Market Signal Briefing

From many perspectives, the next decade should prove very exciting for Lucid Group (LCID +3.63%). The company plans to release several new models in the years to come, and may ultimately pursue a strategy shift that aligns itself more closely with the biggest electric vehicle (EV) stock in the world: Tesla.

Where will Lucid be 10 years from now? Investors should be focused on two primary catalysts.

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1. Expect Lucid to release cheaper electric cars The biggest growth catalyst for EV companies has been the introduction of mass market vehicles. That is, vehicles that are priced low enough for the masses to afford them. Right now, Lucid's existing lineup can cost $100,000 or more depending on options. Put simply, the vast majority of people will never even consider a Lucid model for purchase. That's a big problem considering more than 90% of Tesla's sales now come from just two models: its affordably priced Model 3 and Model Y.

Lucid has teased cheaper models in the past. Last year, the company revealed that several models were in its pipeline that should have starting prices under $50,000. Since then, however, updates have been scarce. The most recent update suggested that production on a cheap SUV model would begin in late 2026 at the company's newly upgraded factory in Saudi Arabia. But Lucid has missed production milestones before. I wouldn't be surprised to see this timeline extend into 2027, especially with Lucid's current financial constraints.

Still, cheaper vehicles are a must for an EV maker hoping to grow long-term. Whether it's this year, next year, or even 2028, expect Lucid to focus more on cheaper vehicle models. Over the next decade, these vehicles should account for most of its vehicle sales, similar to Tesla's current sales breakdown.

Image source: Lucid Group.

2. Lucid may follow Tesla's strategic shift I expect cheaper models to account for most of Lucid's vehicle sales only over the next decade, not necessarily its total sales. That's because the company's leadership has repeatedly told investors that, long-term, it hopes the minority of its sales will come from hardware sales. In time, management wants the company to be mostly focused on software, supplying other EV makers with the software required for advanced capabilities like autonomous driving.

While most of Tesla's sales still come from vehicle sales, CEO Elon Musk also has a greater vision for his company. Robotaxis, artificial intelligence, and other software components will increasingly drive Tesla's sales over the future. Other EV makers like Rivian are attempting the same pivot, and I expect Lucid will attempt a similar strategic shift. Whether Lucid can manage this pivot successfully is another question entirely. Its relative lack of financial firepower is concerning. But over the next decade, investors should expect Lucid to attempt this strategic pivot. Being comfortable with dedicating massive resources to this potential growth driver is a must for all shareholders.

Oil refiners are enjoying cheaper input prices and higher demand for their products.

Oil refining companies are in a very sweet spot right now. The reason is pretty straightforward: The cost of their inputs has fallen and demand for their end products has increased, along with the prices they can charge.

As a result, refining stocks are soaring in 2026.

Stock

Return Year-to-Date
(through Feb. 11)

Valero Energy (VLO +1.66%)

25%

Phillips 66 (PSX +2.14%)

25%

Marathon Petroleum (MPC +2.65%)

28%

Those are pretty incredible returns considering that the broader S&P 500 index is up just 1.6% so far this year.

An oil glut is keeping crude prices contained There's a glut of oil on international markets, sending oil prices lower. In December, there were 1.4 billion barrels of "oil on the water" -- i.e., oil being shipped to a port or stored and waiting for a buyer. That was 24% more than the average for December from 2016-2024.

As a result, Brent crude, the global benchmark for oil from Europe, Africa, and the Middle East, is down about 9% over the past year. West Texas Intermediate, the type of oil extracted from oilfields in the U.S., is down almost 11% over that period.

Just as these refiners are enjoying cheaper crude oil -- which is their major input -- demand for refined fuels like gasoline, diesel, and jet fuel is outpacing refining capacity.

Image source: Getty Images.

As a result, the so-called 3-2-1 crack spread, which measures the difference between the purchase price of crude oil and the selling price of finished products (and thus indicates the profit margins for refiners), was up about 45% in the fourth quarter from a year earlier.

And the impact is already showing up in those three refiners' financial results. Marathon's margin was $18.65 a barrel in the fourth quarter, about 50% above its margin from a year earlier.

Phillips 66's margin more than doubled, to $12.48 per barrel, in the fourth quarter. And Valero's margin climbed 61% in the quarter from a year ago.

Can the trend continue?

Crude prices are forecast to decline further this year It looks likely that crude prices will continue to fall. The U.S. Energy Information Administration (EIA) forecasts that Brent crude will average $58 a barrel in 2026, down from the average of $69 a barrel in 2025. It sees Brent falling further in 2027, to $53 a barrel on average over the year.

Meanwhile, EIA sees the global consumption of liquid fuels growing by 1.2 million barrels per day this year and another 1.3 million barrels per day in 2027. Most of that demand will be driven by increased manufacturing, trucking, and air travel.

So demand (consumption) for refined fuel oils looks to increase in 2026 and 2027, while the price of unrefined crude is expected to continue to fall.

That's very good news for oil refiners and their shareholders. Of course, there are risks to this outlook (there always are). A war in the Middle East or conflict with Russia could send crude prices higher. And a recession would push demand for refined fuels lower.

Barring those scenarios, however, refiner stocks look like they have further upside potential. So a modest investment of, say, $1,000 right now is not a bad idea at all if you have that much to invest.

Lucid and Nio both have new products pushing deliveries higher. Lucid continues to burn major cash, and will likely need to raise capital again.

Amazon has delivered poor performance since 2025 began.

Some artificial intelligence (AI) stocks just haven't had as good a run as others. While the overall AI investment sector has done well, others have been left behind. One that has performed poorly over the past year is Amazon (AMZN 0.39%). While some may hesitate to call Amazon an AI stock, it's one of the most important companies in this sector thanks to Amazon Web Services (AWS).

I think Amazon can bounce back this year and deliver strong returns along the way.

Image source: Getty Images.

Amazon plays a huge role in AI Since 2025, Amazon's stock has declined by around 7%. However, its revenue and earnings are up significantly from that time.

AMZN Revenue (TTM) data by YCharts.

The poor showing of Amazon's stock despite strong growth points to Amazon's valuation declining. That's exactly what has happened, as the market is unwilling to pay the premium that it used to pay to own Amazon's stock.

AMZN PE Ratio (Forward) data by YCharts.

At 26.5 times forward earnings, Amazon is now trading in the range that most big tech stocks do. This pullback was likely warranted, as the 30-plus times forward earnings investors used to have to pay for it were a little much considering the results.

However, I think right now is a reasonable price to pay for the stock, and any future gains will be caused by its underlying business improving.

During the fourth quarter (Q4), Amazon crushed it. Overall sales rose 14% year over year, compared with 12% growth during last year's Q4. Powering that acceleration was AWS, Amazon's cloud computing platform. Cloud computing plays an important role in AI because it gives developers access to the computing power needed to create and run AI models. Without cloud computing, the generative AI landscape would look far different from what it does today.

AWS grew at a 24% pace during Q4, the fastest rate in 13 quarters. That rewinds the clock to 2022, the year before AI really took center stage. This is a big deal for Amazon, as it shows that AWS is starting to become a top option to build AI models on. If it can contain this growth rate throughout 2026, I have no doubt that Amazon's stock will bounce back throughout the year.

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The only holdup I have is its spending. Amazon informed investors that it plans to spend $200 billion on capital expenditures during 2026, with most of that going to data centers. This will eat into Amazon's cash flows, which many investors don't appreciate. However, if the demand for AI computing is there, then building out the computing footprint makes sense. I'm going to give the benefit of the doubt to management, as they probably know more about the situation than the average investor.

I think that Amazon is a great buy today and should bounce back throughout 2026.

These two bond ETFs offer higher-than-normal dividend yields, but investors should be aware of the unique factors of these types of funds.

Both the iShares 5-10 Year Investment Grade Corporate Bond ETF  (IGIB +0.28%) and the Vanguard Total Bond Market ETF (BND +0.29%) are popular choices for investors seeking core U.S. bond exposure, but their portfolios and risk profiles differ. This comparison looks at cost, yield, performance, risk, and underlying holdings to help clarify where each may fit in a diversified portfolio.

Snapshot (cost & size)MetricIGIBBNDIssuerISharesVanguardExpense ratio0.04%0.03%One-year return (as of Feb. 14, 2026)5.55%4.19%Dividend yield4.57%3.83%Beta0.350.27Assets under management (AUM)$18.11 billion$389.22 billionBeta measures price volatility relative to the S&P 500; beta is calculated from five-year weekly returns. The one-year return represents total return over the trailing twelve months.

BND is slightly more affordable with a lower expense ratio, while IGIB offers a higher yield, which may appeal to investors prioritizing income over cost minimization.

Performance & risk comparisonMetricIGIBBNDMax drawdown (five years)-20.61%-17.91%Growth of $1,000 over five years$881$853What's insideFor nearly 20 years, IGIB has focused on investment-grade corporate debt with maturities of 5 to 10 years. Holding 2,979 assets, its largest positions are in bonds issued by top companies such as Goldman Sachs (GS +0.07%) and Bank of America (BAC 0.03%) . It primarily holds A- and BBB-rated bonds, with each class carrying at least 45% weight.

For nearly 20 years, BND has tracked the broad U.S. investment-grade bond market, holding a large basket of 15,000 securities. It is designed for investors seeking balanced exposure across Treasuries, mortgage-backed securities, and investment-grade corporates.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsWhen choosing between these two ETFs, it will come down to volatility preference, as both ETFs have similar one-year returns and have fallen around 12% within the last five years. Corporate bonds are typically more vulnerable to default and volatility than U.S. government bonds.

Even though BND invests in corporate bonds, it’s very limited, and half of its holdings are U.S. government bonds. The Vanguard ETF also has at least 72% of its weight dedicated to AAA-rated bonds, the highest-rated bonds that have nearly zero chance of defaulting.

U.S. government bonds are less risky than corporate bonds but typically offer slower returns. And because BND allocates more weight to higher-rated bonds, that risk can be even safer, since bonds in higher classes have a lower chance of default. IGIB holds less than one percent in AAA-rated bonds.

Regardless of which ETF investors may want to go with, it should be noted that bond-related ETFs are often some of the slowest-growing in terms of price, compared to traditional stock-holding funds. But the high dividend yields can make investing in these types of funds worth it.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

The stock looks cheap if you plan on holding it for many years.

Coupang (CPNG 0.82%), a Seattle-headquartered technology company, has been embroiled in the fallout from a data breach in its main market of South Korea that is hurting its reputation. Investors, nervous about uncertainties facing the business, have decided to sell off Coupang stock amid South Korean government hearings and investigations into the company's security practices.

The stock is down 26% in the past year. While what's going on should not be ignored, investors focused on the long term are being given a gift with this current Coupang stock drawdown.

Here's why buying this stock today could set you up for life.

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Data breach and taking the long view Late last year, Coupang revealed that information from up to roughly 34 million accounts had been exposed in the data leak after first saying the incident had been much smaller. The South Korean government launched an inquiry, and Reuters reported that in mid-December Coupang CEO and Chairman Bom Kim skipped a parliamentary hearing on the data breach. Reuters reported this week that South Korean officials blame "management failure, rather than a sophisticated cyberattack" for the data leak. 

This has turned into a bigger scandal than it needed to be, with Coupang making things worse.

Again, this is not something investors can just ignore. However, as with most data scandals, it is more likely than not that most Coupang customers will have forgotten about this event a few years down the line. As long-term focused investors, this is what we care about.

At the same time, Coupang's business in South Korea continues to perform admirably. Net revenue grew 20% year-over-year in constant currency last quarter, along with 10% growth in active customers and positive free cash flow. Its e-commerce platform with a vertically integrated delivery network, similar to Amazon's, continues to delight customers with rapid delivery times and a wide product selection. Most customers will care more about this convenience compared to their information potentially being leaked.

Image source: Getty Images.

Why Coupang stock could set you up for life After experiencing this drawdown, Coupang now trades at a market cap of $32 billion. It has revenue of $33.66 billion, and management believes it can eventually grow to an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of 10% or more.

If revenue keeps growing in the double digits, the company can eventually reach $40 billion in annual revenue and maybe even $50 billion within a few years, especially given the potential of its new venture in Taiwan. A 10% profit margin on $50 billion in revenue is $5 billion in earnings.

Using a market cap of $32 billion, that is a price-to-earnings ratio of just 6.4. For a business with a wide moat, strong growth characteristics, and a healthy balance sheet, now looks like a great time to buy Coupang stock, regardless of the ongoing data scandal.

Don't expect the same share price returns of the past three years, but more good times could still be ahead for Nvidia.

The past three years have been phenomenal for Nvidia (NVDA 2.21%) shareholders. The company's stock gained 791% as tech giants invested hundreds of billions of dollars in building data centers for artificial intelligence (AI) computing, driving surging processor sales for the company.

But how will Nvidia fare over the next three years? Let's just say there's probably little for Nvidia shareholders to worry about.

Image source: Getty Images.

1. Data center investments will fuel Nvidia's growth Spending on processors and data centers will eventually slow down, but the latest announcements from leading tech companies show we haven't reached that point yet. Alphabet's management said recently that the company will double capital expenditure (capex) spending this year, reaching up to $185 billion, to keep pace in AI.

And Alphabet isn't the only one. Meta Platforms said it will nearly double its capex spending this year to $135 billion, mostly to build AI data centers, and Amazon has said it will spend $200 billion this year.

These are just three of the largest U.S. tech companies, and combined, they could spend nearly half a trillion dollars this year on capital expenditures, mostly on AI. Nvidia, of course, has been one of the biggest recipients of AI spending because it holds a dominant 81% market share in data center processors.

This spending spree could fuel sales and earnings for Nvidia over the next year and beyond as the company works to fill processor orders. And analysts have taken notice. The consensus estimate for Nvidia's annual revenue in 2029 is $468 billion, and its earnings $246 billion -- an increase for both of more than 3 times from fiscal year 2025.

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2. The stock could be a little volatile, but more gains are likely I don't think Nvidia's stock will repeat the phenomenal gains it's made over the past three years, and there could be volatility, as some investors are getting jittery about a potential AI bubble and shifting away from tech stocks and toward safer havens.

This means Nvidia shareholders should probably temper their expectations, especially since tech and AI stocks have pulled back lately.

But in general, with spending on AI data center infrastructure still increasing and Nvidia still holding a commanding lead in AI processors, there's a good chance the share price can outpace the S&P 500 over the next three years.

Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy.

HomeDividends AnalysisDividend Quick Picks

SummaryWalmart Inc. is expected to announce its 53rd consecutive annual dividend increase in late February, with a predicted boost of 6.4–9.6%.Recent years saw WMT accelerate dividend growth, but with EPS growth slowing to ~4% in FY26, dividend growth should moderate to high single digits.Dividend growth across other long-term payers is generally moderating, with notable double-digit increases expected from Eaton and Steel Dynamics.Dividend Kings Genuine Parts and Coca-Cola are also set to announce their next annual increases, extending their multi-decade growth streaks. Alexander Farnsworth/iStock Editorial via Getty Images

This is the latest in my series of articles where I provide predictions of annual dividend increases for long-term dividend growth companies. At the end of January, I provided predictions for 19 dividend growth companies

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

I may take a position in any of the stocks mentioned in this article in the near future.

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

Globalstar has appreciated 104% since my initial Strong Buy; I now rate it a Buy for the medium term but remain long-term bullish. Recent milestones include warehouse automation, a Skydio drone partnership, and Boingo Wireless integration, all validating XCOM RAN's commercial traction. GSAT's IoT hardware sales surged 60% YoY in Q3 2025, signaling accelerating future high-margin subscription revenues.

HomeETFs and Funds AnalysisETF Analysis

SummaryWisdomTree US Total Dividend Fund ETF remains a buy, supported by strong fundamentals and technical momentum.DTD has outperformed the S&P 500 YTD, benefiting from rotation into value and dividend-paying stocks.The ETF offers diversified large-cap value exposure, a 1.88% yield, and trades at 18x earnings—well below the S&P 500 multiple.Technical indicators confirm a bullish uptrend, with support at $85 and potential upside toward $94. PM Images/DigitalVision via Getty Images

Rotation and diversification have been the market’s passwords in recent months. So far in 2026, yield plays and value stocks have outperformed the precisely flat S&P 500 (YTD through Valentine’s Day). One fund that has benefited from money

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

HomeStock IdeasLong IdeasFinancials 

SummaryNoah Holdings Limited (NOAH) is executing a strategic shift from China-focused, fixed-yield products to global investment solutions, reducing reliance on domestic real estate and shadow banking.NOAH trades at a deep value discount (P/E ~8x, P/B ~0.6x), supported by a strong balance sheet, significant cash, and robust capital return via dividends and share buybacks.International operations now generate nearly half of net revenue, with global booking centers and new brands targeting Chinese high-net-worth clients worldwide.Despite a 7.4% Q3 revenue decline, net profit surged 58.9% due to cost control; if re-rated to sector P/E averages, shares could see 30-50% upside. imaginima/iStock via Getty Images

My thesis Noah Holdings Limited (NOAH), as of the start of 2026, presents itself as an asset management company that very successfully transformed its business model, managing to lower its dependency on China‘s real estate sector

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

These two ETFs offer exposure to fixed-income assets, but investors can choose from a range of bond sectors.

Both the VanEck Short Muni ETF (SMB +0.09%) and iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB +0.15%) are designed for investors seeking relatively low-duration bond exposure, but their approaches diverge. SMB tracks short-term tax-exempt municipal bonds, while IGSB tracks investment-grade U.S. corporate bonds.

Snapshot (cost & size)MetricSMBIGSBIssuerVanEckISharesExpense ratio0.07%0.04%1-yr return (as of Feb. 14, 2026)1.93%2.65%Dividend yield2.64%4.44%Beta0.100.13AUM$303.14 million$22.37 billionThe 1-yr return represents total return over the trailing 12 months.

IGSB’s lower expense ratio is minimal, but its dividend yield is substantially higher than SMB’s, having nearly double the amount. 

Performance & risk comparisonMetricSMBIGSBMax drawdown (5 y)-7.44%-9.44%Growth of $1,000 over 5 years$958$960What's insideIGSB holds 4,532 bonds, focusing on investment-grade corporate debt with maturities of 1 to 5 years. The fund is nearly two decades old, and its largest positions are in bonds issued by top companies such as Goldman Sachs (GS +0.07%) and Bank of America (BAC +0.06%) . It primarily holds A- and BBB-rated bonds, with each class carrying at least 40% weight.

About two years younger than IGSB, SMB has fewer assets and a more concentrated portfolio, holding 334 municipal bonds. A majority of the ETF’s bonds are in the AA class, while 22% of its holdings are A-rated, and another 17% are rated AAA.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsWhen choosing between these two ETFs, it will come down to volatility preference, as both ETFs have similar one-year returns and have fallen around 4% within the last five years. Corporate bonds are typically more vulnerable to default and volatility than municipal bonds. But because of that increased risk, corporate bonds often offer higher yields and greater price return potential.

Municipal bonds are less risky than corporate bonds but typically offer slower returns. And because SMB has more weight allocation towards higher-rated bonds, that risk can be even safer, because bonds in higher classes have a smaller chance of default. IGSB holds zero AAA-rated bonds.

Regardless of which ETF investors may want to go with, it should be noted that bond-related ETFs are often some of the slowest-growing in terms of price, compared to traditional stock-holding funds. But the high dividend yields can make investing in these types of funds worth it.

Bank of America is an advertising partner of Motley Fool Money. Adé Hennis has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool has a disclosure policy.

By Reuters

February 15, 20265:21 AM UTCUpdated 11 mins ago

Uber logo is seen in this illustration taken August 5, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab

Feb 15 (Reuters) - Uber (UBER.N), opens new tab is expanding its delivery business into seven new European countries this year as tech groups ramp up their efforts in the multibillion-euro food-delivery market, the Financial Times reported on Sunday.

Learn about the latest breakthroughs in AI and tech with the Reuters Artificial Intelligencer newsletter. Sign up here.

Reporting by Shivani Tanna in Bengaluru; Editing by William Mallard

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Journalist

Posted: February 15, 2026

As the broader market begins to recover, ChainOpera (COAI) is grabbing the attention of crypto enthusiasts. Not only because of its massive 39% price uptick, but also because the rally appears to be opening the door for further upside.

After hiking by over 39% in just 24 hours, the altcoin’s price hit the $0.445 level. At the same time, a significant surge in market participation was recorded, with the same evidenced by the 340% spike in trading volume to $36.64 million. Such a sharp increase in volume could be a sign of heightened interest from traders and investors .

Previously, COAI had fallen by more than 95% on the charts. Following its most recent gains, it remains to be seen whether the crypto will continue its upside or face a period of correction.

ChainOpera (COAI) price action eyes 45% rally On the daily chart, COAI’s price had hit the key resistance level of $0.45 at press time – A level it had been struggling to break since December 2025. In the past, the altcoin has attempted to breach this level more than four times. However, each time the price reached it, a reversal followed soon after. 

Source: TradingView

If COAI breaks out and closes a daily candle above the key resistance level of $0.45, it could see an impressive 45% price jump and potentially reach the $0.685-level in the coming days. However, a daily close below $0.3880 could invalidate this bullish outlook.

At press time, the Average Directional Index (ADX), an indicator that measures trend strength, had reached 33.66 – Well above the key threshold of 25, signaling a strong directional trend in the asset.

Meanwhile, the Relative Strength Index (RSI) stood at 70.87, indicating that the asset was approaching the overbought zone and flashing strong bullish momentum.

Investors and traders show mixed sentiment Additionally, derivatives data platform Coinglass and on-chain analytics firm Nansen hinted at mixed sentiment among investors and traders, with some engaging in profit-taking while others continuing to follow the trend.

Nansen’s latest data revealed that over the last 24 hours, COAI reserves across exchanges (both CEXs and DEXs) increased by 1.94%. Such a hike in exchange reserves alluded to potential selling pressure, something that could lead to a short-term pullback in the crypto’s price.

Source: Nansen

Meanwhile, traders appear to be aligning with the ongoing momentum too.

Data revealed strong betting activity around the $0.385-level on the downside (support) and $0.465 on the upside (resistance). At these levels, traders built approximately $780,000 in long leveraged positions and about $272,000 in short leveraged positions, reflecting a bullish short-term outlook.

Source: Coinglass

Final Summary COAI’s price reached a make-or-break level and breaching it could help altcoin rally by another 45%. Both investors and traders exhibited mixed sentiment, with COAI reserves on exchanges climbing by 1.94% too. 

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Shiba Inu has completed a golden cross pattern on its hourly chart, a confirmation of its short-term positive momentum.

The 50 MA has risen above the 200 MA on the hourly chart, indicating a golden cross. This comes as the Shiba Inu price rose 6% as the market saw its strongest weekend price action in over 20 weeks.

SHIB/USD Hourly Chart, Image By: TradingViewAt press time, SHIB was up 6.56% in the last 24 hours to $0.0000065 and up 7% weekly. The price rebound follows the broader crypto market recovery as a lower-than-expected CPI reading helped boost the outlook for Federal Reserve interest rate cuts on the markets.

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Traders on prediction market Kalshi are considering a 26% chance of a quarter rate cut in April, up from an earlier 19%, while on Polymarket, the odds rose from 13% to 20%.

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The consumer price index for January rose 2.4% from the same time a year ago, down 0.3 percentage points from the prior month and the lowest since May 2025. This gave the markets a reason to believe that interest rate cuts could arrive sooner than expected, lifting both stocks and cryptocurrencies higher.

What comes next?Shiba Inu reversed a five-day drop that reached a low of $0.00000575 on Feb. 11. The SHIB price began to rise on Feb. 12 and will mark its third day of gains if today closes in profit.

Despite the rebound, the broader setup still remains that of sideways trading or consolidation as the market attempts to regain its footing after a prolonged sell-off since the October crash.

Shiba Inu continues to trade in a range between $0.000005 and $0.000007 since the start of February.

Despite the market's rebound, the Crypto Fear & Greed Index is still flashing "extreme fear," currently sitting at 11. This indicates that traders are proceeding with caution.

The price targets for SHIB are currently pegged at $0.000007 and $0.0000076. A support level is expected to materialize near the $0.000005 threshold.

Binance has fully integrated Ripple USD (RLUSD) on the XRP Ledger, unlocking deposits and expanding access across Earn, Convert, Margin, and VIP Loan products, deepening stablecoin utility and accelerating RLUSD's reach across global crypto markets.

Alphabet and TSMC have robust competitive moats.

If you've got $1,000 that you're looking to invest in the current market, I'd recommend sticking with companies that are market leaders. Two such growth stocks that I see as good buys today are Alphabet (GOOGL 1.06%) (GOOG 1.10%) and Taiwan Semiconductor Manufacturing (TSM 0.51%).  

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Alphabet continues to dominate online search, where its Google unit holds a market share of around 90%. It has created a wide moat around its search business by owning two of the most common ways people access the internet: the Chrome browser and the Android mobile operating system, where Google is the default search engine. Both command market shares of about 70% in their respective spaces. Meanwhile, Alphabet has a search revenue-sharing deal with Apple that makes Google the default search engine on its devices, helping it capture much of the rest of the market.

While artificial intelligence (AI) chatbots like OpenAI's ChatGPT have brought a new form of competition to Google Search, this competition has actually brought out the best in Alphabet. The company has developed one of the best foundational AI models, Gemini, which it trained using its custom Tensor Processing Unit (TPU) chips. By using its own chips, which cost significantly less than Nvidia's graphics processing units (GPUs), the company has gained a structural cost advantage over competitors in the AI sector. Meanwhile, the new AI features that it has embedded into Google search have been helping to accelerate that unit's growth.

At the same time, Alphabet's cloud computing business has been red-hot, with revenue growth climbing 48% year over year last quarter. The company's TPUs also give it a cost edge here, and Alphabet is set to ramp up its spending on AI infrastructure this year to push its advantage. As the company with the most complete AI stack, Alphabet is one of the best AI stocks to own over the long haul.

Image source: Getty Images.

Taiwan Semiconductor Manufacturing

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Taiwan Semiconductor Manufacturing is the largest chip foundry in the world, and it has a near monopoly on manufacturing the most advanced chips. Making advanced chips with few defects requires a lot of technical expertise, and TSMC has proven to be the only company able to achieve high yields at scale.

This has made the company an invaluable part of the semiconductor value chain and an important partner to the world's leading chip designers. It has also given it strong pricing power, which has helped push up its gross margins.

With the AI infrastructure market booming, TSMC is ramping up its spending to build out more fabs in order to increase production capacity in a bid to meet surging chip demand. Between its increasing capacity and increasing prices, TSMC is a stock to own for the long term.

Geoffrey Seiler has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Apple, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.

SUNNY ISLES BEACH, FLORIDA / ACCESS Newswire / February 14, 2026 / Elektros Inc. today conveys a Valentine's message to its shareholders, prospective investors, and the broader investment community, underscoring the enduring importance of trust, connection, and shared purpose.

On this Valentine's holiday, Elektros encourages its shareholders, future shareholders, followers, and those considering joining its journey to pause and reflect on the most powerful and universal words one can share:

"I love you."

These words, simple yet profound, transcend generations, cultures, and circumstances. Spoken to a wife or husband, family members, parents, siblings, loved ones, friends, neighbors, and those closest to one's heart, they carry meaning, reassurance, and lasting impact. Elektros believes that genuine connection and respect form the foundation of strong relationships - in life, in communities, and in long-term investment partnerships.

At Elektros, love is universal. The company expresses its sincere appreciation for each and every shareholder and for those who believe in its long-term vision.

"As Chief Executive Officer of Elektros, I encourage everyone - shareholders, future shareholders, and members of our global community - to share the most powerful words we know: ‘I love you.' These words are universal. They connect us, strengthen us, and remind us of what truly matters. We are grateful for each and every one of our shareholders, and we thank you for believing in us."
- Shlomo Bleier, Chief Executive Officer, Elektros Inc.

The confidence placed in Elektros by its investors is both valued and deeply respected, and it serves as a continual source of motivation as the company builds for the future.

Elektros extends its best wishes to all for a wonderful Valentine's holiday weekend filled with joy, reflection, and meaningful connection. The company is grateful for the opportunity to serve a growing global shareholder base and thanks its investors for their belief, trust, and continued support.

Elektros values each and every shareholder and looks forward to continuing this journey together with optimism, discipline, and purpose.

Happy Valentine's Day, and best wishes for a beautiful and memorable weekend.

About Elektros Inc.
Elektros Inc. is dedicated to building long-term shareholder value through innovation, integrity, and disciplined execution. The company is committed to transparent communication and responsible stewardship across all stakeholder relationships.

Website: www.elektros.energy
Email: [email protected]

Cautionary Statement Regarding Forward-Looking Information:
This news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed or implied. Elektros Inc. undertakes no obligation to update or revise forward-looking statements except as required by law.

SOURCE: Elektros, Inc.

iShares MSCI China ETF provides broad exposure to large- and mid-cap Chinese equities, tracking the MSCI China Index for investors.

What happenedAccording to an SEC filing dated February 12, 2026, Nipun Capital, L.P. increased its position in iShares MSCI China ETF (MCHI 0.38%) by 116,100 shares during the fourth quarter. The estimated value of this trade was $7.3 million, calculated using the fund's average closing price for the quarter. The quarter-end value of the position rose by $13.58 million, a figure that reflects both trading activity and market price changes.

What else to knowThe fund bought more MCHI, bringing the stake to 22.96% of 13F assets under management.

Top holdings after this filing:

NYSEMKT:INDA: $90.78 million (41.4% of AUM)NASDAQ:MCHI: $50.31 million (23.0% of AUM)NYSEMKT:FXI: $46.08 million (21.0% of AUM)NYSE:TSM: $22.29 million (10.2% of AUM)NYSEMKT:VWO: $4.96 million (2.3% of AUM)As of February 12, 2026, shares were priced at $60.58, up 19.4% over the past year, outperforming the S&P 500 by 6.52 percentage points. MCHI’s annualized dividend yield was 2.10%.

The position was 23.2% of the fund's AUM as of the prior quarter.

ETF overviewMetricValueAUM$7.94 billionPrice (as of market close 2/12/26)$60.58Dividend yield2.10%1-year total return19.42%ETF snapshotThe iShares MSCI China ETF’s investment strategy seeks to track the MSCI China Index, providing exposure to large- and mid-cap Chinese equities listed as H-shares and B-shares.The portfolio is composed primarily of equity securities representing the top 85% of market capitalization in Chinese equity markets, with sector and issuer weights reflecting index methodology.Structured as a non-diversified ETF, the fund offers a competitive annualized dividend yield and passively managed exposure to China. The expense ratio is 0.59%.The iShares MSCI China ETF (MCHI) offers investors targeted access to the Chinese equity market through a broad, market-cap-weighted portfolio. The fund's strategy emphasizes efficient, liquid exposure to leading Chinese companies, making it a core holding for those seeking to capture China's market performance. Its scale and index-driven approach provide institutional investors with a cost-effective solution for country-specific allocation.

What this transaction means for investorsNipun Capital’s purchase of additional stock in the iShares MSCI China ETF (MCHI) suggests a bullish outlook towards the exchange-traded fund. That said, the buy aligns with Nipun Capital’s focus as a specialized asset management firm targeting emerging markets and Asian equities.

MCHI is best for investors who want to increase exposure to the China market. The ETF’s AUM of nearly $8 billion provides good liquidity, and its beta of one indicates reasonable volatility. It also offers a solid dividend yield over 2% although its 0.59% expense ratio isn’t cheap for a passively-managed fund.

For investors seeking to add international stocks to their portfolio, other ETFs offer broader diversification at lower costs compared to MCHI. Moreover, MCHI’s focus on only the China market means heightened risk, especially given the history of political tensions between the U.S. and Chinese governments. In fact, the Trump administration threatened to delist Chinese stocks.

Therefore, only investors who are willing to accept higher risk for access to the China market should consider investing in MCHI.

Robert Izquierdo has positions in Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Taiwan Semiconductor Manufacturing and Vanguard FTSE Emerging Markets ETF. The Motley Fool has a disclosure policy.

AAAU offers a lower expense ratio and much larger assets under management, but has minimal portfolio diversity. SGDM holds over 43 companies and has delivered an over 2x one-year return compared to AAAU.

Expense, sector mix, and risk set these ETFs apart for investors weighing broad international exposure against emerging market focus.

The Vanguard Total International Stock ETF (VXUS +0.33%) and iShares MSCI Emerging Markets ETF(EEM +0.43%) differ sharply on cost, yield, diversification, and risk, with EEM focusing on emerging markets and VXUS spanning the entire non-U.S. globe.

The Vanguard Total International Stock ETF aims to give investors broad international diversification, tracking stocks from both developed and emerging markets outside the U.S., while the iShares MSCI Emerging Markets ETF targets only large- and mid-cap stocks from emerging economies. This comparison highlights the practical trade-offs between global breadth and emerging market concentration.

Snapshot (cost & size)MetricVXUSEEMIssuerVanguardISharesExpense ratio0.05%0.72%1-yr return (as of 2026-02-04)31.4%36.2%Dividend yield3.0%2.1%AUM$606.2 billion$26.95 billionBeta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months.

VXUS looks far more affordable, charging 0.05% compared to EEM’s 0.72%, and VXUS also offers a higher dividend yield — 3.0% versus 2.1% — which may appeal to cost-conscious or income-focused investors.

Performance & risk comparisonMetricVXUSEEMMax drawdown (5 y)(29.43%)(39.82%)Growth of $1,000 over 5 years$1,277$1,046What's insideEEM focuses on emerging markets, with technology (28%), financial services (22%), and consumer cyclical (12%) as its leading sectors. It holds 1,214 stocks, with Taiwan Semiconductor Manufacturing making up 12.42%, followed by Samsung Electronics Ltd. at 4.85%, and Tencent Holdings Ltd. at 4.21%. The fund is over 22 years old and has no unusual structural quirks.

VXUS, by contrast, covers a broader swath of the international market, including both developed and emerging economies. Its portfolio tilts toward financial services (23%), industrials (16%), and technology (15%), and it is far more diversified with 8,602 holdings. Its largest positions — Taiwan Semiconductor Manufacturing, Tencent Holdings Ltd., and ASML Holding — each make up a smaller slice of the fund, reflecting its wider reach.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsAlthough the Vanguard Total International Stock ETF (VXUS) and the iShares MSCI Emerging Markets ETF (EEM) both target international stocks, they are for very different types of investors.

EEM is for aggressive investors seeking the high growth potential offered by emerging markets, and are willing to pay a larger expense ratio for that exposure. EEM’s higher one-year return compared to VXUS illustrates the ETF’s strength.

However, over the long run, EEM suffered a higher max drawdown, demonstrating the greater risk inherent in emerging markets due to factors such as increased political and currency fluctuations compared to developed markets. Therefore, EEM is better suited for short-term investing.

VXUS is a better choice for investors who want an international ETF to buy and hold for the long term. Its more rounded holdings across both developed and emerging markets contribute to greater stability, and its low expense ratio make it an affordable fund to keep for the long haul. It also offers a more attractive dividend yield for income-minded investors.

Robert Izquierdo has positions in ASML and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends ASML, Taiwan Semiconductor Manufacturing, Tencent, and Vanguard Total International Stock ETF. The Motley Fool has a disclosure policy.

Investors can get these growing businesses at a big discount.

Patiently holding the right growth stocks can lead to significant gains over the long term. Some leading consumer goods brands are trading well off their recent highs, despite continued business momentum. This sets up a good buying opportunity for patient investors.

Here's why Dutch Bros (BROS +5.10%) and On Holding (ONON +2.16%) are on track for long-term growth.

Image source: Getty Images.

Dutch Bros Dutch Bros is expanding its store footprint into a nationwide drive-thru chain. Its range of coffee, smoothies, energy drinks, and sparkling sodas is resonating. The business's long-term growth trajectory makes the stock a promising investment.

The macroeconomic environment has experienced choppy consumer spending behavior over the past few years. Dutch Bros has skated through it, maintaining positive same-store sales. It recently posted its fifth consecutive quarter of transaction growth, and sales could continue to strengthen as the economy improves.

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Dutch Bros has plenty of room to expand. It ended the recent quarter with 1,081 shops open in 24 states, leaving half the U.S. open for more locations. The stock has already returned 55% over the past three years, yet management plans to roughly double its shop base by 2029, which could fuel further gains for investors.

While the stock looks expensive, trading at a high price-to-earnings (P/E) multiple, it's already fallen 36% from its recent highs. The current valuation is reasonable for a business targeting 7,000 shops over the long term. It can indeed open thousands of shops since these drive-thru locations don't require much square footage. Assuming management continues to stay disciplined in profitably expanding, as it has so far, patient investors will be well rewarded.

On Holding On Holding is giving the big footwear brands a run for their money. Its award-winning cushioning technology has driven explosive sales growth in recent years. In the third quarter of 2025, sales grew 35% year over year on a constant-currency basis.

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The best sign of the Switzerland-based brand's long-term opportunity is the momentum in Asia-Pacific, where sales surged 94% year over year last quarter. This region now accounts for approximately 20% of the company's business, making it a meaningful contributor to forward growth.

International growth signals that On Holding has significant growth ahead. It's still seeing new stores break sales records. Its new Ginza (Tokyo) store generated the highest monthly sales across its global store base in October, while a new store in Bangkok earned the highest daily opening sales in the company's history.

Given On's global opportunities, this growth stock is worth buying on dips. The stock's recent 31% drop from its highs has brought its forward P/E down to a more reasonable multiple of 25, making it a compelling buy right now.

The crypto market in 2025 was a paradox, being both the best and worst year, reflecting mixed investor sentiments. A predictable maturity curve is emerging in the crypto market, indicating a shift towards rationality. Cognitive dissonance is prevalent as the market becomes more rational, despite ...

Key takeaways The crypto market in 2025 was a paradox, being both the best and worst year, reflecting mixed investor sentiments. A predictable maturity curve is emerging in the crypto market, indicating a shift towards rationality. Cognitive dissonance is prevalent as the market becomes more rational, despite declining prices. The transition from speculative to fundamental valuation methodologies will continue into 2026. Many good projects in crypto are mispriced, leading to investor confusion. Recent all-time highs of Ethereum and Solana do not signify a meaningful bull market. The lack of new entrants in crypto affects market expectations and sentiment. The crypto market resembles the early 2000s internet boom, characterized by over-optimism and infrastructure build-out. Consolidation will be a key trend in the crypto industry, with survival being a critical strategy. Builders should focus on getting acquired or consolidating within their category. Ethereum’s layer one protocol is expected to capture significant growth by 2026. Advancements in zkEVM technology are ahead of schedule, enhancing Ethereum’s block speeds. The current market environment is focused on building for future growth rather than immediate profits. The convergence of equity markets and crypto will lead to innovations like equity perps by 2026. Investor relations will demand standardized financial disclosures and adopt community-focused strategies. Guest intro Mike Ippolito is a prominent figure in the crypto industry, featured on Bankless. Known for his insightful analysis, Mike offers a nuanced perspective on the evolving landscape of digital assets. His expertise spans market dynamics, valuation methodologies, and the strategic direction of crypto projects. In this episode, Mike delves into the challenges and opportunities facing the crypto market, drawing parallels to historical trends and forecasting future developments.

2025: The best worst year for crypto 2025 was the best worst year ever in my opinion

— Mike Ippolito

The year was marked by mixed market conditions and investor sentiment. Despite disappointments, the year highlighted both positive and negative aspects. The crypto market is starting to follow a predictable maturity curve. I think that it’s finally this is a market that’s starting to follow a very predictable curve around maturity

— Mike Ippolito

Cognitive dissonance is prevalent as the market becomes more rational. A regulated route is emerging… but the price has still gone down

— Mike Ippolito

The market’s rationality contrasts with declining prices, challenging investor psychology. Transitioning valuation methodologies The shift from speculative to fundamental valuation methodologies is ongoing. That is probably going to be a theme that extends into 2026

— GuestName

Many good projects are mispriced, confusing investors. They’ve just been really mispriced and so I think that’s gonna continue to confuse people

— GuestName

Recent all-time highs of Ethereum and Solana are not indicative of a bull market. While technically true it’s not really meaningfully true

— GuestName

The lack of new entrants affects market expectations and sentiment. There is a lack of a class of 2025 crypto… all of the people in crypto are in crypto for three plus years

— GuestName

Parallels to the early 2000s internet boom The current crypto market resembles the early 2000s internet boom. We are in the equivalent of late two thousand one early two thousand two for web two

— GuestName

Over-optimism and infrastructure build-out characterize the market. The next few years will see a trend of consolidation in the industry. Surviving is winning over the next three years

— GuestName

Builders should focus on getting acquired or consolidating within their category. Your strategy as a builder is either to get acquired or to win and consolidate in your category

— GuestName

Ethereum’s future positioning Ethereum’s layer one protocol is expected to be well-positioned for growth by 2026. By the 2026 the ethereum layer one protocol will have positioned itself more appropriately

— GuestName

Advancements in zkEVM technology are ahead of schedule. ZkEVMs… delivered way faster than expected

— GuestName

The current market environment is focused on building for future growth. We’re in a little bit of a post bubble era and now it’s about reorienting ourselves

— GuestName

Opportunities in the current market The current market conditions present significant opportunities for committed builders. We’re finally entering an environment where you can build real sustainable equity value

— GuestName

Historical patterns show that sticking through downturns can lead to significant opportunities. If you can just make it through the grind then you are positioned

— GuestName

By 2026, the industry will validate or invalidate many long-held ideas. We’re gonna see a lot of that decided in 2026

— GuestName

Convergence of equity markets and crypto 2026 will see a convergence of equity markets and crypto. We’re gonna get things like equity perps in 2026

— GuestName

Investor relations will demand standardized disclosures and community-focused strategies. Investor relations will become increasingly important

— GuestName

Launching a publicly traded instrument creates dual responsibilities for founders. You have your product and your business and then you have your instrument

— GuestName

The evolving landscape of investor relations Crypto companies will adopt social media for investor relations. Crypto is going to look to equities to borrow certain principles

— GuestName

Companies like Coinbase and Robinhood are rethinking product announcements. They’re going directly to their audience about what they think they’re excited about

— GuestName

Discussions around GAAP accounting standards will be significant. There’s gonna be a bunch of noise around gaap accounting standards this year

— GuestName

Challenges in accounting standards There needs to be an accepted set of standards for accounting in crypto. There just needs to be an accepted set of standards

— GuestName

Significant changes in GAAP accounting are unlikely due to the overhead involved. The lift is too big on that

— GuestName

Most dual token equity structures are not feasible. In 90% of these cases it’s simply not feasible

— GuestName

Dual equity and token structures A negative stigma may develop around protocols with dual equity and token structures. Potentially a negative stigma develop around protocols that have a dual equity and token structure

— GuestName

The presence of only one instrument may attract potential investors. The fact that there is only one instrument… might be interesting to potential investors

— GuestName

Investors may become less interested in tokens with inaccessible equity components. Investors are in even interested in buying tokens that have equity components that they don’t have access to

— GuestName

Revenue meta discussions Revenue meta discussions will shift towards valuing durability and quality. The revenue meta discussions will evolve towards durability and quality

— Mike Abledo

Not all revenue is created equal, impacting company evaluations. Not all revenue is created equal

— Mike Abledo

Investors will stop giving credit to highly pro-cyclical revenue. Investors are going to stop giving highly pro cyclical revenue credit

— GuestName

The impact of quantum computing Quantum computing poses a future threat to Bitcoin, but not until around 2032. The first year that like a production quantum computer will become relevant… is gonna be around 2032

— GuestName

The Bitcoin community is resistant to discussions about quantum threats. First met with an ample amount of resistance from a lot of the bitcoin core developers

— GuestName

The quantum threat will become a significant topic of discussion by the early 2030s. Quantum isn’t just a crypto issue it is going to impact all of society

— GuestName

Ethereum’s resilience and future Ethereum has emerged victorious despite past mistakes and uncertainty. Ethereum got a lot wrong in the last couple of years but still emerged victorious

— GuestName

Ethereum’s main chain is expected to perform extremely well in the coming years. I am extremely bullish on ethereum over the course of the next couple years

— GuestName

The messaging around building on L1 versus L2 has caused confusion among developers. The messaging has switched around a lot it’s just been a lot of uncertainty and confusion

— GuestName

The rise of real-world assets 2026 will see significant growth in real-world asset looping on blockchains. One thing that’s gonna take off in 2026 is rwa looping

— GuestName

Bringing real-world assets on-chain presents unique challenges. There are a lot of challenges with bringing rwas on chain

— GuestName

2024 will be a phenomenal year for DeFi, driven by real-world asset inflows. It’s gonna be a really good year driven by rwa inflows

— GuestName

The future of vaults and credit funds Vaults will likely grow from $5 billion to around $15 billion in assets by the end of next year. Vaults appreciate a lot but probably don’t go parabolic

— GuestName

The modular infrastructure of Morpho is the right foundation for vaults. The modular infrastructure of morpho that morpho kind of pioneered here was the right infrastructure

— GuestName

The demand for yield from stablecoins moving on-chain is driving the growth of credit funds. A lot of vcs that are struggling will launch credit funds this coming year

— GuestName

Optimizing trading software requires eliminating database lookups and simplifying computations for speed and efficiency. Custom silicon is challenging in high-frequency trading due to rapid algorithm changes. FPGAs balance efficiency and reprogrammability better than custom silicon in trading har...

Key Takeaways Optimizing trading software requires eliminating database lookups and simplifying computations for speed and efficiency. Custom silicon is challenging in high-frequency trading due to rapid algorithm changes. FPGAs balance efficiency and reprogrammability better than custom silicon in trading hardware. The Bitcoin white paper is accessible and elegantly written, appealing to non-technical readers. Concise and elegant writing requires significant intellectual skill. Guerrilla marketing can effectively grow user platforms in the crypto space. Entrepreneurship involves resilience and continuous iteration, not just overnight success. Most successful businesses do not fit the narrative of instant success like Facebook or Google. Binance’s ICO was predominantly supported by Chinese investors. The ICO was critical for Binance’s initial growth, incentivizing users to trade on the platform. Steady active users indicate a system’s health better than revenue or trading volume. The Biden administration’s approach to crypto represents a significant shift beneficial for the industry. Guest intro Changpeng Zhao is the founder of Binance, the world’s largest crypto exchange by trading volume. He sold his Shanghai apartment in 2014 to go all-in on Bitcoin, later building Binance into a $100 billion platform in 2021 before stepping down as CEO following a plea deal with US authorities. After serving time in federal prison, he is pursuing new ventures in the crypto space.

Optimizing trading software for efficiency Optimizing trading software involves eliminating database lookups and simplifying computations to enhance speed and efficiency.

— CZ

The focus is on writing software that is efficient and fast, removing slowness. You want to remove all the database lookups so you wanna do everything in memory.

— CZ

Simplifying risk checks, especially pre-order and pre-trade, is crucial. Understanding the technical aspects of trading software development is important. Speed is a key factor in high-frequency trading. Efficiency in trading software can impact financial markets significantly. Simplifying computations can lead to better performance in trading systems. Challenges with custom silicon in trading Using custom silicon in high-frequency trading is challenging due to the rapid changes in algorithms.

— CZ

Algorithms change too often, making hardware design inefficient. Custom silicon is efficient but slow to change. FPGAs offer a balance between efficiency and reprogrammability. FPGAs offer the best of both worlds, though reprogramming is still slower than software.

— CZ

The technological landscape in trading is complex. Understanding hardware options is crucial for trading systems. The adoption of custom silicon is limited by its inflexibility. The significance of the Bitcoin white paper The Bitcoin white paper is an elegantly written piece that is accessible to non-technical readers.

— CZ

The paper captivated CZ with its clarity and accessibility. It is one of the most elegantly written pieces of non-technical prose. The paper’s accessibility is crucial for broader adoption. Writing concisely and elegantly is a significant challenge. It takes an enormous amount of intellectual skill to write concisely.

— CZ

Effective communication is vital for engaging a wider audience. The Bitcoin white paper’s clarity has educational significance. Guerrilla marketing in the crypto space Guerrilla marketing can be an effective strategy for growing user platforms in the crypto space.

— CZ

Early marketing strategies played a significant role in user growth. Community engagement is crucial in the crypto industry. Blockchain.info was the largest user platform at the time. Blockchain.info had about 2,000,000 wallets, more than Coinbase at the time.

— CZ

Understanding historical trends in the crypto space is important. Guerrilla marketing led to significant user growth. The competitive landscape of crypto platforms has evolved. The reality of entrepreneurship Entrepreneurship is often misunderstood as a series of overnight successes.

— CZ

It involves resilience and continuous iteration. Most people idealize entrepreneurship without understanding the grind. It’s a grind, and you have to go so many different ways.

— CZ

The narrative of instant success like Facebook or Google is rare. 9999.9% of successful businesses are not like that.

— CZ

The reality faced by most entrepreneurs is different from popular success stories. Building a business requires hard work and persistence. Binance’s ICO and Chinese investors The majority of ICO purchases for Binance were from Chinese investors.

— CZ

80-90% of ICO purchases were by Chinese investors. Understanding the landscape of ICO investments in 2017 is crucial. The ICO for Binance was not banned in China at the time. Crypto exchanges were not banned in March; the ban came after Binance started.

— CZ

Regulatory context in China affected Binance’s operations. Binance’s ICO timing relative to the ban is significant. The influence of Chinese investors was significant for Binance’s ICO. Binance’s resilience and global presence Binance was able to survive the loss of its Chinese user base by relying on its strong global presence.

— CZ

Cutting off 30% of the user base was manageable for Binance. Regulatory changes in China impacted Binance’s operations. The ICO was critical for Binance’s initial growth. Users were incentivized to trade on Binance due to fee discounts. The ICO was critical because people owned the token and traded at a fee discount.

— CZ

Binance’s user acquisition strategy was effective. Understanding the impact of regulatory changes is important. The importance of user engagement The health of a system is better indicated by steady active users rather than revenue or trading volume.

— CZ

User engagement is a key indicator of long-term success. A product’s value is determined by user demand. A product is valuable when people want to use it, even if revenue is zero.

— CZ

Short-term financial metrics are less important than user engagement. Understanding product value is crucial for business strategy. Steady active users reflect a system’s health. User engagement correlates with product value. The changing regulatory landscape The Biden administration’s approach to crypto represents a significant shift.

— CZ

This shift is beneficial for both America and the world. The previous administration’s hostility stemmed from fear of disruption. There’s probably a lot of lobbying from traditional banking industries.

— CZ

Understanding the political landscape surrounding crypto is important. The relationship between government policies and traditional financial institutions is significant. The regulatory climate has implications for the crypto industry. Innovation and established interests influence regulatory attitudes. Legal challenges and compliance The violation of the Banking Secrecy Act is about failing to register as a financial services company.

— CZ

Legal responsibilities of a company are separate from user actions. KYC and AML procedures are not black and white. Effectiveness depends on the systems and standards used.

— CZ

Understanding the nuances of AML compliance is crucial. The legal implications of transaction facilitation vary. No one has gone to jail for weak AML compliance in the crypto space. Historical context of legal repercussions affects future cases.