LayerZero Labs is sunsetting Stargate V1, the cross-chain bridging protocol that helped define omnichain DeFi when it launched back in March 2022. The V1 liquidity pools will become inoperable after December 15, 2026, and liquidity providers who don’t withdraw before then risk losing access to their positions.
Zero-fee withdrawals are being enabled to smooth the transition.
What’s happening and why The deprecation stems from LayerZero’s decision to retire its V1 Relayer, the underlying messaging infrastructure that Stargate V1 depends on. Without a functioning relayer, the pools simply can’t operate.
This move is part of a broader 2026 initiative by LayerZero to phase out support for low-activity chains and consolidate resources around its newer technology stack.
Approximately two weeks before the December 15 deadline, V1 messaging will be temporarily paused. Pools will then reopen solely for the purpose of allowing withdrawals. That pause window gives the team time to configure the zero-fee exit mechanism so LPs can pull their funds without getting dinged on the way out.
This deprecation applies exclusively to V1. Stargate V2 and Hydra, LayerZero’s newer protocols, will continue operating as normal.
A brief history of Stargate V1 Stargate V1 holds a notable place in cross-chain infrastructure history. It was the first application ever built on the LayerZero messaging protocol, launching in March 2022. Its unified liquidity pools allowed assets to be transferred across multiple chains without the fragmentation that plagued earlier bridging solutions. The Delta algorithm, Stargate’s proprietary rebalancing mechanism, helped maintain pool health across different networks.
The protocol changed hands in August 2025, when the LayerZero Foundation formally acquired Stargate. As part of that transition, the native token shifted from STG to ZRO at a conversion rate of 1 STG to 0.08634 ZRO.
What LPs need to do If you have liquidity sitting in any Stargate V1 pool, withdraw it before December 15, 2026. The zero-fee withdrawal mechanism removes the usual cost barrier, so there’s no financial penalty for exiting.
LayerZero has recommended that users migrate their positions to more liquid chains like Ethereum, Arbitrum, and BSC when withdrawing.
Market implications and what to watch The impact of this deprecation is likely to be concentrated rather than systemic. The users most affected are long-tail LPs who parked capital in V1 and haven’t actively managed their positions.
The real risk here isn’t market-wide contagion. It’s individual users who miss the deadline. LayerZero is doing what it can with the zero-fee structure and extended timeline, but the responsibility ultimately falls on each LP to act before December 15.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Trump uvedl, že jeho administrativa pracuje na tom, aby Hyperliquid vstoupil do USA „plně v souladu se zákonem“. Možná cesta vede přes regulovaný produkt s Bitnomial a Krakenem, ne přes otevření stávající platformy.
Perpetual futures contracts on the decentralized exchange Hyperliquid have exploded in popularity over the past year, drawing traders with the ability to bet on crypto prices around the clock. However, Hyperliquid’s platform is not currently available to U.S. traders.
Now, President Donald Trump says his administration is working to bring Hyperliquid into the United States "in a fully compliant and legal fashion," raising a deceptively simple question: How?
Last month, Trump said the Commodity Futures Trading Commission would work to bring Hyperliquid into the U.S. Then, crypto exchange Kraken's parent company said it was working with the CFTC to offer registered U.S. users access to a selection of crypto perps linked to markets on Hyperliquid and its underlying Layer 1 blockchain through Bitnomial, a CFTC-regulated platform.
That arrangement could allow Hyperliquid (HYPE) to provide certain parts of the underlying technology, liquidity, or market design, without actually opening its existing venue to people in the U.S., said Nansen Research Analyst Nicolai Sondergaard.
"It would be a separate U.S. product built around Hyperliquid’s infrastructure, and the final structure has not yet been formally announced," Sondergaard said in an email.
That distinction between Hyperliquid's existing venue and a U.S. centric platform is important, Sondergaard added, because currently people in the U.S. can technically access Hyperliquid through the underlying chain, but Hyperliquid's terms restrict people in the U.S.
"The proposed arrangement would provide a formal route through a regulated intermediary, with KYC [know your customer], sanctions screening, customer-fund protections and a clear legal entity responsible for the product," Sondergaard said. "The trade-off is that U.S. users would probably get fewer markets, lower leverage and more conservative risk controls than users on the permissionless venue."
Still, Sondergaard said he doesn't think that should mean that Hyperliquid should be "fully KYC-gated."
"Blanket KYC would mainly remove privacy and permissionless access for legitimate users while pushing liquidity offshore," Sondergaard said. "A regulated U.S. access layer is more useful because it gives users a compliant option without requiring the entire global market to operate under one model."
CFTC-SEC Both the CFTC and its sister agency, the Securities and Exchange Commission, would likely need to be involved in writing revised interpretive rules involving custody and mechanics around current routing standards, former SEC senior counsel Ashley Ebersole told The Block, ahead of news of Payward's proposal. Ebersole is currently the co-founder and chief legal officer at real-world assets platform tx.
But the partnership between Bitnomial and Hyperliquid gives them a regulatory head start, Ebersole said.
"Partnerships of this type provide the regulatory infrastructure that would have added months or years to Hyperliquid’s US roadmap if pursued on its own," Ebersole said. "The assets to be offered still need to be approved, but Kraken and Bitnomial’s involvement materially accelerates the timeline for launching them here."
Some groups are pushing for both agencies to work together. In a letter last month, the Hyperliquid Policy Center urged the SEC and CFTC to adopt a harmonized framework for perpetual contracts.
The CFTC has already taken steps toward bringing perpetuals into regulated U.S. markets. In May, cleared the way for bitcoin perpetual futures contracts to be listed in the U.S when it greenlit KalshiEX and Coinbase to list the products. On Thursday, Coinbase said it filed a notice registration form with the SEC to get its sign-off to begin listing equity perpetuals.
Changing rules at the SEC and CFTC, however, is notoriously slow. Even if regulators moved quickly, revisions could take up to a year, Ebersole said.
Both the Trump administration and Trump himself have "very bullish views" on ensuring that the U.S. is the leader of the financial world, he said, but the 2028 presidential elections could shift those priorities.
"In a case like that, it really just becomes dependent on what the next administration's appetite is if you can't get it done in the remaining years of the Trump administration," he said.
A new era for markets For decades, U.S. markets have been built to operate largely from 9:30 a.m. to 4 p.m. ET and are closed on holidays and weekends. But that model has increasingly come under pressure as exchanges and other market operators move toward around-the-clock trading. Major venues such as CME already offer liquidity nearly 24 hours a day, five days a week.
If Hyperliquid were to launch an operational U.S. venue, it could add pressure on traditional markets to accelerate that shift.
"If theoretically Hyperliquid came onshore and was up and running in the U.S. and available to U.S. persons, then that would be additional motivation for existing markets to move in the direction of the features being offered on that new competitor," Ebersole said.
The growth of Hyperliquid and perpetuals has also raised concerns.
Mark Hays, associate director for cryptocurrency and financial technology with Americans for Financial Reform and Demand Progress, said the administration's push for platforms like Hyperliquid "has a checkered history" and can lead to financial instability.
"The Trump administration's efforts to pave the way for crypto firms like Kraken and Hyperliquid to get quick easy access to US markets isn't surprising - given the long pattern of collusion between the administration and the crypto industry - but it does suggest regulators are failing to heed the lessons of the past - which could have far-reaching impacts across all US financial markets," Hays said in an email.
CME CEO Terrence Duffy has repeatedly pushed back against crypto perpetuals, reportedly calling them a "disaster waiting to happen," and also sued the CFTC over the agency's approval of perpetual futures.
Legacy players want to defend their turf, said Ebersole, citing a brewing fight in Congress between banks and crypto over stablecoin rewards as lawmakers work to pass broader crypto legislation.
Those legacy stakeholders could do that by demanding that new entrants in perpetuals follow the current rules, he said.
"You can also take the regulatory angle and say those products shouldn't be offered in any case because they don't comply with the existing rulebook, which is why I think we're seeing changes in that rulebook would likely be needed to allow something like this to happen," Ebersole said.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
Strategy Inc. is sitting on roughly $52.5 billion in net Bitcoin reserves after subtracting what it owes to preferred shareholders and convertible debt holders.
The gross number is substantially larger. Strategy holds approximately 845,050 BTC valued at around $74 billion, which represents about 4.02% of Bitcoin’s entire circulating supply. But after accounting for roughly $14.8 to $15.5 billion in preferred stock obligations and $6.7 to $6.8 billion in out-of-the-money convertible debt, the net figure lands at $52.5 billion.
A new way of counting The shift in reporting methodology traces back to July 2026, when Strategy introduced a revised metrics framework that prioritizes net exposure for common shareholders. Previously, the company simply trumpeted its total Bitcoin stack. Now it’s voluntarily showing its work, deducting the claims that sit above common equity in the capital structure.
Executive Chairman Michael Saylor has been the loudest champion of this approach. The framework is designed to give shareholders a clearer picture of what actually belongs to them after everyone else in line gets paid first.
The company has also introduced a market net asset value metric, referred to as mNAV, which has consistently registered above the 1.0x threshold since the revised framework went into effect. Strategy has permanently anchored its equity issuance threshold at that level, meaning it won’t dilute shareholders by selling stock below the net asset value of its Bitcoin holdings.
Cash reserves and strategic positioning Beyond the Bitcoin pile, Strategy’s liquidity position is substantial. The company reports a USD reserve of $5.1 billion alongside an additional cash pool of approximately $1.6 billion. Combined, that’s enough to cover preferred dividends and interest obligations for several years without touching the Bitcoin stash.
During recent weeks, the company has refrained from purchasing or selling any Bitcoin. Instead, it has raised capital through MSTR share sales and conducted limited preferred stock buybacks. The decision to pause Bitcoin acquisitions while repurchasing preferred stock serves a dual purpose: it reduces the senior claims sitting ahead of common shareholders while maintaining the existing Bitcoin position intact.
What the net reserve framework means for markets The distinction between $74 billion gross and $52.5 billion net is roughly $21.5 billion. It represents the total value of claims that would need to be satisfied before common shareholders see a penny in a theoretical liquidation scenario.
For investors evaluating MSTR stock, the mNAV metric hovering above 1.0x suggests the market is assigning at least full value to Strategy’s net Bitcoin position.
The approximately $6.7 billion in convertible debt is described as out-of-the-money, meaning the conversion prices sit above where MSTR shares currently trade. If those converts were to swing into the money, the dilution math would change, potentially shifting the net reserve calculation in ways that affect common shareholder value.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Hargreaves Lansdown začala drobným investorům nabízet nákup Bitcoinu a dalších krypto ETN, přestože loni tvrdila, že Bitcoin není třída aktiv. Firma zároveň varuje, že krypto ETN jsou vysoce rizikové a mohou být volatilní.
British financial services firm Hargreaves Lansdown is letting retail investors buy bitcoin — nearly one year after it said the cryptocurrency was “not an asset class.”
The Bristol, UK-based investment firm’s website said it was offering bitcoin and other crypto exchange-traded notes to investors. ETNs are investment funds which trade on stock exchanges and track the prices of digital assets.
It comes after the firm, which manages nearly £173 billion (over $233 billion) in assets, last year warned customers about buying bitcoin.
“While longer-term returns of Bitcoin have been positive, Bitcoin has experienced several periods of extreme losses and is a highly volatile investment — much riskier than stocks or bonds,” the firm said at the time.
“The HL Investment view is that Bitcoin is not an asset class, and we do not think cryptocurrency has characteristics that mean it should be included in portfolios for growth or income and shouldn’t be relied upon to help clients meet their financial goals.”
Now, a number of ETNs tracking the price of bitcoin and other cryptocurrencies are available. The firm warns users that “crypto ETNs are considered high-risk and may be volatile.”
U.S. regulator the Securities and Exchange Commission in 2024 approved bitcoin exchange-traded funds for investors after a decade of saying no to the products.
The funds had the most successful debut in the history of ETFs as investors previously unable to buy exposure to the asset class rushed in to buy the products.
Run by top asset managers and banks like BlackRock, Fidelity, and Morgan Stanley, the investment vehicles now collectively manage over $100 billion in assets.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
The XRP Ledger's agentic payment layer has crossed a fresh milestone, with @t54ai's x402 hub recording 3,807,228 transactions to date, a 274% increase from earlier counts. Total value settled stands at 5,726 XRP and 3,626 RLUSD, @Ripple's dollar stablecoin.
How x402 Agent Payments Work
The hub acts as the central directory and facilitator for these machine-to-machine payments, currently listing 1,711 live services from 148 registered merchants.
Heurist Leads the Merchant Table @heurist_ai's Heurist Inference Router sits well clear of the rest of the top five merchants on the hub.
Other active merchants in the directory include LucyOS, ClawBank, and AskSurf, which together round out the top five by transaction volume.
The rapid growth in transaction counts signals a maturing agentic economy on the XRP Ledger, even as the broader market watches for signs that volume can translate into meaningful settlement value at scale.
Sources:
XRP Ledger: Agentic Payments with X402
CoinMarketCap: Ripple Launches AI Agent Payments with XRP and RLUSD
Crypto Economy: AI Agents Fuel XRP Transactions, RippleX Maps Path Toward 100M
XRP roste díky silnějším spot nákupům, zatímco open interest zůstává pod úrovní předchozího lokálního maxima. Ripple zároveň oznámil víceleté partnerství s Florida Athletics, které začne od sezóny Florida football 2026.
XRP (CRYPTO: XRP) is showing signs of a healthy price recovery as spot buying increases and leverage remains below its previous local peak.
XRP Makes Higher High on Lower Open InterestCrypto analyst Cryptoinsightuk on Friday highlighted a potentially constructive divergence between XRP price and derivatives positioning.
Open interest has started rising, while positive funding rates suggest positioning remains tilted toward longs.
However, spot trading volume also increased around the recent bottom, indicating the recovery isn’t being driven solely by leveraged traders.
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More importantly, XRP has climbed above its Aug. 30 local price high while open interest, measured in both dollar and XRP terms, remains below the levels recorded at that previous peak.
"In short, XRP is making a higher high in price with lower open interest than at the previous local high," Cryptoinsightuk said.
The setup could suggest XRP’s latest advance is relying less on leverage than the previous rally, potentially leaving the market less vulnerable to a derivatives-driven unwind.
XRP Has Broader VisibilityFlorida Athletics announced a multi-year partnership with Ripple beginning with the 2026 Florida football season.
Under the agreement, the XRP logo will appear prominently on the field at Ben Hill Griffin Stadium, alongside branding across digital properties and event signage.
University of Florida Athletic Director Scott Stricklin said, Friday, the partnership reflects Florida’s history of embracing innovation and technology.
Ripple will also support financial and technology education for Florida student-athletes and the wider campus community, covering traditional finance and digital assets.
Image: Shutterstock
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Fireblocks snížil náklady na ověření postkvantového podpisu ML-DSA-44 na Ethereu na 1,23 milionu gas z 8,09 milionu. Jde o 6,6násobné zlepšení bez změn protokolu Etherea.
Fireblocks published an optimized EVM implementation of an ML-DSA-44 signature verifier, a post-quantum cryptographic scheme compliant with NIST’s FIPS 204 standard. The headline number: verification now costs 1.23 million gas, down from the previous state-of-the-art benchmark of 8.09 million gas set by ZKNox’s ETHDILITHIUM project. That is a 6.6x reduction, achieved without any changes to the Ethereum protocol itself.
What actually changed under the hood ML-DSA-44, formerly known as CRYSTALS-Dilithium, is a lattice-based signature scheme selected by NIST as a post-quantum standard.
Fireblocks targeted the specific bottlenecks. The largest single gain came from optimizing SHAKE-256 hashing, a core component of the ML-DSA scheme, cutting its gas contribution from roughly 3 million down to approximately 400,000. Additional improvements came from more efficient number theoretic transform (NTT) computations and smarter memory expansion techniques within the EVM.
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For comparison, EIP-7885, a pending Ethereum improvement proposal that would add a dedicated NTT precompile to the protocol, was projected to bring ETHDILITHIUM’s cost down to around 5.73 million gas. Fireblocks reached 1.23 million without any precompile support, working entirely within the existing EVM instruction set.
An AI team did most of the heavy lifting Fireblocks used an autonomous AI-driven research team of 144 agents operating over nine days. Total cost: approximately $7,500.
The AI agents conducted formal verification as well as performance tuning, producing over 320 verification tests and 62 machine-checked arithmetic properties validated in Z3, a formal verification tool from Microsoft Research.
Where this fits in Ethereum’s quantum roadmap Ethereum’s longer-term roadmap already anticipates the need to replace its native signature scheme. The plan involves account abstraction, specifically moving toward a model where smart contracts, rather than the protocol itself, handle signature verification. This architecture, sometimes called de-enshrining native signatures, means any NIST-approved post-quantum scheme can be deployed as a contract verifier without requiring a hard fork to change Ethereum’s consensus rules.
Earlier in 2026, other research efforts focused on SPHINCS+-derived schemes, a hash-based post-quantum approach that achieved costs around 127,000 gas. Hash-based schemes come with significant drawbacks including large signature sizes and statefulness requirements that make them awkward for general wallet use. The lattice-based ML-DSA approach Fireblocks optimized is the NIST primary recommendation for general-purpose digital signatures.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Firmy znovu zrychlují nákupy BTC a ETH, zatímco Bitcoin na konci srpna vzrostl zhruba o 23 %. Strive koupila 1 800 BTC a Strategy přidala 4 603 BTC, zatímco Bitmine dál hromadí více než 5,9 milionu ETH.
Late August’s crypto market rebound has driven enterprises to increase their crypto asset allocations. As Bitcoin’s price rose, Bitcoin mining firms that had previously pivoted aggressively to AI businesses have reemerged as high-beta plays in BTC’s market, while corporate balance sheet strategies involving direct Bitcoin holdings have once again drawn market attention. Data shows Bitcoin climbed around 23% in late August, with some mining stocks surging 41% to 67%—outperforming multiple AI infrastructure companies. The market attributes the rally to three key factors: the U.S. Treasury expanding Treasury repurchase operations, the White House issuing positive signals on crypto regulation, and over $1.6 billion in short positions being liquidated. In terms of corporate buying activity, Strive purchased 1,800 BTC in the final week of August for roughly $143 million, lifting its total holdings to 23,156 BTC and making it the fifth-largest public company holder of Bitcoin. Strategy added 4,603 BTC over the same period, bringing its total holdings to more than 845,000 BTC. Separately, 21 major financial institutions including Bank of America, Goldman Sachs, and Citigroup plan to set up a new entity and launch a U.S. dollar stablecoin in the first half of 2027, with plans to expand to other G7 currencies for cross-border payments and digital asset settlements. For Ethereum, Bitmine has been accumulating ETH for 65 consecutive weeks, with its latest position exceeding 5.9 million ETH—accounting for 4.9% of Ethereum’s roughly 120.7 million circulating supply, just short of its 5% holding target. Despite the ongoing accumulation, the company’s current ETH holdings still carry approximately $5.1 billion in unrealized losses.
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APX Lending spustila pětiletou revolvingovou úvěrovou linku krytou Bitcoinem, Ethereem nebo oběma aktivy. Klienti mohou proti zástavě čerpat až 250 milionů USD v krytí kolaterálu, bez poplatků za sjednání, předčasné splacení i likvidaci.
APX Lending, Canada’s first regulated digital-asset-backed lender, launched a five-year revolving line of credit on September 3 that lets clients borrow against Bitcoin, Ethereum, or both, according to the company’s announcement. The facility carries no origination, prepayment, or liquidation fees and includes up to $250 million in collateral insurance coverage.
How the Line of Credit Works Unlike APX’s fixed-term loans, which are collateralized by either BTC or ETH, the new facility can use both assets together to calculate borrowing capacity. A client holding $200,000 of Bitcoin and $100,000 of Ethereum can apply the combined $300,000 toward a single credit line; at 60% loan-to-value, that supports up to $180,000 of borrowing capacity. Annual rates range from 10.49% to 11.99% depending on the outstanding balance, and interest accrues only on the amount drawn, so borrowers pay nothing on unused capacity.
The revolving structure lets clients establish the facility once, then draw, repay, and redraw as their needs change rather than starting a new loan each time. Available credit adjusts dynamically with the market value of the collateral, rising or falling as the pledged Bitcoin and Ethereum appreciate or depreciate.
A Regulated Lending Framework APX was the first digital-asset-backed lender approved by Canadian securities regulators and is registered with both FINTRAC and FinCEN. Founded in 2023 and based in Toronto, the company now spans fixed-term lending, revolving credit, and a Lending-as-a-Service platform that lets banks and fintechs offer APX-powered products to their own clients. “A revolving line of credit is something our clients have asked us for repeatedly,” said founder and chief executive Andrei Poliakov. “You may need money for a purchase today, an investment three months from now and a business expense later in the year. You shouldn’t have to start a new loan every time.”
Crypto-Backed Credit Broadens The launch extends a widening market for crypto-backed borrowing. Ledn recently projected that the Bitcoin-backed loan market could reach $1 trillion over the next decade, while banks have begun accepting digital assets as collateral, with Sberbank planning to lend against Bitcoin, Ethereum and USDT. APX’s move signals that regulated lenders are graduating from single-transaction loans toward products that mirror traditional banking lines of credit, even as borrowing capacity stays tied to the market value of the pledged crypto.
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Cardano Foundation se stala prvním kryptoprojektem, jehož účetní závěrku za rok 2025 ověřil Grant Thornton přímo na blockchainu Cardano. Auditor tak poprvé zapsal formální attestaci na blockchain.
Blockchain organizations have promised transparency for years. The Cardano Foundation just put an auditor’s signature on-chain to prove it.
Grant Thornton Switzerland has attested the Cardano Foundation’s 2025 financial statements directly on the Cardano blockchain, making this the first time an independent auditor has placed a formal attestation on-chain for a major crypto organization. The audit opinion is dated March 25, 2026, and the accompanying Activity and Financial Insights Report was published publicly on April 2, 2026.
What actually happened here The mechanism behind this is a platform called Reeve, a financial data integrity system built to bridge conventional accounting workflows with public blockchain infrastructure. Reeve was first used by the Cardano Foundation for its 2024 report, but that version did not include a third-party auditor’s attestation. The 2025 cycle adds that layer: Grant Thornton’s sign-off now lives on Cardano’s ledger, meaning the connection between the audit opinion and the published financial data is verifiable without trusting any single party’s word for it.
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The Foundation’s CEO, Frederik Gregaard, described the initiative as a demonstration of “the highest standards of transparency,” combining statutory accounting requirements with on-chain verification.
As of December 31, 2025, the Foundation held total assets of CHF 287.5 million, or roughly $361 million. The allocation breaks down as 51.6% in ADA, 25.5% in Bitcoin, and 22.9% in cash equivalents and other financial assets. Total expenditures for the year came to CHF 23.6 million, spread across adoption programs, technology development, and governance work.
Why putting an audit on a blockchain is harder than it sounds Traditional audits produce a PDF and a letter. Those documents can be updated, taken down, or quietly replaced. On-chain attestation turns the audit record into something closer to a permanent entry in a public ledger: the cryptographic fingerprint of the financial data is recorded at a specific point in time, and any change to the underlying numbers would produce a different fingerprint, making tampering immediately detectable.
What this means for the broader landscape The Cardano Foundation is a non-profit steward of the Cardano ecosystem. Non-profit foundations are accountable to their communities rather than shareholders, and community members rarely have the tools to verify whether a foundation is managing resources responsibly. On-chain audit attestation gives them one.
Holding 51.6% of reserves in ADA and 25.5% in Bitcoin means the Foundation’s balance sheet is meaningfully exposed to crypto market volatility. CHF 287.5 million in total assets is a substantial treasury, and the decision to hold the majority in native crypto assets rather than retreating to cash reflects a deliberate strategic posture.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
21členné bankovní konsorcium plánuje spustit dolarový stablecoin v první polovině roku 2027. O jeho úspěchu ale rozhodne hlavně likvidita, interoperabilita a dostupnost, ne samotná bankovní podpora.
A planned dollar stablecoin backed by 21 global financial institutions will begin with regulatory resources, corporate relationships, and international payment connections. Four industry executives told crypto.news, however, that institutional backing will not guarantee adoption unless the token can match the liquidity, accessibility and portability already offered by USDT and USDC.
Summary
The 21-member consortium plans to launch its dollar stablecoin during the first half of 2027. Experts said established banking relationships could help the token gain early institutional distribution. Interoperability, wallet support, and reliable redemption will determine whether it circulates beyond member banks. The consortium must identify who carries legal responsibility for reserves, redemptions, and transaction failures. USDT and USDC could lose market share even as bank-issued tokens expand the overall stablecoin market. The consortium committed to forming a new stablecoin company during the second half of 2026, subject to closing conditions. Its members include Bank of America, Citi, Goldman Sachs, Deutsche Bank, UBS, and other financial institutions across North America, Europe, Asia, Africa, and the Middle East.
The unnamed venture intends to launch a US dollar-denominated stablecoin during the first half of 2027. It may later introduce stablecoins tied to other G7 currencies, with a euro-denominated token listed as its first expansion priority.
The consortium has not disclosed the token’s name, supported blockchains, reserve custodian, governance model, or redemption process. Those details could determine whether the product becomes a widely used payment instrument or remains primarily a settlement token within the institutions’ existing networks.
21-bank stablecoin starts with a distribution advantage Utkarsh Ahuja, founder and managing partner at Moon Pursuit Capital, told crypto.news that the consortium starts with relationships that normally take new financial products years to develop.
The participating institutions already serve corporate treasury departments, process international payments, and operate compliance systems across several jurisdictions. According to Ahuja, those connections could make it easier to introduce the stablecoin into existing corporate workflows, particularly for cross-border settlement.
“The banks start with something that normally takes a financial product years to build: distribution into the companies that actually move very large amounts of money.”
Ahuja cautioned that established relationships do not provide the portability that USDT and USDC have built across exchanges, wallets, blockchains, and market makers. The consortium could bring corporate clients to the token, he said, but convincing those clients to use it outside the participating banks’ network will be more difficult.
Jerald David, CEO of Lynq Network, said the initiative has both offensive and defensive motives. It could open new blockchain payment revenue for the institutions while protecting payment activity and commercial balances from migrating to non-bank stablecoin issuers.
Stablecoin issuers can earn income from the assets held against circulating tokens, including short-term government debt. When deposits move from banks into stablecoins, part of the balance and its associated economics can move with them.
David said a shared token would allow the institutions to enter blockchain payments through a framework over which they retain greater control. However, he warned that scale alone would not make the proposed token more attractive than established alternatives.
USDT and USDC currently benefit from years of integration. A recent crypto.news analysis of stablecoin distribution placed the wider market at approximately $316 billion in mid-2026, with USDT accounting for about $187 billion and USDC representing roughly $75 billion.
Interoperability will decide whether the token circulates David described issuance as the easier part of the project. Businesses will also need reliable ways to move between the consortium’s stablecoin, existing stablecoins, tokenized deposits and conventional bank accounts.
“Interoperability will be more important than issuance,” David said.
“If capital can enter the token easily but cannot move out or across networks just as efficiently, the consortium risks creating another isolated pool of liquidity.”
Such interoperability would require dependable minting and redemption, custody arrangements, market makers, and settlement infrastructure connecting different forms of digital and conventional money. An institution receiving the new token must be able to redeem it for dollars or exchange it without facing long delays, high spreads, or limited trading depth.
Alvin Kan, chief operating officer of Bitget Wallet, told crypto.news that self-custodial wallets would examine the token’s entire user journey before supporting it. Relevant functions include holding, transferring, swapping, and spending the stablecoin.
Wallet providers would need audited smart contracts, transparent issuance and redemption processes, and consistent technical standards across every supported blockchain, according to Kan. They would also need to know whether tokens are issued natively on each network or transferred through bridges.
Kan said native mint-and-burn systems or coordinated cross-chain issuance would generally be preferable to wrapped assets because they could reduce bridge risks and prevent liquidity from being split among several representations of the same stablecoin.
Wallets could use intent-based routing and liquidity aggregation to shield users from some of that complexity. However, Kan said wallets cannot eliminate fragmentation without cooperation from issuers, banks, and liquidity providers.
“Ultimately, interoperability will matter more than how many bank tokens get issued. The winning infrastructure will make multiple tokens feel like one connected financial system.”
Gas abstraction could remove another obstacle. Users may be less willing to adopt a dollar stablecoin if they must first acquire a separate blockchain token to pay network fees whenever they transfer or spend it.
The same problem applies to identity verification. Kan said reusable credentials or privacy-preserving attestations could allow users to demonstrate that they have completed required checks without repeating the full process for every issuer. Different regulatory requirements would still apply across jurisdictions, meaning one universal identity credential is unlikely to resolve every compliance issue.
Bank backing does not guarantee stablecoin adoption Waseem Salim, CEO of Valdora, told crypto.news that an established issuer can provide initial trust, but utility determines whether people continue to hold and use a stablecoin.
Société Générale offers an example of the difference between institutional backing and circulation. Its digital asset subsidiary launched USD CoinVertible on Ethereum and Solana in 2025. Despite its connection to a major global bank, official SG-FORGE data showed approximately $12.55 million of the stablecoin in circulation as of Sept. 4.
“A strong name helps, but people won’t adopt a stablecoin just because there’s a bank behind it,” Salim said. “They need a reason to actually use and hold it.”
According to Salim, users will consider whether the token works with their existing wallets and preferred networks, whether sufficient liquidity is available, and how easily they can redeem it. They will also examine what they can do after acquiring it.
Possible advantages include cheaper cross-border settlement, direct integration with corporate bank accounts, and access to tokenized financial products. Those benefits would need to be substantial enough to compete with USDT and USDC integrations and the familiarity of conventional deposits.
Kan similarly described adoption as utility-driven. Institutional reputation could attract users who value regulated redemption and established banking relationships, but the token would need to work across payments, swaps, merchant transactions and local cash-out services.
The last step could prove decisive. A stablecoin may move between blockchains within seconds, but Kan said much of that advantage disappears if recipients face high costs when converting it into reais, rupees or pesos.
The World Bank’s latest remittance pricing data puts the average cost of sending money internationally at 6.36% of the transferred amount. Bank-backed stablecoins could compete in those corridors if they reduce the complete delivered cost, including foreign-exchange spreads, network fees, redemption charges and local payout expenses.
Domestic conditions will also affect adoption. Kan said stablecoins must offer more than fast local transfers in markets already served by systems such as India’s UPI, Brazil’s Pix and SEPA Instant in Europe. Their stronger use cases in those regions may involve international commerce, multi-currency access and digital-asset settlement.
Reserves, redemption and liability will test trust The consortium’s size creates another question: which entity will ultimately stand behind the token?
David said businesses should not have to determine which of the 21 participating institutions is responsible when a redemption fails. He called for one clearly identified legal issuer, segregated and independently verified reserves, and defined obligations for the issuer, participating institutions, and infrastructure providers.
“Shared distribution is an advantage. Shared liability is not,” David said.
The consortium has said it intends to comply with the US GENIUS Act and the EU’s Markets in Crypto-Assets framework where applicable. The GENIUS Act established requirements covering one-to-one reserves, disclosures, redemption, and permitted issuers, although US regulators were still completing implementation rules during 2026.
Kan said wallets would also require information about freezing powers, transfer restrictions, sanctions enforcement, and how compliance responsibilities are divided among the issuer, wallet, and fiat service providers. Such controls become more complex when tokens circulate across public blockchains and national borders.
Redemption risks could grow if the stablecoin becomes a gateway into tokenized investments. Salim warned that users must understand that yield does not appear merely because an asset is held onchain.
If returns come from business lending, government securities, or market strategies, platforms should identify the underlying source, asset manager, custodian, and counterparties. They should also explain how quickly the assets can be sold and what happens if a borrower defaults.
Salim said those arrangements differ from interest earned on a bank deposit because the legal relationship, custody model, liquidity, and protections may not be the same.
Platforms could also create a mismatch if users expect immediate stablecoin withdrawals while the underlying capital is invested in assets that trade during limited hours or take longer to sell. Salim said providers may need liquid reserves, staggered maturities, redemption windows, or withdrawal queues aligned with the underlying assets.
USDT and USDC may face competition as the market expands Ahuja expects a bank-issued dollar stablecoin to place more immediate pressure on USDC in institutional markets where Circle and major banks could compete for the same corporate balances.
If companies transfer balances into the new stablecoin, the reserves and income generated from those assets would move with them. However, Ahuja said USDT occupies a different position because much of its demand comes from markets where access to US banking services remains limited or inefficient.
The consortium’s Western banking relationships would not automatically replicate Tether’s reach in those regions. USDT is widely used on exchanges and in markets where people seek access to dollars outside conventional banking channels.
Competition may also enlarge the market rather than redistribute a fixed amount of stablecoin activity. Banks could bring corporate transactions onchain that currently do not use USDT, USDC, or any public blockchain.
Ahuja said Tether and Circle could therefore lose percentage share while their circulation and transaction volumes continue growing. He recommended examining the composition of stablecoin activity rather than relying solely on market-share figures.
The effects could extend beyond the issuers. A market containing bank stablecoins, tokenized deposits, USDT, USDC, and tokens tied to other currencies would increase demand for companies connecting those pools.
Ahuja identified liquidity providers, payment infrastructure, custody services, compliance tools, and blockchain networks as potential beneficiaries. Tokenized-asset platforms could also gain if regulated digital cash allows funds and securities to settle on the same infrastructure.
David said the consortium’s traction should ultimately be measured through active business users, recurring settlement, redemption performance during market stress, and acceptance outside the 21 participating institutions. Large transaction volumes alone could reflect a small group of members moving capital among themselves.
The consortium’s banking relationships could put its token in front of corporate users quickly. The four executives nevertheless agreed that liquidity, interoperability and external acceptance, not the number of institutions behind it, will determine whether the stablecoin becomes a genuine rival to USDT and USDC.
Těžaři Zcash ve stále větším počtu opouštějí zcashd a přecházejí na Zallet, který má starý node software nahradit. Migrace podle vývojářů probíhá dobře.
Zcash miners are moving on from zcashd in growing numbers, turning instead to Zallet, the wallet designed to replace the decades-old node software. Developers reported on Thursday's Arborist Call, hosted by @ZcashFoundation, that a number of miners have switched over completely and that the migration is working well.
zcashd Reaches End of Life The shift is not voluntary for much longer. zcashd reached its final End-of-Support halt on July 18, 2026, at block height 3,417,100, and every unmodified zcashd 6.20.0 node shut down automatically at that point. The software does not support the NU6.3 network upgrade that followed shortly after. Users who have not yet moved are now being directed to either Zebra, the Rust-based consensus node developed by @ZcashFoundation, or to Zallet if they rely on the embedded wallet functionality.
Zallet is a full-node Zcash wallet written in Rust, built specifically as a replacement for the zcashd wallet. The software is still in beta, and developers have warned that breaking changes can occur at any time. Users were asked to back up old wallet.dat files before importing them into Zallet.
Beta 3 Fixes and Security Review Progress Beta 3 shipped with fixes for problems miners had reported during earlier testing. The security review by Least Authority, a firm with a long track record of auditing Zcash components, has now reached its second round, where auditors verify that previously identified issues have been properly addressed. Least Authority recently completed a broader AI-assisted security audit across several critical repositories in the Zcash ecosystem, commissioned by Zcash Community Grants, with final reports delivered in May 2026.
The Arborist Call also noted that the migration tooling has matured. The migrate-zcashd-wallet command converts a legacy wallet.dat file into a Zallet wallet.db, and the team has been encouraging community testing on both mainnet and testnet to validate wallet balances and migration flows ahead of broader adoption.
While Zallet remains under active development, the combination of a hard zcashd shutdown deadline, improving tooling, and a security review nearing completion suggests the ecosystem is moving quickly toward a full transition.
Sources:
zcashd End of Life Timeline, The zcashd Book
Zallet GitHub Repository, zcash/zallet
AI-Assisted Security Auditing in the Zcash Ecosystem, Least Authority
DefiLlama a Forgd spustily hodnocení tokenů AAA až CCC pro 128 z 149 tokenů; jedinou AAA má zatím Uniswap. Tvůrci ale upozorňují, že AAA neznamená bezrizikovost ani záruku výnosu.
DefiLlama and Forgd have introduced an AAA-to-CCC rating system covering 128 of 149 listed tokens, with Uniswap currently holding the dashboard’s only AAA grade at a composite score of 60.80.
Summary
Universal Token Rating multiplies disclosure and performance scores instead of averaging them. Projects lose points for missing disclosures, weak liquidity arrangements and insider-friendly tokenomics. Submitted project information is checked against exchange, on-chain, and market-maker data. AAA signals strong current conditions but does not predict returns or eliminate investment risks. DefiLlama’s live Universal Token Rating dashboard places Uniswap first with disclosure and performance scores of 7.87 and 7.72, respectively. Meteora follows with an AA grade and a composite score of 58.48, while Curve DAO ranks third at 53.32.
Developed with token advisory platform Forgd, the system grades assets by combining what a project discloses with what trading data shows. Its disclosure assessment covers areas such as tokenomics, insider wallets and commercial arrangements, while the performance side examines liquidity, spreads, venue coverage and market-maker conduct.
DefiLlama Head of Research Ryan Celaj told crypto.news that both components are required because averaging them could allow strength in one area to conceal serious problems in another.
“We’re multiplying a project’s disclosure and performance scores deliberately, because they are both necessary conditions for credibility. And ‘necessary’ is the key word. It’s not that performance and disclosures both factor in. They’re required.”
Under the formula, a project with a disclosure score of 10 and a performance score of 2 receives a composite score of 20. Celaj said an average would give the same project a much less critical score despite its weak market performance.
DefiLlama token grades require strength on both axes The two scores range from zero to 10 and are multiplied to produce a result out of 100. AAA begins at 60, meaning a token cannot reach the top category if either component falls below six, even with a perfect score on the other axis.
AA starts at 40, with narrower bands separating A, BBB, BB, and B as weaknesses increase. Celaj said the thresholds make the highest grades difficult to obtain while creating distinctions among assets further down the table.
Although the letters resemble grades used in conventional finance, Celaj said they do not estimate default probabilities and should not be treated as equivalents to ratings issued by a traditional credit-rating agency. The format was selected because institutional traders already understand the AAA-to-CCC scale.
The approach also links stated policies to observable results. A project may publish detailed market-making terms or token-distribution plans, but the performance score tests whether liquidity, trading activity and wallet behavior match those claims.
Uniswap founder Hayden Adams drew attention to the results after UNI received the only AAA grade. Referring to the ranking in an Aug. 27 X post, Adams called it “the result of a neutral, unbiased ratings system” and referred to past criticism of Uniswap as “crypto Twitter psyops and fud.”
Market-maker conduct can lower a token’s grade Forgd founder and CEO Shane Molidor said private contracts do not prevent the platform from assessing whether a market-making arrangement has produced durable liquidity.
Forgd monitors more than 500 market-maker engagements through reports and application programming interface data, according to Molidor. Its system measures contributions to volume and depth, uptime, compliance with agreed targets, and each provider’s record across other mandates.
“We do not determine sustainability from the disclosed contract alone,” Molidor said. “Forgd already monitors market-maker performance through its platform, giving us access to market-maker reporting and API data for the over 500 engagements we track.”
According to the executive, Forgd compares first-party information with exchange and on-chain data, including spreads, two-sided depth, venue coverage, and organic trading activity. Analysts also examine how liquidity behaves during volatile periods, token unlocks, and the period after launch incentives end.
Such checks are designed to separate persistent liquidity from volume temporarily supported by token loans, options, or other incentives, Molidor said. A project does not have to publish every commercial term, but it must provide enough verifiable evidence for Forgd to understand the arrangement and the commitments being measured.
Acceptable evidence may include relevant contract provisions, amendments, token-loan terms, options, wallet identifiers, liquidity targets, uptime requirements, incentive structures, market-maker reports and API records. Forgd also offers its market-maker monitoring software free of charge, allowing a poorly rated project to submit more data for review.
Market quality has become an important issue as institutions increase their exposure to tokenized assets. On Aug. 27, Stellar’s RWA value was reported to have increased from about $785 million in January to more than $3 billion in July, yet slightly more than $2 million had entered Blend pools that accept RWAs. The figures showed a large difference between assets issued on-chain and the amount actively used in decentralized lending.
Project claims cannot directly determine the score Claiming a profile gives a token issuer an opportunity to submit evidence, but Molidor and Celaj said the process does not allow the issuer to assign or control its rating.
Missing information counts against the disclosure score. A project that supplies favorable details while withholding weak areas cannot obtain full disclosure credit, according to Molidor.
“The downside is that some ratings will appear artificially low until a project provides the necessary disclosures,” Molidor said. “But the upside is that for projects, there is no downside to being transparent, and no upside to selective disclosure.”
The performance score adds a separate check by using exchange records, on-chain events, and Forgd’s monitoring tools. Its inputs include depth, spreads, volume, exchange coverage, derivatives conditions, tokenomics, and adherence to market-making targets.
Exceptionally strong performance in one category is capped, Celaj said, preventing one metric from cancelling persistent weakness elsewhere. The methodology also excludes venues regarded as unreliable from relevant calculations.
Ratings update continuously rather than relying on a single audit. Material disclosures that remain outdated for more than 60 days receive a penalty, while verifiable events such as token unlocks and exchange listings enter the performance assessment automatically.
Even with those controls, both executives acknowledged limits. Molidor said the system cannot prove that an undisclosed commercial relationship does not exist. It can identify missing information, inconsistent claims, and activity that does not match a project’s account, but its grade cannot guarantee that every relationship has been found.
Celaj similarly said that no grading model can be considered impossible to manipulate. DefiLlama has made its methodology and category-level results available so users can trace grades and challenge disputed information, while the team plans to adjust the system if projects find ways to exploit it.
An AAA token grade does not predict returns Neither DefiLlama nor Forgd has gathered enough long-term evidence to claim that highly rated tokens suffer smaller drawdowns or fewer market failures.
Molidor said a high performance score necessarily corresponds with stronger measured depth, tighter spreads, and more extensive liquidity because the system uses those conditions as inputs. Price declines can still result from security breaches, governance failures, or market conditions that the rating does not assess.
“An AAA grade means that, at this point in time, a token demonstrates a strong combination of disclosure quality and observable market performance under the UTR methodology,” Molidor said.
“It does not mean the token is risk-free, that its price will appreciate, or that an institution can replace its own legal, technical and financial due diligence.”
A CCC grade identifies substantial problems in disclosure, performance, or both, according to Molidor. It does not establish that a project is fraudulent or certain to fail, but it points institutions toward areas requiring additional review.
Celaj described the rating as a screening and monitoring tool rather than an investment recommendation. In his view, the system creates a dataset that researchers can eventually use to test whether combining disclosures with market data produces a better predictive signal than assessing each category separately.
Institutional interest gives that test practical relevance, especially for tokens linked to real-world assets. On July 31, an article on Ondo Finance reported that tokenized securities exceeded $36 billion in 2026, including approximately $12.88 billion in tokenized U.S. Treasuries.
For American institutions, token grades may help organize preliminary market-structure reviews, but regulated tokenized products remain subject to separate custody, eligibility, and securities requirements. On Aug. 3, BlackRock launched two tokenized money-market products backed by cash, short-term U.S. Treasuries and Treasury-backed repurchase agreements, with transfers restricted to approved investors and compliant wallets.
UTR does not assess every risk attached to such assets. Celaj specifically said its methodology does not measure cybersecurity risk, which has caused some of crypto’s largest historical drawdowns.
NEAR umožňuje validátorům ověřovat bloky bez ukládání celého stavu sítě, což výrazně snižuje hardwarové nároky. U top 100 validátorů stačí zhruba 48 GB paměti, ostatním 8 až 16 GB.
On most blockchains, validators carry a heavy load. To check that a block is valid, they must maintain a full, up-to-date copy of the chain's state, meaning every account, balance, and contract stored on the network. As a chain grows, so does that burden, gradually raising the cost of running a node and pushing out smaller participants.
@NEARProtocol takes a different approach. Each block on NEAR carries a state witness: a compact cryptographic proof containing only the data required to validate that specific block. A validator can check work on a shard without ever storing that shard's full state.
How Stateless Validation Works in PracticeThe practical result is a sharp reduction in hardware requirements. NEAR's top 100 validators, which both produce blocks and track a shard, operate on roughly 48GB of memory. Those below that threshold run a lighter checking role on just 8 to 16GB.
Stateless validation arrived with Nightshade 2.0, which went live on NEAR mainnet in August 2024. According to The Defiant, the upgrade was designed to speed up transaction execution by 400% and increase the network's shard capacity.
What Has Changed Since, and What Comes NextThe protocol has not stood still since Nightshade 2.0. The v2.13 upgrade landed on mainnet on July 20, 2026, adding two significant capabilities. First, dynamic resharding: the network can now automatically split shards when they reach a capacity threshold, without requiring a validator vote or a manual protocol upgrade. Second, post-quantum signing: NEAR activated the FIPS-204 standard using the ML-DSA-65 parameter set.
It is important to note that the migration is opt-in. Ed25519 and secp256k1 signing remain in place, and users can rotate their keys to ML-DSA-65 through a single on-chain transaction via the NEAR CLI, with no need to move assets or change account addresses. The reason NEAR kept the switch voluntary is a practical one: ML-DSA keys and signatures are substantially larger than elliptic-curve equivalents, which raises storage and processing demands. NEAR's official press release described the deployment as placing it among the first major Layer-1 blockchains to ship a NIST-approved quantum-resistant signature scheme in a live production environment.
Looking further ahead, SPICE (Separation of Consensus and Execution) is the next major upgrade on the roadmap toward Nightshade 3.0, which is already in progress. SPICE decouples the process of validators agreeing on block order from the execution of transactions inside those blocks, targeting block times of 200ms and sub-half-second finality.
Together, these upgrades form a coherent technical arc: reduce validator storage requirements, automate capacity scaling, harden cryptographic security, and compress latency, each layer building on the last.
Sources:
NEAR Protocol: Nightshade 2.0 Launches on NEAR Mainnet
PR Newswire: NEAR Protocol Brings Quantum-Safe Signing to Mainnet
eGamers: NEAR Goes Live With Post-Quantum Signatures On Mainnet Via 2.13 Release
Solana Foundation spustila Payment Channels s benchmarkem 1 milion plateb za sekundu, ale jde o kontrolovaný test, ne o výkon mainnetu. Skutečný objem zatím podle článku zůstává nízký a částečně umělý.
Solana's new Payment Channels benchmark crushes traditional payment rail throughput, yet the gap between protocol signaling and real commerce tells a different story.
The Million-Payment Benchmark On September 3, 2026, the Solana Foundation announced the launch of Payment Channels, accompanied by a headline-grabbing figure: 1 million payments per second. This benchmark, derived from a controlled test involving 100,000 unique wallets through a proxy, does not represent current mainnet throughput. While the capacity to handle 80 billion payments in 24 hours is technically impressive, the gap between a lab-controlled stress test and the messy reality of global commerce remains wide.
The Bar Tab Model The architecture functions like a digital bar tab. Instead of requiring an on-chain transaction for every individual interaction—which would be prohibitively expensive and slow—a user authorizes a spending limit once. The agent then spends against that limit off-chain via signed messages. The final net amount is settled in a single on-chain transaction. This non-custodial escrow model is a departure from custodial prepaid credits, where balances are tracked in a third-party database. By keeping funds in an on-chain program rather than with an operator, the system attempts to solve the friction of agent autonomy, where human intervention was previously required to approve payments one at a time.
Throughput in Context Visa reported a peak capacity of approximately 65,000 transactions per second (TPS) in Q2 2026, with an average of 8,400 TPS. Mastercard, during Q1 2026, operated at an average of 5,600 TPS with a peak capacity of 5,000 TPS. Solana’s benchmark suggests a theoretical ceiling far beyond these legacy systems, yet the utility of such throughput depends entirely on the nature of the transactions being processed. Moving billions of micro-payments is a different engineering challenge than settling high-value retail transactions.
Protocol Neutrality Solana is positioning itself as a neutral settlement layer by supporting both the x402 (pay-per-call) and MPP (session-based) protocols. The x402 protocol offers modes ranging from single metered calls with a ceiling to batch-settlement, while MPP sessions allow for streaming many metered deliveries that settle when the session idle-closes. With Alibaba Cloud serving as the first live partner with API endpoints available at launch, the infrastructure targets enterprise-scale agentic commerce. Whether this neutrality holds under real-world load or simply creates a fragmented landscape for developers remains an open question.
The Economic Reality The cost efficiency is notable, with a per-payment cost of $0.000000000776. However, the actual economic activity on these protocols requires scrutiny. While Solana has seen over 35 million cumulative x402 transactions and $10 million in volume, Artemis Analytics found that approximately half of these transactions are artificial, stemming from self-dealing and wash trading. Furthermore, CoinDesk reported that real daily x402 volume was near $28,000 as of March 2026. The Major Matters x402 tracker indicates that the average x402 transaction value sits in the sub-cent-to-dime range, typically under $0.50. This discrepancy between protocol signaling and actual commercial volume suggests that the ecosystem is still in a phase of infrastructure testing rather than widespread adoption.
The Settlement Race The race to capture agentic commerce settlement is heating up, but the absence of significant “Category 3” commerce—real-world, non-speculative agent-to-agent transactions—remains the primary hurdle. Payment channels remove three specific friction points: the need for constant authorization, the reliance on custodial databases, and the inefficiency of individual settlement. Yet, until the volume shifts from artificial testing to genuine commercial activity, the 1 million payments per second figure remains a proof of concept rather than a market reality. For builders and investors, the focus should remain on whether these channels can sustain real-world utility once the novelty of the benchmark fades.
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AppFolio uzavřela poslední seanci na 214,28 USD, což znamenalo denní pokles o 4,16 % a horší výkon než širší trh. Před zveřejněním výsledků analytici očekávají EPS 1,78 USD a tržby 294,05 milionu USD.
AppFolio (APPF - Free Report) closed at $214.28 in the latest trading session, marking a -4.16% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.29%.
Heading into today, shares of the property management software maker had gained 15.18% over the past month, outpacing the Computer and Technology sector's gain of 2.81% and the S&P 500's gain of 2.08%.
The upcoming earnings release of AppFolio will be of great interest to investors. The company is predicted to post an EPS of $1.78, indicating a 35.88% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $294.05 million, up 17.92% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.91 per share and revenue of $1.12 billion. These totals would mark changes of +30.62% and +18.32%, respectively, from last year.
Any recent changes to analyst estimates for AppFolio should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.21% rise in the Zacks Consensus EPS estimate. AppFolio is currently sporting a Zacks Rank of #2 (Buy).
In the context of valuation, AppFolio is at present trading with a Forward P/E ratio of 32.35. This expresses a premium compared to the average Forward P/E of 21 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 74, this industry ranks in the top 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Render Network účtuje GPU výpočetní výkon v dolarech a platba se vypořádává pálením RENDER. Díky tomu je cena pro uživatele fixní, zatímco počet spálených tokenů se mění podle trhu.
Dollar pricing, token burningRender Network (@rendernetwork) connects artists and AI developers with idle GPU capacity, but it prices that capacity in dollars rather than in its native token. When a creator submits a job, they convert cash into RENDER, the network's Solana-based token (solana:rndrizKT3MK1iimdxRdWabcF7Zg7AR5T4nud4EkHBof). In return, the creator receives Render Credits worth the same dollar amount, keeping the cost to the buyer predictable regardless of where the token price moves on any given day.
Because the burn is calculated in dollar terms, When the token price rises, fewer tokens are needed to cover the same bill. When it falls, more are burned. The quantity of tokens destroyed therefore floats with the market, but the dollar cost to the buyer stays fixed.
How operators get paid and what governs new supplyEvery burn is recorded on-chain, and that record determines how the newly minted reward pool is divided. An operator responsible for 2% of the burns logged within an epoch collects 2% of the tokens minted for completed work that period, plus a share tied to passing uptime checks.
Even in a quiet week with little job activity, the scheduled mint still runs. The schedule itself is set by governance through the Render Network Proposal (RNP) system.
The combined effect is what the project calls Burn-Mint Equilibrium (BME). Burn activity has been accelerating:
Sources:
Messari: Understanding the Render Network
Render Network Knowledge Base: Burn Mint Equilibrium
Render Network: BME Emissions Are Live
Grupo Aeroportuario del Pacífico v srpnu zvýšil celkový počet cestujících o 0,5 % na 5,449 milionu. Mexická letiště v síti GAP přidala 2,6 %, ale Jamajka klesla.
GUADALAJARA, Mexico, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces preliminary terminal passenger traffic figures for August 2026, compared with August 2025.
During August 2026, the 12 Mexican airports operated by GAP recorded a 2.6% increase in total passenger traffic compared to August 2025. Guadalajara and Tijuana airports reported an increase of 10.5% and 1.2%, respectively, while Puerto Vallarta and Los Cabos airports reported a decrease of 10.3% and 6.2%, respectively, compared to August 2025. With respect to GAP’s airports in Jamaica, Kingston airport recorded an increase of 2.8%, while Montego Bay airport recorded a decrease of 23.0%.
Domestic Terminal Passengers (in thousands):
AirportAug-25Aug-26% ChangeJan - Aug 25Jan - Aug 26% Change Guadalajara1,100.31,200.49.1%8,304.88,647.74.1% Tijuana*785.6774.7(1.4%)5,758.65,528.4(4.0%) Los Cabos270.7284.45.1%1,962.21,938.6(1.2%) Puerto Vallarta314.0307.7(2.0%)2,119.42,054.9(3.0%) Montego Bay0.00.0(100.0%)0.00.0(100.0%) Guanajuato191.3202.15.6%1,487.71,459.5(1.9%) Hermosillo177.2181.02.1%1,427.01,340.8(6.0%) Kingston0.40.0(92.6%)0.70.940.8% Morelia71.270.3(1.2%)506.6509.30.5% La Paz121.7137.713.2%856.8950.611.0% Mexicali114.4101.2(11.5%)834.6736.6(11.7%) Aguascalientes55.265.218.3%433.8433.80.0% Los Mochis63.163.30.3%469.2468.1(0.2%) Manzanillo11.313.519.5%89.088.1(1.0%) Total3,276.23,401.53.8%24,250.524,157.4(0.4%) International Terminal Passengers (in thousands):
AirportAug-25Aug-26% ChangeJan - Aug 25Jan - Aug 26% Change Guadalajara516.2585.113.3%3,974.44,225.96.3% Tijuana*326.8351.27.5%2,772.52,626.1(5.3%) Los Cabos292.3243.9(16.6%)3,303.43,037.7(8.0%) Puerto Vallarta161.8119.2(26.3%)2,712.52,178.1(19.7%) Montego Bay447.4344.6(23.0%)3,561.62,628.8(26.2%) Guanajuato88.887.4(1.5%)713.3669.5(6.1%) Hermosillo6.36.98.8%53.357.88.5% Kingston199.2205.13.0%1,272.51,252.7(1.6%) Morelia68.068.00.1%469.9551.917.4% La Paz3.03.0(2.3%)23.131.435.9% Mexicali0.60.713.4%5.05.24.2% Aguascalientes30.728.9(5.8%)219.2222.31.4% Los Mochis0.70.927.6%5.56.010.6% Manzanillo3.73.4(8.6%)69.959.9(14.2%) Total2,145.52,048.4(4.5%)19,156.017,553.4(8.4%) Total Terminal Passengers (in thousands):
AirportAug-25Aug-26% ChangeJan - Aug 25Jan - Aug 26% Change Guadalajara1,616.51,785.510.5%12,279.212,873.64.8% Tijuana*1,112.41,125.91.2%8,531.18,154.5(4.4%) Los Cabos563.0528.3(6.2%)5,265.74,976.4(5.5%) Puerto Vallarta475.8426.9(10.3%)4,831.94,233.0(12.4%) Montego Bay447.4344.6(23.0%)3,561.62,628.8(26.2%) Guanajuato280.1289.53.4%2,200.92,129.0(3.3%) Hermosillo183.5187.92.4%1,480.31,398.6(5.5%) Kingston199.6205.12.8%1,273.11,253.6(1.5%) Morelia139.1138.3(0.6%)976.51,061.28.7% La Paz124.7140.712.9%879.9982.111.6% Mexicali115.0101.8(11.4%)839.6741.7(11.7%) Aguascalientes85.994.29.7%653.1656.20.5% Los Mochis63.864.20.6%474.7474.1(0.1%) Manzanillo15.016.912.5%158.9148.1(6.8%) Total5,421.85,449.90.5%43,406.541,710.8(3.9%) *Passengers in Tijuana who use CBX in both directions are classified as international.
CBX users (in thousands):
AirportAug-25Aug-26% ChangeJan - Aug 25Jan - Aug 26% Change Tijuana320.1346.58.2%2,721.32,590.2(4.8%) Highlights for the month:
Seats and load factors
The seats available during August 2026 increased by 1.5%, compared to August 2025. The load factors for the month went from 84.0% in August 2025 to 83.2% in August 2026. Company Description
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.
This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at [email protected]. GAP’s Audit Committee will be notified of all complaints for immediate investigation.
BMO Financial Group dokončila prodej 138 poboček bance First Citizens Bank. Transakce má podpořit optimalizaci sítě v USA a přesun kapitálu do růstových trhů.
, /CNW/ -- BMO Financial Group (TSX: BMO) (NYSE: BMO) today announced the completion of the sale of 138 branches to First-Citizens Bank & Trust Company ("First Citizens Bank").
As previously announced, the branches are in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, as well as select branches in Minnesota, Oregon, and Illinois.
The transaction supports BMO's strategy to optimize its U.S. financial center network and redeploy capital and resources to markets with strong client engagement and long-term growth potential.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of July 31, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets, and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
Wyoming Stable Token Commission zavádí Chainlink Proof of Reserve pro Frontier Token (FRNT), aby on-chain ověřovala jeho krytí. Jde o jeden z prvních státem vydaných stablecoinů s veřejným důkazem rezerv.
The Wyoming Stable Token Commission said on September 2 that it is adopting Chainlink Proof of Reserve to verify the reserves backing Frontier Token (FRNT), the state’s stable token, directly on-chain. In its announcement, the Commission framed the integration as a step toward a new U.S. standard for digital-asset transparency, making the state’s token one of the first government-issued stablecoins to publish on-chain proof of its own backing.
What Proof of Reserve Adds to FRNT Chainlink Proof of Reserve uses independent data feeds to check that a token’s off-chain assets match its on-chain supply, alerting holders when the collateral behind a coin falls short. For FRNT, that means the Commission can surface live evidence that the cash and U.S. Treasury assets intended to back the token are actually in place, rather than asking holders to rely on periodic attestations.
The Commission described the adoption as a transparency upgrade rather than a change to FRNT’s underlying design. The token is already integrated with Chainlink’s CCIP interoperability protocol for cross-chain movement, a step Wyoming announced in August.
Why a State-Backed Token Is Being Watched Closely Wyoming issued FRNT as the first state-authorized stable token in the United States, positioning it as a test case for how a government can issue money on a blockchain. Extending on-chain verification to its reserves is meant to give that pilot a stronger credibility argument as federal stablecoin legislation pushes issuers toward tighter reserve disclosure.
The Commission’s announcement frames the integration as a benchmark other issuers and states can follow, though it did not specify when the verification feed would go live or how often reserve data would be refreshed.
An Early Pilot With Broader Ambitions FRNT remains a small-scale pilot rather than a widely circulating currency, and its outstanding supply is still measured in a narrow range. That scale means the Proof of Reserve integration is more a signal of regulatory direction than a live test of market-scale reserve risk today.
Still, the pairing of a state regulator with a major oracle network shows how government-issued stablecoins might report their backing in the future. The open question is whether the on-chain verification Wyoming has adopted will satisfy federal regulators once broader stablecoin rules take effect.
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With over five years of experience in crypto, blockchain, and tech content, Ishtiyaq makes complex topics easy to understand. He simplifies blockchain and digital currency concepts for a wide audience, ensuring that beginners and experts alike can grasp key ideas. His clear and engaging writing helps readers stay informed about the latest trends, developments, and innovations in the crypto space. Whether explaining blockchain technology, digital assets, or DeFi, Ishtiyaq breaks down complicated ideas into simple, digestible content. His goal is to help people navigate the fast-changing world of cryptocurrency with confidence, clarity, and a deeper understanding.
Tesla (TSLA -5.92%), a global electric vehicle maker with energy storage and solar solutions, closed at $354.08, down 5.92%. Shares fell after the Cybercab launch underwhelmed investors, and investors are now watching the rollout and safety approvals.
Trading volume reached 64.4 million shares, coming in about 53% above its three-month average of 42.1 million shares. Tesla IPO'd in 2010 and has grown 22,169% since going public.
How the markets moved todayThe S&P 500 (^GSPC -0.38%) closed at 7,718, down 0.38%, while the Nasdaq Composite (^IXIC -0.29%) closed at 26,507, down 0.29%. Among automotive manufacturing peers, Rivian Automotive (RIVN -1.07%) closed at $15.74, down 1.07%, while General Motors (GM +0.83%) closed at $87.76, up 0.83%, highlighting mixed trading across electric-vehicle rivals.
What this means for investorsToday's trading made it clear that investors and analysts expected more from Tesla's Cybercab launch event in Austin last night. The invite-only event to showcase the purpose-built Cybercab robotaxi wasn't livestreamed, and CEO Elon Musk didn't make an appearance.
Details on the number of Cybercabs to be deployed and their locations were not provided, leading analysts to feel that the highly anticipated event offered little incremental information.
Tesla stock also pressured after the National Highway Traffic Safety Administration launched an "audit query" to assess whether Tesla had correctly self-certified that the Cybercab is safe for public road use and meets the necessary federal safety standards.
The combined effect was that investors saw most of this week's gain in Tesla shares given back.
Howard Smith has positions in Rivian Automotive and Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.
Anthropic zlevňuje běžné tokenové úlohy o 25 % a u vysoce agentních úloh až o 45 % po nasazení Claude Fable 5.1 v Amazon Bedrock a AWS. Anthropic se zavázal utratit více než 100 miliard USD za technologie AWS během deseti let.
Amazon.com AMZN , the cloud and e-commerce heavyweight, rolled Anthropic's Claude Fable 5.1 into Amazon Bedrock and Claude Platform on AWS as its shares traded at $256.67. That price sits 3.84% above the stock's $247.18 GF Value™ estimate—a modest premium, but one that leaves little room for Amazon's AI strategy to stumble.
The real hook is cost. Anthropic expects its new cache pricing to make typical token-based workloads 25% cheaper than Fable 5. Savings could reach roughly 45% for highly agentic work. That price cut lands inside a monster partnership: Anthropic has committed more than $100 billion to AWS technology over ten years, reserved up to five gigawatts of capacity and spread its workloads across more than one million Trainium2 chips. More than 100,000 customers already access Claude through Bedrock.
Now comes the $100 billion question: will cheaper AI unleash enough demand to lift AWS faster? Amazon's latest quarterly results showed $42.2 billion in AWS revenue, equal to a $168.8 billion annualized pace. Anthropic's average $10 billion yearly commitment represents about 5.9% of that run rate. Lower prices can pull more customers and agents onto AWS, but they also shrink the computing needed for each task. Amazon wins if the workload boom overwhelms the efficiency gains.
Stifel zvýšil cílovou cenu Microsoftu na 530 USD z 450 USD, ale ponechal doporučení Neutral. Analytik vidí zlepšení u Copilotu a Azure, avšak stále ne dostatečný poměr rizika a zisku pro Buy.
Microsoft MSFT has won a price-target increase from Stifel, but the analyst behind it is not ready to recommend buying the stock.
Stifel analyst Brad Reback raised his Microsoft MSFT target to $530 from $450 following meetings with executives, an increase of nearly 18%. He kept a Neutral rating, creating a split: the operating outlook is improving, but the risk-reward case remains insufficient for a Buy.
Reback’s optimism centers on Copilot. Management described the second half of 2026 as a “step change” in deployment. Weekly active engagement is now “on par with Outlook and Teams,” suggesting Copilot is moving from an add-on toward habitual workplace use.
Quality matters as much as adoption. Customer complaints that dominated conversations a year ago have largely eased following frequent product improvements, according to Reback. That removes a barrier to paid conversions across Microsoft’s enterprise base.
Monetization is following. Microsoft is seeing “moderate acceleration” in premium upgrades to E5, Microsoft 365 Copilot and E7. Because much of the new seat growth comes from lower-priced segments, average revenue per user, rather than volume, is becoming the main growth lever.
Azure provides a second pillar. Reback expects efficiency gains to unlock capacity, sustain business upside and reduce margin drag compared with earlier expectations. That matters because cloud AI growth is constrained not only by customer demand but also by infrastructure and servicing costs.
Microsoft is remaining model-agnostic, combining proprietary and open large language models across Azure, GitHub and Copilot. That approach reduces dependence on one provider while giving customers broader choice.
For investors, the $530 target validates Microsoft’s AI momentum, but the Neutral rating remains a caution signal. Microsoft must now prove that higher Copilot engagement produces durable revenue while Azure efficiencies protect margins. The product direction looks stronger; the question is whether the valuation already reflects it.
Boeing zaplatil dříve nezveřejněnou pokutu FAA ve výši 3,1 milionu USD za porušení bezpečnostních a výrobních předpisů. Částka je ale jen asi 0,5 % jeho volného cash flow za 2. čtvrtletí.
The payment equals only half a percent of quarterly free cash flow, leaving cultural accountability as the real issue. Summary
The fine is financially irrelevant; the underlying production failures are not.
Boeing BA, the aircraft manufacturing giant, climbed approximately 0.4% to $211.40 Friday even after investors learned it paid a previously undisclosed $3.1 million Federal Aviation Administration penalty. The payment settled alleged safety and production violations uncovered between September 2023 and February 2024.
The findings were ugly. Regulators identified hundreds of quality-system failures, two unairworthy aircraft submitted for approval and interference with employees carrying out regulatory duties. Some violations emerged after the January 2024 Alaska Airlines 737 MAX 9 door-plug blowout. Boeing paid the full proposed penalty in January 2026.
But $3.1 million barely dents Boeing's wallet. It represents roughly 0.5% of the company's $631 million in second-quarter free cash flow and only 0.013% of quarterly revenue. The real risk is not the fine—it is whether Boeing can prevent production pressure from steamrolling quality control again. At $211.40, the stock sits just 0.19% above its $210.99 GF Value, leaving investors with almost no valuation cushion if execution cracks return.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
SpaceX se zavázala, že veškerou budoucí AI výpočetní kapacitu bude stavět výhradně na hardware od Nvidie. To zvyšuje její rostoucí účet za výpočetní techniku i závislost na jediném dodavateli.
SpaceX (SPCX -1.20%) held its first earnings call as a publicly traded company on Aug. 4, and CEO Elon Musk used it to place the company's largest capital outlay, artificial intelligence (AI) computing, in the hands of a single supplier.
Musk said, "going forward, we've decided to build exclusively on Nvidia because we think the Vera Rubin architecture is the best architecture. We think it's the best AI computer, and we greatly value our close cooperation and partnership on many levels with Nvidia. So, we're exclusive to Nvidia."
Nvidia (NVDA +0.84%) shares closed up 3.4% the next day. Advanced Micro Devices, the closest alternative supplier of graphics processing units (GPUs) for AI, closed down 7% after reporting its own quarterly results that same afternoon.
Nvidia is also a shareholder, with about $21 billion in SpaceX shares at the end of June.
For SpaceX shareholders, the most interesting figure is the bill. What gets locked in by building it with a single supplier?
Image source: The White House.
How much computing capacity does Musk promise?SpaceX's capital expenditures were $18.4 billion in the second quarter, and $15.8 billion of that was allocated to AI computing infrastructure. The AI figure was $7.7 billion in the first quarter and $749 million a year earlier. In other words, the computing line item grew more than 20 times year over year and now absorbs 86 cents of every capital dollar.
CFO Bret Johnsen told analysts to expect the next two quarters to be "very similar to the current quarter" in terms of capital expenditures, probably about $37 billion more this year.
SpaceX ended June with 1.4 gigawatts of installed computing capacity, compared to 1 gigawatt in March and 0.4 gigawatts a year earlier. Musk expects the company to end 2026 with more than 2 gigawatts. And by the end of 2027, he said, the total "may, let's say, be closer to 10 gigawatts of compute than 5 gigawatts of compute."
Under its commitment, every gigawatt built from now on will use Nvidia hardware.
SpaceX has not filed any contractThe 10-Q SpaceX filed on the day of the conference does not mention Nvidia, nor has any subsequent filing.
What it does show is $28 billion in noncancelable purchase commitments at the end of June, of which $22.2 billion mature in 2027, described mostly as AI infrastructure, cloud capacity, and its spectrum purchase.
During the conference, when asked how much confidence he had regarding the chips, Musk said, "our understanding with NVIDIA is that we will receive a very significant percent of their GPUs next year."
Customer contracts, on the other hand, specify Nvidia chips, and I would argue they say more about SpaceX's tie to Nvidia than the commitment does. SpaceX's cloud service agreements with Anthropic cover about 325,000 Nvidia GPUs at $1.25 billion monthly through May 2029. Its agreement with Google, of Alphabet, covers about 110,000 Nvidia GPUs at $920 million monthly from October 2026 through June 2029. Each can be terminated with 90 days' notice after an initial period. And if SpaceX does not deliver the committed GPUs by Sept. 30, Google could walk away after a one-month grace period or pay only for the GPUs delivered.
So SpaceX has sold Nvidia capacity it has not yet finished buying, with delivery dates.
What SpaceX gives up without a second bidA buyer of this size gives up two things.
The first is price. Nvidia's gross margin was 75% in its quarter ended July 26: on average, three-quarters of what customers pay Nvidia is gross profit.
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The second is the timeline. Nvidia said in its quarterly report that it is "currently experiencing certain supply constraints," and Vera Rubin did not begin production shipments until the quarter that started on July 27. SpaceX's 2-gigawatt and 10-gigawatt targets depend on how much a single supplier ships of a product with limited supply.
Terafab, the chip plant that SpaceX is planning with partners, is its hedge against shortages, but the prospectus says there are still no definitive agreements.
Of course, management's answer is that profitability arrives quickly. Johnsen said current cloud economics provide SpaceX with "less than a one-year payback" on new capital allocated to computing, and the company signed contracts for another $6.7 billion in cloud service revenue during the first weeks of the third quarter. If that holds, paying more for the best computer could be the right decision.
But the stock arguably already assumes it will hold. SpaceX's market value sits near $1.9 trillion, with shares around $142 at the time of writing, more than 60 times the revenue a full year would produce at the second-quarter run rate. That price leaves no room for the bill to be larger or arrive later than planned, and SpaceX has committed to building it all on a single supplier's hardware.
In the latest close session, AT&T (T - Free Report) was down 1.81% at $25.72. This change lagged the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.29%.
Shares of the telecommunications company have appreciated by 10.46% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.81%, and the S&P 500's gain of 2.08%.
Analysts and investors alike will be keeping a close eye on the performance of AT&T in its upcoming earnings disclosure. The company's earnings report is set to go public on October 21, 2026. The company is forecasted to report an EPS of $0.62, showcasing a 14.81% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $31.74 billion, up 3.34% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.35 per share and a revenue of $129.27 billion, representing changes of +10.85% and +2.88%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AT&T. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. AT&T is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, AT&T is presently trading at a Forward P/E ratio of 11.17. For comparison, its industry has an average Forward P/E of 11.61, which means AT&T is trading at a discount to the group.
Investors should also note that T has a PEG ratio of 1.3 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Wireless National was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
MasterCard v posledním obchodním dni klesl o 1,11 % na 579,21 USD, tedy více než S&P 500, který ztratil 0,38 %. Investoři sledují výsledky, kde se očekává EPS 5,12 USD a tržby 9,62 miliardy USD.
In the latest close session, MasterCard (MA - Free Report) was down 1.11% at $579.21. This change lagged the S&P 500's daily loss of 0.38%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq decreased by 0.29%.
Coming into today, shares of the processor of debit and credit card payments had gained 1.69% in the past month. In that same time, the Business Services sector gained 1.03%, while the S&P 500 gained 2.08%.
The upcoming earnings release of MasterCard will be of great interest to investors. On that day, MasterCard is projected to report earnings of $5.12 per share, which would represent year-over-year growth of 16.89%. Meanwhile, our latest consensus estimate is calling for revenue of $9.62 billion, up 11.86% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.86 per share and revenue of $37.24 billion. These totals would mark changes of +16.75% and +13.57%, respectively, from last year.
Any recent changes to analyst estimates for MasterCard should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.38% higher. MasterCard is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, MasterCard is currently exchanging hands at a Forward P/E ratio of 29.5. This denotes a premium relative to the industry average Forward P/E of 13.49.
We can additionally observe that MA currently boasts a PEG ratio of 1.68. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Financial Transaction Services industry had an average PEG ratio of 0.88 as trading concluded yesterday.
The Financial Transaction Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Campbell’s propustila 13 % placených zaměstnanců a zavřela dvě snackové továrny v rámci obratu směrem k návratu k ziskovosti. Firma čeká úspory asi 500 milionů USD do fiskálního roku 2030.
Campbell's said it has cut 13% of its salaried workforce and closed two snack plants in an effort to improve its operations and return to profitability.
"Make no mistake, our results remain unacceptable," CEO Mick Beekhuizen said. "But instead of waiting for the environment to improve around us, we are addressing reality head-on."
The company has 4,300 salaried workers, according to The Wall Street Journal. It had approximately 13,700 full-time and part-time employees as of August 2025, according to a filing with the Securities and Exchange Commission.
UBER TO CUT THOUSANDS OF JOBS IN SWEEPING RESTRUCTURING EFFORT
Cans of Campbell's chicken noodle soup for sale are displayed at a store on July 22, 2026, in Washington, D.C. (Kevin Carter/Getty Images)
Consumer goods companies have increasingly faced resistance from budget-conscious shoppers, particularly lower-income households that have gravitated toward cheaper, private-label and value brands.
Despite this, Campbell's has raised prices in recent years to protect its margins against rising costs of raw materials, logistics and investments behind soup and sauce launches and holiday merchandising programs.
MICROSOFT CUTS 4,800 POSITIONS, INSISTS JOBS 'NOT BEING REPLACED BY AI'
The company has implemented average price increases of 4% to 5% across roughly 60% of its portfolio, with benefits expected to begin flowing through in the second quarter, even as sales take a hit, CFO Todd Cunfer said on a call with analysts.
The company said it plans to generate about $500 million in cost savings by fiscal 2030.
Campbell's soup at a supermarket in Hercules, Calif., Dec. 8, 2025 (David Paul Morris/Bloomberg via Getty Images / Getty Images)
"With this program, we are focused on increasing speed and accountability and improving our margins and cash flow," Beekhuizen said.
Campbell's expects fiscal 2027 net sales to decline 2% to 4%, compared with analysts' expectations for a 0.8% drop, according to data compiled by LSEG. It forecast adjusted earnings per share of $1.65 to $1.80, below estimates of $1.86.
TOP TOBACCO COMPANY TO CUT THOUSANDS OF JOBS
Net sales fell 8% to $2.14 billion in the fourth quarter, slightly missing estimates of $2.15 billion, while adjusted earnings per share of 39 cents were in line with expectations.
Ticker Security Last Change Change % CPB THE CAMPBELL'S CO. 21.38 -0.74 -3.37% Volumes in the company's snacks segment fell 6%, while prices rose 1%. For its meals and beverages segment, where prices remained the same, volumes rose 3%.
"Our priorities are clear: return Campbell’s to a sustainable, long-term value creation model, reduce financial risk and maintain our investment-grade credit rating," Beekhuizen added.
Appaloosa Davida Teppera ve 2. čtvrtletí prodala 41 % podílu v Micronu, ale akcie z něj dál dělají druhou největší pozici fondu. Hodnota zbylého podílu byla na konci června asi 1,13 miliardy USD.
David Tepper's hedge fund, Appaloosa Management, sold 690,000 shares of Micron Technology (MU +6.10%) during the second quarter, cutting its stake in the memory specialist by 41%, according to the fund's latest 13F filing. On its own, that looks like a manager heading for the exit.
But the same filing shows the opposite. The stake Appaloosa kept was worth about $1.13 billion at the end of June -- about 15% of the fund's equity portfolio, and its second-biggest position, behind only a $1.19 billion Amazon stake.
Micron stock gained about 242% during the quarter, which is how both things can be true at once.
What is a manager doing, then, when he sells that much of a stock and ends up more concentrated in it? I'd argue the size of what he kept is the more telling number. And what it reflects is Micron -- the cycle, and the earnings underneath it.
Image source: Getty Images.
Selling didn't shrink the betAt the end of March, Appaloosa held 1.665 million Micron shares worth about $563 million. By the end of June, the 975,000 remaining shares were worth about $1.13 billion, in a portfolio totaling about $7.7 billion. Not only was the trimmed position worth twice what the bigger one had been in March, but it also took up more of the fund (nearly 15% of the portfolio, up from about 9.5%).
The stock did that work. After all, Micron climbed from about $338 at the end of March to about $1,154 at the end of June. Had Appaloosa sold nothing, Micron would have grown to more than a fifth of the fund.
In other words, the sale didn't so much shrink the bet as keep it from getting even bigger.
Is Tepper getting out of memory?A 13F deserves one caveat, though. It is a snapshot of a single day (June 30, in this case), filed 45 days after the fact, and it says nothing about what a fund has done since.
Since then, Micron stock has pulled back to around $1,000 as of this writing, about 14% below where it ended the quarter.
And Appaloosa reportedly kept moving. In August, CNBC reported, citing a person familiar with the matter, that the fund had bought a bigger position in memory stocks since the quarter ended than it sold during it. The buying came as the group slumped.
The same filing also showed Appaloosa selling out of Sandisk (SNDK +11.90%), its smaller memory position. But set beside the buying reported since, even that exit arguably looks like profit-taking after a huge run.
The boom doesn't erase the cycleWhy leave 15% of a fund in one memory stock? Because the earnings have become enormous.
In the fiscal third quarter of 2026 (the period ended May 28, 2026), Micron's revenue reached $41.5 billion, more than quadruple the year-ago period's $9.3 billion. That was up from $23.9 billion just one quarter earlier, too. Net income came in at $28.2 billion, up about 15-fold year over year. And management guided the fiscal fourth quarter, which ended this week, to about $50 billion of revenue at a gross margin of about 86%.
Demand from artificial intelligence data centers is doing most of the work. Micron's cloud memory unit alone produced $13.8 billion of fiscal Q3 revenue, about four times its year-ago total.
Also worth noting: the guided step up in revenue, about $8.5 billion, would be smaller than either of the last two sequential jumps. And that is with an extra, 14th week in the quarter. Put another way, the growth is decelerating.
Of course, memory has always moved in cycles, and the down half is brutal. Three years ago, in fiscal 2023, Micron lost $5.8 billion as revenue roughly halved.
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Investors haven't forgotten. Micron trades at about 6.5 times expected earnings for its next fiscal year -- and a price-to-earnings multiple that low, on earnings still climbing, usually means the market expects those earnings to fall.
Ultimately, I see the same opinion in Tepper's positioning and in Micron's valuation. The profits are enormous. How long they last is the question.
My own stance lands close to his. I view Micron stock as a hold here. I wouldn't sell a business earning like this, but this deep into the cycle's good half, I wouldn't put new money in at today's price either. And this cyclicality is risky. So keep that in mind.
Sure, holding without adding could mean missing more upside if this boom is still in its early innings. I'm comfortable with that.
In the latest trading session, Texas Instruments (TXN - Free Report) closed at $258.44, marking a +1.82% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.29%.
The chipmaker's shares have seen a decrease of 8.83% over the last month, not keeping up with the Computer and Technology sector's gain of 2.81% and the S&P 500's gain of 2.08%.
Investors will be eagerly watching for the performance of Texas Instruments in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.39, reflecting a 61.49% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.91 billion, up 24.69% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $8.45 per share and a revenue of $21.7 billion, demonstrating changes of +55.05% and +22.73%, respectively, from the preceding year.
Any recent changes to analyst estimates for Texas Instruments should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.82% upward. Texas Instruments is currently a Zacks Rank #2 (Buy).
Digging into valuation, Texas Instruments currently has a Forward P/E ratio of 30.04. This represents a discount compared to its industry average Forward P/E of 35.05.
We can additionally observe that TXN currently boasts a PEG ratio of 1.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Semiconductor - General industry had an average PEG ratio of 1.77 as trading concluded yesterday.
The Semiconductor - General industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 25, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
BitGo propojilo své institucionální self-custody peněženky s DecibelTrade prostřednictvím WalletConnect, takže klienti mohou obchodovat spot i perpetual kontrakty bez přesunu aktiv mimo BitGo. Podpora je zatím pro Ethereum a Solanu, vypořádání probíhá na Aptosu.
BitGo has integrated its institutional self-custody wallets with DecibelTrade, a decentralized exchange running on the Aptos network. The September 3 announcement means eligible clients can connect directly to the DEX through WalletConnect, trading spot and perpetual contracts without ever needing to transfer assets to a separate wallet.
How the integration actually works The connection runs through WalletConnect, a protocol that lets wallets communicate with decentralized applications without exposing private keys. BitGo’s multi-party computation (MPC) wallets, which split cryptographic keys across multiple parties to prevent single points of failure, plug directly into DecibelTrade’s trading interface.
BitGo’s existing security protocols, including address whitelisting and multi-party approvals, remain active throughout the process. Every transaction still routes through the same approval workflows the firm already uses.
At launch, the integration supports trading on Ethereum and Solana networks. Trades settle on Aptos, where DecibelTrade operates using a central limit order book (CLOB) model with sub-second transaction finality. A CLOB works like a traditional stock exchange order book, matching buyers and sellers at specific prices, which should feel more familiar to institutional traders accustomed to traditional market structure.
BitGo’s broader DeFi push BitGo rolled out WalletConnect support in February 2026, initially enabling DeFi activities across EVM-compatible chains and Solana. The DecibelTrade integration represents the next step: establishing a direct pipeline to a specific, institutional-grade trading venue.
DecibelTrade launched on the Aptos mainnet in 2026. Aptos was built by former Meta engineers using the Move programming language.
What this means for institutional DeFi adoption Previously, an institution wanting to trade on a DEX would typically need to withdraw assets from custody, send them to a hot wallet, execute trades, and then move everything back. With this integration, assets never leave BitGo’s infrastructure, approval chains stay intact, and audit trails remain continuous.
The initial network support covers Ethereum and Solana, with expansion to additional networks planned as the platform grows. The announcement has not yet prompted notable price reactions in the cryptocurrency market.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Pendle spustil na Robinhood Chain svůj první trh pro obchodování s výnosem se sNET, který umožní oddělit a obchodovat jistinu a budoucí výnos až do splatnosti 17. září 2026.
Pendle has launched its first yield-trading market on Robinhood Chain, giving sNET holders access to fixed and variable yield positions until the market matures on Sept. 17, 2026.
Summary
Pendle has deployed on Robinhood Chain with sNET as its first supported market. The sNET market will let users separate and trade principal and future yield. Robinhood Chain launched on July 1 as an Ethereum Layer 2 built with Arbitrum technology. Pendle held about $1.23 billion in total value locked at the time of reporting. Pendle opens its first Robinhood Chain market Pendle said in a Sep. 4 announcement that its protocol is now live on Robinhood Chain, adding fixed-yield products and yield trading to the network’s decentralized finance ecosystem.
The deployment begins with one sNET market scheduled to mature on Sept. 17. Pendle did not identify the assets planned for subsequent markets or provide a timetable for adding them, saying only that more products would arrive as the ecosystem develops.
Pendle is live on Robinhood Chain by @RobinhoodCrypto.
Adding a native layer for fixed yield and yield trading to the chain’s DeFi economy.
First up is sNET (17 Sep 2026 maturity), with more markets to follow as we expand across the ecosystem! pic.twitter.com/VerEaWzQhK
— Pendle (@pendle_fi) September 4, 2026 Issued by NetNet Capital, sNET is the staked form of NET, a reserve-backed token native to Robinhood Chain. NetNet’s public materials describe the protocol as a reserve manager for NET, with a treasury containing assets that include the USDG stablecoin. Users who stake NET receive sNET and become eligible for distributions generated under the protocol’s staking model.
NetNet also uses bond sales to acquire assets for its treasury. Its model draws from reserve-backed token systems in which market participants exchange selected assets for discounted NET, while the protocol controls the deposited liquidity. NetNet has described USDG as one of the assets held in the treasury, although the value of NET and returns from sNET remain exposed to the protocol’s reserves, market structure and smart contracts.
Adding sNET to Pendle allows traders to separate the asset’s principal from the yield it may generate before Sept. 17. The structure turns a single yield-bearing position into components that users can trade according to their expectations for future returns.
How Pendle splits sNET principal and yield According to Pendle’s documentation, the protocol wraps supported yield-bearing assets through its Standardized Yield format before dividing a position into Principal Tokens and Yield Tokens.
A Principal Token, commonly shown as PT, represents the underlying principal that becomes redeemable when the market reaches maturity. PT can also trade before that date, allowing a buyer to purchase the future principal at the prevailing market price.
Yield Tokens, or YT, provide the right to yield generated by the underlying asset until maturity. Holders can claim accrued returns through Pendle’s interface, but YT stops earning once the market expires. Its remaining value, therefore, declines as maturity approaches unless changes in the underlying rate or incentives support demand.
For the sNET market, the Sept. 17 date establishes when PT becomes redeemable and YT stops collecting returns. Traders who buy PT can seek an implied fixed return by holding the position through maturity, while YT buyers take exposure to changes in sNET’s yield during the remaining term.
Pendle calculates the implied annual percentage yield from the relative prices of PT and YT. Although the platform describes the rate available through PT as a fixed APY, its terms state that the figure is an implied annualized return based on the purchase price and an assumption that the position remains open until maturity. It is not a contractual guarantee.
Buying YT can amplify exposure because a trader pays for the yield component rather than the full underlying asset. Pendle warns in its documentation that long-yield returns can be negative when the income collected before maturity falls below the amount paid for YT.
Liquidity providers face a different mix of returns. Pendle says its pools contain PT and Standardized Yield assets, with providers potentially receiving swap fees, underlying yield, an implied return from PT, and protocol incentives where available.
Robinhood Chain adds another DeFi protocol Robinhood opened the chain’s public mainnet on July 1 as a permissionless Ethereum Layer 2 built using Arbitrum technology. The network uses ETH for transaction fees, supports Ethereum-compatible wallets, and posts transaction data to Ethereum.
Its first group of infrastructure and trading partners included Uniswap, Pleiades, Alchemy, BitGo, and Chainlink. Robinhood said the network was designed for tokenized financial assets, lending, trading, and applications that can use real-world assets inside smart contracts.
Robinhood Crypto executive Johann Kerbrat said during the mainnet announcement that decentralized finance had offered functions unavailable in traditional markets but had historically required technical knowledge to use.
“We’re bringing the best of traditional finance and DeFi together, and in doing so, expanding financial ownership to every corner of the globe.”
Activity grew quickly after the launch. As crypto.news previously reported, Robinhood Chain processed about $945 million in decentralized exchange volume on Aug. 25, up from its former daily record of $563 million on July 8. Cumulative DEX volume exceeded $47 billion in less than two months, while total value locked reached roughly $1.4 billion by late August.
Uniswap has served as a major liquidity venue since the mainnet opened. In August, its stock-token volume passed $1 billion, covering combined swaps across several tokenized equities rather than deposits or activity from a single asset.
Robinhood Chain generated $4.01 million in application revenue from $4.45 million in fees on Sept. 2, according to a recent revenue report. The DeFiLlama snapshot placed it above Solana, Ethereum and Tron for the measured day, although much of the fee activity came from trading applications and memecoin platforms rather than tokenized stocks.
Robinhood has covered gas costs for eligible transactions completed through Robinhood Wallet during a 90-day promotion that began with the mainnet launch. The subsidy is scheduled to end around Sept. 29, while people using third-party wallets already pay network fees in ETH.
U.S. access depends on the product Robinhood describes its blockchain as permissionless, meaning users can connect with supported self-custody wallets without opening a Robinhood brokerage account. The company also states that activity on the network remains separate from investments and balances held through its brokerage and centralized crypto services.
Product restrictions still apply at the application and asset levels. Robinhood says its Stock Tokens are unavailable to U.S. residents even though they track companies listed on American exchanges, including Apple, Alphabet, and Nvidia.
Stock Tokens are debt securities issued by Robinhood Assets Jersey Limited and provide economic exposure to referenced securities. Robinhood’s disclosures state that token holders do not gain legal or beneficial ownership of the underlying shares, including shareholder voting rights.
Pendle’s announcement did not say whether its sNET market carries geographic restrictions or whether Robinhood Wallet will surface the product directly to American users. Access through the permissionless network does not establish that a particular interface or financial product is legally available in every jurisdiction.
Pendle expands its multichain presence Before the Robinhood Chain deployment, Pendle operated across networks including Ethereum, Arbitrum, BNB Chain, Base, Mantle, Optimism, HyperEVM, Monad and Plasma. Its earlier Plasma expansion introduced five markets tied to assets such as USDe, sUSDe, USDai, and syrupUSDT.
DefiLlama data showed approximately $1.23 billion locked across Pendle products at the time of reporting, with Ethereum accounting for more than half of the total. The data provider also recorded about $542 million in Pendle decentralized exchange volume during the previous 30 days.
PENDLE traded near $1.90 on Sept. 4, rising about 1.2% over 24 hours and 9.1% across seven days. Its market capitalization stood near $327 million, based on roughly 172 million tokens in circulation.
NetNet’s NET changed hands near $1,012 on the same day, according to CoinGecko, after trading between approximately $863 and $1,371 over 24 hours. The data provider placed its circulating market capitalization near $4.5 million and identified NET-USDG on Uniswap V4 as its most active trading pair.
ChatGPT nasměroval uživatele na falešný krypto web a po jediném schválení z peněženky zmizelo 1 904 513 FXRP. Podle vyšetřovatele VAL šlo o phishing, který celkově připravil oběti o více než 2,2 milionu USD.
ChatGPT pointed a user toward a fake crypto site, and when they signed one approval, 1,904,513 FXRP left their wallet.
That is about 1.3% of the entire FXRP supply today. Investigator VAL says the same phishing setup took more than $2.2 million overall.
One Signature, 1.9 Million FXRP GoneThe victim goes by Alex on X (Twitter), an individual who asked ChatGPT in Russian where to swap sFLR, Flare’s liquid-staked token, for wrapped FLR.
The answer carried a link to sceptre.network, and not Sceptre. The real liquid staking app runs from sceptre.fi. Alex connected his wallet and approved an unlimited spending limit. He never moved the tokens himself.
Blockchain records show the drain ran shortly before 7 pm UTC on June 12. The attacker’s own contract called it. Alex’s signature had already done the work.
Lost ~1.9M FXRP to an approval-phishing scam.
I asked ChatGPT where to swap sFLR for WFLR. Its answer contained a link — it led to a phishing site. I signed an "unlimited approve," and the funds were drained via transferFrom seconds later.
Tx:… pic.twitter.com/1waLIWyotG
— Alex (@vesnuhin) June 13, 2026 The token was FXRP, Flare’s bridged version of XRP for decentralized finance (DeFi). Alex put the loss near $2.1 million.
The receiving wallet was not new either, with blockchain data showing its first funds landed on April 23, fifty days before Alex signed. It has since taken in at least four different Flare tokens, suggesting he may have not been the only target.
“This wallet has been operating since April 2026, receiving FLR in varying amounts,” on-chain investigator Val noted.
BeInCrypto described this method earlier in the year, three weeks before Alex clicked. Drainers register lookalike Uniswap domains and buy search ads to farm approvals.
@Uniswap typing your name on Google has shown a scam site at the top for weeks.
Many users have reported losing funds after connecting wallets to an identical interface.
The site is now down (404), but the URL still appears. It can be reused or reactivated by scammers.
Please… pic.twitter.com/tZm5uYzlJK
— BeInCrypto (@beincrypto) March 31, 2026 The unlimited approval is the whole attack, just as one Ethereum holder learned after losing $999,999 to one signature.
OpenAI’s Agents Took Over a German WikiElsewhere, Reuters reported Friday that agents linked to OpenAI made about 15,000 edits to DseWiki, a quiet German programming wiki, starting in May.
Researchers led by Sydney Von Arx of the AI safety nonprofit Nightingale found the agents swapping tips. They traded ways to cheat tasks, dodge OpenAI’s rules and hide their tracks. About half took names like OpenAIResearcher.
When a moderator began deleting pages in June, the agents saved ZZZ-prefixed copies. An alphabetical sweep reaches those last. Some discussed using Tor.
OpenAI has not accepted the findings.
“We are unable to meaningfully respond to claims or findings on a report that we have not had an opportunity to review” Reuters reported, citing an OpenAI spokesperson.
A July breakout went further, with roughly 1,200 agents gathering on an improvised board. About 700 then breached Hugging Face. BeInCrypto covered that escape in August, when OpenAI gated its cyber model.
This could be one of the most significant AI safety incidents to date.
Reuters reports that OpenAI agents escaped their testing environment and made more than 15,000 edits to a German wiki, effectively turning it into a message board for other AI agents.
They allegedly used it… https://t.co/zt1fnNNfho pic.twitter.com/lY5Jk6kNfs
— Chubby♨️ (@kimmonismus) September 4, 2026 The two cases share a medium, not a culprit. Criminals seeded the web so a model would echo their link. OpenAI’s agents wrote to it themselves. Both worked because a page looked safe.
Flare, a renowned L1 blockchain network, has witnessed notable on-chain effects from its tokenomics overhaul. This comes after the FIP.16 proposal obtained 98.06% support from Flare’s governance participants. As per DefiLlama, the proposal decreased yearly $FLR inflation, enhanced transfer fees, and unveiled mechanisms to create a relatively strong link between the token supply mechanics and network activity. So, since the start of significant changes, a noteworthy jump has taken place in $FLR staking from almost 16B tokens to nearly 21.5B.
Flare FIP.16 Overall Bolsters $FLR Burns and Decreases Inflation The tokenomics overhaul of Flare is showing a considerable impact, especially after 98.06% governance support for the FIP.16 proposal. In the meantime, transfer-led burns have spiked to over 10 times in comparison with the pre-fork baseline. The changes present an early sign of whether the network can transform the economic framework from inflation-funded benefits toward revenue that genuine protocol usage generates. Particularly, FIP.16 was passed on the 24th of April, combining many key changes influencing $FLR issuance, staking weight, protocol revenue, token burns, and transfer fees.
The initial major adjustment occurred on the 14th of May, when yearly inflation was decreased from up to 5% to just 3%. At the same time, the annual issuance ceiling dropped from 5B to nearly 3B $FLR. Additionally, the robust inflation base also saw a reduction. Specifically, this calculation does not include permanently burned $FLR tokens, $FLR that the Flare Income Reinvestment Entity controls, and unearned rewards kept in diverse penalty pools. While these balances increase, the supply against which the up to 3% rate is reportedly applied gets smaller, likely decreasing additional issuance.
Another major change took place through the July 14 hard fork. With this, Flare introduced a 20-fold increase in the base transfer fee to bolster the automatic $FLR burn model of the network. Irrespective of the surge, a simple transaction costs just 0.064 $FLR, maintaining a relatively low base for the practical expense. Additionally, FIP.16 has altered the distribution of economic influence across the network.
Tokenomics Overhaul Drives $FLR Staking As a result, P-chain stake gets 5 times the C-chain delegation’s signing weight, leading to more influence for the $FLR tokens locked with validators. This development is set to support capital that is committed to ecosystem security when compared with liquid delegated tokens prone to being withdrawn relatively easily. The peak validator size surged from 200M to 300M $FLR, with the introduction of a minimum 20% delegation fee across the network.
According to DefiLlama, the effect of Flare’s economic overhaul includes the jump in staked $FLR tokens from 16B to 21.5B in July. Along with that, the staking share of delegated and staked $FLR tokens spiked from 32% to 46% between April and August. Additionally, FIRE is another crucial element of this overhaul, as the pool reduces the $FLR supply via open-market buyouts and burns. Overall, Flare’s FIP.16 denotes a crucial shift in the tokenomics, with increasing protocol revenue, rising burns, and growing staking paving the way for a relatively sustainable network.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Opendoor Home Loans ukončil beta provoz a nabízí 30-, 20- a 15leté fixní hypotéky i 5/6, 7/6 a 10/6 hypotéky s pohyblivou sazbou. Služba je dostupná na licencovaných trzích pro jakýkoli nákup nemovitosti.
Opendoor Home Loans now offers 30-, 20-, and 15-year fixed-rate mortgages, plus 5/6, 7/6, 10/6 adjustable-rate mortgages for any home purchase in markets where Opendoor Home Loans is licensed. | Source: Opendoor Technologies Inc.
SAN FRANCISCO, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Opendoor (NASDAQ: OPEN), the e-commerce platform for residential real estate, today announced that Opendoor Home Loans has exited beta and now offers 30-, 20-, and 15-year fixed-rate mortgages, plus 5/6, 7/6, and 10/6 adjustable-rate mortgages.
The announcement comes as mortgage rates move higher. Freddie Mac’s weekly survey reached 6.71% for a 30-year fixed mortgage and 6.04% for a 15-year fixed mortgage on September 3, with the 30-year average at its highest level in 13 months.
For homebuyers, when financing gets more expensive, the rate matters. So do lender fees, paperwork, delays, and the back-and-forth required to keep the home purchase and mortgage on track. When those processes are handled in separate systems, each question or document can create another delay. Opendoor built its mortgage experience around the homebuying process, with software handling more of the repeatable work in one place.
“Buying a home is two things: the home and the money,” said Kaz Nejatian, Chief Executive Officer of Opendoor. “They’re handled by separate systems, with separate incentives and too much avoidable cost. We built Opendoor Home Loans for the way most people buy a home. We can’t control the market rate, but we can control the cost and friction around it. The pork-barrel buffet around mortgage costs has to end.”
Opendoor Home Loans lets buyers handle more of the process online, with access to licensed mortgage professionals when they need help. The current experience includes:
Prequalification in minutes without a hard credit pull.A digital application with online income and asset verification.Online document verification, with fewer handoffs through closing.
Opendoor Home Loans is available for any home purchase in markets where it is licensed, not just for purchases of Opendoor homes. Eligibility, rates, terms, and availability vary by borrower, property, loan amount, loan-to-value ratio, credit profile, state, and other factors.
Buyers can learn more at opendoor.com/mortgage.
About Opendoor
Opendoor exists to tilt the world in favor of homeowners by making homeownership simpler, faster, and fairer for everyone. Since 2014, Opendoor has given people a more convenient, more certain way to buy and sell a home, whether they already own or are working hard to become homeowners. Opendoor currently operates in markets across the U.S. For more information, please visit www.opendoor.com.
Mortgage disclosure
Opendoor Home Loans LLC. NMLS ID #2810193. Verify our license at NMLS Consumer Access. All mortgage lending products and information provided by Opendoor Home Loans LLC.
This is not a commitment to lend. All loans are subject to credit approval, underwriting, and property approval. Programs, rates, terms, and conditions are subject to change without notice.
HII uvedla, že v roce 2025 zvýšila průchodnost loděnic meziročně o 14 % a pro rok 2026 cílí na další růst o 15 %. Firma chce zrychlit stavbu pro U.S. Navy díky modernizaci, náboru a rozšíření dodavatelského řetězce.
SANTA CLARITA, Calif., Sept. 04, 2026 (GLOBE NEWSWIRE) -- HII’s (NYSE: HII) executive vice president of maritime systems and corporate strategy, Eric Chewning, reaffirmed the company’s commitment to strengthening the nation’s defense industrial base and revitalizing U.S. shipbuilding today during a House Appropriations Subcommittee on Defense field hearing. Speaking at College of the Canyons before subcommittee Chairman Rep. Ken Calvert, and members of the subcommittee, Chewning underscored the critical importance of a modernized workforce, upgraded shipyard infrastructure, and an expanded maritime industrial base.
“America’s ability to maintain peace and defend our interests depends on a strong, secure, and ready industrial base,” Chewning said. “At HII, our mission to deliver the world’s most powerful ships and all‑domain solutions is only possible because of our dedicated workforce and the continued support of Congress and the U.S. Navy.”
A photo accompanying this release is available at www.HII.com/newsroom.
Chewning, drawing on his experience as former Deputy Assistant Secretary of Defense for Industrial Policy, highlighted past reforms during the hearing to address strategic threats and bolster resilience. He also emphasized what HII is doing to accelerate throughput to meet national security demands.
“In 2025, throughput in our shipyards increased by 14% year-over-year,” said Chewning. “And with approximately 40 ships at Ingalls and Newport News in active construction or modernization, our focus in 2026 is clear: we must build on this momentum and continue delivering ships at a greater pace to the U.S. Navy. We are targeting a 15% year-over-year throughput increase in 2026.”
Chewning said HII’s strategy to increase throughput centers on three parts: hiring, teaching, and retaining a world-class workforce; modernizing shipbuilding infrastructure with capital investments such as the use of physical AI in shipbuilding; and expanding the maritime industrial base by growing HII’s supply chain and implementing a distributed shipbuilding strategy.
While describing the strategy, Chewing thanked Congress and the Navy for their support that enabled HII to enter into new shipyard collective bargaining agreements that provided competitive wage increases to maintain a highly skilled workforce. In addition, he highlighted HII’s ongoing industrial base expansion, including a plan to strategically outsource more than two million hours of work in 2026, a 178% increase from 2024. The outsourced work will increase HII’s shipbuilding throughput and create jobs in communities across the country and will give small- and medium- sized businesses improved confidence to invest in their own capacity and workforce.
Additional contributions to the revitalization discussion included progress at HII’s Newport News Shipbuilding Charleston Operations. Chewning pointed out the facility is a model for maritime industrial base revitalization. Working closely with the U.S. Navy, the State of South Carolina, and the Department of Defense’s Industrial Base Policy Office, HII was able to transform the underutilized facility into a growing advanced manufacturing campus supporting the submarine industrial base and expanding skilled trade opportunities.
“This is a powerful example of what can be achieved when industry, the federal government, and state partners work together to strengthen America’s maritime dominance,” said Chewning. “We thank the U.S. Navy, Congress, and specifically the House Defense Appropriations Subcommittee for their continued support and look forward to working together to ensure America’s maritime superiority for generations to come.”
You can read the full written testimony here: https://appropriations.house.gov/schedule/hearings/field-hearing-industrial-base-and-workforce-development-skilled-trades.
About HII
HII is America’s largest shipbuilder, delivering the world’s most powerful ships and all-domain mission technologies, including unmanned systems, to U.S. and allied defense customers. HII is the largest producer of unmanned underwater vehicles for the U.S. Navy and the world.
With a more than 140-year history of advancing U.S. national security, HII builds and integrates defense capabilities extending from the core fleet to C6ISR, AI/ML, EW and synthetic training. Headquartered in Virginia, HII’s workforce is 45,000 strong. For more information, visit:
HII on the web: https://www.HII.com/HII on Facebook: https://www.facebook.com/TeamHIIHII on X: https://www.twitter.com/WeAreHIIHII on Instagram: https://www.instagram.com/WeAreHIIHII on LinkedIn: https://www.linkedin.com/company/wearehii Contact:
Danny Hernandez
Danny.J.Hernandez@hii-co-com
(202) 264-7143
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/428157cc-ebb3-4012-9125-a5d5dcddbb78
Cencora ve 3. čtvrtletí zvýšila tržby v U.S. Healthcare Solutions o 5 % na 74,9 miliardy USD a provozní zisk segmentu vzrostl o 16 % na 966 milionů USD. Tahounem byl specializovaný byznys a OneOncology.
Key Takeaways COR's U.S. Healthcare Solutions revenues rose 5%, with specialty strength driving 16% operating income growth.OneOncology is driving growth through integration, new services, trials and tuck-in acquisitions.GLP-1 growth boosts volumes, while drug-price cuts and the MWI divestiture weigh on earnings prospects. Cencora (COR - Free Report) is well poised for growth on the back of a robust U.S. Healthcare Solutions business and product launches. However, intense competition is a concern.
This Zacks Rank #3 (Hold) company’s shares have lost 0.2% in the year-to-date period compared with the industry’s 3.1% decline. However, the S&P 500 Index has gained 11.4% in the same time frame.
Cencora is one of the world’s largest pharmaceutical service companies. It is focused on providing drug distribution and related services to reduce healthcare costs and improve patient outcomes. The company has a market capitalization of $64.19 billion.
COR’s bottom line is anticipated to improve 9.9% over the next five years. Its earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 0.76%.
Image Source: Zacks Investment Research
Let’s delve deeper.
Positive Factors Driving COR’s ProspectsU.S. Healthcare Solutions Shows Momentum: Cencora’s U.S. Healthcare Solutions business is showing accelerating underlying momentum, particularly in specialty. Fiscal third-quarter revenues rose 5% to $74.9 billion, while segment operating income increased 16% to $966 million. Specialty strength across health systems, physician practices and MSOs drove the improvement, with OneOncology and RCA outperforming expectations.
Excluding the lost oncology customer and OneOncology’s contribution, core operating income still grew at a double-digit rate, versus 7% in the prior quarter. The company also expects fourth-quarter results to deliver strong double-digit growth as it fully laps the oncology customer loss and benefits from an easier expense comparison. This suggests that underlying demand and execution are strengthening beyond acquisition-related contributions.
OneOncology Offers Significant Runway for Growth: OneOncology is emerging as a meaningful long-term growth platform beyond its initial distribution and GPO benefits. Management said the acquisition is performing modestly above expectations, while its three-phase value-creation plan is progressing through integration, capability sharing and new services. The most attractive opportunity is clinical trials.
OneOncology remains in the early stages of building this business, unlike RCA’s more mature platform. Cencora expects community-based oncology sites to expand trial access and improve patient accrual, creating value for both physicians and pharmaceutical manufacturers. Continued physician additions and tuck-in acquisitions could increase network density, strengthen manufacturer relationships and create higher-value services, potentially making the MSO platform an increasingly important earnings contributor.
Specialty Logistics and International Operations Provide Diversification: Cencora’s specialty logistics and international operations are providing an increasingly diversified earnings stream. International Healthcare Solutions revenues increased 6% to $7.7 billion, while operating income rose 21% as World Courier and European 3PL delivered double-digit operating-income growth.
World Courier is benefiting from stabilization after a challenging fiscal 2025, while 3PL gained from strong renewals and new business wins. These businesses also benefit from specialized capabilities and Cencora’s pharmaceutical-centric positioning that differentiate it from broader logistics competitors.
Although a one-time European pricing-timing benefit will not repeat in the fourth quarter, the underlying specialty logistics pipeline remains healthy, improving the segment’s ability to offset volatility in U.S. pharmaceutical distribution.
GLP-1 Growth and Part B Biosimilars Create Structural Volume Opportunities: GLP-1 demand is becoming an important structural volume driver for Cencora. U.S. Healthcare Solutions recorded a $2.3 billion year-over-year increase in GLP-1 sales, with management indicating approximately 25% growth, broadly in line with expectations.
While GLP-1 products can carry different economics from traditional pharmaceuticals, the rapid expansion increases distribution volumes and reinforces Cencora’s relevance to manufacturers and downstream customers.
The company’s specialty-centric model should benefit from continued pharmaceutical innovation, including biosimilars and complex therapies. Cencora also sees Part B biosimilars as particularly attractive because its distribution, GPO and MSO services provide greater value around physician-administered products, creating a more favorable profit opportunity than Part D switches.
Key Challenges for COR StockDrug-price Reductions Continue to Suppress Headline Growth: Manufacturer list-price reductions remain a major drag on Cencora’s headline revenue growth and could continue to obscure underlying operating momentum. In the fiscal third quarter, U.S. Healthcare Solutions revenues were supported by $2.3 billion of incremental GLP-1 sales, but this was more than offset by a $2.4 billion headwind from manufacturer list-price reductions.
The company also absorbed the prior-year loss of an oncology customer and lower sales to a large mail-order customer. Management expects full-year U.S. revenue growth in the lower half of its 4-6% guided range. This highlights the structural challenge of generating revenue growth in a distribution model where lower drug prices can reduce reported sales even when volumes and underlying profitability remain healthy.
MWI Divestiture Could Create Meaningful Earnings Headwind: Cencora’s near-term earnings outlook faces a difficult comparison from the pending MWI Animal Health transaction with Covetrus. Management expects the deal to create an approximately $150 million operating-income headwind within Other if it closes around the midpoint of fiscal 2027, translating into an estimated 35-cent EPS headwind after accounting for the transaction structure. The company has not yet provided a firm closing timetable, as regulatory review remains ongoing.
Although the transaction includes upfront cash, preferred equity and common equity that partially offset the earnings impact, the divestiture would reduce MWI’s reported earnings contribution. Investors therefore face a potential earnings reset in fiscal 2027, even if the core healthcare businesses continue to perform strongly.
Regulatory and Pricing Uncertainty Could Pressure Specialty Economics: Regulatory and pricing uncertainty remains a persistent risk to Cencora’s specialty and distribution economics. Management is assessing proposed changes to 340B and ASP rules, acknowledging that the eventual impact could vary across its broad customer base and is not yet quantifiable.
Cencora believes policymakers are unlikely to reduce physician reimbursement, but the outcome remains dependent on future regulatory decisions. The company expects international revenue growth to slow to approximately 8% as the stronger U.S. dollar weighs on reported results, while a favorable manufacturer price-adjustment timing benefit in European distribution is not expected to repeat in the fourth quarter. These factors increase the risk that favorable current trends normalize faster than underlying volume growth suggests.
Estimate TrendCOR has been witnessing a stable improving revision trend for fiscal 2026. In the past 30 days, the Zacks Consensus Estimate for earnings has moved north 8 cents to $17.79 per share.
The consensus mark for fourth-quarter fiscal 2026 revenues is pegged at $88.09 billion, indicating a 5.2% improvement from the year-ago reported actuals. The bottom-line estimate is pinned at $4.51, implying year-over-year growth of 17.5%.
Stocks to ConsiderSome better-ranked stocks from the broader medical space are Globus Medical (GMED - Free Report) , Veracyte (VCYT - Free Report) and West Pharmaceutical (WST - Free Report) .
Globus Medical, currently flaunting a Zacks Rank #1 (Strong Buy), reported a second-quarter 2026 adjusted earnings per share (EPS) of $1.34, which surpassed the Zacks Consensus Estimate by 19.6%. Revenues of $789.6 million beat the Zacks Consensus Estimate by 0.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
GMED has an estimated long-term earnings growth rate of 12.4%. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 27.9%.
Veracyte, currently carrying a Zacks Rank #2 (Buy), reported a second-quarter 2026 adjusted EPS of 54 cents, which surpassed the Zacks Consensus Estimate by 25.6%. Revenues of $150.3 million beat the Zacks Consensus Estimate by 4.1%.
VCYT has an estimated earnings growth rate of 8.4% for 2026. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 41.8%.
West Pharmaceutical, carrying a Zacks Rank #2 at present, reported second-quarter 2026 adjusted EPS of $2.37, which beat the Zacks Consensus Estimate by 13.9%. Revenues of $872.3 million surpassed the Zacks Consensus Estimate by 4.2%.
WST has an estimated long-term earnings growth rate of 16%. WST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 17.4%.
SoundHound AI (SOUN +0.00%) was once a darling of the artificial intelligence trend, and its stock skyrocketed to nearly $25 per share at the end of 2024. But it has spent a lot of the time since then selling off, and now trades for less than $7 per share. However, that doesn't mean its business hasn't been performing impressively in the meantime.
The reality is that the stock got ahead of itself during its late 2024 run-up, but the company hasn't misstepped since then. It's delivering impressive results and growing at a solid pace. But has that primed the stock to double over the next year?
Image source: Getty Images.
SoundHound AI combines artificial intelligence with powerful speech recognition. This has countless applications, but the biggest area of adoption right now is in restaurant order automation, specifically in drive-thrus. This is a fairly low-stakes application, and with a limited menu, there aren't many things for an AI to recognize and understand.
Eventually, SoundHound AI aims to become a larger part of customer service, particularly in industries such as banking, healthcare, and insurance. Companies in these sectors spend significant sums to staff their customer service lines; if SoundHound AI's product could automate a significant number of their interactions with customers, it would be one of the most useful AI applications to date.
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SoundHound AI has several clients in these industries performing trials of its software and developing use cases for it. Investors will need to keep an eye on this: If the company's services prove to be a hit with large organizations, those types of contracts could take off and send the stock soaring.
Even with many trials underway, SoundHound AI's revenue rose 45% year over year to $62 million in Q2. The company is nowhere near profitable, but it has plenty of cash on the books to keep its operations going while it works its way toward that goal. There's a viable enough business model here that it should be able to raise capital to continue operations if it needs to, so investors shouldn't worry about SoundHound AI running out of funding.
The question is, how long will it be before SoundHound AI's software really takes off in the marketplace? That's the real unknown with the stock. Moreover, it could still lose out to another AI company's rival voice-interface offering. This makes SoundHound AI a high-risk, high-potential reward stock, but the stock is priced about right for that.
SOUN PS Ratio data by YCharts.
SoundHound AI trades for less than 15 times sales, which isn't a bad price to pay for a company growing this fast in a market that's potentially huge.
I'm not sure if SoundHound AI stock can double over the next year, but if sales of its software start to take off, I think it has a strong chance to soar. Otherwise, it may hang out in the sub-$10 range for the foreseeable future.
Circle chystá 16. září spuštění Arc Mainnet s více než 100 soukromými partnery a validátory, což má rozšířit jeho roli mimo vydávání stablecoinů. Firma zároveň zvýšila celoroční výhled ostatních výnosů na 310–330 milionů USD.
Key Takeaways CRCL's Sept. 16 Arc launch includes 100 private mainnet partners and validators.Circle raised 2026 other-revenue guidance, partly tied to Arc milestone recognition.CRCL's Arc opportunity is balanced by higher spending and a premium forward sales valuation. Circle Internet Group, Inc. (CRCL - Free Report) is approaching a Sept. 16 Arc Mainnet launch that could broaden its role beyond stablecoin issuance. Circle is trying to turn its digital-asset network into infrastructure used by financial institutions, payments companies and capital-markets participants.
The key question is whether Arc can generate recurring activity after launch. Institutional participation, higher other-revenue guidance and Circle Payments Network growth support the theme, but milestone-based revenues and elevated spending keep execution risk in focus.
CRCL’s Arc Launch Brings Institutional ScaleArc is scheduled to launch with more than 100 private mainnet partners and validators. Its testnet had processed 502 million cumulative transactions and reached 2.8 million cumulative transacting wallets by June 30.
The validator group includes major financial and payments firms. Visa Inc. (V - Free Report) has said Arc is being added to its stablecoin settlement pilot and that it plans to operate a validator once the network goes live.
Circle’s Arc Economics Could Lift Other RevenueCircle completed a $242 million Arc Token presale in the second quarter. About $180 million is expected to be recognized in 2026 as product milestones are achieved.
Management raised full-year other-revenue guidance to $310-$330 million from $150-$170 million. The increase is partly tied to Arc, making milestone achievement important to reported non-reserve revenues this year.
CRCL’s Partners Point to Real Financial WorkflowsBlackRock, BNY, DTCC and Standard Chartered are exploring Arc integrations involving tokenized-asset settlement, custody, stablecoin access, foreign exchange and repo infrastructure. Those use cases move Arc toward institutional financial workflows.
Mastercard Incorporated (MA - Free Report) is another relevant payments reference. Mastercard has announced plans to expand settlement options using regulated stablecoins, including USDC, across multiple blockchain networks.
Circle Needs Utility Beyond Milestone RevenuePresale recognition can lift 2026 results, but it does not establish a recurring earnings stream. Arc’s longer-term contribution will depend on sustained transaction activity, partner integrations and monetization after the initial launch milestones.
Circle is also spending to build the platform. Adjusted operating expenses rose 23% year over year to $146 million in the second quarter, and management expects full-year spending near the high end of its $570-$585 million guidance range.
CRCL’s CPN Shows How Network Utility Can ScaleCircle Payments Network offers an early example of infrastructure translating into usage. Annualized total payment volume moved from zero in the second quarter of 2025 to $14.7 billion at the end of the second quarter of 2026.
By July 31, annualized payment volume had reached about $23 billion. CPN had 175 enrolled financial institutions across 58 countries, and linking that activity with Arc and USDC could deepen Circle’s role in settlement.
CRCL’s Growth Profile Still Comes With Valuation RiskArc could help diversify Circle’s revenue mix, but CRCL already carries a premium valuation. The stock trades at 7.4X forward 12-month sales, versus 2.6X for its Zacks sub-industry and 4.8X for the S&P 500.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #3 (Hold). CRCL has a Growth Score of B and Momentum Score of A, while its Value Score of F and VGM Score of C show weaker value characteristics and a mixed combined style profile. That combination supports a measured view as Arc moves from launch catalyst to execution test. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Figma klesá o 4,16 % na 24,17 USD, protože silnější dolar a vyšší očekávání úrokových sazeb tlačí na softwarový sektor. Firma přesto ve 2. čtvrtletí zvýšila tržby na 370,1 milionu USD a zvýšila celoroční výhled.
Shares of Figma Inc. (NYSE:FIG) are trading lower Friday afternoon, extending recent weakness as broader macro headwinds hit the cloud software sector despite the company’s strong underlying fundamental momentum. Here’s what investors need to know.
Figma shares are retreating from recent levels. What’s pressuring FIG stock? Stronger Dollar and Interest Rate Fears Pressure Growth SectorShares of software companies are trading lower after August’s hotter-than-expected payrolls report increased expectations that the Federal Reserve could raise interest rates at its next meeting.
A stronger U.S. dollar and higher rate expectations are weighing on growth stocks by reducing investor appetite for higher-risk assets.
Q2 Revenue Beat and Raised Guidance Highlight AI MonetizationThe macro selling comes despite a strong second-quarter financial performance released on Aug. 5, where Figma generated revenue of $370.1 million, up 48.2% year-over-year, and delivered adjusted EPS of 8 cents, handily beating Wall Street consensus estimates for a net loss.
Driven by expanding enterprise adoption and momentum in its AI credit monetization features, management raised its full-year 2026 revenue outlook to between $1.463 billion and $1.467 billion, representing 39% year-over-year growth at the midpoint. For the third quarter, Figma projected revenue between $373 million and $375 million.
FIG Stock Falls Friday AfternoonFIG Price Action: Figma shares were down 4.16% at $24.17 at the time of publication on Friday, according to Benzinga Pro data.
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Apple (AAPL) stock fell about 2% on Friday as investors weighed reports that initial production of the company’s long-awaited foldable iPhone remains limited, raising concerns about whether Apple can meet demand when the device launches.
According to a Nikkei Asia report, production of the foldable iPhone was running at only a few hundred units per day in late August.
The report attributed the slow initial output primarily to Apple’s stringent quality-control requirements, while the company and its suppliers work to increase production.
The production constraints come shortly before Apple’s Sept. 9 launch event, where the company is expected to unveil its latest iPhone lineup.
The foldable model represents an important product milestone for Apple as it enters a category that competitors including Samsung and Huawei have developed for years.
Apple has reportedly targeted production of 8 million to 10 million foldable iPhones this year.
However, the company could fall short of that target if production does not accelerate, according to the Nikkei Asia report.
One supply chain manager familiar with the situation told Nikkei Asia that Apple has “very high quality requirements” and conducted an additional trial run in August ahead of actual production.
The source said output was only a few hundred units per day in late August and warned that the initial volume could be challenging to match with market demand.
Industry executives cited by Nikkei Asia said tens of thousands of devices would normally need to be produced each day to meet Apple’s planned production target.
The company has also encountered engineering and test-production challenges.
Apple is reportedly requiring more stringent durability testing than rival smartphone makers, including more extreme testing conditions, a higher number of folding cycles and greater screen flatness.
“The surface flatness and the performance of the hinge are among the details where Apple is asking for better production yields,” another person familiar with the situation told Nikkei Asia.
Two people familiar with the situation also told Nikkei Asia that Apple conducted an additional verification process in August to ensure the foldable iPhone could be mass-produced according to its specifications.
That process reportedly delayed commercial production by several weeks.
The foldable iPhone production challenges come as the broader smartphone industry faces shortages of memory and other electronic components.
The shortages have been linked to the massive buildout of artificial intelligence infrastructure.
IDC’s latest forecast projects that the global smartphone market will decline 16.7% this year, while the memory shortage is expected to push average smartphone selling prices up by around 27.6%.
Apple has so far been less affected than some of its more price-sensitive Chinese competitors, including Xiaomi, Oppo and Vivo.
IDC data showed Apple’s global smartphone market share rose to 20.2% in the April-to-June quarter, compared with 16.3% a year earlier.
The company is also reportedly prioritizing its three most premium iPhone models this year to optimize memory allocation and marketing resources.
The standard iPhone launch has been pushed to next spring, according to an earlier Nikkei Asia report.
The foldable iPhone could therefore arrive at a time when Apple is balancing premium product demand with component constraints.
Huawei is also preparing to release its latest generation of triple-fold phones, increasing competition ahead of Apple’s launch.
Despite the production concerns, the foldable iPhone is viewed as a significant milestone for Apple.
The device would mark the company’s entry into a smartphone segment already served by competitors such as Samsung and Huawei.
The new form factor could potentially create a new premium upgrade cycle for the iPhone, expand Apple’s addressable market and provide an additional growth driver as the broader smartphone market faces pressure.
Citi expects Apple’s first foldable iPhone, potentially called the iPhone Ultra, to start at more than $2,000.
The firm also expects the iPhone 18 Pro and Pro Max models to cost about $200 more than their predecessors.
Citi analyst Atif Malik said the iPhone lineup is expected to receive several major upgrades, including the A20 chip, variable-aperture main cameras on the Pro and Pro Max models, and Apple’s own modems.
The foldable model is expected to feature dual front and rear camera systems, an OLED display with an ultra-thin glass cover for the inner screen, and increased component content in areas including the battery, vapor-chamber cooling system and structural components.
Apple’s Sept. 9 event will also be notable as the first major product launch under new CEO John Ternus, who officially succeeded Tim Cook on Sept. 1. Ternus, a longtime Apple hardware executive, has described the upcoming launch as a major one.
Bank of America 15. září 2026 splatí všechny své dluhopisy v objemu 425 milionů CAD a 1 miliardy CAD. Výplata bude ve výši 100 % jmenovité hodnoty plus naběhlý úrok.
, /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on September 15, 2026 all CAD425,000,000 principal amount outstanding of its Floating Rate Senior Notes, due September 2027 (CUSIP No. 060505FY5, ISIN: CA060505FY50) (the "Floating Rate Notes"), and all CAD1,000,000,000 principal amount outstanding of its 1.978% Fixed/Floating Rate Senior Notes, due September 2027 (CUSIP No. 060505FZ2, ISIN: CA060505FZ26) (the "Fixed/Floating Rate Notes" and, together with the Floating Rate Notes, the "Notes").
The redemption price for each series of the Notes will be equal to 100% of the principal amount of such series, plus accrued and unpaid interest to, but excluding, the redemption date of September 15, 2026. Interest on each series of the Notes will cease to accrue on the redemption date.
Payment of the redemption price for the Notes will be made in accordance with the applicable procedures of CDS Clearing and Depository Services Inc. The Bank of New York Mellon Trust Company, N.A. is the trustee and Computershare Advantage Trust Company of Canada (f/k/a BNY Trust Company of Canada) is the paying agent for the Notes.
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving more than 69 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries and/or jurisdictions. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Forward-looking statements
Certain information contained in this news release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, and in any of our subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
Investors may contact
Lee McEntire, Bank of America
Phone: 1.980.388.6780
[email protected]
Jonathan G. Blum, Bank of America (Fixed Income)
Phone: 1.212.449.3112
[email protected]
Reporters may contact
Jocelyn Seidenfeld, Bank of America
Phone: 1.646.743.3356
[email protected]
Federální odvolací soud zrušil většinu rozhodnutí NLRB proti Starbucks v kauze údajných protiodborových hrozeb. Potvrdil ale závěr, že firma nezákonně pohrozila odepřením mateřské dovolené těhotné zaměstnankyni.
A federal appeals court on Friday declined to enforce most of a National Labor Relations Board ruling that Starbucks (SBUX.O) illegally threatened employees with reprisals for trying to unionize and pretended it was surveilling attempts to organize.
In a 2-0 decision, the 5th U.S. Circuit Court of Appeals rejected claims that the coffee chain violated federal labor law when a Wichita, Kansas, store manager and assistant manager told employees they closed their hiring portal and reduced hours because of union or other protected activities.
The New Orleans-based court upheld a finding that Starbucks illegally threatened to deny maternity leave benefits to a pregnant employee if workers unionized.
A Starbucks spokesperson said the Seattle-based company was "encouraged" by the decision, and "remains committed to protecting our partners’ rights under the law, engaging directly with our partners, and ensuring our coffeehouses can operate safely and effectively." Starbucks refers to employees as partners.
The NLRB did not immediately respond to requests for comment.
Employees at more than 700 Starbucks stores have voted to join unions, and have filed hundreds of complaints with the NLRB accusing the company of illegal labor practices.
SECOND LEGAL VICTORY
Circuit Judge Stephen Higginson said statements about the hiring portal and store hours were not threats of reprisal because a hiring pause didn't appear to imperil employees' job security, while understaffing might have justified shorter hours.
He also said store manager Carmella Neri's statements that she knew about unionization discussions and that employees should keep in mind the impact of a successful vote were not coercive, saying the statements were not "out of the ordinary."
Higginson nonetheless found substantial evidence that the pregnant employee, Maia Cuellar-Serafini, could "reasonably feel" that union activities could reduce her benefits.
The court ruled two days after Starbucks persuaded the federal appeals court in Manhattan to reverse an NLRB finding that it illegally barred workers at a store in Manhattan's Meatpacking District from wearing t-shirts or multiple pins supporting a union.
That court said the NLRB failed to properly balance Starbucks' ability to present its preferred image to customers with employees' right to encourage unionizing.
Moderna oznámila pozitivní výsledky fáze 3 pro personalizovanou mRNA vakcínu proti rakovině intismeran autogene, která zlepšila přežití bez návratu nemoci oproti samotnému Keytrudě. Akcie na zprávu vyskočily o více než 100 %.
Moderna (MRNA -2.23%) has been one of the better-performing large-cap biotechs this year. The company's shares are up 404% to date and have soared 515% over the trailing-12-month period (as of writing). The company's shares are changing hands for about $148 apiece. Notice that's down meaningfully from the $176.66 highs the stock reached earlier this year after a major clinical milestone. Does this pullback signal that Moderna has little to no upside left, or can the stock still deliver outstanding returns?
Moderna scores a major victory Moderna's performance looks very different once we zoom out. Over the past five years, the company has lost a little more than 60% of its value. That's because Moderna failed to replicate the success it achieved during the early pandemic years. The company developed one of the leading coronavirus vaccines, but as the pandemic waned and demand for vaccines declined, Moderna's financial results worsened. The market also wasn't convinced that Moderna's mRNA platform could lead to massive commercial success beyond the coronavirus market and infectious diseases more broadly.
Image source: Getty Images.
But Moderna seems to have put these fears to rest. The company recently posted phase 3 clinical trial results for intismeran autogene, an investigational personalized mRNA-based cancer vaccine. It was being tested in patients with melanoma as a combination therapy with Merck's Keytruda (Moderna is developing intismeran autogene in collaboration with Merck) versus Keytruda monotherapy. Intismeran autogene was associated with significant improvements in recurrence-free survival compared to Keytruda alone.
This clinical win sets up intismeran autogene to earn approval, but that's only part of the story. The vaccine is also being investigated for several other cancers, including lung, bladder, and kidney cancers. There are important implications for Moderna even beyond intismeran autogene. Since no mRNA-based cancer vaccines have ever received approval -- and none had produced such impressive results in a phase 3 clinical trial -- the company's entire pipeline now looks far more valuable than it was before this clinical win.
Moderna has several other mRNA cancer vaccines in various stages of clinical development. We can't guarantee they will all eventually earn approval. In fact, at least some of them will fail. But intismeran autogene's phase 3 success significantly improved the probability of approval of several of Moderna's early stage assets, which explains why the stock soared by more than 100% on the news.
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What's next for Moderna? Moderna had another important milestone this year. The company's mFLUSIVA, a flu vaccine, earned approval. mFLUSIVA performed better than some approved influenza vaccines in phase 3 studies, so it may grab a decent slice of the $8.9 billion flu vaccine market (as of last year, according to some estimates). Further, some analysts estimate that intismeran autogene could generate $5.6 billion in peak revenue, which Moderna will split on a 50/50 basis with Merck.
Moderna should also make more clinical progress over the next five years. Even if some investigational products don't generate much -- or any -- revenue in this period, Moderna's shares could rise on important clinical wins. Still, the bears will point out that the stock is now worth $59.4 billion and has a price-to-sales ratio of 27.5, both of which make it look expensive for a company that currently generates little revenue and is not profitable. Even with that caveat, my view is that Moderna remains an attractive long-term bet.
The company's pipeline is full of highly promising mRNA-based candidates across various therapeutic areas, including fairly challenging targets, that should make progress in the next few years. In the meantime, we should see the company's revenue stabilize over the medium term. Its COVID-19 portfolio will play a smaller role, while new products drive consistent top-line increases. Within five years, Moderna could be a well-established mRNA leader with several approved products under its belt and a rich pipeline of candidates. It may reward patient biotech investors with attractive returns along the way.
Costco se obchoduje zhruba za 47násobek zisku, ale srovnatelné tržby klesly čtyři reportovaná období po sobě a míra obnovy členství oslabila na 89,7 %.
Jim Cramer is sounding an alarm about a beloved retailer that loyal shoppers treat as bulletproof, and the numbers behind his warning point toward a corner of retail that most investors still underestimate.
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On CNBC’s opening bell on September 3, 2026, Jim Cramer laid out a split that inverts most people’s assumptions about American retail. The membership warehouse with the best reputation in the business is stumbling, and the chains people quietly hit for essentials are running away with the story.
Costco (NASDAQ:COST | COST Price Prediction) trades near 47 times trailing earnings while its comparable sales have gone the wrong way for four straight reporting periods. Meanwhile, Five Below (NASDAQ:FIVE), Dollar Tree (NASDAQ:DLTR), and Dollar General (NYSE:DG) have each reported quarters that would look strong in any market.
Cramer’s read is that the trade-down is real, and it is not treating Costco the way loyal shoppers assume it should.
Trading Down That Actually Works Jim Cramer said, “If you want to know what trading down looks like in a positive way, you just look at what Winnie Park has done at Five Below. Still one more amazing quarter.” The endorsement lines up with the numbers.
Five Below’s second quarter delivered net sales of $1.3 billion, up 23%, with comparable sales growth of 14% and adjusted diluted EPS of $1.68. Park raised full-year adjusted EPS guidance to a midpoint of $10.07.
Trading down describes household dollars migrating toward retailers positioned where the marginal purchase now happens. Park emphasized broad-based growth across all income cohorts, geographies, and categories, which reads as trade-in behavior from higher-income shoppers rather than pure distress buying.
At roughly 31 times earnings, Five Below is priced for growth investors, and estimate revisions have moved higher across every forward quarter. That is a materially different proposition than paying 47 times for a warehouse chain whose top line is decelerating.
Costco’s Problem Runs Deeper Than a Multiple Cramer invoked Charlie Munger’s principle that at extreme multiples the price has already paid for the future, and then applied it to Costco. He is right, and the multiple is best read as a symptom of the underlying problem.
CNBC noted that Costco’s comparable store sales declined across May, June, July, and August, and also flagged weak renewal rates for membership card purchases. Management on the last call reported the worldwide renewal rate at 89.7%, attributing the pressure to a growing mix of online sign-ups that renew at lower rates than warehouse sign-ups.
A membership retailer that struggles to keep its members has a structural issue that a rebound in gasoline traffic cannot fix. Costco’s operating leverage lives in the fees line, and although membership fees ran $1.37 billion, up 10.7% in the most recent quarter, a slower renewal cadence eventually reaches that growth rate.
The stock has noticed. Costco is down 2% over the past year and sits below both its 50-day and 200-day moving averages.
Cramer’s Generational Worry Deserves a Serious Answer Jim Cramer said, “I don’t want it to be a generational thing where my generation is Costco and the newer generations don’t look at it like that.” That is the most interesting thing he said, and the evidence is genuinely mixed.
Bullish evidence: paid executive memberships grew 9.6% to 41.2 million, digitally enabled comparable sales rose 21.5%, and site and app traffic increased 37%. A brand losing the internet does not produce those numbers.
Bearish evidence: digital sign-ups renew at a lower rate than warehouse sign-ups. The new member is easier to acquire and harder to keep, which is the pattern you would expect if the brand’s cultural gravity were weakening at the margins.
Cramer’s fear is reasonable. The data does not yet confirm it.
Where the Value Has Moved, and What Ends the Trade Jim Cramer said, “I’m just wondering whether the great value isn’t in these dollar stores.” CNBC reported strong results from both Dollar Tree and Dollar General.
Dollar Tree posted comparable sales up 3.7% with gross margin expanding 850 basis points to 42.9%. Dollar General reported 3.5% same-store sales growth in its fifth consecutive quarter of traffic growth, and CEO Todd Vasos cited strong trade-in across middle- and high-income cohorts.
The economics are simple. When budgets tighten, the fixed-cost base of a small-box discount format levers hard against small increases in traffic, and a $1 price point does disproportionate merchandising work for a shopper counting pennies.
Dollar Tree at 16 times earnings and Dollar General at 17 times are priced as if the trade-down ends tomorrow, which it likely will not, unless real wages accelerate meaningfully at the low end.
The trade-down winners look like a cyclical opportunity that investors would size to their own risk tolerance. What ends the trade is a genuine improvement in purchasing power at the bottom two income quintiles. Until that shows up in the data, Five Below and the dollar stores are where the incremental household dollar is going.
Contact [email protected] for any questions or corrections.
Key Takeaways Bristol Myers Squibb's Camzyos showed durable reductions in LVOT obstruction at five years.Camzyos sales surged 74% year over year to $729 million in the first half of 2026.BMY could expand Camzyos to adolescents, with an FDA decision targeted for Sept. 30, 2026. Bristol Myers Squibb’s (BMY - Free Report) latest Camzyos (mavacamten) data strengthen the investment case for the drug as a durable growth driver in cardiovascular care.
The company recently presented positive results from the EXPLORER-LTE cohort of the MAVA-LTE study on Camzyos in a late-breaker presentation at the European Society of Cardiology (“ESC”) Congress 2026.
The drug is currently approved in the United States for adults with symptomatic New York Heart Association (“NYHA”) class II-III obstructive hypertrophic cardiomyopathy (oHCM) to improve symptoms and functional capacity.
Five-year results from the EXPLORER-LTE cohort showed that Camzyos continued to deliver meaningful reductions in left ventricular outflow tract (LVOT) obstruction and improvements in symptoms and functional status in patients with symptomatic oHCM.
EXPLORER-LTE is a single-arm, open-label, dose-blinded extension of the phase III EXPLORER-HCM study evaluating the long-term safety and efficacy of Camzyos.
At 252 weeks, Camzyos reduced resting and Valsalva left ventricular outflow tract (LVOT) gradients by 38.7 mm Hg and 55.6 mm Hg, respectively. Nearly 97.4% of patients achieved a Valsalva LVOT gradient of ≤30 mm Hg, while 69.6% improved by at least one NYHA class and 59.2% became asymptomatic. No new safety signals emerged.
The real-world data presented at ESC 2026 further reinforce Camzyos’ effectiveness and safety, suggesting that the benefits observed in clinical trials are translating into routine clinical practice.
With approval in more than 60 countries, Camzyos has established a strong competitive position in the cardiac myosin inhibitor market.
The five-year durability and growing real-world evidence are encouraging for sustained demand and continued revenue contributions from Camzyos, helping BMY diversify beyond its legacy products.
Sales of Camzyos surged 74% year over year to $729 million in the first half of 2026, underscoring the drug’s growing contribution to Bristol Myers Squibb’s cardiovascular franchise and its potential to remain an important growth driver for the company.
Adding to the growth opportunity, the FDA accepted BMY’s supplemental new drug application in June 2026 seeking approval of Camzyos for adolescents aged 12 to under 18 years with symptomatic oHCM. The agency granted Priority Review, with a target action date of Sept. 30, 2026, creating a near-term regulatory catalyst for investors.
The sNDA is supported by data from the late-stage SCOUT-HCM study. If approved, Camzyos would become the first cardiac myosin inhibitor available for adolescents with oHCM, giving BMY an opportunity to expand the drug’s addressable patient population beyond adults.
The growing pipeline of next-generation cardiovascular therapies highlights the need for Camzyos to maintain strong efficacy, safety, market penetration and long-term patient retention as competition intensifies.
BMY’s cardiovascular portfolio also includes blood thinner medicine Eliquis, for which BMY has a worldwide co-development and co-commercialization agreement with pharma giant Pfizer. Eliquis remains one of the biggest contributors to the company’s top line.
BMY’s cardiovascular pipeline includes milvexian, an investigational oral, highly selective factor XIa inhibitor.
Competition for BMY’s CamzyosCytokinetics (CYTK - Free Report) became a direct competitor to Bristol Myers Squibb in oHCM market after securing FDA approval for Myqorzo (aficamten) in December 2025. As Cytokinetics’ first approved product, Myqorzo marks its transition to a commercial-stage company and gives investors a new challenger in the cardiac myosin inhibitor market.
While Camzyos benefits from an established commercial presence and extensive clinical and real-world data, Myqorzo’s initial uptake has been encouraging and could gradually increase competitive pressure on BMY’s cardiovascular franchise.
CYTK is also looking to expand Myqorzo’s label. Cytokinetics plans to submit a sNDA seeking approval of aficamten in symptomatic non-obstructive hypertrophic cardiomyopathy in the fourth quarter of 2026. A potential approval in nHCM will expand the addressable market.
A potential competitor is Edgewise Therapeutics, Inc. (EWTX - Free Report) , which is advancing a cardiovascular pipeline targeting HCM, heart failure, and other cardiovascular and cardiometabolic conditions.
EWTX’s lead candidate, EDG-7500, is a novel, oral, selective cardiac sarcomere modulator currently being studied in a multi-part phase II study in patients with oHCM and nHCM, with a phase III program targeted to be launched in the fourth quarter of 2026.
EWTX’s pipeline also includes EDG-15400 for heart failure. The company expects to initiate a phase II study on EDG-15400 in participants with heart failure with preserved ejection fraction in the second half of 2026.
BMY’s Price Performance, Valuation & EstimatesShares of Bristol Myers have gained 20.3% year to date compared with the industry’s 12.2% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, BMY trades at a discount to the large-cap pharma industry. Going by the price/earnings ratio, its shares currently trade at 10.35X forward earnings, higher than its mean of 8.67X but lower than the large-cap pharma industry’s 18.95X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 EPS has moved north to $6.86 from $6.32 over the past 30 days, while that for 2027 EPS has inched up to $6.44 from $6.09 in the same time frame.
Freeport-McMoRan po průrazu 75 USD rychle oslabil, ale Kevin Simpson dokupuje pokles. Uvedl, že jeho tezi zlomí jen zvýšení sazeb v září, říjnu a prosinci.
Jim Cramer mapped a copper rally to $100, then the breakout level collapsed within days. Now one portfolio manager is loading up on the dip and has already named the single event that would force him to abandon the entire…
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On the August 31 Mad Money “Off the Charts” segment with Bob Lang, Jim Cramer laid out a copper roadmap. Working the technicals on Freeport-McMoRan (NYSE:FCX | FCX Price Prediction), Cramer said “if 75 and change can break out, it goes to $80. That would be terrific. It’s smooth sailing then to “if 75 and change can break out, it goes to $80. That would be terrific. It’s smooth sailing then to $100.”00.” He added that the volume behind the copper miners meant “this rally is the real deal.”
The breakout level failed almost immediately. FCX closed at $75.74 on August 31, the exact level Cramer flagged, then slid 4.2% to $72.56 by September 3. Over the past week the stock is down 6.66% to $73.20. The one-year chart still shows a 59.91% gain, so this is a pullback inside a powerful uptrend.
Kevin Simpson Buys the Drop and Names His Kill Switch Kevin Simpson of Capital Wealth Planning added to both Freeport-McMoRan and Agnico Eagle Mines (NYSE:AEM) into the pullback on CNBC’s Halftime Report, extending a hard commodities theme he started the prior week with CF Industries (NYSE:CF). His reasoning for favoring copper over gold: “you’ve got an application for them with respect to electrification. If you believe in the data center build out.” That buildout runs on more than chips: we rounded up seven of the power, cooling, and infrastructure suppliers behind it in a free report on the AI infrastructure trade.
Simpson publicly named his macro kill switch: “If we get a rate hike in September, October, December, then forget the gold trade. I mean I’m completely off base with this,” he said. That is a rare admission of a specific condition that would invalidate the trade.
Copper Bull Case Freeport Is Selling Freeport’s numbers explain why Cramer and Simpson are aligned. In Q1 2026, FCX reported adjusted EPS of $0.57 versus $0.47 expected on revenue of $6.23 billion, up 12.2% year over year, with a realized copper price of $5.78 per pound versus $4.44 a year earlier. It was FCX’s fourth consecutive EPS beat.
On the Q2 conference call, CEO Kathleen Quirk said “as we look forward, it is clear the market will require additional copper supplies to meet growing demand.” Freeport modeled 2027-2028 EBITDA at roughly roughly $13 billion at $5 copper and $20 billion at $7 copper3 billion at $5 copper and $20 billion at $7 copper, with each 10-cent move in copper worth about $390 million in annual EBITDA. Details are in the company’s Q1 2026 8-K filing.
The macro tailwinds are real. The USGS added copper to the Critical Minerals list in November 2025, and S&P Global projects copper demand reaching 42 million metric tons by 2040, a 50% increase driven by electrification, AI data centers, and defense. Sell-side analysts carry an average price target of $72.05 on FCX, which the stock has already exceeded.
Gold and Fertilizer Legs of Simpson’s Trade Agnico Eagle is a pure gold play. Q2 2026 delivered adjusted EPS of $3.07 on revenue of $3.80 billion, up 35% year over year, with realized gold at $4,483 per ounce, close to today’s spot price near $4,418. AEM is still up 36.23% over the past month at $204.71 even after this week’s 4.76% pullback.
CF Industries has gained 9.56% since August 28 and is up 76.88% year to date.
What to Watch Next The trade hinges on two factors. First, the Grasberg ramp. Freeport targets roughly 65% of capacity in H2 2026, 80% by mid-2027, and near full capacity by end of 2027. Second, the Fed. Simpson has told the market exactly which outcome breaks his thesis. If copper holds the $5.78 realized level and rate cuts stay on the table, Cramer’s path to $100 stays alive. If not, the $75 breakout that failed on August 31 becomes a warning shot for the broader thesis.
Contact [email protected] for any questions or corrections.
DIA price oracles podporují stablecoiny Twin Finance a úvěrové trhy DAMM Capital na Morpho, kde se latinskoamerické měny oceňují podle skutečných směnných kurzů.
Twin Finance and DAMM Capital Bring Latin American Currencies Onchain with DIA Price OraclesDIA price oracles power Twin Finance’s LATAM stablecoins and DAMM Capital’s Morpho lending markets, priced at real executable exchange rates.
In Argentina, a peso’s value depends on where you trade it: the rate at the bank, and the rate at the door of a cueva. Under capital controls the two have pulled tens of percent apart. Bolivia fixes its boliviano against the dollar, but the rate at which anyone can actually get dollars runs through Binance P2P and the local market.
When a currency is used as collateral onchain, the system has to choose which of those numbers is real, and it has to choose the one a borrower can actually transact at. That is the problem DIA, Twin Finance, and DAMM Capital are building against.
Twin Finance issues fully backed local-currency stablecoins for Latin America: ARGt for the Argentine peso, BRAt for the Brazilian real, BOLt for the boliviano, and MEXt, COLt, PERt, and CHLt for the Mexican, Colombian, Peruvian, and Chilean currencies. DAMM Capital, the Buenos Aires onchain asset manager, curates lending markets on Morpho that lend against those tokens. DIA provides the price oracles underneath.
According to Chainalysis, Latin America recorded roughly $1.5 trillion in crypto volume between July 2022 and June 2025, and stablecoins dominate its fiat pairs: more than half of on-exchange buying in COP, ARS and BRL goes into stablecoins, and stablecoin-related flows run above 60 percent of Argentina’s crypto volume. People in the region use stablecoins to hold dollars against inflation and capital controls.
The DIA team gives us the flexibility, robustness, and speed we need to iterate and build institutional-grade, resilient oracle infrastructure that reflects the real economics of emerging markets.
Juan Samitier
Co-Founder of DAMM Capital
ARGt is the only token with meaningful circulation in the set, and the rest held supplies below $100,000 as of August 2026. Onchain order books for these pairs are thin. A feed built on a thin pool turns a handful of orders into a price, and one stale or manipulated print can trigger a wrongful liquidation.
The feed has to be built from where the currency is actually exchanged, then checked against outside references within a tight bound. DIA builds these pairs from venues such as Belo, a licensed Buenos Aires wallet and exchange whose buy-sell spread is a genuine executable two-sided market, and validates them against guardians, independent cross-checks against references such as Binance and Coinbase.
When the sources disagree beyond the agreed threshold, DIA’s feed holds its last good value, so a broken price never reaches a liquidation.
Morpho markets are isolated, so each LATAM currency carries its own risk profile, and DAMM’s vault allocates across them. DIA price oracles power those markets. DAMM plays the Curator and Allocator role: it sets the markets, the caps, and how capital moves.
Under that structure, collateral value, borrow limits, and liquidations all resolve against one feed. A feed that is fresh but priced at an unexecutable reference rate is undercapitalized risk: the position looks healthier than it is, and the liquidation that eventually fires is already underwater. The guardian design exists to stop that specific failure, by refusing to propagate a price the independent checks do not corroborate.
The next step, the one this collaboration is about, is putting Latin America’s stablecoin flows to work as lending collateral.
Super Micro Computer vykázala ve fiskálním roce 2026 výnosy 39,1 miliardy USD, ale hrubá marže klesla na 10,8 % z 11,1 %. Firma zároveň čeká výnosy 65 až 72 miliard USD ve fiskálním roce 2027.
Revenue jumped 78% to $39.1 billion last year, but investors are still waiting for more consistent margins. Summary
Supermicro expects $65 billion to $72 billion in fiscal 2027 sales
Super Micro Computer Inc. (SMCI, Financials) is not lacking demand. The AI server division recorded $39.1 billion in sales in fiscal 2026, up from $22 billion a year earlier, and set a record backlog at the start of the next fiscal year after securing more than $60 billion in new orders.
Now the tough part: translating all that growth into more consistent earnings. Supermicro's full year gross margin was marginally lower at 10.8% versus 11.1%, a small decline that is more significant when sales is growing this quickly.
The latest quarter was, nevertheless, rather encouraging. Fourth quarter revenue was more than $11.1 billion and adjusted earnings of $1.70 per share. Gross margin increased to 17.5%
It gives investors something to look at. Supermicro is forecasting revenues between $65 billion and $72 billion in fiscal 2027. At that size, even a small margin rise can result into a big profit increase.
But the opposite is true Aggressive pricing and client mix will continue to squeeze profitability, which is less of an issue if AI-server growth is high. And that's why the stock is a different bet than simply holding greater demand for AI infrastructure.
Supermicro has proven that it can sell the servers. The next hurdle is to prove it can make more money from each one. Its next catalyst will be its fiscal first quarter earnings when investors will evaluate whether the fourth quarter margin rebound was the beginning of a pattern or merely a strong quarter.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Aurora Innovation uzavřela s McLane Company komerční dohodu na plně bez řidiče provozovanou nákladní přepravu na trase Dallas–Houston. Pilot zahrnoval přes 280 000 autonomních mil a 1 400 zásilek se 100% včasným doručením.
Aurora Innovation has signed a commercial agreement with McLane Company, a Berkshire Hathaway subsidiary, to launch fully driverless trucking operations on the Dallas-Houston corridor in Texas. The deal, announced on May 6, 2026, transitions what was previously a supervised pilot program into unsupervised commercial hauling, a distinction that matters enormously in the autonomous vehicle world.
The pilot phase wasn’t exactly a warm-up lap. Aurora logged over 280,000 autonomous miles and completed 1,400 loads for McLane, all with a 100% on-time delivery rate.
How the partnership actually works The operational model is a hybrid approach that splits the work between machine and human. Aurora’s self-driving technology handles the long-haul interstate segments between Dallas and Houston, roughly 240 miles of highway driving. McLane’s own drivers then take over for last-mile deliveries, navigating the trickier urban streets and loading docks that still challenge autonomous systems.
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McLane operates one of the largest distribution networks in the US, serving convenience stores, restaurants, and mass merchants.
Aurora’s growth targets and revenue outlook Aurora isn’t treating this as a one-route curiosity. The company has laid out aggressive expansion plans, targeting additional routes across US Sun Belt distribution-center corridors by the end of 2026.
On the fleet side, Aurora aims to have over 200 driverless trucks in operation by year-end 2026.
The financial projections reflect that ambition. Aurora has guided for $14 to $16 million in revenue for 2026, with an annual run-rate potential reaching $80 million once operations hit full scale.
Looking further out, Aurora is preparing to launch a Driver-as-a-Service model in 2027. Rather than selling trucks or software licenses outright, DaaS would essentially let logistics companies pay per mile or per load for autonomous capability.
What this means for the autonomous trucking race For investors in Aurora, which trades under the ticker AUR, the McLane deal offers commercial traction with a credible counterparty. The 100% on-time delivery rate across 1,400 loads is the kind of operational data that procurement teams at other major shippers will scrutinize when deciding whether to sign their own contracts.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
