Market Signal Briefing

Zymeworks Inc. (NASDAQ:ZYME) Shareholder/Analyst Call October 23, 2025 3:30 PM EDT

Company Participants

Sabeen Mekan - Senior Vice President of Clinical Development
Stuart Barnscher

Conference Call Participants

Patricia LoRusso
Mayank Mamtani - B. Riley Securities, Inc., Research Division
Yigal Nochomovitz - Citigroup Inc., Research Division
Jonathan Miller - Evercore ISI Institutional Equities, Research Division
Lut Ming Cheng - JPMorgan Chase & Co, Research Division
Yue-Wen Zhu - LifeSci Capital, LLC, Research Division

Presentation

Operator

Thank you for standing by. This is the conference operator. Welcome to Zymeworks conference call to discuss initial results from the Phase I trial of ZW191. [Operator Instructions] The conference is being recorded. [Operator Instructions]

I would now like to turn the conference over to Dr. Sabeen Mekan, Senior Vice President of Clinical Development of FarmWorks. Dr. Mekan. Please go ahead.

Sabeen Mekan
Senior Vice President of Clinical Development

Good afternoon. Thank you for joining our call discussing the highlights from our presentation on preliminary Phase I trial results for ZW191 at the AACR-NCI-EORTC Conference on molecular targets and cancer therapeutics to date in Boston.

Before we begin, I would like to remind you that this presentation contains forward-looking statements, and we encourage you to review our latest SEC filings for a full breakdown of risks and uncertainties related to any forward-looking statements we make during today's presentation. On today's call, Stuart Barnscher, Senior Director of ADC Development at Zymeworks will begin by providing a review of the design rationale and scientific principles that guided the development of ZW191.

Following this, Dr. Patricia LoRusso, Professor of Medicine at Yale Cancer Center will then summarize highlights from the initial Phase I clinical data as presented at the conference. Lastly, I will outline next steps for ZW191, including our development path forward. At the end of the call, Dr. LoRusso and I will be available for Q&A. As a reminder, the audio and

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Coursera, Inc. (NYSE:COUR) Q3 2025 Earnings Call October 23, 2025 5:00 PM EDT

Company Participants

Cam Carey - Head of Investor Relations
Gregory Hart - CEO, President & Director
Kenneth Hahn - Senior VP, CFO & Treasurer

Conference Call Participants

Josh Baer - Morgan Stanley, Research Division
Bryan Smilek - JPMorgan Chase & Co, Research Division
Stephen Sheldon - William Blair & Company L.L.C., Research Division
Ryan MacDonald - Needham & Company, LLC, Research Division
Rishi Jaluria - RBC Capital Markets, Research Division
Claire Gerdes - UBS Investment Bank, Research Division
Nafeesa Gupta - BofA Securities, Research Division
Ryan Griffin - BMO Capital Markets Equity Research

Presentation

Operator

Ladies and gentlemen, thank you for standing by, and welcome to Coursera's Third Quarter 2025 Earnings Call. [Operator Instructions] And this call is being recorded. [Operator Instructions] I would now like to turn the call over to Cam Carey, Vice President of Investor Relations. Mr. Carey, you may begin.

Cam Carey
Head of Investor Relations

Good afternoon. Thank you for joining us for Coursera's Q3 2025 Earnings Conference Call. Today, I'm joined by Greg Hart, our President and Chief Executive Officer; and Ken Hahn, our Chief Financial Officer. Following their prepared remarks, we will open the call for questions. Our earnings press release was issued after market close. It is available on our Investor Relations website at investor.coursera.com, where this call is being webcast live and where versions of today's materials, including our quarterly shareholder letter, have been published.

During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP measures to the most directly comparable GAAP measure can be found in today's earnings press release and supplemental materials. Please note that all growth percentages discussed refer to year-over-year change unless otherwise specified. All statements made during this call relating to future results and events are forward-looking statements

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Analyst’s Disclosure:I/we have a beneficial long position in the shares of MTDR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Alaska Air Group (ALK - Free Report) came out with quarterly earnings of $1.05 per share, missing the Zacks Consensus Estimate of $1.11 per share. This compares to earnings of $2.25 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -5.41%. A quarter ago, it was expected that this airline would post earnings of $1.56 per share when it actually produced earnings of $1.78, delivering a surprise of +14.1%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Alaska Air, which belongs to the Zacks Transportation - Airline industry, posted revenues of $3.77 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.32%. This compares to year-ago revenues of $3.07 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Alaska Air shares have lost about 26.4% since the beginning of the year versus the S&P 500's gain of 13.9%.

What's Next for Alaska Air?While Alaska Air has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Alaska Air was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.03 on $3.69 billion in revenues for the coming quarter and $2.95 on $14.28 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Airline is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Controladora Vuela (VLRS - Free Report) , has yet to report results for the quarter ended September 2025. The results are expected to be released on October 27.

This operator of low-cost airline Volaris is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -112.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Controladora Vuela's revenues are expected to be $785.01 million, down 3.4% from the year-ago quarter.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of CRDO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Azelis Group NV (OTCPK:AZLGY) Q3 2025 Sales Call October 23, 2025 3:00 AM EDT

Company Participants

Anna Bertona - Group Chief Executive Officer & Executive Director
Thijs Bakker - CFO & Executive Director

Conference Call Participants

Stijn Demeester - ING Groep N.V., Research Division
Suhasini Varanasi - Goldman Sachs Group, Inc., Research Division
Chetan Udeshi - JPMorgan Chase & Co, Research Division
Annelies Vermeulen - Morgan Stanley, Research Division
Nicole Manion - UBS Investment Bank, Research Division
Luuk Van Beek - Banque Degroof Petercam S.A., Research Division
Hannah Harms - BNP Paribas Exane, Research Division
Eric Wilmer

Presentation

Operator

Good morning, and welcome to Azelis' Nine-month Trading Update Call. As usual, we have Anna, Group CEO; and Thijs Group CFO, with us. Anna will give a high-level overview of our performance and a few words on the outlook at the end of the presentation. Thijs will walk us through the numbers.

We will take questions after the presentation, but until then you will be on listen-only more. We would like to remind you that the presentation and Q&A may contain forward-looking statements that are subject to risks.

Now let me hand you over to Anna.

Anna Bertona
Group Chief Executive Officer & Executive Director

Thanks, Ben, and good morning, and thank you for joining us today.

I will go off script a bit here and open the call by addressing our announcement regarding our group CFO. As you have read, after 10 years of service, Thijs has decided that it's time for him to move on and get cracking with new challenges outside of Azelis. Thijs started at Azelis three years after I did, and I was then CEO of EMEA, and he decided to fill in the open EMEA CFO position of interim next to its group role, originally for a short time, but he continued in this role until I moved to

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The carrier issued a temporary ground stop and advised travelers to check for delays before heading to airports.

For the quarter ended September 2025, Alaska Air Group (ALK - Free Report) reported revenue of $3.77 billion, up 22.6% over the same period last year. EPS came in at $1.05, compared to $2.25 in the year-ago quarter.

The reported revenue represents a surprise of +0.32% over the Zacks Consensus Estimate of $3.75 billion. With the consensus EPS estimate being $1.11, the EPS surprise was -5.41%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Alaska Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Passenger Load Factor: 84.8% versus the five-analyst average estimate of 85%.Economic fuel cost per gallon: $2.51 versus the four-analyst average estimate of $2.53.Available seat miles (ASM): 24.45 billion compared to the 24.7 billion average estimate based on four analysts.Total revenue per ASM (RASM): 15.41 cents versus the four-analyst average estimate of 15.85 cents.Revenue passenger miles (RPM): 20.74 billion compared to the 21.04 billion average estimate based on four analysts.Passenger Yield: 16.51 cents versus 17.04 cents estimated by three analysts on average.Operating expenses per ASM, excluding fuel and special items: 11.23 cents compared to the 11.51 cents average estimate based on three analysts.Fuel gallons: 303.00 Mgal compared to the 298.12 Mgal average estimate based on three analysts.Total Passenger Revenue: $3.42 billion compared to the $3.53 billion average estimate based on five analysts.Revenue- Loyalty program other revenue: $200 million versus $213 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +17% change.Revenue- Cargo and other: $142 million versus the four-analyst average estimate of $145.61 million. The reported number represents a year-over-year change of +77.5%.Operating Revenues- Passenger - Hawaiian: $768 million versus the two-analyst average estimate of $699.93 million.View all Key Company Metrics for Alaska Air here>>>

Shares of Alaska Air have returned -9.9% over the past month versus the Zacks S&P 500 composite's +0.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

Federal Reserve Governor Christopher Waller recently made headlines by acknowledging that cryptocurrency, particularly Bitcoin, has become an integral part of the U.S. financial system. This recognition signals a shift in the regulatory landscape and indicates that crypto has achieved a level of maturity, prompting traditional financial systems to embrace digital assets more openly.

Key Takeaways
What is the next expected price move for XRP?
Despite the aggressive buying activity in the Futures market, the price action firmly pointed toward an XRP drop to $2 or lower.

What needs to happen to change this bearish outlook?
An XRP rally beyond the overhead supply zone that extended up to $2.8 would be the first step to shifting the price’s direction bullishly.

Last week’s news of Ripple [XRP] stepping into the digital asset treasury (DAT) landscape sent the media into a frenzy. It was leveraging its on-chain infrastructure to deliver seamless payment solutions.

This news did not stabilize the fearful sentiment in the market, but it did reinforce the conviction of long-term investors.

The ongoing government shutdown has delayed the SEC’s approval process for the XRP exchange-traded funds (ETFs).

Ripple’s treasury push fails to lift market mood
In a post on X, crypto analyst Maartun pointed out that the Co-Founder of Ripple, Chris Larsen, had realized over $764 million in profits since January 2018.

These come from XRP sales, which the analyst observed tended to occur around local market tops.

He wrote that while Larsen booked profits, XRP holders continued to hold the bag.

Trader KriptoMessi observed that the XRP Futures Taker CVD had turned bullish over the past few days.

The XRP market dominance was also set to rebound from where it usually has responded over the past year.

Additionally, 30k Bitcoin [BTC] sent to exchanges for profit-taking on the 21st of June 2021, didn’t stop Bitcoin’s rally to $69k. Neither will Larsen’s XRP sales, wrote the user.

XRP coils within a familiar pattern once again

Source: XRP/USDT on TradingView

The pattern of lower highs and equal lows was occurring once again. In fact, the price action in recent months moved within a descending triangle.

Highlighted in cyan, and beneath the imbalance on the daily chart between $2.5-$2.77, the prospects of a bullish breakout appeared slim.

Even though the weekly market structure was bullish, XRP appeared likely to falter beneath the $2.3 support level. Popular crypto analyst Ali Martinez agreed with this idea, posting that the next key target is $2.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories.
His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity.
Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution.
As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

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Ein Bitcoin-Wallet aus dem Jahr 2009 wurde nach 14 Jahren wieder aktiv und bewegte 150 BTC im Wert von rund 16 Millionen Dollar.
Analysten sehen darin keinen Verkauf, sondern eine technische Neuorganisation der Bestände.
Trotz der symbolischen Bedeutung bleibt der Einfluss auf den Markt gering und vor allem psychologischer Natur.

Ein Relikt aus den Anfängen von Bitcoin ist plötzlich wieder aufgetaucht. Eine Adresse, die noch aus der mysteriösen Satoshi-Ära stammt, hat nach über 14 Jahren Ruhe 150 BTC bewegt. Der unerwartete Transfer weckt alte Spekulationen über verschollene Miner, vergessene Schlüssel und mögliche Marktreaktionen. Doch wie gefährlich ist dieses Erwachen wirklich für den Kryptomarkt?

Ein Stück Bitcoin-Geschichte erwacht
Ein Bitcoin-Wallet aus dem Jahr 2009 hat nach über 14 Jahren erstmals wieder Aktivität gezeigt. Die Adresse, die in den Anfangstagen der Kryptowährung rund 4.000 BTC gemint haben soll, übertrug in dieser Woche 150 BTC im Wert von rund 16 Millionen US-Dollar. Das ist die erste Bewegung seit Juni 2011 – eine Zeit, in der Bitcoin noch kaum bekannt war und nur wenige Enthusiasten an seine Zukunft glaubten.

Die damals verdienten Coins hatten beim letzten Zugriff einen Wert von nur knapp 68.000 Dollar. Heute steht die Summe für ein kleines Vermögen. Der Vorgang zeigt, wie rasant sich der Wert von Bitcoin seit den Anfängen entwickelt hat und wie viele frühe Miner durch Geduld oder Vergessen zu Multimillionären wurden.

Seltene Aktivität aus der Satoshi-Ära
Solche Bewegungen aus der sogenannten Satoshi-Ära sind extrem selten. Laut Daten des Analyseunternehmens Glassnode werden nur wenige Wallets aus der Zeit vor 2011 überhaupt noch aktiv. Das weckt regelmäßig großes Interesse, da diese Coins geschürft wurden, als Bitcoin-Erfinder Satoshi Nakamoto selbst noch online diskutierte und Beiträge in Foren veröffentlichte.

Jede Bewegung alter Coins löst Spekulationen aus – könnten es Satoshi selbst sein oder frühe Mitstreiter? Historisch betrachtet führen diese Ereignisse oft zu kurzfristiger Unruhe an den Märkten, da Anleger Verkäufe befürchten. Doch bisher hat sich fast immer gezeigt: Die meisten dieser Transfers dienen rein technischen oder organisatorischen Zwecken.

Psychologische Wirkung statt Marktschock
Der Zeitpunkt des Transfers ist bemerkenswert. BTC handelt derzeit um die Marke von 110.000 Dollar, nachdem die Kryptowährung Anfang des Monats von einem Rekordhoch über 126.000 Dollar gefallen war. Der Markt hat jüngst den größten Liquidationsschock seiner Geschichte erlebt, mit fast 19 Milliarden Dollar an aufgelösten Positionen.

In einem so sensiblen Umfeld wirken Bewegungen großer, alter Bestände wie ein psychologischer Auslöser. Doch rein faktisch spielt die Transaktion kaum eine Rolle. Die 150 BTC entsprechen einem winzigen Bruchteil des täglichen Handelsvolumens von mehr als 20 Milliarden Dollar. Der Effekt liegt also nicht in der Marktmechanik, sondern in der Wahrnehmung.

Les hier, wieso einige Experten bei BTC noch dieses Jahr eine Rally bis 250k sehen.

Warum die Coins jetzt bewegt wurden
Analysten nennen mehrere mögliche Gründe für den Schritt. Der Inhaber könnte seine Bitcoins in eine moderne, besser gesicherte Wallet übertragen haben, um sie vor Verlusten oder technischen Risiken zu schützen. Ebenso denkbar sind Erbschaftsregelungen oder einfache Funktionstests alter Wallets.

Bislang gibt es keine Hinweise darauf, dass die Coins an Börsen gesendet wurden, was auf einen geplanten Verkauf hindeuten würde. Auch frühere Fälle, etwa in den Jahren 2021 und 2023, führten zu keiner nachhaltigen Preisbewegung. Stattdessen stellte sich meist heraus, dass die Besitzer lediglich ihre Guthaben restrukturierten.

Ein Blick auf den aktuellen Markt
Die allgemeine Stimmung am Kryptomarkt bleibt vorsichtig. Nach dem starken Preisrückgang Anfang des Monats schwankt BTC nun in einer engen Spanne zwischen 108.000 und 111.000 Dollar. Viele Anleger warten auf neue Impulse, während Analysten über mögliche Korrekturen diskutieren.

In dieser Phase werden On-Chain-Daten besonders aufmerksam verfolgt. Bewegungen alter Wallets dienen dabei als Erinnerung an die Ursprünge des Netzwerks – und an das enorme, bislang unberührte Vermögen früher Miner. Es zeigt, dass ein großer Teil des Gesamtbestands von BTC noch immer in den Händen einer kleinen, historischen Gruppe liegt.

Hier kommst du zu unserer detaillierten Prognose für Bitcoin.

Mehr Symbolik als Substanz
Letztlich dürfte das Erwachen dieses 14 Jahre alten Wallets keine fundamentale Auswirkung auf den Markt haben. Der Vorgang ist eher ein Symbol für die Beständigkeit und Geschichte der Kryptowährung als ein Signal für bevorstehende Verkäufe.

Für viele Investoren ist es ein faszinierender Einblick in die frühen Tage von Bitcoin – eine Erinnerung daran, dass digitale Werte auch über Jahrzehnte hinweg Bestand haben können. Solange die Coins nicht auf Börsen auftauchen, bleibt die Bewegung reine Statistik und kein Grund zur Panik. So zeigt diese Geschichte doch auch besonders eines: Wie lange es schon BTC gibt und wie weit Bitcoin als Projekt gekommen ist.

Das bedeutet auch, dass neue Projekte, die sich an Bitcoin orientieren und dessen Sicherheit und Zuverlässigkeit benutzen, durchaus auch noch zukünftig Potenzial haben, so wie Bitcoin Hyper.

$Hyper: Eng verbunden mit der Stärke von Bitcoin
Bitcoin Hyper baut direkt auf dem BTC-Netzwerk auf und erbt damit dessen Sicherheit und Vertrauen. Es erweitert Bitcoin um das, was bisher fehlte – Geschwindigkeit, niedrige Gebühren und Smart Contracts. Wenn Bitcoin stark performt, profitiert auch $Hyper, denn sein Fundament ist untrennbar mit BTC verbunden. Steigt das Interesse an Bitcoin, wächst auch die Nachfrage nach Lösungen wie Bitcoin Hyper, die echte Nutzung ermöglichen.

Lies hier eine langfristige Prognose für Bitcoin Hyper!

Bitcoin Hyper Presale
$HYPER: Der Token, der mit BTC wächst
$HYPER ist der Treibstoff desHyper-Ökosystems – sicher durch Bitcoin, effizient durch Solana. Wenn BTC langfristig zulegt und stärker in den Alltag und institutionelle Nutzung rückt, dürfte auch $HYPER profitieren. Denn wo BTC die Basis ist, bietet Bitcoin Hyper die Anwendung – und beide stärken sich gegenseitig.

Les hier, wieso einige Experten bei BTC noch dieses Jahr eine Rally bis 250k sehen.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

As Bitcoin continues to mature as an asset class, a growing trend is emerging: Bitcoin whales, some of the largest holders of the cryptocurrency, are transitioning their wealth from the blockchain into traditional financial markets. According to a recent Bloomberg report, these large Bitcoin investors are increasingly using spot Bitcoin exchange-traded funds (ETFs) to move their holdings into the world of traditional finance (TradFi) without having to sell their precious coins.

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In a wide-ranging Coin Stories interview published October 21, David Marcus—co-founder and CEO of Lightspark, former president of PayPal and co-creator of Diem, the cryptocurrency project initiated by Facebook—laid out a thesis that Bitcoin will ultimately surpass gold in value and evolve from a purely “store-of-value” asset into the invisible, neutral settlement layer of the internet for money.

How Bitcoin Could Reach $1.5 Million
“I think Bitcoin will be more valuable than gold,” Marcus told host Natalie Brunell. “At today’s gold price, it’s, you know, $1.3 million a bitcoin that [it] will have a higher market cap than gold.” He emphasized he is “decent at directional predictions” but “terrible at timing,” framing the trajectory as inevitable over a five-to-ten-year horizon rather than a near-dated call. The implication of outgrowing gold’s market capitalization places Bitcoin’s potential value well north of $1.3 million per coin and, at Gold’s recent ATH at $4,381.58/oz, above $1.53 million.

Marcus’s price view is inseparable from his broader contention that BTC must progress beyond a narrow “digital gold” narrative. Echoing a line from analyst Matt Pines that Brunell cited—“if Bitcoin is only a store of value, it has failed”—Marcus agreed “fully,” but added a critical caveat: the savings-asset phase was a necessary precondition for utility.

“We believe that the store-of-value phase is absolutely essential for us to be able to actually build a utility phase of Bitcoin on top of it,” he said, arguing that institutional adoption, ETFs and nation-state accumulation conferred enough legitimacy to begin scaling real-world payments. “Now that every institution… whether it’s BlackRock, Fidelity or others, are actually supporting Bitcoin… we can actually really start building payment utility on top of it.”

That utility vision hinges on using Bitcoin more like TCP/IP—an invisible settlement substrate—than as a volatile unit of account for everyday spending. Marcus was blunt about behavioral and economic constraints: “People don’t want to use Bitcoin for everyday purchases because it’s volatile and people want to actually benefit from appreciation… they don’t want to be the Bitcoin pizza guy.”

Lightspark’s approach is to move fiat end-to-end while using BTC in the middle. “You can send dollars from a US bank account to someone in Mexico receiving Mexican peso… the settlement asset is Bitcoin in between. So you have dollars, Bitcoin, Mexican peso and it’s invisible to people using it.”

Technically, Lightspark is pushing beyond Lightning’s channel model while remaining backward-compatible. Marcus lauded Lightning’s trust model and speed, but highlighted its liquidity and self-custody frictions when scaled to “billions of endpoints.”

The company’s newly launched “Spark” is described as a Lightning-compatible, non-channel payment system that enables spinning up “billions of wallets” with “minimal new trust assumptions.” Crucially, he said, it preserves safety valves: “It’s not as trustless as Lightning, but we believe it’s trustless enough and has unilateral exits to Layer 1… you can pull a rip cord and no one can prevent you from recovering your funds on L1.”

Stablecoins And Adoption
Marcus also argued that stablecoins—despite their centralized issuer model—are an unavoidable component of global payments, and that anchoring them to BTC’s settlement layer enhances resilience. He described a personal “schizophrenic journey” with stablecoins, disliking the “single throat to choke,” yet accepting their ubiquity and attempting to minimize trust by avoiding separate gas tokens and preserving unilateral exits to Bitcoin L1.

On adoption, Marcus pointed to shifting institutional sentiment. Recounting a panel in New York “put together by Citadel Securities,” he said a “majority” of a roughly 450-person room of large traditional-finance investors indicated they own BTC, versus far fewer holding ETH, stablecoins, or any token. “This is a room that traditionally would have been very resistant to Bitcoin… now the times have changed so profoundly.” Yet he still framed retail penetration as early, estimating “low hundreds of millions” of unique holders globally and significant headroom from there.

Overall, Marcus’ thesis returns to first principles: BTC as neutral, scarce, programmable collateral and a credibly decentralized settlement layer. Dismissing critiques that it lacks “intrinsic value,” he argued, “Underlying scarcity of Bitcoin secured by code is the intrinsic value… this is the only thing that’s deflationary by nature.”

That, he contends, is why Bitcoin should outcompete gold over time: “When the first gold ETFs were launched, they started mining more gold. You can’t do that with Bitcoin.” If and when that market-cap crossover arrives, it would validate the structural call embedded in his remarks—and, by extension, the headline-grabbing notion that BTC’s fair value is not just above seven figures, but ultimately “more valuable than gold,” which today maps to $1.5 million.

At press time, BTC traded at $109,060.

BTC needs to break above the 1.0 Fib, 1-day chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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The market is in a transitional phase, where a recovery might happen at any given moment. But at the same time, investors should be ready for a rapid downturn since no movement is guaranteed, with high volatility on assets like SHIB, DOGE and BTC. 

Technical stage switch for SHIBShiba Inu and Dogecoin, two of the most well-known meme cryptocurrencies, have both entered significant technical stages and are displaying unique triangular patterns on their daily charts. Both tokens are getting closer to possible breakout points that could determine their trajectories for the remainder of Q4, as volatility is compressing and sentiment on the larger altcoin market is unclear. 

SHIB/USDT Chart by TradingViewSHIB is currently attempting to stabilize close to a fundamental support level at $0.0000099 following weeks of volatility and one of its steepest drops in months. This region is technically more significant because it falls within a zone that has been tested several times in the last six months. From a charting standpoint, SHIB is positioned inside a long-term descending triangle, which is enclosed by a strong descending resistance (black 200-day MA) and a lower trendline that is gradually rising. 

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While the lower boundary near $0.0000095 has consistently offered support, every attempt to break above the $0.000012-$0.000013 range has been rejected. It is noteworthy that the Relative Strength Index (RSI) is still at about 38, suggesting that the market is somewhat oversold but has not yet shown a clear reversal signal. Additionally, trading volumes have been continuously declining, which may indicate that market players are awaiting confirmation before deciding on a course. 

Strong resistance is waiting at $0.000013-$0.000014, where a breakout above $0.0000115-$0.000012 might rekindle confidence. A close below $0.0000090, on the other hand, would render the support structure void and expose SHIB to a more severe retracement — perhaps all the way to $0.0000075. 

A neutral-to-bullish bias is supported by on-chain data: SHIB's exchange reserves have been declining, which suggests that holders are taking their tokens out of centralized platforms — usually an indication of long-term accumulation. If selling pressure keeps decreasing, this might reduce the amount of potential downside. 

Dogecoin's similar triangleWith resistance and support lines closely convergent, Dogecoin, which is presently trading at $0.193, is likewise forming a symmetrical triangle. The direction of this pattern is still unknown, but it typically indicates an impending volatility breakout. Despite rising almost 2% on the day, DOGE has demonstrated greater resilience than SHIB in recent sessions. 

However, it is still confined beneath the 100-day and 200-day moving averages, which are situated between $0.22 and $0.23. The first clear indication of fresh bullish control would be a breakout above these levels. The asset price is currently squeezing between $0.19 and $0.20, which historically precedes strong movements, according to structural analysis. 

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Before the token becomes overbought, there may still be opportunity for upward momentum, according to the RSI at 40.8. The wider background, however, is still unclear. Since its most recent significant peak, DOGE's volume profile has been thin, which indicates that traders are hesitant following the most recent market-wide correction. The next few candles might be crucial. A breakout above $0.205-$0.21 might pave the way for $0.30, which would be in line with the 200-day MA. 

However, a decline below $0.18 might force DOGE back to $0.16, possibly rekindling bearish sentiment. DOGE's pattern seems more symmetrical than SHIB's descending one, suggesting that the two possible outcomes are more evenly distributed. However, its tenacity close to the current range suggests that bulls are gradually regaining confidence.

Shake-up for BitcoinAfter several tumultuous weeks in which it lost and swiftly regained ground around its long-term support, Bitcoin is once again at a critical juncture, hovering just above the $108,000 mark. Bitcoin may have one more chance to rally toward $120,000 before more widespread weakness sets in, even though market sentiment is still cautious. 

Bitcoin is seen on the chart consolidating just above its 200-day moving average (black line), a historically significant level that frequently serves as a launching pad for midcycle retracements. A narrow compression range is currently being created by the orange 100-day MA pressing overhead close to $112,000 at this time.

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Bitcoin is in a tight spot, and its short-term future will probably depend on which side breaks first. The Relative Strength Index (RSI), which indicates neutral-to-oversold conditions, is just above 41 from a momentum perspective. In the meantime, trading volume has dropped from the capitulation spike in early October, suggesting that selling pressure may be abating as the price levels out. 

BTC may be the starting point for a further leg upward if it can maintain support between $106,000 and $108,000. If momentum returns, it may retest $114,000 first, followed by $120,000. But there is not much room for error in the structure. 

The asset could potentially decline toward $100,000 or even $96,000, the next important liquidity zone if a daily close below the 200-day MA confirms a breakdown. Bulls have a strong technical case, however, because Bitcoin has consistently demonstrated resilience within this range and the long-term trend is still in place.

If a recovery occurs, this might be the last midterm correction before Bitcoin tries to reach a new all-time high in late 2025. Bitcoin, to put it simply, is at a turning point. If this line is maintained, $120,000 will once more be within reach; if it is lost, a more significant market correction may be imminent.

Dogecoin (DOGE) is showing signs of a potential breakout as it trades around $0.193, forming a symmetrical triangle pattern — a technical setup often preceding major volatility. Although the direction of the next move remains uncertain, this pattern typically signals an imminent shift in momentum. DOGE has gained nearly 2% in the past 24 hours, displaying stronger resilience than Shiba Inu (SHIB) during recent market fluctuations.

Despite the short-term uptick, DOGE continues to face resistance beneath its 100-day and 200-day moving averages, positioned between $0.22 and $0.23. A decisive breakout above these levels could confirm renewed bullish strength. Currently, the coin is consolidating tightly between $0.19 and $0.20, a range that historically precedes significant price action. Analysts note that a breakout above $0.205–$0.21 could open the door to $0.30, aligning with the 200-day MA, while a drop below $0.18 may trigger a decline toward $0.16, reigniting bearish sentiment.

The Relative Strength Index (RSI) sits at 40.8, indicating that DOGE still has room to move upward before becoming overbought. However, the broader market outlook remains uncertain. Since its last major peak, Dogecoin’s trading volume profile has thinned, suggesting that traders remain cautious after recent corrections across the crypto market.

Comparatively, DOGE’s current symmetrical pattern presents a more balanced risk-reward setup than SHIB’s descending trend, reflecting growing confidence among bulls. If momentum builds and the price breaks key resistance levels, Dogecoin could soon regain its bullish footing and test higher zones, reinforcing its reputation as one of the most resilient meme coins in the market.

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15 minutes ago

The sharp rise in BNB’s price also has crypto traders speculating that altcoin season could be on the horizon.

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Crypto traders are expecting a significant rally for BNB in the coming weeks after US President Donald Trump pardoned Binance founder Changpeng “CZ” Zhao.

Zhao pleaded guilty in November 2023 to one count of failing to implement an adequate Anti-Money Laundering (AML) program at Binance, violating the Bank Secrecy Act. 

The price of BNB (BNB) surged 3.6% to an intraday high of $1,121 just hours after The Wall Street Journal reported that Trump pardoned Zhao, following months of lobbying and appeals from the company and Zhao.

Source: Changpeng Zhao“Trump just pardoned CZ. Now we resume $BNB up only szn,” crypto trader Xeer said in a post on Thursday.

BNB’s recent surge has sparked altcoin season speculationThe rally also extended to World Liberty Financial (WLFI), the native token of Trump’s son’s crypto company, also posted an upward move of almost 14% to $0.1414 since the news was announced, according to CoinMarketCap.

The price surge has sparked speculation that the enthusiasm could extend to the broader crypto market. 

Source: KnightRR2Capital co-founder Richard Seiler said in an X post after the announcement, “Crypto could do with a catalyst right now…That may very well have been it.” 

BNB has had public treasury interest in recent timesAnother crypto trader, Galaxy, said, “BNB now, altcoins next?” 

It comes on the back of BNB being listed on Coinbase and Robinhood earlier this week, and publicly traded companies increasingly accumulating BNB for their treasury holdings.

On Wednesday, shares of biotech firm Applied DNA Sciences jumped over 50% during the trading day, after the company revealed the purchase of 4,908 BNB tokens valued at about $5.3 million.

Magazine: Sharplink exec shocked by level of BTC and ETH ETF hodling: Joseph Chalom

President Donald Trump’s surprise pardon of former Binance CEO Changpeng “CZ” Zhao sent shockwaves through the crypto market, driving World Liberty Financial’s WLFI token up by more than 14% in just hours. Though CZ’s Binance and the Trump family’s World Liberty venture appear unrelated on paper, their financial interactions reveal a growing symbiotic relationship that’s blurring the line between politics and crypto.

The price rally highlights how intertwined these entities have become. Binance, a global crypto powerhouse, and Trump’s emerging crypto empire each benefit from the other’s success. Following the pardon, investors interpreted this link as bullish for WLFI, reinforcing perceptions that political influence could directly impact token valuations.

Crypto commentator Coffeezilla pointed out a major transaction that exemplifies this connection. Earlier this year, Abu Dhabi’s MGX sovereign wealth fund invested $2 billion into Binance, but instead of transferring the funds directly, the money was first converted into the Trump-backed stablecoin USD1 through World Liberty Financial. The transaction injected significant liquidity into World Liberty’s ecosystem and secured an estimated $60–$80 million in annual yields—benefiting both Binance and the Trump-linked project.

By routing the funds through USD1, MGX effectively tied Binance’s stability to the Trump family’s crypto venture. This interdependence means Binance now has a vested interest in maintaining the stablecoin’s peg and credibility, creating an unusual financial partnership between political and corporate forces.

While critics warn that such relationships may erode market integrity and public trust, supporters see them as a strategic evolution of global crypto finance. Whether this represents corruption or clever capitalism, the outcome is clear: Trump’s pardon not only freed CZ but also fueled a new era of crypto-political synergy that could redefine digital markets.

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A crypto market analyst who correctly predicted gold’s price surge to new all-time highs and explosive rallies in the S&P 500 is now turning his focus toward Bitcoin (BTC). The analyst has officially declared Bitcoin the next bull run opportunity. His bold call and history of accuracy have left the crypto community eager to see where the cryptocurrency’s price heads next.

Bitcoin Now In Focus After Analyst Nails Gold And S&P Predictions 
In a post on X earlier this week, financial services veteran Mel Mattison announced that investors should start buying Bitcoin. The analyst believes BTC is entering a potentially bullish phase, suggesting that the pioneering cryptocurrency could be on the verge of a “massive run.”

Interestingly, this is not the first time Mattison has made such a bold call. Earlier this year, his predictions on gold and equities proved surprisingly accurate. In April, he had made a striking prediction about the S&P 500, urging investors to “buy now” and forecasting that the index would hit 7,000 within a year and 15,000 before the end of US President Donald Trump’s term. Since then, the S&P 500 has surged, validating Mattison’s aggressive bullish outlook. 

Source: Chart from Mel Mattison on X
Months later, in August, the financial service veteran encouraged investors to accumulate gold while its price was down and still consolidating, labeling it a rare long-term opportunity. He also detailed his moves by adding to January 2026 GLD call options at the 330 and 350 strike levels, explaining that the setup was ideal for a 6-12 month rally. Remarkably, his timing aligned perfectly with gold’s subsequent rally, which saw the precious metal break to new all-time highs. 

With his focus now on Bitcoin, Martian appears to be positioning the digital asset alongside gold and equities as the next major play in a global risk-on environment. His bullish calls align with other analysts who believe BTC could advance toward a new ATH this Q4. 

BTC Price Chart Mirrors Gold’s Legendary 1980s Surge
Sharing similar bullish sentiments, crypto market expert Merlijn the Trader has presented a striking technical comparison between Bitcoin’s current weekly chart and gold’s historical price action in the late 1970s. The analysis highlights a near-identical ascending channel formation, with BTC’s price action from 2023 to 2025 closely mirroring gold’s structure from 1976 to 1979. 

In the accompanying chart, Merlijn indicated that Bitcoin’s trajectory shows a clear consolidation within the same upward channel that preceded gold’s dramatic breakout to new all-time highs above $760 in 1980. The analyst explained that the cryptocurrency has accurately traced the rhythm, structure, and squeeze of this distinct bullish setup.  

Currently, Bitcoin’s price is situated at the upper end of the ascending channel, suggesting that a breakout could lead to a significant upward move that could mirror gold’s historic surge. While the analyst has not shared a specific price target for his bullish outlook, he remains confident that BTC is primed for a “legendary move” to new highs.

BTC trading at $109,754 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts.
Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Jessie A Ellis
Oct 23, 2025 23:05

Bitcoin's recent fall through a crucial trendline raises concerns about the bull market's future, yet indicators suggest potential for a rally by year's end.

Bitcoin (BTC) has recently experienced a significant downturn, having breached a crucial trendline, casting doubt on the continuation of the current bull market. This development has raised concerns among investors and market analysts alike, as the cryptocurrency market grapples with uncertainty, according to CoinMarketCap.

Critical Trendline Breach
The breakdown of Bitcoin's critical trendline occurred a week ago, signaling potential bearish momentum. This trendline breach was confirmed shortly thereafter, leading many to speculate about the possible end of the bull market that has characterized much of 2025. Despite these developments, market watchers are keeping a close eye on indicators that may suggest a reversal and a rally towards the end of the year.

Potential for a Breakout
Recent analysis of Bitcoin's 4-hour chart indicates that the cryptocurrency's price action remains below two significant trendlines. Despite several retests, these trendlines have held firm against bullish attempts, barring a brief fakeout on Tuesday. However, on Thursday morning, BTC's price rebounded from the $108,000 horizontal support level, moving towards the intersection of these trendlines. The Stochastic RSI indicators have recently turned upwards, hinting at the possibility of a breakout later in the day.

Market Sentiment and Outlook
The current market sentiment remains cautious, with traders and investors closely monitoring technical indicators for signs of a potential rally. The broader cryptocurrency market has also been affected by macroeconomic factors, including regulatory developments and global economic conditions, which continue to influence Bitcoin's price movements.

As the year progresses, the cryptocurrency community remains hopeful that positive indicators could lead to a resurgence in Bitcoin's value. While the immediate future remains uncertain, the potential for a rally by the end of 2025 keeps investors engaged and optimistic about Bitcoin's long-term prospects.

For further insights and detailed analysis, the original report can be accessed on CoinMarketCap.

Image source: Shutterstock

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Dogecoin has spent the past several days trading around $0.19, holding relatively stable amid quiet volatility in the entire market. Dogecoin has spent the past few days trading within a tight range between $0.18 and $0.20, showing a slight increase in trading activity compared to last week. 

Although the price action has been mostly subdued, a new technical analysis suggests that a significant reversal could soon be underway, one that may send the Dogecoin price surging to at least $0.5 once momentum returns to the market.

Dogecoin In The Lower Band Of Its Long-Term Channel
Technical analysis of Dogecoin’s macro price chart shows the king of meme coins is now trading at a historical bullish momentum low. This analysis, which was posted on the social media platform X by crypto analyst EtherNasyonaL, looks at Dogecoin’s price action on the 3-month candlestick timeframe chart.

The analysis shows that Dogecoin is currently trading within a well-defined ascending channel that goes as far back as when it was created. As it stands, Dogecoin is now trading around the lower boundary of this channel. The flash crash earlier in the month created a downward wick that bounced off a confluence of supports right on this trendline.

Source: Chart from EtherNasyonaL on X
This long-term structure reveals a consistent pattern of Dogecoin bouncing back each time it reaches this lower band, with previous reversals leading to exponential rallies. The current setup mirrors the same early stages of recovery seen before the 2021 breakout that sent the Dogecoin price from below $0.1 to above $0.70.

EtherNasyonaL explained that Dogecoin’s momentum has now reached “historical lows,” with the Stochastic RSI confirming a bottoming phase similar to those seen before previous bull runs. Furthermore, the analyst described this period as a phase of “quiet, calm, yet determined recovery,” meaning that the market is gradually regaining strength beneath the surface.

Historical Bottom Means Price Bounce
The momentum oscillator displayed in EtherNasyonaL’s chart supports this outlook. The Stochastic RSI, which tracks the rate of change in momentum, is at its lowest level, even lower than before Dogecoin’s rally in 2021. If history repeats itself, Dogecoin could be entering the same type of accumulation phase that set the stage for its 2020/2021 rally.

This view is further supported by the positioning of the price within the ascending channel. With Dogecoin currently trading around the lower range, it effectively sets a technical foundation for another upward leg.

Should Dogecoin follow its established pattern, a rebound toward the midline of the channel would place its price at least at $0.5. A continued move upward would see Dogecoin break into new all-time highs above $0.9 and $1 in conservative projections.

At the time of writing, Dogecoin is trading at $0.1945, having increased by 1.9% in the past 24 hours.

DOGE trading at $0.19 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from Getty Images, chart from Tradingview.com

A $1.77 trillion asset manager, T. Rowe Price, filed with the SEC for an active crypto ETF, igniting a transformative wave in global investing by harnessing bitcoin, ether, solana, XRP, and more within a regulated digital framework. T.

Key Takeaways
Is SNX exhibiting strength against the wider market?
Its recovery after the crash on the 10th of October, rallying to $2.58, was impressive, but the past 24 hours showed SNX weakness relative to Bitcoin.

What are the key price levels to watch?
SNX bulls showed signs of exhaustion, but they must defend the $1-$1.2 demand zone and drive a price bounce beyond $1.83 to flip the 1-day timeframe’s structure bullishly.

Synthetix [SNX] saw a 9.3% price drop in the past 24 hours. Its daily trading volume has receded almost 30%, according to CoinMarketCap data.

It underperformed the wider crypto market, which has gained 0.94% in 24 hours.

Bitcoin [BTC] managed to defend the $108k support level in the short term, and BTC bulls were wrestling with the supply around $110k in an attempt to drive a rally.

The short-term weakness of Synthetix was a concern to holders and bullish traders.

On Monday, the 20th of October, the Amazon Web Services outage affected important crypto platforms, including Coinbase and its Layer 2 network Base.

This impacted SNX’s trading activity and liquidity, dragging prices lower.

It also highlighted the risks of centralized dependencies in crypto, feeding sell-offs. Technical analysis showed that SNX was approaching a demand zone at $1.2. Can the bulls regain control of the market?

Profit-taking activity forces SNX to retrace its rally
The $1 million trading competition announced in September led to increased demand for SNX tokens as participants tried to earn a place in the competition.

Even after the liquidation event on the 10th of October, Synthetix managed to rebound strongly.

Source: SNX/USDT on TradingView

The 1-day chart showed a bearish internal structure as SNX broke down beneath the previous week’s swing low at $1.32. It was trading just above the 78.6% Fibonacci retracement level at $1.26.

Just below it, the $1-$1.2 area marked a demand zone that sparked the most recent impulse move higher to $2.58.

The technical indicators gave mixed signals. The CMF was at -0.13 to show heavy capital flow out of the market. Seller dominance was likely to drive prices lower.

However, the DMI showed that the Synthetix token continued to trend bullishly. The CMF and the bearish internal structure overrule the DMI here. The $1.2 demand zone must be defended.

Santiment data revealed a large amount of dormant token movement over the past ten days. The daily active address count has also tanked compared to this wave of selling following the 10th of October.

The mean coin age was unable to climb higher. Together, the metrics showed a lack of accumulation from SNX holders.

The high percentage of supply in profit, combined with the dormant circulation uptick, was proof of profit-taking activity, throwing doubt on SNX’s potential to recover.

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories.
His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity.
Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution.
As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

President Trump’s pardon of CZ sent WLFI soaring over 14%, underscoring deep ties between Binance and the Trump crypto empire.A $2 billion MGX investment funneled through USD1 linked Binance and World Liberty Financial, boosting liquidity and annual yield.The pardon benefits all parties—Binance gains stability, WLFI profits from liquidity, and Trump’s influence in crypto expands.After President Trump pardoned CZ this morning, World Liberty Financial’s WLFI token jumped over 14%. Although the former Binance CEO seems unrelated to this Trump family venture, the rally highlights key dynamics.

In essence, all these parties have become intertwined and formed a symbiotic relationship. On paper, Binance and the US President’s crypto empire can benefit from each other’s success.

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Binance and Trump ExplainedThis morning, the crypto space was rocked by President Trump’s decision to pardon CZ, the former CEO of Binance.

Since his former organization and the Trump family’s business interests are thoroughly entangled, this has raised community fears that other firms will try to bribe the President to receive favorable treatment.

However, calling this a case of outright bribery might be a little oversimplified. Trump and Binance both benefit symbiotically from continued commerce, and WLFI’s price spike today clearly illustrates that.

Although World Liberty is theoretically uninvolved in the pardon, it spiked over 14% today:

WLFI Price Performance. Source: CoinGeckoCoffeezilla, a prominent crypto sleuth, pointed to a specific example highlighting this symbiotic relationship.

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MGX, a UAE-based sovereign wealth fund, invested $2 billion into Binance this March.

But, this deal took a brief detour through the Trump family’s DeFi venture, converting the money into USD1, which it then gave to Binance.

Backstory to CZ's pardon
Nov 2023 Binance and CZ plead guilty, $4B+ fine
Mar 2025 Trump WLFI launches stablecoin USD1
Mar 2025 $2B investment into Binance by MGX
May 2025 $2B investment was paid for in USD1
May 2025 CZ admits he applied for a pardon
Oct 2025 CZ gets a pardon… https://t.co/dolBuX9b89

— Coffeezilla (@coffeebreak_YT) October 23, 2025
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A Puzzle That Seamlessly Fits TogetherThe deal between Abu Dhabi’s MGX fund and Binance is not unconventional, but it’s how the deal was completed. MGX could have given the fund to Binance in any currency. It could have been USDC or USDT, the two most prominent and well-established stablecoins.

But this detour provided extra benefits while tying the two entities together. For World Liberty Financial, its new stablecoin got $2 billion in fresh liquidity shortly after its launch.

It will also gain between $60 million and $80 million in annual yield, provided that Binance doesn’t try to redeem the funds.

Binance, meanwhile, has thus gained a direct financial interest in ensuring that the Trump family stablecoin maintains its peg. This could explain why the crypto community considers this pardon a bullish case for the WLFI token.

If we can assume that CZ’s pardon is the main benefit for Binance, his personal stature still makes this a sound investment. Once he returns to legal business ventures in the US, CZ could recover those $2 billion quickly.

Sponsored

Moreover, an ongoing relationship with the Trumps will doubtlessly involve future beneficial opportunities.

Although MGX could’ve simply given the money to Binance directly, involving USD1 and the Trump family cemented valuable ties.

The fund, for its part, cited World Liberty’s “compliance history” in choosing the asset. But given that World Liberty Financial is only a year old, other stablecoin providers likely hold a much more effective regulatory history.

CZ conducted business with this fledgling crypto empire on several key occasions, but the MGX deal highlights all the relevant dynamics. All these factors still apply in October. In other words, who benefited from the pardon? Everyone.

If proven, this level of corruption could be beyond unprecedented in the entire history of the United States. Ignoring potential market instability, relationships like this fundamentally undermine the fabric of society and political life.

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