Ethena oznámila partnerství s FalconX, v jehož rámci se stane jeho institucionálním úvěrovým partnerem a bude prostřednictvím kolateralizace investovat do půjček krytých stablecoiny.
USDe issuer Ethena announced it has partnered with digital asset prime broker FalconX to become its institutional lending partner. As part of FalconX Global’s institutional lending allocation, Ethena will invest in its stablecoin lending facilities via overcollateralization. The collaboration enables FalconX to expand its balance sheet, while Ethena benefits from FalconX’s expertise in lending and secured loans, securing more favorable risk-adjusted terms than alternative channels.
Relevant content
Stablecoin issuer Tether has completed its largest-ever full financial audit, with KPMG issuing an unqualified opinion, showing reserves exceeding liabilities by $6.814 billion.
USDT issuer Tether announced it has completed a full independent audit of its 2025 fiscal year financial statements by KPMG U.S., receiving an unqualified audit opinion—the most positive outcome an independent auditor can issue. Dubbed "the largest first-time financial audit in history", the engagement saw KPMG conduct comprehensive substantive testing on Tether’s balance sheet, reserve asset composition, outstanding token liabilities, income statement, changes in equity, and cash flow statement. Critically, instead of relying solely on custodian reports, KPMG physically counted every gold bar held by Tether to verify their existence and identifying details. The audit confirmed Tether’s reserves exceeded its liabilities by $6.814 billion as of December 31, 2025. Tether CEO Paolo Ardoino stated: "Critics have for years claimed Tether could not complete an audit, and we have once again proven them wrong. An unqualified opinion means Tether has secured a clean audit." CFO Simon McWilliams called the milestone "a landmark in Tether’s commitment to transparency", noting the firm has wrapped up a historic project with the Big Four accounting firms and will continue to elevate standards moving forward. Tether has long published independent reserve attestation reports; this full financial statement audit marks a jump in its financial reporting regime from the attestation level to the full audit tier.
39 minutes ago
Over $1.4 billion worth of crypto options are set to expire today, with Bitcoin’s max pain point at $64,000.
BTC and ETH options are set to expire this Friday, with open interest concentrated around several key strike prices. BTC’s nominal open interest stands at roughly $1.28 billion, with its max pain point at $64,000. The highest concentration of call options is at $68,000, followed by $70,000 to $72,000. ETH’s nominal open interest is approximately $161 million, with its max pain point at $1,900. The highest concentration of call options is at $1,950 and $2,000. BTC’s put/call open interest ratio is 0.85, while ETH’s is 0.94.
39 minutes ago
Bitwise Chief Investment Officer (CIO): DeFi’s market size and pricing power are both underestimated, and projects like Hyperliquid have far greater potential than imagined.
Bitwise Chief Investment Officer Matt Hougan stated that people evaluating current decentralized finance (DeFi) applications are making two overlapping mistakes: regarding market size, they believe they are targeting the $2 trillion cryptocurrency market, but in reality, they are targeting the $500 trillion asset market; regarding value capture, they think they have maximized fee revenue, but have only scratched the surface. Projects such as Hyperliquid, Uniswap, Aave, Morpho, Aerodrome, Lighter, Pump and others have a larger TAM (total addressable market) and stronger pricing power than commonly perceived.
39 minutes ago
75% of stocks in the S&P 500 tech sector have returned above their 200-day moving average, with historical averages indicating a potential gain of up to 33.4% over the next year.
Last week, 75% of stocks in the S&P 500 Tech sector closed above their 200-day moving average (DMA), marking the first time this threshold has been hit since October 2024, ending a 219-trading-day stretch of prolonged weakness. This is the 9th-longest downturn on record, with the longest such stretch in history lasting 759 trading days, ending after the dot-com bubble burst on April 22, 2003. Historical data shows that after the end of such prolonged downturns, the tech sector posts an average gain of 2.5% in the following month, 7.3% in three months, 15.5% in six months, and a whopping 33.4% in 12 months. Meanwhile, 69% of stocks in the Nasdaq 100 index are now above their 200-day moving average, near the highest level since July 2025. This notable improvement in the breadth indicator signals that the tech stock rally is expanding beyond a handful of heavyweight stocks to the broader sector, as market momentum builds. The tech sector had previously faced multiple headwinds including memory chip sell-offs, deleveraging of leveraged ETFs, and concerns over AI capital expenditures; this technical repair provides positive support for future market performance.
39 minutes ago
Bitcoin falls below $63,000, with a 1.03% drop in the past 24 hours.
According to HTX market data, Bitcoin has dropped below $63,000, with a 24-hour decline of 1.03%.
39 minutes ago
CFTC releases agenda for first meeting of its Innovation Advisory Committee, focusing on regulation of crypto assets, AI, and prediction markets.
U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig has released the agenda for the inaugural meeting of the Innovation Advisory Committee (IAC). The meeting is scheduled to be held in Washington on Thursday, August 20, and will focus on topics including crypto asset regulation, artificial intelligence, and prediction markets. Selig said: "The United States has long been a global hub for financial innovation. I look forward to meeting with entrepreneurs, thinkers, and builders of the CFTC Innovation Advisory Committee to explore how emerging technologies and financial products can shape our markets in the new financial frontier." The public may submit relevant comments by August 27, and all received submissions will be published publicly. The meeting agenda may be adjusted based on other priorities of the IAC; the full agenda is available on the CFTC’s official website. The CFTC also emphasized that the views and opinions expressed by the advisory committee represent only the committee itself and do not reflect the positions of the CFTC, its staff, or the U.S. government.
SanDisk na Dni investorů zveřejnil dlouhodobý model s cílem růstu tržeb v polovině až vyšších desítkách procent a marží kolem 80 %, což zvedlo i Micron, Western Digital a SK hynix.
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Memory and storage stocks opened roughly flat Thursday and then rallied sharply through the morning session, making the group the standout trade of the day. At midday, SanDisk (NASDAQ:SNDK | SNDK Price Prediction) was up about 15%, Western Digital (NASDAQ:WDC) up about 10%, SK hynix (NASDAQ:SKHY) up about 8%, and Micron Technology (NASDAQ:MU) up about 6%.
The move is a sharp reclaim after a rough stretch. SanDisk entered the session down roughly 19.7% over the past month, and Western Digital was down roughly 18.3% over the past month and about 12.5% over the past week. Today the group is reclaiming that ground.
SanDisk Investor Day Reprices the Whole Group
The catalyst is SanDisk’s 2026 Investor Day, “Sandisk In Focus,” and the long-term financial model released alongside it. For fiscal 2028 through fiscal 2030, management is targeting mid-to-high teens revenue growth, non-GAAP gross margins sustained at approximately 80%, non-GAAP operating margins of roughly 75%, and an adjusted free cash flow margin of about 50%. The company also plans to return 100% of excess cash to shareholders after investing in the business.
An 80% gross margin sustained through fiscal 2030 is an extraordinary claim in NAND, an industry historically defined by brutal cyclicality. That is why one company’s investor day is lifting Micron, Western Digital, and SK hynix in sympathy. Investors are being asked to accept that memory economics have structurally changed.
The Mechanism: New Business Model Agreements
Management is anchoring the durability claim on its New Business Model agreements, built on committed volumes, enforceable contractual frameworks with minimum financial guarantees, and structured pricing mechanisms. SanDisk has signed NBMs with eight customers, representing approximately 50% of bits in FY2027 and about two-thirds of bits in FY2028.
CFO Luis Visoso framed the pitch: “We are optimizing for growth, sustainability and returns. As we do that, we expect to return 100 percent of excess cash to our shareholders after investing in the business.” CEO David Goeckeler added, “Our strong performance today is the direct result of disciplined execution against the strategy we outlined 18 months ago.” Management also flagged that the enterprise data center flash total addressable market is growing to 1.2 zettabytes by 2030, driven by AI inference workloads and KV cache reshaping the memory hierarchy.
Read-Across to Peers
Western Digital is the natural comparable after being separated from SanDisk, so a bullish long-term NAND margin framework reads directly across. Micron spans DRAM and NAND and is the primary US-listed way to play a broad memory cycle view. SK hynix is a critical HBM supplier for AI accelerators, though investors should note it is an ADS whose primary listing is the Korea Exchange, reporting in Korean Won under K-IFRS.
Today’s Move vs. Year to Date
Stock
Today
Year to Date
SanDisk (SNDK)
+15%
+466.3%
Western Digital (WDC)
+10%
+163.8%
SK hynix (SKHY)
+8%
n/a (short US listing)
Micron (MU)
+6%
+219.5%
All names are up big year-to-date, but just went through a whipsaw July that saw many memory stocks draw down dramatically. SanDisk’s margin commentary on its earnings call lead to a broad sell-off across the sapce, but today’s long-term view provides conviction that margins will stay elevated for longer than investors expected.
Risks Vs. Opportunities After Today’s Jump
An 80% gross margin held through fiscal 2030 remains a forecast rather than an achieved result restated: it is only a target. NAND has repeatedly punished investors who assumed the cycle was over. These are forward-looking non-GAAP targets without a full GAAP reconciliation available. And several of these names carry enormous year-to-date gains already, with SanDisk up 466.3% on the year.
Still, it’s worth noting that Wall Street expects normalized earnings of $213.23, $265.12, and $214.10 from SanDisk across the next three years. After today’s financial model was released, I would expect that today number ($214.10) to rise. So, from a forward perspective, SanDisk’s valuation isn’t outrageous as they’ll likely return about half their current value to shareholders across the coming three years.
Contact [email protected] for any questions or corrections.
Estée Lauder čeká za 4. fiskální čtvrtletí fiskálního roku 2026 tržby 3,55 miliardy USD, tedy růst o 4,1 %, a EPS 32 centů. Výsledky mohou podpořit parfémy a lepší maloobchodní trendy, ale marže mohou brzdit tarify, inflace a náklady.
Key Takeaways EL's Q4 revenues are projected to rise 4.1% to $3.55 billion, with EPS seen at 32 cents.Fragrance momentum, innovation and improving retail trends are expected to support EL's sales.Middle East disruptions, tariffs, inflation and incentive costs may weigh on EL's profitability. The Estee Lauder Companies Inc. (EL - Free Report) is likely to register growth in both top and bottom lines when it reports fourth-quarter fiscal 2026 earnings on Aug. 19, 2026. The Zacks Consensus Estimate for fiscal fourth-quarter revenues stands at $3.55 billion, indicating 4.1% growth from the same period last year.
The consensus mark for earnings has increased a penny in the past seven days to 32 cents per share, which implies an increase from the 9 cents reported in the year-ago quarter. Estee Lauder delivered a trailing four-quarter average earnings surprise of 39.1%.
Things to Consider About Estee Lauder’s Upcoming ResultsThe Estee Lauder Companies’ fiscal fourth-quarter results are likely to benefit from continued momentum in fragrance, strength in key international markets and improving retail trends. The company has been gaining prestige beauty share in Mainland China, Japan, Korea and the United States, while priority emerging markets have been delivering strong growth. These trends, alongside expanded consumer reach, successful brand activations and innovation, are likely to have supported sales during the quarter.
On a category basis, fragrance has remained a key growth engine and is likely to have maintained its momentum, supported by luxury brands, product innovation and broader distribution. Makeup trends have been improving, with its rate of decline moderating and several brands gaining share in key markets. Recent launches across La Mer, M·A·C, TOM FORD, KILIAN PARIS and BALMAIN Beauty are likely to have supported category performance in the fiscal fourth quarter.
Omnichannel expansion and digital capabilities are likely to have provided additional support. The company has expanded its presence on Amazon and TikTok Shop, strengthened specialty-multi distribution through M·A·C’s Sephora launch and advanced its Shopify-powered direct-to-consumer infrastructure. Continued online growth, together with progress in CRM, consumer care and technology infrastructure, indicates that broader digital reach and more connected consumer engagement are supporting the business.
However, macroeconomic and operating pressures might have limited the upside. Business disruptions related to the Middle East conflict are expected to reduce fourth-quarter sales growth about 2 percentage points and EPS by 6 cents. Tariffs, inflation and a greater year-over-year impact from normalized employee incentive costs also remained profitability headwinds, although PRGP savings, lower excess and obsolescence and other operational-efficiency initiatives have been helping mitigate some of these pressures.
Earnings Whispers for EL StockOur proven model conclusively predicts an earnings beat for Estee Lauder this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here.
Estee Lauder carries a Zacks Rank #3 and has an Earnings ESP of +6.32%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
More Stocks With the Favorable CombinationHere are a few other companies worth considering, as our model shows that these, too, have the right combination of elements to beat on earnings this reporting cycle.
BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) currently has an Earnings ESP of +0.39% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for BJ's Wholesale Club’s upcoming quarter’s EPS is pegged at $1.16, which implies 1.8% growth year over year. The consensus estimate for the quarterly revenues is pinned at $5.89 billion, which indicates 9.5% growth from the figure reported in the prior-year quarter. BJ delivered a trailing four-quarter earnings surprise of 4.5%, on average.
General Mills, Inc. (GIS - Free Report) currently has an Earnings ESP of +0.54% and a Zacks Rank of 3. The consensus mark for the upcoming quarter’s revenues is pegged at $4.31 billion, which indicates a decrease of 4.5% from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for General Mills’ quarterly earnings per share of 73 cents implies a decline of 15.1% from the figure reported in the year-ago quarter. GIS delivered a trailing four-quarter earnings surprise of 4.1%, on average.
Ulta Beauty, Inc. (ULTA - Free Report) currently has an Earnings ESP of +1.20% and a Zacks Rank of 3. The consensus estimate for the quarterly revenues is pegged at $2.97 billion, which indicates a surge of 6.5% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Ulta Beauty’s upcoming quarter’s EPS is pegged at $6.17, which implies a 6.8% increase year over year. ULTA delivered a trailing four-quarter earnings surprise of roughly 10%, on average.
Fastenal za poslední měsíc přidal asi 15,1 % a překonal index S&P 500. Ve 2. čtvrtletí zisk na akcii činil 33 centů a odpovídal odhadům, zatímco tržby vzrostly o 14,7 % na 2,39 miliardy USD.
A month has gone by since the last earnings report for Fastenal (FAST - Free Report) . Shares have added about 15.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Fastenal due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.
Fastenal Q2 Earnings Meet Estimates, Sales Beat on Favorable PricingFastenal reported mixed second-quarter 2026 results, with earnings meeting the Zacks Consensus Estimate and net sales beating the same. Conversely, year over year, both metrics grew notably. Fastenal continued to benefit from customer signings secured since the first quarter of 2024. Contract customer daily sales increased 17.6% year over year and represented 75.8% of quarterly revenues, up from 73.2% a year earlier.
Fastenal’s Q2 Earnings & Sales in DetailFastenal’s quarterly earnings of 33 cents per share were in line with the Zacks Consensus Estimate, but increased 15.9% year over year from 29 cents per share.
Net sales rose 14.7% year over year to $2.39 billion and surpassed the consensus mark of $2.34 billion by 1.9%. Growth reflected stronger customer contract signings, pricing actions and improved industrial production. Daily sales also advanced 14.7%.
FAST’s Daily Sales Growth TrendsManufacturing daily sales increased 14.9%, with the segment contributing 75.9% of total sales. Heavy Manufacturing led the improvement with 18.1% growth and represented 44.1% of revenues. Other Manufacturing sales rose 10.8%.
Non-residential Construction daily sales advanced 17%, marking continued growth in the market. Other End-Market sales increased 14.1%, aided by transportation and warehousing customers. Total non-manufacturing daily sales climbed 15.1%.
Direct-Material daily sales grew 16.5% and accounted for 39.2% of revenues. Direct Fasteners and Hardware increased 16.8%, while direct cutting tools and abrasives rose 14.8%. Direct Non-Fasteners and Hardware sales improved 16.7%. Indirect-Material daily sales increased 14.1% and represented 60.8% of revenues. Indirect Fastener sales rose 14.6%, safety products increased 13.1%, and other indirect product lines advanced 14.6%. Direct materials slightly outpaced indirect products due to stronger fastener demand and manufacturing activity.
Fastenal’s Digital Sales Outpace Company GrowthDigital Footprint sales increased 16.2% to $1.49 billion and represented 61.6% of revenues, up from 61% in the prior-year quarter. The metric combines sales through Fastenal Managed Inventory technology with eBusiness sales that do not overlap with those services. FMI sales rose 16.4% to $1.08 billion and accounted for 44.6% of revenues. FAST signed 6,993 weighted FASTBin and FASTVend devices, up 8.3%, while the installed base grew 6.5% to 140,789 units. eBusiness sales increased 12.6% to $711.9 million.
FAST Holds Operating Margin Despite PressureGross margin contracted 75 basis points (bps) to 44.6%. Unfavorable net price-cost reduced the margin by about 40 bps, while customer mix, transportation costs and rebate activity created additional pressure. Larger customers generally carry lower gross margins but produce greater profit dollars and operating efficiencies.
Selling, general and administrative expenses improved 80 bps to 23.5% of sales. Labor productivity and fixed-cost leverage offset higher incentive compensation, transportation and travel expenses. As a result, operating margin remained unchanged at 21%, while operating income increased 15.1% to $501.8 million.
Fastenal Generates Solid Cash and Returns CapitalNet income increased year over year by 15.9% to $382.8 million. Operating cash flow totaled $265.7 million, down 4.6%, and represented 69.4% of net income. Accounts receivable increased 17.6%, while inventories edged up 0.5% and accounts payable rose 25.2%. The company returned $305.1 million to shareholders through $275.4 million in dividends and $29.7 million in share repurchases. Total debt declined to $120 million from $230 million a year ago.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.
VGM ScoresAt this time, Fastenal has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. Following the exact same course, the stock was allocated a score of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Fastenal has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Ondo Finance je největším emitentem tokenizovaných akciových cenných papírů na světě s tržní kapitalizací 957,4 mil. USD. Trh tokenizovaných akciových cenných papírů za poslední rok vzrostl o 3 275 % na rekordních 2,7 mld. USD.
Ondo Finance Leads a Fast-Growing FieldOndo Finance has cemented its position as the largest issuer of tokenized equity securities in the world, with a market capitalization of $957.4M. The platform sits well clear of a competitive field that includes @Binance bStocks at $622.6M, @xStocksFi at $605.5M, @Securitize at $203.4M, and Real Fi at $149.9M.
, and That scale reflects both early-mover advantage and a deliberate push into regulatory compliance. , clearing obstacles that have historically stalled rivals.
A Sector Rewriting the NumbersThe broader tokenized equity market has grown at a pace that is difficult to ignore. Capital in the space has risen 3,275% over the past year, climbing from roughly $80M to a new record of $2.7B. That trajectory is part of a wider shift in how financial assets are being structured and distributed.
Separate data from RWA.xyz cited by Bitget's H1 research shows
Ondo has also moved to deepen the utility of its products.
The competitive landscape is filling in quickly, but the gap at the top remains significant. As capital continues to flow into on-chain equities, Ondo's regulatory track record and product depth give it a structural advantage that newer entrants will find hard to close quickly.
Sources:
Crypto Briefing: Ondo Finance leads tokenized stock market
CoinDesk: Ondo Finance adds proxy voting for tokenized equities
Capitaxer: Tokenized equities surge 140% in 2026, DeFiLlama research
Saturn Credit se spojil s Ondo a začlení tokenizované akcie STRCON do svého on-chain úvěrového systému. Saturn tak získá přístup k více než 957 milionům USD v tokenizovaných tradičních aktivech jako zástavě.
Saturn Credit Taps Ondo's Tokenized Asset Base@Saturn_Credit has partnered with @Ondo to bring institutional-quality tokenized stocks into its on-chain credit infrastructure. The integration begins with STRCON, which will be incorporated into the $sUSDAT yield-bearing stablecoin, giving Saturn access to more than $957 million in Ondo's tokenized traditional assets as collateral for on-chain credit products.
The move positions Saturn to build credit instruments directly backed by real-world productivity rather than purely crypto-native collateral, a meaningful structural shift for decentralized lending. The $sUSDAT stablecoin acts as the bridge, absorbing yield from Ondo's tokenized asset base and passing it through to Saturn's credit stack.
A Wider Market for Non-US InvestorsOne of the clearest use cases here is geographic access. Saturn's integration builds on that by directing the yield generated from those assets into on-chain credit products available to non-US and non-EEA users, people who have historically faced significant barriers to US equity and fixed-income exposure.
Saturn's credit layer adds another dimension, allowing that exposure to underpin yield-generating credit products rather than simple token holdings.
Ondo's tokenized asset ecosystem has expanded rapidly. The Saturn partnership draws on that scale, using Ondo's institutional backing as the foundation for a new class of on-chain credit.
The partnership reflects a broader trend of DeFi protocols moving away from crypto-only collateral models and toward real-world assets as the basis for lending and credit. With Ondo's regulatory standing reinforced after , the infrastructure underpinning this integration carries a cleaner compliance profile than many earlier RWA experiments.
Sources:
Ondo Finance: Ondo Stocks
CoinDesk: Ondo Finance debuts SEC-aligned tokenized stock model
Crypto Briefing: Ondo Finance enables native swaps for 260+ tokenized stocks
Binance s bStocks přeskočil Kraken v tokenizovaných akciích a drží druhé místo s asi 610,6 milionu USD oproti 601,2 milionu USD. Vede stále Ondo Finance.
Binance has just taken second place in the tokenized stocks market by value. Launched on June 11, bStocks shows about 610.6 million dollars, compared to 601.2 million for Kraken’s xStocks. It took less than two months to reverse the ranking. Ondo Finance remains ahead of the two platforms.
In brief
Binance bStocks surpasses Kraken’s xStocks with about 610.6 million dollars in value.
The tokenized stocks market tracked by Token Terminal reaches about 2.7 billion dollars.
Ondo Finance still maintains first place for now.
Binance overtakes Kraken in less than two months
Binance’s return to tokenized stocks was expected since the beginning of the year. The platform was already preparing its comeback in this market five years after its first attempt. This time, the start is quick.
On August 3, bStocks had reached about 624 million dollars in value, compared to 579 million for xStocks. Ondo Finance was still far ahead with about 927 million. On Tuesday, the gap between Binance and Kraken had narrowed: 610.6 million for bStocks and 601.2 million for xStocks.
Second place is thus held by less than 10 million dollars. Nothing insurmountable for Kraken.
The speed remains. Binance launched bStocks on June 11 to provide access to US stocks via blockchain tokens. The user obtains exposure to the stock without directly owning the underlying share. Changpeng Zhao notably attributes the product’s growth to Binance’s large user base.
The platform indeed has a clear advantage. Indeed, it does not need to build its audience from scratch. Each new product can be offered to a mass of traders already present in its ecosystem. For Kraken, the competition is therefore becoming more serious than just a few weeks ago.
Tokenized stocks are growing very fast
The battle between Binance and Kraken takes place in a market that has completely changed in size.
A year ago, xStocks dominated with only 40.7 million dollars. Robinhood followed with 37.2 million. Ondo then represented about 65,000 dollars according to the data. Today, the total value tracked by Token Terminal is around 2.7 billion dollars, compared to about 80 million a year earlier.
Transfers are also accelerating. In July, tokenized stocks had already recorded 8.41 billion dollars in monthly transfers, a 105% increase over thirty days. The distributed value of the sector then reached 2.16 billion dollars. This better explains why exchanges are rushing in.
A tokenized stock notably allows buying fractions of shares and transferring them on the blockchain. Depending on the product structure, it may also circulate outside traditional stock exchange hours. However, buying the token does not automatically mean becoming a shareholder of the company concerned.
This is a fairly important nuance. Rights to dividends, voting, or reimbursement may vary depending on the issuer and the legal structure chosen. The current success thus depends as much on distribution as on technology. Binance has precisely just shown what a huge user base can bring.
Ondo still remains ahead of Binance
The first place hasn’t changed. Ondo Finance maintains a comfortable lead and remains the main player tracked by Token Terminal.
Binance has therefore not yet taken control of the market. And Kraken lost its second place by only a few million dollars. The ranking can still change quickly.
There is still an amusing contrast. In 2021, Binance had abandoned its first tokenized stocks after a few months amid regulatory pressures in Europe. Five years later, the exchange returns and is already second.
The sector itself has little to do with what it was in 2021. Crypto exchanges, fintechs, and several financial institutions are now working on tradable securities on blockchain. Even traditional stock exchange infrastructures are experimenting with tokenization.
CZ is pushing this idea much further. He recently called on states to directly tokenize their stock markets to broaden access for international investors. For Binance, bStocks already offers a first glimpse of this ambition. Two months were enough to surpass Kraken. Now remains Ondo, with a few hundred million dollars in advance. The next battle is all set.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
CuriosityStream po výsledcích za 2. čtvrtletí vyskočil o více než 50 %, protože rostou licenční tržby z obsahu pro AI modely. Licenční tržby tvořily přes 60 % kvartálních tržeb a meziročně vzrostly o 48 %.
CuriosityStream (CURI +37.14%) stock rocketed over 50% after releasing its second-quarter earnings last night. There were good reasons for the massive move, too. Shares of the company aren't soaring because of its on-demand streaming service. Rather, it is due to the company's move to monetize its content to builders of artificial intelligence (AI) large language models.
The stock settled some, but let's look at why shares were still up 37.5% as of 11:51 a.m. ET.
Image source: Getty Images.
Licensing revenue lifts margins
Management has been pivoting its business model from subscription service revenue to higher margin licensing revenue. Licensing accounted for over 60% of Q2 revenue and rose 48% year over year. That's the crux of the investment case for CuriosityStream. Management is being creative about it, too.
CuriosityStream now offers 17 ready-made video data set products, providing potential customers with easier paths to meet specific needs. Customers can more easily analyze, navigate, and use its well-organized video collections.
It's not just AI models, either. The company is licensing its factual video content to global media companies for broadcast and continues to manage its subscription service to maintain a steady revenue stream.
Today's Change
(
37.14
%) $
1.04
Current Price
$
3.84
The strategy is paying off. Gross margin soared to 73% from 56% in Q1 and 53% in the prior year quarter. Management plans to continue to grow its high-value revenue, aiming to reach $100 million in annualized sales. Reaching that level while maintaining the profit margin achieved in Q2 would make the stock a buy, even after today's jump.
Howard Smith has positions in CuriosityStream. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Paysafe v 2. čtvrtletí zvýšil počet aktivních uživatelů digitálních peněženek o 8 % na 7,8 milionu, ale objem transakcí v peněženkách zůstal zhruba beze změny. iGaming zrychlil na konci čtvrtletí a v červnu i červenci rostl o více než 25 %, respektive 30 % meziročně.
Paysafe added wallet users even as overall wallet volume held flat.
Merchant volume rose 5%, but the SMB business was flat.
Paysafe’s iGaming processing accelerated in June and July.
Paysafe added more consumers to its digital wallets in the second quarter, but those additional users did not lift overall wallet volume.
According to a second-quarter earnings presentation Thursday (Aug. 13), three-month active consumers increased 8% from a year earlier to 7.8 million, the fifth consecutive quarter of growth. Digital Wallets volume, however, remained roughly flat at $6.6 billion. Transactions per active user were unchanged, while average revenue per active user declined 5%.
The mix of those consumers is changing. Paysafe’s materials and commentary from the Thursday earnings call noted that wallet growth was led by Latin America and Paysafe Wallet in Europe, offset partly by declines elsewhere and tougher comparisons in sweepstakes and cryptocurrency trading. Paysafe Wallet acquisitions rose 11% in the quarter, and the product is now available in 19 European countries after its launch in Poland.
“We continue to see double-digit user growth in Latin America,” CEO Bruce Lowthers said during the call with analysts.
The company also reported double-digit consumer acquisition growth from additional marketing in priority European markets.
Elsewhere, Merchant Solutions volume increased 5% to $37.3 billion, and revenue rose 6% to $246.1 million. North American iGaming grew 17%, while the small- to medium-sized business (SMB) business was flat.
During the analyst Q&A, Lowthers broke down what was happening inside the SMB business.
“You saw on the SMB side a slight improvement in attrition, you see a little bit of a slowdown in the existing customer same-store sales category, and then you’re still seeing strong growth in the new sales and MPI initiatives,” Lowthers said.
Clover was one of the stronger pieces of the SMB portfolio. Lowthers said Paysafe’s Clover revenue was up double digits and the company is not seeing pricing pressure. Value-added services are contributing additional growth, singling out lending as performing particularly well.
Acceleration in iGaming Paysafe reported 17% iGaming growth for Merchant Solutions during the quarter, and processing volumes accelerated as the quarter ended, rising more than 25% year over year in June and more than 30% in July. Consumer trends also remained strong entering the third quarter, with three-month active users growing at a double-digit rate in July.
Chief Financial Officer John Crawford specifically cited higher iGaming growth, continued Latin American strength and double-digit active user growth as supporting the company’s second-half outlook.
Companywide revenue increased 4% to $447.4 million. The first half was up 7% reported and 6% organically, with the second quarter also including $12.5 million from additional data licensing deals.
Paysafe expects second-half revenue growth to come from several sources rather than a single spending trend, Crawford said. During the Q&A, he divided the expected contribution roughly into thirds, including scheduled launches and customers already ramping; pipeline and new sales; and continuation of existing trends, including Latin America and consumer interactive growth.
Paysafe reaffirmed its full-year revenue guidance and expects the fourth quarter to be its strongest, supported by seasonality, sporting events, client wins and consumer marketing.
Shares were up 3% in early trading Thursday.
Data is also beginning to contribute to the top line. Paysafe has spent roughly two years building infrastructure around its merchant and consumer data, Lowthers said. The company uses it internally for fraud, attrition and customer engagement algorithms and has begun licensing it externally.
Paysafe initially believes the data business can develop into an annual revenue stream north of $50 million, Lowthers said.
Paysafe also briefly addressed the corporate work running alongside its payments strategy. It refinanced much of its debt and reached a preliminary settlement of litigation inherited from its SPAC period. Lowthers said the company has completed its portfolio rationalization and made major changes across technology, sales, talent and product delivery.
Key Takeaways Chipotle raised its 2026 comp outlook to low-single-digit growth after Q2 comps rose 2.2%.Chipotle's Recipe for Growth, menu innovation and improved throughput are supporting customer demand.Q3 comps are expected near 1%, making sustained traffic growth crucial to the recovery.
Chipotle Mexican Grill, Inc. (CMG - Free Report) is showing early signs of recovery after a difficult start to 2026. The company raised its full-year comparable sales outlook to the low-single-digit range, supported by improving traffic and stronger execution.
In the second quarter, comparable sales increased 2.2%, helped by 1% transaction growth. Revenues climbed 9.3% to $3.3 billion, while digital sales reached 38.3% of total sales.
Several initiatives are beginning to support demand. Chipotle's Recipe for Growth strategy focuses on menu innovation, restaurant execution, loyalty and digital engagement. The return of Chipotle Honey Chicken and the popularity of Cilantro Lime Sauce helped attract customers. Management also expects these initiatives to create additional transaction growth into 2027.
Operational improvements provide another potential catalyst. The company's high-efficiency equipment package is improving throughput, with equipped restaurants processing two to three additional entrees during peak periods. The rollout is expected to reach about 2,000 restaurants by year-end.
Still, the recovery is not without risks. Management expects third-quarter comps of roughly 1% amid softer recent trends and challenging comparisons.
Overall, Chipotle appears to be moving in the right direction. But sustained traffic growth will be crucial to prove that the worst is truly over.
CMG’s Recovery Stands Out Among Fast-Casual PeersChipotle appears better positioned than some fast-casual rivals as consumer demand remains uneven. CAVA Group (CAVA - Free Report) delivered strong second-quarter 2026 results, with same-restaurant sales rising 9%, supported by 5.3% guest traffic growth. The company also maintained its full-year outlook for 4.5-6.5% same-restaurant sales growth. CAVA’s performance highlights the importance of traffic and menu appeal in a cautious spending environment.
Sweetgreen (SG - Free Report) faced a more difficult quarter. Its second-quarter 2026 same-store sales declined 6.2%, while traffic fell 2%. Sweetgreen also lowered its full-year outlook and now expects same-store sales to decline 7-8% in 2026.
Against these contrasting trends, CMG's low-single-digit 2026 comp outlook looks relatively encouraging. Its second-quarter comparable sales increased 2.2%, with transactions up 1%. Management also sees further potential from menu innovation, Rewards, digital initiatives and improved restaurant throughput.
CMG’s Stock Price Performance, Valuation & EstimatesShares of Chipotle have declined 10.1% in the past six months, underperforming the industry and the S&P 500.
CMG Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, CMG trades at a forward price-to-sales (P/S) multiple of 2.99, below the industry’s average of 3.17.
CMG’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
EPS Trend of CMG StockIn the past 30 days, the earnings estimates for 2026 and 2027 have witnessed upward revisions.
Image Source: Zacks Investment Research
CMG currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Keysight má za 3. fiskální čtvrtletí vykázat vyšší tržby díky silné poptávce po řešeních pro elektronický návrh a testování. Konsensus čeká tržby 1,75 mld. USD oproti 1,35 mld. USD před rokem.
Key Takeaways KEYS is expected to post higher Q3 revenues, supported by demand for electronic design and test solutions.Keysight's new oscilloscope expands measurement offerings across AI, semiconductor and digital markets.KEYS' new photonics and RF design capabilities could strengthen software adoption and quarterly revenues. Keysight Technologies, Inc. (KEYS - Free Report) is set to release third-quarter fiscal 2026 results on Aug. 18, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 23.18%. It pulled off a trailing four-quarter earnings surprise of 9.46%, on average, beating estimates on all occasions.
Keysight is expected to report year-over-year revenue growth, driven by steady demand for its electronic design and test solutions. Growth across semiconductor, AI infrastructure and data-center markets, along with new product launches, is likely to have aided its overall quarterly performance.
Factors at PlayDuring the third quarter of fiscal 2026, Keysight introduced its GHz-class, high sample-rate oscilloscope with 12-bit resolution, expanding its high-performance measurement product lineup. The new oscilloscope is likely to have supported revenue growth through customer orders and sales across semiconductor, electronics, AI infrastructure and high-speed digital applications, while strengthening its position in advanced testing solutions.
During the quarter under review, Keysight expanded its photonic design automation portfolio with system-level simulation following the acquisition of VPIphotonics. The acquisition is likely to have contributed incremental revenues while expanding the company’s software offerings for optical communications, data centers and photonic system design.
Keysight added GlobalFoundries’ (GF) silicon-photonics support to its Advanced Design System (ADS) platform during the July quarter. The availability of the GF photonics process design kit is likely to have spurred revenue growth by expanding adoption of ADS Photonic Designer and related simulation software among customers developing silicon-photonic solutions for AI and high-speed data-center applications.
During the to-be-reported quarter, Keysight also introduced its Executable RF Design Whiteboard, a new capability designed to capture and reuse RF design methodologies within its simulation environment. The feature is likely to have a positive impact on third-quarter software revenues by increasing the value of its RF design tools, encouraging software upgrades and strengthening adoption among semiconductor and wireless design customers.
For the July quarter, the Zacks Consensus Estimate for revenues is pegged at $1.75 billion, indicating an increase from the year-ago quarter’s $1.35 billion. The consensus estimate for adjusted earnings per share is pegged at $2.46, implying growth from $1.72 reported in the prior-year quarter.
Earnings WhispersOur proven model does not predict an earnings beat for Keysight for the third quarter of fiscal 2026. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Keysight carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to ConsiderHere are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:
Micron Technology, Inc. (MU - Free Report) has an Earnings ESP of +3.09% and sports a Zacks Rank #1 at present. It is set to release its fourth-quarter fiscal 2026 numbers on Sept. 23.
The Earnings ESP for Analog Devices, Inc. (ADI - Free Report) is +2.37%, and it carries a Zacks Rank of 2 at present. The company is scheduled to report third-quarter fiscal 2026 numbers on Aug. 19.
The Earnings ESP for NVIDIA Corporation (NVDA - Free Report) is +0.52%, and it carries a Zacks Rank of 2 at present. The company is scheduled to report second-quarter fiscal 2027 numbers on Aug. 26.
Rocket Lab má backlog 2,36 miliardy USD, ale jeho přeměna na tržby závisí na úspěšném prvním letu rakety Neutron. Další zpoždění by tento proces zpomalilo.
Rocket Lab's (RKLB -0.17%) recently released second-quarter results revealed that the company has $2.36 billion in contract backlogs. It's an impressive amount and signals the rocket company is attracting customers. But some of that potential revenue, and it's only potential right now, is dependent on the successful flight of the company's all-important Neutron rocket.
Management has said that Neutron is expected to be on the launchpad in the fourth quarter after two years of delays. But any further delays will stifle Rocket Lab's ability to convert its contract backlogs into revenue.
Image source: Rocket Lab.
Neutron is the future of Rocket Lab Rocket Lab is currently depending on its existing Electron rockets for its launch business, and while they've been a successful piece of the company's growth, Rocket Lab can't reach its full potential without Neutron.
Neutron is a medium-lift rocket -- similar in size to Space Exploration Technologies' Falcon 9 -- that's reusable and capable of lifting to 28,000 lbs into lower earth orbit (LEO). An electron can only lift about 661 lbs.
Rocket Lab has made progress in its Neutron hot fires and stand tests, but Neutron's first launch is already two years behind schedule. And some of the company's latest contracts are specifically tied to Neutron.
For example, a recently announced $397 million contract with the U.S. Space Force states that Rocket Lab will use Neutron to deploy next-generation satellite technology called "flatellites" into LEO for the government agency. Rocket Lab's flatellites are stackable and flatter than traditional satellites, and will be used for the Space Force's Space-Based Airborne Moving Target Indicator (SB-AMTI) program.
To scale its business and achieve more efficiencies, the company needs to move beyond its Electron rockets and shift toward Neutron. SpaceX is doing the same -- although to a much larger scale -- with its Starship rocket. The larger the reusable rocket, the more payload and revenue these companies can earn from it.
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Neutron may reach the launchpad in the 2026 launch, but will it launch? Rocket Lab CEO Peter Beck said on the second-quarter earnings call that Neutron's target delivery to the launchpad is Q4 of this year. But he added that "the window for an end-of-year launch is narrowing" and that Rocket Lab is focused on balancing its first launch with scaling for future launches. And CFO Adam Spice said on the call that the first test launch would "hopefully" be later this year.
To me, it seems as if Rocket Lab management is very much leaving open the possibility that a launch may not happen this year.
Rocket Lab now has 90 launch missions in its backlog, both for Neutron and Electron rockets. For perspective, the company sold more launches in the first three months of 2026 than in all of 2025. And at least seven launches between now and 2029 are Neutron-specific for confidential commercial customers, excluding launches tied to the Space Force contract and other government defense launches.
This demand spurred Beck to say earlier this year: "Of all the things that I sit awake at night worrying about, Neutron demand is not one of them."
But with so much riding on a successful Neutron launch, investors should keep a close watch on how well the company executes on its current launch timeline. Further delays of Neutron's launch will mean Rocket Lab will have to wait longer to convert some of that impressive $2.4 billion backlog into sales.
Golar LNG oznámila vyšší čistý zisk za 2. čtvrtletí a zadala objednávku na čtvrtou FLNG konverzní jednotku, která má být dostupná v roce 2029. EBITDA vzrostla mezičtvrtletně asi o 20 % na 127 milionů USD.
3 LNG Stocks to Watch as Iran War ContinuesGolar LNG NASDAQ: GLNG reported higher second-quarter earnings as its floating liquefied natural gas fleet continued to perform above contracted levels, while the company announced a firm order for a fourth FLNG conversion unit expected to be available in 2029.
Chief Executive Officer Karl Fredrik Staubo said the company signed an order for another Mark II FLNG unit at CIMC Raffles in China, the same shipyard constructing the FLNG Esperanza. The fourth unit is expected to deliver in 2029 and, according to Golar, will represent the earliest available global FLNG capacity.
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Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?The order follows interest from prospective charterers and is consistent with Golar's policy of adding capacity after securing long-term commitments for its existing fleet, Staubo said. While the company has not yet announced a charter for the new unit, management said it is in advanced discussions with potential customers across several regions.
Second-Quarter Financial Results Chief Financial Officer Eduardo Maranhão said total operating revenue was $130 million in the second quarter. EBITDA increased about 20% sequentially to $127 million, from $106 million in the first quarter, primarily due to higher commodity-linked earnings from the Hilli FLNG.
Hilli generated $37 million in commodity-linked earnings during the quarter, compared with $10 million in the prior quarter. Net income was $56 million, bringing year-to-date net income to $158 million.
Golar declared a quarterly dividend of $0.25 per share. At quarter-end, the company had approximately $900 million in cash and about $1.8 billion of net interest-bearing debt. In July, Golar closed a $600 million revolving credit facility that remained undrawn, bringing available liquidity to approximately $1.5 billion.
Maranhão said Golar has funded about $1.3 billion of equity toward the Esperanza conversion project. He added that potential financing of Hilli and Esperanza could release approximately $2.3 billion of additional liquidity, with discussions on those financings advancing.
Fleet Performance and Argentina Redeployment Golar said the Gimi FLNG produced 15% above its contracted capacity during the second quarter. Staubo said the unit's performance occurred despite the higher temperatures of the summer period, which can affect liquefaction plants. Management expects high temperatures to continue affecting performance in the third quarter, but said Gimi is still expected to produce meaningfully above its contractual capacity for the year.
The Hilli completed its eight-year contract with Perenco Offshore Cameroon, delivering 100% economic uptime over the life of the contract and 156 cargoes. Its final cargo under the Cameroon contract was delivered July 26.
Hilli is now traveling to Singapore for modifications before beginning a 20-year contract in Argentina during the second half of 2027. Golar expects Hilli to generate annual EBITDA of $285 million before additional commodity-related upside once it begins operations in Argentina. Staubo said the refurbishment and redeployment budget is approximately $350 million from its departure from Cameroon through commissioning in Argentina.
Meanwhile, the FLNG Esperanza conversion was 74% complete, with more than 15 million man-hours worked without lost-time incidents. The project remains on schedule and on budget, with sail-away targeted by the end of 2027 and operations in Argentina expected to begin in the second half of 2028.
Golar said the total six-million-tonne LNG marketing program associated with Argentina is progressing. The first two million tonnes have been sold to Securing Energy for Europe, while multiple offtakers are bidding for the remaining four million tonnes, with additional agreements expected before year-end.
Growth Plans and Fourth FLNG Economics The fourth FLNG unit will increase Golar-controlled liquefaction capacity by 41%, from 8.6 million tonnes to more than 12 million tonnes on a fully delivered basis. The company said its existing Hilli, Gimi and Esperanza contracts provide an EBITDA backlog of $17 billion through 2045, before commodity upside and inflation adjustments.
The fourth unit has a capital expenditure budget of approximately $2.45 billion, compared with approximately $2.2 billion for Esperanza. Staubo said the roughly 10% increase reflects inflation in long-lead equipment, steel prices and currency fluctuations. He said the budget represents an all-in delivered cost, including shipyard EPC work, crew training, bunkering, transportation to the contract site and anticipated mooring systems.
Management said it expects synergies from repeating the Mark II design and constructing overlapping units at the same yard. Golar has secured a donor vessel for the fourth conversion and has also obtained an option for an additional Mark II FLNG at CIMC Raffles.
In addition, Golar signed a letter of intent with Seatrium in Singapore for shipyard slots that could support Mark I or Mark II FLNG conversions. Management said these arrangements could establish a pathway to a fleet of more than seven units, although the company will maintain its policy of having no more than one uncontracted FLNG unit at a time.
Staubo said Golar will not order a fifth unit until it has clear visibility on a long-term charter for the fourth. He described the typical commercial process as progressing from a term sheet or framework agreement to a definitive contract, followed by satisfaction of conditions precedent such as regulatory approvals, export licenses, environmental permits and, in some cases, tax-regime clarification.
Contracted Earnings and Commodity Exposure Maranhão said Golar expects annual run-rate EBITDA of approximately $800 million by 2028 once Gimi, Hilli and Esperanza are operating, excluding commodity upside and inflation adjustments. If the fourth FLNG secures terms broadly comparable to Esperanza, annual EBITDA could rise by about 50% to more than $1.2 billion by 2030, he said.
Under the Hilli and Esperanza charters in Argentina, Golar receives a commodity-linked fee equal to 25% of free-on-board LNG prices above $8 per MMBtu. Golar also owns a 10% interest in Southern Energy S.A., or SESA, providing further commodity exposure.
Maranhão said each $1 per MMBtu above $8 could generate up to approximately $100 million of incremental annual earnings for Golar. Based on current and forward pricing, the company estimates that commodity exposure could add up to $500 million annually during the first three years of SESA operations.
Management said it continues to conduct its previously announced strategic review but will not provide details on its potential outcome or timing unless there is material information to disclose or the board ends the process.
About Golar LNG (NASDAQ:GLNG)Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.
Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.
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PUMP za pět dní vzrostl o 27 % díky rekordním týdenním poplatkům a programu buyback-and-burn, i přes odemknutí 6.875 miliardy tokenů. Cena se drží kolem 0,0028 USD.
Pump.fun’s PUMP token climbed 27% from its Aug. 8 low as record weekly fees strengthened its buyback-and-burn program, while buyers absorbed volatility around a 6.875 billion-token unlock.
Summary
PUMP price rose from about $0.0022 to $0.0028 between Aug. 8 and Aug. 13. Pump.fun generated $10.03 million in weekly fees as ecosystem volume reached $2.97 billion. The platform bought and burned 2.15 billion PUMP worth $5.02 million during the week. Daily RSI reached 73.12, leaving the rally vulnerable to short-term profit-taking. PUMP price holds near $0.0028 after 27% rally According to data from crypto.news, PUMP price traded near $0.00279 on Aug. 13 after rising from approximately $0.0022 on Aug. 8. The token briefly reached an intraday high of $0.002895 before buyers and sellers settled around the $0.0028 area.
The move gave PUMP a gain of roughly 27% over five days, even after the token encountered profit-taking near $0.0029. Its Aug. 13 daily candle remained 1.34% higher at the time the chart was captured.
Price action over the past month shows a wider trend reversal. PUMP recovered from a June low near $0.0012 and broke above a series of lower highs that had controlled the market since February.
PUMP price daily chart — Aug. 13 | Source: crypto.news The token has now moved above its 20-, 50-, 100-, and 200-day simple moving averages. The 20-day average sits at $0.002288, while the other three averages are grouped between $0.001779 and $0.001875.
Trading above all four levels indicates that buyers control both the short- and medium-term trend. However, the large distance between PUMP and its 20-day average also shows that the rally has become extended.
The daily relative strength index reached 73.12, above the commonly watched overbought threshold of 70. The RSI average is lower at 68.08, showing that momentum remains positive but increases the chance of consolidation or a temporary pullback.
Buybacks support PUMP despite scheduled supply increase Pump.fun’s fee growth provided the main fundamental support for the rally. The Solana-based token launch platform generated $10.03 million in fees between Aug. 3 and Aug. 9, according to data previously reported by crypto.news.
Ecosystem trading volume reached $2.97 billion during the same period, its highest level since late January. The figure was not an all-time high, but it showed a strong recovery in activity across Pump.fun and its related trading products.
Under Pump.fun’s current token model, half of the protocol fees are used to purchase PUMP from the open market and burn the acquired tokens. The project’s token page confirms that 50% of protocol fees fund the program.
The latest weekly allocation resulted in $5.02 million of purchases and the removal of 2.15 billion PUMP from circulation. Regular market purchases provide a recurring source of spot demand, while burning the tokens prevents them from returning to circulation.
However, PUMP also faced a larger scheduled supply event. DefiLlama’s unlock schedule showed 6.875 billion tokens becoming available on Aug. 12, including 4.167 billion assigned to the team and 2.708 billion for existing investors.
The unlocked amount represented about 1.75% of the circulating supply and was worth approximately $19.2 million at the prevailing price. An unlock does not prove that holders sold their tokens, but it increases the amount that could enter the market.
PUMP’s ability to remain near $0.0028 after the event suggests that available demand has so far prevented a deeper reversal. Still, future transfers from team or investor wallets could create additional pressure if recipients move substantial amounts to exchanges.
PUMP technical setup points to $0.003 resistance The 4-hour chart shows PUMP consolidating after its latest advance rather than immediately surrendering the breakout. Price remains above the Bollinger Band midpoint at $0.002757, with the lower band at $0.002667.
PUMP price 4-hour chart — Aug. 13 | Source: crypto.news The upper band stands at $0.002848, close to the latest intraday high. A 4-hour close above that band would put the $0.0029–$0.0030 area back in focus.
The $0.0030 level carries both technical and psychological importance. It sits near the upper end of the latest price range and could attract selling from traders who entered during the July recovery.
The Awesome Oscillator remains positive at 0.000117, confirming that short-term momentum favors buyers. Its histogram has weakened from the Aug. 11 peak; however, indicating that the rate of price acceleration is slowing.
Immediate support sits around $0.00275, where the 4-hour Bollinger midpoint is located. A loss of that level could send PUMP toward the lower band at $0.00267.
A deeper correction would bring $0.0025 into view. That area previously acted as resistance and could now serve as breakout support. Holding above it would preserve the wider sequence of higher highs and higher lows.
Liquidation clusters could increase PUMP volatility CoinGlass’ 24-hour liquidation heatmap shows leverage building on both sides of the current price.
PUMP liquidation chart | Source: CoinGlass The nearest overhead clusters appear between approximately $0.00282 and $0.00290. A breakthrough at $0.00285 could force short sellers to close positions, adding market buy orders and accelerating a move toward $0.0030.
Larger downside liquidity is visible around $0.00271–$0.00273, with another concentration near $0.00264. Price often moves toward areas containing dense leveraged positions, although a heatmap cannot determine which cluster will be reached first.
A drop below $0.00275 could therefore produce a long-liquidation move toward $0.00270. The stronger bullish structure would only face material damage if sellers push PUMP below $0.0025.
For U.S. traders, the token’s platform-specific rally is unfolding while the broader crypto market remains cautious following the July inflation report. The Bureau of Labor Statistics released the data on Aug. 12, with annual headline inflation easing to 3.4%.
PUMP’s relative strength despite restrained movement in Bitcoin suggests that buybacks and platform activity are currently carrying more weight than the wider macro backdrop. The bullish case now depends on a break above $0.0029, while an overbought daily RSI and newly unlocked supply remain the main near-term risks.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Pump.fun spustil Callout Rewards, program, který odměňuje uživatele za objem obchodů, jež na platformu přivedou. Zároveň PUMP za posledních 30 dní vzrostl o více než 90 %.
Pump.fun Rolls Out Callout Rewards Program@Pumpfun has launched Callout Rewards, a decentralized incentives program designed to pay users directly for the trading volume they help generate on the platform. The program tracks volume attributed to individual user activity, including push notifications and home feed discoveries, then distributes payouts from internal liquidity pools on a pro-rata basis.
The structure is automated and intended to run over the long term. Crucially, @Pumpfun says no additional fees will be introduced to fund it. The platform's existing zero-fee trading on $SOL trades remains in place, and its 0.2% fee on cross-chain transactions is unchanged.
The launch builds on a broader push by @Pumpfun to deepen user engagement through social and discovery tools. Callout Rewards now adds a financial layer to that mechanic, giving users a direct economic stake in the volume their alerts generate.
PUMP Token Climbs More Than 90% in 30 DaysThe feature launch coincides with a sharp rally in solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn, which has surged over 90% in the past 30 days.
The Callout Rewards program signals that @Pumpfun is leaning into social-driven volume as a core growth lever, rewarding the users who surface tokens to the widest audiences rather than just the creators who launch them.
Veřejně obchodovaní Bitcoin těžaři snížili realizovaný hashrate o 13,4 % z 368,3 EH/s na 319 EH/s, protože část kapacity přesouvají do AI infrastruktury a datových center.
Publicly traded Bitcoin miners are cutting mining capacity faster than the Bitcoin network overall, suggesting that more operators are redirecting electricity and infrastructure toward data centers and high-performance computing (HPC), in another sign of the sector’s evolution beyond creating more crypto.
In the latest Miner Weekly newsletter, BlocksBridge Consulting reported that realized hashrate among a cohort of public Bitcoin miners fell from 368.3 exahashes per second (EH/s) in the fourth quarter of 2025 to 319 EH/s in the second quarter of 2026, a 13.4% decline.
The contraction was even sharper when excluding Bitdeer, which continued to expand its mining operations. Without Bitdeer, the cohort’s realized hashrate fell 21.2% over the six-month period, from 324.6 EH/s to 255.9 EH/s. Bitdeer’s realized hashrate, meanwhile, increased 44% to 63 EH/s.
By comparison, the Bitcoin network’s average hashrate declined 10.6% over the same period.
The shift comes as more miners report a growing share of revenue from non-mining activities. Core Scientific generated $136.7 million in colocation revenue during the second quarter, compared with just $27.5 million from Bitcoin mining. TeraWulf reported $31.9 million in HPC lease revenue, compared with $12.8 million from mining.
Core Scientific and TeraWulf are now generating the majority of their revenue from non-mining activities.
Source: TheEnergyMag
Riot Platforms and Bitdeer remain much earlier in the transition, with Bitcoin mining continuing to account for the vast majority of their revenue in the most recent quarter.
Unwinding post-China mining boomBlocksBridge framed the current pullback as an unwinding of the expansion cycle that followed China’s Bitcoin mining ban in 2021, which triggered one of the sharpest declines in network hashrate before a rapid recovery as miners relocated overseas.
In North America, that migration helped fuel an expansion among public miners, which raised capital and acquired new power sites to expand their operations.
One halving cycle later, the economics have shifted significantly. Weaker mining profitability, coupled with surging demand for AI infrastructure since 2022, has prompted several public miners to repurpose sites and power capacity away from Bitcoin mining entirely.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Bitcoinová komunita tvrdí, že čínské open-source AI modely překonávají omezené systémy OpenAI a Anthropic při obranném auditu kybernetické bezpečnosti. Vývojáři se proto spoléhají na ně při ochraně bitcoinové infrastruktury.
Bitcoin company leaders and open-source developers are publicly stating that Chinese AI models are currently outperforming restricted American frontier systems in defensive cybersecurity work, forcing researchers to rely on them to secure critical Bitcoin infrastructure.
Rob Hamilton, CEO of AnchorWatch, a Bitcoin self-custody insurance company, reported cripling American AI restrictions. After integrating OpenAI’s trusted cyber program (having already completed KYC months earlier), he was blocked from further analysis on a codebase he had already responsibly disclosed. “It absolutely guts me as a patriotic American to have to do this, but I will be going back to using Chinese open source models to conduct my research to protect Bitcoin infrastructure,” Hamilton wrote. “Black hats will not hit these issues. The white hats will.” Days later, he gained access to OpenAI’s “Daybreak Blue” cyber model and was blocked again within 19 minutes while red-teaming Bitcoin infrastructure.
Francis Pouliot, founder of Bull Bitcoin, a Bitcoin-only exchange focused on self-custody infrastructure, described the situation bluntly. “I have never seen OpenAI this cucked. It’s cucked beyond belief now. Not even for security, for anything related to Bitcoin,” he posted. “USA AI industry is completely cooked if they don’t change this path,” he concluded, adding “Open-source Chinese LLMs. [orange heart emoji],” meaning that open Chinese models like Kimi K3 are actually helpful to Bitcoin. In a follow-up, Pouliot detailed how a Chinese open-source model identified a money-stealing exploit in a project he was auditing, demonstrated it on regtest, and helped patch it. When he asked the American models he pays for to review the same patch, they refused.
PortlandHODL, a Bitcoin Core contributor who builds for AnchorWatch, publicly highlighted the performance gap. “US-based Frontier AI Model – ‘You’re absolutely right!’ Chinese Open Model – ‘78 critical vulnerabilities found.’ The implications of this are unfathomable,” he posted. In a follow-up, he added that he felt he was “basically asking Xi to not get my software hacked at this point,” calling for OpenAI and Anthropic to create proper access programs for U.S. citizens doing defensive security work.
Alex Thorn, Head of Firmwide Research at Galaxy, signed a recent Bitcoin Policy Institute open letter demanding trusted access to frontier models for open-source defenders. “Americans should not have to rely on Chinese AI to defend themselves, their projects, companies, or clients from cyber-attacks,” he wrote. “RED TEAM NEEDS THE MODELS.”
On August 10, the Bitcoin Policy Institute — a Bitcoin and, of late, AI-focused policy think tank — published an open letter signed by more than 70 organizations across the digital-asset ecosystem, including major custodians, exchanges, mining firms, and open-source development groups. The letter calls on frontier AI labs to establish clear trusted-access programs for qualified open-source and digital-asset defenders. It argues that current restrictions and safety guardrails leave legitimate security researchers without access to the strongest models, forcing them to rely on less capable open-weight alternatives while sophisticated attackers face no such limits. The signatories request early access to cyber-capable models, sufficient compute, secure environments for reviewing code, and direct channels with lab security teams, stating that frontier AI could become one of the most powerful defensive technologies available if defenders are given fair access.
These statements reflect a broad pattern among Bitcoin security researchers: American models from OpenAI and Anthropic frequently refuse or restrict legitimate defensive work, even to users who are supposed to have been granted explicit access, while Chinese models such as Kimi K3 operate without the same guardrails and are delivering confirmed results. Concerns about hosting infrastructure of Chinese models being an attack vector can also be mitigated, since they are open source and can be run on American-hosted data centers, a trend that is likely to threaten the U.S. AI market if it continues.
Coldcard Exploit Triggers Ecosystem-Wide Response The cybersecurity pressure became acute in the Bitcoin industry after a firmware flaw in Coldcard hardware wallets was exploited beginning July 30, resulting in the theft of well over $100 million in bitcoin from seeds generated with insufficient entropy. Bitcoin Magazine published an urgent advisory urging affected users to migrate funds: COLDCARD SECURITY RISK: IMMEDIATE ACTION REQUIRED.
In response, a volunteer effort known as the Bitcoin Red Team formed, led by open-source developer Calle (creator of Cashu and the Android version of Bitchat) and Rob Hamilton. The group has conducted large-scale AI-assisted audits of Bitcoin open-source repositories, using models including Kimi K3 as the primary workhorse alongside limited access to Western systems. Early results, covered by Bitcoin Magazine, showed thousands of findings across hundreds of projects, including dozens of critical issues, with spending covered largely by OpenSats.
By August 8, after more than 100 hours of work involving dozens of contributors, the team reported scanning 501 projects and producing 7,958 findings, of which 1,280 were rated high or critical severity. The majority of compute spend continued to go to Chinese open-weight models.
Lessons from the Red Team Campaign Most recently, Calle shared lessons from the intensive red-team period. The effort has essentially completed a basic scan of virtually the entire Bitcoin open-source landscape; low-hanging fruit is largely exhausted, the developer wrote on this X account. Maintainers across projects have validated many of the critical and high-severity reports, while response times from projects vary widely and serve as a signal of overall health.
Key takeaways include the need for every project to maintain its own permanent AI audit pipeline going forward. Projects that began such reviews months earlier are in a markedly stronger position. Unmaintained repositories should be treated as likely broken and unreliable.
Calle also warned that the human-only era of open-source security review is over; verification is now effectively free, and information overload must be handled with AI rather than complaints about PR slop. Multiple concurrent and diverse human approaches remain the strongest method for finding vulnerabilities, and external red-teaming will likely be required indefinitely.
Calle also repeatedly emphasized that developers should stop writing security-critical code in C. In a follow-up post he explained: “we’re finding memory-safety vulnerabilities in c projects that are prevented by default in many other languages. In the past, finding a simple buffer overflow wasn’t enough. You’d need a highly skilled hacker to turn the vulnerability into a working end-to-end exploit. Today, that’s a single prompt.”
Bitcoin was the first major open-source ecosystem to confront this collision between accumulated human code and frontier AI capability. The rest of the software world is expected to follow.
Riot Platforms prodá 4 300 BTC a výnosy použije na rozšíření datových center pro AI pracovní zátěž. Firma tím potvrzuje odklon od pasivního držení krypta.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
As revealed in the latest SEC filing, U.S.-based Riot Platforms will sell 4,300 BTC and direct the proceeds toward expanding its data center network for AI workloads, confirming that the largest miners are moving away from the strategy of passively accumulating cryptocurrency.
The shift in priorities was driven by a prolonged decline in mining income. In the second quarter, the company's mining revenue fell 19.3% due to rising electricity costs and hashprice falling to historic lows.
Bitcoin mining margin pressures are funding the AI pivotThe market situation remains tense. Bitcoin is trading within a narrow range of around $63,500–$63,700, while the average cost of mining it across the market, according to industry models, stands at $76,000–$78,000 per coin.
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As a result, the average miner on the network is currently operating at a loss, as hashprice has fallen to a record low of $30–$35 per PH/s per day. Only operators with extremely cheap electricity and the latest equipment remain profitable.
Bitcoin miners revenue (USD) over the last 6 months, Source: Blockchain.comRiot's figures are better than the market average, but the broader trend has affected the company as well. Its direct cost of mining one Bitcoin rose to $49,912 due to higher energy rates and the expansion of its capacity in Kentucky.
This forced management to partially liquidate its holdings by selling some of its accumulated coins, while mining revenue stood at $113.7 million.
At the same time, the company maintains a strong balance sheet and a $1.2 billion cushion of liquid assets, including $548.9 million in cash and a reserve of 11,380 BTC.
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However, its business model is shifting toward a more predictable infrastructure business. Riot has already delivered its first capacity for AMD, while its key long-term project is a 20-year contract to lease AI laboratory facilities, with expected revenue of $9.1 billion.
Riot's actions reflect a broader market trend in 2026, as miners gradually transform into operators of computing centers. Other major players, including MARA Holdings, Core Scientific, and Bitdeer, have previously partially or fully liquidated their crypto reserves to fund the construction of AI infrastructure.
UBS zvýšila držbu spot Bitcoin ETF o 230 % na 90 milionů USD v iShares Bitcoin Trust od BlackRocku. Zvažuje také nabídku obchodování s kryptoměnami pro vybrané privátní klienty ve Švýcarsku.
UBS Group AG, Switzerland’s largest bank, has significantly increased its stake in spot Bitcoin exchange-traded funds (ETFs), raising its holdings by 230% to a total value of $90 million in BlackRock’s iShares Bitcoin Trust. The bank now owns approximately 2.5 million shares, marking a substantial expansion since its initial investment of just 3,600 shares valued below $150,000 at the start of 2024.
Growing institutional embrace of BitcoinUBS’s latest move signals growing momentum among major banks to increase exposure to digital asset products, even as the broader crypto market endures a period of volatility. The bank has allowed its wealth management clients broader access to BlackRock’s iShares Bitcoin Trust (IBIT) and comparable ETFs, which has resulted in parallel growth between the firm’s own positions and its facilitation for clients.
A UBS spokesperson emphasized the bank’s forward-looking approach to blockchain innovation, stating:
UBS recognizes the importance of distributed ledger technology like blockchain, which underpins digital assets.
According to individuals familiar with the matter, UBS is also evaluating the introduction of cryptocurrency trading services for select private banking clients in Switzerland. If implemented, initial offerings would include direct trading access to Bitcoin (BTC) and Ethereum (ETH), with possible future expansion to Asia-Pacific and US markets. The sources noted that a final decision on launching these services has not yet been made.
Institutional flows and market recovery hopesDespite a sharp market decline during the past year, institutional interest in digital assets remains strong. In the first quarter of 2026, 1,560 institutional entities held collective IBIT shares valued at over $27 billion. Since approval in January 2024, US-listed cryptocurrency ETFs have surged, now overseeing nearly $140 billion in assets, led predominantly by BlackRock’s iShares Bitcoin Trust.
At the same time, some hedge funds scaled back on their Bitcoin ETF allocations in Q1 2026, while banks increased exposure, suggesting a divergence in institutional appetite for risk and long-term positioning. Currently, Bitcoin is trading at $63,433, reflecting a decline of more than 40% over the year.
Tools for navigating volatile marketsAs shifting regulatory landscapes and legislative developments take shape globally, market observers suggest institutional investment—such as UBS’s aggressive accumulation—could help steady Bitcoin’s recovery trajectory through the rest of the year. In highly volatile conditions where Federal Reserve decisions or sudden altcoin listings can shift sentiment instantly, traders and institutions alike are seeking efficient ways to manage multiple market data streams.
Smart traders have started consolidating analytics by using privacy-first platforms like CryptoAppsy. This app brings together real-time charts, customized price alerts, coin-specific news feeds, and macroeconomic indicators—all accessible on a single screen, and without the need for account registration, reducing the friction and costs of switching between separate tools.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Trezor oznámil únik dat, který zasáhl 13 689 zákazníků v USA, Velké Británii, Švédsku, Kolumbii, Brazílii, Itálii a Portugalsku, kteří obdrželi objednávku během 90 dnů před 8. srpnem. Firma uvedla, že systémy i zařízení zůstávají bezpečné, ale hrozí více phishingových útoků.
Hardware wallet manufacturer Trezor has announced a data breach exposing customer data.
Writing on X Thursday, the company said that 13,689 customers from the US, UK, Sweden, Colombia, Brazil, Italy, and Portugal who received an order 90 days prior to August 8 were affected.
We have some difficult news to share. Unfortunately, one of our shipping providers has experienced a data breach that exposed sensitive order data. This affects new customers in the US, UK, Sweden, Colombia, Brazil, Italy, and Portugal who received an order within the 90 days…
— Trezor (@Trezor) August 13, 2026 “Our systems and devices remain secure, but affected customers could experience an increase in phishing attempts,” the Prague, Czech Republic-based company said. “We are deeply sorry to the community and those affected.”
Trezor said that 11,742 customers had their names, emails, phone numbers, and shipping addresses leaked. Another 1,947 customers had just their names, cities and emails exposed.
SatoshiLabs, the parent company of Trezor, said in an email to Bitcoin Magazine that its third-party fulfillment partner, ShipMonk, had experienced “unauthorized access to their systems containing customer data.”
“Scammers can use the leaked information to send fake emails, make fake phone calls, send fraudulent letters, or potentially impersonate banks, crypto exchanges, or even Trezor,” the company said.
SatoshiLabs said it was continuing to investigate the incident.
Trezor is one of the most popular Bitcoin hardware wallet solutions, and also has support for storing other cryptocurrencies.
Bitcoiners’ personal data has been targeted by cybercriminals in the past: back in 2020, an unauthorized party accessed popular hardware manufacturer Ledger’s e-commerce and marketing database, leaking over 1 million email addresses and the personal contact data of nearly 10,000 customers.
And at the start of this year, customers reported receiving emails from Global-e, Ledger’s payment partner, that a data breach at its cloud systems leaked sensitive customer data.
The Bitcoin community is still reeling after hackers targeted Canadian company Coinkite’s popular Coldcard product.
Hackers started draining $111 million in Bitcoin from the popular Coldcard hardware wallets at the end of last month.The amount stolen could be much higher as investigations continue, with some estimating the real figure to be over $130 million.
The theft continued, with Bitcoiners — and Coinkite — asking users to move their funds as hackers continued to drain digital coins from the later devices.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
HIVE Digital Technologies staví expanzi těžby Bitcoinu v Paraguayi na levné vodní energii a má tam už 300 MW hydroelektrické kapacity. Firma cílí na globální hashrate 25 EH/s v roce 2025 a 35 EH/s v roce 2026.
HIVE Digital Technologies is doubling down on Paraguay as the centerpiece of its Bitcoin mining expansion, with the company’s newly appointed country site president outlining a vision built on clean energy, disciplined growth, and operational leadership in one of South America’s most energy-rich nations.
Gabriel Lamas, who took over as HIVE’s Country Site President in March 2025, has been vocal about what he sees as the recipe for sustainable Bitcoin mining: cheap hydroelectric power, careful scaling, and strong on-the-ground management.
Paraguay’s power advantage
The country sits downstream from the Itaipú Dam, one of the largest hydroelectric power plants on the planet. HIVE operates two major facilities in the country: a 200 MW site at Yguazú, acquired in early 2025, and a 100 MW facility at Valenzuela, completed the same year. Combined, that’s 300 MW of hydroelectric-powered mining capacity.
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Paraguay generates far more hydroelectric power than its domestic economy can absorb. That surplus energy, sometimes called “stranded” power, sits there doing nothing unless someone finds a use for it. Bitcoin mining fits that gap almost perfectly.
Lamas brings over 20 years of experience in the industry to the role, including prior work with Bitfarms, another publicly traded mining company. According to HIVE, his leadership has exceeded operational expectations during the phased scaling of the Paraguayan sites.
The hashrate targets
HIVE is targeting a global hashrate of 25 EH/s (exahashes per second) in 2025 and 35 EH/s in 2026. The jump from 25 to 35 EH/s in a single year would represent a 40% increase. That’s aggressive, particularly in a post-halving environment where Bitcoin mining rewards were cut in half in April 2024. After a halving, miners earn fewer Bitcoin per block, which means only the most efficient operators survive and thrive.
Beyond Bitcoin: the AI infrastructure play
HIVE has been developing its BUZZ platform, which is designed to support AI and high-performance computing (HPC) workloads alongside traditional mining operations. The idea is that the same infrastructure, power supply, and cooling systems that serve Bitcoin miners can also serve the rapidly growing demand for AI compute.
The company trades on both Nasdaq and the TSX under the ticker HIVE, giving it access to both US and Canadian capital markets.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Strategy v roce 2026 prodala zhruba 6 916 BTC za asi 431 milionů USD, přestože Michael Saylor dál tvrdí, že jeho osobní Bitcoin nikdy neprodá. Společnost drží 840 447 BTC.
Two of the most famous Bitcoin bulls in the world made the same promise. Here is exactly what happened next, and why the distinction between them matters.
President Donald Trump said it in Nashville in July 2024, standing in front of the largest Bitcoin conference crowd in history. "Never sell your Bitcoin." He said it again at the White House Crypto Summit in March 2025 when Bitcoin was trading near $90,000.
Michael Saylor said it at least five documented times between 2022 and 2026, in interviews, on stage, and on X. The phrase became crypto's most repeated conviction statement.
On August 3, 2026, Saylor posted: "When I say 'Never Sell Your Bitcoin,' I speak as one saver to another. I have never sold mine. Not one Satoshi. Strategy is a public company, not my wallet."
On the same day, Strategy filed with the SEC disclosing it had sold 1,638 BTC between July 27 and August 2 at an average price of $63,957 per coin, roughly 15 percent below the company's average acquisition cost of $75,385.
The Strategy scorecardStrategy has sold Bitcoin several times in 2026. In late May, 32 BTC went first, the smallest sale but the one that broke the psychological barrier. Then 1,363 BTC for $80.8 million at end of June.
Then 2,225 BTC for $135.2 million in early July. Then 1,638 BTC for $104.73 million between July 27 and August 2.
Then 1,690 BTC for $108.6 million between August 3 and August 9. Total Bitcoin sold in 2026: approximately 6,916 BTC for roughly $431 million, all at prices below the company's average cost of $75,385 per coin.
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Current holdings stand at 840,447 BTC. MSTR shares are down approximately 70 percent over the past 12 months and trading near $97.
Trending on TheStreet Roundtable:Cathie Wood trims Ethereum exposure on 11th anniversaryU.S. Treasury attacks Iran's Hormuz 'extortion' networkJPMorgan issues blunt warning on crypto's futureThe Trump distinctionTrump's situation is different and requires accuracy. Trump personally still holds Bitcoin, his financial disclosure confirms a cold wallet position above $50 million, untouched.
The "never sell" promise he made is technically still intact at the personal level. However, Trump Media, his separately managed company, has moved approximately 7,281 BTC to exchange addresses in 2026, though transfers to exchanges do not automatically confirm sales, and Trump Media has denied selling its Bitcoin holdings.
What the phrase actually means nowSaylor's clarification on August 3 drew the line cleanly: his personal Bitcoin remains unsold. Strategy's company Bitcoin is a different calculation, one driven by $1.26 billion in annual preferred stock dividends that require cash the company does not always have without selling something.
The "never sell" message was always directed at retail investors holding their own coins.
The companies built on top of that message operate under different constraints entirely.
Společnost Evernorth Holdings, podporovaná Ripple, upravila podmínky subscription agreements pro svůj private placement v rámci plánované fúze s Armada Acquisition Corp II, aby bylo vydáno méně akcií a na každou připadalo více XRP. Firma zároveň 13. srpna podala k SEC šestou úpravu registračního prohlášení S-4.
Ripple-backed XRP treasury Evernorth Holdings on Thursday said it has amended subscription agreements for its private placement related to its proposed merger with Armada Acquisition Corp II. It means fewer shares issued and more XRP behind every share ahead of Nasdaq listing.
Ripple-Backed Evernorth Holdings Nears Merger and Nasdaq Listing
Evernorth Holdings, the Ripple-backed XRP treasury, filed amendment no 6 to its Form S-4 registration statement with the U.S. Securities and Exchange Commission (SEC) on August 13.
The Ripple-backed firm claimed it has strengthened public investors’ positioning as it advances toward a Nasdaq listing. This structure is expected to reduce the total number of shares issued, focusing the company’s net asset value across fewer shares. This means each share will represent a larger portion of Evernorth’s XRP holdings.
The amendment is intended to maintain alignment between the company’s capitalization and the market value of its underlying XRP holdings at closing. It will be a volume-weighted average XRP price, rather than $2.36, as of when the merger agreement was signed.
“Tying the share count to XRP’s value at closing is the right thing to do for Evernorth and our investors,” said Asheesh Birla, founder and CEO of Evernorth Holdings.
Notably, Evernorth Holdings has raised over $1 billion from investors including Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR, among others.
XRPN Stock Jumps
Armada Acquisition Corp II’s XRPN stock price has retained its upside momentum despite XRP price drops and Clarity Act delays. XRPN stock hits a new YTD high of $10.50 in premarket hours on Thursday.
The stock closed 0.19% higher at $10.48 on Wednesday. The intraday low and high were $10.45 and $10.49, respectively. Trading volume is also rebounding as Ripple-backed Evernorth Holdings nears a merger after finalizing employment agreements.
XRPN stock is up 2.54% year-to-date as investors await Armada Acquisition Corp’s stockholders and the SEC’s approval of the merger with Evernorth Holdings.
Nasdaq-listed stock has surged nearly 0.30% in the past month, with potential for further upside moves. The 52-week high is $10.91.
Armada Acquisition Corp II’s XRPN Stock Price. Source: Google Finance
Meanwhile, XRP price is trading in the $1-1.02 range after falling more than 3% in a week. The price is currently trading at $1.01, down more than 1% over the past 24 hours.
Furthermore, trading volume has dropped further by 34% over the last 24 hours. However, institutions are increasing exposure via XRP ETFs. As CoinGape reported, JPMorgan revealed holdings in Bitwise and Grayscale XRP ETFs, along with Armada Acquisition Corp II.
Investors wanting to access similar high-growth companies before they go public can utilize the best pre-IPO token platforms to acquire fractionalized private shares on-chain.
Sedm XRP ETF drží dohromady asi 992,5 milionu XRP a jejich čisté přílivy kapitálu dosáhly 1,51 miliardy USD. V poslední obchodní seanci ale přiteklo 0 USD.
XRP, the native token of the XRP Ledger, has attracted renewed attention from institutional investors, despite recently marking its lowest daily close amid sharp price declines. New data indicates that funds offering XRP exchange-traded fund (ETF) products have continued accumulating the digital asset, locking significant amounts out of general circulation.
XRP ETF accumulation surpasses 990 millionThe most recent figures from an ETF tracker show that seven XRP ETFs have collectively secured approximately 992.5 million XRP as of Thursday, August 13. This accumulation comes during a period marked by heightened volatility and a persistent downtrend in XRP’s market price.
Asset managers providing these ETF products have seen consistent growth in their holdings, despite a low or stagnating daily trading volume. In total, net inflows into all existing XRP ETFs have reached $1.51 billion, a figure highlighting sustained interest in XRP among institutional participants.
MetricValueTotal XRP locked in ETFs992.5 million XRPTotal net ETF inflows$1.51 billionNumber of XRP ETFs7Momentum slows amid market volatilityRecent trading sessions have shown a noticeable slowdown in momentum for XRP ETFs. During the last session, net inflows were reported at $0, indicating an absence of new capital being added to the products. Despite this stagnation, the overall assets under management remain substantial, pointing to resiliency among current investors.
With XRP’s price revisiting multi-year lows, fund managers appear to be maintaining their existing positions rather than actively expanding them. The persistence of already large holdings highlights a wait-and-see approach as the market searches for signs of renewed activity or reversal in price trends.
Investor demand drives narrative shiftLarge XRP transactions are typically associated with Ripple, a US-based fintech company known for developing payment solutions using blockchain technologies. Such movements often fuel speculation about their implications for XRP’s price and supply dynamics.
However, the recent accumulation of nearly 1 billion XRP through ETF products marks a notable departure from this pattern. Institutional demand, rather than direct action from Ripple, has been the driving force behind the token lock-ups, contributing to what some view as a more optimistic outlook for XRP’s adoption within ETF structures.
This shift has altered discussions in the community, as debates about Ripple’s influence take a backseat to conversations around growing investor interest in regulated XRP investment vehicles.
Mini dictionary: XRP ETF, an exchange-traded fund that tracks the price of XRP, enabling institutional or retail investors to gain exposure to XRP through regulated traditional markets without directly holding the asset.
Growing accumulation of XRP in ETF products has prompted a bullish narrative, as these inflows are being driven by institutional investor demand rather than direct action by Ripple.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
EvernorthXRP upravila podmínky fúze se SPAC společností Armada Acquisition Corp. II tak, aby vydávání akcií navázala na závěrečnou cenu XRP místo pevné úrovně 2,36 USD. Firma se má na Nasdaq uvést pod tickerem XRPN.
EvernorthXRP, a Ripple-backed XRP treasury firm, has amended the terms of its SPAC merger with Armada Acquisition Corp. II. The change links the issuance of shares to the closing price of XRP rather than a fixed $2.36 reference. This adjustment in the merger terms suggests a move to align more closely with the token’s market value. The merger aims to list EvernorthXRP on Nasdaq under the ticker XRPN. The firm has indicated plans to acquire at least 473 million XRP at the merger’s inception, with previous purchases reported at an average price of $2.54 per XRP.
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Key Takeaways EvernorthXRP’s decision appears to align share issuance more closely with XRP’s market value, suggesting potential implications for XRP’s pricing dynamics. The market’s reaction to this amendment is currently muted, with XRP-related prediction markets indicating low probability of reaching higher price levels in August. The amendment suggests a possible anticipation of price fluctuations, which may influence market participants’ expectations and behaviors. What to Watch The amended merger terms could impact XRP’s market sentiment and pricing dynamics. Key developments to monitor include any regulatory updates from the SEC that could affect XRP, as well as broader crypto market movements. Watch for any major announcements from Ripple or EvernorthXRP that could serve as catalysts for XRP’s price movement. Additionally, sustained interest in XRP from institutional investors or changes in broader market conditions could further influence the outlook.
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Term Structure
Contract Odds Δ since publish Volume 24h September 1 2026 0.5% — — View market → September 1 2026 2% — — View market → September 1 2026 0.7% — — View market → September 1 2026 5.9% — — View market → September 1 2026 6.5% — — View market → September 1 2026 1.7% — — View market →
XRP od začátku roku klesl o 42 %, i když SEC stáhla odvolání a v USA vzniklo sedm fondů zaměřených na XRP s přílivem 1,5 miliardy USD. Pozornost se teď přesouvá k RLUSD, stablecoinu Ripple, který může omezit využití XRP v přeshraničních platbách.
XRP has declined by 42% since the start of the year, despite a series of regulatory and institutional developments that were expected to bolster the cryptocurrency’s value.
Institutional access rises as legal challenges fadeFire Hustle, a crypto-focused analysis platform, highlighted that recent moves by the US Securities and Exchange Commission (SEC) to drop its appeals have removed immediate legal uncertainties surrounding XRP.
Analyst Summer from Fire Hustle also pointed out the launch of seven funds centered on XRP operating in the United States, which have reportedly attracted $1.5 billion in inflows.
These developments have improved institutional access to XRP. With both regulatory concerns and access now less prominent, market observers are turning their attention to Ripple’s evolving product strategy for XRP.
XRP’s decline in 2024 has occurred even as seven US-based funds reportedly attracted $1.5 billion in investment and SEC legal appeals were dropped. However, questions are emerging over whether Ripple’s upcoming stablecoin could further limit XRP’s primary utility by offering a less volatile means for cross-border transactions.
Stablecoin launch may impact XRP’s utilityRipple, the US-based blockchain company behind XRP, is preparing to launch RLUSD, a stablecoin pegged to the US dollar. Market commentators raised concerns that RLUSD could reduce bank demand for XRP in cross-border settlement.
Historically, XRP has served as a bridge asset, enabling banks to transact value between different fiat currencies by purchasing XRP in one currency, transferring it, and then selling it in another currency market. This system relies on banks accepting XRP’s price volatility as part of the transaction process.
RLUSD’s stable value may appeal to institutions wishing to avoid the risks of price fluctuations. Instead of using XRP for settlements, banks could opt for RLUSD, bypassing direct exposure to crypto market volatility and minimizing risk during large transactions.
Mini dictionary: RLUSD, Ripple’s planned stablecoin, is a digital asset pegged to the US dollar and designed to offer low volatility for institutional cross-border payments. Stablecoins aim to maintain a consistent value, easing concerns over price swings during settlements and providing an alternative to traditional fiat or volatile cryptocurrencies.
Should RLUSD be widely adopted, the main mandatory use case for XRP could shrink to serving as a source of transaction fees, which remain quite minimal at approximately a thousandth of a cent per transaction.
Network activity rises but token demand questionedOn-chain activity on the XRP Ledger has surged recently, with daily transactions reportedly tripling to about 3 million. This uptick suggests growing network usage amid ongoing product development.
However, Fire Hustle emphasized the distinction between increased network transactions and direct demand for the XRP token. With the possible integration of stablecoins like RLUSD, much of the rising value transfer could occur without the need for XRP purchases beyond the small amount needed for fees.
Market participants remain attentive to whether banks and payment providers will favor traditional bridge assets like XRP or regulated dollar-backed tokens for cross-border transfers, as this could have a decisive impact on long-term token demand and prices.
DevelopmentXRPRLUSDPrice volatilityHighLow (stable at $1)Cross-border payment usePrimary (historical)Potential alternativeMandatory use caseBridge asset, transaction feesSettlementsDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Charles Schwab has opened direct trading of Bitcoin (BTC) and Ethereum (ETH) to its approximately 40 million brokerage account holders, expanding its crypto offerings on August 13. The move gives one of the largest US financial institutions’ clients access to leading cryptocurrencies through the same platforms they use for stocks and bonds.
Schwab’s crypto platform detailsThe Schwab Crypto platform allows eligible clients to buy and sell Bitcoin and Ethereum using their existing brokerage interface. The service is currently available in 48 US states, with New York and Louisiana excluded for now. Schwab charges a 0.75% fee on crypto trades, which aligns with rates found across the industry.
Charles Schwab Premier Bank handles custody of client assets for the new crypto service, providing oversight and recordkeeping. Paxos, a blockchain infrastructure company regulated by the Office of the Comptroller of the Currency (OCC), is responsible for sub-custody and trade execution.
Mini dictionary: Paxos is a blockchain infrastructure company that provides crypto brokerage, custody, and settlement services, operating under regulatory oversight from the US Office of the Comptroller of the Currency (OCC).
Jonathan Craig, Head of Retail Investing at Schwab, highlighted new service and research features available to clients trading digital assets alongside traditional investments. He stated that broader financial management and educational resources are intended to make the platform appealing for cryptocurrency investors.
Clients now have access to Bitcoin and Ethereum trading on the same interface as stocks and bonds, with added support, research, and education.
Expansion and future plansSchwab, with over $12 trillion in client assets, initially entered the crypto sector using indirect exposure instruments such as spot Bitcoin and Ether exchange-traded products (ETPs), futures, and related funds. As of May, 39.1 million Schwab retail clients were offered access to crypto trading. The figure has now reached 40 million accounts with the broader rollout.
Joe Vietri, Head of Digital Assets, said Schwab aims to become the primary destination for individual investors looking to include digital assets in their portfolios. The company plans to expand its product range beyond BTC and ETH and eventually enable token transfers from outside wallets and exchanges.
FeatureMay 2026August 2026Accounts eligible for crypto trading39.1 million40 millionTokens supportedBTC, ETHBTC, ETHSupported states48 (excludes NY, LA)48 (excludes NY, LA)Trade fee0.75%0.75%Currently, Schwab clients account for about 20% of all spot crypto ETP holdings, highlighting the firm’s position in the retail crypto market.
Risk messaging and industry contextDespite launching direct crypto trading, Schwab continues to caution investors about the risks of digital assets. A company research report from April found that even a modest 1% to 3% allocation to Bitcoin or Ether can significantly increase a portfolio’s total risk. The firm noted that volatility remains a concern, as both tokens have previously dropped over 70% in some market cycles, and described cryptocurrencies as speculative, high-risk holdings.
Any cryptocurrency allocation is likely to raise portfolio volatility, and there is no single correct level of exposure for every investor.
Schwab’s move matches a broader trend on Wall Street, with institutions such as Morgan Stanley introducing crypto trading on its E-Trade platform and Goldman Sachs seeking regulatory approval to launch a Bitcoin Premium Income ETF. These developments are happening as US lawmakers consider the Digital Asset Market Clarity Act, which would divide oversight of crypto between the SEC and CFTC and establish ground rules for tokens, stablecoins, and decentralized finance (DeFi).
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitcoin ETF zaznamenaly odliv 966 BTC v hodnotě zhruba 61,16 milionu USD, vedený BlackRockem a Fidelity. Současně Ethereum ETF přilákaly 3 920 ETH v hodnotě asi 7,38 milionu USD.
Bitcoin ETFs experienced significant outflows, with a combined sale of 966 BTC valued at approximately $61.16 million. BlackRock, the world’s largest asset manager, and Fidelity, one of the leading American financial services corporations, led these moves with sizable dispositions from their respective funds.
Major BTC outflows by BlackRock and FidelityBlackRock’s ETF sold 227 BTC, translating to a value of $14.34 million. At the same time, Fidelity’s ETF offloaded an even larger amount, disposing of around 739 BTC for $46.82 million. These decisions indicate a possible adjustment in the allocation strategies of both institutions.
The activity marks one of the larger recent outflows from Bitcoin ETFs and has drawn market attention to the actions of these two financial giants. Both institutions are highly influential in shaping investment trends among traditional and crypto-focused investors.
With BlackRock and Fidelity leading substantial Bitcoin sales, the ETF outflows reflect investor caution in current market conditions.
During the period of these outflows, Bitcoin traded near $63,690, and market sentiment remained characterized by uncertainty and caution. Analysts note that such significant ETF sell-offs can create downward pressure on Bitcoin’s price, especially when combined with a risk-averse investor climate.
Ethereum ETFs record inflowsIn contrast to the Bitcoin ETF outflows, Ethereum ETFs saw inflows amounting to 3,920 ETH, valued at roughly $7.38 million. BlackRock participated in this trend by purchasing the same amount of ETH, indicating a possible shift in investor preference from Bitcoin to Ethereum.
With Ethereum trading around $1,890, the increased inflows into Ethereum ETFs suggest that some institutions and investors are reevaluating its prospects, potentially positioning it more favorably amid current market volatility.
This divergent movement between Bitcoin and Ethereum highlights a growing difference in investor confidence and perceived opportunity between the two largest cryptocurrencies by market capitalization.
ETF ProviderAsset Sold (BTC)Value ($ million)Asset Bought (ETH)Value ($ million)BlackRock22714.343,9207.38Fidelity73946.8200Total96661.163,9207.38Market observers continue to monitor these ETF movements, as changes in fund allocations by industry leaders such as BlackRock and Fidelity can influence broader trends among institutional and retail investors alike.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ethereum Foundation ustupuje od Poseidonu a dává přednost SHA a BLAKE3. Důvodem je, že zero-knowledge systémy mezitím výrazně pokročily a tradiční hashe jsou nyní konkurenceschopné.
The Ethereum Foundation is walking back one of its more ambitious cryptographic bets. After spending over a year evaluating the Poseidon hash function as a potential upgrade for base-layer hashing, the foundation is now favoring SHA and BLAKE3, two well-established alternatives with decades of security research behind them.
The reason is almost counterintuitive: the very zero-knowledge proof systems that made Poseidon attractive in the first place have gotten so much better that the exotic hash no longer offers a meaningful edge.
From darling to doubt
Poseidon first entered the conversation as a serious candidate in February 2025, when Vitalik Buterin floated the idea of migrating Ethereum’s base-layer hashing to Poseidon, pointing to its dramatically lower constraint counts inside ZK circuits. In plain terms, Poseidon was designed from the ground up to play nicely with zero-knowledge proofs, making it cheaper and faster to verify computations on-chain.
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The hash function itself dates back to 2021, co-designed by cryptographer Dmitry Khovratovich. Its core selling point was reducing the computational overhead compared to Pedersen hashes, the incumbent in many ZK systems.
The Ethereum Foundation took the idea seriously enough to launch a dedicated Poseidon Cryptanalysis program, offering bounties and prizes totaling up to $1 million. The program, which includes an advisory board and multiple phases, is set to run through December 2026.
Security concerns pile up
By August 2026, the Ethereum Research community had grown increasingly vocal about potential weaknesses in Poseidon. Discussions centered on concerns around preimage attacks, which involve finding an input that produces a specific hash output, and questions about whether certain round configurations were robust enough for a system securing hundreds of billions of dollars in value.
Traditional hashes catch up
When Buterin first championed Poseidon in February 2025, the performance gap between algebraic hashes and traditional ones inside ZK circuits was substantial. But ZK proving systems have improved rapidly. Optimizations in proof generation, hardware acceleration, and circuit design have collectively narrowed the performance difference, making traditional hashes competitive in modern ZK setups while carrying none of the security question marks that come with a five-year-old algebraic hash.
What this means for Ethereum’s roadmap
Sticking with SHA or BLAKE3 carries a practical benefit beyond security: compatibility. These hashes are already widely supported across existing tooling, hardware, and software stacks.
Ethereum’s long-term roadmap includes preparations for post-quantum security. Both SHA-256 and BLAKE3 are considered more straightforward to evaluate in post-quantum security models, partly because their mathematical foundations are better understood.
The $1 million cryptanalysis program will continue running through December 2026, so the door isn’t fully closed on Poseidon. But as of August 2026, momentum has clearly shifted toward SHA and BLAKE3 within the Ethereum Research community.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SharpLink stakuje Ethereum v hodnotě 200 milionů dolarů přes Lido, aby zvýšil výnosy ze své ETH pokladny. Firma za to získá wstETH držené v úschově u Anchorage Digital.
SharpLink said Thursday it will stake $200 million worth of Ethereum through Lido as the company expands its strategy for generating returns from its ETH treasury.
The Nasdaq listed company will receive wrapped staked ETH, or wstETH, representing the staked ETH and its accumulated rewards. The tokens will be held in custody with Anchorage Digital.
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The allocation adds Lido to SharpLink’s existing staking and restaking strategy and allows the company to maintain exposure to ETH staking rewards while retaining access to wstETH across decentralized finance applications.
Lido currently has roughly $16.5 billion worth of ETH staked through its protocol, according to SharpLink. Its wstETH token is integrated with more than 100 protocols and has about $10 billion actively used as collateral.
SharpLink CEO Joseph Chalom said the allocation expands the company’s efforts to make its ETH holdings more productive while maintaining institutional risk standards.
The company said the move is part of a broader effort to maximize the productivity of its Ethereum treasury for shareholders.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Cardano je nově dostupné na Dune Analytics, kde uživatelé získají přístup k governance tabulkám, metrikám staking poolů a dashboardům bez nutnosti psát SQL. Integrace, která byla spuštěna na začátku dubna 2026, zahrnuje i treasury data, transakční a poplatkové metriky, aktivitu smart kontraktů, stablecoin a tokenové toky.
Cardano’s on-chain data is now live on Dune Analytics, giving community members direct access to governance tables, stake pool metrics, and ecosystem dashboards. The integration, which went live in early April 2026, is designed to bring Cardano’s data observability closer to the level enjoyed by ecosystems like Ethereum and Solana.
Nia Whitaker, Dune’s Blockchain Success Manager, announced the rollout and highlighted the launch of a “Cardano Ecosystem Overview” dashboard. The dashboard captures everything from governance snapshots to treasury insights, and critically, none of it requires users to write SQL queries.
What the integration actually covers
The data categories now queryable on Dune span a wide range of Cardano’s on-chain activity. Governance actions, stake pool operator (SPO) data, delegation patterns, transaction and fee metrics, smart contract activity, stablecoin and token flows, and treasury data are all included.
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The integration was launched through Cardano’s Pentad-led Critical Integrations program, a coordinated effort involving the Cardano Foundation, IOG, and EMURGO.
The money behind the data
Approximately 65 million ADA was allocated in earlier phases of the program to fund integrations like this one.
V2 proposals are expected in May 2026 requesting additional funding to cover ongoing costs associated with maintaining and expanding the Dune integration. On-chain governance will determine whether the community approves those follow-up allocations.
Why Dune, and why now
Whitaker joined Dune in January 2025, and her role as Blockchain Success Manager positions her at the intersection of onboarding new chains and ensuring their data is actually useful once it arrives on the platform.
The timing aligns with Cardano’s post-Voltaire governance strategy. Voltaire, the governance-focused era of Cardano’s development roadmap, introduced on-chain voting and treasury management. Putting governance data on Dune lowers the barrier to informed participation. A delegator can now check how their stake pool operator is performing, review active governance proposals, and track treasury flows, all from a single dashboard.
What this changes for the ecosystem
For developers and researchers, having Cardano data on Dune means they can use familiar tools and workflows rather than learning Cardano-specific analytics platforms. For Cardano’s competitive positioning, the integration addresses a persistent criticism that the ecosystem’s data tooling lagged behind peers. Ethereum has had deep Dune integration for years, with thousands of community-created dashboards. Solana’s Dune presence expanded significantly as its ecosystem grew.
The May 2026 V2 funding proposals will serve as an early test of whether the community values continued investment in data infrastructure enough to approve additional ADA allocations.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Cardano splnilo klíčový milník pro spotové ETF po šesti měsících regulovaného obchodování ADA futures na CME. Zároveň komunita schválila 120 milionů ADA prostřednictvím návrhu Cardano PRIME na podporu růstu DeFi.
TLDR ADA price trades near $0.1856, about 11.91% below its recent high of $0.2107. Cardano reached a key spot ETF eligibility milestone after six months of regulated ADA futures trading on CME. Grayscale withdrew its Cardano ETF filing, but other asset managers could still pursue ADA-focused ETF applications. Cardano’s DeFi expansion received 120 million ADA through the approved Cardano PRIME proposal. Leios and Hydra upgrades aim to increase Cardano’s transaction capacity while maintaining network security. Cardano is expanding interoperability through a testnet IBC connection with Injective. Cardano investors remain focused on new network developments as the ADA price trades near $0.1856 after a recent correction. ADA fell about 11.91% from last week’s high of $0.2107. Despite the pullback, attention has shifted to ETF eligibility, DeFi activity, scaling upgrades, interoperability, and Bitcoin integration.
ADA Price Faces Pressure as ETF Eligibility Improves Cardano reached an important ETF-related milestone on August 9, 2026. CME Group launched regulated ADA futures on February 9, giving the token six months of futures trading under a regulated U.S. market structure.
Grayscale withdrew its S-1 filing for a Cardano ETF last week. However, ADA still met a key condition linked to the SEC’s streamlined spot ETF review process. This could leave room for other asset managers to submit Cardano-focused ETF applications.
Cardano is also extending its reach through interoperability. A testnet connection with Injective uses an on-chain IBC rail that allows users to transfer ADA to Injective and move INJ back to Cardano.
The network’s DeFi push also gained support after the community approved AlphaGrowth’s Cardano PRIME proposal. The plan allocates 120 million ADA to support DeFi growth. Cardano’s RealFi testing phase has also recorded more than 3,000 active wallets and over 36,000 on-chain actions.
Leios and Hydra Target Higher Network Capacity Cardano developers continue work on Ouroboros Leios and Hydra. Both projects aim to increase transaction capacity while keeping Cardano’s base-layer security and decentralization model in place.
Leios is expected to reach mainnet this year, while Hydra does not yet have a confirmed launch date. These upgrades form part of Cardano’s effort to handle more network activity as its DeFi and cross-chain services expand.
Bitcoin Bridge Adds Another Cardano Catalyst Cardano is also developing a Bitcoin DeFi link through a BitVM-powered bridge. Charles Hoskinson recently reported major efficiency gains in the bridge’s testing process.
According to the update, data requirements fell from 40 GiB to 0.0281 GB. Execution time dropped from 354 seconds to 0.149 seconds, while costs declined from $14,211 to $37 using the mainnet proof.
The ADA price remains below last week’s high, but Cardano investors continue tracking these network changes. ETF eligibility, DeFi funding, scaling tools, interoperability, and Bitcoin integration now remain key areas to watch in the coming months.
Michael Saylor představil nový finanční model Digital Finance Stack, v němž má USDT sloužit jako hlavní transakční brána a Bitcoin jako „těžký“ digitální kapitál. Strategy tak chce propojit Bitcoin s finančními nástroji pro platby a úvěry.
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Strategy chairman Michael Saylor, who had championed uncompromising Bitcoin maximalism for years, has made an unexpected compromise with the fiat world. The entrepreneur unveiled the concept of a multi-layered Digital Finance Stack, in which the USDT stablecoin has, for the first time, been officially designated as the ecosystem's primary transactional gateway.
The new architecture clearly distributes assets across the monetary spectrum: from volatile Bitcoin on the left flank to stable fiat payment instruments on the right.
How Saylor plans to supercharge Bitcoin with USDTWithin this framework, Bitcoin is assigned exclusively the role of "heavy" digital capital and the ultimate defensive asset. To directly address Bitcoin's limited transactional utility, the largest corporate holder of the cryptocurrency has unexpectedly integrated Tether's USDT into the model.
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This zero-volatility instrument is intended to fully meet the market's need for fast, everyday payments.
Michael Saylor's Bitcoin-centered Digital Capital framework, Source: Michael Saylor via X.comServing as a bridge between them are new structured financial-engineering products developed by Strategy itself. These include STRC, a semi-stable, fixed-income credit instrument represented by the company's Bitcoin-backed preferred stock, and SR-strcUSX, a hybrid token created for the sole purpose of combining the stability of fiat currency with debt-market yields.
The top layer of this system is Digital Equity, which connects all levels of the framework into a single business.
You can live on Bitcoin. You can also build on it. Crude oil is valuable, but civilization gets more utility by refining it into gasoline, jet fuel, plastics, lubricants, and asphalt. Bitcoin is Digital Capital. Innovation turns capital into credit, money, and currency.
— Michael Saylor (@saylor) August 13, 2026 Under Saylor's vision, fintech companies will be able to earn revenue by managing these payment and credit instruments, while investors will receive a share of their earnings by purchasing equity.
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Saylor's theoretical framework has emerged at a moment of severe stress testing for Strategy's actual balance sheet. The company's latest reports showed that it had broken its "never sell" rule, liquidating 6,948 BTC worth $432.5 million this summer to pay dividends and maintain liquidity. The sale came as the STRC preferred stock was trading below its $100 par value.
Although CEO Phong Le said this week that Strategy expects to return to net Bitcoin purchases by the end of 2026, Saylor's new concept clearly shows that the company is attempting to transform its massive reserve of 840,447 BTC from a passive and volatile burden into an active commercial fintech instrument.
Tether oznámil dokončení plného nezávislého auditu za rok 2025 od KPMG U.S., která vydala výrok bez výhrad. Audit potvrdil, že rezervy převyšují závazky o 6,814 miliardy USD.
KPMG U.S. issues unqualified audit opinion on Tether’s 2025 financial statements – the most positive form of opinion an independent auditor can issue
13 August 2026 – Tether, the largest company in the digital asset industry, today announced the successful completion of a full independent audit of Tether International, S.A. de C.V.’s financial statements for the year ended December 31, 2025, conducted by KPMG U.S. The audit, completed in accordance with applicable professional standards, represents one of the most significant milestones in Tether’s history, it is also the largest inaugural financial audit in history. Completed at a scale and within the highest standards, it establishes a new benchmark for financial scrutiny across the stablecoin market.
KPMG issued an unqualified audit opinion of Tether’s financial statements, meaning in KPMG’s opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025, and the results of its operations and its cash flows for the year ended in accordance with U.S. generally accepted accounting principles. The audit complements Tether’s existing quarterly reserve reporting, examining the transactions, systems, ownership records, valuations, counterparties, and underlying evidence supporting the Company’s financial statements. An unqualified opinion – meaning an opinion issued without reservations, exceptions, or caveats – is the most positive form of opinion that an independent auditor can issue.
As part of the process, KPMG physically counted and inspected every individual gold bar held by Tether, verifying the existence and identifying information of each bar rather than relying solely on reports from custodians or counterparties. Rigor was also applied across the entirety of Tether’s financial statements – the full balance sheet, including the assets composing the reserves and the liabilities represented by the issued token, as well as the income statement, change of equity, and cash flows statements. Each area was subject to independent substantive testing and verification.
“This is a defining moment for the stablecoin industry,” said Paolo Ardoino, CEO of Tether. “For years, some detractors said an audit of Tether could not be completed. They said the Company refused to subject itself to the most rigorous scrutiny. We have once again proven them wrong. Completing our financial statement audit sets a new standard for the industry and reflects the leadership we’ve brought to this market from the start.”
“KPMG did not simply review a set of headline figures,” Ardoino continued. “KPMG conducted a full and thorough audit in accordance with AICPA standards – examining the assets, transactions, systems, documentation, and other evidence supporting our financial statements. The result is an unqualified opinion; in other words, it means Tether has a clean audit.”
“This is a landmark moment for Tether and for the industry we serve – a milestone in Tether’s commitment to transparency,” said Simon McWilliams, Chief Financial Officer of Tether. “We subjected our financial statements to the scrutiny of a Big Four audit, one of the most ambitious projects in the Company’s history, and completed it with the highest priority following the announcement of our signing with a Big Four auditor. This was our Finance team stepping into the highest league and leading in it. We hold ourselves to the standards seen at the world’s leading companies – and we will keep raising them over time. Tether’s audited financial statements for the year ended 31 December 2025 report reserves exceeding the liabilities by $6.814 billion, confirming the quality of the public attestation reports.”
Tether has provided regular independent attestations of the assets backing its issued tokens for years. The completion of a financial statement audit represents a fundamental step forward in the Company’s financial reporting and the fulfillment of one of its longest-held commitments.
The achievement also carries implications beyond Tether. Stablecoins have become an increasingly important component of global financial infrastructure, supporting savings, payments, remittances, trading, and access to U.S. dollars for hundreds of millions of people.
As their role grows, the financial governance and independent scrutiny applied to stablecoin issuers must grow with them. By voluntarily subjecting its complete financial statements to this level of examination, Tether is setting a higher standard for accountability across the market.
“People may describe this as the end of a long journey, but we see it as the beginning of the next one,” Ardoino said. “Tether has evolved from a disruptive stablecoin issuer into one of the most financially significant and operationally sophisticated private companies in the world. This audit demonstrates that our financial infrastructure and governance have evolved alongside that responsibility. Today, more than 650 million users across all emerging markets continue to rely on Tether daily, choosing USD₮ as their currency, for their life savings, for their commerce, for the future of their children. These are people who have been left behind by the traditional financial system, and they trust our Company to remain resilient amidst all the global uncertainty that plagues the world – the proof of that stability is no longer just a Tether promise; it’s a signed opinion.”
Avient ve 2. čtvrtletí zvýšil upravený EPS o 20 % na 96 centů a tržby o 5,8 % na 917 mil. USD. Zvedl také celoroční výhled upraveného EPS na 3,10–3,25 USD.
Key Takeaways Avient's Q2 adjusted EPS rose 20% to 96 cents as sales increased 5.8% to $917 million.Organic sales grew 4.3%, while adjusted EBITDA margin expanded 110 basis points to a record 18.3%.AVNT raised 2026 adjusted EPS guidance to $3.10-$3.25 and EBITDA guidance to $575-$603 million. Avient Corporation (AVNT - Free Report) reported adjusted earnings of 96 cents per share for the second quarter of 2026, up 20% from 80 cents a year ago. The bottom line beat the Zacks Consensus Estimate of 89 cents by 7.9%. Better-than-expected organic volume growth aided the outperformance.
Sales increased 5.8% year over year to $917 million and beat the Zacks Consensus Estimate of $895.3 million by 2.4%. Organic sales rose 4.3%, while favorable foreign exchange contributed 1.5%. Adjusted EBITDA margin expanded 110 basis points to a record 18.3%.
Segment HighlightsColor, Additives and Inks sales increased 6.6% year over year to $574.2 million from $538.6 million. Segment EBITDA rose 10.5% to $124.5 million from $112.7 million. The segment’s EBITDA margin improved to approximately 21.7% from 20.9% in the year-ago quarter.
Specialty Engineered Materials generated sales of $343.9 million, up 4.3% from $329.7 million a year earlier. Segment EBITDA climbed 21.1% to $75.8 million from $62.6 million. EBITDA margin expanded to approximately 22% from 19%, indicating significant profitability improvement in the segment.
FinancialsAvient ended the second quarter with cash and cash equivalents of $425.6 million. Total debt was approximately $1.88 billion. For the first six months of 2026, net cash provided by operating activities was $59.3 million. Capital expenditures were $41.3 million. Management expects cash generation to support both growth investments and further balance-sheet improvement.
OutlookAvient raised its full-year 2026 adjusted earnings guidance to $3.10-$3.25 per share from the previous range of $2.93-$3.17. The revised range implies adjusted earnings growth of 10-15% over 2025. Management cited year-to-date performance and visibility into third-quarter demand in raising its expectations.
The company also increased its full-year adjusted EBITDA guidance to $575-$603 million. AVNT expects to repay $100-$150 million of debt during 2026, including the $50 million repaid in the second quarter. Management remains focused on targeted investments in prioritized growth portfolios while pursuing continued earnings growth and balance-sheet improvement.
AVNT’s Price PerformanceShares of Avient have gained 25.5% in the past year against the 4.3% growth in the industry.
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AVNT’s Zacks Rank & Other Chemicals ReleasesAVNT currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ashland Inc.’s (ASH - Free Report) adjusted earnings were $1.02 per share for the fiscal third quarter, down around 2% from the year-ago quarter’s figure of $1.04. The bottom line missed the Zacks Consensus Estimate of $1.03. For fiscal 2026, Ashland reaffirmed sales guidance of $1.835-$1.870 billion and adjusted EBITDA outlook of $385-$400 million.
Huntsman Corporation (HUN - Free Report) posted break-even earnings per share on an adjusted basis for the second quarter compared with a loss of 20 cents in the year-ago quarter. The Zacks Consensus Estimate of earnings was pegged at 6 cents per share. HUN expects to remain focused on additional price increases and cost-reduction initiatives to offset rising and volatile energy and crude oil-related costs, particularly in Europe.
Olin Corporation’s (OLN - Free Report) second-quarter adjusted earnings were 7 cents per share, in line with the Zacks Consensus Estimate. For the third quarter, Olin expects adjusted EBITDA in the range of $160 million to $200 million. OLN expects its Chemical businesses’ results to be comparable with second-quarter levels as lower operating rates at the Freeport vinyl chloride monomer facility and weaker ethylene dichloride pricing offset anticipated stronger caustic soda volumes.
EMCOR zvýšil výhled tržeb pro rok 2026 na 20–20,5 miliardy USD poté, co RPO dosáhly rekordu 17,14 miliardy USD, což je meziročně o 44 % více. Ve 2. čtvrtletí tržby stouply o 19,8 % na 5,15 miliardy USD.
Key Takeaways EMCOR's RPOs rose 44% year over year to a record $17.14 billion at the end of Q2.Data center demand and AI infrastructure spending helped drive strong Network and communications growth.EMCOR raised 2026 revenue guidance to $20-$20.5 billion as its RPO base continues to expand. EMCOR Group, Inc. (EME - Free Report) has built a sizeable contracted revenue base as demand for data centers, infrastructure and other complex projects remains strong. Record RPOs of $17.14 billion at the end of the second quarter, up 44% year over year and 10% sequentially, point to a larger pool of work that can be converted into revenues over time. About 95% of the increase was organic, indicating that the expansion was driven largely by new business rather than acquisitions.
Data center activity remains a major contributor to this growth. Network and communications generated the largest revenue increase during the quarter, supported by customer spending on AI infrastructure and digital transformation. At the same time, RPO gains across water and wastewater, health care and institutional markets provide additional sources of contracted work.
The scale of the RPO base also changes the timing of revenue conversion. Historically, about 85% of RPOs were completed within 12 months. That figure has moved to roughly 75-76%, partly because of larger projects and the higher volume of recent bookings. The longer duration could spread revenue recognition over a wider period while extending visibility beyond the current year.
Against this backdrop, second-quarter revenues increased 19.8% to $5.15 billion, and the company raised 2026 revenue guidance to $20-$20.5 billion. A growing RPO base, combined with broad-based bookings, gives EMCOR a substantial amount of contracted work to support revenue growth in the periods ahead.
EMCOR and Its Key Infrastructure CompetitorsEMCOR competes closely with MasTec, Inc. (MTZ - Free Report) and Quanta Services (PWR - Free Report) across electrical, mechanical and infrastructure construction. Both companies maintain sizable order books, providing visibility into future revenues and reflecting strong demand across key end markets.
MasTec reported a record backlog of $21.4 billion in the second quarter, up 30% year over year and 5% sequentially. The company recorded a book-to-bill ratio of 1.2x, led by Pipeline Infrastructure and Clean Energy & Infrastructure. Power Delivery, Pipeline Infrastructure and Clean Energy & Infrastructure benefited from demand for grid modernization, power generation, renewables, natural gas and data centers. Clean Energy & Infrastructure revenues increased 43%, while segment backlog rose $500 million sequentially with a 1.3x book-to-bill ratio.
Quanta reported a record backlog of approximately $53.4 billion in the second quarter, up about 49% year over year from $35.8 billion. The backlog reflects demand across utility, generation and technology load center markets. Larger programs and multiyear commitments are also emerging across these markets, which could support revenues over an extended period. Recent acquisitions have added capabilities in electrical, mechanical, civil and fabrication services, further expanding the company’s addressable market.
Both MasTec and Quanta offer strong revenue visibility through sizable order books. MasTec benefits from diversified infrastructure demand across power, renewables and data centers, while Quanta’s backlog is supported by utility, generation and technology load center projects.
EME Stock’s Price Performance & Valuation TrendShares of this Connecticut-based infrastructure service provider have gained 36.2% year to date, outperforming the Zacks Building Products - Heavy Construction industry, the Zacks Construction sector and the S&P 500 Index.
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EME stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 24.16, as evidenced by the chart below.
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Earnings Estimate Revision of EMEEME’s earnings estimates for 2026 and 2027 have moved upward in the past seven days to $33.04 and $37.13 per share. The revised estimates for 2026 and 2027 imply year-over-year growth of 27.7% and 12.4%, respectively.
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EMCOR currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Pennsylvania American Water dokončila koupi kanalizačního systému SSMSA za 3,25 milionu USD a plánuje do něj investovat asi 700 tisíc USD během pěti let. Pro zákazníky s průměrnou spotřebou to znamená nižší měsíční účty.
Acquisition delivers lower average rates and long-term infrastructure upgrades
, /PRNewswire/ -- Pennsylvania American Water today completed its acquisition of the Sutersville-Sewickley Municipal Sewage Authority (SSMSA) wastewater system for $3.25 million. The newly acquired wastewater system serves approximately 500 customer connections in Sutersville Borough and Sewickley Township, Westmoreland County.
"Pennsylvania American Water is pleased to welcome Westmoreland County residents as new wastewater customers," said Pennsylvania American Water President Justin Ladner. "We look forward to providing these communities with safe, reliable wastewater service by delivering on our technical expertise and extensive wastewater experience."
As part of the agreement, Pennsylvania American Water plans to invest approximately $700,000 in improvements to the SSMSA system to improve the quality and reliability of service over the next five years of ownership. The company has a long and successful track record of providing solutions for water and wastewater systems facing significant capital investment needs and making the necessary and continued investments to meet current and future regulatory requirements. Learn more at pennsylvaniaamwater.com/infrastructure.
"Three and a half years ago, the Sutersville-Sewickley Municipal Sewage Authority welcomed a new board as the members who had overseen the system for more than 20 years stepped down. After evaluating all available options, the board determined that Pennsylvania American Water was best positioned to operate, maintain and invest in the system for the benefit of our customers," said SSMSA Chairman Bruce Riley. "Both the Borough of Sutersville and Sewickley Township have supported the decision to sell the system to Pennsylvania American Water."
SSMSA's decision in May 2025 to sell its wastewater system to Pennsylvania American Water was made with customers in mind. The Pennsylvania Public Utility Commission (PUC) approved the acquisition on March 26, 2026. Prior to the acquisition, SSMSA aligned its rates with the Pennsylvania American Water rates in effect at that time, which results in a lower monthly bill for customers with average household usage. As the PUC regulates the company's rates and service rules, any future changes to rates must be reviewed and approved by the PUC.
Pennsylvania American Water offers several customer assistance programs, including its longstanding H2O Help to Others Program™, which provides income-eligible customers with grants of up to $500 per year, significant discounts on monthly bills, arrearage forgiveness and water-saving devices and education.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 19 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About Pennsylvania American Water
Pennsylvania American Water, a subsidiary of American Water, is the largest regulated water utility in the state with approximately 1,200 dedicated employees working to provide safe, clean, reliable and affordable water and wastewater services to approximately 2.5 million people.
Lenovo zveřejnilo silné výsledky za čtvrtletí: tržby vzrostly o 43 % na 26,94 miliardy USD a čistý upravený zisk o 176 % na 1,1 miliardy USD. Akcie výrobců serverů a počítačů na to reagují růstem.
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Shares of AI server and PC hardware makers are rallying at midday Thursday. Super Micro Computer (NASDAQ:SMCI | SMCI Price Prediction) leads the group, up 10% to $41. Dell Technologies (NYSE:DELL) is tracking toward $500 for the first time, up 3%. Hewlett Packard Enterprise (NYSE:HPE) is higher by 5%, and HP Inc. (NYSE:HPQ) has added 3%.
Lenovo Earnings Fuel a Read-Through Rally
The catalyst for today’s moves across server companies is a blowout quarter from Chinese peer Lenovo. For the April to June period, Lenovo reported revenue of $26.94 billion, up 43% year over year, versus Wall Street expectations of $22.44 billion. Adjusted net income rose 176% year over year to $1.1 billion, topping the $1 billion mark for the first time.
AI-related revenue climbed 60% to $9.3 billion, accounting for 35% of total revenue. The number investors zeroed in on: the AI server pipeline surged to $54 billion, up 157% sequentially.
CEO Yuanqing Yang said AI is emerging as a clear growth engine across every business group. Because Lenovo competes directly with every name on this list, a beat of that magnitude signals genuine end-market demand across the group. Strength spanned AI infrastructure and PCs, which is why the move reaches HPQ as well as the server names. Lenovo trades in Hong Kong and is not a US-listed idea. Its 215% year to date move on the LNVGY ADR shows how the market is repricing this cycle.
Super Micro Extends Its Post-Earnings Run
Super Micro is layering the Lenovo read-through onto its own guide. On Aug. 11, the company reported Q4 FY26 revenue of $11.12 billion (up 93.2% YoY) and non-GAAP EPS of $1.70, with gross margin expanding to 17.5%. CEO Charles Liang cited more than $60 billion in new orders and a record backlog. The headline number for Wall Street was FY27 revenue guidance of $65 billion to $72 billion, versus Wall Street expectations of $53.3 billion. Analyst reaction has been mixed, with several notes flagging margin volatility even as the top-line guide reset the trajectory.
Dell, HPE, and HPQ: One Catalyst, Three Very Different Businesses
Dell’s Q1 FY27 posted revenue of $43.84 billion (up 87.5% YoY) with AI-optimized server revenue of $16.13 billion (up 757% YoY) and FY27 revenue guided to $165B to $169B.
HPE is the enterprise server, storage, and networking play. Its Q2 FY26 delivered revenue of $10.68 billion (up 40% YoY), with Networking at $2.69 billion (up 148.2% YoY) on the Juniper integration. HPQ is the PC and printing side, where Q2 FY26 revenue rose 9% to $14.41 billion and management raised FY26 non-GAAP EPS guidance to $2.90-$3.10.
Lenovo’s beat validates both the AI infrastructure side and the PC refresh side.
Group Scorecard
Ticker
Today
YTD
SMCI
10%
28%
DELL
3%
288%
HPE
5%
147%
HPQ
3%
35%
The year-to-date dispersion tells the story. The market is paying up for direct AI server exposure (Dell, HPE) and rewarding PC exposure (HPQ) at a much more modest multiple. Morgan Stanley on Thursday upgraded its US IT hardware industry view to In-Line from Cautious, citing refresh, pull-forward, and AI demand. Goldman Sachs has named Dell, HPE and NetApp as top US hardware stocks amid surging AI demand.
Super Micro has lagged peers as accounting issues dogged the company, so it will be interesting to see if this latest quarter provides an inflection point for the company’s shares.
The Risks Investors Should Not Ignore
These gains sit on top of enormous year-to-date runs. Component and memory cost inflation is a live margin threat for every server builder, the same pressure that pinched Cisco’s gross margin this week. A pipeline still has to convert to revenue. And one competitor’s quarter is one data point. Super Micro’s board is still conducting an independent review of export-control transactions, and FY26 operating cash flow was negative $(6.8) billion on working capital build.
What to Watch
Keep an eye on whether Dell holds the $500 handle into the close and whether Super Micro’s multi-day run finds a natural pause after today’s spike. As noted earlier, Super Micro is the biggest question mark in this group. It has lagged its peers due to accounting issues, but could rally if the market believes those are largely behind the company and Super Micro can ride massive AI-driven server growth.
Contact [email protected] for any questions or corrections.
Super Micro roste po zprávě o rekordním backlogu a více než 60 miliardách USD nových objednávek ve fiskálním roce 2026. Firma zároveň čeká tržby ve fiskálním roce 2027 až 72 miliard USD.
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Super Micro Computer (NASDAQ:SMCI | SMCI Price Prediction) shares are rising 6% to $40 midday Thursday, extending a rally that began after Tuesday afternoon’s fiscal Q4 report. Peer AI server names are climbing alongside it, with Dell Technologies (NYSE:DELL) stock up 3% to $498 and Hewlett Packard Enterprise (NYSE:HPE) shares gaining 3% to $60.50.
The iShares U.S. Technology ETF (NYSEARCA:IYW) is up 1.43% to $256.70, a comparatively muted move because the AI-server trio don’t have an outsized influence inside a fund dominated by mega-caps. This is day two of the AI server rally, and today’s continuation is driven by external read-across, not a fresh Super Micro catalyst.
Lenovo Earnings and Analyst Calls Extend the Rally
Hong Kong-listed Lenovo reported April-June revenue up 43% year over year to $26.94 billion, well ahead of the $22.44 billion consensus. The company’s adjusted net income jumped 176% to $1.1 billion, with the AI server pipeline swelling to $54 billion, up 157% sequentially.
CEO Yuanqing Yang stated that AI is emerging as a clear growth engine across every business group. Because Lenovo competes directly with Dell and Hewlett Packard Enterprise, the read-across is lifting the entire sector.
Morgan Stanley also upgraded its U.S. IT hardware industry view to In-Line from Cautious, citing refresh cycles, pull-forwards, and AI demand. Goldman Sachs separately named Dell, Hewlett Packard Enterprise, and NetApp (NASDAQ:NTAP) its top U.S. hardware picks. Morningstar declared of Dell, “If AI demand is truly durable, the cyclicality of the business will be reduced, and Dell’s valuation is quite attractive.”
The Super Micro Numbers Behind the Setup
Super Micro Computer reported fiscal Q4 revenue of $11.12 billion, up 93.2% year over year, a touch shy of the roughly $11.2 billion projected. Adjusted EPS came in at $1.70 versus $1.59 expected, and gross margin recovered to 17.5% from 9.5% a year earlier.
CEO Charles Liang credited “a richer enterprise customer mix and broader adoption of our optimized Data Center Building Block Solutions.” The company disclosed record backlog entering fiscal 2027 and more than $60 billion in fiscal 2026 new orders. Super Micro Computer’s guidance is what caught the market’s attention: Q1 FY2027 sales of $14.5 billion to $15.5 billion versus roughly $11.9 billion expected, and full-year FY2027 revenue of $65 billion to $72 billion versus roughly $53.3 billion expected.
The risks are real. Super Micro Computer’s full-year operating cash flow was negative $6.8 billion on a working capital build, and the board is running an independent review of export-control transactions. Results remain preliminary and unaudited.
Valuation Debate Puts Super Micro in the Spotlight
On a trailing 12-month (TTM) basis, Super Micro Computer stock trades at a P/E ratio of 21.03x, versus 39.54x for Dell stock and 56.76x for Hewlett Packard Enterprise stock. That gap is fueling retail chatter, with the Super Micro community actively debating a possible short squeeze and a valuation re-rating. A lower multiple reflects the market’s doubts as much as any opportunity, so treat that as speculation, not a catalyst.
Retail sentiment on Stocktwits is extremely bullish on Dell and Hewlett Packard Enterprise with extremely high message volume. Analyst coverage tilts constructive, with 19 of 27 analysts rating Dell stock Buy or Strong Buy, and 13 of 22 holding a positive view on Hewlett Packard Enterprise stock, per Koyfin.
ETF Reaction and What to Watch
The iShares U.S. Technology ETF holds all three names, but the weights are minimal. Per its April 30, 2026 disclosure, Dell sits at 0.4% of net assets, Hewlett Packard Enterprise at 0.2%, and Super Micro Computer at 0.1%.
NVIDIA (NASDAQ:NVDA) alone comprises 16.2%, with the balance concentrated in a handful of other mega-cap technology names. Investors buying the ETF for AI server exposure get very little of it, and the concentration risk in a few giants is worth flagging.
Investors can watch for whether Super Micro Computer’s Q1 FY2027 revenue lands inside the $14.5 billion to $15.5 billion guide, whether operating cash flow normalizes as backlog converts, and whether the export-control review closes cleanly.
The next anticipated indicator for the sector could be whether Dell stock can clear $500 as the AI server read-across continues. If it does, the group’s momentum has room to run into next week’s trading; if it stalls, expect the valuation debate around Super Micro Computer to intensify.
Contact [email protected] for any questions or corrections.
Společnost Harbor spustila pět aktivně řízených ETF zaměřených na AI ekosystémy kolem OpenAI, Anthropic, Google, Meta a SpaceX. Fondy investují alespoň 80 % čistých aktiv do akcií souvisejících s těmito ekosystémy.
As the artificial intelligence (AI) race reshapes global markets, investors are looking beyond single-stock concentration and shifting focus toward the broader global supply chains powering the revolution. On August 13, Harbor Capital launched five actively managed ETFs targeting companies that are positioned to benefit from the growth of key AI ecosystems relating to OpenAI, Anthropic, Google (GOOGL), Meta (META), and SpaceX (SPCX). The funds launch with an expense ratio of 59 basis points.
Key Takeaways
Harbor launched five actively managed ETFs targeting the broader AI supply chains and global ecosystems. This includes top tech names like OpenAI, Anthropic, Google, Meta, and SpaceX.
The funds use a proprietary scoring system that analyzes data sources such as company filings, earnings transcripts, and market data. They seek to identify and weight companies based on their economic connection to a specific AI ecosystem.
ETFs like the Anthropic AI Lab Ecosystem ETF (ANTW) provide a unique vehicle to access growth in privately held AI leaders. These funds allow investors to capture the momentum of private innovation through the public companies that support and benefit from those ecosystems.
Harbor AI Labs Suite
Google DeepMind AI Lab Ecosystem ETF (DEPW)
Meta AI Lab Ecosystem ETF (MTAW)
SpaceXAI Lab Ecosystem ETF (XAIW)
OpenAI Lab Ecosystem ETF (OAIW)
Anthropic AI Lab Ecosystem ETF (ANTW)
“I believe 2026 is the year AI migrated from a major theme to its own asset class. The marketplace and investors are demanding different tools to get more precise exposures to distinct parts of the AI asset class. The Harbor AI Lab Ecosystem ETFs sit at the very top of that pyramid. It offers differentiated exposures to each AI Lab ecosystem. We think of these as modern sector funds built for the AI Economy that we now all live in,” said Kristof Gleich, president and chief investment officer, Harbor Capital Advisors, in a press release.
The AI Ecosystem Approach
Advisors use this data to score companies on their economic ties to each AI ecosystem. To isolate these interconnected AI ecosystems, the funds use a proprietary investment process. They evaluate the economic relationship between companies and their respective AI ecosystems using a range of data sources. Those sources include company filings, earnings call transcripts, news, and market data.
Each company’s score will be the primary determinant of its selection and weighting in the portfolio. The funds’ holdings will include companies involved in software, infrastructure, cybersecurity, and other businesses that support or benefit from the development and adoption of the related AI ecosystem.
Each fund invests at least 80% of net assets in equity securities of the respective AI ecosystem across U.S. and international markets. The funds will concentrate over 25% of assets on core industries spanning IT, communication services, industrials, consumer discretionary, and utilities.
The product suite combines both public tech giants and privately held AI leaders. On the public side, the Google DeepMind AI Lab Ecosystem ETF (DEPW), the Meta AI Lab Ecosystem ETF (MTAW), and the SpaceXAI Lab Ecosystem ETF (XAIW) offer exposure to the companies benefiting from the AI growth of these specific public tech giants. On the private side, the OpenAI Lab Ecosystem ETF (OAIW) and the Anthropic AI Lab Ecosystem ETF (ANTW) provide targeted access to the public traded partners, suppliers, and infrastructure providers positioned to benefit from the expansion of these non-public titans.
Inside the AI Ecosystems
For publicly traded AI leaders, the parent company serves as the anchor holding. However, the real engine of these portfolios is the targeted web of suppliers, hardware partners, and power providers filling out the top allocations right below them.
DEPW holds Google as its top holding at 19.9% of assets, with Broadcom (AVGO) and NextEra Energy (NEE) serving as the next largest allocations. Broadcom is included in the fund for its partnership with Google to co-develop and manufacture Tensor Processing Units (TPU). The TPUs are custom AI chips used by Google to train and run large AI models for Google Deepmind. NextEra Energy is a 6.0% weight in the fund for its partnership with Google to co-develop data centers. This is paired with the development of new dedicated power generation to handle massive AI workloads.
Meta and SpaceX
Meta is a 19.2% weight in MTAW. The fund’s next largest holdings are Nebius Group (NBIS) at 8.1% of assets and Corning Inc (GLW) at 7.4%. Nebius is included in the fund for its multi-year infrastructure supply agreement with Meta. Under this partnership, Nebius acts as a specialized AI cloud provider. It builds and supplies the heavy computing power needed to train and run Meta AI models. Meanwhile, Corning supplies the advanced fiber optic cable that physically link Meta’s specialized AI servers and data centers.
Looking at XAIW, SpaceX makes up 22.0% of total assets, followed by Nvidia (NVDA) at 8.7% and Super Micro Computer (SMCI) at 6.0%. Nvidia is connected to SpaceX’s AI ecosystem through a partnership to use Nvidia GPUs and systems for its AI needs such as the development of orbital AI data centers. Super Micro Computer is a large holding in XAIW for its role as an infrastructure supplier. The company provides SpaceX with high-performance server racks and liquid-cooling data center systems.
Bridging Private Innovation and Public Markets
Public funds like DEPW, MTAW, and XAIW use their parent companies as portfolio anchors. However, the dynamic changes entirely when turning to non-public titans like OpenAI and Anthropic. The top allocations in OAIW include SoftBank Group (9984) at 9.7% of assets and Oracle (ORCL) at 7.9%. Softbank is a top holding in OAIW for its large investments in OpenAI. In February, the Japanese investment firm announced its total investment in OpenAI will total $64.6 billion. This would secure roughly a 13% ownership of OpenAI, according to the SoftBank announcement. Oracle is a large allocation in OAIW through a massive cloud infrastructure and cloud computing power partnership to help run and train OpenAI’s advanced models.
TeraWulf (WULF) and Google are top holdings in ANTW, with weights of 10.3% and 9.2% respectively. TeraWulf is the fund’s top holding for its massive 20-year AI infrastructure lease agreement. Under this deal, TeraWulf provides the data center capacity to power Anthropics high-performance computing workloads. Google earned its spot in the fund through its substantial minority stake in Anthropic. Anthropic relies heavily on Google’s TPU chips to power its frontier AI models.
Changing the Thematic ETF Landscape
The launch of these funds represents the evolving landscape of thematic ETFs. While investors can already buy shares of public tech leaders like Google, Meta, and SpaceX directly, it only provides exposure to broad corporate operations outside of pure-play AI development. These ETFS address that dilution by shifting the focus from the parent companies to the firms correlated with the success of the respective AI ecosystems.
For privately held AI leaders like OpenAI and Anthropic, the strategy helps to bridge the gap between private innovation and public liquidity. By investing in the public beneficiaries of these private firms, the ETFs enable investors to participate in non-public AI growth without needing illiquid private investments or waiting for an IPO.
For more news, information, and analysis, visit VettaFi | ETF Trends.
Key Takeaways TransUnion shares gained 15.3% in three months as Q2 revenues rose 14.9% and adjusted earnings climbed 13.9%.TransUnion raised 2026 revenue guidance to $5.127-$5.162B and adjusted EPS guidance to $4.75-$4.83.TransUnion ended June with $5.59B in debt, while its adjusted EBITDA margin fell 90 basis points to 34.8%.
TransUnion (TRU - Free Report) shares have gained 15.3% over the past three months, drawing attention to whether the rebound can extend. Better earnings, rising revenues and faster international growth give investors several operating signals to assess.
Management also raised its 2026 outlook after a stronger first half. The counterweight is a debt-heavy balance sheet and a second-quarter margin decline, leaving the next leg of the rally dependent on continued execution.
TRU’s 15.3% Rally Follows Stronger Operating MomentumThe share advance has coincided with broader operating momentum. In the second quarter of 2026, U.S. Markets revenues rose 11% year over year, while International revenues increased 27%, helped by the Trans Union de Mexico acquisition.
Adjusted EBITDA increased 12% to $456.1 million, and International organic constant-currency revenue growth accelerated to 6% from flat growth in the first quarter. Those trends can help explain improved investor sentiment, but they do not establish that operating results directly caused the stock’s move.
TransUnion’s Q2 Beat Adds Support to the MoveTransUnion reported adjusted earnings of $1.23 per share for the second quarter, up 13.9% year over year and 7.9% above the Zacks Consensus Estimate. Revenues increased 14.9% to $1.31 billion and beat the consensus mark by 1.7%.
Organic constant-currency revenues grew 10%, showing that growth extended beyond acquisition contributions. Financial Services revenues rose 18% to $496.3 million, while Emerging Verticals revenues increased 9% to $353.9 million.
TRU’s Raised Outlook Tests the Rally’s Staying PowerTransUnion raised its 2026 revenue guidance to $5.127-$5.162 billion, implying reported growth of 12-13%. Organic constant-currency growth remains projected at 8-9%.
The company also increased adjusted earnings guidance to $4.75-$4.83 per share from $4.68-$4.75. Stronger first-half execution and better-than-expected contributions from Mexico supported the revision, giving investors a higher operating bar for the rest of the year.
Debt and Margin Pressure Could Limit TRU’s UpsideThe balance sheet remains a constraint. TransUnion ended June with $5.59 billion in total debt, and its debt-to-equity ratio stands at 1.07. Its adjusted EBITDA margin fell 90 basis points year over year to 34.8%, with management attributing the decline to FICO mortgage royalties.
Leverage improved to 2.6X, but management is still targeting a ratio below 2.5X. The competitive backdrop also remains demanding. Equifax Inc. (EFX - Free Report) operates as a global data, analytics and technology company, while Fair Isaac Corporation (FICO - Free Report) provides analytics and decision-management solutions used in areas including credit risk.
TRU’s Mixed Signals Keep Expectations in CheckThe 15.3% rally has credible operating support, but debt and margin pressure make a straight-line extension uncertain. Guidance now points to continued growth, yet execution in the second half will determine whether the operating momentum remains durable.
TRU currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
TransUnion has a Value Score of B, Growth Score of B and VGM Score of B. Those B scores indicate comparatively favorable value and growth characteristics within the Zacks Style Score framework.
Its Momentum Score of C is less supportive than its other Style Scores. Combined with a Zacks Rank #3, the setup favors a measured view of the recent advance rather than assuming the rally will automatically continue.
TransUnion ve 2. čtvrtletí zvýšila výnosy o 14,9 % na 1,31 miliardy USD a upravený zisk na akcii na 1,23 USD, což znamená růst o 13,9 %. Dluh zůstává vysoký, i když zadlužení kleslo na 2,6x.
Key Takeaways TransUnion's Q2 revenues rose 14.9%, adjusted earnings gained 13.9% and organic revenues grew 10%.TransUnion trades at 15.0X forward earnings, below its sub-industry, sector and S&P 500 benchmarks.TransUnion's leverage fell to 2.6X, while OneTru and its Mexico expansion offer new growth avenues. TransUnion (TRU - Free Report) is showing faster revenue and earnings growth while trading below several valuation benchmarks. The combination strengthens the case for investors to revisit the stock, especially as organic growth remains healthy.
The trade-off is leverage. Debt remains sizable even as the company reduces its leverage ratio, so the investment case depends on whether improving operations and new growth avenues can outweigh balance-sheet and execution risks.
TRU’s Growth Profile Has StrengthenedSecond-quarter 2026 revenues increased 14.9% year over year to $1.31 billion. Adjusted earnings of $1.23 per share rose 13.9%, while organic constant-currency revenues grew 10%, indicating that the improvement extended beyond acquisition contributions.
U.S. Markets revenues advanced 11%. Financial Services revenues climbed 18% to $496.3 million, helped by credit and non-credit offerings, pricing actions and new client wins. Emerging Verticals revenues rose 9% to $353.9 million, adding breadth to the domestic growth profile.
TransUnion Trades at a Discount to Key BenchmarksTRU trades at 15.0X forward 12-month earnings, below 18.8X for the Zacks sub-industry, 18.1X for the Zacks sector and 20.7X for the S&P 500. The stock also sits well below its five-year median multiple of 21.2X.
Image Source: Zacks Investment Research
Image Source: Zacks Investment Research
Image Source: Zacks Investment Research
That discount creates a valuation argument, but it does not guarantee a rerating. Equifax Inc. (EFX - Free Report) , another global data, analytics and technology company, operates in overlapping information-services markets and reinforces the competitive context in which investors are judging TRU’s valuation.
TRU’s Debt Load Still Constrains Financial FlexibilityTransUnion ended June with $5.59 billion in total debt and carries a debt-to-equity ratio of 1.07. The debt load has supported acquisitions and expansion, but it also raises operating costs and can reduce flexibility to pursue additional opportunities.
The leverage ratio declined to 2.6X, supported by adjusted EBITDA growth, while management continues to target a level below 2.5X. FactSet Research Systems Inc. (FDS - Free Report) , a provider of integrated financial information and analytics, is another peer in the broader information-services group, highlighting the range of data-focused businesses competing for investor capital.
OneTru and Mexico Expand TransUnion’s Growth OptionsOneTru gives TransUnion another avenue to build growth internally. The platform unifies data and analytics assets used for credit risk, marketing and fraud mitigation, and it is designed to improve scalability while reducing customer costs. Its pipeline is approaching $50 million.
International expansion adds another lever. TransUnion acquired approximately 94% of Trans Union de Mexico in March 2026, and the business was already performing ahead of acquisition assumptions by the second quarter. Management plans to broaden its data coverage, introduce TruIQ analytics and eventually migrate the business to OneTru.
TRU’s Ratings Favor Patience Over AggressionThe bottom line is that TRU’s improving growth and discounted valuation make the stock more interesting, but the debt burden keeps the risk-reward balance from becoming clearly bullish. Continued organic growth and further deleveraging would strengthen the case, while weaker execution could leave the valuation discount intact.
TRU currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
TransUnion also has a Value Score of B, Growth Score of B and VGM Score of B, signaling relatively favorable characteristics in those areas within the Zacks Style Score framework.
The Momentum Score of C is less supportive. Since the Style Scores are designed to complement the Zacks Rank, the current combination fits a patient stance rather than an aggressive buying case.
Marketnode přenese vybrané fondy BNY Investments na Stellar, čímž rozšíří přístup k tokenizovaným investičním produktům pro institucionální i akreditované investory.
Digital market infrastructure firm Marketnode is set to bring select BNY Investments funds onchain through the Stellar network (@StellarOrg), in a move that widens access to tokenized investment products for both institutional and accredited investors.
What the Partnership InvolvesMarketnode will use its digital infrastructure to tokenize the chosen BNY Investments funds, with distribution efficiency and security cited as the primary goals of the arrangement. Institutional investors stand to gain exposure to multi-asset investment products through the onchain rails, while accredited investors will also be granted access to the selected funds.
Founded by SGX Group and Temasek in 2021, Marketnode serves as Asia-Pacific's distributed ledger-powered financial market infrastructure, operating two platforms: Gateway, an end-to-end tokenization platform, and Fundnode, Singapore's investment fund infrastructure on blockchain. The firm is backed by Euroclear, HSBC, SGX Group and Temasek, and positions itself as APAC's trusted and neutral digital market infrastructure.
Part of a Broader Push by BNY Into TokenizationThe Stellar collaboration arrives as BNY deepens its commitment to blockchain-based fund servicing. In July 2026, BNY announced the launch of its new Digital Transfer Agency capabilities, extending the firm's fund servicing to support digitally native funds across multiple jurisdictions and blockchains, enabling a unified client servicing experience. As of June 30, 2026, BNY oversees $62.6 trillion in assets under custody and administration and $2.2 trillion in assets under management.
The tokenized real-world asset market has expanded sharply in 2026. The global tokenized financial asset market stands at approximately $30 billion, over double where it stood a year earlier, with U.S. Treasury securities and money market funds accounting for about half of that total. The Marketnode and BNY Investments arrangement on Stellar adds further institutional weight to that trend, using a public blockchain network to improve the reach and operability of traditional investment products.
Sources:
BNY: Global Digital Transfer Agency Launch (July 2026)
Markets Media: Euroclear Invests in Marketnode
Callan: Tokenization and 2026 Shifts for Institutional Investors
Stellar ve 2. čtvrtletí zvýšil objem tokenizovaných RWA na 3,05 miliardy USD, tedy o 100 % mezikvartálně. Převody stablecoinů dosáhly rekordu 11,4 miliardy USD.
Stellar quietly posted one of the strongest quarters any Layer 1 has seen in 2026, and it did it in the lane that actually matters to Wall Street: regulated finance.
The Stellar Development Foundation’s Q2 2026 network report, released on August 3, shows tokenized real-world assets on the network reached $3.05 billion, a 100% increase from the prior quarter. That growth rate is roughly four times faster than the broader RWA tokenization market. Meanwhile, stablecoin transfer volumes hit an all-time high of $11.4 billion, and the network averaged approximately 4.9 million daily transactions.
Protocol 26 sets the stage
Much of this momentum traces back to a single date: May 6, 2026, when Protocol 26, nicknamed “Yardstick,” went live on Stellar’s mainnet. The upgrade had been cooking since early April, hitting stable releases on April 8 and clearing testnet on April 16 before the full activation.
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Two features stand out. First, a governed on-chain freeze mechanism, which gives issuers the ability to pause or restrict asset transfers in compliance with regulatory requirements. Second, improved 256-bit arithmetic functionality, which lets the network handle calculations with far greater precision when settling institutional-grade financial instruments.
Who’s actually tokenizing on Stellar
The $3.05 billion in RWAs isn’t a single issuer inflating the number. Centrifuge is driving activity in credit markets, tokenizing private credit instruments and structured finance products. Matrixdock has carved out a niche in gold tokenization, bringing physical precious metals on-chain. And a cohort of issuers across the EU, UK, and US have launched tokenized US Treasuries and investment funds on the network.
Perhaps the most notable signal is institutional interest from the Depository Trust & Clearing Corporation. DTCC, which processes trillions of dollars in securities transactions annually and serves as the backbone of traditional US capital markets, has expressed plans involving Stellar.
The stablecoin story
The $11.4 billion in stablecoin transfers during Q2 represents a new all-time high for the network. Averaging 4.9 million daily transactions also suggests the network is handling meaningful throughput without degradation.
What this means for the competitive landscape
Stellar’s Q2 numbers land at a moment when RWA tokenization has become one of the most contested battlegrounds in crypto. Ethereum remains the largest venue for tokenized assets by total value, but competitors including Polygon, Avalanche, and Solana have all made aggressive plays for institutional issuers.
Doubling RWAs in a single quarter while the broader market grew at roughly a quarter of that pace suggests the strategy is working. Protocol 26’s freeze mechanism is a concrete example: a feature that a bank’s compliance department considers table stakes, now native to the blockchain rather than handled through off-chain workarounds.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Marketnode přenesl vybrané fondy Mellon Investments na Stellar, čímž dává institucionálním i akreditovaným investorům v Asii a Tichomoří digitální přístup k regulovaným fondům. Fondy budou na blockchainu reprezentovány jako tokeny.
Marketnode has announced the onchain integration of select Mellon Investments funds through the Stellar blockchain, giving institutional and accredited investors in the Asia Pacific region digital access to established financial instruments.
Tokenization of Regulated Funds Gains MomentumThe initiative enables certain Mellon Investments funds to be represented as digital tokens on Stellar. This approach offers qualified investors a new avenue to access traditional investment products through blockchain technology instead of relying solely on conventional channels.
Stellar, managed by the Stellar Development Foundation, is a blockchain platform known primarily for cross-border payments and digital asset issuance. Marketnode, a digital market infrastructure company, is accelerating its tokenization strategy by bringing regulated asset managers onchain.
By leveraging tokenization, Marketnode aims to streamline asset management processes and offer investors efficient, traceable, and accessible instruments. As more regulated asset managers consider moving their funds onchain, Stellar’s role in the digitization of financial products is expanding.
Institutional and accredited investors across Asia Pacific are gaining access to real-world investment products on chain, bringing benefits of blockchain technology to traditional finance.
Mini dictionary: Marketnode, a digital market infrastructure provider based in Singapore, focuses on tokenization and the digitalization of traditional financial assets for institutional finance in the Asia-Pacific region.
Stellar Expands Beyond PaymentsTraditionally used for cross-border transfers and crypto payments, Stellar is broadening its presence in regulated finance by offering robust tokenization capabilities. The platform’s infrastructure allows asset managers to represent various investment vehicles—including funds and securities—as blockchain-based tokens.
The Asia Pacific region is emerging as a hub for blockchain-enabled financial instruments. Institutional finance players, particularly in countries like Singapore, are exploring collaborations to digitize traditional assets and enhance operational efficiency through blockchain.
The adoption of Stellar by Marketnode highlights the evolving interest among institutional investors in blockchain infrastructure. Tokenization can improve liquidity, simplify settlement processes, and potentially widen investor access to established financial products.
Market Analysis and Future OutlookThe move comes during a period of mixed performance in the broader cryptocurrency market. Stellar’s price did not record any significant reaction following the announcement, as investors are watching to assess the impact of these developments on long-term network activity.
If more banks and asset managers choose similar models, blockchain-based funds could become mainstream within institutional finance, especially in regions with active regulatory oversight and innovation hubs.
The future growth of tokenized finance on Stellar will depend on evolving regulatory frameworks, continued institutional adoption, and the technical ability of asset managers to migrate traditional products to blockchain networks.
As Marketnode continues to pursue partnerships that bridge conventional finance with blockchain, momentum is building for the tokenization of diverse asset classes in Asia Pacific, potentially setting a precedent for similar projects globally.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Prediction Markets Cross a Historic Volume ThresholdPrediction markets have reached a significant milestone, with monthly transaction volume climbing above $40 billion and surpassing the total combined volume of all U.S. sportsbooks. For context, Pew Research Center data shows that legal U.S. sportsbooks handled roughly $14 billion per month in 2025 on average, making the prediction market figure a clear inflection point for the sector.
The growth has been steep. Industry data compiled by Gambling Insider shows monthly notional trading volume was below $100 million in early 2024 before climbing above $13 billion in late 2025. Bernstein analyst Gautam Chhugani now projects total prediction market volumes could reach $240 billion in 2026 alone, with a path toward $1 trillion annually by 2030, according to a CNBC report citing the investment bank's research.
How @Chainlink Is Powering the Infrastructure LayerBehind that volume growth sits a critical piece of infrastructure. @Chainlink oracles supply the verified, real-time data streams that prediction market platforms need to resolve outcomes accurately and settle payments without delay. According to Chainlink and Polymarket's official partnership announcement, the integration combines Chainlink Data Streams, which provide low-latency, timestamped, and verifiable oracle reports, with Chainlink Automation for timely, automated on-chain settlement.
@Polymarket, one of the sector's largest venues, integrated the $LINK network directly into its resolution process. Chainlink states that Polymarket's volume grew 7.5x over the six months following its integration, and the oracle network now also backs resolution for @trylimitless, @JupiterExchange, and other competing venues. Most recently, @Polymarket overhauled settlement for its short-duration crypto markets, replacing single-price snapshots with a time-weighted average price mechanism powered by Chainlink Data Streams, effective August 7, 2026.
Beyond @Polymarket, @Predictstreet selected Chainlink as its exclusive oracle infrastructure provider for FIFA World Cup 2026 prediction markets, with Chainlink's Runtime Environment handling automated market creation, outcome verification, and payouts using official FIFA data. @world_xyz is also among the leading platforms leveraging the $LINK network to eliminate settlement delays and scale decentralized forecasting for a global user base.
The broader shift points to oracles becoming core settlement infrastructure rather than a peripheral data tool. As @Chainlink founder Sergey Nazarov has noted, when market outcomes are resolved using high-quality data and tamper-proof computation, prediction markets evolve into reliable, real-time signals that global users can trust.
Sources
Pew Research Center: Trading volume on prediction markets has soared in recent months
PR Newswire: Polymarket Partners with Chainlink to Enhance Accuracy of Prediction Market Resolutions
CNBC: Prediction markets will grow to $1 trillion by 2030, Bernstein estimates
Morph spustil neúschovní platební platformu pro USDC a USDT, která posílá stablecoiny přímo do peněženek ovládaných uživateli. Firmy si mohou napojit vlastní wallet a přijímat platby přes faktury nebo platební odkazy bez vkladu u Morph.
Morph has launched a non-custodial payments platform that supports USDC and USDT, lets businesses connect their own wallets, and settles customer payments directly on-chain.
Summary
USDC and USDT payments settle directly into wallets controlled by users.
Morph Payments includes invoices, payment links, and a transaction dashboard.
The platform does not require businesses to deposit stablecoins with Morph.
Visa data cited by Morph put adjusted stablecoin volume at $10.2 trillion over 12 months.
Morph Payments leaves funds in users’ wallets
According to an Aug. 12 press release from Morph shared with crypto.news, the service is available to online businesses, freelancers, and distributed organizations that want to accept, send, and monitor stablecoin payments.
Morph Payments works by connecting a self-custodial wallet to the platform rather than requiring a business to transfer its funds into an account controlled by Morph. When a customer completes a payment, the stablecoins move directly to the wallet selected by the recipient.
Morph said the initial release supports USDC and USDT, the two stablecoins named in the announcement. Businesses can create an invoice or payment link that directs customers to a checkout page, while completed transactions appear in a single dashboard.
Under the setup described in the release, Morph provides the payment interface but does not hold the funds sent through it. Businesses retain control of the private wallet receiving the payment, and the stablecoins become available once the blockchain confirms the transaction.
Such a model differs from a custodial processor, which receives money on behalf of a merchant and later releases the balance. Morph said direct settlement can reduce the time businesses wait to access incoming funds, although the announcement did not provide transaction-speed tests or comparisons with specific payment companies.
The release also did not disclose the platform’s fees, transaction limits, supported jurisdictions, identity-verification requirements, wallet compatibility, or smart-contract audit details. Morph said businesses and entrepreneurs could begin registering through its website on Aug. 12.
Invoices and payment links target online businesses
Alongside wallet settlement, the first version lets users send stablecoins and monitor incoming and outgoing payments. The dashboard is designed to put payment records, invoices, and checkout links in one place, according to the company.
For freelancers, a payment request can be created as an invoice or a link and sent directly to a client. Online businesses can use the same process to collect USDC or USDT without giving Morph control over the receiving wallet.
Morph presented the service as an option for cross-border payments and remote work, where bank transfers may pass through several institutions before reaching the recipient. Claims about payments arriving within minutes and providing faster access to working capital came from the company; the press release did not include independent performance data or customer results.
Renna Ba, Morph’s head of ecosystem, said businesses could eventually work with several stablecoins in much the same way that companies now handle different national currencies.
“The challenge isn’t creating more payment options—it’s making that complexity invisible so businesses can focus on growing, not managing payments.”
Although the comment points to support for multiple assets, the initial product is limited to USDC and USDT. Morph did not identify other stablecoins it may add or provide a schedule for expanding the list.
Morph Payments follows earlier network programs
The launch adds a user-facing product to Morph’s existing work on stablecoin infrastructure. In January, the network selected Cobo as its first partner for the Morph Payment Accelerator, a performance-based program tied to verified stablecoin volume on Morph’s mainnet.
Cobo provides custodial wallets, multi-party computation wallets, and wallet infrastructure across more than 80 blockchains. The January announcement said the partnership would focus on institutional stablecoin activity, including cross-border payouts and high-frequency settlement.
Morph Payments takes a different approach at the user-account level because the new service does not take custody of a business’s assets. Customers can still move stablecoins received through the platform to trading services or yield products built on Morph’s network, the company said. Participation in such services would involve separate platforms and risks not detailed in the payments announcement.
The company has not disclosed transaction targets, expected user numbers, or revenue projections for the product. Additional functions are planned over the coming months, but Morph did not specify which tools will be added or when they will become available.
Stablecoin payment tools are reaching more businesses
Morph cited Visa’s on-chain analytics showing $10.2 trillion in adjusted stablecoin transaction volume during the previous 12 months, a 65% increase from the comparable period. Visa’s adjusted measure is designed to filter activity that its methodology identifies as inorganic.
Separate research published by Morph in April estimated that stablecoins handled $33 trillion in total on-chain volume during 2025. As previously covered by crypto.news, the report attributed about 60% of the measured flows to business-to-business activity and projected more than $50 trillion in settlement volume during 2026. The figures are company estimates rather than audited financial results.
Other payment providers have also introduced stablecoin tools for corporate users. In July, Ramp launched stablecoin business accounts on Solana, allowing customers to hold USDC and USDT and send payments to vendors in more than 140 countries. Ramp also said its system could convert payments into more than 40 local currencies.
Ramp’s product combines stablecoin balances with its existing approval and accounting tools, while Morph’s release focuses on direct settlement to a wallet controlled by the business. Morph did not announce local-currency conversion, bank-account funding, or accounting software integrations.
U.S. stablecoin rules remain unfinished
American businesses considering stablecoin payment products operate under a federal framework that is still being implemented. President Donald Trump signed the GENIUS Act into law on July 18, 2025, establishing federal requirements for payment stablecoin issuers, including reserve, redemption, disclosure, and supervision standards.
The law primarily regulates issuers rather than every business that receives stablecoins. Its treatment of distribution remains relevant, however, because U.S. digital asset service providers will face restrictions on offering payment stablecoins from non-permitted issuers beginning in July 2028.
USDC and USDT are issued by Circle and Tether, respectively, rather than by Morph. The launch announcement did not state whether Morph Payments would be available in every U.S. state or identify the licenses and compliance procedures that could apply to American customers.
Federal regulators missed a July deadline for completing several rules required under the GENIUS Act. As of July 19, proposals covering reserves, redemptions, custody, customer identification, anti-money laundering controls, and state supervision had not all been finalized. The statute is scheduled to take effect by Jan. 18, 2027, unless final regulations start an earlier 120-day implementation period.
Verisk má 83 % výnosů z předplatného za 2. čtvrtletí 2026 a organický růst v konstantní měně činil 8 %. Akcie VRSK se obchodují na 21,7násobku forwardového zisku na akcii, nad průměrem sektoru.
Key Takeaways Verisk's subscriptions reached 83% of Q2 revenues, while organic constant-currency growth was 8%.VRSK trades at 21.7X forward earnings, above sub-industry and sector averages of 18.8X and 18.1X.Verisk's operating cash flow rose 49.7% to $366M, while net interest expense increased to $52.8M. Verisk Analytics, Inc. (VRSK - Free Report) offers investors a durable subscription model, improving operating trends and strong cash generation. The question is whether those qualities justify paying more than key valuation benchmarks.
The trade-off is clear. Recurring revenues and product investment support visibility, but higher financing costs and operating expenses raise the execution bar at a still-premium multiple.
VRSK Builds on a Subscription-Led Revenue BaseSubscription revenues represented 83% of second-quarter 2026 revenues, up from 82% a year earlier, and grew 8% on an organic constant-currency basis. The mix strengthens predictability because subscription fees are generally paid in advance, while renewal pricing is supported by product and data enhancements.
Deferred revenues rose to $573.9 million at June 30, 2026, from $444.2 million at the end of 2025. That increase, along with annual price increases tied to enhancements in forms, rules and loss-cost services, gives Verisk a firmer base for revenue visibility.
Verisk Couples Growth With Strong Cash GenerationSecond-quarter revenues increased 4.3% year over year to $806.3 million, while adjusted earnings rose 5.3% to $1.98 per share. Adjusted EBITDA climbed 4.2% to $463.6 million, with the margin at 57.5%, underscoring continued operating discipline.
Verisk Analytics, Inc. Revenue (Quarterly)Verisk Analytics, Inc. EPS Diluted (Quarterly)Cash conversion was a bigger positive. Operating cash flow jumped 49.7% to $366 million and free cash flow advanced 57.9% to $297.9 million. That capacity supports investment in software, artificial intelligence and scalable technology while funding dividends and share repurchases.
VRSK Still Commands a Valuation PremiumVRSK trades at 21.7X forward 12-month earnings, above the Zacks sub-industry average of 18.8X and the Zacks sector average of 18.1X. The premium means investors are already paying for a meaningful measure of business quality and recurring-revenue resilience.
The multiple is less demanding relative to Verisk’s own history. Its five-year median is 35.6X, with the range spanning 19.6X to 43.5X. Even so, a valuation above current peer benchmarks leaves less room for disappointment if growth or margins soften.
Image Source: Zacks Investment Research
Image Source: Zacks Investment Research
Verisk Faces Higher Debt and Margin PressuresTotal debt stood at $4.47 billion at June 30, 2026, including $4.22 billion of long-term debt and $257.7 million of short-term debt. Net interest expense rose to $52.8 million in the second quarter from $35.5 million a year earlier, increasing the cost of carrying that leverage.
Image Source: Zacks Investment Research
Cost pressure is another offset. Cost of revenues increased 1.7% year over year, partly on higher personnel, benefits and information-technology expenses, while selling, general and administrative expenses rose 20.8% on legal fees, advisory costs and acquisition-related expenses.
VRSK Signals Favor Selectivity Over AggressionThe operating backdrop supports patience rather than an aggressive entry. Guidewire Software, Inc. (GWRE - Free Report) also serves property and casualty insurers with core software and analytics, while CCC Intelligent Solutions Holdings Inc. (CCC - Free Report) uses cloud, data and artificial intelligence across insurance claims and repair workflows. Those peers highlight the broader push toward embedded insurance technology and automation.
VRSK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
VRSK carries a VGM Score of B, Growth Score of B, Momentum Score of B and Value Score of C. A #3 rank can support holding a stock, while the B scores point to favorable growth and momentum characteristics. The Value Score of C is more neutral, fitting a stock with solid operating quality but a valuation that still warrants selectivity.
Coherent oznámil lepší než očekávané výsledky za 4. fiskální čtvrtletí, když tržby vzrostly meziročně o 34 % na 2,05 miliardy USD a EPS činil 1,74 USD. Analytik Ryan Koontz zvýšil cílovou cenu na 420 USD.
Coherent Corp (NYSE:COHR) shares tanked in early trading on Thursday, after the company reported its fiscal fourth-quarter results.
The company reported higher-than-expected results, with Data Center segment sales accelerating with laser supply from its 6-inch fab flowing through to volume transceiver shipments, according to Needham.
• Coherent shares are retreating from recent levels. What’s weighing on COHR shares?
The Coherent Analyst: Analyst Ryan Koontz reiterated a Buy rating and lifted the price target from $380 to $420.
The Coherent Thesis: While the company is a "major AI infrastructure beneficiary," it needs to continue improving execution amid "high demand and even higher investor expectations," Koontz said in the note.
Check out other analyst stock ratings.
Koontz highlighted the following from Coherent’s quarterly results:
Revenue grew 34% year-on-year and 13% sequentially to $2.05 billion. The figure came in above consensus of $1.98 billion. Non-GAAP earnings of $1.74 per share beat consensus of $1.62 per share. Data Center and Communications revenue came in at $1.615 billion, with growth accelerating to 59% year-on-year, from 41% in the previous quarter, driven by "continued strong demand from AI hyperscale and cloud customers." Data Center revenue growth accelerated to 66% year-on-year and 24% sequentially, driven by both 1.6T and 800G transceivers. "The ramp of 6-inch InP wafer fabs continues as 50% of InP output is now from 6-inch and 50% from 3-inch," the analyst wrote.
Laser unit growth of 80% year-on-year in the latest quarter signals Data Center growth in the September quarter, he added.
Outlook: For the first quarter of fiscal 2027, Coherent guided to:
Revenue in a range of $2.20-$2.40 billion, above consensus of $2.13 billion. Non-GAAP gross margin of 39.5%-41.5%, up 30 basis points (bps) at the midpoint. Non-GAAP earnings of $1.85-$2.05 per share, above consensus of $1.77. "We expect investors to be disappointed with the GM ramp which we believe is dampened by weaker transceiver GMs despite higher mix of 1.6T," the analyst further wrote.
COHR Price Action: Shares of Coherent had declined by 4.69% to $339.07 at the time of publication on Thursday.
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The optics complex is splitting in two this morning. Coherent (NYSE:COHR | COHR Price Prediction) is trading down 4.94% and Cisco Systems (NASDAQ:CSCO) is down 8.48% after both reported fiscal fourth-quarter results last night. Yet the pure-play optical vendors that sell into the exact same demand story are green. Ciena (NYSE:CIEN) is up 6.04% and Nokia (NYSE:NOK) is up 3.29%.
Margins and Cash Flow Are the Reason the Reporters Are Red
Both earnings were beats. Coherent posted revenue of $2.05 billion, up 33.74% year over year, and non-GAAP EPS of $1.74 against a $1.612consensus. The Datacenter and Communications segment hit $1.615 billion, up 59% year over year on a pro forma basis. The sore spot is the 8-K cash disclosure: fiscal 2026 operating cash flow of $79.5 million, down 87.45% year over year, against capital expenditures of $1.1029 billion, up 150.18%. Coming into the earnings report, COHR had already rallied 8.35% over the prior week, which included a steep sell-off on Monday and gains last week following reports of potential U.S. bans on Chinese transceiver shipments.
Cisco reported $17.25 billion in revenue, up 17.6% year over year, with $4.0 billion of AI infrastructure orders in the quarter and $9.3 billion for fiscal 2026. FY2027 guidance calls for revenue of $72.2 billion to $73.4 billion and $7.5 billion in AI infrastructure revenue. The issue is margin mix. Non-GAAP gross margin dropped to 66.3% from 68.4% on heavier AI hardware volume and memory cost inflation. CEO Chuck Robbins called it “a very strong close to fiscal 2026, marking another record year for Cisco,” but the stock is trading as if expectations were priced for perfection.
Why Ciena and Nokia Are Rallying Off the Same Data
The read-through is that data center interconnect and coherent optical transport demand is inflecting hard. On Lumentum’s conference call earlier this week CEO Michael Hurlston said:
“Expanding, inferencing and training applications are driving full rate connectivity between data centers, while political and regulatory constraints favor smaller, more modular builds. These 2 factors among others are substantially increasing the demand for our pump laser solutions. To put this in perspective, for one major hyperscaler, the network capacity connecting just 2 AI data center sites could double the total global backbone capacity they built over the entirety of the last decade. To support the growth and scale across deployments, we have secured multiple long-term customer agreements that helped offset our planned capital expenditures. We continue to expect a fourfold increase in our pump laser shipments over the next several quarters to meet this escalating demand.”
That quote is music to the ears of companies like Nokia and Ciena. In addition, Coherent CEO James Anderson said on last night’s call that “The demand just continues to go up for anything DCI or scale across related.”Cisco said their Acacia optics unit had another $1 billion quarter that was “very strong.”
That is exactly the addressable market Ciena and Nokia sell into. Ciena’s most recent quarter showed 39.51% revenue growth with cloud provider revenue at 46% of total, growing 70% year over year. Nokia’s Q2 AI and Cloud revenue more than doubled year over year with $3.2 billion in AI and Cloud order intake. Nokia trades as a US-listed ADR.
Another catalyst for this group appears to be Wall Street commentary. Last night JPMorgan issued a note taht the strongest parts of Cisco’s earnings had positive read-through for Nokia as the company reported surprisingly strong telecom orders. That’s also positive read-through for Ciena itself.
The Split on the Screen
Ticker
Today
YTD
COHR
-4.39%
+92.69%
CSCO
-8.48%
+63.15%
CIEN
+6.04%
+84.74%
NOK
+3.29%
+61.85%
The two that reported are down. The transport and interconnect vendors around them are up. Coherent still has heavy analyst backing, with a consensus target of $394.62 against today’s $340.04 print.
Contact [email protected] for any questions or corrections.
