Market Signal Briefing

Billionaire investor Chamath Palihapitiya recently spotlighted a fundamental limitation in Bitcoin that he believes could block its widespread use by central banks. In discussions around global finance, Palihapitiya pointed out that the cryptocurrency’s fully transparent blockchain creates permanent records of every transaction.

This traceability means certain coins can become “tainted” if linked to past illicit activity, eroding true fungibility—where one unit is perfectly interchangeable with another.

He also emphasized the absence of meaningful privacy, arguing these gaps prevent Bitcoin from serving as a discreet, reliable structural reserve asset akin to gold.

Without these qualities, central banks are unlikely to integrate it deeply into their holdings, confining Bitcoin largely to retail investors and exchange-traded funds rather than sovereign balance sheets.

This critique aligns closely with fresh observations from hedge fund titan Ray Dalio.

In early March appearances, including on major podcasts, Dalio urged investors to stop equating Bitcoin with gold as a safe-haven asset.

He noted Bitcoin’s lack of central bank endorsements, its vulnerability to surveillance due to transparency, and potential future risks like quantum computing breakthroughs that could compromise security.

Dalio, who maintains a small personal allocation to Bitcoin, views it as a speculative risk asset rather than a crisis hedge, predicting it will underperform gold during market stress because institutions prefer the latter’s established privacy and physical attributes.

Digital asset advocate Anthony Pompliano pushed back strongly against these reservations.

In detailed responses and analyses released shortly after Dalio’s remarks, Pompliano described such skepticism as outdated, rooted in perspectives from years ago rather than current market realities.

He argued that evolving data on institutional inflows, technological layers for enhanced privacy, and growing sovereign interest demonstrate Bitcoin’s resilience.

Pompliano maintained that concerns over central bank adoption overlook Bitcoin’s fixed supply and proven track record, positioning it for continued expansion beyond retail circles.

Bitcoin supporters express unwavering confidence in broader adoption. Jack Dorsey, founder of Block, continues supporting Bitcoin not merely as digital gold but as practical everyday money.

Through initiatives at Cash App and Lightning Network enhancements, he envisions seamless peer-to-peer spending becoming standard, with fees minimized or eliminated to drive mass transactional use.

Coinbase CEO Brian Armstrong highlights accelerating institutional momentum, noting that roughly half of major financial players are now engaging with crypto.

At global forums like Davos, he has stressed Bitcoin’s superior independence as a decentralized protocol—free from any single issuer—while advocating for supportive regulations and potential strategic reserves to integrate digital assets into traditional finance.

Elon Musk has signaled optimism through platform developments, describing upcoming features on X involving crypto integration as a “once-in-a-generation opportunity” and financial game-changer.

With Tesla and SpaceX maintaining Bitcoin holdings, his vision ties the asset to broader payment and investment ecosystems.

BitMEX co-founder Arthur Hayes forecasts substantial price growth fueled by macroeconomic liquidity, targeting around $250,000 by the end of 2026 and potentially $500,000 to $750,000 the following year amid expanded fiscal policies.

Strategy executive chairman Michael Saylor, a leading corporate adopter, projects consistent 30% annual appreciation over the next two decades.

He frames Bitcoin as superior digital capital, driving corporate treasury strategies and even digital credit markets to unlock trillions in value.

While privacy and fungibility debates persist, the collective outlook from these influential figures underscores Bitcoin’s trajectory toward deeper integration, supported by innovation, institutional demand, and macroeconomic tailwinds. The coming years will test whether technological upgrades can address lingering concerns or if gold retains its reserve edge.

The security architecture surrounding Bitcoin continues to evolve as new infrastructure emerges to support self-custody and advanced on-chain protections. A notable step in this direction is the integration between Babylon Labs and Ledger. By combining Babylon’s protocol-level vault system with Ledger’s hardware wallet security, the collaboration seeks to strengthen how users store, manage, and interact with BTC in decentralized environments.

How Babylon And Ledger Aim To Strengthen Bitcoin Self-Custody The Babylon platform is expanding access to Trustless Bitcoin Vaults through a new integration with Ledger. According to the Babylon Labs post on X, once the integration goes live in the second half of the year, users will be able to authorize BTCVault transactions directly from a ledger device using clear signing. This will allow 8 million Ledger users to review and approve vault operations on a secure hardware screen.

These Trustless BTC Vaults are anchored directly on the BTC base layer and enable external applications to verify that BTC collateral remains locked in place while enforcing predefined collateralization conditions. This vault architecture utilizes cryptographic mechanisms to execute rules, such as unlocking funds or triggering a liquidation event, rather than relying on discretionary control.

By combining Babylon’s vault architecture with Ledger’s secure signing infrastructure, BTCVault workflows can connect with the hardware security that many BTC holders already rely on for self-custody. As part of the broader rollout, Ledger devices will also support Babylon’s native asset, BABY, on Ledger devices.

A Familiar Pattern Emerges In Bitcoin’s Orderbook Data As noted by Crypto analyst Ardi, the latest order book data is showing a pattern that has appeared at key moments in the market before. Currently, asks on Bitcoin have climbed to a two-month high, with roughly $1.57 billion in sell-side liquidity stacked above the current price compared with about $1.125 billion in bids below. This shift indicates around 40% more supply than demand within 5% of the market price.

Ardi pointed out that the last time the asks reached a similar high level was during the retest that followed the $98,000 fakeout in January. In that case, BTC briefly broke above the fakeout range, price re-entered it, and then retested the level while the sell-side liquidity accumulated heavily above the retest price.

Source: Chart from Ardi on X Now, the BTC market structure appears to be retesting after the $72,000 fakeout, with orderbook data showing a similar signature. In this setup, bids below the price act as a support cushion, while asks above the price form a resistance wall.

When Asks liquidity spikes to multi-month highs during a retest, it suggests that participants are using price rebounds as opportunities to sell into strength. However, Ardi cautions that orderbook liquidity can be removed at any time, and the recurring pattern of elevated asks during post-fakeout retests has shown a specific track record on this chart.

BTC trading at $69,529 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com

Among the leading cryptocurrencies getting a boost in today's session, the price action we're seeing in Internet Computer (ICP +8.21%) is truly remarkable. As of 4:30 p.m. ET, Internet Computer has seen its token price surge 8.4% to its highest level in a month.

Today's Change

(

8.21

%) $

0.20

Current Price

$

2.65

Now, part of today's rally in this top-50 token by market capitalization can be tied to positive momentum seen across all digital assets. The overall market capitalization of the crypto sector edged higher today, by around 0.5% at the time of writing. With that said, it's clear that Internet Computer is among the leading mid-cap tokens driving a decent portion of today's move.

Here's what investors can glean from today's price action and the direction of travel for Internet Computer moving forward.

Key listing catalyst drives nice rally

Image source: Getty Images.

Today's key driver is a listing of Internet Computer on the Upbit exchange, which most investors are closely watching. This South Korean exchange is the largest in the country, and with trading set to include several top trading pairs, investors appear to be clamoring for greater volume and liquidity. In general, these factors do drive supply and demand fundamentals in a bullish direction, and this is certainly a vote of confidence for Internet Computer and its team in validating this project's underlying model.

Additionally, open interest for derivatives tied to Internet Computer jumped more than 40% over yesterday, signaling added leverage to this ongoing momentum trade. In other words, so long as we don't see any significant marketwide sell-offs in the coming days, investors appear to feel safe placing larger bets on this token appreciating rapidly, which may be encouraging to long-term holders.

Of course, the overall sentiment of crypto investors remains tepid at the moment, and even for projects like Internet Computer with strong underlying fundamentals, I'm unclear about the broader direction of travel for this sector. But for today at least, there are plenty of catalysts for Internet Computer investors to grasp onto.

Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool recommends Internet Computer. The Motley Fool has a disclosure policy.

TL;DR

Bitwise analysts say Bitcoin could reach $1 million if it captures a larger share of the global store-of-value market. The firm estimates that this market is currently worth nearly $38 trillion, largely dominated by gold. If it expands toward $121 trillion over the next decade, Bitcoin would only need to secure around a 17% share to justify a seven-figure valuation.
Bitcoin’s long-term valuation is once again a topic of discussion as investors search for assets that protect purchasing power. According to asset manager Bitwise, Bitcoin’s limited supply and decentralized structure position it as a credible store-of-value asset in a market historically led by gold.

Despite trading roughly 40% below its previous all-time high, Bitcoin continues to attract institutional attention. Bitwise analysts say the long-term price outlook depends on adoption as a store of value, rather than short-term market volatility.

Bitcoin Store Of Value Thesis Gains Momentum Bitwise Chief Investment Officer Matt Hougan outlines a valuation framework based on the size of the global store-of-value market. The method begins by estimating the total value of assets used mainly to preserve wealth. Gold currently represents about $36 trillion, while Bitcoin accounts for roughly $1.4 trillion.

Under this model, Bitcoin controls slightly less than 4% of the market, leaving substantial room for expansion if investors increasingly treat it as a digital alternative to gold.

A central element in the thesis is Bitcoin’s fixed supply of 21 million coins. Because supply cannot expand to meet demand, price movements can accelerate when new capital enters the market.

Recent developments also support this view. The launch of spot Bitcoin ETF in the United States in 2024 opened the door for pension funds, wealth managers, and institutional investors that previously faced operational or regulatory limitations.

Expanding Store Of Value Market Supports Long Term Outlook Hougan’s analysis also assumes that the store-of-value market itself will grow significantly in the coming years. Rising sovereign debt levels, inflation concerns, and currency debasement fears have already pushed investors toward scarce assets over the past two decades.

Bitwise estimates that the global store-of-value market could approach $121 trillion within about ten years. If that happens, Bitcoin would not need to dominate the sector to justify a $1 million price.

Instead, capturing around 17% of the total market could be sufficient. While this would represent a major shift in global asset allocation, Bitwise argues that improving infrastructure, stronger custody services, and clearer regulations are making institutional participation easier.

Bitcoin (BTC)

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Ahmed Balaha

Author

Ahmed Balaha

Part of the Team Since

Aug 2025

About Author

Ahmed Balaha is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.

Has Also Written

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Last updated: 

19 minutes ago

The U.S. inflation numbers are finally out, and markets are trying to figure out what they mean for Bitcoin price.

The February Consumer Price Index (CPI) came in exactly where economists expected. Inflation rose 0.3% month over month, while the annual rate held around 2.4%.

Core inflation, which strips out food and energy, increased 0.2%, also matching forecasts.

CPI 0.3% MoM, Exp. 0.3%
CPI Core 0.2% MoM, Exp. 0.2%

CPI 2.4% YoY, Exp. 2.4%
CPI Core 2.5% YoY, Exp. 2.5%

— zerohedge (@zerohedge) March 11, 2026 Because the data landed right on expectations, the market reaction has been relatively muted so far. Bitcoin briefly moved higher after the report, climbing from around $69,000 to nearly $69,800 before easing back toward the $69,300 area.

For traders, the bigger story is what the inflation data means for the Federal Reserve. Since the numbers matched forecasts, many analysts now expect the Fed to keep interest rates unchanged at the upcoming FOMC meeting next week.

Interest rate expectations often play a major role in crypto markets. Higher rates tend to tighten liquidity and pressure risk assets, while stable or falling rates usually support investor appetite for assets like Bitcoin.

Bitcoin Price Prediction: Where is BTC Going Now?From a chart perspective, Bitcoin is still moving inside the recovery structure that started after the bounce from the $60,000 lows earlier this year.

Since that rebound, the market has been forming higher lows along a rising trendline. But one level keeps getting in the way.

Source: BTCUSD / TradingViewThe $72,000 zone has been acting like a ceiling. Bitcoin recently tried to break above it but could not hold the move and slipped back below the level.

Right now BTC is sitting just under that resistance while still holding above the rising support trendline. As long as that structure stays intact, another push toward $72,000 is still on the table.

If bulls finally clear that level, the next upside targets sit around $80,000, then $84,000, and potentially the $90,000 area if momentum builds.

On the downside, the key support to watch is around $64,000. That area sits close to the rising trendline that has supported the recovery since the $60,000 bottom.

If that level breaks, the structure weakens, and the market could slide back toward $60,000.

Bitcoin Hyper Is Turning Bitcoin From a Store of Value Into Something You Can Actually UseMacro headlines like the latest U.S. inflation report tend to move Bitcoin for a moment. Traders react, price jumps a bit, then the market settles back into its usual rhythm.

But behind all the noise, one reality about Bitcoin has not changed. It is powerful, trusted, and incredibly secure, yet it is still slow and limited when it comes to everyday use.

That is the exact problem Bitcoin Hyper ($HYPER) is trying to solve.

Instead of treating Bitcoin as a passive asset that people simply hold and watch, Bitcoin Hyper aims to unlock what the network can actually do.

The idea is simple but powerful.

Combine Bitcoin security with the speed and efficiency normally seen on high-performance chains like Solana.

That opens the door for real activity on top of Bitcoin. Faster payments, staking opportunities, decentralized apps, and an ecosystem where BTC can actually move instead of sitting idle.

Investors are clearly paying attention to that vision. The Bitcoin Hyper presale has already raised more than $32 million, with $HYPER currently priced at $0.0136751 before the next scheduled price increase.

There is also a strong incentive for early participants. Buyers can stake their tokens and earn rewards of up to 37%, the kind of yield that often attracts early momentum when new projects start gaining traction across the market.

Visit the Official Bitcoin Hyper Website Here

This week, Sonic Labs introduced USSD, a U.S. Treasury–backed stablecoin designed to serve as the native source of stable liquidity across the Sonic network and support on-chain financial activity throughout its ecosystem. It is is built on Frax’s GENIUS-compatible frxUSD stablecoin infrastructure, providing Sonic with a network-native stablecoin supported by institutional-grade backing.

USSD reserves are composed of tokenized treasuries from financial institutions including BlackRock, WisdomTree, and Superstate. By leveraging Frax’s infrastructure, USSD brings transparent and scalable Treasury-based collateral to the Sonic ecosystem, intended to support lending, trading, and on-chain financial applications while aligning stablecoin usage with the network’s long-term growth.

It is backed by U.S. Treasury bills and is mintable 1:1 with USDC, enabling seamless conversion from USDC. Using Frax’s infrastructure, USSD can be redeemed back to USDC on any CCTP-supported chains, providing a familiar and reliable on and off-ramp for stable value within the Sonic ecosystem. 

Subject to applicable KYC/AML requirements and issuer approval, eligible users can redeem the stablecoins directly for U.S. dollars to their bank accounts. This launch represents the initial phase of a broader rollout to establish it as an aligned stablecoin supporting the vertical integration initiative on Sonic.

USSD is designed to be accessible from the outset, with users able to mint and use the stablecoin without caps as part of Sonic’s vertically integrated approach. Using Layer Zero interoperability, USSD enables users to mint USSD from more than 10 chains directly to Sonic. As adoption grows, revenue generated through its issuance and usage is intended to flow back into the Sonic ecosystem, providing buybacks, incentives and more. It is important for Sonic’s long term value that new revenue streams beyond the S token are established and leveraged to support this growth.

Samuel Harcourt, core contributor at Sonic Labs, said,

“USSD is a foundational step in our vertical integration initiative. USSD will enable Sonic to tap into institutional yield at the base layer and build a more resilient ecosystem with external incentives and buybacks. 

“By introducing a network-native stablecoin backed by real-world assets, Sonic Labs is enabling stable liquidity that supports long-term growth while maintaining the transparency and reliability users expect.”

Sam Kazemian, founder and CEO of Frax, added, 

“Sonic is building core primitives that prioritize their network’s capital efficiency. A native stablecoin is a foundational part of that. Frax white-label stablecoins like USSD are built from first principles to be fully backed, transparent, and to forward underlying Treasury yield back to DeFi partners. Our infrastructure gives Sonic a productive base asset with cross-chain reach, fiat on-ramps, and our five-year security track record.”

Solana stablecoin transfers surge 3.2× year-over-year to $972B as $SOL consolidates between $77 and $92 with bullish signals emerging.

Solana’s stablecoin transfer volume has surged dramatically over the past year, signaling growing adoption and network activity. Transfers jumped from $306 billion to $972 billion year-over-year, reflecting a 3.2× increase. 

Moreover, recent months show accelerated momentum, with December to January rising 77% and January to February increasing 76%, marking two consecutive months of near-doubling activity. This surge highlights Solana’s growing relevance in decentralized finance and stablecoin usage.

SOL Price Consolidates Between $77 and $92Solana’s native token, $SOL, is currently trading in a clear accumulation range between $77 and $92. According to CryptoJobs3, buyers have repeatedly defended the $77 support, indicating strong demand absorption after prior downtrends. 

Meanwhile, the $90–$92 zone acts as short-term resistance. A decisive breakout above this level could trigger bullish momentum in the coming weeks. 

Source: X

Additionally, maintaining higher lows within the accumulation range may set the stage for a retest of the $108–$110 supply zone. Traders should watch for volume expansion and confirmed daily closes above $92 before targeting higher levels.

Indicators Signal Potential UptrendCryptoCurb highlights a bullish divergence forming on Solana’s daily charts. While $SOL printed a lower low near $80, the RSI formed a higher low, signaling fading selling pressure. 

Immediate resistance sits at $90, and a daily close above this level could confirm short-term strength. Beyond $90, the next key supply area lies between $115 and $120, aligning with prior weekly and monthly resistance. Conversely, support remains solid around $78–$82, providing a stable base for potential upward moves.

Market Metrics and OutlookAs of press time, Solana trades at $87.12 with a 24-hour volume of $4.08 billion. Despite a minor weekly decline of 5.58%, daily momentum shows early signs of improvement. With a circulating supply of 570 million SOL, the market capitalization stands near $49.7 billion.

ENRICH your inbox with our best storiesDon’t miss out and join our newsletter to get the latest,
well-curated news from the crypto world!

Izabela Anna is a knowledgeable freelance journalist, who boasts over five years of experience covering the cryptocurrency market. Her tenure has seen her navigate through the ebbs and flows of multiple market cycles, giving her a deep understanding within. Her journalistic focus lies in dissecting price action dynamics, scrutinizing the on-chain landscape, and providing insights from a technical perspective, making her a trusted voice in the realm of cryptocurrency reporting.

Read more about

Latest Solana (SOL) News Today

Despite the ongoing tensions in the Middle East, the crypto market continues to show remarkable resilience.

Beyond the ongoing war, other top crypto stories in the past 48 hours include strong XRP ETF flows and Hyperliquid’s expansion into prediction markets. 

Here’s a full breakdown of the top headlines that shaped crypto markets today. 

Bitcoin stalls at $70K as oil stabilizes Bitcoin extended its price recovery to nearly 10% and topped $70K earlier in the week, as oil prices dropped from over $100 to $85 over the weekend. 

Source: BTC vs. Oil price, TradingView  The relief rally this week followed the International Energy Agency’s (IEA) plans to tap its massive oil reserves if the Strait of Hormuz blockade extends. 

Despite the BTC rebound and speculation of a behind-the-scenes push to end the U.S.-Israel vs. Iran war, the market remained overly fearful.

According to the Crypto Fear and Greed Index (CFGI), the market was still in the deep ‘extreme fear’ of 15. 

Put differently, traders were not in a full risk-on mode and were probably waiting for a clear resolution of the West Asia crisis before re-entering the market.

‘Super fans’ lift XRP ETFs to $1.4B Spot XRP ETFs also hit headlines for resilience, with a whopping $1.4 billion in cumulative flows since they debuted last November. 

Interestingly, over the same period, XRP dropped by over 40% amid a broader bear market. Yet, the products held pretty well, similar to spot SOL ETFs. 

Commenting on the same, Bloomberg ETF analyst Eric Balchunas said, 

Traditionally, inflows are near impossible for ETFs having a reverse shiny object moment, and especially if they are brand new. My guess is this is largely XRP super fans vs casual retail.

Source: Bloomberg  However, SOL ETFs are split almost equally between institutions and retail investors. In contrast, XRP ETFs are primarily held by retail investors, with institutions accounting for 16% of holdings, according to recent 13F filings. 

Hyperliquid’s HIP-4 goes live on testnet Finally, Hyperliquid HIP-4 has gone live on the testnet, bringing the popular DEX closer to its vision for prediction markets. 

After the successful rollout of HIP-3 (real-world assets, RWA, tokenization), which boomed amid ongoing geopolitical tensions, Hyperliquid set its eyes on prediction markets and Options market support via HIP-4. 

Non-crypto assets, through HIP-3, now drive over 30% of Hyperliquid’s volume. It is unclear whether HIP-4 will replicate the success of HIP-3. That said, Coinbase analyst Colin Basco noted the HYPE price could move higher if it clears the $35 resistance. 

Source: HYPE/USDT, TradingView  Looking forward, the market will shift focus to the China-U.S. preparatory meeting on March 14-15, ahead of the President Xi Jinping and Donald Trump summit by the end of the month. The outcome of the meetings would set the tone for the macro and geopolitical landscape. 

Final Summary Bitcoin’s recovery was fueled by easing energy markets, but the asset stalled at $70K.  XRP ETFs have shown resilience, with a record $1.4B in cumulative flows, driven primarily by retail. 

TL;DR

Solana records historic on-chain activity, including massive stablecoin transfer volumes and a rising number of wallets holding tokenized real-world assets. Despite these strong fundamentals, SOL’s price performance remains modest, rising about 2% weekly while Bitcoin gains 4% and Ethereum 3%. At the same time, Solana-based ETF products register $17 million in net outflows, marking the first negative flows since February and signaling short-term institutional rotation.
Solana posts some of its strongest network metrics to date, even as its market performance trails other large cryptocurrencies. The contrast shows how blockchain usage and short-term price movements do not always move together.

RECAP: ⚡$SOL lagged core cryptos and TradFi investors pulled back, even as Solana posted record on-chain metrics this week.
What’s driving the divergence?

Read on for more.🧵

1/7 pic.twitter.com/vlIvwh9MDV

— CoinMarketCap (@CoinMarketCap) March 11, 2026

SOL trades around $87.30, gaining about 1.41% over the last 24 hours. On a weekly basis the asset rises roughly 2%, according to market tracking data, while Bitcoin climbs about 4% and Ethereum increases close to 3%.

Solana On-Chain Activity Reaches Record Levels While price performance remains moderate, activity across the Solana network expands rapidly. Blockchain analytics platforms estimate that the chain processes roughly $650 billion in stablecoin transfers during February, marking the highest monthly level ever recorded on the network.

Some datasets place the broader stablecoin settlement volume on Solana near $1.4 trillion out of the approximately $1.8 trillion recorded across all blockchains that month. The figures place Solana among the leading infrastructures for digital dollar movement and settlement.

Growth also appears in tokenized real-world assets. Data providers report that about 154,942 wallets on Solana hold tokenized assets linked to real-world instruments. That figure slightly exceeds Ethereum’s roughly 153,592 wallets, marking the first time Solana moves ahead in this category.

The expansion reflects a broader trend where faster and lower-cost blockchains attract financial platforms experimenting with tokenized securities, funds, and credit markets.

ETF Flows And Price Performance Diverge Despite the strong network data, institutional flows into Solana-linked exchange-traded funds turn negative. Data from Farside Investors indicates roughly $17 million in net outflows from SOL ETF products since March 5, ending a streak of positive inflows that had lasted several weeks.

Most of the withdrawals appear concentrated in a small number of funds. Fidelity’s FSOL records about $11 million in outflows across two trading sessions, while additional withdrawals occur in products from VanEck and Grayscale.

Even with the recent decline, total inflows into the six Solana ETF products remain substantial. Combined inflows approach $952 million since launch, compared with about $449 million in seed capital.

Institutional ownership remains largely concentrated among crypto investment firms, trading desks, and quantitative funds rather than retail investors. Regulatory filings show positions from Electric Capital, Goldman Sachs, and Multicoin Capital among the largest holders.

Market Analysis XRP

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Tim Hakki

Web 3 Journalist

Tim Hakki

Part of the Team Since

Feb 2024

About Author

A journalist and copywriter with a decade's experience across music, video games, finance and tech.

Has Also Written

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Last updated: 

4 minutes ago

Global geopolitical tensions may be rattling markets, but after some carefully calibrated prompting, DeepSeek AI suggests the three biggest cryptocurrencies could still be heading for a very bullish year.

Its data-driven outlook draws on improving technical indicators, positive industry developments, and a regulatory environment that is slowly becoming clearer.

Here’s why DeepSeek’s predictions are gaining attention.

XRP (XRP): DeepSeek AI Predicts an Explosive Move SoonIn a recent update, Ripple reiterated that XRP ($XRP) remains central to its long-term strategy to transform the XRP Ledger (XRPL) into a global payments infrastructure designed for enterprise adoption.

Source: DeepSeekRipple designed XRPLedger (XRPL) for extremely fast and low-cost transactions, while giving the network an early advantage in two rapidly expanding sectors: stablecoins and tokenized real-world assets.

XRP is currently trading around $1.40, and DeepSeek suggests the asset could potentially rise toward $8 before year-end, producing gains of nearly 6x.

Chart patterns also support the possibility of a breakout. XRP forms a bullish flag pattern between recent support and resistance levels, often foreshadowing bullish price action.

It’s mid-to-long-term narrative hinges on continued institutional inflows through recently launched U.S. XRP exchange-traded funds (ETFs), Ripple’s expanding global partnerships, and the possibility that the CLARITY Act could be approved by Congress this year.

Bitcoin (BTC): DeepSeek AI Says Bitcoin Will Be $260k By ChristmasBitcoin ($BTC) reached an all-time high (ATH) of $126,080 on October 6 before losing nearly half its value in the following months.

Source: DeepSeekRegardless, DeepSeek’s analysis indicates Bitcoin could still be on track for substantial growth, potentially peaking at $266,000 by 2027.

Often referred to as digital gold, Bitcoin continues attracting investors who view it as both a diversification tool and a hedge against inflation and global economic instability.

Bitcoin capitalizes $1.4 trillion of the $2.4 trillion cryptocurrency market. Its recent decline coincided with heightened geopolitical tensions involving the United States, Iran, and Greenland, although the subsequent armed conflict did little to spook investors.

Additionally, if Donald Trump delivers his promise to create a U.S. Strategic Bitcoin Reserve, the “Bitcoin to $1 million” scenario becomes plausible.

Ethereum (ETH): Will Ether Hit Five Digits This Year?Ethereum ($ETH) is the dominant smart contract platform serving as the backbone of decentralized financ (DeFi).

Source: DeepSeekWith a market capitalization approaching $248 billion and around $55 billion TVL, Ethereum is the primary settlement layer blockchain commerce.

The network’s strong security, its leadership in stablecoins, and its growing involvement in real-world asset tokenization all support the case for broader institutional adoption.

However, regulatory clarity plays a critical role in future growth. The passage of the CLARITY Act in the United States could provide the legal framework institutions require before deploying lots of capital on chain.

ETH is currently trading slightly above $2,000. Significant resistance lies at $5,000 range, close to its previous ATH of $4,946.05 recorded last August.

If Ethereum decisively breaks through $5,000, DeepSeek sits it rising to a new high watermark of $7,500.

Maxi Doge: Enter Dogecoin’s Risk-Loving, Hard Pumping CousinIf a new bull run emerges, meme coins could absorb the most hype, as they historically amplify market price trends.

One new meme coin attracting attention is Maxi Doge ($MAXI). It already raised $4.7 million through its ongoing presale as investors speculate it could eventually challenge BONK, Floki and even Dogecoin.

Maxi Doge introduces himself as Dogecoin’s louder, risk-on gym bro cousin, leaning into the viral “degen” internet culture that helped fuel the meme coin explosion during the 2021 bull market.

MAXI is an ERC-20 asset on Ethereum’s proof-of-stake blockchain, giving it a smaller environmental footprint compared with Dogecoin’s proof-of-work design.

Early presale investors can currently stake MAXI tokens for 67% APY, although those yields gradually decline as the staking pool grows.

MAXI currently sells for $0.0002808, with nominal increases planned through each funding round.

To participate, you can visit the official website and connect a supported wallet such as Best Wallet.

Purchases can also be made using a bank card.

Visit the Official Website Here

Jack Henry & Associates, Inc. (JKHY) Wolfe Research FinTech Forum March 11, 2026 2:15 PM EDT

Company Participants

Gregory Adelson - CEO, President & Director

Presentation

Unknown Analyst

I'll go ahead and get started. First of all, again, thanks, everybody, for being here for day 2 of the Wolfe FinTech Forum. Really happy to have Jack Henry with us, a company that we've been recommending for some time now and really constructive on it, given it's really just invested in itself the right way and continues to add technology, add product and really take market share. And so with that, thank you for being here, Greg, the CEO of the company, really took over as CEO a couple of years ago now?

Gregory Adelson
CEO, President & Director

20 months.

Question-and-Answer Session

Unknown Analyst

So it's been about 2 years almost. And just start there perhaps. I mean, when you compare where Jack Henry stands today versus when you stepped into the seat, I mean, what do you view as the most meaningful changes in the positioning, culture, execution? And then just looking ahead, Greg, I mean, if you look at the company and where it's evolving over the next year or 2, why don't we start there, it would be great.

Gregory Adelson
CEO, President & Director

Yes. So just a little background. I've been with the company for 15 years. So I would say from a culture standpoint and from a service standpoint, we have a 50-year history of doing all the things that are right by our associates, which ends up driving service. So I haven't done anything to impact that other than I think we've done a good job of improving some of those areas. Our engagement scores are the highest they've ever been. Our service scores are the highest they've ever been. But

THOUSAND OAKS, Calif.--(BUSINESS WIRE)---- $WAL #AmeriHomeMortgage--AmeriHome Mortgage, a Western Alliance Bank (NYSE: WAL) company, today announced a $100,000 donation to the MBA Opens Doors Foundation to help vulnerable families with critically ill or injured children meet their mortgage or rental obligations while their child receives treatment. The Mortgage Bankers Association (MBA) established the MBA Opens Doors Foundation in 2011 to support families in need. AmeriHome has been a major donor since 2018, contributing.

, /PRNewswire/ -- Frontier Airlines, Inc., a subsidiary of Frontier Group Holdings, Inc. (NASDAQ: ULCC), today announced that Jimmy Dempsey, President and CEO, will participate in a moderated discussion hosted by Jamie Baker at the JP Morgan 2026 Industrials Conference on Tuesday, March 17, 2026, at 9:30am EDT.

The event will be webcast and may be accessed through a link posted to the Company's investor relations website at https://ir.flyfrontier.com/news-and-events/events. The webcast will be archived for 30 days and will be accessible through the same website address.

About Frontier Airlines

Frontier Airlines, Inc., a subsidiary of Frontier Group Holdings, Inc. (NASDAQ: ULCC) is committed to delivering "Low Fares Done Right." Headquartered in Denver, Colorado, Frontier operates the largest A320neo family fleet in the U.S., which is also among the youngest and most fuel-efficient. With its expanding network, rewarding loyalty program, and bold new product offerings, Frontier is redefining low-fare travel and building The New Frontier as America's High-Value Airline.

SOURCE Frontier Group Holdings, Inc.

March 11, 2026 17:16 ET  | Source: GlobalFoundries Inc.

MALTA, N.Y., March 11, 2026 (GLOBE NEWSWIRE) -- GlobalFoundries (Nasdaq: GFS) (GF) today announced the launch of a secondary public offering of 20,000,000 ordinary shares to the public and approximately $300 million of ordinary shares to be repurchased by GF, as described below. All of the shares in the offering are being offered by Mubadala Technology Investment Company (the “Selling Shareholder”). The Selling Shareholder is a wholly owned subsidiary of Mubadala Investment Company PJSC (which, together with its affiliates, is GF's largest shareholder). The Selling Shareholder is expected to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 of GF's ordinary shares (equal to 15% of the initial ordinary shares being sold to the public) at the public offering price minus underwriting discounts and commissions.

GF is not selling any ordinary shares in the offering and will not receive any proceeds from the sale of the shares being offered by the Selling Shareholder.

GF intends to concurrently repurchase from the underwriters approximately $300 million of the Selling Shareholder’s ordinary shares at a price per share equal to the price paid by the underwriters in the offering (the “Share Repurchase”). The Share Repurchase will be executed as part of the $500 million share repurchase authorization approved by the Board of Directors of GF in February 2026. GF intends to fund the Share Repurchase with cash on its balance sheet. GF expects the closing of the Share Repurchase to occur substantially simultaneously with the closing of the offering. The closing of the Share Repurchase is conditioned on the closing of the offering. The closing of the offering is not conditioned on the closing of the Share Repurchase. The Share Repurchase is not contingent on any exercise of the underwriters' option to purchase additional shares in the offering, and any such exercise will not have any impact on the amount or price of the Share Repurchase. The underwriters are not receiving any discount or commission with respect to the ordinary shares being repurchased by GF pursuant to the Share Repurchase.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as lead book-running managers for the offering.

The offering of these securities is being made only by means of a prospectus. A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) and has become effective. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. A copy of the preliminary prospectus relating to the offering, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] and [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at [email protected] or by accessing the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About GlobalFoundries
GF is a leading manufacturer of essential semiconductors the world relies on to live, work and connect. We innovate and partner with customers to deliver more power-efficient, high-performance products for the automotive, smart mobile devices, internet of things, communications infrastructure and other high-growth markets. With our global manufacturing footprint spanning the U.S., Europe, and Asia, GF is a trusted and reliable source for customers around the world. Every day, our talented, global team delivers results with an unwavering focus on security, longevity, and sustainability.

©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. or its subsidiaries. All other trademarks are the property of their respective owners.

Forward-Looking Statements
This press release includes “forward-looking statements” that reflect our current expectations and views of future events. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding the terms, timing and expected completion of the offering and the Share Repurchase. These statements are based on current expectations, assumptions, estimates, forecasts, projections and limited information available at the time they are made. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” “outlook,” “on track,” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a broad variety of risks and uncertainties, both known and unknown, including regarding market conditions, our business and the Selling Shareholder. Any inaccuracy in our assumptions and estimates could affect the realization of the expectations or forecasts in these forward-looking statements. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events, or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events. For a discussion of potential risks and uncertainties, please refer to the risk factors and cautionary statements in our 2025 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. Copies of our SEC filings are available on our Investor Relations website, investors.gf.com, or from the SEC website, www.sec.gov.

Investor Contact:Media Contact:[email protected]@globalfoundries.com

VANCOUVER, British Columbia, March 11, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE American: EGO)  (“Eldorado” or the “Company”) today announced the mailing of a joint management information circular (the “Circular”) for the meetings of Eldorado shareholders and shareholders of Foran Mining Corporation (“Foran”) to be held in connection with Eldorado's previously announced combination with Foran (the “Transaction”). In addition to being mailed to Eldorado and Foran securityholders, the Circular has been posted on the Company's website at www.eldoradogold.com and filed on SEDAR+ at www.sedarplus.com under the Company's profile.

ANI Pharmaceuticals, Inc. (ANIP) Barclays 28th Annual Global Healthcare Conference March 11, 2026 3:00 PM EDT

Company Participants

Nikhil Lalwani - President, CEO & Director
Stephen Carey - Senior VP of Finance & CFO

Conference Call Participants

Glen Santangelo - Barclays Bank PLC, Research Division

Presentation

Glen Santangelo
Barclays Bank PLC, Research Division

Okay. Good afternoon, everyone. Thank you for joining us. For our next presentation, we're excited to have ANI Pharmaceuticals here with us. Representing the company to my right is Nikhil Lalwani, who's the President and Chief Executive Officer of the company; and to his right, Stephen Carey is the Chief Financial Officer of the company. For those of you who don't know me, I'll just quickly introduce myself. My name is Glen Santangelo. I'm the analyst at Barclays responsible for the specialty pharmaceuticals sector, among a few other things.

But again, we're very happy to have you here, Nikhil and Stephen. So thank you guys very much for taking the time out of your schedules.

Nikhil Lalwani
President, CEO & Director

Thank you, Glen, and thank you for having me.

Question-and-Answer Session

Glen Santangelo
Barclays Bank PLC, Research Division

Okay. Excellent. So why don't we just sort of dive right into it? I mean, 2025 was just a great year for the company. And I finally think that we can sort of reposition you no longer as a generics company that has rare disease assets. We're now going to call you a rare disease company that also happens to have a generics business as you cross that 50% threshold. So congratulations on that milestone.

Maybe a good place to start is if you just want to sort of level set everybody and talk about 2025 and the momentum you had sort of into the end of the year

Sandisk Corporation (SNDK) 2026 Cantor Global Technology & Industrial Growth Conference March 11, 2026 2:50 PM EDT

Company Participants

David V. Goeckeler - Chairman & CEO
Luis Visoso - Executive VP & CFO

Conference Call Participants

Christopher Muse - Cantor Fitzgerald & Co., Research Division

Presentation

Christopher Muse
Cantor Fitzgerald & Co., Research Division

Well, excellent. Good afternoon. My name is C.J. Muse. I cover semiconductor, semiconductor equipment with Cantor Fitzgerald. Very pleased to have the team from Sandisk, David Goeckeler, CEO; and Luis Visoso, CFO. Welcome. Good to have you both here.

David V. Goeckeler
Chairman & CEO

C.J., great to be here. Thanks for having us.

Christopher Muse
Cantor Fitzgerald & Co., Research Division

I think, Luis, you have something you'd like to read.

Luis Visoso
Executive VP & CFO

Yes. Hi, everyone. We'll be making forward-looking statements in today's discussions based on management's current assumptions and expectations, including with respect to our technology and product portfolio, our business plans and performance, market trends and opportunities and our future financial results.

These forward-looking statements are subject to risks and uncertainties. We assume no obligation to update these statements. Please refer to our annual report on Form 10-K and our other filings with the SEC for more information on the risks and uncertainties that could cause actual results to differ materially from expectations. We will also be making reference to non-GAAP financials and a reconciliation of our GAAP to non-GAAP financials can be found on our website.

Christopher Muse
Cantor Fitzgerald & Co., Research Division

Perfect.

Luis Visoso
Executive VP & CFO

Thank you.

Christopher Muse
Cantor Fitzgerald & Co., Research Division

So Dave, congrats on a 1-year plus anniversary.

David V. Goeckeler
Chairman & CEO

Thank you.

Question-and-Answer Session

Christopher Muse
Cantor Fitzgerald & Co., Research Division

The world has seismically shifted for NAND in

Peter Grom
UBS Investment Bank, Research Division

All right. Well, good afternoon, everyone. Welcome to the UBS Global Consumer and Retail Conference here in New York City. My name is Peter Grom. I am the U.S. consumer staples analyst here at UBS. And we are very excited to have joining us this afternoon, John Faucher, Executive Vice President and Head of M&A and Chief Investor Relations Officer from Colgate-Palmolive.

Over the past few years, Colgate has implemented several strategic initiatives that resulted in improved financial delivery. Recently, the company outlined their 2030 strategy that will help the company deliver strong and top and bottom line growth looking ahead. In terms of format for today, I have a number of questions that I plan to ask John for the first 35 minutes or so for the last 10 to 15 minutes, if there's any questions that you all have, please feel free to submit them. They'll show up here on this iPad, I'd be happy to ask any questions on your behalf.

Before we start, however, I am required to read a legal disclaimer. As a research analyst, I'm required to provide certain disclosures relating to the nature of my own relationship and that of UBS with any company on which I express a view on this call today. These disclosures are available at www.ubs.com/disclosures. Alternatively, please reach out to me, and I can provide them to you after the call.

So with that, John, thanks for joining us today.

Q4: 2026-03-10 Earnings SummaryEPS of $0.32 beats by $0.09

 |

Revenue of

$664.51M

(9.77% Y/Y)

beats by $30.88M

CES Energy Solutions Corp. (CEU:CA) Q4 2025 Earnings Call March 11, 2026 11:00 AM EDT

Company Participants

Anthony Aulicino - Executive VP & CFO
Kenneth Zinger - President, CEO & Director

Conference Call Participants

John Gibson - BMO Capital Markets Equity Research
Keith MacKey - RBC Capital Markets, Research Division
Jonathan Goldman - Scotiabank Global Banking and Markets, Research Division

Presentation

Operator

Hello, and welcome to the CES Energy Solutions Fourth Quarter 2025 Results Conference Call. [Operator Instructions]

I would now like to turn the conference over to Tony Aulicino, Executive Vice President and CFO. You may begin.

Anthony Aulicino
Executive VP & CFO

Good morning, everyone, and thank you for attending today's call. I'd like to note that in our commentary today, there will be forward-looking financial information and that our actual results may differ materially from the expected results due to various risk factors and assumptions. These risk factors and assumptions are summarized in our annual information form, fourth quarter MD&A and press release dated March 10, 2026. In addition, certain financial measures that we will refer to today are not recognized under current general accepted accounting policies. And for a description and definition of these, please see our fourth quarter MD&A.

At this time, I'd like to turn the call over to Ken Zinger, our President and CEO.

Kenneth Zinger
President, CEO & Director

Thank you, Tony. Welcome, everyone, and thank you for joining us for our fourth quarter and full year 2025 earnings call. On today's call, I will provide a brief summary of our financial results release yesterday, followed by an update on capital allocation and then our outlook for 2026 and finally, our divisional updates for Canada and the U.S. I will then pass the call over to Tony to provide a detailed financial update, we will take questions, and then we will wrap up the

LONG BEACH, Calif., March 11, 2026 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) (the “Company”) announced today the pricing of an upsized private offering of $350 million in aggregate principal amount of its 7.000% senior unsecured notes due 2034 (the “Notes”). The offering size was increased from the previously announced $250 million aggregate principal amount. The Notes were priced at 100.500% of par, plus accrued and unpaid interest from October 8, 2025. The Notes will mature on January 15, 2034, pay interest at the rate of 7.000% per year and are payable semi-annually on January 15 and July 15 of each year. The first interest payment will be made on July 15, 2026. The Offering is expected to close on March 23, 2026, subject to customary closing conditions.

The Notes are being offered as additional notes under the indenture dated as of October 8, 2025, as may be supplemented from time to time (the “Indenture”), pursuant to which the Company previously issued $400 million aggregate principal amount of 7.000% Senior Notes (the “Existing Notes”). The Notes will have substantially identical terms, other than the issue date and issue price, as the Existing Notes, and the Notes and the Existing Notes will be treated as a single series of securities under the Indenture and will vote together as a single class. Except with respect to Notes offered pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), the Notes will have the same CUSIP and ISIN numbers as, and will be fungible with, the Existing Notes immediately upon issuance.

The Company intends to use the net proceeds from this offering, together with cash on hand and/or borrowings under its revolving credit facility, to fund the redemption of $350 million in aggregate principal amount of its 8.250% senior unsecured notes due 2029 (the “2029 Notes”) at a redemption price of 100% thereof, plus the Applicable Premium (as defined in the indenture governing the 2029 Notes) as of, and accrued and unpaid interest to, but excluding, the date of redemption. The redemption of the 2029 Notes is expected to be conditioned on the completion of the offering of the Notes. The offering of the Notes is not contingent upon completion of such redemption.

The Notes have not been, and will not be, registered under the Securities Act or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws. The Notes were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any Notes, nor shall there be any offer, solicitation or sale of Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Additionally, this press release shall not constitute a notice of redemption under the indenture governing the 2029 Notes.

Forward-Looking Statement Disclosure

All statements, except for statements of historical fact, made in this release regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as statements regarding the proposed offering and the intended use of proceeds, including the partial redemption of the 2029 Notes, are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, the Company expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.

The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to the Company’s business, most of which are difficult to predict and many of which are beyond the Company’s control. These risks include, but are not limited to, the risks described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

About California Resources Corporation

California Resources Corporation (CRC) is an independent energy and carbon management company advancing the energy transition. CRC is committed to environmental stewardship while safely providing local, responsibly sourced energy. CRC is also focused on maximizing the value of its land, mineral ownership, and energy expertise for decarbonization by developing carbon capture and storage and other emissions-reducing projects.

CRC Contacts:

Interior Secretary Doug Burgum discussed oil production today in an interview on CNBC's “Power Lunch.”

Vancouver, British Columbia--(Newsfile Corp. - March 11, 2026) - Highway 50 Gold Corp. (TSXV: HWY) (the "Company") is pleased to announce that it has increased the size of its non-brokered private placement previously announced on February 18, 2026 and February 23, 2026 (the "Offering"). The Company will now raise gross proceeds of up to $2,414,000 in the Offering via the issuance of up to 6,035,000 units (each, a "Unit") of the Company at a purchase price of $0.40 per Unit. Each Unit will consist of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one common share (a "Warrant Share") of the Company at a purchase price of $0.50 per Warrant Share for a period of one year from the closing date of the Offering.

The proceeds of the Offering will be used for: (i) a drill program at the Company's Gold Knob project, and (ii) general working capital purposes. The Offering is subject to the acceptance of the Exchange.

The securities issued pursuant to the Offering will be subject to a four-month hold period in accordance with applicable securities laws and the rules of the Exchange. Finder's fees of 6% (or such other amount as determined by the Company) may be paid to arm's length finders in cash and/or finder's warrants on some or all of the proceeds raised in the Offering.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

On behalf of the Board of Directors of Highway 50 Gold Corp.
Gordon P. Leask, President, Chief Executive Officer and Director

About Highway 50 Gold Corp.

Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and mine finders. The Company is executing an exploration plan refined over 35 years of experience in Nevada. The exploration focus on its projects are a result of what management believes to be breakthroughs in the understanding of north-central Nevada's crustal architecture.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note This news release contains certain forward-looking statements, including statements regarding the Offering; the Company's ability to complete the Offering and receive acceptance from the Exchange to the completion of the Offering; the Company's proposed plans for the exploration of the Gold Knob project; and the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the Company does not complete all or any part of the Offering; the Company does not receive regulatory acceptance to the Offering; changes in metal prices, changes in the availability of funding, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ martially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf, unless otherwise required pursuant to applicable laws.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288155

Source: Highway 50 Gold Corp.

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

Blast Furnace Shutdown Completed; Fully Transitioned to EAF Steelmaking

Fourth Quarter Results In-Line with Previously Announced Expectations

SAULT STE. MARIE, Ontario, March 11, 2026 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of steel plate and hot rolled sheet products, today announced results for the three and twelve month periods ended December 31, 2025.

Unless otherwise specified, all amounts are in Canadian dollars.

Business Highlights and 2025 to 2024 Fourth Quarter Comparisons

Consolidated revenue of $455.0 million, compared to $590.3 million in the prior-year quarter.Consolidated loss from operations of $449.7 million, compared to a loss of $124.8 million in the prior-year quarter.Net loss of $364.7 million, compared to net loss of $66.5 million in the prior-year quarter.Adjusted EBITDA loss of $95.2 million and Adjusted EBITDA margin of (20.9%), compared to a loss of $60.3 million and (10.2%) in the prior-year quarter (see “Non-GAAP Measures” below).Cash flows used in operating activities of $3.0 million, compared to a use of $76.9 million in the prior-year quarter.Shipments of 378,533 tons, compared to 548,802 tons in the prior-year quarter. Business Highlights and 2025 to 2024 Full Year Comparisons

As previously reported, the Company has changed its fiscal year end from March 31 to December 31, resulting in a transitional nine month fiscal reporting period ending December 31, 2024. In order to present full year comparisons, the Company has compiled the 12 months ended December 31, 2024 by adding the nine month period ended December 31, 2024 to the 3 month period ended March 31, 2024.

Consolidated revenue of $2,085.7 million, compared to $2,461.7 million in the prior-year.Consolidated loss from operations of $1,326.2 million, compared to a loss from operations of $217.8 million the prior-year.Net loss of $984.9 million, compared to net loss of $139.0 million in the prior-year.Adjusted EBITDA loss of $261.4 million and Adjusted EBITDA margin of (12.5%), compared to Adjusted EBITDA gain of $22.4 million and Adjusted EBITDA margin of 0.9% in the prior-year (see “Non-GAAP Measures” below).Cash flows used in operating activities of $66.1 million, compared to cash flows generated by operating activities of $82.3 million in the prior year.Shipments of 1,739,493 tons, compared to 2,023,363 tons in the prior-year. Rajat Marwah, the Company’s Chief Executive Officer, commented, “The fourth quarter marked a pivotal moment in Algoma's transformation. While the 50% U.S. Section 232 tariffs (S232 Tariffs) created real headwinds, closing the American market to Canadian producers and driving domestic pricing well below historical norms, we responded with decisive action and emerged with a clearer, stronger strategic path forward.”

Mr. Marwah continued, “Operationally, we are encouraged by the early performance of our first electric arc furnace (EAF). The facility is now operating on a continuous 24-hour schedule, with furnace and melt shop systems performing as designed and product quality meeting specifications across both plate and hot-rolled coil grades. Successfully producing high-quality sustainable steel from the EAF at scale represents a critical milestone in our multi-year transition and reinforces our confidence in the long-term benefits of the new operating platform.”

Michael Moraca, the Company’s Chief Financial Officer commented, “The recently announced $500 million government liquidity facility strengthens our balance sheet as we ramp up EAF steelmaking and provides financial flexibility to pursue strategic opportunities supporting Canada’s emerging first-tier industrial and defense supply chains.”

Mr. Marwah concluded, “As Canada’s sole producer of discrete plate, supported by our new EAF platform and modernized plate mill, Algoma is well positioned to play an important role in developing domestic steel capability for key strategic sectors while creating long-term value for our stakeholders.”

Fourth Quarter 2025 Financial Results

Fourth quarter revenue totaled $455.0 million, compared to $590.3 million in the prior year quarter. As compared with the prior year quarter, steel revenue was $407.5 million, compared to $535.7 million, and revenue per ton of steel sold was $1,202, compared to $1,076.

Loss from operations was $449.7 million, compared to a loss of $124.8 million in the prior-year quarter. The year-over-year increase was primarily due to tariff costs and lower steel shipments, particularly due to the S232 Tariffs. The increase was also affected by the accelerated transition to EAF steelmaking, resulting in an increase in depreciation and stranded inventory charges, both non-cash items, as well as severance costs. This was offset, in part, by a decrease in administrative and selling expenses.

Net loss in the fourth quarter was $364.7 million, compared to a net loss of $66.5 million in the prior-year quarter. In addition to the factors described for operating loss, the increase was driven by foreign exchange loss, change in fair value of Initial Public Offering (IPO) Warrant and Large Enterprise Tariff Loan (LETL) Warrant liabilities, change in fair value of derivative, and change in fair value of share-based compensation liability. This was offset, in part, by an increase in income tax recovery and insurance proceeds.

Adjusted EBITDA in the fourth quarter was a loss of $95.2 million, compared with a loss of $60.3 million for the prior-year quarter. This resulted in an Adjusted EBITDA margin of (20.9%). Average realized price of steel net of freight and non-steel revenue was $1,077 per ton, compared to $976 per ton in the prior-year quarter. Cost per ton of steel products sold was $1,332 compared to $1,032 in the prior-year quarter. Shipments for the fourth quarter decreased by 31.0% to 378,533 tons, compared to 548,802 tons in the prior-year quarter. See “Non-GAAP Measures” below for an explanation of Adjusted EBITDA and a reconciliation of net loss to Adjusted EBITDA.

Full Year 2025 Financial Results

Revenue for the year 2025 totaled $2,085.7 million, compared to $2,461.7 million the prior year. Steel revenue for the year 2025 was $1,878.4 million, compared to $2,240.2 million the prior year, and revenue per ton of steel sold for 2025 was $1,199, compared to $1,217 the prior year.

Loss from operations in 2025 was $1,326.2 million, compared to a loss of $217.8 million the prior year. The year-over-year increase was primarily due to reduced shipping volume, a non-cash impairment loss and tariff costs, particularly due to the S232 Tariffs. The increase was also affected by the accelerated transition to EAF steelmaking, resulting in an increase in depreciation, severance costs, and stranded inventory.

Net loss for 2025 was $984.9 million, compared to a net loss of $139.0 million the prior year. In addition to the factors described for operating loss, the increase was driven by foreign exchange loss, partially offset by an increase in income tax recovery, change in fair value of IPO Warrant and LETL Warrant liabilities, insurance proceeds, and change in fair value of share-based compensation liability.

Adjusted EBITDA loss in 2025 was $261.4 million, compared with an Adjusted EBITDA gain of $22.4 million the prior year. This resulted in an Adjusted EBITDA margin of (12.5%) for 2025. The average realized price of steel net of freight and non-steel revenue was $1,080 per ton for 2025, compared to $1,107 per ton in the prior year.  Cost per ton of steel products sold in 2025 was $1,216, compared to $1,054 in the prior year. Shipments for 2025 decreased by 14.0% to 1,739,493 tons, compared to 2,023,363 tons the prior year.  See “Non-GAAP Measures” below for an explanation of Adjusted EBITDA and a reconciliation of net loss to Adjusted EBITDA.

Electric Arc Furnace

Since achieving first arc and first steel production in early July, commissioning and ramp-up activities for Algoma's EAF project have continued to progress in-line with expectations. The operational furnace and associated melt shop assets are performing as designed, with quality metrics achieved across a broad range of plate and hot-rolled coil product grades. The Q-One power system and other critical process components have demonstrated stable and reliable performance, supporting consistent metallurgical quality and process control.

During the fourth quarter of 2025, the Company transitioned EAF operations to a full 24-hour-per-day schedule, a significant step forward from the limited operating cadence maintained in the prior period. This acceleration coincided with the Company's decision to wind down its blast furnace and coke oven operations ahead of the originally planned 2027 timeline, with production through that route ceasing shortly after December 31, 2025. All liquid steel produced is now coming from the EAF facility. To align its product strategy with the realities of the current Canadian market, Algoma intends to focus on the manufacturing and sale of discrete plate and will scale back coil production as the EAF ramps up.

Following completion of the EAF transformation, Algoma's facility is expected to have an annual raw steel production capacity of approximately 3.7 million tons, matching its downstream finishing capacity, and is projected to reduce annual carbon emissions by approximately 70% from pre-EAF levels.

Trade Environment and Strategic Response

Throughout 2025, Algoma continued to be impacted by U.S. trade actions, including a 50% tariff on steel imports under Section 232 of the Trade Expansion Act of 1962. These measures have significantly restricted access to the U.S. market for Canadian producers, leading to an oversupply of steel coil in Canada and sustained price compression across domestic markets.

Canadian transactional pricing during the quarter was up to 40% lower than comparable U.S. levels across many product categories, reducing revenue by approximately $27.0 million for the three months ended December 31, 2025. Direct tariff costs totaled $60.6 million and $225.0 million for the three and twelve months ended December 31, 2025, respectively, with shipments to the U.S. representing approximately 45% and 51% of total steel volumes for the respective periods.

In response to the prolonged trade disruptions, Algoma's Board of Directors approved a plan to accelerate the decommissioning of the Company's blast furnace and coke oven operations, with production through that route ceasing shortly after December 31, 2025. The Company is now focused on discrete plate production, where it holds a unique market position as Canada's sole producer, while strategically scaling back coil production to align with domestic demand. This strategic pivot is expected to substantially reduce tariff exposure, lower operating costs, and enhance overall cash efficiency as the EAF ramps up.

Algoma secured $500 million in government-backed liquidity support through the Large Enterprise Tariff Loan facility from the Government of Canada and a companion facility from the Province of Ontario (the "LETL Facilities"), which were entered into in November 2025. The LETL Facilities provide near-term financial flexibility to support ongoing operations and advance the Company's transformation as it explores new product diversification opportunities.

Additionally, in January 2026, Algoma announced a binding Memorandum of Understanding with Hanwha Ocean Co. Ltd. (“Hanwha Ocean”), establishing a long-term strategic arrangement with an aggregate potential value of US$250 million, comprised of a US$200 million contribution toward the potential development of a structural steel beam mill and up to US$50 million in anticipated product purchases related to the Canadian Patrol Submarine Project (“CPSP”). This arrangement, which is subject to Hanwha Ocean being awarded and entering into an effective contract under the CPSP and the execution of definitive agreements, represents a meaningful step in Algoma's efforts to diversify its product offerings and customer base within the Canadian market.

Liquidity

At quarter and year end, the Company had cash of $77.5 million, unused availability under its Revolving Credit Facility of $194.5 million and $417 million available to draw under the LETL Facility.

Conference Call and Webcast Details

A webcast and conference call will be held on Thursday, March 12, 2026 at 11:00 a.m. EDT to review the Company’s results for the three and twelve month periods ended December 31, 2025, discuss recent events, and conduct a question-and-answer session.

The live webcast and archived replay of the conference call can be accessed on the Investors section of the Company’s website at ir.algoma.com. For those unable to access the webcast, the conference call will be accessible domestically or internationally by dialing 877-425-9470 or 201-389-0878, respectively. Upon dialing in, please request to join the Algoma Steel Fourth Quarter 2025 Conference Call. To access the replay of the call, dial 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 13758477.

Consolidated Financial Statements and Management's Discussion and Analysis

The Company's audited consolidated financial statements for the twelve month period ended December 31, 2025 and the nine month period ended December 31, 2024, and Management's Discussion & Analysis thereon are available as part of the Company’s Annual Report on Form 40-F under the Company’s profile on the U.S. Securities and Exchange Commission’s (“SEC”) EDGAR website at www.sec.gov and under the Company's profile on SEDAR+ at www.sedarplus.com. These documents, along with the Company’s Annual Information Form, are also available on the Company’s website, www.algoma.com, and shareholders may receive hard copies of such documents free of charge upon request by contacting [email protected].

Cautionary Statement Regarding Forward-Looking Statements

This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”), including statements regarding imposed and threatened tariffs, including the impact, timing and resolution thereof, trends in the pricing of steel, Algoma’s transition to EAF steelmaking, including the progress, costs and timing of completion of the Company’s EAF project, , the Company’s expected annual raw steel production capacity and reduction in carbon emissions following completion of the EAF project, Algoma’s future as a leading producer of green steel, the potential impacts of inflationary pressures, the Company’s ability to preserve and strengthen near-term liquidity and financial flexibility, the potential value and benefits of the strategic relationship with Hanwha Ocean, including the Company’s ability to enter into definitive documentation with respect to the strategic relationship on the terms described or at all, labor availability, global supply chain disruptions on costs, Algoma’s modernization of its plate mill facilities, transformation journey, ability to deliver greater and long-term value, ability to offer North America a secure steel supply and a sustainable future, and investment in its people, and processes, and statements regarding potential borrowings under the Company’s credit facilities, and the Company’s strategy, plans or future financial or operating performance. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “hope,” “strategy,” “future,” “opportunity,” “plan,” “design,” “pipeline,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. Readers should also consider the other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Information” in Algoma’s Annual Information Form, filed by Algoma with applicable Canadian securities regulatory authorities (available under the Company’s SEDAR+ profile at www.sedarplus.com) and with the SEC, as part of Algoma’s Annual Report on Form 40-F (available at www.sec.gov), as well as in Algoma’s current reports with the Canadian securities regulatory authorities and SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Algoma assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Measures

To supplement our financial statements, which are prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IASB”) (“IFRS Accounting Standards”), we use certain non-GAAP measures to evaluate the performance of Algoma. These terms do not have any standardized meaning prescribed within IFRS Accounting Standards and, therefore, may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS Accounting Standards measures by providing a further understanding of our financial performance from management’s perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS Accounting Standards.

Adjusted EBITDA, as we define it, refers to net income (loss) before amortization of property, plant, equipment and amortization of intangible assets, finance costs, interest on pension and other post-employment benefit obligations, income taxes, foreign exchange loss (gain), finance income, carbon tax, changes in fair value of IPO and LETL Warrants, earnout and share-based compensation liabilities and derivative, share-based compensation related to the Company’s Omnibus Long Term Incentive Plan, certain inventory adjustments, impairment loss, legal settlement, severance costs and stranded inventory. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenue for the corresponding period. Adjusted EBITDA is not intended to represent cash flow from operations, as defined by IFRS Accounting Standards, and should not be considered as alternatives to net profit (loss) from operations, or any other measure of performance prescribed by IFRS Accounting Standards. Adjusted EBITDA, as we define and use it, may not be comparable to Adjusted EBITDA as defined and used by other companies. We consider Adjusted EBITDA to be a meaningful measure to assess our operating performance in addition to IFRS Accounting Standards. It is included because we believe it can be useful in measuring our operating performance and our ability to expand our business and provide management and investors with additional information for comparison of our operating results across different time periods and to the operating results of other companies. Adjusted EBITDA is also used by analysts and our lenders as a measure of our financial performance. In addition, we consider Adjusted EBITDA margin to be a useful measure of our operating performance and profitability across different time periods that enhance the comparability of our results. However, these measures have limitations as analytical tools and should not be considered in isolation from, or as alternatives to, net income, cash flow from operations or other data prepared in accordance with IFRS Accounting Standards. Because of these limitations, such measures should not be considered as measures of discretionary cash available to invest in business growth or to reduce indebtedness. We compensate for these limitations by relying primarily on our IFRS Accounting Standards results using such measures only as supplements to such results. See the financial tables below for a reconciliation of net loss to Adjusted EBITDA.

About Algoma Steel Group Inc.

Based in Sault Ste. Marie, Ontario, Algoma is a leading Canadian producer of high-quality plate and sheet steel products, proudly supporting critical sectors including energy, defense, automotive, shipbuilding, and infrastructure. Guided by a purpose to build better lives and a greener future, Algoma is shaping the next generation of sustainable steelmaking in Canada.

With the transition to electric arc furnace (EAF) steelmaking and a modernized plate mill, Algoma is redefining how steel is made in Canada. Powered by Ontario’s clean electricity grid, this transformation represents one of the largest industrial decarbonization initiatives in North America and is expected to reduce carbon emissions by approximately 70%. These advancements provide stability for continued investment in diversification projects aligned with Canada’s evolving needs.

This new chapter also introduces Volta™, the brand for all steel produced through Algoma’s EAF technology. Volta delivers the same trusted performance customers rely on, with significantly lower emissions—produced safely, sustainably, and proudly in Canada.

Building on more than a century of steelmaking expertise, Algoma continues to invest in its people, processes, and technologies to strengthen domestic supply chains and deliver responsible, Canadian-made steel that helps build a better tomorrow.

    Algoma Steel Group Inc.
Consolidated Statements of Financial Position As at,December 31,
2025 December 31,
2024expressed in millions of Canadian dollars   Assets   Current   Cash$77.5  $266.9 Restricted cash0.1  0.1 Taxes receivable206.9  84.3 Accounts receivable, net192.7  227.6 Inventories569.3  879.2 Prepaid expenses and deposits30.4  42.8 Other assets5.5  5.5 Total current assets$1,082.4  $1,506.4 Non-current   Property, plant and equipment, net$1,029.9  $1,662.7 Intangible assets, net0.3  0.5 Other assets3.3  16.6 Total non-current assets$1,033.5  $1,679.8 Total assets$2,115.9  $3,186.2 Liabilities and Shareholders' Equity   Current   Bank indebtedness$170.2  $0.4 Accounts payable and accrued liabilities203.9  319.1 Taxes payable and accrued taxes32.7  41.6 Current portion of other long-term liabilities5.8  3.2 Current portion of governmental loans14.0  25.0 Current portion of environmental liabilities4.7  4.2 Severance cost liability45.8  - IPO Warrant liability2.5  52.2 Earnout liability3.7  10.1 Share-based payment compensation liability14.1  34.5 Total current liabilities$497.4  $490.3 Non-current   Senior secured lien notes$476.6  $498.4 Long-term governmental loans192.3  133.6 Accrued pension liability153.0  178.3 Accrued other post-employment benefit obligation193.0  206.2 Other long-term liabilities70.7  26.7 Environmental liabilities34.3  33.3 Deferred income tax liabilities-  110.9 LETL Warrant liability7.5  - Total non-current liabilities$1,127.4  $1,187.4 Total liabilities$1,624.8  $1,677.7 Shareholders' equity   Capital stock$975.5  $974.8 Accumulated other comprehensive income414.4  439.6 (Deficit) retained earnings(897.9) 102.0 Contributed deficit(0.9) (7.9)Total shareholders' equity$491.1  $1,508.5 Total liabilities and shareholders' equity$2,115.9  $3,186.2          Algoma Steel Group Inc.
Consolidated Statements of Net Loss  Three months ended
December 31, Year ended
December 31, Nine months ended
December 31, 2025
 2024
 2025
 2024
expressed in millions of Canadian dollars, except for per share amounts       Revenue$455.0  $590.3  $2,085.7  $1,841.1         Operating expenses       Cost of sales$839.8  $677.4  $2,750.5  $1,958.4 Administrative and selling expenses19.1  37.7  112.2  103.6 Impairment loss-  -  503.4  - Severance costs45.8  -  45.8  - Loss from operations($449.7) ($124.8) ($1,326.2) ($220.9)        Other (income) and expenses       Finance income($0.2) ($5.4) ($6.6) ($17.8)Finance costs18.8  19.9  72.1  55.5 Interest on pension and other post-employment benefit obligations3.9  5.4  15.8  16.1 Foreign exchange loss (gain)12.5  (43.3) 30.6  (40.5)Other income(26.2) (0.6) (76.2) (32.7)Change in fair value of Initial Public Offering ("IPO") and Large Enterprise       Tariff Loan ("LETL") Warrant liabilities4.9  (7.7) (41.5) 4.0 Change in fair value of earnout liability0.5  (0.5) (5.6) 2.4 Change in fair value of share-based compensation liability1.9  (1.4) (19.8) 5.3 Change in fair value of derivative5.7  -  5.7  -  $21.8  ($33.6) ($25.5) ($7.7)Loss before income taxes($471.5) ($91.2) ($1,300.7) ($213.2)Income tax recovery(106.8) (24.7) (315.8) (46.2)Net loss($364.7) ($66.5) ($984.9) ($167.0)                Net loss per common share       Basic and diluted($3.36) ($0.61) ($9.06) ($1.54)                 Algoma Steel Group Inc.
Consolidated Statements of Cash Flows         Three months ended
December 31, Year ended
December 31, Nine months ended
December 31, 2025
 2024
 2025
 2024
expressed in millions of Canadian dollars       Operating activities       Net loss($364.7) ($66.5) ($984.9) ($167.0)Items not affecting cash:       Depreciation of property, plant and equipment and intangible assets239.3  33.9  355.9  103.4 Deferred income tax expense (recovery)-  3.1  (106.8) 6.5 Pension funding below (in excess of) expense1.4  (3.5) (6.8) (8.2)Post-employment benefit funding in excess of expense(7.6) (2.0) (13.2) (6.0)Unrealized foreign exchange loss (gain) on:       accrued pension liability2.4  (13.5) 8.1  (12.9)post-employment benefit obligations3.1  (14.8) 10.0  (14.0)Finance costs18.8  19.9  72.1  55.5 Severance costs45.8  -  45.8  - Loss on disposal of property, plant and equipment0.2  0.6  0.4  1.7 Interest on pension and other post-employment benefit obligations3.9  5.4  15.8  16.1 Other income(26.2) (0.6) (76.2) (32.7)Accretion of governmental loans and environmental liabilities3.6  2.3  16.0  12.3 Unrealized foreign exchange loss (gain) on government loan facilities3.4  (10.1) 8.5  (9.3)Increase (decrease) in fair value of IPO and LETL Warrant liabilities4.9  (7.7) (41.5) 4.0 Increase (decrease) in fair value of earnout liability0.5  (0.5) (5.6) 2.4 Increase (decrease) in fair value of share-based compensation liability1.9  (1.4) (19.8) 5.3 Impairment loss-  -  503.4  - Other10.0  4.8  25.1  14.7  ($59.3) ($50.6) ($193.7) ($28.2)Net change in non-cash operating working capital38.0  (22.0) 75.1  (5.9)Share-based payment compensation and earnout units settled-  (2.1) -  (2.1)Environmental liabilities paid(0.2) (2.2) (1.0) (2.7)Insurance proceeds for operating expenses18.5  -  53.5  - Cash used in operating activities($3.0) ($76.9) ($66.1) ($38.9)Investing activities       Acquisition of property, plant and equipment($51.5) ($112.4) ($328.5) ($300.1)Insurance proceeds for property damage-  -  15.0  27.9 Proceeds from land sale1.2  -  1.2  - Cash used in investing activities($50.3) ($112.4) ($312.3) ($272.2)Financing activities       Bank indebtedness advanced, net$72.0  $0.1  $171.4  $0.1 Restricted cash-  -  -  3.8 Senior secured lien notes issued, net of underwriter fees-  -  -  472.6 Transaction costs on senior secured lien notes-  -  -  (4.1)Governmental loans received83.4  16.2  99.7  43.6 Governmental loans transaction costs(2.8) -  (2.8) - Repayment of governmental loans(0.1) (3.7) (14.0) (8.7)Interest paid(23.0) (23.6) (48.1) (23.7)Dividends paid-  (7.3) (14.8) (21.5)Other(1.9) 1.3  9.4  1.7 Cash generated by (used in) financing activities$127.6  ($17.0) $200.8  $463.8 Effect of exchange rate changes on cash($1.2) $21.2  ($11.8) $16.3 Cash       Increase (decrease) in cash73.1  (185.1) (189.4) 169.0 Opening balance4.4  452.0  266.9  97.9 Ending balance$77.5  $266.9  $77.5  $266.9                  Algoma Steel Group Inc.
Reconciliation of Net Loss to Adjusted EBITDA
         Three months ended
December 31, Year ended
December 31, Nine months ended
December 31,millions of dollars2025
 2024
 2025
 2024
Net loss($364.7) ($66.5) ($984.9) ($167.0)        Depreciation of property, plant and equipment and amortization of intangible assets239.3  33.9  355.9  103.4 Finance costs18.8  19.9  72.1  55.5 Interest on pension and other post-employment benefit obligations3.9  5.4  15.8  16.1 Income tax recovery(106.8) (24.7) (315.8) (46.2)Foreign exchange loss (gain)12.5  (43.3) 30.6  (40.5)Finance income(0.2) (5.4) (6.6) (17.8)Inventory adjustments(depreciation on property, plant & equipment in inventory and stranded inventory)39.4  4.3  43.8  9.0 Carbon tax8.0  9.0  31.4  31.0 Change in fair value of financial instruments (i)13.0  (10.2) (61.2) 11.1 Share-based compensation(5.1) 3.6  7.4  12.6 Legal settlement0.9  13.7  0.9  13.7 Severance costs45.8  -  45.8  - Impairment loss-  -  503.4  - Adjusted EBITDA (ii)($95.2) ($60.3) ($261.4) ($19.1)Net Loss Margin(80.2%) (11.3%) (47.2%) (9.1%)Net Loss / ton($963.5) ($121.2) ($566.2) ($106.2)Adjusted EBITDA Margin (iii)(20.9%) (10.2%) (12.5%) (1.0%)Adjusted EBITDA / ton($251.5) ($109.9) ($150.3) ($12.1)        (i) Financial instruments at fair value are comprised of IPO and LETL Warrant liabilities, earnout liability, share-based payment compensation liability and derivatives.(ii) See "Non-IFRS Financial Measures" in this Press Release for information regarding the limitations of using Adjusted EBITDA.
(iii) Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue.
                 For more information, please contact:

Michael Moraca
Chief Financial Officer
Algoma Steel Group Inc.
Phone: 705.945.3300
E-mail: [email protected]

Pacira BioSciences, Inc. (PCRX) Barclays 28th Annual Global Healthcare Conference March 11, 2026 2:30 PM EDT

Company Participants

Frank Lee - CEO & Director

Conference Call Participants

Jenna Davidner - Barclays Bank PLC, Research Division

Presentation

Jenna Davidner
Barclays Bank PLC, Research Division

All right. I think we're good to go. Good afternoon, everyone, and thanks for joining us at the Barclays Miami Conference. I'm joined on stage by Pacira Biosciences and representing the company is the Chief Executive Officer, Frank Lee. Thank you for being here with us today.

Question-and-Answer Session

Jenna Davidner
Barclays Bank PLC, Research Division

Maybe just to kick off the conversation, if you could give us a quick overview of the current product portfolio and then maybe walk us through 2025, how things trended relative to what you expected? And maybe within that, 2025 was an important year because for your biggest product, there was the NOPAIN reimbursement implementation in January. So we'll get into some of the more financial-related questions. But with respect to NOPAIN, maybe just talk about what you've learned in the first year of having that in place?

Frank Lee
CEO & Director

Well, Jenna, thanks for having me here, and good to see you all. I have to say, last year, we rolled out our 5x30 strategy for value creation, and that was at a different health care conference, and that was January of last year. And so 5x30, what were those things? It's 3 million patients by year 2030, double-digit top line growth, 5-point expansion in margin, 5 pipeline products and 5 partnerships.

And so if you go from January of last year to now, I'd tell you, what a difference a year makes in terms of the kind of progress we've made and the progress that the team has

Kitco News

The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.