Market Signal Briefing

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Billionaire hedge fund manager Ray Dalio has touted Bitcoin as “alternative money” as it continues to gain global adoption. This comes as BTC’s profit-taking surges past $3.7 billion amid its new rally past $120,000.

Ray Dalio Labels Bitcoin an “Alternative Money”
In a recent interview, Ray Dalio described Bitcoin as an “alternative money.” He noted that its growing recognition as a store of value makes it impossible to ignore. While he admitted he holds only a small amount of BTC personally, Dalio emphasized that the token meets key features of hard money. 

He pointed out that there is a limited supply of the token, with only 21 million coins available. However, Ray Dalio raised concerns about whether central banks would use the token as a reserve currency. He said that the need for clear transaction records and the risk of future regulations could stop official use of the token.

The billionaire had previously made bullish comments about the token before this. In June, Ray Dalio praised BTC for its unique qualities that make it a form of hard currency. He noted that the coin is now entering the elite class of hard money assets, standing alongside precious metals such as gold and silver.

Dalio’s comments are in line with those of seasoned investor Robert Kiyosaki. In order to protect themselves from future financial crises, he has frequently advised investors to hold Bitcoin, silver, and gold.

Investors are shifting to alternative assets as a result of pressure on the global bond markets, particularly from decreased exposure to U.S. treasuries. Both Kiyosaki and Dalio agree that the token’s limited supply gives it an edge over fiat currencies that can be inflated at will.

BTC Profit-Taking Surges Past $3.7B
According to CryptoQuant data, over $3.7 billion in realized gains were recorded in just one day. This was the fifth-largest event for taking profits in 2025.

Source: CryptoQuant
Analyst Caueconomy pointed out that selling activity can show increased selling pressure, but it doesn’t mean short-term investors control the market. Instead, this selling may mean that long-term investors are cashing in their profits, which suggests prices could still go up.

This comes as the Bitcoin price surged past $120,000. This is its highest level since mid-August as traders gear up for a bullish ‘Uptober.’  Over the past five days, the token has shown consistent gains in an attempt to reach its prior highs.

Additionally, open interest in Bitcoin futures has hit a record $88 billion, suggesting that traders are setting up for future gains. Spot ETFs are also seeing significant inflows.

Source: CoinGlass
Banking giants are adding to the bullish case. Citigroup forecasted BTC could climb as high as $231,000 within the next 12 months, with base and bear scenarios at $181,000 and $82,000, respectively. 

JPMorgan also weighed in on Bitcoin. They stated that the token is undervalued compared to gold and could rise to $165,000. They cited its declining volatility relative to the precious metal as a sign of maturing market stability.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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SWIFT — the Society for Worldwide Interbank Financial Telecommunication — will be building its recently announced blockchain payment settlement platform on Ethereum layer 2 Linea, Consensys CEO Joe Lubin has confirmed.

On Monday, SWIFT revealed that it had tapped Consensys and over 30 TradFi institutions to build infrastructure for a 24/7 real-time crypto payments system — but didn’t confirm which chain it would build on despite widespread speculation that it would be Linea.

However, Lubin confirmed Linea’s selection in a fireside chat with Cointelegraph’s Gareth Jenkinson at the Token2049 conference in Singapore on Thursday.

Lubin said that during SWIFT’s announcement to the banking sector, SWIFT CEO Javier Pérez-Tasso didn’t mention Linea by name. Lubin said SWIFT had to “soft roll out” the “big news,” which was taken rather positively.

“I believe the sentiment was, ‘thank you for doing this.’ It’s about time to bring the two streams, DeFi and TradFi, together,” said Lubin.

Cointelegraph’s Gareth Jenkinson with Joe Lubin and Snow Crash author Neal Stephenson. Source: Cointelegraph
Developed by Consensys, Linea is a scaling-focused layer 2 that leverages zk-EVM rollup technology to process around 1.5 transactions a second at one-15th the cost of fees on Ethereum. 

It has $2.27 billion worth of total value locked — the fourth largest among Ethereum layer 2s, trailing only Arbitrum One, Base Chain and OP Mainnet, L2BEAT data shows.

SWIFT’s entry into the blockchain payments space could be massive,  as it handles around $150 trillion worth of global payments through traditional banking rails each year. 

Some of the biggest banks are involvedBank of America, Citi, JPMorgan Chase, and Toronto-Dominion Bank are among the TradFi firms set to participate in trials of SWIFT’s new blockchain payments rail on Linea.

It could pose a serious competitor to Ripple’s XRP Ledger, one of the few prominent blockchain-based payment systems tailored for banks.

SWIFT’s move to build a blockchain payments rail has been anticipated for some time, benefiting from the blockchain’s near-instant, 24/7 settlement without intermediaries, while reducing costs, errors and delays. 

Linea could enable a “user-generated civilization,” says LubinLubin highlighted the broader potential of Linea beyond payments, describing it as a platform where “content can be created in a user-generated fashion.” 

“We will have user-generated civilization and user-generated content on Linea and other places,” Lubin said, explaining that by leveraging Ethereum’s trustless settlement layer, Linea allows communities to build infrastructure, rules, and apps from the bottom up — opposite to the top-down approach seen in traditional government and banking hierarchies.

Decentralized autonomous organizations are already trying to run entities without centralized leadership, often implementing smart contracts and decentralized voting systems to manage treasuries and make decisions. However, few DAOs have achieved success at scale so far.

Magazine: Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

BNB, the native cryptocurrency of Binance, has seen a strong 8% upside, hitting a new all-time high past $1,100, leading the broader crypto market rally. It is also currently the strongest-performing altcoin with 30% gains on the monthly chart. Market experts believe that Binance Coin has done a strong base formation at $1,000, which sets the foundation for a rally to $5,000 ahead.

BNB Shoots Past $1,100 Leading Crypto Market Rally
Binance Coin (BNB) surged to a new all-time high, crossing $1,100 for the first time and trading at $1,108.17, marking a 7.27% gain in the past 24 hours. Furthermore, the daily trading volume has surged by 30% to more than $4.16 billion, showing strong bullish sentiment among traders. This comes as the overall crypto market shows strength on hopes of Fed rate cuts following the US shutdown this week.

Amid today’s market rally, the liquidations across the crypto space have surged to $391 million, of which $268 million is in short liquidations, per the Coinglass data. Analysts note that the wave of liquidations has amplified BNB’s rally, forcing short sellers to buy back into the crypto market.

Additionally, key developments within the Binance ecosystem have contributed to a greater upside. On the regulatory front, the company has been nearing a deal with the U.S. Department of Justice (DoJ) to drop compliance monitoring, following its $4.3 billion settlement earlier this year.

Also, the native BNB chain is emerging as a popular choice for real-world asset tokenization (RWA). In addition to this, the latest growth of BNB-based Layer 2 decentralized exchange (DEX) Aster is driving further momentum.

The broader crypto market is showing major strength this week despite concerns surrounding the US shutdown. Some market analysts are expecting a further delay in the approval of spot crypto ETFs, for top altcoins like XRP, Solana (SOL), Cardano (ADA) etc.

Expert Eyes Binance Coin Rally to $5,000
BNB continues to trade above the $1,000 mark, sustaining its recent breakout to new all-time highs. Market analyst Crypto Patel noted that early entrants have already secured a 5x return this cycle but argued that the rally may still have significant room to run.

Source: Crypto Patel
According to Patel, BNB could climb further in the ongoing bull cycle, with potential targets in the $2,000–$3,000 range if current momentum continues. Of course, this will need the support of the broader market moving ahead.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Advert for Bitcoin on a bus in the capital's West End Photo by Barry Lewis

In Pictures via Getty Images

The UK government is the third largest sovereign holder of bitcoin, with approximately 61,250 coins under its control. Last week Southwark Crown Court confirmed the seizure of bitcoin linked to a Chinese fraud, now worth more than £5 billion, after defendant Zhimin Qian, pleaded guilty to possessing and transferring criminal property.

Despite this situation, government officials have so far resisted calls to examine bitcoin’s potential strategic role. In May 2025 Emma Reynolds, then Economic Secretary to the Treasury, said that creating a national bitcoin reserve was ‘not appropriate’ for the UK market. Instead of discussing bitcoin’s role, the recent Labour Party conference in Liverpool had a focus on digital identity, where Visa’s Mandy Lamb remarked: “the trick is how do you link payments with IDs?”

Digital ID did not feature in the Prime Minister's keynote speech. Observers suggested that the omission reflected political sensitivity. A public petition opposing digital ID cards has now gathered more than 2.7 million signatures, making it one of the largest petitions in parliamentary history. The government, however, continues to frame digital identity as a tool of economic inclusion and growth. Officials have said it could deliver a £4.3 billion boost to the economy and the Tony Blair Institute has argued that the public supports a modern identity system that would provide fairness, control and convenience.

Civil liberties groups have challenged the government’s framing of digital identity as inclusion. Big Brother Watch’s report Checkpoint Britain warns that such systems are likely to exclude rather than include, citing Britain’s poor record on major data breaches and polling that shows 63 per cent of the public do not trust the government to safeguard a universal identity database. The report also highlights the risk of mission creep, where IDs first required for public services could become mandatory for work, housing, benefits, voting and even everyday spending. Liberty has raised similar concerns, warning that digital ID systems can impose barriers for marginal communities. International examples show that schemes introduced in the name of access can end up driving exclusion.

George Orwell mural picture Southwold, Suffolk, England, Uk. (Photo by: Geography Photos/Universal Images Group via Getty Images)

Universal Images Group via Getty Images

James Dewar, an accountant and Partner at Bridge to Bitcoin, when asked about Visa’s vision of linking digital IDs to payment argued that another major concern is the concentration of power. He said, “We need to call out the unholy alliance of mega corporations and consultancy firms cosying up to governments to sell them their advice services and help build technological, legal and regulatory moats jurisdiction by jurisdiction. Whether this is in the realm of CBDCs, AI or Digital IDs. They are conspiring to aggregate power in their interests instead of innovating their products and services to benefit customers using open technologies in a free and competitive environment. Profiting from the latter may be harder work, but it is important to understand that in the digital world this is the only route through which 8 billion people will gain and retain their liberty”.

The Labour Party conference illustrated how closely government and financial incumbents are aligned on identity and payment systems. Lucy Rigby MP, now the Economic Secretary to the Treasury, described digital assets and identity as part of the UK’s strategic infrastructure. Speakers stressed interoperability and verification as foundations of the next stage of financial services.

The question of whether the Treasury should consider a strategic Bitcoin reserve to strengthen the UK’s economic position was put directly to Lucy Rigby, but went unanswered.

Peter Kyle MP, Shadow Secretary of State for Business and Trade, said that Britain should aim to build the first trillion pound business in the UK. His remark overlooked the fact that Bitcoin already exists at that scale as a global asset class. The contrast highlights the policy gap. While some ministers focus on digital identity tied to payments as a framework of control and verification, Bitcoin operates outside that framework, open to anyone with a device and an internet connection.

International examples show how far different countries are already leaning into Bitcoin. In the U.S., President Trump signed an executive order in March 2025 to establish a Strategic Bitcoin Reserve, the plan is to treat bitcoin held by the government as reserve assets, not simply liquidate them. Congress has since introduced the BITCOIN Act of 2025 to formalise and expand those policies, including potential acquisition of up to one million BTC over five years. El Salvador has adopted Bitcoin as legal tender and continues to hold it as a reserve asset.

These cases offer policy paths the UK could study, not necessarily to copy, but to see how sovereign Bitcoin exposure might be used strategically to aid growth and innovation.

Ben Cousens, founder of Antidote, the UK’s first Bitcoin incubator and accelerator for startups, says “Policy can be a lot more than just “buy bitcoin”. The UK government has repeatedly referenced its own mandate for national renewal and growth—messages we can surely all get behind. The trick is in how to facilitate and drive that growth, where establishing a productive and favourable regulatory regime for business alongside sensible guidelines for consumers should play a major role. Growth comes from enabling and empowering those who create economic value, and Bitcoin has a 15-year track record of enormous value creation that the UK should participate in whole-heartedly.”

LONDON, ENGLAND - MAY 30: In this photo illustration, a visual representation of Bitcoin cryptocurrency is pictured on May 30, 2021 in London, England. Bitcoin is a decentralised digital currency, which has been in use since 2009. (Photo illustration by Edward Smith/Getty Images)

Getty Images

Britain, with some of the highest electricity costs in Europe and billions of pounds in sovereign bitcoin holdings, faces both challenges and opportunities. Energy prices shape its prospects in energy-intensive sectors from AI to bitcoin mining, areas that governments worldwide are tying to future growth. While the Labour Party conference was underway, a representative of the Tony Blair Institute was asked how the UK could reconcile ambitions to be an AI and digital superpower with such high energy costs. The reply was that this remained ‘aspirational,’ a reminder that political ambitions are often not matched by practical delivery.

The same gap between promise and reality is evident in financial policy. On one side, digital ID is promoted as inclusion, even as civil liberties groups warn of exclusion. On the other is bitcoin, with billions of pounds now in government custody, permissionless and global. The petition against digital ID shows the strength of public concern, while the court case confirms that bitcoin is already a state controlled asset worth billions.

Whether Britain recognises it or not, these holdings place it in the global race to define the future of money, a race in which identity linked systems and permissionless networks are pulling in very different directions. The outcome will shape economic sovereignty for decades to come.

Michael Saylor’s digital asset treasury firm, Strategy, has just hit a new all-time high in crypto value, now worth more than several leading banks and equivalent to the gross domestic product of some nations. 

“Our journey began with $0.25 billion in Bitcoin — and an immediate $0.04 billion unrealized loss,” said Saylor on Thursday, noting that Strategy’s Bitcoin holdings are now valued at $77.4 billion, close to double its value in 2024.

The valuation comes as Bitcoin returned to the $120,000 level. While Bitcoin is still down 3% from its all-time high in mid-August, Strategy’s new Bitcoin value record comes as a result of it scooping up 11,085 BTC over the last seven weeks.

Its most recent purchase was relatively small, just 196 BTC on Monday. 

Strategy’s Bitcoin stash is now worth more than the market capitalization of several major banks, including BNY Mellon, Sberbank, US Bancorp, CIBC, ING, Barclays, Deutsche Bank, ANZ Bank, and Lloyds.

Source: Michael Saylor 
A stash bigger than an entire nation’s GDPStrategy currently holds 640,031 BTC, equivalent to 3.2% of the total circulating supply. The next largest Bitcoin DAT is MARA Holdings, which holds 52,477 BTC, worth approximately $6.3 billion.

With $77 billion worth of Bitcoin, you could buy 2,566,667 cars at $30,000 each or 385,000 houses at $200,000 each.

It is also comparable to the entire GDP of countries like Uruguay, Sri Lanka, and Slovenia, meaning Strategy’s Bitcoin holdings are worth as much as the annual economic output of entire nations. 

El Salvador’s Bitcoin holdings are just below ATHThe largest nation-state Bitcoin treasury belongs to El Salvador, which is currently reported to hold 6,338 BTC, worth approximately $762.5 million, according to the El Salvador Bitcoin Office. 

This is slightly below its all-time high valuation of almost $770 million in mid-August, as the country has been accumulating at a much slower pace of one BTC per day, though whether it has been buying Bitcoin is still a hotly debated topic within crypto circles. 

Strategy holds nearly half of total BTC treasury holdingsThe total amount of BTC held by public and private companies is 1.32 million BTC, or 6.6% of the total supply worth roughly $159 billion at current market prices, according to BitcoinTreasuries.NET.

Strategy is the 800-pound gorilla of DATs, holding a whopping 48% of the total amount of BTC held by around 266 public and private companies.

Magazine: Hong Kong isn’t the loophole Chinese crypto firms think it is

The cryptocurrency market is heating up again, with many analysts pointing to key signals that suggest a fresh bull run may already be underway.

 In a recent breakdown, Altcoin Daily analysts highlighted how institutional adoption, favorable policies, and growing real-world use cases could make this one of the most powerful cycles in crypto’s history. 

From Bitcoin’s momentum to Ethereum’s bullish setup and Cardano’s rising recognition, the outlook paints an optimistic picture for the next several years of the Crypto Cycle.

Bitcoin Holds the SpotlightBitcoin remains the centerpiece of the crypto narrative, especially after successfully flipping a major resistance level into support. At the time of writing, Bitcoin is trading near $124,000, with analysts suggesting that a push above $125,000 could trigger a wave of momentum carrying the price much higher.

Adding to the bullish outlook, Cardano founder Charles Hoskinson recently predicted that Bitcoin could reach $250,000 by mid-2026. Historical data backs this optimism: October has consistently been one of Bitcoin’s strongest months, according to Bloomberg, further fueling expectations of another significant rally.

Ethereum Nearing Breakout TerritoryEthereum is now less than 9% away from its all-time high of $4,800. Analysts explain that once ETH breaks beyond this critical level, it will enter “price discovery mode,” potentially paving the way toward $10,000 ETH in the coming cycle.

Institutional demand is playing a major role in Ethereum’s bullish setup. Financial giant Swift recently showcased Ethereum in its tokenization demo, highlighting its real-world utility for global finance. 

At the same time, on-chain data shows that treasuries are adding ETH faster than it is being issued, leading to a shrinking supply and rising scarcity. With supply contracting and demand surging, Ethereum appears well-positioned for the next leg up.

Hoskinson also shared his broader outlook at Token2049, suggesting that Bitcoin typically rallies first, followed by a surge in altcoins such as Ethereum, Cardano, Solana, and XRP. He noted that Cardano (ADA) is increasingly being recognized as a “blue-chip crypto asset,” even making its way into a U.S. strategic reserve.

With eight years of continuous uptime and a reputation for decentralization and institutional appeal, Cardano has become attractive to both governments and large investors. Analysts believe this sets up ADA and other altcoins for a strong rally once Bitcoin stabilizes, marking the start of the altcoin cycle within the broader bull run.

Policy, Taxes, and AdoptionPolicy changes are also acting as major catalysts for crypto adoption. Recently, the U.S. Treasury exempted cryptocurrencies from the 15% corporate minimum tax, a move that could save billions for companies like MicroStrategy and encourage more corporations to add Bitcoin to their balance sheets.

Meanwhile, banks such as JPMorgan are openly stating that Bitcoin is undervalued, citing fiat currency instability and improving global regulations. As regulatory frameworks like Europe’s MiCA and Singapore’s MAS begin to align, analysts see a $10 trillion opportunity for blockchain integration across industries worldwide.

The Bottom LineAll signs point to a powerful new phase of the Crypto Cycle. With Bitcoin breaking key resistance, Ethereum on the verge of price discovery, Cardano gaining institutional recognition, and supportive policy shifts paving the way for broader adoption, analysts believe the next few years could shape up to be one of the most historic periods in crypto’s evolution.

Journalist

Posted: October 3, 2025

Key Takeaways
What triggered Litecoin’s recent price surge? 
A breakout above the $112 flag pattern reignited momentum, pushing LTC up 10% in 24 hours.

What do rising Open Interest and Sharpe ratio suggest about LTC’s outlook? 
They indicate growing investor confidence and bullish sentiment, with potential for continued upside.

Litecoin’s [LTC] price action is back in the spotlight after weeks of subdued trading. The altcoin broke above a stubborn flag pattern near $112, a level that had capped the price since early August.

That breakout lit up momentum across the market, pushing LTC up 10% in the last 24 hours alone.

A familiar cycle for LTC is to repeat?
This is not the first time Litecoin has moved this way. For months, the token has tended to consolidate inside flag-shaped ranges before staging powerful upside breaks.

The latest rally is following that same script, giving traders hope that the pattern could extend further — with the next technical target sitting around $135 resistance level.

 Source: TradingView

Sharpe ratio signals improving returns
AMBCrypto’s close analysis on Messari’s Sharpe Ratio data indicates that momentum is also showing up in LTC’s risk-adjusted performance.

At  the time of writing, LTC Sharpe Ratio surged significantly to 2.3, a level that suggests strong returns relative to volatility.

Historically, a rising Sharpe Ratio signals growing investor confidence, suggesting that a rally is producing strong returns with manageable volatility. 

The question now is, will Litecoin follow that pattern?

Source: Messari

Litecoin’s Open Interest surges by $100M!
Positive developments on the derivatives markets are also adding another layer of fuel to the bullish bias. Litecoin Futures Open interest has jumped to $703 million, at press time, up by about $100 million in the past 24 hours alone, according to the recent Messari data.

The increase points to fresh positions being built, often a sign that traders and investors alike expect continued movement, though it also means the market is carrying more leverage, which can amplify both gains and losses.

Source: Messari

Rally or pause ahead?
Litecoin’s breakout above $112 has clearly tilted market sentiment toward the bulls. The key question now is whether LTC can maintain its momentum and push toward the $135 resistance level, or if recent gains will prompt short-term profit-taking.

As things stand, the bullish trend appears likely to continue. The daily chart looks promising, with strong on-chain metrics reinforcing the positive outlook and supporting further upside.

Pancakeswap’s CAKE is up nearly 30% in the past 24 hours, with newer token ASTER up 18%. Memes like FLOKI, CAT and others are yet to catch up to fundamental plays, however. Updated Oct 3, 2025, 6:02 a.m. Published Oct 3, 2025, 6:02 a.m.

BNB’s push above $1,100 has shifted attention to the BNB Chain’s native names, with investors rotating into protocols that capture fees and on-chain activity.

STORY CONTINUES BELOW

Activity on the network has risen partly due to Binance founder Changpeng Zhao’s recent endorsements of BNB Chain projects, bringing newfound attention to the fifth-ranked token by market capitalization.

Crypto market participants often tend to allocate to an ecosystem when the base asset climbs higher, with liquidity tending to remain inside that sector. Protocols that collect fees and route orders tend to move first, followed by memecoins and then lesser-known fundamental plays.

PancakeSwap’s CAKE jumped nearly 30% over the past 24 hours, a move that usually coincides with deeper liquidity on core pools and tighter spreads across major pairs.

Newer tokens are catching bids as well: ASTER rose about 18%, reflecting the search for higher beta exposure as BNB advances.

By contrast, meme tokens such as FLOKI and Simon’s Cat (CAT) have yet to meaningfully respond, suggesting traders are prioritizing utility and cash-flow narratives before sentiment-driven meme bets.

BNB reclaimed the $1,100 area after multiple attempts and held the level through U.S. hours, a sign that spot demand rather than leverage is driving the move.

Meanwhile, BNB-tied futures racked up over $97 million in liquidations in the past 24 hours, Coinglass data shows, second only to ether-linked bets.

However, the total value of locked assets on the BNB Chain ecosystem rose a tiny 2% in the past 24 hours despite the market-beating rise of BNB – a sign that traders have not yet allocated to long-term financial plays on the network beyond the token.

For instance, PancakeSwap pocketed just over $1.3 million in trading fees over the past 24 hours, far below an average of over $5 million in July, data shows.

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Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025

What to know:

Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025Gate exchange emerged as major player with 98.9% volume surge to $746 billion, overtaking Bitget to become fourth-largest platformOpen interest across centralized derivatives exchanges rose 4.92% to $187 billionView Full Report

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Tether’s co-founder Reeve Collins said all forms of money, including dollars and euros, will likely be represented on the blockchain within the next five years.

101

Tether co-founder Reeve Collins expects “all currency” to become stablecoins by 2030 as part of a broader shift that will see all forms of finance go onchain. 

“All currency will be a stablecoin. So even fiat currency will be a stablecoin. It’ll just be called dollars, euros, or yen,” said Collins in a wide-ranging interview during Token2049 in Singapore. 

“A stablecoin simply is a dollar, euro, yen, or, you know, a traditional currency running on a blockchain rail by 2030,” he added. 

Collins argues that stablecoins will be the primary method for transferring money within the next five years, as the benefits of tokenized assets have become too compelling for traditional finance to ignore.

“Probably before that, because you’re still going to use dollars. But it depends on what your definition of stablecoin is. The definition of stablecoin is essentially that you’re moving money on a blockchain,” he added. 

US crypto shift was the best thing to happen Collins said that the best thing to ever happen to the crypto market was the positive “shift in stance” toward the sector by the US government this year.

Tether co-founder Reeve Collins. Source: Cointelegraph. He argued that many large TradFi firms were too afraid to enter the industry out of fear of government scrutiny, and while there is still some gray area surrounding the industry, it’s a very different ball game these days.

The Tether co-founder stated that this shift has opened the “floodgates,” with the traditional finance world scrambling to enter the crypto sector and blockchain-based stablecoins being a key focus due to their inherent utility.

  “Every large institution, every bank, everyone wants to create their own stablecoin, because it’s lucrative and it’s just a better way to transact. And so those floodgates are open, and what it’s going to lead to is that soon, there won’t be CeFi and DeFi,” he said.

“There’ll be applications that do things, move money, give loans, do investments, and it will be a mix of the kind of the old, traditional style investments, and then the DeFi types of investments.” The tokenization narrative is strongCollins said tokenized assets offer far greater transparency and efficiency than non-tokenized assets — given that they can be moved quickly across the globe without middlemen — which in turn offers more potential upside.

“That is why the tokenization narrative is so big, because everyone realizes the increase in the utility that you get from a tokenized asset versus a non-tokenized asset is so significant that even the same two assets, just once they’re moved onchain, since the utility increases, that means the return increases.”

Downsides of going fully onchainHowever, Collins acknowledged there were also risks to such a monumental shift in global finance, such as the security of blockchain bridges, smart contracts and crypto wallets.

Crypto hacks and social engineering are also key issues that need to be addressed, he said, though he emphasized that overall levels of security are “improving.”

“And so the old trade off is still going to remain there… which is if you want to be fully in control … you can do that, but it’s technically complex,” said Collins.

“If you want to trust a third party like you do traditionally with banks, there are a lot of those services like the custodial versus non-custodial, so that those services will get more robust, and people will have more options moving forward. So yes, there are always risks in technology,” he concluded. 

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UC Berkeley’s College of Engineering has launched the Center for Digital Assets (CDA), a new research hub for advancing blockchain and digital twin technologies. Ripple Labs’s University Blockchain Research Initiative (UBRI) has provided about $1.3 million in Ripple USD (RLUSD), the company’s US dollar-backed stablecoin, to fund the initiative.

According to a statement shared by Ripple on Friday, the stablecoin issuer is “proud to partner with UC Berkeley on the launch of its new Center for Digital Assets.” The partnership builds on years of innovation through UBRI, which began supporting UC Berkeley programs in 2018.

Digital asset demand necessitates UC Berkeley blockchain study
A 2025 report from the International Data Corporation (IDC) projects that worldwide data will reach 175 zettabytes, with some estimates placing the figure closer to 181 zettabytes. One zettabyte is equivalent to one trillion gigabytes, or about 250 billion DVDs.

UC Berkeley’s new center will focus on developing trusted methods for defining and measuring the value of digital assets, a step that researchers say is imperative for the development of future economic systems.

“Digital content has been part of our human experience and economic systems for decades. The overall mission of the center is to foster pioneering research, education, innovation and entrepreneurship within the broader digital asset technology landscape,” said Tarek Zohdi, associate dean for research at Berkeley Engineering and the center’s faculty director.

The Center for Digital Assets will bring together UC Berkeley faculty, academic affiliates, and Ripple engineers and researchers to collaborate on advanced, open-source technologies. 

We're proud to partner with @UCBerkeley on the launch of its new Center for Digital Assets: https://t.co/l3MISAkXqO

From classrooms to real-world impact, this builds on years of innovation through our University Blockchain Research Initiative.

Find out more about the…

— Ripple (@Ripple) October 2, 2025

Joint projects will target pertinent areas of importance in blockchain and digital finance, built upon a seven-year partnership between UC Berkeley and Ripple’s UBRI. 

Ripple Labs suggested that UBRI has provided funding and resources for academic research since 2018, for studies in technical development, student engagement in blockchain, crypto, and digital payment technologies.

Ripple kickstarts new accelerator for startups
Alongside the creation of the center, Ripple and the CDA are partnering on a new program called the Berkeley Digital Asset Accelerator (BDAX). The project will support growth-stage startups in the XRPL public blockchain ecosystem.

Forty-six teams have already applied for the first 10 spots in the pilot cohort, which launches in October. The initial program will focus on startups innovating within the XRPL blockchain, but future cohorts could include ventures working with digital twin technologies. It would also connect physical and digital systems in engineering, supply chains, and finance.

According to UC Berkeley, the $1.3 million in RLUSD funding will be used to support three primary areas of the new center’s work. The first pillar, Collaborative Research and Pilots, will use UC Berkeley’s research facilities and faculty expertise to innovate digital technologies. 

Academic and Talent Development will double down on educating students in digital asset and digital twin technologies, economics and new venture creation. They will gain hands-on experience with tools and applications issued by Ripple engineers in areas like computer science, finance, and entrepreneurship.

The last pillar, Ecosystem Growth and Global Impact, will expand academic, industry, and student communities and digital research to create sustainable blockchain ecosystems.

UC Berkeley Chancellor Rich Lyons praised the initiative, saying it is the type of transformative collaboration that leads to major breakthroughs in financial technology. 

“I’m thrilled about this exciting addition to our university’s partnership with Ripple,” Lyons continued, “The new Center for Digital Assets is a fantastic example of the game-changing discoveries such collaborations foster. There is no better place than Berkeley to incubate and launch innovations that expand our concept of what’s possible.”

Elsewhere, Ripple minted 1.8 million RLUSD tokens on the XRP Ledger at the start of October, marking its first issuance on the network since September 24. The latest mint follows a separate RLUSD issuance on Ethereum of around 8 million tokens that took place on September 27.

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BNB, the native token of the BNB Chain —a layer-1 blockchain created by crypto exchange Binance — has reached a new all-time high amid plans for upgrades and a broader market rally.

The token reached $1,111.90 for the first time on Friday, after rising more than 7.4% in the last 24 hours and surging 17.5% for the week, according to data aggregator CoinGecko.

It also comes as more treasury companies have been stacking BNB. Soon after the coin’s all-time high in July, analysts told Cointelegraph that treasury buying, along with regular token burns, had contributed to its price gains, with more room to grow. 

Source: BNBAsset manager Standard Chartered predicted in May that the token would reach a peak of $1,275 in 2025, based on its expected gain in tandem with Bitcoin (BTC) and Ether (ETH).

The rest of the cryptocurrency market also registered gains on Friday, with the total market capitalization rising 1.6% to $4.2 trillion.

BNB Chain metrics rise as wellAlong with the token price, BNB Chain’s total locked value (TLV) has also risen. The total number of active addresses and transaction volumes has increased over the past month, according to analytics platform DefiLlama.

The blockchain’s TLV has increased 2.5% in the last 24 hours, tapping $8.23 billion. At the same time, the number of active addresses spiked to 73.24 million last month, reaching the highest recorded level.

The total locked value, total number of active addresses, and transaction volumes of BNB Chain have all increased in the last month. Source: DefiLlamaTransaction volumes have also been on the rise, recording the second-largest number last month after reaching 4.34 million. The biggest monthly transaction volume was recorded in June.

The new all-time high and growing user metrics came just days after the official X account for BNB Chain was compromised on Wednesday, when hackers posted phishing links targeting crypto wallets. 

BNB upgrades on the horizonOn Wednesday, validators and builders operating on BNB Chain adopted the new minimum gas price of 0.05 gwei, which the BNB team said in an X post would result in faster and cheaper trading for users. 

“Next step for wallets, CEXs and trading platforms: To adopt 0.05 gwei to align with the network and keep BNB Chain the most attractive home for onchain activity,” the team said. 

Source: BNB Chain In its outlook for the remainder of 2025 and 2026, the BNB team stated that plans are also in place to increase the BSC block gas limit from 100 million to 1 billion, aiming to meet user demand and ensure smooth activity across decentralized applications.

Meanwhile, in 2026, there is an intent to develop a blockchain architecture capable of processing 20,000 transactions per second with confirmation times of under 150 milliseconds. 

There are also plans for native privacy features, upgradable virtual machines and more user-friendly tools for next year.

Two major upgrades already went live in 2025 Earlier this year, BNB Smart Chain’s Maxwell upgrade went live in June, which was geared toward creating faster blocks, better validator coordination and smoother network performance. It also sparked speculation that a rally could be around the corner.

In April, the Lorentz Hard Fork went live, reducing block times and introducing enhanced validator networking to make the chain more suitable for latency-sensitive applications. 

Magazine: Pudgy Penguins’ ‘masterpiece’ Pudgy Party tops 500K downloads: Web3 Gamer

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As video game giant Electronic Arts (EA) begins its transition to becoming a private company, analysts are optimistic about the $55 billion deal — with one even calling it "a big win" for shareholders.

On Monday, EA announced it will be acquired in an all-cash deal by the Public Investment Fund of Saudi Arabia, Silver Lake, and Affinity Partners. Shareholders will receive $210 per share, a 17% premium over EA's all-time high in August.

Though there is a 45-day window to allow for other proposals, Morningstar Senior Equity Analyst Matthew Dolgin wrote in a Tuesday note that the deal is "all but certain to close" without any regulatory hurdles, given the Saudi government's favorable relationship with the current U.S. administration, and a favourable premium for shareholders.

But while Wall Street may be celebrating, the gaming community might not share the same sentiment. For years, gamers have criticized EA's lack of innovation and aggressive monetization tactics.

Poor gaming street credEA's portfolio includes blockbuster franchises like EA Sports FC (formerly FIFA), The Sims, and Battlefield. But despite strong financials — EA has posted operational profits every year since 2015 — it has often drawn criticism from gamers.

In 2012 and 2013, EA was voted "Worst Company in America" by the now-defunct consumer advocacy website, Consumerist.com. In 2018, USA Today ranked it the fifth most hated company in the U.S. Much of the backlash stemmed from its reliance on live-service models, microtransactions, and controversial mechanics like loot boxes.

Gaming glossary:

Live service games: Games that are released and updated continuously, sometimes with limited time updates. Updates may be paid or free.

Microtransactions: Purchases of in-game items that users make with real money. Items can be either purely cosmetic or allow players to advance more quickly through a game.

Loot boxes: A container of random virtual items that are unknown to the player before opening them, and can be purchased with in-game currency or real money.

EA has also faced criticism for prioritizing sequels over new intellectual property. In a 2024 internal note reported by IGN, CEO Andrew Wilson stated that EA would "double down on owned IP, sports, and massive online communities."

That same year, online magazine Inverse wrote: "Perhaps the most common complaint is that EA fails to innovate," citing overpriced Sims 4 content packs, repetitive sports titles, and underwhelming sequels to legacy franchises.

The company also had the most downvoted comment on Reddit, after it tried to defend its stance over the long time taken to unlock content and characters in the 2017 Star Wars Battlefront II, even after buying the deluxe edition of the game.

The game's loot box mechanics — while not exclusive to EA — also led to backlash from gamers, triggering European regulators to investigate whether the feature constituted gambling.

In November 2017, U.S. Senator Chris Lee called it a "predatory practice" from EA. "This game is a Star Wars-themed online casino designed to lure kids into spending money. It's a trap," he said in a press conference.

A creative reset or more of the same?With EA no longer beholden to quarterly earnings reports, gamers may hope the company will take more creative risks. But analysts are divided.

"Of course, the company will be in a position to explore more creative games," said Michael Pachter, managing director at Wedbush Securities. "But that isn't really something they are particularly good at — especially if current management remains in place."

Pachter expects EA to double down on its live-service model and significantly grow its mobile gaming business under the PIF.

"I suspect the Saudis will roll out new mobile games for all EA Sports, Sims and Battlefield titles," Patcher said, highlighting that the PIF, through Savvy Games Group, owns Scopely and Niantic, "two of the best mobile game publishers in the business."

Michael Futter, founder of video game industry consultancy F-Squared, echoed this view. He noted that the deal will saddle EA with $20 billion in debt, pushing it to lean harder on stable revenue streams like "microtransactions, battle passes, FOMO-style [fear of missing out] rotating inventory [of] in [game] storefronts."

A rotating inventory in a game storefront usually refers to sales of items or battle passes within a limited time, enticing players to buy them quickly or miss out.

Gaming glossary:

Battle pass: A tiered system which rewards players with virtual items for completing various objectives in gameplay, and may be offered in a limited time period. Some battle passes can be bought with real money.

Futter believes EA will consolidate around its safest franchises, such as The Sims, Battlefield, and sports titles, rather than experiment with new IPs.

"The debt hanging over their head isn't likely to create a shift in strategy. Instead, it will likely see leadership entrench themselves in the titles they think have the largest revenue potential, even if those also carry the largest risk."

He added, "I don't know how EA is going to service this debt without significant layoffs, studio closures, and possibly IP sell-off."

I don't know how EA is going to service this debt without significant layoffs, studio closures, and possibly IP sell-off.

Michael Futter

Founder, F-Squared

But not all analysts are pessimistic. Nick McKay of investment banking platform Freedom Capital Markets believes the buyout could improve the long-term quality of EA's games.

"It provides EA with the opportunity to step back from the public spotlight and invest in games they're passionate about," McKay said. It would allow for EA to try new things without being "penalized" by shareholders if a game didn't do well, he pointed out.

"You don't have to worry about a significant drop in your valuation, because... one of your new titles hasn't worked. So actually, I think it could be a good thing for the long term quality of the release slate," McKay said.

David Cole, CEO of DFC Intelligence, added that in the short term, EA may consider selling off some of its IPs to manage its debt. He cited the "Command and Conquer" series as an example of a franchise with historical value but limited commercial scale.

The last mainline Command and Conquer entry came out in 2012, with only a mobile game after that in 2018.

But in the long term, the company will have the freedom to explore some more options and take some more risk, he said.

watch now

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Trump administration officials have issued several legal threats over ICEBlock, a popular app that allows users to alert others to the presence of nearby immigration agents.

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October 03, 2025 12:40 AM EDT | Source: Thunder Mountain Gold, Inc. - USD
Vancouver, British Columbia and Boise, Idaho--(Newsfile Corp. - October 3, 2025) - Thunder Mountain Gold, Inc. (TSXV: THM) (OTCQB: THMG) (the "Company" or "Thunder Mountain") is issuing this news release in order to clarify that the private placement announced in its news release disseminated earlier today (the "Original News Release") is for an aggregate of up to 10,000,000 units of the Company (each, a "Unit") at a price of US$0.25 (CAD$0.35) per Unit for gross proceeds of up to US$2,500,000 (CAD$3,500,000) (the "Private Placement"). The Original News Release had incorrectly referred to an offering of up to 1,000,000 Units but had correctly stated the aggregate offering proceeds of up to US$2,500,000 (CAD$3,500,000).

Each Unit will consist of one share of the Company's common stock (each, a "Common Share") and one-half common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional share of common stock of the Company at a price of US$0.40 (CAD$0.55) for a period of 24 months from the date of issuance. Subject to regulatory approval, the Company may close the Private Placement in one or more tranches.

The proceeds raised pursuant to the Private Placement will be used for exploration and for general working capital.

The Company has received the conditional approval of the TSX Venture Exchange to the completion of the Private Placement and closing remains subject to satisfaction to the conditions required by the TSX Venture Exchange.

The Private Placement will be made on a private placement basis to accredited investors only pursuant to exemptions from prospectus and registration requirements of applicable securities laws. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States or to "U.S. persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws, or pursuant to exemptions therefrom. The securities issued in the Private Placement will be "restricted securities" under the U.S. Securities Act. The securities issued in the Private Placement will be subject to a four-month hold period in accordance with the policies of the TSX Venture Exchange and applicable Canadian securities legislation.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful.

Regarding Thunder Mountain Gold, Inc.

Thunder Mountain Gold Inc., a junior exploration company founded in 1935, owns interests in base and precious metals projects in the western U.S. The Company's principal asset is The South Mountain Mine, a historic former Anaconda Mining development of zinc, silver, gold, lead, and copper, located on private land in Owyhee County Idaho. Thunder Mountain Gold also owns 100% of the Trout Creek Project - a gold exploration project located along the western flank of the Shoshone Mountain Range in the Reese River Valley, adjacent to and surrounded by Nevada Gold Mines, a Barrick and Newmont Gold, Inc. joint venture. For more information on Thunder Mountain Gold, please visit the Company's website at www.Thundermountaingold.com.

The South Mountain Project

The South Mountain Mine is a polymetallic development project containing high-grade zinc, silver, gold, and copper, and is located on private land approximately 70 miles southwest of Boise, Idaho (See Figure 1 above). The Project is on private land, permitting has been, and should remain straightforward. The Project was intermittently mined from the late from 1940s to the late 1960s, most notably by Anaconda Copper, with over 4,000 feet of underground developmental workings that that have been rehabilitated, re-engineered, and are MSHA compliant. Thunder Mountain Gold Inc. purchased and advanced the project from 2007 through Present, with expenditures into the project of approximately US$25 million. Historic test mining and processing at the Project has mostly come from high-grade Carbonate Replacement Deposits (CRD) and skarn zones that remain open at depth and along strike. According to historical smelter records, approximately 53,642 tons of mineralized material have been mined and direct shipped to the smelter, with average grades; 14.5% Zn, 10.6 o.p.t. Ag (363.42 g/t Ag), 0.058 o.p.t. Au (1.98 g/t Au), 1.4% Cu, and 2.4% Pb were realized (See SK-1300 Technical Resource Statement, and NI 43-101 Technical Report: Updated Mineral Resource Estimate for the South Mountain Project, dated December 31, 2023, and December 15, 2023, respectively. More details are available on the Thunder Mountain Gold Inc. website and at www.SEC.gov, and www.sedarplus.ca).

Forward-Looking Statements

This press release contains forward-looking statements that are based on the beliefs of management and reflect the Company's current expectations. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. The forward-looking statements are based on certain assumptions, which could change materially in the future. By their nature, forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking information. Forward-looking information is provided as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required in accordance with applicable laws.

Cautionary Note to Investors

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269004

Vancouver, British Columbia – TheNewswire - October 2, 2025 – Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) (“NOM” or the “Company”) is pleased to announce that, further to its September 26, 2025 news release, it has closed a non-brokered private placement of 3,500,000 share purchase warrants (each, a “Warrant”) of the Company at an issue price of CAD $0.10 per Warrant for gross proceeds of CAD $350,000 (the “Offering”).  Each Warrant has an exercise price of CAD $0.59 per Warrant (which, upon exercise, will result in a total cost of CAD $0.69 per common share).  If all Warrants issued in the Offering are duly exercised by holders, it will result in an additional $2,065,000 in proceeds being raised by the Company.

Each Warrant entitles the holder to purchase one common share in the capital of the Company (each, a “Share”) at a price of CAD $0.59 per Share for a period of five years from the closing of the Offering, provided that if the Shares have a closing price on the Canadian Securities Exchange (the “CSE”) (or such other securities exchange on which the Shares may be traded at such time) of CAD $1.00 or greater per Share for a period of 10 consecutive trading days at any time after four months and one day from the Closing, then the Company may accelerate the expiry of any outstanding Warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of the Warrants) and, in such case, the Warrants will expire on the tenth (10th) business day after the date of such notice.

The proceeds of the Offering are anticipated to be used for general working capital purposes and mineral exploration of the Choquelimpie Gold-Silver-Copper project.

More information regarding the Offering is available in the Company’s Form 9 posted under the Company’s profile on the CSE website. All Warrants, and any Shares issued on the due exercise of the Warrants, are subject to a restricted period of four months and one day from closing of the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

On Behalf of the Board,

NORSEMONT MINING INC.

Marc Levy

CEO & Chairman

About Norsemont Mining Inc.

The Norsemont team comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through to bankable feasibility, with an initial mineral resource estimate of 2,184,000 indicated gold equivalent ounces and 557,000 inferred gold equivalent ounces for its Choquelimpie Gold-Silver-Copper project. Norsemont Mining owns a 100% interest in the Choquelimpie gold-silver-copper project in northern Chile, a previously permitted gold and silver mine with significant exploration upside. Choquelimpie has over 1,700 drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day mill. Norsemont is committed to responsible and sustainable resource development, leveraging modern exploration techniques to unlock further value for all stakeholders.

For more information, please contact the Company at:

Investor Relations:

Paul Searle (778) 240-7724

Follow Norsemont Mining:

Twitter: @norsemont

LinkedIn: @norsemontmining

Facebook: @norsemontmining

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.  

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the Offering and entry into the marketing agreements.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Offering and marketing agreements contemplated herein and, with respect to the Offering, risks adverse to the capital markets, the mining industry, and investor support. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals and receive market interest to close the Offering on the terms herein.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, except as required by applicable securities laws.

 

Banco Sabadell Chief Executive Officer Cesar Gonzalez-Bueno discusses the lender's rejection of a takeover bid from rival BBVA. The €17 billion ($20 billion) tender offer will end on Oct. 10 and BBVA has been pulling out all the stops to sway investors.

Combination reduced the risk of disease progression or death by 46% and risk of death by 27% in pivotal phase III IMforte study1First and only combination therapy for the first-line maintenance treatment of ES-SCLC, which is critical to help address the high rate of relapse in ES-SCLC2Regimen recommended in National Comprehensive Cancer Network® Guidelines for SCLC*3 Basel, 3 October 2025 - Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today that the U.S. Food and Drug Administration (FDA) has approved Tecentriq® (atezolizumab) and Tecentriq Hybreza® (atezolizumab and hyaluronidase-tqjs) in combination with lurbinectedin (Zepzelca®) for the maintenance treatment of adult patients with extensive-stage small cell lung cancer (ES-SCLC) whose disease has not progressed after first-line induction therapy with Tecentriq or Tecentriq Hybreza, carboplatin and etoposide (CE).4 This approval marks the first and only combination therapy for the first-line maintenance treatment of ES-SCLC, a highly aggressive disease for which treatment options have been limited. The U.S. National Comprehensive Cancer Network® Clinical Practice Guidelines in Oncology (NCCN Guidelines®)* have been updated to include the regimen as a category 2A and preferred option for maintenance treatment of people with ES-SCLC, following induction therapy with Tecentriq and CE.3

“For people with extensive-stage small cell lung cancer and their families, the period after induction therapy is often filled with uncertainty, given the high risk of relapse,” said Roy Herbst, M.D., Ph.D., deputy director and chief of medical oncology and haematology at Yale Cancer Center and Smilow Cancer Hospital. “The Tecentriq and Zepzelca combination provides a new option and a proactive approach in this setting shown to improve progression-free and overall survival in patients who haven't progressed after standard induction treatment with Tecentriq and chemotherapy. The approval may lead to a meaningful shift in how we manage this challenging disease and gives us a new tool to help to delay disease progression and extend survival.”

“The Tecentriq and lurbinectedin combination reduced the risk of disease progression or death by nearly half,” said Levi Garraway, Roche’s Chief Medical Officer and Head of Global Product Development. “We are proud to deliver this advancement for the small cell lung cancer community in partnership with Jazz Pharmaceuticals, as it reflects our abiding commitment to improving outcomes in the hardest-to-treat cancers.”

The FDA approval is based on results from the phase III IMforte study, which showed that the Tecentriq and lurbinectedin combination reduced the risk of disease progression or death by 46% and the risk of death by 27%, compared to Tecentriq maintenance therapy alone. Following 3.2 months of induction therapy, the median overall survival (OS) for the Tecentriq plus lurbinectedin regimen was 13.2 months versus 10.6 months for Tecentriq alone (stratified hazard ratio [HR]=0.73; 95% CI: 0.57–0.95; p=0.0174). Median progression-free survival (PFS) by independent assessment was 5.4 months versus 2.1 months, respectively (stratified HR=0.54; 95% CI: 0.43–0.67; p<0.0001). Safety was generally consistent with the known safety profiles of Tecentriq and lurbinectedin.1

Today’s approval builds on Tecentriq’s established role in ES-SCLC. In 2019, the FDA approved Tecentriq in combination with chemotherapy for the first-line treatment of adults with ES-SCLC, based on the IMpower133 study, which at the time was the first new treatment option in two decades for this patient population.5

About the IMforte study
IMforte [NCT05091567] is a phase III, open-label, randomised trial evaluating the efficacy and safety of Tecentriq® (atezolizumab) plus lurbinectedin (Zepzelca®)  versus Tecentriq alone as first-line maintenance therapy for adults (≥18 years) with extensive-stage small-cell lung cancer (ES-SCLC). Patients first received induction therapy with Tecentriq, carboplatin and etoposide for four 21-day cycles. Those without disease progression were then randomised 1:1 to receive maintenance therapy with either Tecentriq plus lurbinectedin or Tecentriq alone until disease progression or unacceptable toxicity. The study enrolled 660 patients in the induction phase and randomised 483 patients in the maintenance phase. The study’s primary endpoints were independent review facility (IRF)-assessed progression-free survival (PFS) and overall survival (OS) from randomisation into the maintenance phase.1

The trial is sponsored by Roche and co-funded by Jazz Pharmaceuticals.

About Tecentriq® (atezolizumab)
Tecentriq is a monoclonal antibody designed to bind with a protein called PD-L1, which is expressed on tumour cells and tumour-infiltrating immune cells, blocking its interactions with both PD-1 and B7.1 receptors. By inhibiting PD-L1, Tecentriq may enable the re-activation of T cells. Tecentriq may also affect normal cells.

Tecentriq has been approved for some of the most aggressive and difficult-to-treat forms of cancer and is the first PD-(L)1 cancer immunotherapy available in both subcutaneous and intravenous formulations. Tecentriq was the first cancer immunotherapy approved for the treatment of a certain type of early-stage (adjuvant) non-small cell lung cancer (NSCLC), small cell lung cancer (SCLC) and hepatocellular carcinoma (HCC). Tecentriq is also approved in countries around the world, either alone or in combination with targeted therapies and/or chemotherapies, for various forms of metastatic NSCLC, certain types of metastatic urothelial cancer (mUC), PD-L1-positive metastatic triple-negative breast cancer (TNBC), BRAF V600 mutation-positive advanced melanoma and alveolar soft part sarcoma (ASPS).

About Roche in cancer immunotherapy
To learn more about Roche’s scientific-led approach to cancer immunotherapy, please follow this link: https://www.roche.com/solutions/focus-areas/oncology/cancer-immunotherapy

About Roche
Founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines, Roche has grown into the world’s largest biotechnology company and the global leader in in-vitro diagnostics. The company pursues scientific excellence to discover and develop medicines and diagnostics for improving and saving the lives of people around the world. We are a pioneer in personalised healthcare and want to further transform how healthcare is delivered to have an even greater impact. To provide the best care for each person we partner with many stakeholders and combine our strengths in Diagnostics and Pharma with data insights from the clinical practice.

For over 125 years, sustainability has been an integral part of Roche’s business. As a science-driven company, our greatest contribution to society is developing innovative medicines and diagnostics that help people live healthier lives. Roche is committed to the Science Based Targets initiative and the Sustainable Markets Initiative to achieve net zero by 2045.

Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan.

For more information, please visit www.roche.com.

ZEPZELCA is a trademark of Pharma Mar, S.A. used by Jazz Pharmaceuticals under license.

All trademarks used or mentioned in this release are protected by law.

*NCCN makes no warranties of any kind whatsoever regarding their content, use or application and disclaims any responsibility for their application or use in any way.

References
[1] Paz-Ares L, et al. Lurbinectedin (lurbi) + atezolizumab (atezo) as first-line (1L) maintenance treatment (tx) in patients (pts) with extensive-stage small cell lung cancer (ES-SCLC): Primary results of the phase 3 IMforte trial. Presented at: ASCO Annual Meeting; 2025 May 30-Jun 03; Chicago, IL, USA. Abstract #8006.
[2] Paz-Ares L, et al. Unmet Needs in Maintenance Therapy for Extensive Stage Small Cell Lung Cancer. Clinical Lung Cancer. 2025;26(3): 168-178.
[3] National Comprehensive Cancer Network (NCCN). NCCN Guidelines® small cell lung cancer version 2.2026. [Internet; cited September 2025]. Available from: https://www.nccn.org/guidelines/guidelines-detail?category=1&id=1462.
[4] TECENTRIQ Prescribing Information. Genentech, Inc.
[5] F. Hoffman-La Roche Ltd. FDA approves Roche's Tecentriq in combination with chemotherapy for the initial treatment of adults with extensive-stage small cell lung cancer [Internet; cited September 2025]. Available from: https://www.roche.com/media/releases/med-cor-2019-03-19.

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Media & Investor Release IMForte FDA approval English

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