allowance against our US federal deferred tax assets," resulting in a one-time, non-cash income tax expense.

Li said that despite the hefty charge, Meta expects its overall tax burden to drop going forward. The company anticipates a "significant reduction" in federal cash tax payments thanks to provisions in the new legislation.

According to Li, without the one-off charge, Meta's effective tax rate would have fallen from 87% to 14%. Li said the adjustment "positions us favorably from a cash tax standpoint" as Meta continues its heavy investments in AI infrastructure and data centers.

4. AI is booting engagementZuckerberg said AI is paying off across the company's core apps as well as for advertisements.

Zuckerberg told investors that AI-powered recommendation systems have increased time spent on Facebook by 5%, on Threads by 10%, and boosted video viewing on Instagram by more than 30% over the past year.

"As video continues to grow across our Apps, Reels now has an annual run rate of over $50 billion," said Zuckerberg. "Improvements in our recommendation systems will also become even more leveraged as the volume of AI-created content grows."

Li added that Meta's generative AI features for advertisers, including AI-generated music, are also "driving increased performance" and are expected to be able to offset losses generated by Reality Labs.

Whether the profit AI generates in these areas could offset Meta's planned capex spending remains to be seen.

5. AI glasses are a hot commodityAhead of the call, some analysts had been skeptical about whether the AI-glasses hype would translate to sales. Forrester VP and research director Mike Proulx told Business Insider that while early adoption of Meta's glasses will likely be driven by "tech-curious" consumers, demos may still "far outpace actual purchases."

On the call, however, Zuckerberg said the company's AI-powered glasses could become a "very profitable investment" as sales of its new line surge.

During the call, Zuckerberg told analysts that Meta's collaborations with Ray-Ban and Oakley are "going very well" and that revenue will come not just from device sales but also from the services layered on top of them.

Zuckerberg said the AI capabilities built into the glasses will soon become "the main thing people are using them for," and that Meta's new Ray-Ban Displays sold out in "almost every store" within 48 hours, with demo appointments booked through the end of next month.

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Energy Vault Holdings, Inc. (NRGV) Analyst/Investor Day October 29, 2025 1:00 PM EDT

Company Participants

Laurence Alexander - Chief Marketing Officer & Chief of Staff
Robert Piconi - Co-Founder, Chairman & CEO
Matthew Brezina
Marco Terruzzin - Chief Revenue Officer
Michael Beer - CFO & Head of Corporate Services

Conference Call Participants

Chris Leary

Conversation

Laurence Alexander
Chief Marketing Officer & Chief of Staff

Hello, and welcome to Energy Vault's 2025 Virtual Investor and Analyst Day Webcast. We appreciate you joining us today as we provide an in-depth look at our strategy, business performance and growth trajectories.

Our focus today is on the continuing evolution of Energy Vault as an integrated energy storage IPP and the introduction of Asset Vault, our new investment platform designed to accelerate deployment and value creation in the energy transition.

As a reminder, Energy Vault's presentation is available now on our investor website, and we will be referring to the presentation during this call. A replay of this webcast will be available later today on the Investor Relations portion of our website. This call is now being recorded. If you object in any way, please disconnect now.

Please note that Energy Vault's presentation and this call contain forward-looking statements that are subject to risks and uncertainties. These forward-looking statements are only estimates and may differ materially from the actual future events or results due to a variety of factors. Please refer to our most recent 10-K or 10-Q filing or Slide 2 in our deck for a list of factors that cause our results to differ from those anticipated in any forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, except as required by law. In addition, please note that we will be presenting and discussing certain non-GAAP information. Please refer to the safe harbor disclaimer and non-GAAP financial measures

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GUADALAJARA, Mexico, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) reports that following the passage of Hurricane Melissa over Jamaica, Kingston Airport resumed operations today at 4:00 p.m.

Pitney Bowes Inc. (PBI) Q3 2025 Earnings Call October 29, 2025 5:00 PM EDT

Company Participants

Alex Brown
Kurt Wolf - CEO & Director
Paul Evans - Executive VP, CFO & Treasurer

Conference Call Participants

Kartik Mehta - Northcoast Research Partners, LLC
Matthew Swope - Robert W. Baird & Co. Incorporated, Research Division
Anthony Lebiedzinski - Sidoti & Company, LLC
Justin Dopierala - Domo Capital Management, Llc

Presentation

Kurt Wolf
CEO & Director

"

Paul Evans
Executive VP, CFO & Treasurer

"

Kartik Mehta
Northcoast Research Partners, LLC

" Northcoast Research Partners, LLC

Matthew Swope
Robert W. Baird & Co. Incorporated, Research Division

" Robert W. Baird & Co. Incorporated, Research Division

Anthony Lebiedzinski
Sidoti & Company, LLC

" Sidoti & Company, LLC

Justin Dopierala
Domo Capital Management, Llc

" Domo Capital Management, Llc

Operator

Hello, and welcome to the Third Quarter 2025 Pitney Bowes, Inc. Earnings Conference Call. Joining us today are Chief Executive Officer, Kurt Wolf; Chief Financial Officer, Paul Evans; and Director, Investor Relations, Alex Brown. [Operator Instructions].

Please be advised that today's conference is being recorded. It is now my pleasure to turn the call over to Director, Investor Relations, Alex Brown.

Alex Brown

Good afternoon, and thank you for joining us. Included in today's presentation are forward-looking statements about future business and financial performance. Forward-looking statements involve risks, along with uncertainties that could cause actual results to be materially different from our projections. More information about these items can be found in our earnings press release, our 2024 Form 10-K and other reports filed with the SEC that are located on our website at www.pb.com and by clicking on Investor Relations. Please keep in mind that we do not undertake any obligation to update forward-looking statements as a result of new information or

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October 29, 2025 22:50 ET

 | Source:

Wave Life Sciences USA, Inc.

This press release corrects and replaces the company’s press release issued today, 10/29, at 4:15 p.m. ET in order to correct a typographical error in the first sub-bullet under “WVE-007 (GalNAc-siRNA)” – “Next steps.”

Dose-dependent mean reductions of Activin E of up to 85% one month post single dose of WVE-007 in INLIGHT clinical trial, exceeding levels that led to weight loss in preclinical models; WVE-007 is generally safe and well tolerated to date

Activin E reduction in lowest dose cohort of INLIGHT was sustained through 6 months, supporting once or twice a year dosing

Multiple clinical data updates from INLIGHT, including body composition and body weight, are anticipated starting in 4Q 2025

Additional updates included announcement of WVE-008, PNPLA3 RNA editing candidate for liver disease, with CTA submission anticipated in 2026

Preclinical data supports Wave’s emerging pipeline of hepatic and extra-hepatic RNA editing and siRNA programs; emerging modality adds capability to simultaneously edit and silence two unique targets with a single oligonucleotide construct

CAMBRIDGE, Mass., Oct. 29, 2025 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (Nasdaq: WVE), a clinical-stage biotechnology company focused on unlocking the broad potential of RNA medicines to transform human health, today announced Activin E target engagement data from its INLIGHT clinical trial of WVE-007, a GalNAc-siRNA, for the treatment of obesity during the company’s annual analyst and investor Research Day.

“We are incredibly excited to be observing potent, durable, and dose-dependent Activin E reductions with just single doses of WVE-007 in the first three cohorts of our INLIGHT clinical trial for obesity. This indicates our preclinical data are translating and affirms we have a potential best-in-class RNAi modality enabled by our proprietary chemistry, including PN,” said Paul Bolno, MD, MBA, President and Chief Executive Officer of Wave Life Sciences. “We also continue to lead the field in RNA editing. With the successful clinical translation of WVE-006 for AATD, we are further expanding our editing pipeline and have now selected WVE-008 as our PNPLA3 RNA editing clinical candidate for liver disease. WVE-008 is on track to enter clinical development next year with the filing of a CTA. In addition to that, we are pioneering a new modality by uniting editing and silencing in a single oligonucleotide construct. With multiple planned clinical updates across our RNA editing and RNAi programs, Wave is in a unique position to unlock tremendous value from our robust RNA medicines pipeline.”

INLIGHT clinical study and target engagement update:

WVE-007 (GalNAc-siRNA): INHBE silencing approach designed to reduce fat while preserving muscle mass

Wave’s INHBE program has a strong foundation in human genetics. People living with naturally low levels of INHBE have lower levels of unhealthy visceral fat, lower fasting glucose and triglycerides, and a lower risk of type 2 diabetes and cardiovascular disease. Silencing INHBE mRNA aims to reduce Activin E levels, thereby inducing fat loss without impacting muscle mass.In Wave’s preclinical studies of mice with diet-induced obesity (DIO), single doses of GalNAc INHBE-siRNA led to potent and durable Activin E reductions of greater than 70%, and weight loss driven by reduction in visceral fat, without affecting muscle mass. Preclinical studies also support the use of INHBE GalNAc-siRNA as an add-on to GLP-1s or to curtail weight regain following cessation of GLP-1s. These reduced Activin E levels led to adipocyte shrinkage, fewer pro-inflammatory macrophages, less fibrosis, and improved insulin sensitivity in visceral adipose tissue, linking increased lipolysis to lower cardiometabolic risk.Today, Wave announced highly significant, dose-dependent Activin E reductions were observed in the first three cohorts of its ongoing INLIGHT clinical trial evaluating WVE-007 (3:1 active: placebo). The trial is designed to address safety and tolerability as well as target engagement (Activin E reduction). One-month follow-up was available from Cohort 2 (240 mg) and Cohort 3 (400 mg), and six-month follow-up from Cohort 1.At day 29 (one month post single dose), mean Activin E reductions from baseline were all highly significant (p<0.0001 for all doses): Cohort 3 (400 mg): 85% reductionCohort 2 (240 mg): 75% reductionCohort 1 (75 mg): 56% reduction The one-month reductions of Activin E observed in the 240 mg and 400 mg cohorts exceed levels that led to fat loss in preclinical models.In Cohort 1 (75 mg), Activin E reductions were durable throughout the 6-month follow-up, supporting WVE-007’s potential for once or twice yearly doing.WVE-007 is safe and well tolerated to date. An independent data monitoring committee supported dose expansion of the 600 mg cohort and dose escalation beyond that.WVE-007 aims to achieve fat loss on par with semaglutide by six months of follow up post-single WVE-007 dose.Next steps: Wave expects to deliver multiple clinical data updates from INLIGHT, including body composition and body weight: 4Q 2025: anticipated three-month follow-up data from the expanded Cohort 2 (240 mg), as well as data from Cohort 1 (75 mg).1Q 2026: anticipated six-month follow-up data from Cohort 2 and three-month follow-up data from Cohort 3.2Q 2026: anticipated six-month follow-up data from Cohort 3 and three-month follow-up data from Cohort 4. Additional details can be found in the company’s Research Day presentation.

Additional updates from today’s presentation:

WVE-006 (RNA Editing): potential first- and best-in-class therapy for AATD that addresses both lung and liver manifestations of the disease

The ongoing Phase 1b/2a RestorAATion-2 study is evaluating WVE-006, a GalNAc-conjugated RNA editing oligonucleotide, as a treatment for alpha-1 antitrypsin deficiency (AATD). The multidose portion of Cohort 2 is currently ongoing with monthly doses of 400 mg. Today, Wave announced Cohort 3 is now underway at doses of 600 mg of WVE-006.In September 2025, Wave announced WVE-006 has already achieved key treatment goals by restoring protein levels associated with lower risk of AATD liver and lung diseases. Total AAT levels reached 13 µM, wild-type M-AAT protein accounted for 64% of circulating total AAT after treatment, with a corresponding reduction in Z-AAT. Notably, WVE-006 restored the ability to dynamically produce therapeutically relevant levels of AAT protein during an acute phase response, with an individual reaching over 20 µM AAT protein.Next steps: 400 mg multidose cohort data expected in the first quarter of 2026; 600 mg single dosing is underway in the third and final cohort, with single and multi-dose data expected in 2026. WVE-008 (RNA Editing): potential first-in-class, disease modifying therapy for PNPLA3-I148M liver disease

Building on the successful clinical translation of Wave’s RNA editing capability, the company has selected WVE-008 as its clinical candidate for PNPLA3-I148M liver disease.There are an estimated 9 million homozygous PNPLA3-I148M individuals with liver disease in the U.S. and Europe. These homozygous carriers have a significantly higher risk of liver-related death compared to heterozygous carriers. Wave’s RNA editing approach aims to achieve at least 50% correction to restore the heterozygous phenotype with low risk of liver disease, similar to the approach with WVE-006.Next steps: Wave expects to file a Clinical Trial Application (CTA) for WVE-008 in 2026. Wave’s platform innovations: extra-hepatic delivery and an emerging new modality

Through chemistry optimization tailored to target and cell type, Wave is expanding its emerging pipeline of siRNAs (SpiNAs) and RNA editing oligonucleotides (AIMers) to both hepatic and extrahepatic tissues, including skeletal muscle, heart, adipose, and kidney.Emerging modality adds capability to simultaneously edit and silence two unique targets with a single oligonucleotide construct. Wave presented preclinical data demonstrating that a single GalNAc-oligonucleotide construct upregulated LDLR protein and silenced PCSK9 mRNA. An archived webcast of the event can be accessed by visiting “Investor Events” on the investor relations section of the Wave Life Sciences website: https://ir.wavelifesciences.com/events-publications/events.

About Wave Life Sciences
Wave Life Sciences (Nasdaq: WVE) is a biotechnology company focused on unlocking the broad potential of RNA medicines to transform human health. Wave’s RNA medicines platform, PRISM®, combines multiple modalities, chemistry innovation and deep insights in human genetics to deliver scientific breakthroughs that treat both rare and common disorders. Its toolkit of RNA-targeting modalities includes editing, splicing, RNA interference and antisense silencing, providing Wave with unmatched capabilities for designing and sustainably delivering candidates that optimally address disease biology. Wave’s diversified pipeline includes clinical programs in alpha-1 antitrypsin deficiency, obesity, Duchenne muscular dystrophy, and Huntington’s disease, as well as several preclinical programs utilizing the company’s broad RNA therapeutics toolkit. Driven by the calling to “Reimagine Possible,” Wave is leading the charge toward a world in which human potential is no longer hindered by the burden of disease. Wave is headquartered in Cambridge, MA. For more information on Wave’s science, pipeline and people, please visit www.wavelifesciences.com and follow Wave on X and LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements concerning our goals, beliefs, expectations, strategies, objectives and plans, and other statements that are not necessarily based on historical facts, including statements regarding the following, among others: the anticipated initiation, site activation, patient recruitment, patient enrollment, dosing, generation and reporting of data and completion of our clinical trials, including interactions with regulators and any potential registration based on these data, and the timing and announcement of such events; our understanding of the dose levels and dosing frequency of our therapeutic candidates; our understanding of the safety profile of our therapeutic candidates; our expectations for our clinical candidates and the anticipated therapeutic benefits thereof; the potential of WVE-007’s mechanism (INHBE) as a novel and unique obesity treatment to induce fat loss, preserve muscle, and drive weight loss; the anticipated therapeutic benefits of WVE-006 as a therapy for AATD and the potential to address both lung and liver manifestations of the disease; our understanding of the anticipated therapeutic benefits of WVE-008 as a therapy for PNPLA3-I148M liver disease; regulatory submissions and timing for regulatory feedback; the protocol, design and endpoints of our clinical trials; the future performance and results of our programs in clinical trials; our expectations with respect to how our preclinical and clinical data successes to date may predict success for our future therapeutic candidates, future clinical data readouts and further validate of our platform; the potential of our preclinical data to predict the behavior of our compounds in humans; our identification and expected timing of future product candidates and clinical-stage programs and their therapeutic potential; the anticipated benefits of our therapeutic candidates and pipeline compared to our competitors; patient population estimates related to our therapeutic candidates and the potential addressable market that our therapeutics may address; our ability to design compounds using various modalities and the anticipated benefits of that approach; the breadth and versatility of our PRISM drug discovery and development platform; the expected benefits of our stereopure oligonucleotides compared with stereorandom oligonucleotides; the potential benefits of our RNA editing capability, including our AIMers, compared to others; the potential benefits of our emerging pipeline of siRNAs (SpiNAs) compared to others; the benefits of RNA medicines generally; the potential for certain of our programs to be best-in-class or first-in-class; our ability to translate genetic insights into high impact medicines; the status and progress of our programs relative to potential competitors; the progress and potential benefits of our collaborations; our expectations on the company’s future growth; and the anticipated duration of our cash runway and our ability to fund future operations. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual results to differ materially from those indicated by these forward-looking statements as a result of these risks, uncertainties and important factors, including, without limitation, the risks and uncertainties described in the section entitled “Risk Factors” in Wave’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC), as amended, and in other filings Wave makes with the SEC from time to time. Wave undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

Contact:
Kate Rausch
VP, Corporate Affairs and Investor Relations
+1 617-949-4827

Investors:
James Salierno
Director, Investor Relations
+1 617-949-4043
[email protected]

Media:
Katie Sullivan
Senior Director, Corporate Communications
+1 617-949-2936
[email protected]

BridgeBio Pharma, Inc. (BBIO) Q3 2025 Earnings Call October 29, 2025 4:30 PM EDT

Company Participants

Chinmay Shukla
Neil Kumar - Co-Founder, CEO & Director
Matthew Outten - Chief Commercial Officer
Thomas Trimarchi - CFO & President

Conference Call Participants

Salim Syed - Mizuho Securities USA LLC, Research Division
Tyler Van Buren - TD Cowen, Research Division
Biren Amin - Piper Sandler & Co., Research Division
Joshua Schimmer - Cantor Fitzgerald & Co., Research Division
Cory Kasimov - Evercore ISI Institutional Equities, Research Division
Anupam Rama - JPMorgan Chase & Co, Research Division
Lin Tsai - Jefferies LLC, Research Division
Danielle Brill Bongero - Truist Securities, Inc., Research Division
Jason Zemansky - BofA Securities, Research Division
Kyuwon Choi - Goldman Sachs Group, Inc., Research Division
Trevor Allred - Oppenheimer & Co. Inc., Research Division

Presentation

Operator

Good afternoon. I will be your conference operator today. [Operator Instructions] Before we begin, I would like to remind everyone that today's call may contain forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements about BridgeBio's future operating and financial performance, business plans and prospects and strategy.

These statements are based on current expectations and assumptions that are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied in these forward-looking statements. For a discussion of these risks and uncertainties, please refer to the disclosure in today's earnings release and BridgeBio's periodic reports and SEC filings. All statements made here are based on information available to BridgeBio as of today, and the company undertakes no obligation to update any forward-looking statements made during this call, except as required by law. With that completed, BridgeBio, you may begin your conference.

Chinmay Shukla

Good afternoon, everyone, and thank you for joining BridgeBio Pharma's Third Quarter 2025 Earnings Call. I'm Chinmay Shukla, Senior Vice President of

Recommended For You

Journalist

Posted: October 30, 2025

Key Takeaways
Why did Solana’s price drop after the Bitwise ETF launch?
Despite $69M in inflows, traders took profits, triggering a 5% dip in SOL’s price.

What’s the main risk with the new Solana ETF?
Bitwise plans to stake all SOL in the fund, which could tighten liquidity during large redemptions.

Solana [SOL] didn’t waste time flipping the script.

Hours after the long-awaited Bitwise Solana Staking ETF [BSOL] went live, the token slipped; a classic case of “buy the rumor, sell the news.”

Is this dip simply a pause, or the start of a bigger cooldown?

Inflows strong, but redemption risks emerge
BSOL made a solid entrance yesterday, attracting $69.45 million in first-day inflows and bringing total assets to $289 million; roughly 0.27% of Solana’s market cap.

Source: X

While the launch shows Solana’s strong investor appeal, ETF expert Nate Geraci flagged a structural risk. Bitwise plans to stake 100% of the SOL held in the fund, so liquidity could tighten during large redemptions.

Source: X

According to Bitwise’s filing, if unstaking delays occur, the trust may exchange “Moderately Liquid Solana” (pending cooldown) for “Highly Liquid Solana” via third-party trades.

This is a process that could slightly reduce the fund’s NAV during high-redemption periods.

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Ethereum seems to be having difficulty holding onto the $4,000 mark, and recent price movement suggests a possible double top formation, which could be problematic for bulls. ETH has once again been rejected near $4,200, following a promising attempt to regain lost ground earlier this month, indicating that upward momentum may be rapidly waning.

Ethereum’s structure is starting to resemble a double top on the daily chart, with one peak formed in mid-October and another formed more recently. Traditionally, this pattern has been interpreted as a bearish reversal signal, especially when combined with decreasing relative strength and trading volume. This story is supported by the RSI’s 47-point range, which shows neutral-to-bearish momentum and minimal signs of significant buying interest.

ETH/USDT Chart by TradingViewThe 50-day and 100-day EMAs, which both converge just above the current price, present significant technical resistance for ETH. Bullish attempts to break higher are consistently capped by this cluster, which is functioning as a significant ceiling. The 200-day EMA, around $3,600, is still the final line of defense before the market structure turns sharply negative.

HOT Stories

The next downward targets for Ethereum are $3,800 and $3,600, if it is unable to maintain a hold above $3,950-$4,000. A clear break below the latter might intensify selling pressure and possibly validate a more extensive downward trend that lasts into November.

The general mood does not help either; Ethereum is unlikely to survive unharmed as Bitcoin consolidates under pressure from liquidation clusters and general macro uncertainty. ETH is susceptible to an abrupt correction because of the market’s dwindling enthusiasm and low volume, which indicate that traders are adopting a wait-and-see attitude.

Shiba Inu close to losing againShiba Inu is flirting with danger once more, as its price action points to a possible continuation of the downward trend, which could result in an additional zero being added to its valuation. A faltering market is indicated by the meme token’s recent price movement, which has been marked by weak momentum, low trading volume and ongoing resistance from important moving averages.

At the moment, SHIB is trading at $0.0000102, barely above a thin ascending support line that prevents further declines. However, because the asset is still stuck below a group of significant exponential moving averages, this shaky uptrend lacks conviction. The green, orange and black lines, which stand for the 50-, 100- and 200-day EMAs, respectively, continue to function as strong resistance levels, effectively stifling any bullish attempts.

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The overall trend is still categorically negative from a structural standpoint. SHIB has consistently formed a series of lower highs since peaking near $0.000015 in early September, indicating that sellers are in firm control. In the meantime, the RSI at 40 indicates mild oversold conditions, but it does not really show that buying strength will resume anytime soon. To put it another way, there is not a visible catalyst that could stop this decline.

SHIB has not produced significant inflows or drawn speculative volume — both of which are necessary for a token that mainly depends on retail hype, despite a brief stabilization phase. The next logical stop could be $0.000008, which would essentially add another zero to the price if the present support level around $0.0000095 fails to hold.

For the time being, the market is clearly communicating that sentiment is low and that Shiba Inu’s chances of recovering seem bleak in the absence of a strong fundamental or speculative driver. If buyers do not intervene decisively, SHIB’s next chapter may be characterized by yet another agonizing zero.

Bitcoin strugglingAs momentum wanes and market inflows stop, Bitcoin is still struggling close to the $115,000 mark, which is turning out to be nearly unbreakable. BTC has been consistently rejected despite multiple attempts to regain ground above this crucial resistance, indicating that buyers may be losing steam.

Bitcoin has not shown any clear strength in either direction over the last week, remaining between $112,000 and $115,000. Technically speaking, the structure is starting to level out, which is indicative of declining trading volume and indecision. The 200-day MA is currently lower, near $108,000, providing the only remaining clear support zone, while the 50-day and 100-day moving averages are pushing down on the price.

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The lack of significant inflows into Bitcoin is concerning. Both exchange and on-chain data show that the amount of new capital coming into the asset has drastically decreased, indicating that both institutional and individual investors are being cautious. The market lacks the liquidity required to overcome strong resistance levels such as $115,000, where sizable clusters of sell orders are concentrated in the absence of new demand.

The Relative Strength Index, which shows no indications of significant accumulation or directional conviction, is one momentum indicator that reflects this sentiment. To put it simply, the market seems to be stuck between waning optimism and cautious realism. The likelihood of a deeper retreat toward $110,000 or even $108,000 increases if Bitcoin is unable to demonstrate consistent movement above $115,000.

In essence, that would reset the short-term structure, potentially trapping late buyers who were hoping for a breakout. As of right now, Bitcoin’s $115,000 price cap remains in place. The idea of Bitcoin breaking higher is still more of a wish than a realistic near-term expectation until inflows resume and conviction grows.

Joerg Hiller
Oct 30, 2025 01:08

Sigma Prime's Anchor client, now live on Ethereum's mainnet, introduces client diversity to SSV Network's Distributed Validator Technology, enhancing security and performance for Ethereum staking.

In a significant development for Ethereum's staking infrastructure, the SSV Network has announced that the Anchor client, developed by Sigma Prime, is now operational on the Ethereum mainnet. This marks a pivotal moment for the network as it continues to evolve into a multi-client protocol, similar to Ethereum itself, according to SSV Network.

Advancing Client Diversity in SSV Network
The introduction of Anchor, a Rust-based validator client, enhances the SSV Network's Distributed Validator Technology (DVT) by providing a robust architecture and promoting client diversity. This diversity is crucial for minimizing risks associated with a single-client system, which can lead to vulnerabilities if bugs or failures occur. With approximately 14% of Ethereum validators secured by SSV DVT, the addition of a new client strengthens this critical component of Ethereum staking.

Prior to Anchor, the SSV node operated primarily on a single Go implementation. The introduction of Anchor allows for mixed clusters of Anchor and Go SSV, reducing correlated failures and increasing the fault tolerance of Ethereum validators.

Technical Advantages of Anchor
Anchor leverages Rust's memory-safety features and modern concurrency model to offer fewer runtime errors and better predictability. This is expected to result in higher stability for hybrid clusters. Additionally, operators benefit from enhanced observability through built-in metrics compatible with Prometheus and Grafana, along with HTTP APIs and monitoring hooks.

Another advantage of Anchor is its seamless migration path. It uses the same operator key formats as Go-SSV, facilitating easy transitions and hybrid setups with minimal retooling. As SSV technology evolves, Anchor's modular architecture positions it well for adopting future upgrades and features.

Implementing Anchor
For those looking to integrate Anchor into their operations, the process involves several steps, including stopping the existing Go-SSV node, backing up the operator key, and setting up Anchor with the necessary password files. This ensures a smooth transition and prevents conflicts from running dual operator instances.

After migration, operators should verify the node's performance and monitor for any issues. Known migration issues, such as key formatting errors, have been documented and can be resolved through minor adjustments.

Real-world Benefits
For professional node operators and staking services, adopting Anchor can mitigate the risks associated with single-client dependencies. In practice, this means that issues with one client, such as connectivity problems, will not disrupt validator duties in a hybrid cluster. This redundancy ensures continuous operation and reliability, which can be a significant competitive advantage.

As the Ethereum staking landscape continues to grow and evolve, the adoption of client-diverse clusters like those enabled by Anchor can provide operators with greater confidence in their infrastructure's resilience and performance.

Image source: Shutterstock

ethereum
ssv network
anchor client

More than 3.4 million daily users of BNB Chain now have access to over 100 tokenized stocks and ETFs on Wall Street after the latest move from Ondo Global Markets.

Real-world asset tokenization platform Ondo Global Markets has expanded its tokenized product offerings to BNB Chain, enabling access to more than 100 Wall Street stocks and exchange-traded funds to BNB Chain’s user base.

“The integration provides BNB Chain — with its 3.4 million daily active users and expansive DeFi ecosystem — access to over 100 tokenized US stocks and ETFs, supported by leading ecosystem projects such as PancakeSwap,” Ondo said in a statement on Wednesday.

PancakeSwap is BNB Chain’s largest decentralized exchange and will be the primary platform for trading tokenized versions of US stocks and ETFs.

Today, Ondo Global Markets expands to @BNBCHAIN, bringing U.S. markets to millions worldwide.

100+ tokenized stocks & ETFs are now live on one of the world’s most active blockchain ecosystems, supported by @PancakeSwap.

Wall Street, now on BNB Chain. Powered by Ondo. pic.twitter.com/G8l2EUsy8s

— Ondo Finance (@OndoFinance) October 29, 2025
Part of Ondo’s mission is to democratize access to US stocks and ETFs to non-US investors using blockchain tech, particularly those who lack access to Wall Street via brokerage accounts in their countries across Asia and Latin America.

“[Tokenized stocks] turn real-world financial products into blockchain-based assets—making them accessible 24/7, transparent, and efficient,” the team behind BNB Chain said.

Ondo’s solution launched on Ethereum two months agoAlmost two months ago, Ondo Global Markets tokenized US stocks and ETFs on Ethereum, securing over $350 million in total value locked and fueling nearly $670 million in onchain volume.

Ondo has become one of the largest RWA tokenization platforms since its launch in July 2021, tokenizing $1.8 billion worth of assets onchain, according to RWA.xyz.

There are roughly 28,370 holders of Ondo-tokenized financial products.

Kyrgyzstan picks BNB Chain for stablecoin projectMeanwhile, the Kyrgyzstani government chose it to build its stablecoin on BNB Chain last Friday, following the country’s top blockchain committee’s second annual meeting, where it also confirmed plans to roll out a central bank digital currency.

Former Binance CEO Changpeng Zhao was in attendance, noting that Kyrgyzstan would integrate Binance’s education arm, Binance Academy, with 10 of the country’s top-ranking universities and make the Binance app more accessible to its 7.2 million people.

Magazine: Solana vs Ethereum ETFs, Facebook’s influence on Bitwise: Hunter Horsley

XRP is surging back into the spotlight as institutional buying heats up, with a Ripple-backed investment firm nearing $1 billion in holdings—signaling accelerating confidence from deep-pocketed players and a seismic shift in XRP's long-term narrative.

A solid down day in the crypto market turned into a steep plunge after Federal Reserve Chairman Jerome Powell delivered unexpectedly hawkish comments during his post-policy meeting press conference. Powell stated, “A rate cut in December is far from a foregone conclusion,” stunning traders who had priced in a 90% chance of another rate cut at the Fed’s final meeting of the year.

Bitcoin (BTC) reacted instantly, dropping nearly $2,000 to around $109,600, erasing most of its earlier weekly gains. The world’s largest cryptocurrency is now down roughly 5% in the past 24 hours. The broader market followed suit—U.S. stocks shifted from modest gains to losses, the 10-year Treasury yield jumped eight basis points to 4.06%, and the U.S. dollar surged. According to CME’s FedWatch tool, the probability of a December rate cut fell sharply to 69% from 90%.

Earlier, the Fed had cut its benchmark federal funds rate by 25 basis points to 3.75%-4.0%, a move analysts dubbed a “hawkish cut.” Notably, Kansas City Fed President Jeffrey Schmid dissented, favoring no change.

Adding to the uncertainty, the ongoing government shutdown has caused a data blackout, leaving policymakers cautious about signaling future cuts. “The shutdown’s data blackout means subsequent Fed moves are now unpredictable,” said Marcin Kazmierczak, co-founder of RedStone, in an emailed note. “This uncertainty likely means bitcoin and broader crypto volatility through year-end.”

Meanwhile, Paul Howard, director at Wincent, noted that BTC is trying to stabilize within the $110,000–$120,000range. He added that the pullback could present a “short-term accumulation opportunity,” expecting macroeconomic improvements heading into November before potential year-end consolidation.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Chainlink’s native token LINK recovered to $18.40 during Wednesday’s trading session after briefly plunging below the critical $18 support level. The sharp intraday selloff was triggered by a sudden volume spike of 4.59 million tokens, marking a 178% surge above the 24-hour average as sellers temporarily overpowered short-term support. LINK then consolidated between $17.80 and $18.30 before late buying pressure lifted prices, according to CoinDesk Research data.

The rebound came amid broader crypto market stabilization, following Federal Reserve Chair Jerome Powell’sslightly hawkish comments that caused Bitcoin (BTC) to dip below $110,000 before rebounding. LINK has since gained around 4% over the past 24 hours, showing signs of resilience amid volatile market conditions.

Despite recent fluctuations, whale accumulation remains strong, with about $188 million worth of LINK withdrawn from exchanges since early October — a bullish indicator of long-term investor confidence. However, near-term resistance between $18.50 and $18.80 continues to trigger profit-taking, creating uncertainty in the short-term outlook.

Trading volume rose 26% above the seven-day average as traders reacted to volatility. The steepest drop occurred within a 60-minute window when prices fell from $18.03 to $17.96, but fading volume in the final trading hour suggests institutional selling may be slowing.

For traders, maintaining a close watch on the $18 support zone is key. Sustaining this level could pave the way for a move toward $19, while a breakdown below $17.60 might expose further downside to $17.00.

In technical terms, LINK remains in a range-bound consolidation phase, with bulls and bears vying for short-term dominance. A decisive move above $18.50 could reignite bullish sentiment, reinforcing Chainlink’s potential for renewed momentum in the days ahead.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Binance, the world's largest cryptocurrency exchange by trading volume, has announced that it will delist three altcoins — Flamingo (FLM), Kadena (KDA), and Perpetual Protocol (PERP) — as part of its routine review process. The exchange stated that spot trading for these assets will end on November 12, 2025, at 03:00 UTC, marking the beginning of a series of delisting-related changes across its platform.

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Bitcoin (BTC) is attempting to reclaim key resistance levels this week as traders brace for the US Federal Reserve meeting later today—a pivotal event that could set the tone for risk assets heading into November. Market volatility has tightened in recent days, with investors watching whether the Fed will maintain its restrictive policy or hint at easing amid slowing macro indicators.

According to top analyst Darkfost, on-chain data reveals that the BTC Stablecoin Reserve Ratio on Binance is once again flashing a buy signal, a pattern that has historically preceded upward price movements. The signal follows weeks of market turbulence triggered by the October 10th liquidation event, which erased billions in leveraged positions across exchanges. The resulting spillover in the derivatives market also rippled into spot markets, amplifying volatility and testing investor conviction.

While some participants opted to hedge or rotate into stablecoins, others saw the downturn as an accumulation opportunity—a dynamic now reflected in Binance’s shifting reserve ratios. As Bitcoin consolidates around critical levels, traders are positioning for what could be the next significant move, with macro policy and liquidity conditions likely dictating direction.

Bitcoin Indicator Flashes Buy Signal For The Third Time This Cycle
According to on-chain analyst Darkfost, the recent market activity has triggered major shifts within Binance reserves, both in stablecoins and BTC holdings. Amid the post-liquidation recovery, one clear trend has emerged from the noise: the BTC/Stablecoin reserve ratio on Binance is now flashing a buy signal for the third time this cycle—a pattern that has historically preceded strong upward moves in Bitcoin’s price.

Binance Bitcoin/Stablecoin Reserve Ratio | Source: Darkfost
Darkfost notes that this same signal has appeared at critical turning points in the past. In January 2023, Bitcoin rallied from $16,600 to $24,800. The second instance, in March 2023, preceded a surge from $20,300 to $73,000, marking the beginning of a major bullish phase. The most recent occurrence, in March 2025, was followed by another substantial move from $78,600 to $123,500.

This recurring signal reflects a structural change within Binance’s reserves: stablecoin holdings are increasing relative to BTC reserves. In other words, there is a growing amount of stablecoins ready to enter the market while BTC reserves continue to fall. Such a dynamic often creates conditions for a supply shock, where buying demand begins to outpace available supply, setting the stage for a potential bullish reversal.

What makes this setup particularly notable is its context. This pattern usually forms during bear markets or following deep corrections, when accumulation phases begin to rebuild market strength. Seeing it develop now—while Bitcoin consolidates near key support levels—is unusual and suggests that large holders and institutional participants may already be positioning for the next major upward phase.

Bitcoin Faces Resistance As Bulls Attempt To Reclaim Momentum
Bitcoin (BTC) is consolidating around $112,900, showing early signs of recovery after bouncing from its 200-day moving average (red line) near $108,000. The price structure suggests that BTC is attempting to regain bullish momentum but continues to face notable resistance at $117,500, a level that has capped multiple rallies since late August.

BTC testing critical levels | Source: BTCUSDT chart on TradingView
The 50-day (blue) and 100-day (green) moving averages currently converge around $114,000–$115,000, reinforcing this zone as a short-term barrier. A clean break and daily close above this area would confirm renewed buying strength and potentially trigger a move toward $120,000–$123,000, where prior liquidity clusters exist.

On the downside, the 200-day MA remains the critical support to monitor. As long as Bitcoin holds above it, the broader uptrend structure remains intact, despite recent volatility. A close below $108,000, however, could expose BTC to a deeper correction toward $102,500, where the next significant support lies.

Market participants appear cautious ahead of the Federal Reserve meeting this Wednesday, with traders balancing macro uncertainty against improving on-chain metrics. The ongoing consolidation may therefore act as a pre-breakout accumulation phase, with a decisive move likely to follow once policy clarity and liquidity direction are established.

Featured image from ChatGPT, chart from TradingView.com

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance.
Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

Bitcoin’s recent decline from its October peak above $126,000 hasn’t shaken the confidence of Strategy Executive Chairman and co-founder Michael Saylor. Speaking with CNBC at the Money 20/20 fintech conference in Las Vegas, the long-time Bitcoin advocate reiterated his bullish stance, forecasting the leading cryptocurrency will reach $150,000 by the end of 2025.

Saylor pointed to Bitcoin’s maturing market structure and reduced volatility as key drivers of his optimism. “I think Bitcoin is going to continue to grind up,” he said. “Volatility is coming off as the industry becomes more structured with more derivatives and ways to hedge it. Our expectation right now is that by the end of the year it should be about $150,000.”

Bitcoin has surged nearly 54% over the past year, stabilizing above $100,000 and trading around $111,000 on Wednesday. Looking ahead, Saylor envisions an even more dramatic rise, projecting Bitcoin could climb to $1 million per coin within four to eight years. His ultra-long-term outlook suggests an average annual growth of 30% over the next two decades, potentially pushing Bitcoin’s price toward $20 million.

Calling the past year the strongest in crypto history, Saylor credited regulatory clarity and institutional acceptance. He highlighted the White House’s recognition of Bitcoin as digital gold, the SEC’s openness to tokenized equities, and the Treasury’s acceptance of stablecoins.

Saylor reaffirmed Strategy’s commitment to continual accumulation, declaring the firm will “buy the top forever.” Based in Tysons Corner, Virginia, Strategy currently holds over $71 billion in Bitcoin—making it the world’s largest publicly traded Bitcoin treasury.

Despite a 3.26% drop in Strategy (MSTR) shares to $275.36, the company’s stock remains up 11% over the year, mirroring Bitcoin’s broader bullish momentum.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

XRP is accelerating into mainstream finance as institutional demand climbs, regulatory clarity fuels adoption, CME expands crypto derivatives, and major corporations integrate XRP into operations, reinforcing its position as a leading institutional-grade asset.

Key Takeaways
What does the $560B derivatives surge reveal about Ethereum’s market strength?
It shows heightened speculative momentum and strong institutional interest as ETH holds near $4,000.

How are traders positioning themselves amid rising derivatives activity and cooling Open Interest?
Most traders remain bullish, with long positions dominating despite a 4.28% dip in Open Interest.

Ethereum’s [ETH] derivatives trading volume on Binance surged to nearly $560 billion in October, one of the highest levels in history. 

This spike coincided with ETH consolidating near $4,000, signaling intense speculative activity from both institutional and retail traders. 

The increase reflects heightened risk-taking, with more participants leveraging futures and options to capitalize on short-term volatility and potential upside continuation. 

Such massive derivatives expansion often marks a phase of strong momentum and liquidity rotation across the broader Ethereum market ecosystem.

Ethereum defends $3,950 support!
Ethereum continues to hold above its ascending support near $3,950, showing resilience despite recent profit-taking. 

The 4-hour chart reveals a steady uptrend since mid-October, where buyers consistently defended higher lows, keeping the structure intact. 

Key resistance levels remain at $4,259 and $4,756, and a break above the upper barrier could trigger a strong rally toward $4,800. 

However, failure to maintain the ascending trendline could expose ETH to mild corrections. 

Still, the pattern structure shows bullish control as traders maintain confidence in Ethereum’s mid-term momentum.

Source: TradingView

Are traders’ long positions a sign of Ethereum’s next rally?
Data from Binance shows that 70.63% of ETH traders are in long positions, with only 29.37% holding shorts, at press time. 

This clear dominance of bullish accounts reflects strong conviction among leveraged traders. 

Such an imbalance often occurs when sentiment shifts decisively toward upside expectations, supported by improving on-chain and technical structures. 

However, heavy long positioning can also lead to volatility spikes if liquidations accelerate during minor pullbacks. 

Still, the high long/short ratio underscores the market’s optimism as Ethereum consolidates around the $4,000 zone.

Cautious pullback in Open Interest hints at…
Ethereum’s Open Interest (OI) dipped 4.28%, as of writing, indicating that some traders are moderating leverage after the rapid derivatives buildup. 

This short-term adjustment often signals profit-taking or strategic reallocation rather than weakness. 

As volatility rises, disciplined participants typically reduce exposure to manage risk, paving the way for renewed accumulation once stability returns. 

Moreover, sustained liquidity around current price levels suggests that capital remains engaged, aligning with the broader bullish framework observed across derivatives and spot markets.

Conclusively, Ethereum’s market activity shows strength but also signs of caution.

The record $560 billion derivatives volume reflects heightened speculative demand, yet the 4.28% dip in OI indicates traders are trimming leverage rather than expanding it.

Despite the dominance of long positions and firm support near $3,950, this imbalance could trigger volatility if liquidation pressure increases.

Therefore, Ethereum’s bullish outlook remains valid only if fresh capital inflows sustain the rally beyond $4,756, supported by steady OI recovery.