Market Signal Briefing

Posted: September 29, 2025

Key Takeaways
Which Ethereum ETFs were most affected by outflows?
The Fidelity Ethereum Fund (FETH) experienced the largest outflows at over $362 million, followed by BlackRock’s ETHA fund, with more than $200 million exiting.

How did Ethereum’s price perform during this period?
Ethereum traded at $3,990.17, down 0.58% on the day and 10.78% over the past week, reflecting short-term market volatility.

Ethereum [ETH] has been making headlines recently, not just for its price movements, but also due to heightened network activity that has drawn investor attention.

Yet, despite the buzz, spot Ethereum ETFs faced a historic drain last week, recording their largest weekly outflows on record.

Ethereum ETF analysis
Data from Farside Investors shows that for the week ending the 26th of September, these ETFs saw $795.6 million in outflows amid a trading volume surpassing $10 billion.

The ETFs just edged out the previous notable week of the 5th of September, which saw $787.7 million exit the funds.

BlackRock’s industry-leading ETHA fund saw more than $200 million exit, even though the fund still manages over $15.2 billion in assets.

Meanwhile, the Fidelity Ethereum Fund (FETH), the third-largest Ethereum ETF by assets under management, experienced the largest outflows among its peers, with over $362 million pulled during the same period.

Grayscale’s ETHE also reported notable withdrawals, highlighting a broader trend of investor caution in the Ethereum market.

The outflows coincided with Ethereum’s price slipping below the $4,000 mark, trading at $3,990.17, down 0.58% on the day and 10.78% over the past week, according to CoinMarketCap.

The retreat in ETF flows mirrors the wider market sentiment, as investors appeared to pull back amid short-term volatility.

Spot Bitcoin ETFs faced similar pressures
Weekly outflows across available Bitcoin [BTC] ETFs totaled $902.5 million, with Fidelity’s FBTC leading the pack in withdrawals.

Bitcoin itself traded at $109,352.01, reflecting a modest daily decline of 0.02% and a 5.53% drop over the week, according to CoinMarketCap.

What’s more?
This coincided with the SEC has postponing decisions on multiple crypto ETF and staking applications, pushing review deadlines into late October and mid-November.

Major issuers, including BlackRock, Franklin Templeton, Fidelity, 21Shares, and Grayscale, are among those affected.

Yet, despite these delays, market optimism remains, with Ripple [XRP] Futures reaching record highs and new filings emerging, such as VanEck’s proposed Spot Hyperliquid ETF and the first U.S.-based Dogecoin [DOGE] ETF.

Ishika Kumari is a Crypto Analyst and Content Strategist at AMBCrypto, specializing in the analysis of cryptocurrency regulations, market trends, and the socio-political impact of blockchain technology.
Her expertise is grounded in her academic background as a graduate of Political Science from the renowned University of Delhi. This discipline has equipped her with a sophisticated framework for analyzing complex governance models, international regulatory landscapes, and the economic principles that underpin decentralized systems.
At AMBCrypto, Ishika applies this unique analytical lens to her work. She excels at breaking down intricate subjects—from the technicalities of new protocols to the nuances of global crypto legislation—into clear, accessible, and insightful content. Her primary mission is to bridge the gap between the complexity of the digital asset industry and the everyday reader, ensuring that AMBCrypto's audience is not just informed, but truly understands the forces shaping the future of finance.

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Ripple CEO Brad Garlinghouse’s comments have long emphasized that the value of XRP is rooted in its utility in the financial world rather than speculation or replacing traditional finance as a whole. One of such comments was made in an old interview which has resurfaced to catch the eye of some XRP investors on the social media platform X. Years later, those comments are being revisited as XRP continues to push for adoption in global markets and as investors are counting down to the SEC’s upcoming decision on Spot XRP ETF applications.

Utility Over Hype: Revisiting Garlinghouse’s Message
A recent video which was posted on the social media platform X by popular XRP commentator JackTheRippler ties back into an interview where Garlinghouse noted how trillions in capital could pour into XRP in the coming years. In that conversation, Garlinghouse explained that hype alone cannot sustain the value of any cryptocurrency, insisting instead that true growth comes from solving real-world problems and building a customer base.

These comments were made in a 2017 interview on CNBC’s Squawk Alley, at a time when cryptocurrencies were mostly valued on speculation alone. In the interview, Garlinghouse pointed out that XRP wasn’t just created to trade on exchanges but was meant to serve a real purpose, which is settling liquidity between banks. At the time, he noted that more than $27 trillion was sitting idle in correspondent banking accounts worldwide to facilitate payments between themselves. 

🚨RIPPLE CEO SAYS THAT #XRP SETTLES MONEY IN SECONDS!

TRILLIONS IN CAPITAL COULD POUR INTO XRPL. DRIVEN BY REAL TOKEN, BUILT TO TOKENIZE THE ENTIRE REAL ESTATE SECTOR! DYOR/NFA

💥 GET REAL TOKEN HERE: https://t.co/kYx7u3Ko4Z pic.twitter.com/seidvGLqdy

— JackTheRippler ©️ (@RippleXrpie) September 27, 2025

His vision was that XRP, with its ability to settle transactions in seconds, could free up that capital and make cross-border payments much more efficient. “We use this digital asset called XRP to settle liquidity needs between banks,” he said.

XRPUSD currently trading at $2.78. Chart: TradingView
Even though those words were spoken years ago, they still fit into today’s conversations about XRP. Its adoption potential in the worldwide financial system continues to be the foundation of why many investors believe XRP can stand apart from other cryptocurrencies.

Countdown To US SEC’s Spot XRP ETF Decision
The attention surrounding XRP nowadays is shifting to the regulatory front, with many investors awaiting the outcome of pending Spot XRP ETF applications. After Bitcoin and Ethereum won approval for similar products, many see XRP as the next logical step given its position as the third-largest cryptocurrency.

The US SEC has introduced new listing standards designed to speed up crypto ETF approvals, cutting the review window to 75 days or less. Grayscale’s filing is due for a decision on October 18, followed by 21Shares on October 19, Bitwise on October 20, CoinShares and Canary Capital on October 23, and WisdomTree on October 24.

The eventual launch of a Spot XRP ETF could be the turning point that helps the cryptocurrency take its place alongside Bitcoin and Ethereum in traditional finance.

At the time of writing, XRP was trading at $2.79.

Featured image from Istockphoto, chart from TradingView

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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.

Binance has once again demonstrated its influence in the crypto ecosystem by rewarding BNB holders through the HODLer Airdrop program, this time supporting Falcon Finance (FF), a rapidly growing stablecoin project. Developed by Andrei Grachev of DWF Labs, Falcon Finance has already achieved a Total Value Locked (TVL) exceeding $100 million within just one month of its beta launch, signaling strong demand from both retail and institutional investors.

Posted: September 29, 2025

Key Takeaways
Why is Ethereum’s price stuck?
Because current buying is being matched by selling, keeping ETH flat even as reserves drop.

Could Ethereum see a short squeeze soon?
With most downside liquidity absorbed and liquidation targets stacked above, a small price move could trigger a sharp short squeeze.

Ethereum [ETH] is up to something big. Over the past few days, sell pressure quietly eased as Exchange Reserves declined while investors moved ETH off trading platforms.

Source: CryptoQuant

With downside liquidity already absorbed, all that’s missing is a spark. And if demand kicks in, even a small catalyst could be enough to send ETH to the moon!

Shorts are running out of room
According to CryptoQuant data, most of the sell pressure has already been absorbed, leaving far fewer liquidation targets below the current price.

What’s interesting is that the bulk of liquidation clusters sat above ETH’s level – a setup that tilts the odds toward an upside squeeze.

Source: CryptoQuant

In simple terms, if ETH makes even a modest move higher, it could force shorts to close positions quickly, triggering a chain reaction of liquidations. That’s how sharp, sudden rallies begin.

Exchange Reserves are falling, but price refuses to budge
ETH steadily flowed out of spot exchanges, which usually shows that investors are buying and moving their coins into self-custody or staking. That’s a bullish sign of trust.

But here’s the twist. Despite these big outflows, the price hasn’t budged much. Why?

Because while buyers are active, sellers are still matching that demand, keeping ETH stuck in place. This pattern often plays out before major rallies.

Once fresh demand kicks in and tips the balance, lower reserves can amplify the upside move. Right now, the groundwork for that rally is being laid.

Momentum is building
Ethereum’s chart showed price holding just above the $4,000 mark after a drop. The RSI was stuck near 38, and the OBV trend has cooled, so there’s weaker volume support.

Source: TradingView

But here’s the catch. Price is sitting right on the 200-day EMA, a level that often acts like a spring for big moves.

If demand sparks here, ETH could rebound sharply as shorts get caught off guard. For now, it’s a wait, but the setup looks fragile.

One push could be enough to flip the momentum very fast.

Some industry voices believe Circle's plan to introduce a transaction reversibility feature could reinforce bitcoin's appeal as a censorship-resistant asset. Institutional Integration vs. Core Crypto Principles Recent reports indicating that Circle, the issuer of the USDC stablecoin, is weighing whether to add a feature which will enable transaction reversal in certain circumstances has sparked controversy.

As investors await the SEC’s decisions on crypto-spot ETFs, BlackRock’s (BLK) activity in the ETF space could be pivotal for XRP.

An iShares XRP Trust could be crucial to the success of an XRP-spot ETF market, given that the ETF issuer has dominated the BTC–spot and ETH-spot ETF markets. Demand for BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) was pivotal in BTC and ETH reaching record highs in August.

BlackRock’s Head of Digital Assets, Robbie Mitchnick, spoke with Nate Geraci last week about the criteria to list crypto-spot ETFs. While remaining silent on plans for an iShares XRP Trust, he stated:

“We’re looking at things like market cap, liquidity, maturity, but also clarity of investment thesis and overall product and portfolio considerations in terms of how clients’ long-term are going to be able to use products in this space, build the type of portfolio exposures holistically that they want.”

Investor demand could be significant, given that XRP ranks #3 by market cap and considering its real-world utility in global remittances. Notably, investors may also view XRP’s current price level as a strong buying opportunity.

However, it remains uncertain whether BlackRock will list and trade an XRP-spot ETF. Since the SEC approved the Generic Listing Standards for commodity-based shares, ETF issuers may list and trade crypto-spot ETFs that meet the GLS requirements without going through the SEC’s review process.

Behind the scenes, the SEC may, call on issuers to hold back on listing and trading until it has approved the current batch of crypto-spot ETFs. This means BlackRock could list and trade an iShares XRP Trust on October 18 or 19.

Price Action & Technical Analysis: Breakout or Breakdown?
XRP rose 2.17% on Sunday, September 28, following the previous session’s 0.75% gain, closing at $2.8684.

The token tracked the broader market (2.29%), edging closer to the psychological $3 level. Traders are watching the following technical levels:

Support: $2.7 and $2.5.
Resistance: $3, $3.2, $3.335, and the all-time high at $3.66.

In the near term, several key events could dictate price trends:

XRP ETF demand.
Spot ETF headlines: Approval or delays of crypto-spot ETFs and BlackRock’s plans for listing and trading XRP-spot ETFs.
Blue-chip companies’ demand for XRP as a treasury reserve asset.
Regulatory milestones: Ripple’s application for a US-chartered bank license, the Market Structure Bill, and SWIFT-related developments may also influence sentiment.

Catalysts & Scenarios
The balance of ETF flows, regulatory developments, and demand from blue-chip companies could dictate whether XRP breaches support levels or breaks above resistance.

Bearish Scenario

GDLC, BITW, and XRPR ETFs report weak demand or outflows, and BlackRock remains silent on an XRP-spot ETF.
SEC declines XRP-spot ETF applications.
Roadblocks or setbacks to crypto-friendly regulations.
Blue-chip companies downplay appetite for XRP as a treasury reserve asset.
OCC delays or rejects Ripple’s US-chartered bank license.
SWIFT retains market share in global remittances, limiting Ripple’s market access.

These bearish scenarios could push XRP toward $2.7. A drop below $2.7 could bring the $2.5 support level into play.

Bullish Scenario

BITW, GDLC, and XRPR register strong demand.
BlackRock lists and trades an XRP-spot ETF, and the SEC greenlights XRP-spot ETFs.
Blue-chip companies purchase XRP for treasury purposes, and more payment platforms integrate Ripple technology.
Ripple secures a US-chartered bank license, and the Market Structure Bill passes the Senate.
SWIFT loses market share of global remittances to Ripple.

These scenarios could drive XRP toward $3. A break above $3 could pave the way to $3.2.

Bitcoin price action has stirred fresh debate after attempting a bounce near $109,000, sparking speculation of a push back toward $110,000. However, this recovery effort looks fragile and lacks the conviction needed for a true reversal. Technical signals continue to highlight weakness rather than strength.

Recently, Bitcoin slipped under its 50-day EMA at $113,700 and the 100-day EMA at $112,200, both now acting as strong resistance levels. The cryptocurrency is currently hovering just above the 200-day EMA around $106,200, which historically serves as a critical long-term support line for bulls. Yet, this latest bounce did not originate from the 200 EMA but appears instead to be a shallow attempt to reclaim lost ground after several days of heavy selling.

What makes this rebound appear unreliable is the lack of strong buying volume. Unlike previous recoveries from oversold conditions or robust support zones, this move lacks momentum, suggesting buyers are hesitant to step in with force. Trading activity remains muted, reinforcing concerns that any gains could be unwound quickly.

The Relative Strength Index (RSI) is sitting near 38, signaling weakness but not quite oversold levels. This leaves room for further downside if bearish sentiment re-emerges. To confirm a sustainable comeback, Bitcoin must reclaim the $112,000–$114,000 range, where broken EMAs now block the path upward. Only a decisive break above that zone would indicate the possibility of a stronger bullish reversal.

Until then, Bitcoin remains at risk of retesting $106,000 and the 200 EMA, the last significant defense for bulls. Any short-term rallies without meaningful volume are vulnerable to quick reversals. The market’s true test lies ahead: either regain critical resistance levels and rebuild confidence, or face the possibility of another leg lower.

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The company has multiple trends working in its favor.

Chewy (CHWY 4.52%) is the type of stock the market doesn't pay nearly enough attention to because it's in a category that doesn't grab headlines. The company isn't chasing some cutting-edge technology like artificial intelligence (AI) or quantum computing, it's selling pet food and supplies. However, it's built an attractive retail model with significant recurring revenue, and that type of business is very valuable.

Image source: Getty Images.

An attractive Autoship business
The beauty of Chewy is in its business model. The company has close to 21 million active customers, and most importantly, more than 80% of its sales come from customers that have used Autoship in the past year. This program allows Chewy's customers to set up recurring deliveries for items like dog food and cat litter. Autoship sales give Chewy a predictable revenue stream that is much less tied to economic cycles. Add in the fact that about 85% of its sales come from non-discretionary product categories, and you have an e-commerce business that looks a lot closer to Walmart or Tractor Supply Company in terms of resiliency.

Notably, though, Chewy is growing its revenue at a faster pace than these brick-and-mortar retailers, and it's expanding its gross margin by layering in several higher-margin revenue streams. The company has taken a page out of Amazon's playbook by turning to sponsored ads to help drive growth. This business carries gross margins of around 70%, which is more than double the 30% overall gross margin the company posted in Q2.

The company also continues to grow its health and pharmacy business, which can carry gross margins that are as much as 10 percentage points higher than its retail business. While Hims & Hers Health gets a lot of press about its drug compounding business, Chewy is actually one of only two companies in the U.S. that does pet medication compounding at scale, which carries even higher gross margins. With less than a quarter of its customers using its pharmacy services, this business has a long runway of growth.

The company is also leaning into private-label brands, which carry margins about 700 basis points higher than national brands. The company has seen solid momentum in this area and just recently launched a healthy, fresh dog food line called Get Real that competes with Freshpet and others. It has also followed in the steps of Amazon and Walmart by adding a paid membership program with perks that could not only help expand margins but also deepen customer relationships.

Time to buy the stock
Chewy stock pulled back earlier this month after the company reported its fiscal Q2 results due to rising operating expenses. However, results were still strong overall. Revenue jumped 8.6%, led by a 14.9% increase in Autoship customer sales (which includes all sales from recent Autoship customers, regardless of whether those sales were made through the subscription program). Meanwhile, it added 150,000 new customers in the quarter and saw its net sales per active customer climb 4.6% to $591.

The longer-term outlook for the company is also attractive. Pet ownership has been climbing for decades, and people continue to treat pets more like family, which is increasing their spending. Chewy has positioned itself not only as the go-to online retailer for pet food and supplies but also increasingly for pet health, where spending is rising even faster.

Lastly, the stock is attractively priced with a forward price-to-earnings (P/E) ratio of around 25 based on fiscal 2026 analyst estimates. That's a nice discount compared to other recession-resistant retailers such as Costco and Walmart, and similar to Tractor Supply Company.

Data by YCharts.

What investors are missing is that Chewy has already built a repeat customer base most e-commerce companies would envy, and it's now targeting new opportunities that should lead to earnings growth outpacing sales growth for years. The recent sell-off on a temporary uptick in expenses does not change that.

Chewy deserves a lot more attention than it is getting. Investors who are willing to buy this top e-commerce stock while it is still overlooked could enjoy market-beating returns long term.

Geoffrey Seiler has positions in Chewy. The Motley Fool has positions in and recommends Amazon, Chewy, Costco Wholesale, Freshpet, Hims & Hers Health, Tractor Supply, and Walmart. The Motley Fool recommends the following options: short October 2025 $60 calls on Tractor Supply. The Motley Fool has a disclosure policy.

Numerous trends working in the company's favor make this stock a smart dividend growth investment.

Had an investor bought $1,000 worth of stock in Badger Meter (BMI 0.92%) and its water management solutions in 1990 and held until today while reinvesting dividends, it would be worth $288,000.

While the water innovation leader will be hard-pressed to repeat those results over the next 35 years, Badger Meter stock is still only at a $5 billion market cap despite this incredible run.

Simply put, Badger Meter's growth story has plenty of room to run, and it looks like an excellent dividend growth stock to consider if you have $1,000 available to invest right now -- especially with its shares down 32% from their highs.

Badger Meter's top-tier sales and dividend growth
Though the company's flow measurement and advanced metering infrastructure products don't typically elicit thoughts of massive growth potential, Badger Meter has proved otherwise.

Its sales and free cash flow (FCF) have grown by 15% and 16% over the last five years, while management has increased the dividend by 14% at the same time.

With most water and sewer utilities in the United States still largely mechanical and outdated, Badger Meter's end-to-end BlueEdge solution aims to bring these utilities into the modern era.

Image source: Getty Images.

Whether it is the company's continuous monitoring, always-on connectivity, or its full suite of software solutions, the products will only become more important over time as regulations tighten and quality standards increase.

In addition to having the support of this decades-long megatrend, Badger Meter has an excellent track record as a serial acquirer. It has scooped up 14 companies since 2010 and is continuously reinforcing its leadership position.

Adding numerous software and technology solutions via these acquisitions, the company's FCF margin has jumped from 6% in 2015 to 18% today as its software-as-a-service (SaaS) sales balloon.

This burgeoning FCF generation is what makes Badger Meter such a promising dividend growth investment for investors.

While its 0.8% dividend yield may not be jaw-dropping, it only uses 25% of the company's FCF to make dividend payments to shareholders. This figure shows there is a lot of room for further dividend growth, especially as Badger Meter's FCF margin continues to trend higher.

Josh Kohn-Lindquist has positions in Badger Meter. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

AGNC Investment has a massive 14%+ yield, but buying for the yield alone could set you up for disappointment.

AGNC Investment (AGNC 0.87%) is likely to show up on a lot of dividend screens thanks to its massive 14%+ dividend yield. A yield that high can often be a sign of a troubled business, but not in the case of this mortgage real estate investment trust (mREIT). In fact, the mREIT does a fairly good job at achieving its main goal. The problem is that the goal AGNC is working toward may not be the goal you have in mind. Here's what you need to know.

What does AGNC Investment do?
AGNC Investment operates in a niche of the real estate investment trust sector. Property-owning REITs buy physical assets and lease them out to tenants, which is what you would do if you owned a rental property. It's a fairly easy business model to wrap your head around. AGNC doesn't do that; it buys mortgages that have been pooled into bond-like securities. That's not an easy business model to understand.

Image source: Getty Images.

In many ways, AGNC Investment is more like a mutual fund than a property-owning REIT. In fact, AGNC even provides investors with a metric it calls tangible net book value per share each quarter. This figure is, basically, the value of the mortgage security portfolio on a per-share basis. It is similar to the net asset value (NAV) that a mutual fund reports daily.

This is more important than it may seem, because AGNC Investment's objective isn't to generate a reliable income stream. The goal is "favorable long-term stockholder returns with a substantial yield component." Essentially, the goal is total return, which requires that dividends get reinvested. If you are trying to use the dividends you collect from AGNC to pay for living expenses, you are likely to be let down by this investment.

How has AGNC Investment performed?
Starting with AGNC's actual objective, the mortgage REIT has done a pretty good job. As the chart below highlights, reinvesting the dividends you receive from AGNC Investment would leave you with a total return that is fairly close to that of the S&P 500 index (^GSPC 0.59%) since the mREIT went public. And since the two graphs don't match up perfectly, AGNC looks like it could add some important diversification to your portfolio.

AGNC Total Return Level data by YCharts

The problem arises when you look past total return to examine the stock price and dividend history. When you do, you see that AGNC Investment's dividend is highly volatile. In fact, it has been heading lower for around a decade. The stock price has tracked along with the dividend. The outcome is that investors that spent the dividend would have ended up with less capital and less income. That's not what most dividend investors are looking for.

AGNC data by YCharts

There's a caveat here, though. If you add up all of the dividends that have been paid by AGNC over its history and compare that to the drop in the price of the stock, you'll find some interesting figures. Basically, more dividends have been paid out than value has been lost due to stock price declines. So, from a big-picture perspective, dividend investors have done OK. And still, less income and less capital is not what most dividend investors are likely to be looking for.

AGNC Investment isn't bad; it is just a specialized investment
AGNC Investment has largely achieved its total return goal. The problem is that most dividend investors don't have the same goal. Most dividend investors want a dividend and stock price that are stable or growing over time. If you get too caught up in the huge yield AGNC is offering, you might end up owning something that doesn't align well with your investment goals.

Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

September 28, 2025 19:30 ET

 | Source:

Biogen Inc.

TOKYO and CAMBRIDGE, Mass., Sept. 28, 2025 (GLOBE NEWSWIRE) -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, “Eisai”) and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, “Biogen”) announced today that humanized anti-soluble aggregated amyloid-beta (Aβ) monoclonal antibody “LEQEMBI®” (brand name in China: “乐意保®”, generic name: lecanemab) has been approved for once every four weeks intravenous (IV) maintenance dosing by the National Medical Products Administration (NMPA) in China.

In January 2024, LEQEMBI was approved for the treatment of Alzheimer's disease (AD) in patients with mild cognitive impairment (MCI) or mild dementia stage of disease (collectively referred to as early AD) in China. After 18 months of a dosing regimen of 10 mg/kg once every two weeks during initiation phase, a transition to the maintenance dosing regimen of 10 mg/kg once every four weeks may be considered or the regimen of 10 mg/kg once every two weeks may be continued.

AD is a progressive, relentless disease characterized by formation of protein deposits known as plaques made of amyloid-beta aggregates and neurofibrillary tangles made of tau protein in the brains of people living with AD. It is caused by a continuous underlying neurotoxic process that begins before amyloid plaque accumulation and continues after plaque removal.1,2,3,4 The data show that Aβ protofibrils* and tau tangles play roles in the neurodegeneration process,2,3 and LEQEMBI is the only approved therapy that fights AD in two ways — targeting both amyloid plaque and protofibrils, which can impact tau downstream.

Eisai estimates that, as of 2024, there were 17 million patients with MCI or mild dementia due to AD in China in 2024, which is expected to increase with the aging of the population.

Eisai serves as the lead for lecanemab’s development and regulatory submissions globally with Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. In China, Eisai distributes the product and conducts information provision activities through specialized Medical Representatives.

*Protofibrils are believed to contribute to the brain injury that occurs with AD and are considered to be the most toxic form of Aβ, having a primary role in the cognitive decline associated with this progressive, debilitating condition.1 Protofibrils cause injury to neurons in the brain, which in turn, can negatively impact cognitive function via multiple mechanisms, not only increasing the development of insoluble Aβ plaques but also increasing direct damage to brain cell membranes and the connections that transmit signals between nerve cells or nerve cells and other cells. It is believed the reduction of protofibrils may prevent the progression of AD by reducing damage to neurons in the brain and cognitive dysfunction.4 MEDIA CONTACTS Eisai Co., Ltd.
Public Relations Department
+81 (0)3-3817-5120Eisai Europe, Ltd.
(UK, Europe, Australia, New Zealand and Russia)
EMEA Communications Department
+44 (0) 7739 600678
[email protected]

Eisai Inc. (U.S.)
Libby Holman
+ 1-201-753-1945
[email protected]

Biogen Inc.
Madeleine Shin
+ 1-781-464-3260
[email protected] CONTACTS Eisai Co., Ltd.
Investor Relations Department
+81 (0) 3-3817-5122Biogen Inc.
Tim Power
+ 1-781-464-2442
[email protected] Notes to Editors
1.About LEQEMBI (generic name: lecanemab, Chinese brand name: 乐意保)
Lecanemab is the result of a strategic research alliance between Eisai and BioArctic. It is a humanized immunoglobulin gamma (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ). Protofibrils are believed to contribute to the brain injury that occurs with AD and are considered to be the most toxic form of Aβ, having a primary role in the cognitive decline associated with this progressive, debilitating condition.Lecanemab has been approved in 50 countries and is under regulatory review in 10 countries. Following the initial phase with treatment every two weeks for 18 months, intravenous (IV) maintenance dosing with treatment every four weeks was approved in China, the U.S. and others, and applications have been filed in 5 countries and regions.LEQEMBI's approvals in these countries were based on Phase 3 data from Eisai's, global Clarity AD clinical trial, in which it met its primary endpoint and all key secondary endpoints with statistically significant results. The primary endpoint was the global cognitive and functional scale, Clinical Dementia Rating Sum of Boxes (CDR-SB).1,5 The U.S. FDA approved Eisai’s Biologics License Application (BLA) for subcutaneous maintenance dosing with LEQEMBI IQLIK in August 2025. In September 2025, the rolling sBLA application to the U.S. FDA for the subcutaneous initiation dosing with LEQEMBI IQLIK was also initiated.

Since July 2020 the Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S, funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, is ongoing and includes lecanemab as the backbone anti-amyloid therapy.

2.About the Collaboration between Eisai and Biogen for AD
Eisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority.

3.About the Collaboration between Eisai and BioArctic for AD
Since 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015.4.About Eisai Co., Ltd.
Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai. Co., Ltd.), us.eisai.com (for U.S. headquarters: Eisai, Inc.) or www.eisai.eu (for Europe, Middle East, Africa, Russia, Australia and New Zealand headquarters: Eisai Europe Ltd.), and connect with us on X (global and U.S), LinkedIn (for global, U.S. and EMEA) and Facebook (global).

5.About Biogen
Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patients’ lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth. The company routinely posts information that may be important to investors on its website at www.biogen.com. Follow Biogen on social media – Facebook, LinkedIn, X, YouTube. Biogen Safe Harbor
This news release contains forward-looking statements, including about the potential clinical effects of lecanemab; the potential benefits, safety and efficacy of lecanemab (marketed as 乐意保 in China); potential regulatory discussions, submissions and approvals and the timing thereof; the causes and treatment of Alzheimer's disease; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These statements may be identified by words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "possible," "potential," "will," "would" and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later stage or larger scale clinical studies and do not ensure regulatory approval. You should not place undue reliance on these statements. Given their forward-looking nature, these statements involve substantial risks and uncertainties that may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements.These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part. We caution that these statements are subject to risks and uncertainties, many of which are outside of our control and could cause future events or results to differ materially from those stated or implied in this document, including, among others, uncertainty of our long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; expectations, plans, prospects and timing of actions relating to product approvals, approvals of additional indications for our existing products, sales, pricing, growth, reimbursement and launch of our marketed and pipeline products; the potential impact of increased product competition in the biopharmaceutical and healthcare industry, as well as any other markets in which we compete, including increased competition from new originator therapies, generics, prodrugs and biosimilars of existing products and products approved under abbreviated regulatory pathways; our ability to effectively implement our corporate strategy; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; the drivers for growing our business, including our dependence on collaborators and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; risks related to commercialization of biosimilars, which is subject to such risks related to our reliance on third-parties, intellectual property, competitive and market challenges and regulatory compliance; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; and the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; and any other risks and uncertainties that are described in reports we have filed with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov.These statements speak only as of the date of this press release and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in our subsequent reports on Form 10-Q. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.

   References

Eisai presents full results of lecanemab Phase 3 confirmatory Clarity AD study for early Alzheimer's disease at Clinical Trials on Alzheimer's Disease (CTAD) conference. Available at: https://www.eisai.co.jp/news/2022/news202285.htmlHampel H, Hardy J, Blennow K, et al. The amyloid pathway in Alzheimer's disease. Mol Psychiatry. 2021;26(10):5481-5503.Amin L, Harris DA. Aβ receptors specifically recognize molecular features displayed by fibril ends and neurotoxic oligomers. Nat Commun. 2021;12:3451. doi:10.1038/s41467-021-23507-zOno K, Tsuji M. Protofibrils of Amyloid-β are Important Targets of a Disease-Modifying Approach for Alzheimer's Disease. Int J Mol Sci. 2020;21(3):952. doi: 10.3390/ijms21030952. PMID: 32023927; PMCID: PMC7037706.van Dyck. C, et al. Lecanemab in Early Alzheimer’s Disease. The New England Journal of Medicine. DOI: 10.1056/NEJMoa2212948. https://www.nejm.org/doi/full/10.1056/NEJMoa2212948

Targeting Phase 1 commissioning by the end of 2026 HIGHLIGHTS Existing fully permitted Central Gawler Mill adjacent to brownfield Challenger mines Challenger JORC (2012) Mineral Resources Estimate now 313koz Au (10.6Mt @ 0.92 g/t), including 194koz Au (1.87Mt @ 3.23 g/t) in existing open pit and underground mines, where: Challenger Main Open Pit: 70,000oz Au (0.65Mt @ 3.36 g/t Au); Challenger West Open pit: 11,600oz Au (0.03Mt @ 10.7 g/t Au); Challenger Underground (above 215mRL): 89,400oz Au (0.98Mt @ 2.84 g/t Au); and Challenger Deeps (below 90mRL): 23,000oz Au (0.21Mt @ 3.50 g/t Au). Historical tailings storage facility with coarse, higher-grade tailings up to 0.6 - 1.0 g/t Au Evaluating de-risked, two phase transition to operations with initial tailings reprocessing ('Phase 1') followed by the introduction of high-grade (~3 g/t) fresh ore ('Phase 2') Targeting Phase 1 commissioning by end of 2026; credit finance conversations underway ADELAIDE, AU / ACCESS Newswire / September 28, 2025 / Barton Gold Holdings Limited (ASX:BGD)(OTCQB:BGDFF)(FRA:BGD3) (Barton or Company) is pleased to announced that a Definitive Feasibility Study (DFS) has started, targeting 'Stage 1' production utilising the fully permitted Central Gawler Mill (CGM) located at Barton's South Australian Challenger Gold Project (Challenger).

You don't need super-intelligence to figure out why these two dividend stocks are smart long-term investments.

"The true investor...will do better if he forgets about the stock market and pays attention to his dividend returns." -- Benjamin Graham

Many investors follow closely the ups and downs of the stock market, waiting for share price gains. Many investors also overlook another strong source of returns: the dividends many companies dish out to shareholders. If you're browsing for ideas, here are two rock-solid companies with economic moats and a dividend to pay you while you sleep!

Flying high
When it comes to investments, a pretty good place to start is the U.S. Department of Defense, the largest military budget on planet Earth. It's what has made Lockheed Martin (LMT 0.66%) a bellwether of the defense contracting industry after deriving roughly 75% of its $71 billion in sales last year servicing contracts from the DoD.

The great news for long-term investors is that it's a stable source of revenue, as its F-35 contract is the largest defense procurement program ever awarded, and goes through the 2060s. You also won't be shocked to hear that so-called rivals, such as China, Russia, and even hot spots like Iran and North Korea, aren't going away anytime soon. As such, the U.S. defense spending is likely to increase under the Pentagon's focus to modernize the military's ability -- and that's good news for Lockheed Martin investors.

F-35A Lightning II Image source: Lockheed Martin.

Further, Lockheed sent a memo to investors recently, reminding everyone that it also makes pretty impressive drones, too. Not even a week ago, Lockheed unveiled Vectis, a "lethal collaborative combat aircraft to advance unparalleled air dominance for American and allied militaries."

Vectis is a drone designed to work with fighter jets and intended to be a fast-developed, stealthy, and affordable jet. It's a good sign for long-term investors who were concerned Lockheed's business would suffer if drones began replacing manned platforms, such as its lucrative F-35, over the coming decades.

Lockheed trades at a price-to-earnings ratio of 27 times, and also offers investors a healthy dividend yield of 2.7%, while investors enjoy the stability of its long-term lucrative F-35 contract as well as its expanding drone business.

Big time brewer
Ambev (ABEV 0.22%) is the largest brewer in Latin America and the Caribbean, and is Anheuser-Busch InBev's subsidiary in the region; it produces, distributes, and sells beer as well as PepsiCo products in Brazil and other Latin American countries and was formed in 1999 through a merger of Brazil's two largest beverage companies, Brahma and Antarctica.

With that history lesson aside, the company has proven it can dominate markets. In fact, Ambev has monopolistic positions across regions that include roughly 60% beer market share in Brazil, 65% in Argentina, El Salvador, and Uruguay, and over 70% in Bolivia, according to Morningstar.com.

Here's the upside for investors: Per capita beer consumption across most Latin American countries is lower than typically found in developed countries, which should pave the way for valuable volume growth for Ambev. The company also has a trick up its sleeve because there's been a noticeable trend of consumers opting for foreign beers over domestic ones, which is an opportunity for Ambev to leverage Anheuser-Busch InBev's wide premium portfolio that includes Budweiser, Corona, and Michelob Ultra.

It's tough for regional competition to match the scale of Ambev, and the company should be able to maintain its market share through economic cycles while still dishing out its high-yield dividend of 7.6%.

Time to buy?
Both of these stocks offer investors a healthy dividend, long-term potential, and competitive advantages. The product complexity in Lockheed Martin's defense business helps keep new entrants on the sidelines, while its lengthy F-35 contract gives financial stability and transparency. Ambev has a strong scale advantage over regional peers and plenty of room for growth if developing countries increase their beer consumption and continue reaching for premium import brands. Both stocks can be cornerstones in many portfolios looking for some dividend income.

Daniel Miller has no position in any of the stocks mentioned. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy.

A flame rises from a chimney of an oil field in Iraq's Kurdistan region, August 16, 2014. REUTERS/Azad Lashkari/File Photo Purchase Licensing Rights, opens new tab

SummaryKurdistan crude flows to Turkey resumes after 2-1/2 year haltOPEC+ plans another oil output hike in November, sources sayRussia pounds Ukraine in mass drone and missile attackSINGAPORE, Sept 29 (Reuters) - Oil prices slipped nearly 1% on Monday after Iraq's Kurdistan region resumed crude oil exports via Turkey over the weekend and as OPEC+ plans another oil output hike in November, adding to global supplies.

Brent crude futures fell 63 cents, or 0.90%, to $69.50 a barrel by 0023 GMT after settling at the highest since July 31 on Friday. U.S. West Texas Intermediate crude was trading at $65.07 a barrel, down 65 cents, or 0.99%, giving back most of Friday's gains.

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"Ongoing fears of production increase are limiting gains, but a tight near term outlook has crude prices in a vice as the trading week begins," said Michael McCarthy, CEO of investor platform Moomoo Australia and New Zealand.

Crude oil flowed on Saturday through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Turkey for the first time in 2-1/2 years, after an interim deal broke a deadlock, Iraq's oil ministry said.

The agreement between Iraq's federal government, the Kurdistan regional government (KRG) and foreign oil producers operating in the region will allow 180,000 to 190,000 barrels per day of crude to flow to Turkey's Ceyhan port, Iraq's oil minister told Kurdish broadcaster Rudaw on Friday.

The U.S. had pushed for a restart, which is expected to eventually bring up to 230,000 bpd of crude back to international markets at a time when OPEC+ is boosting output to gain market share.

The Organization of the Petroleum Exporting Countries and their allies, or OPEC+, will likely approve another crude production hike of at least 137,000 bpd at its meeting on Sunday, as rising oil prices encourage the group to try to further regain market share, three sources familiar with the talks said.

However, OPEC+ has been pumping almost 500,000 bpd less than its targets, defying market expectations of a supply glut.

Brent and WTI rose more than 4% last week, their biggest weekly gains since June, as Ukraine's drone attacks on Russia's energy infrastructure cut the country's fuel exports.

Russia pounded Kyiv and other parts of Ukraine early on Sunday in one of the most sustained attacks on the capital since the full-scale war began.

Reporting by Florence Tan; Editing by Leslie Adler and Jamie Freed

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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.

1 hour ago

Bitcoin will perform like Nvidia and record several major corrections on its path to new all-time highs, analyst Jordi Visser said.

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The path to new Bitcoin (BTC) all-time highs will continue to feature major corrections of 20% or more, including possible corrections during Q4, despite it typically being a good quarter for crypto asset prices, according to market analyst Jordi Visser.

Visser said Bitcoin is part of the AI trade and compared BTC to Nvidia, a high-performance computer chip manufacturer that has become the world’s most valuable publicly traded company and the first public company to hit a $4 trillion valuation. Visser said:

“I just want to remind people that Nvidia is up over 1,000% since ChatGPT’s launch. During that time period, which is less than three years, you've had five corrections of 20% or more in Nvidia before it went back up to all-time highs. Bitcoin's going to do the same thing.”Nvidia’s stock performance shown as price candles, while Bitcoin is displayed as a magenta line. Both have experienced sharp corrections despite the bull market. Source: TradingviewAs artificial intelligence takes over more sectors of the economy and replaces human labor, it will erode traditional companies and make stocks obsolete, driving investors to BTC, which will be the best store of value in the digital age, Visser predicted.

The price of Bitcoin is one of the most debated and analyzed topics in crypto, as market analysts attempt to forecast the digital currency’s price trajectory amid a time of rapid technological innovation, market disruption, and fiat currency debasement.

Analysts grapple with slow-moving Bitcoin performanceMarket analysts are watching gold and stocks hit new all-time highs while Bitcoin’s price remains near the $110,000 level, down by about 11% from its all-time high of over $123,000.

Investors are divided on whether new highs are possible in Q4, catapulting BTC to about $140,000, or if the recent drawdown represents the start of a prolonged bear market that could take BTC’s price down to $60,000.

Regulatory hurdles and the lack of progress on a Bitcoin strategic reserve in the United States that grows through periodic market purchases have dampened expectations for some analysts.

Previously, some analysts forecast that US government purchases of BTC for a national Bitcoin reserve would be a major price catalyst for the digital asset in 2025.

Magazine: Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon

The digital asset treasury (DAT) market has reached a turning point after Strive (ASST) announced an all-stock deal to acquire Semler Scientific (SMLR), marking the first-ever merger of two publicly traded bitcoin treasuries. Industry insiders say this move could trigger a wave of consolidation across the sector as companies look for scale, efficiency, and stronger access to capital markets.

The deal is designed to unify bitcoin holdings, boost bitcoin per share, and simplify governance. Once completed, the merged entity will hold nearly 11,000 BTC, supported by Strive’s simultaneous $675 million purchase of 5,885 coins. For Semler, whose stock traded below the value of its bitcoin, the acquisition highlights how non-core businesses may be overshadowed by treasury strategies. Strive CEO Matt Cole emphasized that the transaction is “accretive in bitcoin per share,” aligning with the company’s growth goals and improving capital market access.

Industry experts suggest three key paths forward for DATs. First, further DAT-to-DAT mergers, similar to the Strive-Semler deal, will consolidate balance sheets and maximize bitcoin per share. Second, acquiring cash-flowing businesses could help treasuries offset dilution and fund ongoing BTC accumulation. Japan’s Metaplanet, the nation’s largest bitcoin holder, has already outlined plans to acquire profitable companies while exploring financing tools such as perpetual preferred stock, a strategy pioneered by MicroStrategy (MSTR).

Finally, industry players are expected to favor direct mergers with established businesses instead of using SPACs, which often bring dilution, redemptions, and regulatory complications. Aligning with legitimate operators provides more stability and investor confidence.

The growing maturity of DATs is also reflected in partnerships like FRNT Financial’s recent consulting deal with a digital asset treasury holding $100 million in bitcoin. As consolidation and diversification accelerate, DATs are set to evolve beyond simple BTC holding companies into more complex, growth-driven enterprises, shaping the next era of digital asset treasury strategies.

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China Asset Management Company (ChinaAMC), one of China’s largest fund managers with over $400 billion in assets under management, has officially entered the tokenization market by launching a blockchain-based money market fund on Ethereum. The new product, called the ChinaAMC USD Digital Money Market Fund Class I USD (CUMIU), is designed to provide stable returns denominated in Hong Kong dollars by investing in short-term deposits and high-quality money market instruments.

Developed through the Libeara tokenization platform, each CUMIU token carries a net asset value of $100 and charges a minimal management fee of just 0.05%, making it one of the most cost-efficient blockchain-based fixed-income products currently available. According to data provider RWA.xyz, the fund has already deployed around $502 million, ranking it as the 11th-largest tokenized fund worldwide. Despite this strong start, it still lags behind major players such as BlackRock’s BUIDL, Ondo’s OUSG, and Franklin Templeton’s BENJI.

Interestingly, only two entities currently hold CUMIU tokens, reflecting ChinaAMC’s limited rollout strategy. Analysts suggest that this cautious distribution approach allows the firm to test blockchain infrastructure and ensure compliance before scaling to a wider audience. The selective participation aligns with the regulatory environment in China, where authorities are treading carefully on real-world asset (RWA) tokenization. Reports recently surfaced that Chinese securities regulators asked brokerages in Hong Kong to halt RWA initiatives until stricter asset verification and risk control measures are in place.

Even with tighter oversight, the launch underscores the growing momentum of tokenized finance. RWA.xyz reports that over $30 billion worth of tokenized assets are now on-chain, representing a 7% increase in the past month. The number of holders has also grown by 9% to more than 406,000, signaling accelerating investor adoption.

ChinaAMC’s entry highlights how tokenization continues to expand globally, even in the face of regulatory caution, cementing blockchain’s role in the future of financial markets.

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Aster (ASTER), the native token powering the decentralized perpetuals exchange launched earlier this September, has faced a sharp correction. In the past 24 hours alone, ASTER slid by 8%, trading at $1.87. This marks a 20% decline from its local high of $2.43 on September 24, fueling debate on whether the project is losing momentum despite its strong start and ties to Binance founder Changpeng Zhao (CZ).

Analysts point to a combination of profit-taking, product concerns, and shifting sentiment as drivers of the sell-off. Investor Mike Ess disclosed on X (Twitter) that he sold 60% of his ASTER holdings in favor of Bitcoin (BTC) and Plasma (XPL), citing doubts about Aster’s platform. Comparing it to rival Hyperliquid’s HYPE token, Ess said Aster “feels slower, less polished, and copy-paste,” adding that larger allocations felt riskier.

Similar views have been echoed by other traders. Prominent analyst Clemente fully exited ASTER, stating Hyperliquid dominates in most performance metrics. This highlights intensifying competition in the perpetual DEX market, where speed, trust, and user experience heavily influence adoption.

CZ’s involvement has also sent mixed signals. While his firm YZi Labs (formerly Binance Labs) holds a stake in Aster, recent comments sounded more cautious, with CZ framing Aster as “complementary” to the broader BNB Chain ecosystem. Some traders interpreted this as distancing, raising concerns about long-term commitment from the Binance founder.

Despite the negative sentiment, Aster’s fundamentals remain impressive. The platform has already generated over $82 million in fees and reached $701 million in total value locked (TVL) on BNB Chain—a strong feat for a project only weeks old. Still, the quick pullback underscores the challenges of maintaining user trust while scaling rapidly.

With rival Hyperliquid pushing ahead, Aster’s future will depend on whether its team can improve product reliability and sustain momentum. For now, opinions remain divided: some see Aster as an overhyped experiment, while others view it as a high-potential DEX with CZ’s stamp of approval.

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Cardano’s native token ADA faces a decisive few years as major upgrades like Project Acropolis, Hydra adoption, and Ouroboros Leios roll out. These milestones may reshape Cardano’s technical narrative, with potential to push ADA closer to the long-awaited $3 mark by 2027. This analysis is based solely on network upgrades and their adoption impact—it excludes external factors like ETFs, regulation, or institutional entry.

Project Acropolis, expected between late 2025 and early 2026, focuses on modular node re-architecture. By improving stability, easing stake pool operations, and enabling faster shipping of features, it reduces execution risk. If successful, ADA could trade between $0.70 and $0.95, with market sentiment hinging on consistent release cadence and operator feedback.

Hydra, Cardano’s layer-2 scaling solution, is set for broader adoption in 2026. Its value lies not in version updates but in integration by leading dApps. If users experience real gains in speed and cost reduction, ADA could move between $0.90 and $1.40. Without clear adoption, however, prices may stagnate under $1.

Ouroboros Leios, targeted for testnet release in mid-to-late 2026, introduces parallelism at the base layer. Strong performance metrics could reposition Cardano as a high-capacity, decentralized chain, supporting ADA in the $1.30–$2.20 range. Weak testnet results or delays would limit gains near $1.20.

Beyond 2027, Cardano’s “Mega” scaling roadmap could compound these advances, lifting ADA to $2–$3.50—provided upgrades deliver visible user benefits and security holds. Each step builds on the previous: Acropolis enables faster releases, Hydra drives adoption, and Leios strengthens scalability.

Ultimately, execution—not promises—will determine whether ADA breaks its multi-year ceiling. Consistent delivery, live dApp adoption, and transparent governance are the key signals investors should watch.

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The Japanese kimono and textiles maker Marusho Hotta is set to confirm it will change its name to Bitcoin Japan.

The optional midpoint check-in took place last week.

NEW YORK, Sept. 28, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of National Grid plc (NYSE: NGG) resulting from allegations that National Grid plc may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased National Grid securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=41344 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On July 2, 2025, Reuters published an article entitled “‘Preventable’ National Grid failures led to Heathrow fire, findings say.” The article stated that a “fire that shut London’s Heathrow airport in March, stranding thousands of people, was caused by the UK power grid’s failure to maintain an electricity substation, an official report said on Wednesday, prompting the energy watchdog to open a probe.” Further, the article stated that the United Kingdom’s Energy minister, Ed Miliband, had “called the report “deeply concerning”, after it concluded that the issue which caused the fire was identified seven years ago but went unaddressed by power grid operator National Grid[.]”

On this news, National Grid’s American Depositary Shares (“ADSs”) fell 5%, on July 2, 2024.

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

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

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

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Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
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        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
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        www.rosenlegal.com

Findings from the first prospective validation trial for biomarker presented at ASTRO 2025

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Veracyte, Inc. (Nasdaq: VCYT), a leading genomic diagnostics company, announced that new data from the prospective, randomized integral biomarker BALANCE trial (NCT03371719) finds that the PAM50 molecular signature predicts which patients with recurrent prostate cancer benefit from hormone therapy with apalutamide in addition to salvage radiation therapy. The prostate PAM50 biomarker is currently available for Research Use Only on the Decipher GRID (Genomic Resource for Intelligent Discovery) research tool.

This is an unprecedented advancement for patients who can be more-precisely selected to receive hormone therapy or forego the treatment and the potential side effects.

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The new findings were shared today by Daniel Spratt, M.D., University Hospitals Seidman Cancer Center, Case Western Reserve University, in a podium presentation at ASTRO 2025, the annual meeting of the American Society for Radiation Oncology, being held in San Francisco.

“Our findings mark the first time, to my knowledge, that a predictive biomarker has been validated in a prospective, biomarker-driven, randomized trial in non-metastatic prostate cancer,” said Dr. Spratt. “Thus, this is an unprecedented advancement for patients who can be more-precisely selected to receive hormone therapy or forego the treatment and the potential side effects.”

For the study, 295 men with recurrent, non-metastatic prostate cancer following prostate-removal surgery were randomly assigned to salvage radiation therapy with a placebo or apalutamide for 6 months. The PAM50 biomarker was a key stratification variable to ensure each arm had a similar proportion of luminal B and non-luminal B subtypes. They were followed for a median of 5 years during which they were evaluated for biochemical failure, which is a rise in levels of prostate-specific antigen (PSA) post treatment—an early sign of salvage therapy failure. Among the 127 men with luminal B molecular subtype tumors (as determined by the PAM50 signature), 72% of those taking apalutamide did not experience biochemical failure, as compared to the 54% rate in the placebo group [HR 0.45 (80% CI 0.29-0.68), p=0.0062]. In the non-luminal B subset, there was no difference between those taking apalutamide versus placebo (70% vs 71%) [HR 0.95 (80% CI 0.65-1.41), p=0.44].

“These results from NRG GU006 represent the highest level of evidence to support routine biomarker testing in recurrent prostate cancer patients planned to receive secondary radiotherapy,” Dr. Spratt added. “With such a strong difference in the metastasis-free survival response to hormone therapy between luminal B and non-luminal-B tumors, the use of the predictive PAM50 biomarker is a game changer to help personalize treatment for men with recurrent prostate cancer beyond merely prognostic tools.”

The PAM50 signature is the third biomarker—assessed through the whole-transcriptome-based Decipher platform—that a major study has shown predicts benefit from hormone therapy, radiation therapy or chemotherapy. Another trial—PREDICT-RT—recently completed enrollment two years early and is evaluating the Decipher Prostate test’s ability to predict benefit of combined hormone therapy (ADT and apalutamide) concurrent with radiation in patients with high-risk prostate cancer at initial diagnosis.

“Prostate cancer, like all cancers, is a disease of the genome,” said Elai Davicioni, Ph.D., Veracyte’s medical director for Urology. “Our Decipher GRID tool uniquely enables researchers to better pinpoint adverse molecular features that are associated with poor outcomes. This can ultimately lead to more-personalized care for each patient based on their tumor’s unique molecular make-up. We are proud to partner with the world’s leading prostate cancer researchers to help uncover insights that can change the trajectory of care for each individual patient and also help deliver the next generation of prostate cancer diagnostics.”

The BALANCE trial results are among 9 Decipher-focused abstracts being presented at the ASTRO 2025 conference. More information can be found here.

About Decipher Prostate

The Decipher Prostate Genomic Classifier is a 22-gene test, developed using RNA whole-transcriptome analysis and machine learning, that helps inform treatment decisions for patients across the full spectrum of prostate cancer. The test is performed on biopsy or surgically resected samples and conveys the aggressiveness of the cancer. For patients with localized or regional prostate cancer, the Decipher score indicates a patient's risk of metastasis, helping to determine treatment timing and intensity. For patients with metastatic prostate cancer, the Decipher score indicates the likelihood of cancer progression and survival benefit with treatment intensification. Armed with this information, physicians can better personalize their patients’ care. The Decipher Prostate test's performance and clinical utility has been demonstrated in over 90 studies involving more than 200,000 patients. It is the only gene expression test to achieve “Level I” evidence status and inclusion in the risk-stratification table in the most recent NCCN® Guidelines* for prostate cancer. More information about the Decipher Prostate test can be found here.

About Veracyte

Veracyte (Nasdaq: VCYT) is a global diagnostics company whose vision is to transform cancer care for patients all over the world. We empower clinicians with the high-value insights they need to guide and assure patients at pivotal moments in the race to diagnose and treat cancer. Our Veracyte Diagnostics Platform delivers high-performing cancer tests that are fueled by broad genomic and clinical data, deep bioinformatic and AI capabilities, and a powerful evidence-generation engine, which ultimately drives durable reimbursement and guideline inclusion for our tests, along with new insights to support continued innovation and pipeline development. For more information, please visit www.veracyte.com or follow us on LinkedIn or X (Twitter).

About Decipher GRID

The Decipher GRID database includes more than 250,000 whole-transcriptome profiles from patients with urologic cancers and is used by Veracyte and its partners to contribute to continued research and help advance understanding of prostate and other urologic cancers. GRID-derived information is available on a Research Use Only basis. More information about Decipher GRID can be found here.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including, but not limited to our statements regarding the use of the predictive PAM50 biomarker to help personalize treatment for men with recurrent prostate cancer beyond merely prognostic tools and the belief that this is a game changer, and expectations that our Decipher GRID tool uniquely enables researchers to better pinpoint adverse molecular features that are associated with poor outcomes; that this can ultimately lead to more-personalized care for each patient based on their tumor’s unique molecular make-up; and that this can help uncover insights that can change the trajectory of care for each individual patient and also help deliver the next generation of prostate cancer diagnostics. Forward-looking statements can be identified by words such as: “appears,” “anticipate,” “intend,” “plan,” “expect,” “believe,” “should,” “may,” “will,” “enable,” “positioned,” “offers,” “designed,” "ultimately," and similar references to future periods. Actual results may differ materially from those projected or suggested in any forward-looking statements. These statements involve risks and uncertainties, which could cause actual results to differ materially from our predictions, and include, but are not limited to the potential impact the Veracyte Diagnostics Platform can have on scientific advancements in cancer and, in turn, patient care. Additional factors that may impact these forward-looking statements can be found under the caption “Risk Factors” in our Annual Report on Form 10-K filed on February 28, 2025. Copies of these documents, when available, may be found in the Investors section of our website at https://investor.veracyte.com. These forward-looking statements speak only as of the date hereof and, except as required by law, we specifically disclaim any obligation to update these forward-looking statements or reasons why actual results might differ, whether as a result of new information, future events or otherwise.

Veracyte, the Veracyte logo, and Decipher are registered trademarks of Veracyte, Inc., and its subsidiaries in the U.S. and selected countries.

* National Comprehensive Cancer Network. 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.

More News From Veracyte, Inc.

NEW YORK, Sept. 28, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action lawsuit on behalf of purchasers and acquirers of Fortinet, Inc. (NASDAQ: FTNT) common stock between November 8, 2024 and August 6, 2025, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 21, 2025.

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

WHAT TO DO NEXT: To join the Fortinet class action, go to https://rosenlegal.com/submit-form/?case_id=45210 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 21, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and misleading statements concerning the business impact and sustainability of a purportedly “record” round of FortiGate unit upgrades. Defendants represented that this “refresh cycle” was “by far the largest we’ve seen probably ever,” would generate “around $400 million to $450 million in product revenue” in 2025 and 2026, and would create strong opportunities to cross-sell additional products and services. Defendants also represented that the refresh cycle would “gain momentum” in the second half of 2025 and beyond.

The lawsuit alleges these statements were materially false and misleading. In truth, defendants knew that the refresh cycle would never be as lucrative as they represented because it consisted of old products that were a “small percentage” of the Company’s business. Moreover, defendants misrepresented and concealed that they did not have a clear picture of the true number of FortiGate firewalls that could be upgraded. And while telling investors that the refresh would gain momentum over the course of two years, Fortinet misrepresented and concealed that it had aggressively pushed through roughly half of the refresh in a period of just a few months, by the end of 2Q 2025. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Fortinet class action, go to https://rosenlegal.com/submit-form/?case_id=45210 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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

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

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

Contact Information:

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