Market Signal Briefing

The flavor-and-fragrance company reported sales of $7.14 billion for the first nine months of 2025, up 5.7% from the same period the year prior on a like-for-like basis.

, /PRNewswire/ --

Strategic highlights – operational excellence and enhanced financial flexibility  

Strong commercial momentum with significant customer agreements including in India, Japan and the UK.  
Operational excellence and cost efficiency actions driving gross margins to strong sustainable levels.  
5G Open RAN-ready portfolio breadth and technology leadership position reaffirmed by Gartner and Omdia.  

Financial highlights – further profitability growth  

Organic sales declined by -2%, with growth in three out of four market areas. Reported sales were SEK 56.2 (61.8) b., with an FX impact of SEK -4.2 b.  
Adjusted[1] gross income decreased to SEK 27.0 (28.6) b. as currency headwinds offset strong operational execution. Reported gross income was SEK 26.8 (28.2) b.  
Adjusted[1] gross margin was 48.1% (46.3%) driven by improvements in Networks and Cloud Software and Services. Reported gross margin was 47.6% (45.6%).   
Adjusted[1] EBITA was SEK 15.8 (7.8) b. with a 28.1% (12.6%) margin, including a SEK 7.6 b. capital gain benefit from the divestment of iconectiv. Reported EBITA was SEK 15.5 (6.2) b. with a 27.6% (10.0%) margin.     
Net income was SEK 11.3 (3.9) b. including a benefit from the capital gain. EPS diluted was SEK 3.33 (1.14).    
Free cash flow before M&A was SEK 6.6 (12.9) b. Net cash increased to SEK 51.9 b.  

Börje Ekholm, President and CEO, said: "In Q3, we established margins at a new long-term level following strong operational execution over the past few years. Cloud Software and Services sales grew 9%*, driven by strong growth in core networks. 

Our solid progress on technology initiatives continues. Gartner and Omdia reconfirmed our 5G solutions are industry leading. Our Open RAN-ready portfolio includes an AI native, future proof software architecture which is hardware agnostic. The portfolio integrates with third-party radios and supports Ericsson silicon and third-party CPU/GPUs.   

Looking ahead, we expect Enterprise organic sales to stabilize in Q4 and the RAN market to remain broadly stable. Solid recurring cash flow and the iconectiv sale contributed to a strong Q3 cash position, offering scope for increased shareholder distributions. The Board's recommendation on the scale and mechanism for the distribution will be included in the Q4 report for decision at the AGM." 

SEK b.

Q3

 2025

Q3
 2024

YoY
   change

Q2
  2025

QoQ
change

Jan-Sep
2025

Jan-Sep

2024

YoY

 change

Net sales

56.239

61.794

-9 %

56.132

0 %

167.396

174.967

-4 %

 Organic sales growth * [2]

-

-

-2 %

-

-

-

-

0 %

Gross income

26.777

28.185

-5 %

26.649

0 %

79.963

76.658

4 %

Gross margin [2]

47.6 %

45.6 %

-

47.5 %

-

47.8 %

43.8 %

-

EBIT (loss)

15.151

5.774

162 %

6.391

137 %

27.473

-3.6

-

EBIT margin [2]

26.9 %

9.3 %

-

11.4 %

-

16.4 %

-2.1 %

-

EBITA [2]

15.516

6.203

150 %

6.763

129 %

28.931

13.522

114 %

EBITA margin [2]

27.6 %

10.0 %

-

12.0 %

-

17.3 %

7.7 %

-

Net income (loss)

11.300

3.881

191 %

4.626

144 %

20.143

-4.505

-

EPS diluted, SEK

3.33

1.14

192 %

1.37

143 %

5.94

-1.43

-

Free cash flow before M&A [2]

6.631

12.944

-49 %

2.581

157 %

11.916

24.210

-51 %

Net cash, end of period [2]

51.858

25.534

103 %

36.040

44 %

51.858

25.534

103 %

Adjusted financial measures [1][2]

Adjusted gross income

27.048

28.609

-5 %

26.959

0 %

80.702

77.670

4 %

Adjusted gross margin

48.1 %

46.3 %

-

48.0 %

-

48.2 %

44.4 %

-

Adjusted EBIT (loss)

15.454

7.327

111 %

7.047

119 %

28.713

-0.259

-

Adjusted EBIT margin

27.5 %

11.9 %

-

12.6 %

-

17.2 %

-0.1 %

-

Adjusted EBITA

15.819

7.756

104 %

7.419

113 %

30.171

16.908

78 %

Adjusted EBITA margin

28.1 %

12.6 %

-

13.2 %

-

18.0 %

9.7 %

-

* Sales adjusted for the impact of acquisitions and divestments and effects of foreign currency fluctuations. 

1] Adjusted metrics are adjusted to exclude restructuring charges. 
[2] Non-IFRS financial measures are reconciled at the end of this report to the most directly reconcilable line items in the financial statement.  

NOTES TO EDITORS 

You find the complete report with tables in the attached PDF or on www.ericsson.com/investors

Video webcast for analysts, investors and journalists 

President and CEO Börje Ekholm and CFO Lars Sandström will comment on the report and take questions at a live video webcast at 9:00 AM CEST (8:00 AM BST London, 3:00 AM EDT New York). 

Join the webcast or please go to www.ericsson.com/investors

To ask a question: Access dial-in information here

The webcast will be available on-demand after the event and can be viewed at www.ericsson.com/investors. 

FOR FURTHER INFORMATION, PLEASE CONTACT 
Daniel Morris, Head of Investor Relations 
Phone: +44 7386657217  
E-mail: [email protected]

Additional contacts 
Stella Medlicott, Senior Vice President, Marketing and Corporate Relations 
Phone: +46 730 95 65 39 
E-mail: [email protected]

Investors
Lena Häggblom, Director, Investor Relations 
Phone: +46 72 593 27 78 
E-mail:  [email protected]

Alan Ganson, Director, Investor Relations 
Phone: +46 70 267 27 30 
E-mail: [email protected]

Media 
Ralf Bagner, Head of Media Relations 
Phone: +46 76 128 47 89 
E-mail: [email protected]

Media relations  
Phone: +46 10 719 69 92 
E-mail: [email protected]

This is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on October 14, 2025. 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ericsson/r/ericsson-reports-third-quarter-results-2025,c4249501

The following files are available for download:

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in PAAS over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

CHICAGO & ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Monroe Capital LLC (“Monroe”), a premier asset management firm specializing in private credit markets, today announced the official opening of its office in Abu Dhabi, United Arab Emirates, following receipt of its Financial Services Permission (FSP) from the Financial Services Regulatory Authority of ADGM, the international financial centre (IFC) of Abu Dhabi, the Capital of UAE. The new office marks a significant milestone in Monroe’s strategic expansion into the Middle East and builds on its global footprint, which includes offices across the United States, Asia, and Australia.

The Abu Dhabi office will serve as Monroe’s regional hub, strengthening its ability to engage with institutional investors and deepen client relationships across the GCC and the broader Middle East. The firm’s establishment in ADGM underscores its long-term commitment to the region and confidence in Abu Dhabi’s growing prominence as a global financial center.

“We are excited to open our office in ADGM and further extend Monroe’s global platform,” said Zia Uddin, President of Monroe Capital. “As private credit continues to grow in importance worldwide, Monroe’s differentiated approach—rooted in disciplined underwriting, innovative structuring, and long-term partnership—positions us to meet the evolving needs of investors in the Middle East and beyond.”

Waleed Noor, Managing Director and Head of Middle East at Monroe, added, “Our presence in Abu Dhabi marks an exciting new chapter for Monroe in the Middle East. We are committed to building long-term partnerships with institutional investors and family offices across the region, working closely to understand their priorities and deliver solutions that create lasting value. This office represents our dedication to supporting the growth of the regional financial ecosystem and contributing to Abu Dhabi’s role as a global financial hub.”

Arvind Ramamurthy, Chief Market Development Officer at ADGM said, “The addition of Monroe Capital to ADGM’s ecosystem is another important milestone in strengthening our asset management community. As a premier firm specializing in private credit markets, their decision to establish in ADGM reflects the confidence global institutions place in our robust regulatory framework and dynamic financial ecosystem. With its international standards and investor-friendly environment, ADGM continues to stand out as a destination of choice for leading asset managers worldwide.”

About Monroe Capital

Monroe Capital LLC (“Monroe”) is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and has 12 locations throughout the United States, Middle East, Asia and Australia.

Monroe has been recognized by both its peers and investors with various awards including DealCatalyst as the 2025 Most Innovative Private Credit CLO Manager of the Year; Private Debt Investor as the 2024 Lower Mid-Market Lender of the Year, Americas and 2023 Lower Mid-Market Lender of the Decade; Inc.’s 2024 Founder-Friendly Investors List; Global M&A Network as the 2024 Lower Mid-Markets Lender of the Year, Americas; Korean Economic Daily as the 2022 Best Performance in Private Debt – Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit www.monroecap.com.

Please see below information about transactions made under the third tranche of the 2025 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).

Date on which the buy-back tranche was announced: 23 July 2025.

The duration of the buy-back tranche: 24 July to no later than 27 October 2025.

Further information on the tranche can be found in the stock market announcement on its commencement dated 23 July 2025, available here: https://newsweb.oslobors.no/message/651645

From 6 October to 10 October 2025, Equinor ASA has purchased a total of 1,327,002 own shares at an average price of NOK 247.9520 per share.

Overview of transactions:

DateTrading venueAggregated daily volume (number of shares)Daily weighted average share price (NOK)Total daily transaction value (NOK)     6 OctoberOSE260,837251.067965,487,797.83 CEUX    TQEX        7 OctoberOSE259,000252.722765,455,179.30 CEUX    TQEX        8 OctoberOSE265,300247.854565,755,798.85 CEUX    TQEX        9 OctoberOSE266,515247.241565,893,568.37 CEUX    TQEX        10 OctoberOSE275,350241.294466,440,413.04 CEUX    TQEX        Total for the periodOSE1,327,002247.9520329,032,757.39 CEUX    TQEX        Previously disclosed buy-backs under the trancheOSE13,377,819250.13503,346,261,370.65CEUX   TQEX   Total13,377,819250.13503,346,261,370.65     Total buy-backs under the tranche (accumulated)OSE14,704,821249.93803,675,294,128.05CEUX   TQEX   Total14,704,821249.93803,675,294,128.05 Following the completion of the above transactions, Equinor ASA owns a total of 40,990,676 own shares, corresponding to 1.60% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 31,082,009 own shares, corresponding to 1.22% of the share capital).

This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.

Contact details:

Investor relations
Bård Glad Pedersen, senior vice president Investor Relations,
+47 918 01 791

Media
Sissel Rinde, vice president Media Relations,
+47 412 60 584

Detailed overview of transactions

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.

CASCAIS, Portugal, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) (“Pulsar” or the “Company”), a leading helium exploration and development company, is pleased to announce that the drill rig and supporting equipment has been mobilized and is due to arrive at the Company’s flagship Topaz Project in Minnesota, USA this Wednesday. Up to ten additional wells are to be drilled, with the campaign designed to further define the geometry, extent, and productivity of the helium-bearing reservoir identified in previous drilling and flow-testing campaigns.

Drilling of the first well, Jetstream #3, is anticipated to commence later this week. Pulsar personnel, including the Company’s President & CEO, Chief Financial Officer, and Operations Manager, are on site overseeing final preparations.

The program will comprise up to ten wells targeting helium-bearing zones at depths between 1,500 to 3,900 feet (~450 to 1,200 metres). Drill depths will be refined based on geological modelling to ensure complete penetration of the reservoir at each location. Operations will run on a continuous 24-hour basis using rotating crews to maximize efficiency and minimize downtime.

Data collected throughout the campaign, including gas shows, core samples, and downhole measurements, will be analyzed in real time. These results will enable Pulsar to refine its reservoir model, confirm continuity between well locations, and identify optimal sites for future production infrastructure.

Thomas Abraham-James, President & CEO of Pulsar, commented:

“The mobilization of the drill rig signals the start of an exciting new phase at Topaz. Building on the strong results from Jetstream #1 and #2, this next program is critical in confirming the scale of Minnesota’s helium potential. Each well will bring us closer to quantifying the resource, advancing Topaz toward commercial development, and reinforcing Pulsar’s role in strengthening U.S. helium supply chains.”

About the Rig

The wells will be drilled by Timberline Drilling Inc., using a Christensen CT20 that has a drilling depth capacity of 8,000 feet (2,435 meters). The Christensen CT20 is safe, ergonomic and environmentally friendly. The rig is an ideal choice for surface core drilling anywhere in the world. Available with truck or crawler mounted versions, the Christensen CT20 can easily be transported and maneuvered.

About the Topaz Project

The Topaz project is located in northern Minnesota, USA, where Pulsar is the first mover and holds exclusive leases. Drilling at the Jetstream #1 appraisal well reached a total depth (“TD”) of 5,100 feet (1,555 meters) in January 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond. Drilling of the Jetstream #2 appraisal well was completed on February 1, 2025, reaching a TD of 5,638 feet (1,718 meters). In August 2025, the Jetstream #1 well was successfully flow-tested using a wellhead compressor, delivering a peak gas flow rate of approximately 1.3 million cubic feet per day with a sustained flow of 7–8% helium (as helium-4). Recent laboratory analyses have also confirmed the presence of helium-3 in measurable concentrations, representing one of the highest naturally occurring helium-3 values publicly reported in a terrestrial gas reservoir. The forthcoming multi-well drilling campaign will build on these results to expand Pulsar’s understanding of the reservoir and advance Topaz toward development.

On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director

Further Information:

Pulsar Helium Inc.
[email protected]
+ 1 (218) 203-5301 (USA/Canada)

+44 (0) 2033 55 9889 (United Kingdom)
https://pulsarhelium.com
https://ca.linkedin.com/company/pulsar-helium-inc.

Yellow Jersey PR Limited
(Financial PR)
Charles Goodwin / Annabelle Wills
+44 777 5194 357
[email protected]

Strand Hanson Limited
(Nominated & Financial Adviser, and Joint Broker)
Ritchie Balmer / Rob Patrick / Richard Johnson
+44 (0) 207 409 3494

OAK Securities*
(Joint Broker)
Richard McGlashan / Mungo Sheehan
+44 7879 646641 / +44 7788 266844
[email protected] / [email protected]

*OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority.

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of the London Stock Exchange and listed on the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.

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

Qualified Person Signoff

In accordance with the AIM Note for Mining and Oil and Gas Companies, the Company discloses that Thomas Abraham-James, President, CEO and Director of the Company has reviewed the technical information contained herein. Mr. Abraham-James has approximately 20 years in the mineral exploration industry, is a Chartered Professional Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM CP (Geo)), a Fellow of the Society of Economic Geologists and a Fellow of the Geological Society of London.

Forward-Looking Statements

This news release contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the statements regarding bringing the Topaz project to production, anticipated full plant construction contract in 2026, final investment decision being made in 2026, the potential impact of the drill results, flow testing and pressure testing on the next iteration of the resource estimate; the potential of CO2 as a valuable by-product of the Company’s future helium production; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals. 

No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.

Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.

Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates ; commodity prices; health, safety and environmental factors; and other factors set forth above as well as risk factors included in the Company’s Annual Information Form dated July 31, 2025 for the year ended September 30, 2024 found under Company’s profile on www.sedarplus.ca.

Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

Google will invest $10 billion into building new data centers in southern India, according to local officials, marking one of its largest investments in the South Asian nation as tech giants scramble to meet the exploding demand for AI. 

Minister for Human Resources Development of the Indian state of Andhra Pradesh, Nara Lokesh, announced Monday that Google and his government will sign a memorandum for a 1 gigawatt project in the state with an investment of $10 billion. 

The deal — to be signed Tuesday — comes after "a year of intense discussions and relentless effort," and "is just the beginning," Lokesh said in a post on the social media platform X. 

The Indian outlet Economic Times previously reported that the investment would be made by Google's Indian subsidiary Raiden Infotech, which plans to develop three campuses across the city of Visakhapatnam.

According to another report from ET on Tuesday,  state officials planned to continue doubling down on such projects and to significantly scale up the state's computing capacity over the next three years.

Companies are amping up investments in infrastructure to keep pace with surging global demand for cloud services as AI services become increasingly popular.

As part of its second-quarter earnings in July, Google increased its forecast for capital expenditures in 2025 to $85 billion, up from $75 billion in February, due to "strong and growing demand for our Cloud products and services."

That same month, the company also announced plans to invest $25 billion in data center and artificial intelligence infrastructure over the next two years in states across the biggest electric grid in the U.S.

India is increasingly attracting multinational players, such as Microsoft and AWS, to invest in the country's cloud and AI infrastructure.

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

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

Indian crypto exchange Wazirx secured court approval for its restructured recovery plan, setting the stage for platform relaunch, user compensation, token distributions, and renewed operations. Singapore Court Approves Wazirx Recovery Plan With Modifications Indian crypto exchange Wazirx announced on Oct.

Chiliz wants to turn fan loyalty into an investable asset class. In an interview with TokenPost, Chief Strategy Officer Max Rabinovitch described the company’s effort to build a new “SportFi” ecosystem where fans can participate in club decisions and see digital assets move with team performance.

“Fans are beginning to take part directly in how their clubs are run,” he said. “Chiliz is the bridge to that future.”

Regulatory Green Light in Europe

The company recently became the first in Europe to secure a MiCA (Markets in Crypto-Assets) license, a key step toward operating under the EU’s formal crypto framework. Rabinovitch called the license “proof that our conservative, regulation-first approach was the right one,” adding that it now opens doors to global sports brands that had been waiting for legal clarity.

Fan Tokens as Engagement, Not Speculation

Often seen as speculative, fan tokens are designed by Chiliz as utility assets that grant participation. Holders can vote on club matters, access merchandise, and earn match-day rewards. “The token is an emotional investment,” he said. “It lets supporters influence their teams rather than just trade them.”

From Issuer to IP Owner

Chiliz’s purchase of a stake in esports giant OG signals a shift from token issuer to intellectual-property holder. Rabinovitch said the company is testing “dynamic tokenomics,” linking token value to measurable factors such as player results and team performance—an early experiment in real-world-asset-backed Web3 finance.

Korea on the Radar

Korea and Japan “were among the first markets to understand fan tokens,” he noted. The Socios.com app isn’t officially available there yet, but Chiliz is already in talks with the K-League and national football authorities. “We’ll enter as soon as the rules are clear.”

Building a Circular Fan Economy

Rabinovitch sees tokenization replacing traditional sponsorship with a participatory model. “We’re creating a structure where clubs and fans share value,” he said. “Investing in your team should be as simple as buying a toothbrush—and Korea could be where that future begins.”

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Jigme Tenzing, the Secretary of the GovTech Agency, said Bhutan is 'further strengthening' the digital ID system by moving to Ethereum.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is showing signs of recovery after Friday’s sharp decline, triggered by comments from US President Donald Trump regarding new tariffs on China. The remarks sent shockwaves through global markets, with risk assets—including cryptocurrencies—experiencing heightened volatility. BTC plunged to as low as $103K before rebounding, leaving traders and analysts assessing whether this correction marks the beginning of a deeper retracement or just another shakeout.

Adding intrigue to the situation, a mysterious whale, known by many as a “BitcoinOG,” profited more than $160 million in just 30 hours during the crash. The trader reportedly executed large short positions on both Bitcoin and Ethereum, perfectly timing the market’s downturn. Now, in a surprising twist, this same entity is doubling down. Lookonchain data shows that the trader has opened additional short positions totaling 1,423 BTC—worth approximately $161 million at current prices.

The move has sparked widespread speculation across the crypto community. While some see it as a calculated hedge anticipating further downside, others interpret it as a potential market manipulation attempt. Regardless, Bitcoin’s ability to recover amid such heavy short positioning will be a key test of market resilience in the days ahead.

Bitcoin OG Moves Another 100 BTC: A Signal or a Setup?
According to data from Lookonchain, the mysterious trader known as “Bitcoin OG” has just deposited another 100 BTC—worth approximately $11.48 million—into Kraken within the past hour.

Bitcoin OG wallet transfer to Kraken | Source: Lookonchain
Depositing BTC to exchanges like Kraken often signals a potential intent to sell or to use the coins as collateral for derivatives trading. Given that this trader has already built a massive short position—currently estimated at 1,423 BTC ($161 million)—this additional transfer may suggest that the individual is either increasing leverage or preparing for further downside. It’s a classic playbook move: send BTC to an exchange ahead of shorting or market-making activity.

However, such transactions can also act as psychological catalysts, amplifying fear across the market. When large wallets move funds after volatile events, it often triggers panic among retail traders, who interpret it as a prelude to another sell-off.

The coming days will therefore be crucial. If Bitcoin holds above $113K–$115K despite these bearish signals, it could indicate that selling pressure is being absorbed by strong hands. Conversely, failure to maintain this support could trigger another cascade of liquidations toward the $108K–$110K zone. In short, the market is entering a decisive phase—where Bitcoin’s resilience will either confirm recovery or pave the way for another sharp leg down.

Price Faces Resistance as Recovery Slows
Bitcoin’s daily chart shows the market struggling to regain momentum after last week’s dramatic sell-off. Following the drop to $103K, BTC rebounded sharply but now faces resistance near the $117,500 level — a critical zone that previously acted as both support and resistance throughout August and September.

BTC testing key resistance | Source: BTCUSDT chart on TradingView
The price is currently trading around $114,300, sitting just below the 50-day moving average (blue line), while the 100-day (green) and 200-day (red) moving averages remain slightly below, supporting the current structure around $112K and $107K, respectively. This alignment suggests that BTC remains in a medium-term uptrend, but the current consolidation could define the next major move.

If Bitcoin manages to close above $117,500, it could confirm a bullish continuation toward $122K and eventually retest the $125K level. Conversely, failure to break through resistance may trigger renewed selling pressure, potentially dragging the price back toward $110K or even $107K.

Momentum indicators show that buyers are cautious, with limited follow-through after each rally attempt. For now, Bitcoin’s outlook remains neutral to slightly bullish—but traders should watch for confirmation of direction around the $117.5K mark, which will likely determine whether the next leg is a recovery or another corrective wave.

Featured image from ChatGPT, chart from TradingView.com

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance.
Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

Two recent SEC decisions are changing how crypto exchange-traded funds (ETFs) come to market. But despite rising excitement, experts say an ETFs might not launch in October and that the much-discussed October 19b-4 deadlines are not actual launch dates.

SEC Simplifies ETF ApprovalsThe U.S. Securities and Exchange Commission (SEC) has agreed to streamline how ETFs are approved, replacing the slow case-by-case approach with Generic Listing Standards (GLS).

The change will allow crypto ETFs to be listed more efficiently once other regulatory steps are complete. The SEC also allowed Dimensional Fund Advisors to add an ETF share class to its mutual funds, and more than 70 fund companies are waiting to do the same.

However, progress is now paused. The ongoing U.S. government shutdown has furloughed SEC staff, including those who review and process ETF registrations. Until the government reopens, no new ETFs can move forward.

“Ignore the October Deadlines,” Analyst ExplainsETF analyst Xethalis said that investors are misunderstanding what the October 19b-4 filings mean.

“Basically we’re waiting on the government to reopen (probably).,” he explained. “Litecoin 19b4 deadline was Oct 2.  Solana 19b4 deadline was Oct 10.  Those (as well as for XRP, BCH and AVAX, etc) were obviated by the Generic Listing Standards (GLS).”

There’s some confusion around the SEC and spot ETPs.

Quick update for folks —> Basically we’re waiting on the government to reopen (probably).

Litecoin 19b4 deadline was Oct 2. Solana 19b4 deadline was Oct 10. Those (as well as for XRP, BCH and AVAX, etc) were obviated by…

— Greg Xethalis (@xethalis) October 13, 2025 The 19b-4 process covers exchange rule filings, not ETF launch approvals. These filings were cleared, but each fund must still complete registration under the 1933 and 1934 Acts. That includes submitting Form S-1 and Form 8-A, both of which need SEC review.

Since those reviews are paused, no ETF can go live yet. Xethalis said that some issuers, like Canary LTC, Bitwise SOL, and Grayscale SOL, have removed “delaying amendments” to speed up approval. But this does not mean a Halloween launch is guaranteed.

What Happens NextWhen the government reopens, exchanges such as NYSE Arca, CBOE BZX, and NASDAQ could start listing these ETFs. The groundwork is ready. Many spot crypto ETPs — including those for Solana (SOL) and Litecoin (LTC) — have cleared their main rule steps.

Still, it’s a waiting game. 

XRP Price Moves With the NewsThe uncertainty around ETF timing hasn’t stopped XRP from moving sharply. After a 41% flash, XRP recovered to $2.40 and is holding above support as trading activity jumps.

Volumes are up 160% from the monthly average as both retail and institutional players adjust their positions. The SEC was expected to review several spot XRP ETF filings from Grayscale, Bitwise, 21Shares, and WisdomTree between October 18 and 25, but those dates are now uncertain.

If approvals come after the shutdown ends, analysts say XRP could push for a weekly close above $3.11. Resistance remains between $3 and $3.65, with support near $2.65.

Regulatory ContextRipple gained ground earlier this year when a U.S. court ruled that XRP is not a security in secondary market sales. The decision gave XRP more legal clarity in the U.S. Still, Ripple’s push for a national banking charter continues, and the outcome is expected soon.

For now, the regulatory path matters more than price action. Until the SEC resumes operations, no XRP ETF can launch, no matter how soon filings appear to be ready.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Solana faces backlash over its “100,000 TPS” claim, with critics alleging inflated metrics amid post-crash recovery.Developers clarify that 100,000 TPS reflects validator processing capacity, not finalized transactions—debunking FUD claims.Despite controversy, SOL price rebounds 5.5% to $208, holding key support zones and maintaining its long-term bullish trend.Solana again finds itself in the spotlight after allegations of inflating its 100,000 TPS performance claim. 

But what’s the real technical truth behind this controversy—and can the latest SOL Price FUD derail the network’s ongoing recovery?

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When Technical Metrics Get MisunderstoodFollowing the Crypto Black Friday last week, Solana (SOL) highlighted the network’s resilience under extreme demand, reporting that “raw transactions spiked to 6,000–10,000 per second”. Meanwhile, Brennan Watt, Core Engineering VP at Anza, a Solana-focused software company, stated that the network handled up to 100,000 transactions per second (TPS). This performance occurred during the US tariff announcement–driven market volatility.

This immediately sparked a heated debate across social media. Several users accused Solana of “fabricating” the 100,000 TPS milestone. 

“Solana couldn’t even keep their story straight. The official account accidentally posted the real TPS (raw 6k, actual 1,800 true TPS) before their engineer cooked up the fake 100k number.” One X user wrote.

Solana’s team and ecosystem contributors quickly reacted.

Matt Sorg, Technology VP at Solana Foundation, explained that validators ingest the 100,000 TPS figure as transactions. These include duplicates and reverted transactions not finalized on-chain, differing from Ethereum’s mempool filtering mechanism.

“It’s not useless for Solana. It’s understood in our technical world, and you’re right that it doesn’t have a direct comparison to Ethereum due to how the mempool works,” said Matt Sorg.

Similarly, Marcantonio, Head of DeFi at Galaxy, defended Solana’s metric as a valid measure of transaction ingress rate—indicating how much the validator pipeline can handle—not the number of finalized transactions. The technical nuance indicates that analysts misinterpreted the 100,000 TPS claim rather than it being fabricated. This reveals how competitors weaponize raw performance metrics in the ongoing Ethereum–Solana rivalry.

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SOL Price Recovers Strongly: FUD Fails to Break the TrendWhile the technical debate continues, the SOL price tells a different story—rallying sharply after the recent flash crash. According to multiple analysts, the $180 zone was previously a major resistance zone. Traders have successfully retested it as support, reinforcing Solana’s multi-year ascending trendline from 2022.

SOL/USD 3D Chart. Source: ANBESSAIn addition, the on-chain URPD data shared by X shows that the central accumulation zone at $224 has decreased from 7.47% (11/10) to 5.89% (13/10). This means that holders have taken profit on more than 18 million SOL and moved them to the support zone of $172-$197.

SOL URPD on-chain indicator. Source: DCTraders still consider the $166-$177 zone strong support, as it has served as an accumulation zone since August. The current price has recovered above $190 after hitting a low of $168 on October 11. The $215-$224 zone is now an important resistance level, with a large accumulation volume that needs to be processed.

In the current situation, monitoring the stock market’s reaction and information about the Solana ETF can provide an effective trading strategy. If the SOL price stabilizes above $190 and shows signs of consolidation at $172-$197, this could be an opportunity to act.

As of this writing, SOL is trading at $208.92, up 5.9% over the past 24 hours. This makes it the top-performing cryptocurrency among the top 40 by market capitalization.

SOL price action. Source: BeInCryptoDisclaimer

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Cardano [ADA] demonstrated resilience after a sharp market correction last week, as large investors took advantage of lower prices to accumulate the token. While traders remain cautious, on-chain and derivatives data point to early signs of stabilization and a potential rebound.

Solana (SOL) is once again the center of attention following fresh controversy surrounding its 100,000 transactions per second (TPS) performance claim. The debate erupted after the network reported impressive throughput during heightened market volatility triggered by recent U.S. tariff announcements.

In brief
Bhutan’s national digital ID platform will issue credentials through Ethereum.
The system, initially built with Cardano developer IOG, is scheduled to undergo a full migration by early 2026.
Observers warn that putting national IDs on public blockchains might raise privacy risks despite greater transparency.
Bhutan has integrated its National Digital Identity platform with the Ethereum blockchain, making the Himalayan kingdom the first country to anchor a live, population-scale identity system on a public network.

The transition enables the NDI platform to issue verifiable credentials and link decentralized identifiers to Ethereum’s validator network. Citizens will be able to cryptographically prove attributes such as age, residency, or citizenship without relying on centralized databases. The system’s full migration is scheduled for completion by early 2026.

“Decentralized digital identity empowers people by giving them more secure control over their data and their online lives,” Vitalik Buterin, co-founder of Ethereum, said in a statement shared with Decrypt.

Bhutan’s “embrace of an open architecture on Ethereum” resonates with how the chain sees its purpose of driving “meaningful, positive change through open-source technology,” Buterin added.

Launched in 2023, the system initially used W3C identity standards and operated in partnership with Input Output Global, the developer of Cardano, as part of early testing in self-sovereign identity. Bhutan’s crown prince, Jigme Namgyel Wangchuck, later became Bhutan’s first digital citizen, symbolizing the program’s national rollout.

Decrypt reached out for further comment to Bhutan’s sovereign wealth arm, Druk Holding & Investments, the Ethereum Foundation, and IOG, formerly known as IOHK, but did not immediately receive a response.

A double-edged sword?The move “shows that governments are finally waking up to the idea that identity doesn’t have to be centralized to be trusted,” Kirill Avery, founder and CEO of Alien, a decentralized network for real humans and verifiable AI agents, told Decrypt.

Bhutan has become one of the few governments to apply blockchain technologies at a national scale. Through DHI, the country has developed projects in Bitcoin mining, digital asset management, and decentralized identity.

But putting national IDs “directly on a public chain like Ethereum” could be “a double-edged sword,” Avery said. “Transparency is good for auditability, but not for privacy.”

Once credentials live on-chain, “they live forever, and that permanence can quickly turn into surveillance if not handled with extreme care,” he added.

There is a need for digital identity systems to “strike a far harder balance, being verifiable without being traceable,” he said.

“Bhutan’s experiment might push other governments to think beyond control and toward interoperability, but true self-sovereign identity can’t exist on infrastructure that anyone, including the state, can unilaterally monitor.” 

The rise of Bhutan on the blockchainEarlier this year, Bhutan’s planned Special Administrative Region outlined a proposal to hold Bitcoin and Ethereum as part of its strategic reserves to support its broader digital finance strategy.

Months later, Bhutan’s Tourism Council partnered with Binance Pay to integrate crypto payments across its tourism ecosystem, allowing visitors to pay for bookings, hotels, and local services using digital assets as part of the government’s push to modernize tourism infrastructure and promote Bhutan as a crypto-friendly destination.

Bhutan is the fifth-largest country holding Bitcoin, with around 6,370 BTC valued at approximately $725 million, according to data from Arkham. That places slightly above El Salvador, which holds about 6,349 BTC worth roughly $720 million at current prices.

However, the government’s Bitcoin balance has gradually declined from roughly 13,000 BTC in late 2024 to current levels. Bhutan’s Ethereum holdings are smaller by comparison at just 656 ETH, worth around $2.73 million.

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In a market shaken by liquidations and fear, one chart pattern on Dogecoin’s higher time frame continues to whisper a story most traders seem to be missing. According to crypto analyst Cantonese Cat, the monthly DOGE structure still forms the handle of a larger cup-and-handle formation that has been developing since 2021.

Dogecoin Cup and Handle Still Targets $2
Despite Friday’s sharp crash across altcoins, the analyst argues there’s “no technical damage.” His chart shows that the handle wick retraced as far as the 0.382 logarithmic Fibonacci level before rebounding to hold the 0.618 retracement as support, preserving the symmetry of the broader bullish setup that points toward the long-discussed $2 extension zone.

“This is a handle to the cup that wicked as far down as the 0.382 log fib but is currently holding 0.618 back as support. There is no technical damage in the greater scheme of things. Only emotional damage,” Cantonese Cat wrote via X.

Dogecoin cup and handle pattern | Source: X @cantonmeow
The chart maps a rounded base from the 2021–2023 decline into a mid-2023–2024 upswing that peaked at the 1.000 Fibonacci marker at $0.48442 in December 202, thereby completing the “cup.”

Price has since carved the “handle,” with Friday’s crash extending below the 0.382 retracement at $0.11771 before recovering above the 0.618 at $0.20205. At the time of the snapshot, DOGE traded at $0.20568 on the monthly candle, down 11.74% for the period, with open, high, and low printed at $0.23304, $0.27043, and $0.10305, respectively.

The immediate inflection remains the 0.618 pivot near $0.20205; sustained acceptance above that shelf keeps the handle constructive. Overhead, the 0.707 and 0.786 retracements—$0.24770 and $0.29681—frame the next resistance band. A close through those levels would re-expose the prior swing zone around the 0.886 at $0.37315 and the 1.000 at $0.48442.

Cantonese Cat’s roadmap also includes standard Fibonacci extensions derived from the completed cup. The 1.272, 1.414, and 1.618 projections sit at $0.90288, $1.24968, and $1.99344, respectively. The latter aligns with the widely cited “$2” objective and is the technical anchor behind the analyst’s headline claim.

On the downside, the 0.500 at $0.15422 and 0.382 at $0.11771 mark the key retracement supports already stress-tested by the month’s wick; a decisive monthly close below 0.382 would compromise the handle symmetry, but that condition has not been met on the current candle.

Altcoin Momentum Also Still Intact
To contextualize last week’s washout across altcoins, the analyst published a second monthly chart of the “OTHERS” market-cap index (total crypto market cap excluding the top 10). The panel overlays 20-period Bollinger Bands and shows a classic squeeze preceding an abrupt spike in realized volatility.

According to the readout, the index opened the month near $300.19 billion, posting a high at $332.18 billion and a capitulation low at $156.59 billion before rebounding to $270.35 billion. Notably, that recovery carried back above the 20-month moving average—the Bollinger middle band—currently at $264.88 billion, after wicking to the lower band at $167.44 billion.

The upper band resides at $362.31 billion. Arrows on the chart highlight a near-identical pattern during the March 2020 COVID deleveraging: a monthly lower-band wick within a band squeeze that preceded a sustained upside cycle once the candle reclaimed the mid-band.

OTHERS Bollinger Bands analysis | Source: X @cantonmeow
In commentary accompanying the charts, Cantonese Cat likened the weekend’s crypto drawdown to a“COVID-like deleveraging.” He wrote: “What happened this past weekend with altcoins is very similar to the deleveraging that happened in COVID based on technicals, with monthly Bollinger band squeeze and wicking down to lower Bollinger band. These moves are necessary for us to move up if the bull market is not over yet.”

He also pointed to US small-cap equities—via the Russell 2000 ETF (IWM)—as evidence of broader risk appetite, arguing that small caps’ V-shaped rebound from their own lower Bollinger Band and approach toward all-time highs helps explain why Bitcoin miners are outperforming spot cryptocurrencies. In his view, market-wide liquidity exists, but clearing excess leverage in altcoins was a precondition for the next leg higher.

At press time, DOGE traded at $0.21124.

DOGE needs to rise above the 0.236 Fib again, 1-day chart | Source: DOGEUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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Changpeng “CZ” Zhao has thrust a fast-escalating on-chain mystery into the center of Bitcoin’s news cycle, amplifying an investigation that alleges a single Hyperliquid trader—long rumored to control more than 100,000 Bitcoin—both catalyzed and profited from last Friday’s violent deleveraging. “Not sure of validity. Hope someone can cross check,” CZ wrote on X as he quote-posted a 12-part thread by pseudonymous researcher Eye that attempts to tie the “Hyperliquid/Hyperunit whale” to former BitForex chief executive Garrett Jin.

Not sure of validity. Hope someone can cross check. https://t.co/SPN26EXtaw

— CZ 🔶 BNB (@cz_binance) October 12, 2025

This Is The Infamous Bitcoin Whale
The timing and profitability are not in dispute. Multiple market dashboards indicate the whale’s short bet—opened on Hyperliquid only minutes before the US–China tariff headlines hit—was closed for roughly $192 million in profit, after which a fresh ~$160 million notional Bitcoin short was reportedly opened over the weekend.

What Eye adds is a chain of attribution. The thread claims that, across August–September, the whale rotated more than $4.23 billion worth of Bitcoin into ETH on Hyperliquid using both spot and perpetuals, then funneled over 570,000 ETH into staking, ultimately interacting with a custom deposit contract.

Eye further asserts that fee funding for the address that placed the now-famous ~$735 million Bitcoin short can be traced—via a set of intermediary wallets and a Binance deposit address—to an ENS identity, “ereignis.eth,” which Eye says resolves to a second ENS, “garrettjin.eth,” and ultimately to Jin’s public X account.

In Eye’s telling, the Bitcoin provenance fans out to old withdrawals from HTX/Huobi, OKX, ViaBTC, Bixin and Binance from seven to eight years ago, a period overlapping Jin’s early-crypto resume. None of this, Eye concedes between the lines, is a signed confession; it is a linkage map built from address reuse, ENS pointers and funding paths.

Jin effectively acknowledged he is the individual in Eye’s crosshairs—while rejecting the most explosive insinuations. “Hi @cz_binance, thanks for sharing my personal and private information. To clarify, I have no connection with the Trump family or @DonaldJTrumpJr — this isn’t insider trading,” he wrote on Monday.

Hi @cz_binance, thanks for sharing my personal and private information. To clarify, I have no connection with the Trump family or @DonaldJTrumpJr — this isn’t insider trading.

— Garrett (@GarrettBullish) October 13, 2025

He followed with a multi-part explanation of the team’s bearish posture going into the move, arguing that the crash was telegraphed by a blend of macro, cross-asset correlation and structural leverage signals rather than privileged political intel.

“From a technical analysis perspective, US tech stocks, A-shares tech stocks, and major cryptocurrencies have all shown overbought signals, such as MACD divergence,” Jin posted, adding that “cryptos and US tech stocks historically have a high positive correlation,” and that his internal models had thrown “risk alerts” amid rising US–China trade frictions since late September.

He also contended that extreme retail leverage on non-cash-flowing crypto assets made a liquidity spiral inevitable, and proposed that exchanges adopting “a stabilization fund-like mechanism, similar to US equities, [to] provide liquidity support during crises” would reduce repeat blow-ups.

At press time, Bitcoin traded at $114,533.

Bitcoin faces the EMA100, 1-day chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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The world’s largest Ethereum treasury company has been buying the dip as its stash reaches a new milestone.

BitMine Immersion Technologies announced on Monday that its Ether holdings had topped 3 million ETH. It now owns greater than 2.5% of the ETH token supply, “now at the halfway point as it moves toward the ‘Alchemy of 5%’,” it stated.

The company’s Ether, crypto, and cash holdings were worth $12.9 billion as of October 13, and nearly all of that is ETH. It also holds 192 BTC and stakes in several crypto companies.

🧵

BitMine provided its latest holdings update for Oct 13, 2025:

$12.9 billion in total crypto + “moonshots”:

– 3,032,188 ETH at $4,154 per ETH (Bloomberg)

– 192 Bitcoin (BTC)

– $135 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and

– unencumbered…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) October 13, 2025

Ethereum DATs Keep Buying
“The crypto liquidation over the past few days created a price decline in ETH, which BitMine took advantage of,” said Tom Lee of Fundstrat, and chairman of BitMine.

The firm purchased 202,037 tokens over the past few days, pushing its holdings to 3,032,188 ETH. Lee went on to explain how the leverage flushout and volatility caused panic selling and discounts to asset fundamentals.

“Volatility creates deleveraging, and this can cause assets to trade at substantial discounts to fundamentals, or as we say, ‘substantial discount to the future’ and this creates advantages for investors, at the expense of traders.”

Millions of traders were liquidated when markets tanked following insider whales opening massive short positions just before a major announcement from the US President.

BitMine stock (BMNR) surged more than 8% on Monday to reach $56.85 before dipping slightly in after-hours trading. Shares in the firm have soared a whopping 1,200% since it started accumulating Ether in late June.

“The combined trading volume share of BitMine and MSTR [Strategy] is now 88% of all global DAT trading volume,” added Lee.

TOM LEE BOUGHT $834M $ETH

Bitmine has been buying the dip on ETH. They purchased $834M of $ETH over the past week.

Bitmine currently holds $12.52 BILLION of $ETH, over halfway to their goal of owning 5% of ETH supply. pic.twitter.com/MZaE0inQGJ

— Arkham (@arkham) October 13, 2025

You may also like:

Bitcoin Dominates Fund Flows With $2.67B Influx, But Still Trails 2024’s Peak

Institutions Scoop Up BTC and ETH After Crypto’s Biggest Liquidation Event

Bitcoin Soars Beyond $114K, Ethereum Spikes 6% as US-China Tensions Ease

The second-largest Ether treasury firm is SharpLink Gaming, which hasn’t bought the dip recently but holds 838,727 ETH worth approximately $3.54 billion, according to SER.

Michael Saylor’s Strategy also made an acquisition last week, scooping up 220 BTC for roughly $27 million.

ETH Price Outlook
Ether prices have continued to recover from an intraday dump to $4,060 to reach $4,285 in late trading on Monday. However, it has retreated back to $4,100 during the Tuesday morning Asian trading session and remains within its range-bound channel. Analysts remain bullish for a Q4 or Q1 2026 rally for ETH into five figures.

In related news, Bhutan celebrated a historic milestone on Monday, becoming the first nation to anchor its national digital identity system on Ethereum.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Dow Inc. (NYSE: DOW) between January 30, 2025 and July 23, 2025, both dates inclusive (the "Class Period"), of the important October 28, 2025 lead plaintiff deadline.

So what: If you purchased Dow securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Dow class action, go to https://rosenlegal.com/submit-form/?case_id=44352 or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 28, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

Details of the case: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) Dow's ability to mitigate macroeconomic and tariff-related headwinds, as well as to maintain the financial flexibility needed to support its lucrative dividend, was overstated; (2) the true scope and severity of the foregoing headwinds' negative impacts on Dow's business and financial condition was understated, particularly with respect to competitive and pricing pressures, softening global sales and demand for Dow's products, and an oversupply of products in Dow's global markets; and (3) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Dow class action, go to https://rosenlegal.com/submit-form/?case_id=44352 or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information.

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

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Telstra Group Limited (OTCPK:TLGPY) Shareholder/Analyst Call October 13, 2025 6:30 PM EDT

Company Participants

Nathan Burley - Head of Investor Relations
Craig Dunn
Vicki Brady - CEO, MD & Director
Eelco Blok
David Mark Lamont
Elana Rubin

Conference Call Participants

Elder Tony Garvey

Conversation

Nathan Burley
Head of Investor Relations

Dear shareholders, I am Nathan Burley, Head of Investor Relations, and it is my pleasure to be your emcee today for our 2025 Annual General Meeting.

Before we start official proceedings, I would like to welcome to the stage Elder Tony Garvey.

Elder Tony Garvey

Can we try that again for the traditional owners here today? First of all, I'd just like to thank you for that very warm welcome, and thank you all for inviting me here today. I think it's very important we walk this journey together. Now we are a multicultural society.

I'll start the event off with saying Wominjeka, Wominjeka to everyone. Wominjeka. Wominjeka in the Wurundjeri Woiwurrung language means welcome. So welcome to all indigenous and nonindigenous people here today.

I'd also just like to say I'm very proud and honored to be here today standing tall for my people once again, like I have done for 36 years, and I will continue to do so for the rights of our own country. My great grandfather was the last leader for Wurundjeri. Ngurungaeta in the Wurundjeri Woiwurrung language means last head tries leading our mob out on the mission at Coranderrk, where I live today with my family. He took over from my great, great uncle. My great, great uncle was King Barak. King Barak was our fearless leader that took on the government for land rights in the 1800s, right up to 1903 when he passed. My great grandfather took over leadership of Wurundjeri from there, and he led our mob from 1903 right up to 1924 when the mission

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HONG KONG & LONDON--(BUSINESS WIRE)--Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has appointed Rich Chun as Managing Director, Head of Asia. Based in Hong Kong, Mr. Chun will oversee Tradeweb’s business operations, client engagement efforts and strategic growth initiatives in the Asia Pacific region.

A seasoned fixed income investor and trading leader, Mr. Chun brings over three decades of experience in global markets and a deep understanding of how institutions transfer risk. Reporting to Enrico Bruni and Troy Dixon, Co-Heads of Global Markets, Mr. Chun will work closely with both regional and global product and sales teams to expand Tradeweb’s footprint across Asia. His appointment comes at a time when the firm’s international business continues to set new records with a 41% year-over-year revenue growth in Q2 2025.

Enrico Bruni, Co-Head of Global Markets at Tradeweb, said: “Tradeweb’s success has always been rooted in listening to our clients and helping them navigate evolving markets. Rich Chun brings extensive industry insight to help us deepen those relationships and deliver even more value to the local investment community. His strong track record in both portfolio management and execution gives him a unique perspective on the needs of institutional traders, as we enter the next chapter of our growth story in Asia.”

Most recently, Mr. Chun served as a Managing Director and Portfolio Manager at HPS Investment Partners, where he established the firm’s Hong Kong office. Previously, he was a Portfolio Manager at Claren Road Asset Management, where he helped shape the firm’s strategy in the region. Earlier in his career, he spent 14 years at Citigroup in various trading roles, including Head of Credit Trading for Asia.

Commenting on his appointment, Mr. Chun said: “I am honoured to join Tradeweb at such a dynamic time for financial services in Asia. Tradeweb has earned its reputation as a trusted partner and innovator across asset classes, and I look forward to engaging with our talented team and clients to develop new technologies that help unlock new opportunities and efficiencies.”

Troy Dixon, Co-Head of Global Markets at Tradeweb, said: “As financial markets become increasingly electronified and interconnected, I am excited to welcome Rich to our Asia team to continue scaling our local business. Bringing him on-board reflects our commitment to investing in top talent and extending our capabilities in the region, which will be instrumental in driving our strategic goals forward.”

Tradeweb has built a strong presence in Asia Pacific with offices in Hong Kong, Shanghai, Singapore, Sydney and Tokyo. The firm was the first to pioneer electronic access to China’s bond market with the launch of Northbound Bond Connect in 2017, followed by Tradeweb CIBM Direct Link in 2020, Southbound Bond Connect in 2021, and Swap Connect in 2023. In 2008, Tradeweb introduced Yen interest rate swaps (IRS) and Japanese Government Bonds (JGBs) to its platform, helping to drive the electronification of both markets. In the first three quarters of 2025, total traded volume in Yen IRS and JGBs rose by 67.3% and 24.6% year-over-year, respectively. In 2024, Tradeweb collaborated with the Tokyo Stock Exchange to expand liquidity access for Japan-listed ETFs.

About Tradeweb Markets

Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 50 products to clients in the institutional, wholesale, retail and corporates markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves more than 3,000 clients in more than 85 countries. On average, Tradeweb facilitated more than $2.4 trillion in notional value traded per day over the past four fiscal quarters. For more information, please go to www.tradeweb.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the federal securities laws. Statements related to, among other things, our outlook and future performance, the industry and markets in which we operate, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions and future events are forward-looking statements.

We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. These and other important factors, including those discussed under the heading “Risk Factors” in the documents of Tradeweb Markets Inc. on file with or furnished to the SEC, may cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements contained in this release are not guarantees of future events or performance and future events, our actual results of operations, financial condition or liquidity, and the development of the industry and markets in which we operate, may differ materially from the forward-looking statements contained in this release. In addition, even if future events, our results of operations, financial condition or liquidity, and events in the industry and markets in which we operate, are consistent with the forward-looking statements contained in this release, they may not be predictive of events, results or developments in future periods.

Any forward-looking statement that we make in this release speaks only as of the date of such statement. Except as required by law, we do not undertake any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this release.

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Goldman Sachs is scheduled to report third-quarter earnings before the opening bell Tuesday.

Here's what Wall Street expects:

Earnings per share: $11, according to LSEGRevenue: $14.1 billion, according to LSEGTrading revenue: Fixed Income of $3.19 billion, Equities of $3.9 billion, per StreetAccountInvesting banking fees: $2.15 billion, per StreetAccountGoldman Sachs is set up to be a beneficiary of several trends in the third quarter.

Trading desks across Wall Street have benefitted as President Donald Trump's tariff policies have roiled markets for bonds, currencies, commodities and stocks.

Investment banking activity including mergers and IPOs has gained steam, with revenue climbing 22% in the third quarter from a year earlier, per Dealogic.

Finally, stocks at or near record highs bodes well for the firm's asset and wealth management division.

Goldman Sachs gets the majority of its revenue from Wall Street activities including trading and investment banking. That can lead to outsized returns during boom times and underperformance when markets don't cooperate.

On Monday, the company announced it was acquiring Industry Ventures, a venture capital firm with $7 billion in assets under supervision, to bolster its asset management division.

Shares of the bank have climbed 37% this year.

JPMorgan Chase, Wells Fargo and Citigroup also release earnings Tuesday, with Bank of America and Morgan Stanley releasing results Wednesday.

This story is developing. Please check back for updates.

HAMILTON, BERMUDA, October 14, 2025 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today provides the following business update: