TL;DR: Pontoro and Archax have announced the launch of an Automated Liquidity Pool on Stellar during Meridian 2026. The strongest market lesson is to separate token supply from genuine tradable liquidity.
Pontoro and Archax have announced the launch of an Automated Liquidity Pool on Stellar during Meridian 2026. Their pilot combines liquid money-market assets with private-market fund exposure in a structure that uses predefined pricing and allocation rules to manage liquidity. Archax supplies regulated tokenization and issuance of permissioned interests, while Pontoro provides the model and operating infrastructure. The aim is to make private-asset exposure easier to distribute and manage, not to turn every illiquid holding into instantly redeemable cash.
The event and the market response Private investments commonly offer longer holding periods and fewer opportunities to exit than listed securities. That creates a mismatch when an investor wants liquidity while the underlying manager needs stable capital. Pontoro’s design attempts to address the mismatch within a pool holding liquid and less-liquid investments, with rules that adjust incentives as redemptions or subscriptions change its composition. The model depends on actual available liquid assets, credible valuations and a clearly disclosed process for handling stress. A token representing the pool does not by itself make private loans or funds more liquid.
Why the development matters to the crypto market The strongest market lesson is to separate token supply from genuine tradable liquidity. Digital ownership records can simplify transfer or reporting, but cannot guarantee that buyers exist at a fair price during a downturn. Pontoro’s rules-based approach explicitly acknowledges that problem by making available liquidity and incentives part of the product. For tokenization enthusiasts, it is a more useful development than a headline about a large notional amount moved onchain, because it tackles how investors might actually enter and leave positions.
Tokenized finance is often described as a single market, but it covers quite different instruments: cash-like balances, securities, private credit and other claims. Each has different settlement and counterparty risks. Institutional adoption becomes meaningful when service providers can explain who owes what, how a holder exits a position and what happens during a dispute. The detail matters as much as speed. A sound launch can be the beginning of a larger change, although the step from successful integration to widespread, economically useful activity is rarely automatic.
The distinction between a blockchain record and the economic rights behind it is crucial for anyone evaluating this news. Digital tokens may move quickly, but title, custody, investor eligibility and redemption remain governed by legal agreements and regulated entities. A new integration should therefore be judged by the processes it can complete end to end, not simply by the number of assets it can represent. Traders also need to resist treating institutional enthusiasm as an automatic bullish signal for a native cryptocurrency: commercial adoption and token pricing can diverge for long periods.
What the headline does not establish The release says the pool interests are issued as permissioned tokens on Stellar and held in identity-verified wallets. The fund manager retains authority over selection, valuation and governance. This is a material qualification: the digital wrapper does not replace asset-management decisions or investor eligibility requirements. The Stellar Development Foundation also disclosed that it is an investor in both Pontoro and Archax, context that should accompany accounts of the partnership. A functioning pilot can demonstrate mechanics, but sustained investor use and performance under withdrawal pressure remain unproven.
What to watch next Future pilot reports should reveal redemption outcomes, subscription volumes and how the pool responds to stressed markets. Without that information it would be premature to claim that a lasting liquid secondary market for private assets has been created.
Primary source: Official statement / source documentation.
written by the News Desk and edited by Samuel Rae.
Chainlink’s LINK token was priced at $11.44 on October 29, 2026, following a 24.19% decline over the past month. Despite Chainlink’s ongoing institutional collaborations, including fresh deals, LINK remained around 78% below its May 2021 all-time high of $52.70 as it entered the final two months of the year.
LINK 2026 price outlook: Forecasts and targetsPrice predictions for LINK by the end of 2026 largely fall within the $8.38 to $19.27 range. Key projections include an end-year target of $13 from Standard Chartered, while sources such as LiteFinance, Changelly, and CoinStats format their estimates between $11.00 and $15.78. On October 29, LINK’s market capitalization stood at $8.77 billion, positioning it at number 16 among cryptocurrencies, with a circulating supply of 766.85 million LINK out of a maximum of 1 billion.
ScenarioYear-end 2026 rangeMain assumptionsBearish$8.40 – $10.50Continued selling pressure, flat ETF demand, breaks below $11 supportBase$11.00 – $13.50Stabilization, tracks consensus analyst targets, steady ETF activityBullish$14.50 – $16.20Renewed ETF inflows, successful staking or institutional integrations drive demandInstitutional moves and ETF trendsChainlink expanded its ecosystem through new partnerships in late 2026, including the launch of CustodySync with Anchorage Digital, an extended collaboration with S&P Global Ratings, and an agreement with LG CNS on Korean digital asset projects. The Grayscale Chainlink Trust ETF launched in December 2025, followed by Bitwise’s spot ETF debut on NYSE Arca in January 2026. Bitwise later filed a proposal allowing up to 20% of its Chainlink fund to be staked, while Grayscale accumulated another 629,100 LINK for its holdings.
However, US spot Chainlink ETFs reported eight consecutive trading days without net inflows, highlighting tepid demand during the latest price decline. The last notable fund movement was an outflow of roughly $397,000 on October 16. The Crypto Fear & Greed Index stood at 51, indicating neutral sentiment among market participants.
Mini dictionary: Anchorage Digital is a regulated crypto custodian known for providing secure storage solutions to institutional investors in the digital asset sector.
Key drivers and risk factors for LINKSector analysts pointed to several factors influencing LINK’s price direction. New launches like CCIP Vault Adapters allowed DeFi vaults to accept deposits from more than 80 blockchains. Partnerships with firms such as LG CNS and S&P Global Ratings were designed to deepen institutional engagement, particularly for services tied to stablecoins and tokenized securities.
Despite these developments, several risks remain. Uncirculated supply represents about 23% of the token’s maximum, posing the risk of future dilution. Additionally, some high-profile announcements have not yet translated into substantial new lending or integration commitments. Technical models marked downside targets near $8.38 to $8.89, while market watchers noted that recent outflows from Binance, the result of large deposits being reallocated, had yet to spark sustained buying interest.
Analyst MorenoDV_ commented that ongoing outflows may simply be a redistribution of previously deposited LINK and have not yet resulted in consistent market demand.
Chainlink Reserve’s recent purchase of 431,900 LINK signaled confidence within its treasury operations, even as total exchange reserves fell to 124.2 million LINK. On the upside, targets to watch include the 24-hour high of $11.95, followed by $14.43 and $15.80.
Historical context and major technical levelsAfter climbing to a 2026 peak of $15.80 in September, LINK experienced a notable decline in October, shedding over 20% for the month. The all-time high set in May 2021 remains distant, with none of the reviewed forecasts expecting a return to that level within 2026. Downside reference points remain at $11.29 and further support near the $11 threshold.
Published estimates from LiteFinance, Changelly, CoinStats, and Standard Chartered reflect consensus ranges, but market conditions and ETF flows may shift future projections.
Montana Senator Steve Daines voiced support for Chainlink ahead of its Link event in New York City on October 29.
The event features speakers from Swift, Citi, Fidelity Investments, Intercontinental Exchange and the DTCC.
Daines introduced the ADAPT Act on October 22 with three other senators to clarify crypto tax rules.
Chainlink launched CustodySync with Anchorage Digital Bank on October 26.
The Hong Kong Gold Exchange plans to use Chainlink’s cross-chain technology for its gold-backed XGZ token.
Montana Senator Steve Daines has voiced support for Chainlink and the digital asset industry. His comments come ahead of Chainlink’s Link event, set for October 29 in New York City.
Chainlink has highlighted the senator’s recognition of blockchain technology in its promotion of the event. The company is bringing together financial institutions, policymakers and industry executives to discuss digital assets in traditional finance.
Daines’ support comes one week after he introduced a bill aimed at changing how digital assets are taxed in the United States.
ROAD TO Link:NYC 🇺🇸
A message of support from Montana Senator @SteveDaines as we approach Link:NYC.
We appreciate Senator Daines’ continued engagement with the digital asset industry and his recognition of its importance to the U.S. pic.twitter.com/VrwtBUn3BI
— Chainlink (@chainlink) October 28, 2026
Senator Daines Pushes for Clearer Crypto Tax Rules
On October 22, Daines introduced the Aligning Digital Assets with Principles of Taxation Act, known as the ADAPT Act. Senators Cynthia Lummis, Bernie Moreno and Tim Scott joined him on the bill.
The bill seeks clearer tax treatment for crypto transactions. It would apply existing securities and commodities tax principles to similar digital assets.
Under the proposal, everyday purchases made with qualifying regulated dollar stablecoins would not require gain-or-loss tracking. Network transaction fees of $10 or less would also be exempt.
The bill also covers staking, digital asset investment trusts and certain lending activities. It would apply wash sale and constructive sale rules to digital assets.
Daines said current tax laws have not kept pace with blockchain technology. He said this creates unneeded complexity for taxpayers and businesses.
During a July Senate Finance Committee hearing, he called for crypto tax rules that are easier to understand. He also asked for safeguards against tax avoidance.
Chainlink Expands Institutional Partnerships
Chainlink has announced several deals with financial institutions in recent months. These projects focus on tokenized assets, collateral management and cross-border payments.
In September, Chainlink announced a framework that lets financial institutions access Swift’s blockchain ledger through its Runtime Environment. Swift said 17 banks across six continents were preparing live pilots involving tokenized deposits.
That same month, payments company Bottomline partnered with Chainlink. Bottomline’s network processes more than $16 trillion in payments each year and serves over 600 banking customers.
On October 26, Chainlink launched CustodySync with Anchorage Digital Bank as its first partner. The service lets institutions use assets held in qualified custody as collateral for blockchain-based borrowing.
A day later, the Hong Kong Gold Exchange said it will use Chainlink’s cross-chain technology for its XGZ token. Each token represents one gram of 99.99% fine gold.
The Link event is a one-day gathering for senior executives from banks, asset managers and market infrastructure providers. Topics include tokenized real-world assets, blockchain interoperability, artificial intelligence in finance and blockchain payment systems.
Speakers include representatives from Swift, Intercontinental Exchange, Fidelity Investments, Citi and the Depository Trust & Clearing Corporation. Chainlink co-founder Sergey Nazarov is also among the featured speakers.
The event is taking place on October 29 in New York City.
Chainlink (LINK) loses 20.8% since early October despite a decrease in reserves on crypto platforms. Binance records 18 consecutive days of net token outflows, while reserves tracked by CryptoQuant have dropped to 124.2 million LINK. Usually considered bullish, this movement does not produce any sustained rebound. US Chainlink ETFs also show signs of slowing down.
In brief Chainlink declines 20.8% in October despite 18 days of net withdrawals on Binance. LINK reserves on exchanges decrease to 124.2 million tokens. US Chainlink ETFs record eight consecutive sessions without net flows. Chainlink loses 21% despite crypto withdrawals on Binance On-chain data shows an unusual situation. For 18 days, more LINK have left Binance than arrived. Investors often interpret these withdrawals as a sign of accumulation, especially when tokens are transferred to private wallets.
The decrease in reserves is not new. In August 2025, 33 million LINK had already left exchange reserves, which dropped from 180 to 147 million tokens. This time, the figures do not accompany an increase. According to CryptoRank, the Chainlink crypto shows a loss of 20.8% since the beginning of the month. In a reading taken on October 29 around 11:40 UTC, LINK traded around 11.58 dollars on Binance, after a low of 11.29 dollars in the last 24 hours.
Analyst MorenoDV_ however calls for caution. Before this withdrawal streak, Binance had recorded a net inflow of about 8.7 million LINK. Part of the subsequent outflows could thus correspond to a redistribution of these tokens to other wallets.
In other words, the transfers do not prove that new investors are accumulating LINK. Aggregate reserves tracked by CryptoQuant have returned to 124.2 million tokens, a level close to that observed before significant inflows on Binance. The market still lacks buyers capable of sustainably reversing the decline.
LINK ETFs lose 40 million $ in net assets US investment products do not offset this weakness. According to SoSoValue, spot Chainlink ETFs have recorded eight consecutive sessions without net inflows or outflows. Their last movement dates back to October 16, with a withdrawal of around 397,000 dollars.
On October 9, these funds had attracted 9.48 million dollars in a single session. Since then, flows have stopped. Their total net assets fell from 249.4 million dollars on September 28 to 209.5 million on October 28. This represents a decline of 39.9 million dollars, or about 16%.
Beware not to confuse the two indicators. This valuation drop does not mean investors have withdrawn 39.9 million dollars. The drop in LINK also reduces the value of tokens already held by the funds.
This distinction had already been noted regarding the Grayscale Chainlink ETF, whose assets declined with the fall of LINK. October’s situation presents an additional challenge: funds no longer record new net inflows. Even when reserves available on exchanges decrease, the price can continue to fall if demand remains insufficient.
Chainlink’s advances do not yet support the price The crypto project continues its technological development. On September 28, Chainlink launched CCIP 2.0, a new version of its interoperability protocol between blockchains. It notably brings additional verification mechanisms, compliance controls, and more flexibility in executing transfers.
Another recent announcement: on October 27, Further Asset Management, a company based in Abu Dhabi, announced the adoption of the Chainlink ACE compliance engine for its Anubis platform. The tool aims to verify certain regulatory conditions before executing transactions involving tokenized assets. Its initial deployment concerns the Abu Dhabi Global Market.
This partnership is a commercial advance announced without yet proof of a direct effect on LINK demand. Chainlink had several catalysts at the beginning of the month. The project was among the five cryptos to watch in October 2026, notably thanks to CCIP 2.0 and its ambitions in tokenized finance.
On the market, analysts now monitor resistance at 12.30 dollars and support at 10.87 dollars. Another area of interest lies between 9.50 and 10.50 dollars. These are technical levels proposed by analysts, not guaranteed prices.
For Chainlink, withdrawals on Binance are data to watch, not proof of a reversal. The next sessions will show if buyers really return, both on the spot market and in ETFs.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Montana Senator Steve Daines has expressed support for Chainlink and the broader digital asset sector ahead of the company’s upcoming Link event in New York City on October 29.
Senator Daines champions crypto-friendly tax reformsSenator Daines, who represents Montana in the U.S. Senate, recently introduced the Aligning Digital Assets with Principles of Taxation Act, known as the ADAPT Act, aiming to bring clarity to the tax treatment of digital assets. Senators Cynthia Lummis, Bernie Moreno, and Tim Scott have joined as co-sponsors of the bill.
The proposed legislation seeks to harmonize tax rules for cryptocurrencies with existing regulations for securities and commodities. Under the bill, typical consumer purchases using regulated dollar stablecoins would be exempt from mandatory gain-or-loss tracking. Additionally, network fees of $10 or less would not need to be reported for tax purposes.
The measure addresses other areas including staking, digital asset investment trusts, and select lending activities. It also proposes the application of wash sale and constructive sale rules to digital assets.
Daines has argued that, “Outdated tax laws have failed to match the pace of blockchain innovation, resulting in unnecessary complexity for individuals and businesses.”
During a Senate Finance Committee session in July, Daines called for tax rules that better reflect the realities of digital assets and advised additional protections against tax avoidance strategies.
Chainlink’s institutional momentum growsChainlink, a blockchain and oracle network specializing in connecting smart contracts with real-world data, has expanded its institutional partnerships in the lead-up to the New York event. The company’s focus has been on tokenized assets, collateral management, and cross-border payment solutions.
In September, Chainlink introduced a new framework enabling financial institutions to access Swift’s blockchain infrastructure through its Cross-Chain Interoperability Protocol, or CCIP. Swift, the global payments messaging network, stated that 17 banks across six continents are preparing live pilot programs for tokenized deposits using this platform.
Mini dictionary: Chainlink’s Cross-Chain Interoperability Protocol (CCIP) allows blockchain networks to communicate and transfer data and assets between one another, enabling interoperability among different blockchains and traditional financial infrastructures.
Also in September, Chainlink partnered with Bottomline, a major payment processing technology provider serving over 600 banks and handling more than $16 trillion in annual transactions.
On October 26, Chainlink launched CustodySync, with Anchorage Digital Bank as its first partner. The service enables institutions to use assets held in regulated custody as collateral for borrowing within blockchain networks.
The Hong Kong Gold Exchange, a recognized precious metals trading institution, has announced plans to adopt Chainlink’s cross-chain technology for its gold-backed XGZ token, which allocates one gram of 99.99% fine gold per token.
Link event to feature global finance leadersThe Chainlink-hosted Link event in New York will convene high-level executives from leading global banks, asset managers, and infrastructure providers. Panel discussions will address topics such as tokenized real-world assets, blockchain interoperability, artificial intelligence in financial services, and payment systems based on blockchain technology.
Notable speakers include representatives from Swift, Citi, Fidelity Investments, Intercontinental Exchange, and the Depository Trust & Clearing Corporation (DTCC). Chainlink co-founder Sergey Nazarov is also scheduled to deliver remarks.
The event underscores the growing connections between traditional finance and blockchain innovators, as institutions explore real-world use cases for digital asset technology.
The Link event is a one-day gathering set for October 29 in New York City.
AST SpaceMobile has shed more than 40% this year, but a funded constellation, 60-plus carrier partners, and potential billion-dollar government contracts suggest the selloff may have punished the stock far beyond what the fundamentals warrant.
Our 24/7 Wall St. price target for AST SpaceMobile (NASDAQ:ASTS) is $52.16. That implies 26.5% upside from the current $41.22.
Metric
Value
Current Price
$41.22
24/7 Wall St. Price Target
$52.16
Upside/Downside
26.5%
Recommendation
BUY
Confidence Level
55%
ASTS earns a buy rating with moderate confidence of 55%, which shows real execution risk.
AST SpaceMobile is moving from prototype to scaled constellation. They have 13 spacecraft in orbit, BlueBirds 17 through 46 in production, and a target of 45 satellites in orbit by early 2027. In my view, the recent sell-off places too much weight on the risks and too little on the build-out.
A 33% Monthly Slide Resets the Entry Point
ASTS fell 33.31% over the past month and 43.25% year to date, though it has steadied with a 0.22% gain this week. Shares trade 69.2% below the 52-week high of $133.86 and 12.3% above the $36.72 low.
Second-quarter revenue of $31.52M missed the $34.40M consensus, and GAAP EPS of -$0.77 missed the -$0.2873 estimate. Several securities class actions now cover a class period from March 4, 2025 to July 15, 2026, and the lead-plaintiff deadline falls on November 13, 2026.
Why Bulls See $75 and Beyond
AST SpaceMobile has 60+ MNO partners covering >3B subscribers and about $1.30B in signed backlog. Japan’s J-LEO project could bring in up to approximately USD 1 billion in non-dilutive, non-debt government capital.
The company’s president said government work could scale into “a recurring multibillion dollar a year opportunity starting in 2027.” Management also expects revenue approaching $1 billion in the first full year of commercial service, supported by pro forma liquidity above $3.70B.
Five analysts have bullish ratings on the stock. My bull case is the $74.68 consensus target.
What Could Push ASTS Back to Its Lows
Revenue has missed estimates in two straight quarters, which puts pressure on the $150M-$200M full-year guidance. Spending is also heavy: capex was about $610 million in the second quarter, with another $350 million to $425 million guided for the third.
The GAAP loss looks better on closer inspection, though. It included a $125.9M BB7 involuntary-conversion loss and $88.7M in induced conversion expense, and both are non-recurring. Seven analysts rate the stock a Hold and two rate it bearish. My bear case is a retest of $36.72.
Is ASTS Too Expensive Next to Iridium and Viasat?
Company
Price/Sales
EV/Revenue
AST SpaceMobile
133.16
109.58
Iridium
5.22
7.11
Viasat
1.977
2.951
Iridium Communications (NASDAQ:IRDM | IRDM Price Prediction) is the mature, profitable version of direct satellite connectivity. The stock is valued at 23x forward earnings on $902.97M in trailing revenue. That revenue base is close to where AST SpaceMobile hopes to be in its first full year of commercial service.
Viasat (NASDAQ:VSAT) competes for the same government and mobility dollars and brings in $4.63B in trailing revenue. Yet its market cap of $9.15B sits below AST SpaceMobile’s. This group shows that ASTS is priced on its future network. Our target makes sense only if that revenue ramp shows up, and with that condition I see the target as reasonable.
Growth Phase Tilts the Scale Toward Upside
I rate ASTS a buy, with a 24/7 Wall St. price target of $52.16 and 55% confidence. The funded constellation ramp is the key reason for my call.
I would turn more constructive if beta service launches on schedule and fourth-quarter revenue lands within guidance. I would get cautious if launches slip again or MNO agreements stall before becoming final contracts. On balance, I think the decline has gone further than the fundamentals justify.
AST SpaceMobile Price Prediction 2026-2030
Looking further out, here is where the 24/7 Wall St. price target model projects ASTS could trade if current growth trends and market conditions hold.
Year
24/7 Wall St. Price Target
2026
$46.69
2027
$52.16
2028
$65.20
2029
$81.50
2030
$101.88
The projections rest on AST SpaceMobile continuing to execute on its constellation plan. Results could swing sharply higher or lower depending on when commercial service starts, how government contracts scale, and how the litigation is resolved.
Contact [email protected] for any questions or corrections.
Shares of FTAI Aviation (FTAI +14.38%), an aircraft and aircraft engine leasing company, took off after reporting Q3 earnings Thursday and flew 14.5% higher through 1:40 p.m. ET.
Image source: Getty Images.
FTAI Aviation Q3 earningsFTAI reported $977.7 million in Q3 revenue, up 46.6% from one year ago, and earned $150.6 million in profit -- up 28%. Earnings per share did even better, rising 30% year over year to $1.43.
The results appear to have come as a pleasant surprise to Wall Street and investors alike, who had been selling off FTAI stock this year -- and the stock is still down 10% over the past year, even after today's rally.
$191.18+$24.04 (+14.38%)
NASDAQ · As of 2:22 PM ET 10/29/26
What's next for FTAI stockAs for FTAI itself, it's taking advantage of its stock price's continued weakness to "accelerate" its share buybacks, announcing it will double its repurchase authorization to $1 billion, which, if implemented in full, could retire more than 6% of shares outstanding.
CEO Joe Adams says he has "clear visibility into 2027" to support the repurchases -- but I'm not so sure. For one thing, FTAI doesn't actually have $1 billion to spend. It's showing a bit less than $386 million on its balance sheet, against long-term debt of more than $3.45 billion.
FTAI also lacks free cash flow with which to fund the buybacks. Although the company didn't include a cash flow statement with its earnings release, data from S&P Global Market Intelligence show that FTAI burned through nearly $516 million in negative free cash flow in the first half of this year.
Long story short, if FTAI wants to buy back its shares, it'll probably need to go (further) into debt to do it.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Ftai Aviation. The Motley Fool has a disclosure policy.
Chainlink 24/7 is now live, providing always-on market data for stocks, commodities, and many other traditional assets to blockchain markets. Aave, the largest DeFi lending market with over $34 billion in total value secured (TVL), is actively adopting Chainlink 24/7 to securely manage collateral around the clock.
Earlier this year, Chainlink 24/5 U.S. Equities Streams launched, delivering market data for U.S. equities and ETFs across every weekday trading session: pre-market, regular, post-market, and overnight. Now, Chainlink 24/7 is extending pricing coverage to weekends and holidays. Markets powered by Chainlink 24/7 never sleep, giving users the ability to trade, borrow, and manage their positions at any time while ensuring asset issuers and DeFi applications can properly manage risk at all times.
Chainlink 24/7 is delivered through Data Feeds and Data Streams, built on Chainlink’s industry-standard decentralized oracle infrastructure that secures ~70% of DeFi, powers over 80% of lending markets on Ethereum and Solana, supports over 81% of tokenized RWA value, and has enabled over $1 trillion in perpetuals trading volume in 2026. This battle-tested infrastructure has proven secure and reliable during the most extreme market volatility, blockchain network congestion, and major cloud infrastructure outages.
Chainlink 24/7 is critical infrastructure for a financial transformation that goes far beyond extended trading hours, ultimately unifying the world’s financial markets onchain. Stocks, commodities, funds, and other assets from all over the world are being tokenized at an accelerating rate, opening them to a global investor pool that can access them to trade, obtain liquidity, manage risk, and put their capital to work wherever they are, at any time of the day. Breaking news in Asia, a weekend opportunity in Europe, or a financing need in the Americas no longer waits for an opening bell. Chainlink is underpinning this shift with the continuous market data that makes 24/7 global markets a reality.
Reach out to a Chainlink expert to learn more and start building today.
The Barrier Preventing Around-the-Clock Asset TradingTokenization brings traditional assets such as equities and commodities onto blockchains that operate around the clock. However, the gap between traditional market operating hours (e.g., Mon-Fri; 9:30AM – 4:00PM ET in the U.S.) and onchain market hours (24/7) makes it difficult to reliably price and manage these types of assets when traditional markets are closed.
Chainlink 24/5 Streams closed the weekday gap by providing trusted market data onchain across regular, pre-market, post-market, and overnight sessions. Yet a gap remained from 8PM ET Friday to 8PM ET Sunday, as well as on market holidays.
Onchain applications have historically had to manage these gaps themselves, forcing them into difficult trade-offs: pause markets, rely on the last available price, or build their own off-hours methodology and switching logic. These limitations make it harder to provide a consistent trading experience and manage the value of tokenized collateral during market closures.
For onchain finance to reach its full potential, applications require unified pricing infrastructure to support traditional assets throughout the week. Not only does this make new markets possible, but it's critical to managing risk, especially in applications with automated liquidations and risk parameters. For example, lending protocols assume risk by holding tokenized RWAs as collateral over the weekend and holidays when the underlying markets are closed, making off-hours pricing a DeFi solvency risk that must be addressed.
How Chainlink 24/7 Unlocks Always-On Markets for RWAsChainlink 24/7 stitches together prices from active trading sessions with an off-hours reference to create a single continuous price series for each supported asset. As a result, applications gain a consistent foundation for pricing and risk management without having to assemble it themselves.
During regular, extended, and overnight trading sessions, the price draws on existing Chainlink 24/5 session data. When the underlying traditional market closes, it uses quotes from multiple top perp venues. This off-hours engine reflects fresh trading in derivatives linked to the asset; it is not a live quote from the closed traditional exchange.
Chainlink connects these sources using session-aware stitching, which manages transitions between pricing sources as market sessions change. Built on the established blending engine behind Chainlink’s 24/5 tokenized equity pricing, this approach enables applications to maintain continuity across the week while preserving immediate price discovery at the regular-session opening bell.
Chainlink 24//7 deliver continuous, context-rich market data across blockchains to unlock always-on onchain markets for tokenized RWAs.Chainlink 24/7 InnovationsOne Continuous Reference Per Asset: Chainlink handles the transition between session-specific data and off-hours pricing, so developers can spend less time building feed-selection logic and more time bringing utility to RWAs.Off-Hours Pricing Informed by Multiple Perps Venues: The reference aggregates quotes from multiple perps venues, filters out stale inputs, and limits the influence of outlier prices, improving resilience and reducing reliance on any single off-hours venue. Supported assets must meet Chainlink’s high standards for market coverage, liquidity, and pricing consistency.Two Onchain Delivery Paths: Each application gets the delivery model suited to its use case. Prediction markets and perpetual exchanges can retrieve low-latency pricing offchain directly through Data Streams when needed. Lending protocols can read prices published directly onchain through Data Feeds.Market Context for Informed Risk Decisions: Data Streams reports identify the current market session and include bid and ask prices during open sessions. Applications can use this context to adapt risk settings as market conditions change. New Markets for RWAsContinuous pricing expands the range of financial products developers can build onchain around traditional assets, including:
Perpetuals and Derivatives: Price, fund, and settle perpetual markets on traditional assets through weekends and holidays, with a reference price that keeps moving when markets are closed. Lending Against Tokenized Assets: Value eligible collateral around the clock with a price designed for liquidations, allowing protocols to maintain their risk parameters beyond traditional market hours.Short-Duration Prediction Markets: Establish markets based on asset price movements using time-weighted average pricing (TWAP) as a consistent reference to determine outcomes and help prevent price manipulation.Industry Leader Aave Adopts Chainlink 24/7Aave is using Chainlink 24/7 Data Feeds to price tokenized RWAs used as collateral within its institutional lending platform Horizon, starting with high-volume U.S. Equities.
“Bringing assets onchain should increase the number of ways users can put capital to work. With Chainlink 24/7, Aave can reliably value RWA collateral through weekends and holidays, enabling institutions to realize the full potential of always-on lending backed by the robust risk management they require.” — Stani Kulechov, Founder and CEO, AaveThe Future of Finance Is Markets That Never SleepGlobal demand for U.S. markets is surging. According to Nasdaq, foreign holdings of U.S. equities nearly doubled between 2019 and mid-2024, reaching $17 trillion. Yet markets still run on a schedule set by a single time zone. An investor in Seoul shouldn’t have to wait for New York to wake up to capitalize on an opportunity. Chainlink is providing the mission-critical infrastructure for the next era of finance, where opportunity is accessible across borders and around the clock.
Chainlink 24/5 broke the first barrier by extending onchain equity markets on weekdays beyond standard trading hours. Chainlink 24/5 has already extended markets beyond standard trading hours for nearly half of the tokenized equities, powering pricing for more than $1.6 billion in tokenized stocks across six blockchains for Ondo, xStocks, Robinhood, and Coinbase.
Now, Chainlink 24/7 breaks the last barrier by bringing continuous pricing data to onchain markets for real-world assets throughout weekends and holidays. As coverage expands, builders can now bring more traditional assets into always-on trading and lending markets, giving investors greater freedom to deploy capital, access liquidity, and manage exposure throughout the week at any hour.
Teams building onchain applications can contact Chainlink about integrating 24/7.
To learn more about Chainlink, visit chain.link, subscribe to the Chainlink newsletter, follow Chainlink on Twitter and YouTube, and follow Chainlink Labs on LinkedIn.
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Disclaimer: This post is for informational purposes only and contains statements about the future, including anticipated product features, development, and timelines for the rollout of these features. These statements are only predictions and reflect current beliefs and expectations with respect to future events; they are based on assumptions and are subject to risk, uncertainties, and changes at any time. There can be no assurance that actual results will not differ materially from those expressed in these statements, although we believe them to be based on reasonable assumptions. All statements are valid only as of the date first posted. These statements may not reflect future developments due to user feedback or later events, and we may not update this post in response. Please review the Chainlink Terms of Service, which provides important information and disclosures.
FTAI Aviation Ltd. (FTAI) Q3 2026 Earnings Call October 29, 2026 8:00 AM EDT
Company Participants
Charles Arestia - Principal - Investor Relations
Joseph Adams - Chairman & CEO
David Moreno - President
Nicholas McAleese - Chief Financial Officer
Conference Call Participants
Sheila Kahyaoglu - Jefferies LLC, Research Division
Giuliano Anderes-Bologna - Compass Point Research & Trading, LLC, Research Division
Kristine Liwag - Morgan Stanley, Research Division
Andre Madrid - BTIG, LLC, Research Division
Kenneth Herbert - RBC Capital Markets, Research Division
Brandon Oglenski - Barclays Bank PLC, Research Division
Jeffrey Kauffman - Citizens JMP Securities, LLC, Research Division
Shannon Doherty - Deutsche Bank AG, Research Division
Louis Raffetto - Wolfe Research, LLC
Joshua Sullivan - JonesTrading Institutional Services, LLC, Research Division
Marni Lysaght - Macquarie Research
Presentation
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Third Quarter 2026 FTAI Aviation Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to turn the conference over to Charlie Arestia, Principal Investor Relations. Please go ahead.
Charles Arestia
Principal - Investor Relations
Thank you, Michelle. I'd like to welcome you all to the FTAI Aviation Third Quarter 2026 Earnings Call, which is open to the public in listen-only mode and is being webcast.
Joining me here today are Joe Adams, our Chief Executive Officer; David Moreno, our President; Nicholas McAleese, our Chief Financial Officer; and Stacy Kuperus, our Chief Operating Officer. We posted an investor presentation and our press release on our website, which we encourage you to download if you have not already done so.
We will be discussing some non-GAAP financial measures during the call today, including adjusted EBITDA. The reconciliation of these measures to the most directly comparable GAAP measures can be found in the earnings supplement.
In addition, certain statements made today will be forward-looking statements, including regarding
Alipay said it does not authorize crypto trading through third-party platforms.
Peer announced a beta service on October 27 for trading USDC with Chinese yuan via Alipay.
Peer reported 107 trades worth about $7,094 from 45 buyers since August 21.
Peer later said it has no formal partnership with Alipay.
China bans crypto trading and fiat-to-crypto exchanges under rules updated in February 2026.
Chinese payments company Alipay has denied that it supports cryptocurrency trading through outside platforms. The statement came after peer-to-peer marketplace Peer announced a service for buying and selling USDC with Chinese yuan.
Peer announced the feature on October 27. It said buyers could pay in yuan through Alipay to receive USDC, while sellers could swap the stablecoin for yuan.
Alipay responded roughly one day later. Its October 28 statement said the company does not authorize virtual currency transactions or related services on its payment network.
How Peer’s USDC Service Works
Peer described the Alipay payment option as live in beta. It directed users to its Chinese-language account for instructions and customer support.
Under the setup, a buyer sends yuan directly to another user through Alipay. Once the seller confirms the payment, Peer handles the delivery of USDC.
The platform uses an onchain escrow system. The seller first deposits USDC into a smart contract, and the contract releases the coins to the buyer’s wallet after the yuan payment is verified.
Alipay does not issue USDC or run an exchange under this arrangement. However, its service would still carry the yuan side of each trade.
Peer later said it had no formal partnership with Alipay. It described the system as payments directed by individual users, not an official link with the payments company.
Peer said the arrangement had been running since August 21. In that time, it reported 107 completed trades involving 45 buyers, with total volume of about $7,094.
That works out to roughly $66.30 per trade. The figures come from Peer and have not been published by Alipay.
China’s Rules on Crypto Payments
China has restricted crypto transactions for years. Alipay has previously set up monitoring to find and limit accounts used for over-the-counter crypto trading.
In February 2026, the People’s Bank of China and seven other government departments issued updated crypto rules. They classified crypto trading, fiat-to-crypto exchanges and related services as banned financial activities.
The rules covered Bitcoin, Ether and stablecoins. Authorities said cryptocurrencies are not legal money and cannot circulate as currency in China.
In June, the central bank outlined new anti-money laundering steps. These targeted virtual currency trades, underground banking networks and cross-border financial crime.
In its October 28 statement, Alipay said, “Claims that Alipay enables crypto purchases on third-party platforms are false and unauthorized.”
The company urged customers to protect their funds and accounts. It also warned users to be careful when outside platforms advertise crypto purchases using Alipay.
Wall Street güçlü görünüyor ama herkes kazanmıyor. Coinbase hisseleri zirvesinden %56, Circle %44, Robinhood ise %40 geride. S&P 500 rekor seviyelere yakın seyrederken kripto şirketlerindeki kayıplar, yükselişin piyasaya eşit dağılmadığını gösteriyor.
Kobeissi Letter, bu ayrışmayı “gizli ayı piyasası” olarak tanımlıyor. Kurumun verilerine göre 30 Mart’tan bu yana S&P 500’deki kazançların %70’i yalnızca 10 hisseden geldi. Endeks yükselirken birçok şirketin gerilemesi, piyasanın gerçek gücü konusunda soru işaretleri yaratıyor.
Endeks Yükseliyor, Kripto Hisseleri Geride Kalıyor
Kobeissi Letter’ın izlediği 20 teknoloji hissesi ayı piyasası bölgesinde. AppLovin zirvesinden %65 düşerken Coinbase %56 kayıpla üçüncü sırada. Circle ve Robinhood da sert düşüşten kurtulamadı.
Sorun yalnızca kripto şirketleriyle sınırlı değil. Nvidia, S&P 500’deki toplam yükselişin %13’ünü tek başına sağladı. Endekse katkı veren şirketlerden Micron zirvesinin %24, Alphabet ise %28 altında işlem görüyor.
Faiz beklentileri de değişti. Kobeissi Letter’ın ekim ortasındaki verileri, piyasaların Haziran 2027’ye kadar üç faiz artışını fiyatladığını gösteriyordu. Yılın başında ise beklenti üç faiz indirimi yönündeydi.
Circle ve Robinhood cephesinde şirketlere özgü sorunlar da var. USDC ihraççısı Circle, rezervlerinden elde ettiği faiz gelirlerine büyük ölçüde bağımlı. Şirket hisseleri, Senato’daki CLARITY Act oylamasının tıkanmasının ardından eylülde gün içinde yaklaşık %11 geriledi.
Robinhood üçüncü çeyrekte 1,4 milyar dolarla rekor gelir açıkladı. Buna rağmen hisse başına seyreltilmiş kârı yıllık bazda %16 düştü. Rekor gelir, yatırımcıların kârlılığa ilişkin kaygılarını gidermeye yetmedi.
Bitcoin 80 Bin Doların Altında, Coinbase Bilançosu Yaklaşıyor
Bitcoin, 80 bin doları koruyamıyor ve sık sık bu seviyenin altına geriliyor. ABD Hazinesi’nin salı günü 6 milyar dolarlık tahvil geri alım programı limitini doldurması da fiyatı yukarı taşımadı.
Coinbase, üçüncü çeyrek sonuçlarını perşembe günü piyasa kapanışından sonra açıklayacak. Analistler yaklaşık 1,2 milyar dolar gelir bekliyor. Bu tahmin, geçen yılın aynı dönemine göre %36 düşüş anlamına geliyor. Piyasa beklentileri ayrıca şirketin zarar açıklayabileceğine işaret ediyor.
İkinci çeyrek verileri, işlem faaliyetlerindeki yavaşlamayı ortaya koymuştu. Tüketici işlemlerinden elde edilen gelir yıllık bazda %20 düşerek 452 milyon dolara indi. Spot işlem hacmi de ilk çeyreğe kıyasla %25 azaldı.
İşlem hacmindeki gerileme, Coinbase’in gelir beklentileri açısından önemli bir risk oluşturuyor. Yeni bilançoda yatırımcılar yalnızca toplam gelire değil, işlem faaliyetlerinin seyrine de bakacak.
Dar Tabanlı Yükseliş Piyasayı Savunmasız Bırakıyor
Ekonomist Peter Schiff, Stocktwits’in aktardığı değerlendirmesinde bugünkü dar piyasa katılımını 1973 ve 1999–2000 dönemleriyle karşılaştırdı. Schiff, bu dönemlerin ardından %50’lik düşüşler yaşandığını savundu. Ancak tarihsel benzerlikler, aynı sonucun bugün de tekrarlanacağını kanıtlamıyor.
Kobeissi Letter ise daha iyimser bir senaryoya dikkat çekiyor. Kuruma göre enerji maliyetleri ve faiz baskısı hafiflerse piyasa sert bir yükseliş yaşayabilir. Bunun gerçekleşmesi için yükselişin birkaç büyük şirketle sınırlı kalmaması gerekiyor.
Kripto hisselerinde toparlanma için de Bitcoin’in yükselmesi tek başına yeterli olmayabilir. Coinbase’in bilançosu ve işlem hacimleri, şirketin gelir görünümüne ilişkin daha somut ipuçları verecek.
ABD borsası rekor seviyelere yakınken Coinbase, Circle ve Robinhood zirvelerinden %40–56 uzakta. Endeksin yükselişi bu kayıpları gizleyebilir; ancak kripto hisselerinde kalıcı toparlanma için şirket performanslarının da güçlenmesi gerekiyor.
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
According to TradingBeats monitoring, over the past two hours, a whale wallet starting with 0x30a opened a new long position in CL crude oil worth approximately $17.9554 million at an average price of $100.9, using 10x isolated leverage. The position currently has an unrealized profit of around $69,300, with a liquidation price of ~$93.19, roughly 8.07% below the current market price.
The account’s equity stands at about $2.8723 million; its combined long positions in crude oil and Microsoft total around $28.846 million, with an overall leverage ratio of roughly 10.04x. Crude oil accounts for 62.45% of total holdings, while the remaining portion is a Microsoft long position worth approximately $10.832 million. Fund records show that between October 26 and 27, the account received two transfers totaling ~2.0312 million USDC from the same address. The profit curve indicates its overall net loss over the past month is around $14.9545 million.
Before shifting to crude oil, the whale took profits on its long positions in Western Digital and Intel this morning after their earnings reports, generating a total trading profit of about $714,200; additionally, part of its Google long position was liquidated, leading to a total net loss of roughly $590,000 upon exiting those positions.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Chinese payments giant Alipay has refuted claims that it supports cryptocurrency trading through third-party platforms following an announcement by Peer, a decentralized peer-to-peer trading marketplace, about a new service enabling users to buy and sell the stablecoin USDC with Chinese yuan via Alipay’s payment network.
Alipay’s Statement and Peer’s AnnouncementPeer stated on October 27 that it had launched a beta service allowing users to purchase USDC by paying sellers in yuan through Alipay, or to sell USDC in exchange for yuan. The platform encouraged users to seek support and guidance through its Chinese-language social media channels and highlighted the service as a new on-ramp for stablecoins in China.
Peer emphasized that buyers can pay for USDC directly in CNY using Alipay, while sellers receive yuan for their digital assets via the payment app; instructions and support are available in Chinese.
Less than 24 hours after the launch, Alipay released an official statement on October 28 clarifying that it does not authorize or support cryptocurrency transactions through its network. The company warned that any claims suggesting otherwise are both untrue and unauthorized, urging users to safeguard their funds and remain cautious about advertisements promoting the purchase of crypto using Alipay.
Alipay, a subsidiary of Alibaba Group, is one of China’s largest digital payment providers, serving over one billion users globally.
Mini dictionary: Peer is a decentralized marketplace that facilitates peer-to-peer cryptocurrency trades, allowing users to buy and sell digital assets like stablecoins with local currencies.
How the Peer Platform OperatesPeer’s platform employs an onchain escrow system to manage trades. The process begins when a buyer pays yuan directly to a seller through Alipay. Once the seller confirms receipt of payment, USDC tokens deposited in a smart contract escrow are released to the buyer’s wallet.
Peer clarified that no formal relationship exists with Alipay, and all payments are user-initiated rather than an official partnership with the payment provider.
According to Peer, the beta function has been live since August 21 and has seen 107 transactions from 45 buyers, reaching a total trading volume of about $7,094. This amounts to an average transaction value of approximately $66.30. Alipay has not provided independent confirmation of these figures.
MetricReported ValueTotal trades107Number of buyers45Total volume$7,094Average per trade$66.30Regulatory Landscape in ChinaChina has maintained longstanding prohibitions on cryptocurrency activities. Alipay has previously reported implementing monitoring procedures to detect and restrict accounts suspected of being used for over-the-counter crypto trading.
In February 2026, the People’s Bank of China and seven other state agencies published updated regulations explicitly banning cryptocurrency trading, fiat-to-crypto platforms, and related financial services. The new rules targeted assets such as Bitcoin, Ether, and stablecoins like USDC, reiterating that cryptocurrencies lack legal status as currency in the country.
Additionally, in June, China’s central bank unveiled further anti-money laundering measures aimed at preventing illegal activity associated with virtual currencies, underground banking, and cross-border capital flows.
Alipay’s statement repeated its commitment to adhering to Chinese regulations and reminded users that virtual currency purchases or transaction facilitation are not permitted on its platform. The company encouraged customers to report suspicious activities and be vigilant against non-official claims of cryptocurrency support.
Binance will launch spot trading for Predict (PREDICT) at 18:00 (UTC+8) on October 30, adding a "seed" tag, with trading pairs PREDICT/USDT, PREDICT/USDC, and PREDICT/TRY available. Withdrawals for the token are scheduled to open at 18:00 (UTC+8) on October 31.
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Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Curve Finance, a decentralized exchange platform specializing in stablecoin trading and automated market-making, has launched its StableSwap protocol on Stellar mainnet. The rollout, announced by Curve Finance and the Stellar Development Foundation on October 29, 2026, represents the protocol’s first native deployment on a blockchain that does not use the Ethereum Virtual Machine (EVM).
With the launch, Curve’s StableSwap product is now live on Stellar, enabling users to create pools without permission, conduct swaps, and provide liquidity for stablecoins and synthetic crypto assets. This move allows Curve to serve assets whose prices should remain closely linked, such as stablecoins of the same denomination or wrapped tokens.
According to the team, future plans include bringing FXSwap—Curve’s trading product for stablecoins pegged to different fiat currencies—to Stellar, once a third-party security audit is complete. No specific activation date for FXSwap on Stellar has been set.
Curve Finance founder Michael Egorov noted that “the demand for Curve on Stellar comes from institutions,” and emphasized that exploring non-EVM chains only made sense “if there is demand.” He described Stellar as “closer to the familiar EVM world than many other chains.”
Currently, no official trading volume or on-chain activity figures for the new pools on Stellar have been released. Research from Crypto Briefing reports that the stablecoin market on Stellar is valued at approximately $394 million, most of which consists of USDC.
Mini dictionary: Stellar is an open-source, decentralized payment protocol designed to enable fast and low-cost transfers between fiat currencies and digital assets, often partnering with financial institutions and fintech companies for cross-border payments.
The path to Stellar and Curve’s expansionCurve had already launched FXSwap on Ethereum in December 2025, using it to facilitate automated market-making for foreign exchange and low-volatility pairs. The product supports stablecoins pegged to major currencies as well as synthetic assets. Curve expanded FXSwap to Polygon in May 2026, partnering with Polygon Labs, Frax, Frax Finance, and DFB to introduce pools pairing frxUSD with currencies including BRZ, IDRX, tGBP, AUDF, KRWQ, and USDT.
Subsequent governance votes in May and June 2026 led Curve to approve upgraded FXSwap pool mechanisms that help minimize arbitrage-driven value loss during rebalances. By September 17, 2026, Curve went live on Arc, a stablecoin-focused network, and claimed to operate more than 20 FX pools spanning 10 currency corridors across five networks.
Curve’s deployment on Stellar marks its first move beyond EVM-compatible chains, reflecting the protocol’s ongoing adaptation to varying blockchain standards and institutional demand.
Key FXSwap/StableSwap Expansion MilestonesDateFXSwap launch on EthereumDecember 11, 2025FX pools on PolygonMay 21, 2026Arc network launchSeptember 17, 2026StableSwap live on StellarOctober 29, 2026At the time of the Stellar deployment, Curve’s total value locked stood at $1.27 billion, according to data cited by TechFlow. This figure has not been independently verified and is based on third-party reporting.
Technical aspects and market environmentWhile Curve has not detailed how its contracts were adapted for Stellar, the launch shows its continued focus on expanding beyond EVM chains. StableSwap’s initial phase is live now on Stellar, while FXSwap will follow after audit completion. Technical specifics regarding the differences between Stellar and EVM implementations have not been disclosed.
The market environment at launch was subdued. On October 29, 2026, Bitcoin traded at $80,021 after slipping 1.16% over 24 hours and 4.67% in 30 days. Ethereum and Solana posted larger 30-day declines, each dropping between 14% and 16% over the same period. The Crypto Fear & Greed Index read 51, or “Neutral.” There was no immediate data on trading activity in the new Stellar pools.
AssetPrice (USD)24h Change30d ChangeBitcoin (BTC)$80,021-1.16%-4.67%Ethereum (ETH)$2,320.09-1.11%-14.4%Solana (SOL)$100.11-1.87%-15.99%New deployments carry inherent risks. Aside from general market volatility, users and liquidity providers face potential smart contract bugs and stablecoin depegs. These risks can lead to total loss of funds, especially on non-EVM chains with less battle-tested code. Additionally, stablecoin regulation remains fluid and varies by jurisdiction.
What’s next for Curve on Stellar?The next key milestone is the completion and activation of the FXSwap audit, after which the protocol may offer cross-currency stablecoin trading on Stellar. Institutions are expected to play a significant role once FXSwap goes live, though their identities have not been disclosed. Trading volumes and liquidity statistics for Stellar pools are expected in the coming months.
Crypto Briefing described the Stellar deployment as “Curve’s first move beyond EVM chains,” noting that the protocol will further expand its stablecoin and FX trading functionality once FXSwap arrives, and that Stellar’s stablecoin market is valued at $394 million, led by USDC.
29 October 2026 | 17:27 Circle booked $701.3 million in second-quarter revenue and reserve income, but most of it went to partners and costs, and USDC’s terms give holders no claim on the reserve interest.
Key Takeaways Coinbase-linked costs absorbed $324.6M of $701.3M. Circle kept $48.2M after costs and tax. Average USDC rose 25%; reserve income only 5%. Holder rewards come from platforms, not reserves. Where every $100 went Split into shares of $100, Circle’s quarter looks like this, based on its second-quarter results filed with the SEC on August 5:
$46.30 Coinbase-linked distribution costs
$12.50 other distribution, transaction and related costs
$4.90 operating income, rising to about $6.90 of net income after other income and tax
In dollars, the quarter ran as follows:
Total revenue and reserve income$701.3M
Distribution, transaction and other costs−$412.5M
Operating expenses−$254.5M
Operating income$34.4M
Other income, net+$17.9M
Income tax−$4.1M
Net income, continuing operations$48.2M
Rounded; steps may not sum exactly.
The $412.5 million line is the one that answers the headline. Most of it, $324.6 million, is tied to Circle’s agreements with Coinbase. The rest covers other partners, transaction costs and related items.
Why the reserve money isn’t Circle’s to spend The dollars behind USDC sit in reserves kept apart from Circle’s operating funds. According to Circle’s transparency page, they are held as cash and in the Circle Reserve Fund, which can own short-dated US Treasuries and overnight Treasury repurchase agreements. Those assets earn interest while staying ready to meet redemptions, and that interest is where most of Circle’s revenue comes from.
Holders have no claim on it. Circle’s USDC terms for users outside the European Economic Area state that holders are not entitled to interest or other returns earned on the reserves; EEA holders are covered by separate documentation.
Your dollar becomes USDC
↓
Reserves buy Treasuries and repo
↓
Interest goes to Circle
↓
Circle pays Coinbase and other partners
↓
A platform may choose to pay you a reward
More USDC, thinner returns Circle’s earnings release shows average USDC in circulation up about 25% from a year earlier, while reserve income grew only about 5%. The return on reserves fell by 0.66 percentage points as interest rates came down.
The quarterly filing puts numbers on the tug of war: roughly $147.4 million of extra reserve income came from having more USDC outstanding, and roughly $113.9 million was lost to lower yields. Circle still improved where it counts for its own margins. Revenue left after distribution, transaction and other costs rose about 15%.
How Coinbase’s share is worked out Coinbase’s cut comes in two parts. It receives income tied to the USDC held on its own platform, after an amount Circle keeps as issuer. It also takes half of what remains from USDC held elsewhere, once other partners’ allocations are paid.
That is why an exchange values USDC balances even when customers are not trading them: the balances earn the exchange money. Competing stablecoins use similar partner economics to win distribution, as Coindoo explained in its look at Open USD’s partner incentives.
When reading these numbers, keep the companies separate. Coinbase’s USDC income and Circle’s reserve income describe the same money from two sets of books, so adding them together counts it twice.
What you actually earn Any reward a holder receives comes from the platform, on the platform’s terms. Coinbase describes its USDC rewards as a loyalty programme it funds itself, with rates that vary by region and account type, eligibility rules, and the right to change or end it. Moving USDC to another wallet leaves the programme behind.
Membership fees can change the maths. Using hypothetical figures:
+$40
a year from $1,000 at 4%
−$120
a year for a $10 monthly membership
A holder paying for a membership only to unlock the reward would be $80 a year behind on those numbers, before tax. Real rates, balances and other membership benefits would change the result.
Spending USDC carries its own fees Paying with USDC adds a separate set of costs that never touch Circle’s accounts. Payment providers charge businesses for processing, screening, conversion and payouts. Stripe’s documentation, for example, describes customers paying in supported stablecoins while merchants are settled in local currency in their Stripe balance. As Coindoo noted in its piece on stablecoin conversion costs, what matters to the recipient is the amount they can actually spend, the total fees and how long the money takes to arrive.
Circle publishes its third-quarter results on November 4, with updated figures for circulation, reserve yields and partner payments.
This article is provided for informational purposes only and does not constitute financial or investment advice.
Author
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 5,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
Bridge virtual accounts on IPX will let creators and projects receive real-world revenue in USDC, enabling movement between bank accounts and smart contracts.
Bridge virtual accounts on IPX will let creators and projects receive real-world revenue in USDC, enabling movement between bank accounts and smart contracts.
MIAMI, FL, Oct. 28, 2026 — IPX, the agentic operating system and tokenized exchange for intellectual property, today announced its integration with Bridge, the stablecoin infrastructure company owned by Stripe. Launching November 15, 2026, the integration will give eligible users and projects on IPX access to a Bridge virtual account to move money between traditional bank rails and the platform’s smart contracts on Base, subject to onboarding and applicable eligibility requirements.
Projects will be able to use their Bridge virtual accounts to receive off-chain revenue, such as sponsorship payments, licensing fees and ticket sales, via wire transfers and ACH. Incoming dollars will be automatically converted into USDC and sent on-chain. From there, funds will be able to off-ramp back to a bank account, giving creators and partners fiat on- and off-ramps within the platform. Processing times will vary by payment rail, banking hours and required reviews.
The result is a payment flow designed for transparency, accountability and efficiency. Brands and backers will be able to track on-chain transactions, while creators and partners will have fewer hurdles when moving between bank accounts and on-chain assets. Revenue converted through Bridge and moved on-chain will be recorded on the same on-chain ledger as other transactions on IPX.
“Bringing Bridge into IPX closes the gap between the traditional economy and on-chain markets,” said Jordan Schlosser, CTO and Co-Founder of IPX. “Eligible users and projects on our platform will be able to open a Bridge virtual account and receive real-world revenue, from ticket sales to licensing fees, which will be automatically converted into USDC. Fiat on- and off-ramps that feed into programmable money can help creators and partners improve transparency, accountability and efficiency.”
Connecting traditional finance and on-chain assetsThe integration is intended to reduce friction and operational fragmentation for IPX-hosted projects by connecting traditional finance and decentralized finance for intellectual property. Translating fiat revenue into programmable on-chain assets will support the platform’s approach to IP management and fan-backed funding.
“Our vision has always been to deliver the promise of blockchain technology (transparency, speed and efficiency) without forcing users to navigate clunky web3 hurdles,” said Brendan McCafferty, Founder and CEO of IPX. “By blending traditional finance and crypto via Bridge, we are connecting traditional payments to on-chain assets, empowering creators and IP owners with financial infrastructure designed for the digital age.”
The Bridge integration will be live as part of the IPX OS and IPX Exchange launch on Base on November 15, 2026.
About IPXIPX is building an intellectual property economy centered on creators and the fans who support them. Its agentic operating system, tokenized launchpad and exchange, built on Base, connect original IP with fan-backed funding, AI-assisted production, sponsorship and distribution. IPX is headquartered in Miami, Florida. www.ipx.exchange
$36.36 billion in on-chain assets, with reserve ratios of 110% for BTC, 100% for ETH, 105% for USDT and 101% for USDC PoR anniversary follows the launch of OKX Shield in the U.S. and Europe, with nearly 45% of European VIP customers activating the protection program within weeks of launch OKX, a leading global cryptocurrency exchange and onchain technology company, today marked four years of its Proof of Reserves (PoR) program, with $36.36 billion in on-chain assets across 22 major cryptocurrencies. Reserves maintained at or above 100% for every asset covered in the report, including Bitcoin (BTC) at 110%, Ethereum (ETH) at 100%, Tether (USDT) at 105% and USD Coin (USDC) at 101%.
Since introducing Proof of Reserves in November 2022, OKX has made monthly reporting and independent verification central to how it operates.
The Proof of Reserves anniversary closely follows the launch of OKX Shield in the US and Europe, reinforcing OKX’s broader commitment to customer trust, security and asset protection.
Launched in October 2026, OKX Shield provides an additional layer of protection for eligible customers affected by unauthorized third-party account takeovers, with potential reimbursement of up to $500,000, subject to program terms and eligibility requirements, at no additional fee.
Within weeks of launch, nearly 45% of VIP customers, and more than 21% of daily active users in Europe have activated OKX Shield, with over 37% of customer assets in the region now covered by the program. Globally, nearly 16% of VIP customers have activated Shield.
Together, Proof of Reserves and OKX Shield demonstrate OKX’s continued investment in transparency, security and customer protection.
OKX has continued to develop its Proof of Reserves technology over the past four years, expanding asset coverage and improving the efficiency and accessibility of independent verification. The objective is straightforward: customers should not have to take an exchange’s word that their assets are backed. They should have the tools and information to verify it themselves.
The PoR program combines publicly accessible on-chain wallet data with advanced cryptographic verification, including zero-knowledge technology known as zk-STARKs, which allows customers to verify their holdings without exposing sensitive account information.
Former New York Governor, OKX Board Member Andrew Cuomo said:
“As digital assets become a more significant part of the global financial system, the standard for operating these platforms must be higher. Customers deserve access to the information and tools needed to verify that their assets are backed.
For four years, OKX’s Proof of Reserves program has provided that transparency through consistent, independently verifiable reporting. OKX Shield builds on the same principle of accountability by adding another layer of security and financial protection for eligible customers affected by unauthorized account takeovers.
Proof of Reserves addresses transparency and asset-backing risk, while Shield addresses the risk of unauthorized account takeovers. Together, they reflect what responsible digital-asset platforms must deliver: transparency, compliance, strong security and customer protection.”
OKX Europe CEO Erald Ghoos said:
“What stands out to me is how quickly our European customers acted. Within weeks of launch, nearly half of our VIPs and more than a fifth of daily active users had switched on Shield. People don’t need convincing that account security matters, they need it to be easy to use and built into the product. That’s the thinking behind our Proof of Reserves reporting too: the best protections are the ones customers actually use.”
OKX continues to invest in a broad security framework that includes advanced encryption and access controls, risk-management infrastructure, proactive threat detection and independently verifiable PoR reporting. These measures are intended to support a safer, more transparent digital-asset market as the industry continues to mature.
Customers can view the latest Proof of Reserves report and verify their assets here.
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This third-party press release is published substantially as received and does not reflect BeInCrypto's editorial views. BeInCrypto has not independently verified its claims or assessed the suitability, legality or appropriateness of any referenced asset, product or service; publication is not an endorsement. The content is general information, not investment research, financial, investment, legal or tax advice, a personal recommendation, offer or solicitation. Verify all information and seek professional advice where appropriate before acting. Crypto-assets may result in total loss.
Key Takeaways Viking Therapeutics reported a Q3 loss of $1.55 per share, missing estimates.R&D expenses rose 85.4% to $166.8 million, driven by higher clinical development costs.VK2735 phase III studies remain on track, with results expected in 2027.
Viking Therapeutics (VKTX - Free Report) reported a third-quarter 2026 loss of $1.55 per share, wider than the Zacks Consensus Estimate of a loss of $1.00. The loss widened 91.4% over the year-ago period, driven by higher operating expenses.
Viking generated no revenue, unchanged from the year-earlier quarter. Its lead obesity candidate, VK2735, is in four phase III registration studies. During the earnings conference call, CEO Brian Lian said the company was about two and a half years from a potential VK2735 launch.
VKTX's Operating Expenses Surge on Development WorkResearch and development (R&D) expenses climbed 85.4% year over year to $166.8 million. The increase primarily reflected spending on clinical studies, drug manufacturing, stock-based compensation and employee costs, partly offset by lower preclinical spending.
General and administrative expenses climbed 135.9% to $20.3 million due to legal and patent services, external consultants, stock-based compensation and employee costs.
Total operating expenses were $187.1 million, up 89.8% over the year-ago quarter.
VKTX Stock PerformanceYear to date, shares of the company have lost 22% against the industry’s 7% growth.
Image Source: Zacks Investment Research
Viking's VANQUISH Studies Remain on TrackVK2735 is an investigational dual GLP-1 and GIP receptor agonist being developed to treat obesity. The phase III VANQUISH-1 study targets adults with obesity, while VANQUISH-2 enrolls those with obesity and type II diabetes (T2D). The fully enrolled studies include roughly 4,500 and 1,000 participants, respectively.
Each study compares three VK2735 doses with placebo over 78 weeks, focusing on percentage weight loss. Viking expects the studies to finish in 2027. Extension studies are expected to begin in early 2027 and allow up to 52 additional weeks of treatment. Results from those extensions are anticipated in 2028.
VKTX Begins Phase III Testing of Oral VK2735In October, the company initiated the SUNRISE-1 and SUNRISE-2 studies of once-daily oral VK2735, targeting adults with obesity and those with overweight or obesity and T2D, respectively. Each 68-week study plans to enroll 560 patients and evaluate doses of 27.5 mg, 35 mg and 55 mg against placebo.
These studies follow phase II results showing mean weight loss of up to 12.2% after 13 weeks. Up to 80% of treated participants lost at least 10% of their body weight, versus 5% in the placebo group. Viking sees the tablet as a way to offer patients an alternative to injections.
Viking's Maintenance Study Shows Durable Weight LossIn the first part of its maintenance study, patients lost roughly 16% to 19% of baseline weight after 21 weeks of weekly injections. Participants transitioning to every-other-week injections retained 83% to 97% of that loss through week 33; those transitioning to monthly dosing retained 82% to 90%. The placebo-switch group retained 61%.
Another group receiving weekly 17.5-mg injections for 33 weeks achieved roughly 22% weight loss without a plateau. Management reported that adverse-event rates during less-frequent maintenance dosing were generally similar to placebo, supporting further study of more flexible regimens.
VKTX Expands Its Obesity Treatment PipelineViking recently initiated the second part of the VK2735 maintenance study in approximately 195 adults. After 21 weeks of weekly injections, patients will switch to daily oral treatment, injections every other week or monthly, or placebo. Data are expected in 2027.
The company is also advancing VK3019, a dual amylin and calcitonin receptor agonist. Its phase I single-ascending-dose study is nearing completion, with a four-week multiple-ascending-dose study planned for the first quarter of 2027. Management views VK3019 as a potential standalone obesity drug or future combination with VK2735.
Viking's Cash Position Supports Development PlansThe company ended September with $960 million in cash, cash equivalents and short-term investments, up from $706 million at year-end 2025. It raised about $575 million in gross proceeds from concurrent common-stock and convertible-note offerings, with net proceeds of approximately $550 million.
On the earnings call, management indicated that quarterly cash usage should average around $100 million, although individual quarters will vary. Near-term general and administrative spending is expected to remain relatively flat, with increases possible as commercialization approaches.
CEO Lian said Viking has a senior vice president overseeing commercialization who has worked on multiple obesity drug launches, along with leaders in market access, medical affairs and health economics. Viking has also added personnel in technical operations, chemistry, manufacturing and controls, supply chain, quality and compliance. These investments are intended to prepare for commercialization while late-stage studies advance.
VKTX’s Zacks RankViking currently carries a Zacks Rank #3 (Hold).
Our Key Picks Among Biotech StocksA couple of better-ranked stocks in the biotech sector include TG Therapeutics (TGTX - Free Report) and Amneal Pharmaceuticals (AMRX - Free Report) . While TGTX currently sports a Zacks Rank #1 (Strong Buy), AMRX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, earnings per share (EPS) estimates for TG Therapeutics have risen from 92 cents to 94 cents for 2026. Over the same period, estimates for 2027 EPS have increased from $2.65 to $2.66. TGTX’s shares have risen 93% year to date.
TG Therapeutics’ earnings missed estimates in three of the trailing four quarters and beat in the remaining one, with the average surprise being 184.65%.
Over the past 30 days, EPS estimates for Amneal Pharmaceuticals have increased from $1.03 to $1.04 for 2026. Over the same period, estimates for 2027 EPS have risen from $1.16 to $1.19. AMRX’s shares have surged 68% year-to-date.
Amneal Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 32.82%.
Why 2 Small Biotechs May Hold the Key to New Cancer TreatmentsIovance Biotherapeutics NASDAQ: IOVA reported updated data from its registrational IOV-LUN-202 trial of lifileucel in previously treated, non-squamous metastatic non-small cell lung cancer, outlining plans for a supplemental Biologics License Application submission in 2027 and a new biomarker-enriched study.
At an Oct. 14, 2026, data cutoff, 17 of 69 patients in Cohorts 1 and 2 had responded to treatment, representing an objective response rate of about 25% under RECIST 1.1 criteria, according to Interim Chief Executive Officer and President Fred Vogt. Fifteen responses were confirmed, including two complete responses, while two more recent responses were awaiting confirmation.
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3 Biotech Stocks to Watch: Iovance, Neurocrine & VikingVogt said the updated results were consistent with the company’s earlier findings in 39 patients across response rate, durability and safety. The study uses a reduced-dose lymphodepletion regimen before tumor-infiltrating lymphocyte, or TIL, infusion, which he said has improved the overall safety profile while remaining consistent with prior lifileucel experience.
The company is targeting approximately 80 patients for the final registrational data package. Iovance said the 69 patients reported, along with patients still in treatment and additional enrolled participants, represent most of that expected population. Enrollment in Cohorts 1 and 2 is expected to conclude shortly.
Regulatory Path and Durability
The Top 5 Analysts Ranked by MarketBeat and Stocks They CoverIovance continues to prepare for a supplemental BLA submission for lifileucel in non-small cell lung cancer during 2027. The company said independent review committee assessments, discussions with the Food and Drug Administration, manufacturing-related work and confirmatory trial preparations are ongoing.
During the question-and-answer session, Vogt said response-duration data remain immature. Based on a swimmer’s plot published in the company’s presentation, he said the data appeared to indicate duration of response of roughly one year at present, though he emphasized that a final assessment could not yet be made. He added that an eventual median duration of response of 18 months or more could be “reasonable” based on existing information, but said the final data will determine the outcome.
Vogt said the company expects a final data cutoff early in 2027. He also said FDA generally requires six months of follow-up from the last response, which could place a potential regulatory review into late 2027 or 2028 after a 2027 submission.
The company believes a durable 25% response rate from a one-time treatment could support approval in the broader population, though Vogt noted that discussions with the FDA remain ongoing.
Biomarker-Enriched Strategy
Iovance also presented a subgroup analysis identifying KRAS wild-type status as a potential biomarker associated with a higher response rate. Among 30 KRAS wild-type patients, 13 responded, for an objective response rate of 43.3%. That compared with four responses among 35 patients with KRAS-mutant tumors, or an 11.4% response rate.
The company further analyzed tumor genomic testing and smoking-history data. In a subgroup of patients with KRAS wild-type and HER2 wild-type tumors who were current or former smokers, 13 of 22 patients responded, producing an objective response rate of 59.1%. This subgroup represented less than one-third of the broader 69-patient population but accounted for 13 of the 17 reported responses.
Vogt said Iovance estimates that about 45% of newly diagnosed U.S. non-squamous metastatic non-small cell lung cancer cases could meet the biomarker-enriched criteria. He also said these patients lack targeted treatment options for mutant KRAS, HER2 or other drivers.
The company plans to prospectively evaluate the enriched population in a registrational-intent cohort called POSITILITY, which will be part of the ongoing IOV-LUN-202 program. Initial sites are expected to begin enrolling in November 2026, followed by expansion to more than 70 existing IOV-LUN-202 sites over the following months. The trial will enroll both PD-L1-negative and PD-L1-positive patients.
Frontline Study Plans
Iovance also cited results from Cohort 3A of its IOV-COM-202 study in frontline metastatic non-small cell lung cancer. In a biomarker-enriched subgroup of seven patients without actionable EGFR, ALK and ROS1 mutations, lifileucel combined with pembrolizumab produced six confirmed responses, including one complete response and five partial responses, for an objective response rate of 85.7%.
Across all 14 EGFR wild-type patients in that cohort, the company reported an objective response rate of 64.3%, or nine responses.
Based on those findings, Iovance plans to initiate the OPTILISM trial in 2027. The study is intended to evaluate lifileucel added to frontline standard care of pembrolizumab and platinum-based chemotherapy, regardless of PD-L1 status, in non-squamous patients with KRAS- and HER2-wild-type tumors and a current or former smoking history.
Vogt said the company is also evaluating whether its biomarker insights may apply to other solid tumors, including colorectal cancer, where Iovance is advancing its IOV-5001 program.
About Iovance Biotherapeutics (NASDAQ:IOVA)Iovance Biotherapeutics, Inc NASDAQ: IOVA is a biotechnology company focused on developing and commercializing personalized cell therapies for patients with cancer. Its technology is based on tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient's tumor, expanded outside the body, and reinfused to help attack cancer cells.
The company's lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved in the United States for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Iovance Biotherapeutics, Inc. (IOVA) Discusses Positive Lifileucel Data and Precision TIL Strategy in Non-small Cell Lung Cancer October 29, 2026 8:30 AM EDT
Company Participants
Sara Pellegrino - Senior Vice President of Investor Relations & Corporate Communications
Frederick Vogt - Interim CEO, President, General Counsel, Corporate Secretary & Director
Conference Call Participants
Lin Tsai - Jefferies LLC, Research Division
Yanan Zhu - Wells Fargo Securities, LLC, Research Division
Etzer Darout - Barclays Bank PLC, Research Division
Nicholas Lorusso - TD Cowen, Research Division
Jack Allen - Robert W. Baird & Co. Incorporated, Research Division
Presentation
Operator
Welcome to the Iovance Biotherapeutics conference call to review updated data from the IOV-LUN-202 trial in non-small cell lung cancer. My name is Carmen. I'll be your operator for today.
So as we were welcoming everybody to the Biotherapeutics conference call to review the updated data from the IOV-LUN-202 trial in non-small cell lung cancer. My name is Carmen. I'll be your operator for today. [Operator Instructions] And please note that this conference call is being recorded.
I will now turn the call over to Sara Pellegrino, Senior Vice President, Investor Relations and Corporate Communications at Iovance. Sara, you may begin.
Sara Pellegrino
Senior Vice President of Investor Relations & Corporate Communications
Thank you. Welcome to Iovance Biotherapeutics conference call to review updated data from IOV-LUN-202 in non-small cell lung cancer, and welcome to the webcast to review updated registrational trial data in previously treated non-squamous non-small cell lung cancer and our biomarker-enriched precision TIL strategy. This morning, we issued a press release and the slides for today's webcast are available in the Investors section of our corporate website at ir.iovance.com.
Speaking on today's call is Dr. Fred Vogt, Interim CEO and President. During the question-and-answer session, we will also be joined by Dr. Noah Berkowitz, Dr. Brian Gastman, Dr. Raj Puri, Corleen Roche and Dan Kirby.
SummaryRestaurant Brands International Inc. is rated neutral, with shares fairly valued for current top-line growth and muted upside.QSR reported Q3 revenue of $2.53B (+3.1% YoY, slightly below consensus) and EPS of $1.10 (+6.9% YoY, slight beat).Burger King outperformed with 8.4% domestic same-store sales growth, while Popeyes lagged due to competitive discounting.High net debt ($12.6B, 4.0x EBITDA) and macro headwinds limit upside; QSR management reaffirmed ~8% organic operating income growth.Looking for option income ideas that focus on capital preservation? I offer this and much more at my exclusive investing ideas service, BAD BEAT Investing. Learn More » justhavealook/iStock Unreleased via Getty Images
We have had a pretty strong market the last few years. One stock that has not gone anywhere really is Restaurant Brands International Inc. (QSR). The company is slowly growing sales and EPS
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Reddit slides into its Q3 earnings report carrying a 44% year-to-date loss and mounting questions about whether slowing U.S. user growth can be offset before Wall Street loses patience entirely.
Caution is building around Reddit (NYSE:RDDT | RDDT Price Prediction) as its Q3 2026 earnings report arrives, with worries about slowing U.S. user growth weighing on the stock. Reddit stock is at $128.56, down 5% in midday trading. That decline leaves Reddit stock down 44% year to date (YTD), deepening a rough stretch for one of social media’s fastest growers.
The Communication Services Select Sector SPDR Fund (NYSEARCA:XLC), which holds Reddit alongside its biggest social media rivals, is at $101.13, down 2%. Losses are milder across large caps, with the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) at $768.14, down 0.5%. Both funds are holding up better than Reddit.
Reddit Heads Into Its Q3 Report Under Pressure Reddit is scheduled to report Q3 results after the closing bell on October 29, and the selling reads as caution ahead of the release. On its July 30 call, Reddit reported U.S. daily active uniques of 53.2 million for Q2 2026, up 6%. International daily active uniques at Reddit grew 28% to 77.1 million, tilting growth toward markets that earn less per user. Per-user revenue shows the gap, since Reddit’s U.S. average revenue per user (ARPU) of $11.85 compares with $6.18 globally.
Guidance tells a similar story: Reddit’s Q3 forecast of $860 million to $870 million implies revenue growth of 47% to 49%, down from 61% in Q2. Earlier coverage examined how slower growth guidance loomed over Reddit’s earnings and whether Reddit Max can offset that slowdown.
Search traffic is the third pressure point. Speaking on the July 30 call, Reddit CEO Steve Huffman said that “Search referrals were choppy in the quarter, and traffic was more volatile later in the quarter.” In court, Reddit sued Perplexity AI and three other companies on October 22, 2025, over content allegedly scraped from search-engine results.
Snap and Pinterest Slide While Meta Climbs Snap (NYSE:SNAP) stock is at $5.70, down 4%, a decline that sits closer to Reddit’s than to the sector fund’s. Meanwhile, Pinterest (NYSE:PINS) stock is at $20.43, down 2%, a milder drop than Reddit’s. Both companies last reported in early August, Snap on August 3 and Pinterest on August 4, so neither has offered a fresh read on fall ad demand.
At the same time, Meta Platforms (NASDAQ:META) stock is at $627.96, up 3%, a move that cuts against the selling in smaller social names. Meta already reported Q3 2026 revenue of $64.6 billion on October 21, up 26.1% YoY. That quarter’s earnings per share (EPS) of $3.83 missed estimates because of a $9.89 billion legal settlement charge; without it, EPS would have been $7.40.
How Reddit’s Business Stands Apart From Snap, Pinterest and Meta Reddit makes money from interest-based communities where people trade firsthand opinions, earning mostly from ads and partly from licensing its content to AI developers. Snap runs a camera-first messaging app and is building direct revenue through subscriptions such as Snapchat+, while developing its SPECS augmented reality glasses.
Pinterest is a visual discovery platform built around shopping intent, and most of its users arrive directly through its app. That direct habit gives Pinterest a cushion Reddit hasn’t fully built yet, as Reddit converts web visitors into logged-in app users. Meta works at another scale entirely, pairing Facebook, Instagram and WhatsApp with one of the largest AI infrastructure buildouts anywhere.
What Reddit’s Q3 Report Has to Prove The next test for Reddit is whether its Q4 2026 revenue guide lands near the $1.05 billion to $1.06 billion that Wall Street’s full-year consensus implies. Reddit also needs its U.S. daily users to top their Q2 level, a figure now reported on a total basis since the company is dropping its separate logged-in and logged-out counts.
At 16x forward earnings, Reddit trades at the lowest multiple of the past year. Bulls point to six straight quarterly earnings beats, including Reddit’s Q4 2025 results, and see that discount as room for upside. The bears counter that Reddit stock tumbled the day of its last report despite a beat, and that uncertain AI licensing renewals could weigh on the multiple. A cautious approach may be warranted until the question of Reddit’s U.S. user growth resolves.
Contact [email protected] for any questions or corrections.
Bloomberg, Susquehanna, and Jump Trading are now among the firms reportedly paying up to $100,000 a month for early access to a presidential social media feed, and the conflict of interest drawing Senate scrutiny and federal lawsuits may be just
KuCoin has stopped serving customers in Russia and Belarus, becoming the third major crypto exchange to announce restrictions in the region within two weeks.
KuCoin said the decision took effect immediately and covered every product. Affected customers will receive individual deadlines to close positions and withdraw funds.
The exchange cited “applicable legal and regulatory requirements,” without naming any new rule or regulator. Its earlier announcements, however, provide clues.
The Sanctions Trail Started Months EarlierOn July 23, the European Union adopted its 21st Russia sanctions package, banning transactions with 14 foreign crypto platforms and creating powers to restrict other overseas providers used to evade sanctions.
Weeks later, KuCoin began blocking direct and indirect transactions involving services including A7-linked entities, Rapira and HTX.
Its September 29 notice expanded the restricted-counterparty list and warned that even intermediary-wallet connections could trigger reviews or account limits.
⚡️ BREAKING: The EU Has Adopted Its 21st Sanctions Package — Another Blow to Russia
The new sanctions target:
🔵 170 entities and 48 individuals.
🔵 More than 100 banks and cryptocurrency operators.
🔵 Over 40 vessels from Russia's "shadow fleet."
🔵 Several oil refineries in… pic.twitter.com/pCCw0NCvAV
— NEXTA (@nexta_tv) July 23, 2026 That sequence makes sanctions exposure a strong possible explanation for the withdrawal. It does not establish that Brussels ordered KuCoin to leave.
KuCoin also has reasons to take European scrutiny seriously. Austria’s financial regulator restricted new business at its EU subsidiary in February over gaps in anti-money-laundering and sanctions-compliance appointments.
It lifted that ban in May, while separate operational restrictions remained.
The retreat is spreading. Bitget restricted users in Russia, Belarus, and Kazakhstan after an October 16 terms update. MEXC announced its Russia-Belarus exit on October 20.
How Many KuCoin Users Could Be Affected?KuCoin has published no country-level account numbers. But Semrush estimates Russia generated 1.03 million visits to KuCoin’s website in September, accounting for 3.93% of global visits and making Russia its third-largest traffic source.
KuCoin says it has more than 45 million global users. Applying Russia’s web-traffic share to that figure suggests roughly 1.77 million Russian registrations.
That is an illustrative estimate, not a verified affected-user count: visits are not unique people, mobile-app use is missing, and many registered accounts may be inactive.
Belarus adds an unknown number. The number receiving closure notices could be much smaller.
The cryptocurrency exchange has ended access to all products and services for users in both countries, with arrangements for affected users to close positions and withdraw assets.
Cryptocurrency exchange KuCoin has announced the immediate discontinuation of its services for users in Russia and Belarus, citing applicable legal and regulatory requirements as part of its broader commitment to compliance across its global operations.
The decision, announced on October 29, 2026, applies to all KuCoin products, services, and features. The exchange said the move reflects its continued focus on regulatory compliance and responsible business practices across its global operations.
For cryptocurrency exchanges operating internationally, navigating different legal and regulatory requirements is an ongoing operational challenge. Rules governing access to digital asset services can vary between jurisdictions, requiring platforms to assess where and under what conditions they can continue serving users.
Against this backdrop, KuCoin’s decision highlights how compliance considerations can directly influence the geographic availability of cryptocurrency services. The exchange has positioned regulatory adherence as a fundamental part of its operations, while outlining measures to manage the impact on affected users.
Despite the immediate discontinuation of services, KuCoin has committed to an orderly termination process, allowing affected users to close existing positions and withdraw their assets.
Users whose accounts are affected will receive individual notifications detailing the relevant deadlines and instructions for account closure. Those who have not received a notification are not required to take any immediate action, although their accounts remain subject to KuCoin’s Terms of Use and applicable restrictions.
The process also highlights an important consideration when cryptocurrency platforms withdraw services from specific markets: ensuring users receive clear instructions and have a means of accessing their assets. In KuCoin’s case, the exchange has stated that safeguarding user assets remains a priority throughout the termination process.
KuCoin has made customer support available to assist users with account-related questions and advised them to rely exclusively on official communication channels for updates and instructions, while remaining vigilant against potential phishing attempts.
The full announcement is available on KuCoin’s official announcement.
AUTHOR
Simeon is a detail-driven editor who sharpens every piece with clarity and precision, ensuring clean, consistent, and professional content throughout.
The exchange cited legal and regulatory compliance in its reason for cutting off services to users based in the two countries, currently the targets of international sanctions.
Cryptocurrency exchange KuCoin announced that it would immediately suspend services for its users in Russia and Belarus, citing legal and regulatory compliance concerns.
In a Thursday notice, KuCoin said it had suspended access to all products and services for users based in Russia and Belarus. According to the exchange, it would offer an “orderly exit process” to allow users to withdraw assets.
“Compliance is at the core of our operations and guides our decisions on where and how we offer our services,” said the exchange in a Thursday X post regarding the service suspension.
The move comes as many crypto companies are complying with international sanctions led by the United States and Europe against Russia and Belarus over the war in Ukraine. KuCoin is headquartered in the Seychelles.
Separately, Russia’s central bank on Thursday approved the National Association of Securities Market Participants, commonly known as NAUFOR, as a self-regulatory body for crypto exchanges and custodians. The central bank’s registry currently includes 23 crypto exchanges and eight digital custody institutions, with registered entities required to join a self-regulatory organization within 90 days.
Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
The exchange cited legal and regulatory compliance in its reason for cutting off services to users based in the two countries, currently the targets of international sanctions.
Cryptocurrency exchange KuCoin announced that it would immediately suspend services for its users in Russia and Belarus, citing legal and regulatory compliance concerns.
In a Thursday notice, KuCoin said it had suspended access to all products and services for users based in Russia and Belarus. According to the exchange, it would offer an “orderly exit process” to allow users to withdraw assets.
“Compliance is at the core of our operations and guides our decisions on where and how we offer our services,” said the exchange in a Thursday X post regarding the service suspension.
The move comes as many crypto companies are complying with international sanctions led by the United States and Europe against Russia and Belarus over the war in Ukraine. KuCoin is headquartered in the Seychelles.
Separately, Russia’s central bank on Thursday approved the National Association of Securities Market Participants, commonly known as NAUFOR, as a self-regulatory body for crypto exchanges and custodians. The central bank’s registry currently includes 23 crypto exchanges and eight digital custody institutions, with registered entities required to join a self-regulatory organization within 90 days.
Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
We hear you: ZCG gets more ZEC than it needs. Its 8% of every block now brings in far more than it can spend well.
So here’s what we’d like to do about it: cut our own funding, give back what we don’t need, and put it toward future block rewards instead. ZEC in the NSM is out of circulation, and it’s paid to miners slowly, over decades. ZCG is exploring a proposal to do it, and we wanted to share the idea before we write it up in full.
In all, about 98,000 ZEC goes from ZCG to future block rewards.
The Idea : Same 20%, security that doesn’t run out
Every four years, the block reward that pays miners to secure Zcash is cut in half. One day it will be close to nothing, and Zcash will still need to be secure. We think Zcash should start saving for that day now.
Keep the 20% at 20%. Taper the grants. Fill the NSM.
Why Not Send It All to the NSM Now? : The reserve has to last
Other drafts send the Dev Fund to the NSM straight away, but only until the 2028 halving. That fills the reserve fast, then it drains, leaving 20,000–49,000 ZEC by 2040.
The taper fills it more slowly, but keeps going. With ZCG’s donation, it keeps filling the reserve to 2032 and leaves over 200,000 ZEC still in reserve for miners in 2040.
Better for Miners : When it matters most
The 2028 halving is harder: miners earn about 20% less in 2029 and 2030, and a little less in 2031–32. After that, every halving is softer, and from 2033 miners earn more than current law every year: about 10% more in 2033, 30% more in 2037 and around 50% more in 2041. That’s right when the block reward is smallest and security matters most.
Summary : What changes, and what doesn’t
What changes
What doesn’t change
What’s Next
This is a first look, not the final proposal. We’re writing up the full version with all the details: the numbers, the consensus changes and the trade-offs. Then the community decides, through Zcash’s usual governance process.
Until then, tell us what you think
0
voters
Thanks,
Zcash Community Grants Committee (ZCG)
8 Likes
I like this proposal.
1 Like
Lets loot at a slightly lower rate
It is obvious ZCG/ZCAP has no idea what the issue is. 90%+ of coinholders hate how money is being spent (for instance, at sex conferences with actual sex workers selling themselves while representing Zcash). This bled over into holders realizing ZCG/ZCAP don’t care what coinholders think.
The issue: there can be no taxation without representation. ZCAP is an insular group. You spent 100s of millions in todays dollars on ZSAs which the community voted down by 90% and then kept spending money on it. You elect yourselves to spend money on yourselves with block rewards. It’s a parasitical system and this flaw is deeply immoral when trying to sell Zcash as money.
Maxime has done an outstanding job at documenting how much looting and self serving ZCAP is.
We don’t want you to loot the coffers less, we want to end the block subsidy going to a parasitical group so that Zcash can be sold as fair money.
The original post does nothing to alleviate our concerns - there can be no taxation without representation in a fair money system.
1 Like
This proposal is infuriating.
Not only does it conveniently extend ZCG’s mandate until 2032, it also does not solve the actual issues at hand.
ZCG allocated a $455K grant to ZSAs using coinholder money, after coinholders voted at 98.6% against ZSAs. This is unacceptable.
Our money is, as we speak, actively being deployed against our own interests. Coinholders are paying for these grants, are paying for the salaries of ZCG committee members, and are the end users. They should be in control.
“It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.” — Thomas Sowell
The reality is that no committee, whether elected by ZCAP or coinholders, can prosper. Committees never work. ZCG is akin to central planning in communist regimes, it cannot work.
The only acceptable solution is to completely abolish ZCG. Let the free market handle it.
4 Likes
Wait!? ZCG can cut it’s own funding?
1 Like
Mind bringing up a proposal that’s NOT either ZSA or ZECsy? ZSAs were a mandate for nearly 4 years, and it was merely being extended. Even then, why only these two?
4 Likes
They can voluntarily decide to hold or redirect it, which is part of why I want them to become a fiat trust instead, governed by a legally binding document.
1 Like
(Image description: Cypherpunk, which Maxime Desalle has a relation to, uses committees extensively, including an Audit Committee, a Nominating Committee, and most ironically, a Corporate Governance Committee)
Why don’t you talk to Tyler at Winklevoss about how you feel about committees?
1 Like
thowar2
9
This proposal completely fails to address the concerns of the community:
The unaccountability of ZCG and ZCAP when it comes to spending Coinholder inflated funds
The dangers of adversaries being able to take over the funds via ZCAP
Any justification for what ZCG could use such a still large amount of money for
Completely missed the mark.
5 Likes
But then you can also argue that the sum is only large because of the current ZEC hype cycle. When ZEC was $200 just a couple months back, nobody had any concerns.
But yes, the core issue is accountability, which is only solved by radical restructuring.
i like this idea. still need to think more about it and I would love to see the complete proposal so i can better evaluate it, but this is a good direction that addresses part of the concerns, while keeping the program running. seems like a good middle-ground settlement to stop the ongoing governance wars (which is escalating too quickly in a negative way), but I’m yet to make my mind on that with certainty.
can you please provide the source for this data? where did you take the “90%+” from?
i’ve started seeing claims like this one with an increased frequency, and this is concerning.
this is concerning because it’s obvious entitlement of other people’s money. very similar to socialist/communist regimes often criticized in the same posts where these claims have landed. for example:
ZCG’s money is nobody’s but ZCG’s money. it’s allocated under a well-documented, governance-approved system, inherent part of zcash’s protocol.
if you don’t like the current state of zcash’s protocol and want to change it: FINE!
i believe we should always keep the culture and ethos of improving ZEC in different ways – governance included.
but as it’s today, this money clearly belongs to ZCG.
it’s “our money” as much as a miner’s reward is “our money”. it isn’t.
miner’s block rewards belong to the miner who produced the blog, per the protocol.
ZCG’s allocation from the block rewards belong to ZCG, per the protocol, following the same logic.
please, stop calling other people’s money yours. this is the wrong way of campaigning for what you believe is an improvement in zcash governance. it also makes the whole argument look weak, as it seems based in this false premise of entitlement to other people’s money.
EDIT: removed my last question because i found the answer to it later.
3 Likes
But they aren’t. Miners are, and this was decided by consensus in ZIP 1016, and they will be continue to be paid until 2028. Coinholders never raised concerns against it, neither did they raise concerns in this community. All pushback was about ZCG’s structure, not ZIP 1015/1016 itself. All of this pushback is largely corporate, so centered that I can name everyone involved in less than a page.
Unless… the “coinholders” are actually miners? So your proposal is to redirect money to just… miners?
When Sowell said that, he was referring to the bureaucrats and administrators in the American system, and the full quote ends with
“Know-it-alls in the school system do not lose one dime or one hour’s sleep if their bright ideas turn out to be all wrong, or even disastrous, for the child.”
He was talking about decisions that impact others, but in this case, the money is already earmarked by coinholders for the purpose, so it is not impacting anyone.
Other than miners, that is.
3 Likes
Maxime isn’t getting money from block rewards that makes it much harder for me to onboard bitcoiners. ZCAP/ZCG does.
The committees at Winklevoss capital use their money, not mine. Do you see how this works?
can you please provide the source for this data? where did you take the “90%+” from
The 98% no funding vote on ZSAs vs ZCAP/ZCG funding them anyways. It is likely higher than 90% (that block rewards with no representation of holders should be funding active sex workers at sex parties) but I was being generous to your side.
1 Like
Samriddha
14
‘Free market’… I am sure you want it to happen for the sake of the free market, and not for your employers who stand to make what—like tens of millions MORE a year if ZCG goes down
True, which is, again, why I advocate for cessation and restructuring, not dissolution. But even then, a true Bitcoin maximalist would never use a coin, no offense intended, who did a founders reward program at any point. What sort of maximalists are you talking to?
These committees are a legal requirement in a public company.
And I wonder why the US Securities and Exchange Commission would feel fit to, require, in your words, “[something that] never works”. Hmm… a question for the ages…
And if they are so bad, why go public?
artkor
18
Dear Maxim, I wrote about this on Twitter, but I’ll repeat that the question in the Protocol Feature Sentiment Poll for NU7 (the results of which were explicitly described as advisory and non-binding on their own, though I personally consider it the most important voting option) was: “What is your general sentiment toward including Zcash Shielded Assets (ZSAs) as a protocol feature?”
This was not a vote on whether to halt all work on ZSA. Therefore, ZCG sought available options to preserve the work already done until the community could decide what to do with it next. There were certain loose ends that needed to be tied up; otherwise, we risked losing the value of the work already funded.
4 Likes
This. They are reiterating the same 2,3 grants while ignoring the hundreds of others. Not to mention ZSAs were and still are supported by core protocol developers including those funded by Winklevii.
The same Winklevosses that said, and I quote, “we must end the USAID of Zcash”
do you mean the 98% of the 7.25% turnout from all ZEC in circulation?
and that was a well-documented sentiment polling, not a binding decision, especially because of how low the turnout is?
(fwiw, it’s a fairly reasonable turnout against the shielded supply (~24.5%), but i would argue it’s far from being able to represent the sentiment of all zec coinholders with accuracy as something conclusive).
Bitcoin is the best crypto to buy now for a core position, while Zcash is the higher-risk trade with a defined, dated catalyst. Bitcoin trades near $80,000, about 36% below its October 2025 record of $126,080, and Zcash has moved into the market’s top ten with a roughly $21 billion capitalization. Both assets are being repriced this week around one policy decision: the Federal Reserve’s October 28 vote to hold its benchmark rate at 3-3/4 to 4 percent, with two officials dissenting in favor of another increase. Bitcoin dipped below $80,000 on the statement before recovering, and Zcash gave back part of a months-long climb. The next major input is the September personal-consumption-expenditures report, the Federal Reserve’s preferred inflation gauge.
What the FOMC’s 10–2 Hold Means for BitcoinThe Federal Open Market Committee left the federal funds target range unchanged at 3-3/4 to 4 percent, the range it has held since a quarter-point increase in September. In the statement released at 2:00 p.m. Eastern on October 28, the committee said it “decided to maintain the target range for the federal funds rate at 3-3/4 to 4 percent, in support of the Federal Reserve’s dual mandate.”
The result was not unanimous. “Voting against the monetary policy action were Lisa D. Cook and Beth M. Hammack, who preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting,” the statement read. A 10–2 hold is a hawkish hold, not a dovish one: two of the twelve voting members are already on record in favor of tightening, which keeps a December increase on the table.
On inflation the committee was direct: “Inflation remains elevated.” That line matters for Bitcoin because it keeps restrictive monetary conditions alive, and non-yielding assets compete against Treasury yields for capital when the rate path points higher rather than lower. Bitcoin fell to an intraday low of $79,636 after the decision before recovering to about $80,042, down 1.6% over 24 hours, per CoinGecko. Ether fell about 2.1% to $2,315. BlockchainReporter laid out the December test for Bitcoin after the decision in its coverage of the Fed’s hold.
Zcash’s Quantum-Resistance Roadmap Keeps It in the Top TenZcash is the coin to watch in the speculative half of a best-crypto list. ZEC trades near $1,247, down about 5.2% over 24 hours but up 0.8% over the week, with a market capitalization near $21.2 billion — good enough for the tenth spot in the crypto rankings, per CoinGecko. Its 21-million supply cap is the same as Bitcoin’s, and roughly 17.01 million ZEC are already circulating. The all-time high of $3,191.93 was set October 28, 2016, ten years to the day before this week’s Fed decision.
The catalyst is structural rather than a single announcement. Zcash activated its Ironwood shielded pool on July 28, 2026, introducing note formats designed to keep funds recoverable if current cryptography is later broken by a quantum computer. The governing specification, ZIP 2005 (“Ironwood Quantum Recoverability”), remains in “Proposed” status, and its authors are careful about what it does not do. “This change does not by itself make Zcash secure against attacks using quantum computers, but is a necessary and substantial step toward that goal,” the ZIP states.
On October 18, the Zcash node-software team Zakura published a follow-up proposal for post-quantum unlinkable swaps, aimed at a specific weakness in cross-chain trades through NEAR Intents. “Until Tachyon ships, there is a glaring hole: a single published shielded address lets a quantum attacker link every payment that address’s key has ever received,” the post reads. The team frames the fix as something wallets can adopt quickly: “We set out to build a fix that wallets can deploy today.” BlockchainReporter has tracked Zcash’s quantum-resistant payments timeline separately.
The Math Behind the Two TradesA 2x on Bitcoin is not the same as a 2x on Zcash, and the difference is the market capitalization each would require. Bitcoin’s market cap is roughly $1.61 trillion at $80,042, so a double to $160,000 would mean adding about $1.6 trillion of new value — a move that depends on a wave of new capital rather than a catalyst alone.
Zcash’s path is arithmetically easier. At $1,247 with 17.01 million coins in circulation, ZEC’s market cap is about $21.2 billion. To match Solana’s current $59 billion capitalization, ZEC would need to reach roughly $3,468 — a 2.8x from here. To match BNB’s $98 billion, it would need about $5,760, a 4.6x. A 10x to $12,476 would lift Zcash’s market cap near $212 billion, above every asset except Bitcoin and Ether. These are arithmetic ceilings, not forecasts; whether any of them happens depends on the quantum narrative holding.
Put in dollar terms: $1,000 in ZEC at $1,247 buys about 0.80 ZEC, worth roughly $2,780 if Zcash reaches Solana’s market cap. The same $1,000 in Bitcoin buys about 0.0125 BTC, worth $2,000 only if Bitcoin doubles.
The Skeptical Case for Both AssetsThe clearest risk to Bitcoin this week is policy, not chain fundamentals. If the September PCE report prints hot, the December dissent could become a majority, and the two officials who wanted a hike Wednesday are already on record. If inflation cools instead, the higher-for-longer pressure on Bitcoin eases and the $80,000 floor has a better chance of holding.
For Zcash, the risk is that quantum resistance remains a story rather than a product. The Ironwood pool is live, but ZIP 2005 is still proposed, and the Zakura swap fix is a wallet-level proposal that has not yet been adopted by major wallets. ZEC’s 5.2% daily decline on October 29, against a 0.8% weekly gain, shows how quickly the trade can give back. Privacy assets also carry a standing regulatory risk that Bitcoin does not, which is worth weighing before sizing a position.
Frequently Asked Questions
What is the best crypto to buy right now?For a core position, Bitcoin is the lower-risk choice at roughly $80,042 — about 36% below its October 2025 record — while Zcash is the higher-risk trade with a defined quantum-resistance catalyst. Neither is a certainty, and position size should reflect the gap between the two.
Why is Bitcoin down today?Bitcoin dipped to an intraday low of $79,636 after the Federal Reserve held rates at 3.75–4% on October 28 on a 10–2 vote, with two officials dissenting in favor of a hike. The statement warned that “inflation remains elevated,” keeping restrictive monetary conditions on the table. BTC has since recovered to near $80,000.
What is Zcash’s price today?ZEC traded near $1,247 at the 09:37 UTC print on October 29, down 5.2% over 24 hours, with a market capitalization of about $21.2 billion and a top-ten ranking, per CoinGecko.
Is Zcash actually quantum-resistant now?No. Zcash’s Ironwood shielded pool, activated July 28, 2026, is designed to make funds recoverable if cryptography is later broken, and ZIP 2005 remains in “Proposed” status. The network is taking steps toward quantum resistance, but its shielded transactions are not yet post-quantum secure.
Will the Federal Reserve hike rates in December?Two FOMC members — Lisa Cook and Beth Hammack — already dissented in favor of a quarter-point increase in October. A hot September PCE report would strengthen the case for a December hike, while cooler inflation would weaken it. The committee has not committed to either path.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
AUTHOR
Jide Idowu is a skilled freelance writer with expertise in blockchain technology, cryptocurrency, and digital finance. Known for his ability to break down complex topics into clear, engaging content, Jide crafts articles, blog posts, and analyses that resonate with both beginners and seasoned professionals. His work spans a wide range of subjects, from emerging crypto trends to in-depth explorations of blockchain innovations. With a keen eye for detail and a passion for educating readers, Jide is a reliable voice in the rapidly evolving world of digital assets.
Yesterday, Fed left the federal funds rate unchanged despite inflation risks. During the press conference, Fed Chair Warsh said that the move was not influenced by upcoming midterm elections.
Anyway, traders believe that Fed will be forced to raise rates in December due to high oil prices and strong economy. Accoring to FedWatch Tool, the probability of a rate hike at the next meeting is 79.6%. At this point, the market believes that Fed will also raise rates in March 2027.
Interestingly, Treasury yields moved lower despite worries about potential rate hikes from the Fed. The yield of 2-year Treasuries declined towards the 4.66% level, while the yield of 10-year Treasuries pulled back below the psychologically important 5.00% level. I’d note that falling Treasury yields did not provide support to gold markets in today’s trading session.
U.S. dollar pulled back against a broad basket of currencies as forex traders focused on falling Treasury yields. Weaker dollar is bullish for dollar-denominated commodities as it makes them cheaper for buyers who have other currencies. However, dollar’s pullback did not provide support to gold as traders focused on longer-term Fed policy outlook.
Today, traders also focused on ECB Interest Rate Decision. The European Central Bank left the interest rate unchanged, in line with analyst expectations. ECB also signaled that it could raise rates at the next meeting in December.
Currently, gold is trying to settle below the support level at $4000 – $4020. In case this attempt is successful, gold will head towards the next support, which is located in the $3890 – $3910 range. RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.
Brookfield Real Assets Income Fund Inc. delivers high monthly yields via leveraged, high-yield fixed income exposure in real assets but suffers persistent NAV erosion. RA's double-digit yield is not covered by portfolio income, resulting in a significant return of capital and long-term NAV decline since inception. There is one positive that prevents us from putting a Sell on this.
GE Vernova NYSE: GEV gave investors plenty to like in its third-quarter report, released before the open on Wednesday, Oct. 28.
GE Vernova Today
$889.18 +11.15 (+1.27%)
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Revenue climbed 27% to $12.6 billion, comfortably ahead of the roughly $12 billion analysts expected, and earnings of $4.81 per share beat the $4.03 consensus. Orders nearly doubled on an organic basis to $29.3 billion, while total backlog grew by $20 billion in a single quarter to $197 billion.
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Management also raised its 2026 outlook for revenue, margins, and free cash flow, and doubled its share repurchase authorization to $20 billion.
Still, the stock slid as much as 6.6% intraday before closing down about 2% for the day, leaving it 27% below its 52-week high.
That reaction says a lot. With AI infrastructure stocks under pressure, a bigger backlog alone no longer impresses the market. The more important question is what that backlog is actually made of, and how much of it is turning into firm business.
Reservations Are Becoming Firm OrdersGE Vernova reports its gas turbine commitments in gigawatts, split into two buckets. Firm backlog consists of signed equipment orders. Slot reservation agreements hold a customer’s place in the production line, but they aren’t orders yet.
As of June 30, the company had 53 GW of firm backlog and 63 GW of slot reservations. In the third quarter, it converted 13 GW of reservations into firm orders, up from 10 GW the prior quarter, while shipping 5 GW of equipment. That pushed firm backlog up to 64 GW and brought reservations down to 58 GW, for 122 GW under contract in total.
Notably, that’s the shift management pointed to last quarter, with firm orders now outweighing reservations. The company also raised its year-end goal to at least 130 GW under contract, up from 125 GW.
Production Is Keeping PaceOf course, converting reservations only matters if GE Vernova can actually build the turbines. The company planned to reach 20 GW of annual gas turbine output in the third quarter, and shipping 5 GW that quarter is consistent with that pace. At that rate, today’s 64 GW of firm backlog equals more than three years of production, with output targeted to climb to 24 GW in 2028 and 30 GW in 2030.
Pricing, Margins, Electrification, and WindPricing continues to do a lot of the heavy lifting. Power orders soared 178% organically to $21.8 billion, driven by higher volume and price, and the segment’s EBITDA margin widened 800 basis points to 21.4%. Management raised its full-year Power margin outlook to 19%-21%, up from 17%-19%.
Electrification was more mixed. Orders fell 9% organically to $5.4 billion, though that comparison was skewed by large synchronous condenser orders a year earlier, and the book-to-bill ratio was about 1.4. Revenue jumped 51% to $3.9 billion, equipment backlog reached $42.2 billion, and the company agreed to buy grid equipment maker Trench Group for $9 billion.
Wind remains the weak link, even after an improved quarter. The segment turned a small EBITDA profit of $72 million in Q3. Still, management now expects full-year segment losses of $400 million to $500 million, wider than the roughly $400 million it previously guided to.
The Bull Case Against Peak MomentumFor the bulls, the story is that conversion is speeding up. More reservations are becoming firm orders, margins are expanding, free cash flow guidance jumped to $16 billion to $17 billion, and management expects backlog to top $200 billion in the fourth quarter. Analysts remain constructive too, with a Moderate Buy consensus and an average price target of $1,164.87, implying about 33% upside.
The more cautious view centers on new business. GE Vernova signed 11 GW of new gas contracts in the quarter, down sharply from 20 GW in the second quarter, with new slot reservations falling to 8 GW from 18 GW. In July, a Barclays analyst, in a downgrade of rival Siemens Energy OTCMKTS: SMEGF, said peak orders, peak free cash flow, and peak supply tightness could all arrive together in 2026. A slowdown in new signings is arguably exactly what that view would be watching for.
Firmer Backlog, Slower SigningsOverall, the quarter showed GE Vernova’s backlog improving in quality, even as the pace of new signings cooled. More commitments are now firm orders, and production appears to be keeping pace. Whether that’s enough to win back the market, or whether investors stay focused on slowing reservations, could go a long way in shaping the stock’s next move.
GE Vernova Inc. (GEV) Price Chart for Thursday, October, 29, 2026
From a technical perspective, for bullish momentum to return, the stock will first need to reclaim its 200-day simple moving average (SMA) near $950. Until then, momentum appears to favor the bears.
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GE Vernova's earnings call revealed something unusual about its gas turbine business: buyers are now reserving factory slots years into the future, and that desperation is reshaping how much power generation actually costs.
GE Vernova (NYSE:GEV | GEV Price Prediction) held its third-quarter earnings call on October 28, 2026, and the main news was how much more it now charges for gas turbines. Chief Executive Scott Strazik said “full year [2026] gas orders pricing per kW will be approximately 50% higher than full year [2025] orders.”
He also said the company sold delivery slots for 2032 during the quarter. The stock fell anyway, dropping as much as 6% to about $845 early in the session and closed at $878.03.
The 50% figure is GE Vernova’s own order price per kilowatt of generating capacity. It applies only to the company’s own orders, and the full year has not been booked yet.
What GE Vernova Disclosed on Turbine Pricing
The comparison covers full-year 2026 orders against full-year 2025 orders. When an analyst asked, Strazik said pricing is “up directionally 50%”. He added that the product mix moves quarterly numbers around, so the full-year comparison is the better measure.
Third-quarter orders were priced more than 20% above fourth-quarter 2025 equipment orders. A larger share of aeroderivatives, smaller turbines based on jet engines, helped. Management expects fourth-quarter pricing per kilowatt to come in below the third quarter because more 50 Hertz units will move from reservations.
AI accounts for part of the demand. GE Vernova has approximately 100 gas customers in 25 countries. About 80% are traditional customers such as utilities, and 20% are buying for data centers. Data center orders across the company now total more than $6 billion so far in 2026.
Short Supply of Factory Slots Lets GE Vernova Raise Prices
Utilities, industrial buyers and hyperscalers are all trying to buy from the same limited production lines. In the third quarter, GE Vernova shipped 5 gigawatts while signing 11 gigawatts of orders and slot reservations. A slot reservation is a deposit that holds a future spot on the production line. Gas equipment under contract rose to 122 gigawatts from 116 gigawatts.
Strazik said, “This quarter, we sold multiple slots for [2032] delivery as the demand environment remains strong.” When buyers are willing to book that far ahead, sellers have more room to raise prices.
Orders signed at these prices will ship years from now, so the benefit shows up in revenue and margins as the backlog is delivered. Power segment EBITDA margin rose 800 bps to 21.4%. Rising costs or production problems could still reduce those gains before the turbines ship.
Pricing strength shows in the results: orders of $29.3 billion, up 96%, supported raising free cash flow guidance to $16 billion to $17 billion from $11.5 billion to $12.5 billion, cash that helps fund the $9 billion Trench Group deal.
Why Shares Slipped After a Strong Report
Expectations were already high after a big run, with shares up 54.14% over the past year. The lower fourth-quarter pricing outlook likely weighed on shares.
The decline started before the report. Shares fell 10.64% on October 22. They now sit 14.7% below the October 6 close of $1,029.21, the highest close of the past month, and about 26.6% below the 52-week high of $1,195.94.
The 50-day moving average (the average closing price over the last 50 trading days) is $939.16. That sits below the 200-day average of $942.39, which signals fading momentum. Even for a company with a market value of $234.03 billion, the Trench deal adds integration risk.
What GE Vernova’s Next Report Needs to Show
Order pricing up about 50%, deliveries booked into 2032, and a customer base made up mostly of utilities give GE Vernova years of higher-margin revenue. That revenue should hold up even if AI spending cools off.
The pullback brings down the share price while the order book keeps growing. The fourth-quarter report will test that view. It should show backlog above $200 billion and at least 130 gigawatts of gas equipment under contract. If either number falls short, or the shares can’t get back above the 200-day average, the case gets weaker.
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TLDR Ethena Pay launched Earn+, a vault that loops USDe and USDT at about 11 times leverage and advertises up to 12% APY. The USDe price feed used on Aave follows USDT, so it may not detect a USDe-only drop in value. At 11x leverage, a 2% USDe discount would erase 22% of a user’s starting equity, before costs. A 1% rise in USDT borrowing costs would cut simple yearly returns on equity by about 10%. Withdrawals can be requested anytime and are processed within 24 hours, though Ethena Pay warns they can take longer. Ethena Pay has launched a new yield product called Earn+. It advertises returns of up to 12% APY, but its design carries risks that may not show up in reported numbers.
The product was announced on Oct. 28. It uses USDe as collateral and borrows USDT against it, aiming for about 11 times leverage.
Earn+ is run by Upshift and Steakhouse through Aave v4 on Avalanche. Ethena Pay provides the app that users see.
The Price Feed Follows a Different Token Lending platforms use price feeds, called oracles, to value collateral and debt. Aave uses these prices to measure how close a position is to being liquidated.
In an Oct. 20 technical review, Aave Labs said the USDe price feed on Avalanche follows USDT. It noted that this setup would miss a drop in USDe’s price that does not affect USDT.
The feed uses a Chainlink USDT/USD price with a $1.04 upper cap. If USDe slips while USDT holds steady, the vault could look healthy while users lose real value.
LlamaRisk, in a recommendation amended Oct. 19, proposed a 93% collateral factor for USDe. The exact vault account, its current balances, and its live oracle setup have not been verified.
CryptoSlate modeled a hypothetical position at 11 times leverage. In that example, $100 of equity supports 1,100 USDe against 1,000 USDT of debt.
If USDe falls to $0.99, equity drops 11%. At $0.98, the loss is 22%, and at $0.95, it reaches 55%, before fees and costs.
Borrowing Costs and Withdrawals Because debt equals ten times the starting equity, borrowing costs matter. A 1% increase in the yearly USDT borrow rate would cut simple annual return on equity by about 10%.
Interest also adds to debt over time, which can lower a position’s health. Aave Labs noted that plain USDe does not earn yield on its own, unlike staked sUSDe.
Ethena Pay waives its own entry and exit fees. However, Upshift’s documents allow for management fees, performance fees, and a fee for instant redemption. A fee schedule specific to Earn+ has not been confirmed.
Upshift’s risk rules let an owner multisig pause withdrawals and trigger emergency withdrawals. Its redemption system includes a standard batch queue and an instant option funded by a cash buffer.
Ethena caps total Earn+ deposits at $4.5 million. Individual limits are $20,000 for Standard users, $50,000 for Pro, and $200,000 for VIP.
Ethena Pay as a whole holds more than $8 million in USDe and has about 1,400 active users. The app is live in 47 countries, with the US, EU, and UK listed as coming soon.
Ethena Pay says withdrawal requests have no lock-up and are processed within 24 hours. Its FAQ warns that some withdrawals can take longer.
Chainlink 24/7 blends extended-hours data with perpetual futures quotes so tokenized assets keep a live price when Wall Street goes home
Wall Street takes weekends off. Blockchains do not, and that mismatch has been an awkward problem for anyone putting stocks onchain.
Oracle provider Chainlink is now trying to fix it. The company is rolling out Chainlink 24/7, a service that keeps pricing stocks, commodities and other traditional assets through weekends and holidays. Decentralized lender Aave is signed on as the launch partner.
How Chainlink 24/7 fills the weekend gap Start with what an oracle does. Blockchains cannot see the outside world, so oracles act as couriers that deliver outside data, like a share price, to smart contracts.
Chainlink’s answer is to stitch together several sources into one continuous price. During the week, the service uses data from regular trading hours plus extended sessions. Chainlink’s existing 24/5 coverage already includes pre-market, post-market and overnight trading.
When traditional markets shut down entirely, the service switches to aggregated quotes from perpetual futures venues. Perpetual futures are derivatives with no expiry date, and they trade around the clock on crypto-native exchanges.
The data is delivered through Chainlink’s Data Feeds and Data Streams products. According to the research shared with the announcement, the service removes the need for protocols to manually juggle and adjust multiple separate feeds. For developers, that means one integration instead of a patchwork, and fewer places for something to break.
Why Aave cares about Saturday prices Aave is the largest DeFi lending protocol by total value locked. Its interest here is practical rather than philosophical.
Aave plans to use the Chainlink 24/7 Data Feeds on Horizon, its institutional lending platform. The goal is continuous valuation of tokenized real-world asset collateral, beginning with high-volume US equities.
Here is why that matters. Lending protocols constantly check whether a borrower’s collateral still covers their loan. If the collateral is a tokenized stock and its price freezes from Friday night until Monday morning, the protocol is effectively flying blind for the weekend.
The partnership also extends an existing relationship. Aave had already adopted pieces of Chainlink’s infrastructure, including its 24/5 streams. Adding weekend coverage is the logical next step, not a leap.
Building on the 24/5 rollout Chainlink’s 24/5 US Equities Streams arrived in 2026. Since January 2026, that coverage has supported pricing for over $1.6 billion in tokenized assets across six blockchain networks.
The roster of users is not a list of hobby projects. Ondo, xStocks, Robinhood and Coinbase are among the names working with Chainlink on tokenized stock pricing. That mix spans crypto-native issuers and some of the biggest retail brokerage and exchange brands in the US.
The 24/5 product already pushed coverage well past the traditional trading day. The last remaining hole was the weekend, plus holidays. Chainlink 24/7 is designed to close it.
What this means for DeFi and tokenized assets The most direct beneficiaries are lending protocols like Aave that want to accept tokenized stocks as collateral. A continuous price feed makes it easier to set loan terms, monitor positions and manage liquidation risk without arbitrary weekend blackouts.
For institutions, the pitch is about plumbing. Horizon is aimed at institutional users, and those users tend to care a lot about risk controls before they commit capital. A feed that gives a defensible price at 2 a.m. on a Sunday removes one more objection from the list.
There are open questions worth watching. The weekend price relies on perpetual futures venues, which are a different market from the stock exchange itself. How closely those futures quotes track where a stock actually opens on Monday will determine how much protocols trust the weekend number.
Another thing to track is how quickly Horizon expands beyond its initial set of high-volume US equities. Starting with heavily traded names makes sense, since those are likely to have the deepest futures markets behind them.
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Chainlink announced the launch of Chainlink 24/7, a service that delivers round-the-clock market data for traditional assets such as stocks and commodities to on-chain markets, covering weekends and holidays to fill the pricing gap for US equities between Friday evening and Sunday evening, as well as on non-trading days. The service is delivered via Chainlink Data Feeds and Data Streams: during trading hours, it leverages existing 24/5 session data, while after traditional markets close, it aggregates quotes from multiple perpetual contract platforms to form a single continuous price reference. Official launch partner Aave is utilizing the 24/7 Data Feeds for its institutional lending platform Horizon to provide round-the-clock pricing for tokenized real-world asset (RWA) collateral, with initial coverage of high-volume US stocks. Chainlink noted that its 24/5 offering already provides delayed pricing for nearly half of tokenized stocks, supporting the pricing of over $1.6 billion in tokenized stocks across six blockchains for projects including Ondo, xStocks, Robinhood, and Coinbase.
Traditional financial markets close for the night. Blockchain markets don’t have that luxury, and Chainlink 24/7 aims to close the gap. Launched at Link, the new service provides continuous pricing data for equities, commodities, and other real-world assets (RWAs), including weekends and market holidays.
The timing matters. Tokenized financial products need reliable prices even when their traditional markets are shut, particularly when those assets serve as collateral in onchain lending.
Chainlink 24/7 Tackles Markets That Never SleepChainlink 24/7 delivers continuous market data across trading sessions, giving decentralized finance protocols access to pricing information beyond conventional market hours.
The proposed use cases extend beyond simple price tracking. Prediction markets and perpetual futures could use the service to support round-the-clock trading and settlement, while lending protocols could monitor tokenized collateral when traditional exchanges are closed.
Investors could also manage positions and associated risks outside standard trading hours. That’s increasingly relevant as financial products move onto blockchain networks, where activity doesn’t stop when Wall Street clocks out.
Still, continuous data availability isn’t a magic fix. Its value depends on the reliability of the underlying information and how protocols use it.
Aave Adoption Brings Institutional Lending Into FocusAave is adopting Chainlink 24/7 to provide always-on pricing for institutional RWA lending. The integration highlights a practical challenge for onchain finance: collateral valuations must remain dependable even when traditional markets aren’t actively trading.
Without continuous pricing, lending protocols can face difficulties assessing collateral during market closures. A reliable data connection could help institutions manage that gap as tokenized assets become part of onchain lending strategies.
The announcement positions Chainlink 24/7 as infrastructure for financial products that need to operate continuously, rather than following conventional exchange schedules.
NEW: Chainlink 24/7 launches at Link:NYC, unlocking always-on pricing for tokenized RWAs.
Chainlink 24/7 delivers continuous market data for equities, commodities, and other real-world assets across trading sessions, weekends, and market holidays, enabling:
→ Prediction markets… pic.twitter.com/imXJLQNbrf
— Chainlink (@chainlink) October 29, 2026 During a live conference on X, Chainlink co-founder Sergey Nazarov said the network holds approximately 65% of the global market share in infrastructure serving much of decentralized finance and onchain lending.
That figure underscores the importance of reliable data infrastructure as traditional and decentralized financial products increasingly interact.
The broader opportunity isn’t simply putting assets onchain. It’s connecting markets, data, and financial applications without compromising reliability.
Can Always-On Pricing Accelerate Tokenized Finance?Chainlink 24/7 and Aave’s adoption highlight a growing requirement for tokenized finance: markets may operate continuously, but their infrastructure must keep pace.
If the service delivers dependable pricing outside conventional trading hours, it could support more flexible lending, derivatives, and risk management. Chainlink 24/7 is targeting that need, although adoption and performance will ultimately determine its impact.
Story Ends Here
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