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I upgrade Qfin Holdings from Hold to Buy, targeting a 61% upside on deep undervaluation and a robust 9%+ dividend yield. QFIN trades at 0.60x price/book versus a 1.59x all-time historical average and 1.19x the 5-year average. The sector median stands at 1.34x. Despite macro headwinds and flat loan facilitation, QFIN demonstrates resilience with steady user growth and disciplined cost management.

HomeStock IdeasLong IdeasConsumer Staples Analysis

SummaryWalmart is rated a long-term 'Buy', supported by resilient cash flows, omnichannel execution, and defensive market positioning.Leadership transition to John Furner ensures strategic continuity and reduces execution risk, reinforcing WMT's durability as a compounder.WMT trades at a premium to peers, justified by its scale, brand strength, and stable margin outlook despite a low-growth retail environment.Incremental margin upside, e-commerce integration, and demographic tailwinds underpin WMT’s ability to steadily compound value for patient investors. Alexander Farnsworth/iStock Editorial via Getty Images

Thesis After decades of loyal customers, I think it is fair to ask if Walmart Inc. (WMT) has reached its peak. CEO Doug McMillon ends his reign and will be replaced by John

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.

GFL Environmental is transitioning from aggressive growth to a high-quality, pure-play solid waste compounder with significant catalysts ahead. GFL's strategic focus includes deleveraging, achieving investment-grade credit, and S&P 500 inclusion, supported by divestitures and a major share buyback. Trading at 13.6x EV/EBITDA, GFL offers a 14% discount to peers and 26% to its historical average, with strong FCF growth and improved leverage.

Shiba Inu has crashed 87% from its March 2024 peak to $0.0000060. Futures open interest drops to $61M, burn rate falls 99%, and technical indicators point to further decline toward $0.00000050.

Newton Gitonga2 min read

14 February 2026, 07:28 AM

Shiba Inu has entered a severe bear market, having fallen from $0.00004565 in March 2024 to $0.0000060. The meme coin's market capitalization has shrunk from over $41 billion to $3.7 billion.

The Ethereum-based token faces mounting pressure as multiple metrics point toward continued weakness. Futures market data reveals a dramatic shift in trader sentiment. Open interest has plummeted to $61 million from a July peak exceeding $400 million.

This decline in unfilled futures orders suggests waning institutional and retail interest. The broader cryptocurrency market experienced over $20 billion in liquidations during October. This event triggered a cascade that affected Bitcoin and alternative coins across the board.

Futures Market Signals Bearish SentimentWeighted funding rates for Shiba Inu have remained negative since February 5. These rates represent fees traders pay to maintain their positions in perpetual futures contracts.

Negative funding rates indicate short sellers dominate the market. Traders holding short positions expect prices to decrease further. This dynamic creates additional downward pressure on SHIB.

The persistent negative funding rate reflects a lack of bullish conviction. Long position holders have largely exited the market or reduced their exposure. Short sellers continue to profit from the declining price action.

Burn Rate Collapse Compounds Price WeaknessShiba Inu's token-burning mechanism has effectively stopped functioning. The burn rate dropped over 99% on Thursday. Only 483 coins were removed from circulation in a 24-hour period.

The burned tokens were valued at less than $1. This represents a negligible impact on the overall supply. The burn mechanism previously served as a deflationary tool to reduce token supply.

Without significant burns, SHIB lacks a fundamental catalyst for price recovery. The collapse in burning activity reflects diminished community engagement. Fewer holders participate in voluntary burn initiatives.

Shibarium, the layer-2 blockchain solution for Shiba Inu, shows similar deterioration. Total value locked has fallen to just $856,000. This metric measures assets deposited in the network's protocols.

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Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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Solana company stock, HSDT, has seen a price pump as traders price in bullish news. The firm announced they are now allowing for institutional borrowing using staked SOL for its investors.

Staked SOL Loan Launch Sends Solana Company Stock Higher The SOL treasury firm has seen its shares jump substantially in value amid the new development. The stock jumped as high as over 17% before closing the market with a nearly 15% gain. It added another 3% during after trading hours.

Source: Yahoo Finance; HSDT daily price chart This comes after it said in a press release that it will enable institutions to borrow against natively staked SOL while maintaining assets in custody. This is meant to provide liquidity from treasury holdings in a protracted bear market for Solana company-linked stocks.

The Nasdaq-listed company, which was previously Helius Medical Technologies, teamed up with Anchorage Digital and Kamino to allow loans against SOL that are staked. This will allow stakeholders to earn staking rewards while providing liquidity for on-chain borrowing instead of unstaking or selling their coins to raise funds.

This also follows a trend of Solana treasury companies building on offerings through their holdings. For example, last month, DeFi Dev Corp said it would be using some of its SOL to invest in yield farming. This is in a bid to boost its treasury instead of leaving it idle.

Meanwhile, this new offering could also help institutions keep their natively staked SOL managed while keeping it productive.

“Institutions want access to the most efficient sources of onchain liquidity, but they aren’t willing to compromise on custody,.. this allows institutions to keep natively staked SOL held with a qualified custodian while using it productively,” Nathan McCauley, CEO of Anchorage Digital said.

The stock price went up to approximately $2.30, having recovered from a record low of about $1.80 earlier this week. The Solana company stock is still down by about 90% since the company shifted to a SOL treasury model last year.

SOL Treasuries Move to Protect Capital Amid Market Crash The latest development by the company comes as publicly listed Solana treasury companies continue to come under pressure following the drop in SOL from $245 to around $83 amid the crypto market crash.

A drop in the price of tokens has had a significant effect on the balance sheets of companies, with many now depending on staking revenue rather than the price of tokens. This also affected the Solana company HSDT stock value as it worsened.

Sharps Technology recently revealed that its treasury is earning around a 7% annualized staking return while scaling its validator business. Also, SOL Strategies introduced a liquid staking token collateralized with over 500,000 SOL. They also added a fee-generating product in addition to their validator and treasury business.

Jessie A Ellis Feb 14, 2026 09:06

Bitcoin trades at $69,847 with RSI at neutral 37.51. Technical analysis suggests BTC could target $75K resistance, while institutional forecasts range from $110K-$150K for 2026.

BTC Price Prediction Summary • Short-term target (1 week): $72,064 • Medium-term forecast (1 month): $68,000-$75,000 range
• Bullish breakout level: $75,167 • Critical support: $65,520

What Crypto Analysts Are Saying About Bitcoin While specific analyst predictions from the past 24 hours are limited, recent institutional forecasts provide valuable insight into Bitcoin's trajectory. Standard Chartered revised its Bitcoin forecast to $150,000 for 2026, down from a previous $300,000 target, citing concerns about Bitcoin Digital Asset Treasury companies' ability to maintain aggressive accumulation patterns.

Carol Alexander from the University of Sussex predicts 2026 trading in a "high-volatility range" between $75,000 and $150,000, with a gravitational center around $110,000 as markets "digest a transition from retail-led cycles to institutionally distributed liquidity."

VanEck maintains an ultra-bullish long-term outlook, predicting Bitcoin could reach $2.9 million by 2050 with a 15% compound annual growth rate, though this represents a decades-long investment thesis rather than near-term price action.

BTC Technical Analysis Breakdown Bitcoin's current technical setup presents a mixed but cautiously optimistic picture. Trading at $69,846.92, BTC sits above key support levels while facing resistance from multiple moving averages.

The RSI reading of 37.51 indicates neutral momentum, avoiding both overbought and oversold extremes. This positioning suggests room for upward movement without immediate selling pressure. However, the MACD histogram at 0.0000 with both MACD and signal lines aligned at -5354.72 indicates bearish momentum that appears to be stabilizing.

Bitcoin's position within the Bollinger Bands reveals important technical context. With a %B position of 0.33, BTC trades closer to the lower band ($59,137) than the upper band ($91,196), suggesting potential for mean reversion toward the middle band at $75,167.

The most significant technical challenge lies in Bitcoin's relationship with moving averages. BTC trades below the SMA 20 ($75,167), SMA 50 ($84,699), and SMA 200 ($100,819), indicating the need to reclaim these levels for sustained bullish momentum.

Bitcoin Price Targets: Bull vs Bear Case Bullish Scenario The primary upside target centers on reclaiming the SMA 20 at $75,167, which aligns closely with institutional Bitcoin forecast ranges. A break above this level could trigger momentum toward the immediate resistance at $70,955, followed by the stronger resistance zone at $72,064.

Technical confirmation would require: - RSI breaking above 50 to confirm bullish momentum - MACD histogram turning positive - Sustained trading above the 20-day moving average

Success in these areas could push Bitcoin toward the upper Bollinger Band near $91,196, representing a 30% upside from current levels.

Bearish Scenario Downside risks focus on the critical support cluster between $65,520 and $67,683. A breakdown below this zone could accelerate selling toward the lower Bollinger Band at $59,137, representing a 15% decline.

Risk factors include: - Continued institutional selling pressure from Bitcoin treasury companies - MACD remaining in negative territory - Failure to reclaim moving average support levels

The daily ATR of $4,843 suggests significant volatility remains, amplifying both upside and downside potential.

Should You Buy BTC? Entry Strategy Current technical conditions suggest a measured approach to Bitcoin accumulation. The neutral RSI and stabilizing MACD provide a reasonable entry window, though buyers should wait for technical confirmation.

Optimal entry strategies include: - Accumulation on dips toward $67,683 support with stops below $65,520 - Momentum entries above $72,064 resistance with targets at $75,167 - Dollar-cost averaging for long-term positions aligned with institutional Bitcoin forecast targets

Risk management remains crucial given the 24-hour trading range of nearly $3,300, highlighting Bitcoin's continued volatility.

Conclusion This BTC price prediction anticipates a consolidation period between $65,520 and $75,167, with bias toward the upper end of this range. The convergence of institutional Bitcoin forecast targets around $110,000-$150,000 for 2026 supports a longer-term bullish thesis, while immediate technical factors suggest cautious optimism.

The probability of reaching $75,000 within the next month appears moderate at approximately 60%, contingent on reclaiming key moving averages and sustaining momentum above current resistance levels.

This Bitcoin forecast is for educational purposes only and should not be considered financial advice. Cryptocurrency investments carry substantial risk, and past performance does not guarantee future results.

Image source: Shutterstock

btc price analysis btc price prediction

Terrill Dicki Feb 14, 2026 09:12

Ethereum shows bullish momentum at $2,082 with 6.32% daily gains. Technical analysis points to $2,300-$2,400 targets as ETH breaks above key moving averages, though bearish MACD signals caution.

ETH Price Prediction Summary • Short-term target (1 week): $2,200-$2,300 • Medium-term forecast (1 month): $2,300-$2,400 range
• Bullish breakout level: $2,185 (strong resistance) • Critical support: $1,895

What Crypto Analysts Are Saying About Ethereum While specific analyst predictions from recent days are limited, institutional forecasts remain optimistic for Ethereum's long-term trajectory. According to Standard Chartered's January 12, 2026 report, "We now expect ETH to end 2026 at $7,500, down from a previous estimate of $12,000." This represents significant upside potential from current levels, though the bank has revised its target downward.

Altcoin Doctor (@AltcoinDoctor) previously projected "Ethereum's potential to reach $3,500 by mid-January 2026," though this target was not achieved within the specified timeframe. The miss suggests that Ethereum may need more time to build momentum for substantial price appreciation.

According to on-chain data from major analytics platforms, Ethereum's current price action shows signs of bottoming after a prolonged downtrend, with increased trading volume supporting the recent 6.32% daily gain.

ETH Technical Analysis Breakdown Ethereum's technical picture presents a mixed but increasingly bullish outlook. The current price of $2,082 sits above the 7-day SMA ($2,034), indicating short-term momentum is shifting positive. However, ETH remains well below longer-term moving averages, with the 20-day SMA at $2,308 and the 200-day SMA at $3,555.

The RSI (14-period) at 36.23 places Ethereum in neutral territory, suggesting neither oversold nor overbought conditions. This provides room for upward movement without immediate resistance from momentum indicators.

MACD analysis reveals bearish momentum with the histogram at effectively zero (-0.0000), indicating the potential for a momentum shift. The MACD line at -247.64 matches the signal line, suggesting a possible bullish crossover could emerge.

Bollinger Bands show ETH trading at 0.35 of the band range, positioned between the middle band ($2,308) and lower band ($1,564). The current position suggests Ethereum has room to move toward the upper band at $3,052.

Ethereum Price Targets: Bull vs Bear Case Bullish Scenario The immediate resistance at $2,133 represents the first hurdle for continued upside. A break above this level could propel ETH toward the strong resistance at $2,185, which aligns with our short-term target range.

Breaking above $2,185 would likely trigger momentum-driven buying, potentially pushing Ethereum toward the 20-day SMA at $2,308. This level coincides with our medium-term forecast of $2,300-$2,400, where the Bollinger Band middle line could provide additional resistance.

For a sustained bullish breakout, ETH would need to reclaim and hold above $2,400, opening the path toward testing the $2,800-$3,000 zone where the 50-day SMA currently resides.

Bearish Scenario The immediate support at $1,988 must hold to maintain the current bullish bias. A break below this level could trigger selling pressure toward the strong support at $1,895, which represents our critical support level.

Failure to hold $1,895 could lead to a retest of recent lows near $1,564, aligning with the Bollinger Band lower boundary. Such a move would invalidate the current recovery attempt and suggest further consolidation is needed.

Should You Buy ETH? Entry Strategy Current technical conditions favor a cautious bullish approach. Entry points around $2,040-$2,080 offer reasonable risk-reward profiles, with stop-loss orders placed below $1,980 to limit downside exposure.

For conservative traders, waiting for a break above $2,185 with volume confirmation would provide higher probability setups, targeting the $2,300-$2,400 zone.

Risk management remains crucial given the mixed technical signals. Position sizing should account for the 14-day ATR of $184.63, indicating significant daily volatility that could impact short-term positions.

Conclusion This ETH price prediction suggests Ethereum is positioned for a moderate recovery toward $2,300-$2,400 over the coming month, supported by improving short-term technicals and institutional price targets. However, the bearish MACD and distance from key moving averages warrant caution.

The Ethereum forecast carries a moderate confidence level given the mixed technical signals. Traders should monitor the $2,185 resistance break and $1,895 support hold as key confirmation levels for this prediction.

Disclaimer: Cryptocurrency price predictions involve significant risk and uncertainty. This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research and consider your risk tolerance before making investment decisions.

Image source: Shutterstock

eth price analysis eth price prediction

Zach Anderson Feb 14, 2026 09:18

BNB trades at $626.51 with RSI at oversold 28.35, suggesting potential bounce to $680-$720 range. Critical support holds at $584 while resistance looms at $649.

Binance Coin (BNB) is showing classic oversold signals that could trigger a significant price recovery in the coming weeks. Trading at $626.51 with extremely low RSI readings, the technical setup suggests BNB price prediction models are pointing toward a potential bounce that could deliver substantial returns for positioned traders.

BNB Price Prediction Summary • Short-term target (1 week): $649-$660 • Medium-term forecast (1 month): $680-$720 range
• Bullish breakout level: $649.24 • Critical support: $584.02

What Crypto Analysts Are Saying About Binance Coin While specific analyst predictions are limited for the immediate term, historical data from late 2025 provides context for current market positioning. According to previous analysis from Blockchain.News, BNB demonstrated potential for 12-18% upside moves during similar oversold conditions, with targets reaching the $950-$1,020 range during favorable market cycles.

MEXC News analysis from December 2025 projected BNB could reach maximum prices of $1,005, though current market conditions suggest more conservative near-term targets are appropriate. On-chain metrics from major data platforms indicate that BNB's current positioning below all major moving averages creates a compelling risk-reward setup for contrarian investors.

BNB Technical Analysis Breakdown The current Binance Coin forecast reveals a deeply oversold asset with multiple technical indicators flashing potential reversal signals. BNB's RSI reading of 28.35 places it firmly in oversold territory, historically a zone where significant bounces originate.

The MACD histogram at 0.0000 with a reading of -69.4065 shows bearish momentum is potentially exhausting itself. While the signal remains negative, the flattening histogram suggests selling pressure may be diminishing.

Bollinger Band analysis reveals BNB trading at just 0.28 of the band width, positioned much closer to the lower band at $508.22 than the upper band at $936.84. This extreme positioning often precedes mean reversion moves toward the middle band at $722.53.

Key moving averages paint a bearish picture with BNB trading below all major timeframes: SMA 7 ($623.43), SMA 20 ($722.53), SMA 50 ($827.07), and SMA 200 ($913.94). However, the proximity to the 7-day SMA suggests short-term support may emerge.

Binance Coin Price Targets: Bull vs Bear Case Bullish Scenario The primary BNB price prediction for the bullish case targets immediate resistance at $649.24, representing a 3.6% upside from current levels. A break above this level could trigger momentum toward the stronger resistance zone near $680-$720, aligning with the SMA 20 at $722.53.

Technical confirmation would require RSI breaking above 35 and daily volume exceeding the current 24-hour average of $109 million. A sustained move above $660 could indicate the beginning of a larger recovery toward previous support levels that have now become resistance.

Bearish Scenario The bearish Binance Coin forecast centers on the critical support level at $584.02. A breakdown below this level could accelerate selling toward the Bollinger Band lower boundary near $508.22, representing potential downside of 19% from current levels.

Risk factors include continued weakness in broader cryptocurrency markets, regulatory concerns affecting Binance operations, or failure to hold above the psychological $600 level. The distance from all major moving averages suggests any bearish break could be severe.

Should You Buy BNB? Entry Strategy Current oversold conditions create an attractive entry opportunity for risk-tolerant traders. The optimal entry strategy involves scaling into positions between $620-$630, with the strongest conviction purchases near the $584 support level.

Stop-loss orders should be placed below $575 to limit downside risk to approximately 8-9% from current levels. This provides favorable risk-reward ratios targeting the $649-$680 resistance zone.

Conservative investors might wait for RSI to break above 35 and price to reclaim the $649 resistance before establishing positions, though this approach sacrifices potential upside for reduced risk.

Conclusion The BNB price prediction for the next 4-6 weeks favors a technical bounce targeting $680-$720, driven by severely oversold conditions and potential mean reversion toward key moving averages. While current bearish momentum cannot be ignored, the risk-reward setup appears favorable for contrarian positioning.

Confidence level: Moderate (65%) based on technical oversold signals, though broader market conditions remain a significant variable.

Disclaimer: Cryptocurrency price predictions are speculative and subject to high volatility. This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research and risk assessment before making investment decisions.

Image source: Shutterstock

bnb price analysis bnb price prediction

Peter Zhang Feb 14, 2026 09:24

XRP shows resilience at $1.40 support with technical indicators suggesting potential rally to $1.60. Current oversold RSI and bullish divergence patterns point to short-term recovery ahead.

XRP Price Prediction Summary • Short-term target (1 week): $1.60 • Medium-term forecast (1 month): $1.40-$1.73 range
• Bullish breakout level: $1.52 • Critical support: $1.33

What Crypto Analysts Are Saying About Ripple Recent sentiment from crypto traders remains cautiously optimistic despite XRP's recent consolidation phase. Young Forever .XRP (@xeluc99) noted just 2 hours ago: "XRP is showing strong support at $1.40. If it holds, we might see a push towards $1.60 in the coming days."

This aligns with broader analyst expectations, as Timothy Morano highlighted on January 27 that "XRP trades at $1.64 with bearish momentum but oversold RSI signals potential reversal. Technical analysis suggests $1.73 resistance breakout could drive Ripple toward $2.60-$4.00 range by 2026."

Meanwhile, Dominic Basulto remains bullish on Ripple's long-term prospects, predicting that "The world's fourth-largest cryptocurrency is going to set a new all-time high and end the year trading above the $4 mark" by 2026.

XRP Technical Analysis Breakdown XRP's current technical setup presents a mixed but increasingly constructive picture. Trading at $1.45, Ripple sits well below its key moving averages, with the 20-day SMA at $1.56 and 50-day SMA at $1.83 acting as overhead resistance levels.

The RSI reading of 39.57 indicates XRP is approaching oversold territory without being deeply oversold, suggesting room for a bounce. The MACD histogram at 0.0000 shows bearish momentum is stalling, potentially setting up for a bullish crossover if buying pressure emerges.

Bollinger Bands analysis reveals XRP positioned at 0.37 between the bands, closer to the lower band at $1.16 than the upper band at $1.96. This positioning typically suggests the asset is oversold relative to recent price action.

Key resistance levels emerge at $1.49 (immediate) and $1.52 (strong), while support holds at $1.39 (immediate) and $1.33 (strong). The pivot point sits at $1.42, making current levels critical for determining short-term direction.

Ripple Price Targets: Bull vs Bear Case Bullish Scenario If XRP maintains support above $1.40 as suggested by recent trader observations, the path to $1.60 becomes increasingly likely. A break above immediate resistance at $1.49 could trigger momentum buying toward the $1.52 strong resistance level.

Beyond $1.52, XRP would target the 20-day moving average at $1.56, with the next major resistance at $1.73. A sustained move above $1.73 could validate longer-term targets toward the $2.60-$4.00 range projected by technical analysts.

Bearish Scenario Failure to hold the $1.40 support level would likely trigger selling pressure toward the strong support at $1.33. A break below $1.33 could accelerate downside momentum toward the Bollinger Band lower boundary at $1.16.

The 200-day moving average at $2.39 remains significantly above current levels, indicating the longer-term trend requires substantial buying pressure to resume.

Should You Buy XRP? Entry Strategy Current levels near $1.45 offer a reasonable risk-reward setup for traders willing to bet on the $1.40 support holding. Conservative entry points emerge on any dip toward $1.41-$1.42, with stop-losses placed below $1.38 to limit downside risk.

Aggressive traders might consider entries above $1.49 on a confirmed breakout, targeting the $1.60 level mentioned by crypto analysts. Position sizing should remain conservative given the broader market uncertainty and XRP's position below key moving averages.

Risk management remains crucial, with the daily ATR of $0.13 indicating significant volatility potential. Traders should expect price swings of 8-10% in either direction over the coming sessions.

Conclusion This XRP price prediction suggests a cautiously optimistic outlook for Ripple in the near term. With support holding at $1.40 and oversold technical conditions developing, the probability of a move toward $1.60 appears reasonable within the next 1-2 weeks.

However, the Ripple forecast remains dependent on broader market conditions and XRP's ability to reclaim key resistance levels above $1.52. While longer-term targets of $2.60-$4.00 provide upside potential, investors should focus on the immediate $1.40-$1.73 trading range.

Disclaimer: Cryptocurrency price predictions are inherently speculative and based on technical analysis and market sentiment. Past performance does not guarantee future results, and all investments carry significant risk of loss.

Image source: Shutterstock

xrp price analysis xrp price prediction

XRP price hovered at around $1.40 on Saturday, with the U.S. government potentially heading toward a shutdown. The cryptocurrency has gained 4.29% and is trading at 1.41 in the past 24 hours.

While cryptocurrency mishaps have historically affected individual investors and exchanges, recent events show that even government authorities are not immune.

In South Korea, authorities are investigating the loss of a substantial Bitcoin (BTC) stash seized in a criminal case in 2021, local media reports. 

According to a Friday report from the Seoul Economic Daily, 22 BTC, worth approximately $1.5 million at current prices, were held by the Seoul Gangnam Police Station, and the loss was uncovered during a nationwide audit of digital asset custody practices.

The Bitcoin had been handed over to Gangnam police in November 2021, but the loss went unnoticed because the probe was put on hold. Although the physical USB containing the funds was never taken, the Bitcoin stored on it was illicitly siphoned.

The Gyeonggi Bukbu Provincial Police Agency has launched an internal investigation to determine how the leak occurred and whether any internal personnel were involved. 

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The probe comes after a separate incident at the Gwangju District Prosecutors’ Office, where 320 BTC — valued at roughly $21.3 million at current prices — went missing in August 2025. Prosecutors attributed the loss to a leaked password resulting from a phishing attack during official storage.

A cryptocurrency phishing attack occurs when scammers deceive users into revealing private keys, passwords, or seed phrases by posing as trusted wallets or platforms. Such attacks are prevalent because crypto transactions are decentralized and irreversible.

The two incidents underscore the persistent challenges of securely managing digital assets, even for government authorities.

Early last month, South Korea’s Supreme Court ruled that Bitcoin held on cryptocurrency exchanges can be seized under the country’s Criminal Procedure Act. The ruling establishes that digital assets held on exchanges can be subject to confiscation in criminal investigations, despite lacking a physical form.

Billions in Cryptocurrency Held by Government Authorities South Korean authorities are not alone in holding large cryptocurrency reserves. In June 2025, America’s leading crypto exchange, Coinbase, announced assisting the U.S. Secret Service in seizing $225 million in crypto allegedly stolen by scammers, marking the agency’s largest crypto seizure to date.

In the U.K., authorities considered in October whether to retain $6.4 billion in seized Bitcoin rather than return it to fraud victims. The Bitcoin was confiscated in 2018 from scammers who defrauded 128,000 investors in China.

The crypto market remained under pressure earlier today in Asia and other markets following Coinbase’s reported $667 million loss and Standard Chartered’s gloomy prediction. Bitcoin fell to near $65k earlier yesterday but recovered to $67k at the day’s close. Despite the brief recovery, the digital currency remains under pressure from the bears due to a poor run of form. 

Bloomberg tweeted:

Image Source: X Bloomberg has highlighted these two factors because they may affect the macro outlook of the digital asset economy. While recent whale accumulations have shown that there is major buying activity from the big players, it will take a while for the dust to settle after the earlier morale-shattering losses. 

Coinbase Announces Surprise Quarterly Loss Coinbase has announced that it incurred a loss of $667 million in the last quarter of 2025, largely because of dwindling trading volumes amid a major sell-off. This is the first such instance since Q3 2023 that the cryptocurrency exchange has posted a loss. 

Another concern is that the platform’s revenue fell by almost 20% during this period, highlighting a cooling crypto market. The latter experienced its largest liquidation in history during the second week of the quarter, when $19 billion in longs were wiped out in a matter of hours. 

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Coinbase is currently engaged in intense deliberations with the US government and the banking community regarding the provisions of the CLARITY Act, a framework for regulating stablecoins and other digital assets. Banks want to rein in the staking capabilities of stablecoins, which are hurting their business, while exchanges like Coinbase are firmly opposed to such measures. 

Bitcoin to Drop to $50k Before Next Move: Standard Chartered Major financial institution Standard Chartered has predicted that Bitcoin is likely to fall to as low as $50k in the short term before recovering later this year. 

“I think we are going to see more pain and a final capitulation period for digital asset prices in the next few months. The macro backdrop is unlikely to provide support until we near [Kevin] Warsh taking over at the Fed,” The Head of Digital Asset Research, Geoffrey Kendrick, said in an email to The Block. 

However, SC predicts that the premier digital currency will recover to $100k by the end of this year. While still a downgrade from the bank’s earlier $150k and $300k prediction from last year, it does show that the digital asset still has the apparent capability to bounce back strongly from deep bearish territory.

Bitcoin bottom signals: ETF outflows, miner stress, and why a 2026 recession looks like the outlierBitcoin could be approaching a cycle low as spot Bitcoin ETF flows keep leaking and miner economics stay tight, even while recession talk dominates the timeline.

The key point: a 2026 recession or stock-market crash still looks like the outlier scenario, which means Bitcoin can bottom on Bitcoin-native mechanics: forced selling, leverage unwinds, miner stress, and a clearing level where the buyer base changes personality.

TL;DR: ETF flows are still draining, which usually forces price to find a new clearing level.Miner economics look wintry (fees are tiny versus revenue), raising the odds of mechanical selling pressure in drawdowns.Macro forecasts and market odds still treat a 2026 recession as a minority outcome, so Bitcoin can bottom without a global crash.The framework I use for Bitcoin hasn’t really moved since last September, when I wrote about it ahead of October’s all-time high.

I spelled it out again in my medium-term $49,000 Bitcoin bear thesis on Nov. 24, 2025, then checked in on it on Jan. 30, 2026.

Across both posts, the message stayed consistent:

Bitcoin still trades in cycles, the real “this is the low” moment tends to arrive when miner economics and institutional flows align, and the eventual bottom print usually feels mechanical rather than emotional.

What has changed is the framing people keep trying to bolt onto 2026. The conversation has slid into a predictable groove: many are leaning hard into a narrative where Bitcoin can’t truly bottom unless there’s a global recession, or an equity wipeout that drags every risk asset down in one synchronized liquidation.

I understand why that narrative spreads. It’s tidy. It’s dramatic. It gives everyone one clean culprit.

But it’s starting to look less like the center lane as Bitcoin has already fallen over $20,000 since the start of the year, while the stock market prints new all-time highs.

Bitcoin ETF outflows: the cleanest stress gauge in the cycleThe second pillar in my framework is flow elasticity, and spot ETF flows are the cleanest real-time window we’ve ever had into that.

By late January, flows were telling a story of risk appetite draining away even as price tried to stabilize.

On Farside, multiple large outflow days hit, including roughly -$708.7 million on Jan. 21 and -$817.8 milion on Jan. 29. The year-to-date total was around -$1.095 billion when I checked in on Jan. 30. Since then, yearly flows have reached -$1.8 billion, with $1 billion leaving Fidelity's FBTC alone.

Those are the kinds of prints that change how “buy the dip” psychology works. In the friendly version of the ETF regime, down days get met with steady net buying because allocators treat weakness as inventory. In the stressed version, the pipe flips into a drain, and price has to travel to a clearing level where that drain turns back into a bid.

The key point: this can unfold even if everything else looks fine. Equities can keep grinding, growth forecasts can stay intact, and Bitcoin can still go through a violent internal reset because its marginal buyer and seller are now visible day-by-day in a flow table.

Miner economics and the Bitcoin security budget already feel like winterMy original bear case leaned on miner economics for a reason: mining is where Bitcoin’s real-world cost base intersects with market structure.

On Jan. 29, miners earned roughly $37.22 million per day in revenue. On the same date, total transaction fees paid per day were about $260,550.

That puts fees at roughly 0.7% of revenue.

This matters because it tells you what the chain is actually relying on to stay secure. Fees have been basically negligible; issuance has been doing the heavy lifting; and issuance continues stepping down on a schedule. When conditions tighten, that shifts the burden back onto price and hash economics.

You can see the same vibe in the live fee market. The mempool feed has repeatedly shown next-block median fee projections staying sleepy for long stretches, exactly the type of environment where a sharp price leg can happen without any macro headline acting as the trigger.

This is why the $49,000 to $52,000 region still reads to me as a plausible cycle floor: it’s the zone where narrative debates tend to give way to inventory transfer, from forced sellers and exhausted holders to allocators who have been waiting for a level they can size into.

2026 recession odds: why a macro crash still looks like the outlierThe major forecasting shops keep using “slowdown” language rather than “breakage” language. The IMF has global growth at 3.3% for 2026.

The World Bank sees growth easing to 2.6% in 2026 and still frames the system as broadly resilient, even with trade-tension noise.

The OECD is in the same ballpark, pencilling global GDP growth down to 2.9% in 2026.

Then there’s the market-implied, crowd-sourced version of that same “risk is real but not dominant” idea. On Polymarket, the probability of a U.S. recession by end-2026 has been hovering in the low-20s, high enough to matter, but not high enough to describe the consensus baseline.

Where this debate gets real for normal people is jobs, because labour markets are how “macro” translates into lived experience.

And here, the latest data delivered both a warning sign and a reminder that “grind” and “crash” aren’t the same thing.

Jobs data: the macro stress test still points to a grindThe BLS benchmark revision slashed 2025 nonfarm job growth to 181,000 from 584,000. That’s the kind of adjustment that changes the tone of the whole discussion. It also maps onto how 2025 felt: slower hiring, fewer easy job switches, and a noticeable cooling in white-collar momentum.

Annual U.S. job gains and losses since 2000, highlighting the sharp pandemic-driven contraction in 2020 and a slowdown to 181,000 jobs added in 2025. (Source: BLS)At the same time, that same BLS release shows unemployment at 4.3% in January 2026, with payrolls up 130,000, driven mainly by health care and social assistance. That’s a cooling market, but it’s still a market with forward motion. And it helps explain the weird split screen: stocks can keep levitating while households keep talking about “recession” over dinner.

That disconnect is exactly why I keep separating Bitcoin’s internal cycle mechanics from the global-doom storyline. A recession could still arrive in 2026, but markets are still treating it like a minority outcome.

And that matters for Bitcoin because it means you don’t need a worldwide inferno to get a major drawdown. A local fire is enough: leverage unwinds, miners are pushed into mechanical selling, ETF flows continue leaking, and price falls until the buyer base changes personality.

Bitcoin has already slid into the high $60,000s while equities keep tagging fresh highs. That divergence is the story. The chart reads like a standard cooling phase; the internals have felt like winter for weeks.

So when I say “2026 recession or stock crash looks like the outlier,” I’m not saying risk is gone. I’m saying the base case has shifted toward friction the system absorbs, messy politics included.

Which leaves a straightforward setup: Bitcoin can still print a cycle low on Bitcoin-specific mechanics.

Debt, delinquencies, and corporate bankruptcies: stress can rise without a recession labelThere’s another macro pocket that matters here, even if it sits below GDP forecasts and stock indexes in most people’s mental hierarchy.

Corporate failures have been rising, and the numbers are now high enough to change the “feel” of the cycle even while the headline economy keeps moving forward. S&P data showed qualifying U.S. corporate bankruptcy filings hit 785 in 2025, the highest since 2010, with December alone at 72 filings.

The month-to-month story is straightforward: refinancing became tougher, interest costs stayed stubborn, and the weakest balance sheets started breaking sequentially. Market Intelligence showed the pace was already elevated by mid-year, with first-half 2025 filings at the highest level since 2010.

For households, stress is even easier to visualize because it shows up at the register. The NY Fed put total household debt at $18.8 trillion in Q4 2025, up $191 billion on the quarter, with credit card balances at $1.28 trillion.

Credit card strain has been climbing too. The NY Fed charts show roughly 13% of card balances 90+ days delinquent in Q4 2025, and the quarterly transition rate into 90+ day delinquency for credit cards around 7% of balances.

The sharpest edge appears among younger borrowers. The same NY Fed age breakdown has 18–29 in the ~9–10% range for serious delinquency transitions on credit cards, with 30–39 not far behind.

Put together, this looks like a late-cycle slog: cracks spreading in weaker areas, while policy gets tugged closer to easing as the year progresses.

That’s relevant for Bitcoin because Bitcoin is effectively a trade on liquidity, risk appetite, and forced selling, well before an “official recession” label lands.

2026 macro outlook: friction, not collapseThe reason I keep resisting the “everything must crash together” framing is simple: most forward-looking indicators still point to a muddle-through environment.

The IMF describes a steady global economy, with tech investment and adaptation offsetting trade policy headwinds. The World Bank uses “resilient” and explicitly notes easing financial conditions as a cushion. The OECD flags fragilities, but remains in a world where growth continues.

At higher frequency, the J.P.Morgan Global Composite PMI printed 52.5 for January, and S&P Global’s read-through ties that level historically to roughly a 2.6% annualised global GDP pace. That’s not exciting growth, but it’s still growth.

Trade is another area where people expect fractures to show up first, and that picture also looks more complicated than collapse-ready. The UNCTAD trade update heading into 2026 talks about fragmentation and regulatory pressure, but “pressure” is not the same thing as “breakdown.” The Kiel Trade Indicator helps here because it runs closer to real time than most macro series, separating shipping noise from underlying demand.

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Bitcoin miners are operating two businesses now — and drawdowns behave differentlyOne underappreciated shift this cycle is that many miners no longer resemble pure Bitcoin margin machines.

A growing number now look like energy and infrastructure businesses that also mine Bitcoin.

That matters in two ways.

First, it alters survivability. A second revenue stream can keep operations running through low-fee conditions, and it can help finance capex even when hash economics are tight.

Second, it changes how stress expresses itself in market behaviour. A miner building a compute roadmap may sell Bitcoin more mechanically, funding buildouts, protecting liquidity for power contracts, or curtailing in ways that make network conditions more elastic precisely when the market wants stability.

You can see the outline of the pivot in public disclosures. TeraWulf announced long-duration AI hosting agreements tied to large capacity, with Google involved in the structure per the company release. DataCenterDynamics reported Riot has also been exploring options to pivot capacity toward AI and HPC.

Zoom out and the operational picture gets busy fast: negotiating power, managing shareholders, planning data halls, buying machines, while still competing in the most brutal hash race on earth. More moving parts tends to mean more reflexivity when price starts sliding.

This is a big reason the market can feel like winter internally even before the chart delivers a full cathartic flush.

The $49,000 to $52,000 Bitcoin bottom thesis (and why it still fits)When you stitch the inputs together, the path is not complicated.

Macro is resilient enough that the synchronized global risk-event story has drifted out of the centre lane. The Polymarket recession odds reflect that. And the major forecasters, the IMF, the World Bank, and the OECD, are broadly in the same neighbourhood.

Meanwhile, Bitcoin’s internals look strained: fees remain a tiny slice of miner revenue, ETF flows have shown real risk-off windows, and the on-chain fee tape on mempool has been lethargic.

That combination builds pressure.

And pressure usually resolves the same way in crypto: a fast move, two or three sharp legs down, leverage getting rinsed, and a new buyer base stepping in with conviction.

There’s also a real-economy overlay that markets often ignore until they can’t. The S&P bankruptcy counts and the NY Fed delinquency charts both say the same thing: a lot of companies and households are running out of slack at the margin. That can matter without an equity crash.

It tightens credit, drags on discretionary spending, increases the odds that rates drift lower over time, and shortens the runway to the kind of policy response that tends to arrive once strain becomes undeniable in the data.

A final flush can still be driven by Bitcoin-native mechanics: fees staying depressed, miner economics tightening, ETF flow tables staying messy. Macro adds a second ingredient, a world where stress rises quietly, and the path toward easier conditions gets shorter.

If the market gives us that mechanical reset, the liquidity regime can look friendlier on the other side, and that’s the part of the cycle I care about most.

The $49,000 to $52,000 band remains my base case for that inventory transfer. It’s close enough to feel plausible from here, and it’s psychologically clean enough to attract real size, especially from allocators who’ve been waiting for sub-$50,000 to treat Bitcoin as inventory.

The wildcards never disappear. Geopolitics can always break the neat forecast world. The odds of a China-Taiwan escalation have been actively traded on Polymarket, and those prices can move quickly when headlines hit.

But my focus stays intentionally boring: fees, ETF flows, miner behaviour.

If those inputs remain weak while price keeps bleeding, a sharp print into the $40,000s remains a live outcome, even if the global economy keeps trudging forward and equities keep acting like nothing is wrong.

Disclosure, this is market commentary, not financial advice. Risk management matters more than narratives.

FAQ: Bitcoin bottom, ETF outflows, miner capitulation, and 2026 recession oddsIs Bitcoin near a bottom in 2026?It’s possible. The “near-bottom” setup usually shows up when forced selling becomes more mechanical than emotional, and this cycle you can see that in two places: persistent spot Bitcoin ETF outflows and tightening miner economics. The key is whether price finds a clearing level where the buyer base shifts from dip-traders to allocators sizing real inventory.

What are the biggest signs Bitcoin is bottoming?The most useful “bottom signals” tend to cluster, rather than appear alone. In this framework, the big three are: (1) ETF flows stabilizing after sustained outflows, (2) miner stress peaking (or capitulation risk getting priced in), and (3) price finding a level where selling pressure fades and bids start absorbing supply consistently. You’ll often see the bottom feel “mechanical,” a transfer of inventory, rather than a clean narrative moment.

How do Bitcoin ETF flows affect Bitcoin’s price?Spot ETF flows act like a daily, observable gauge of marginal demand. In the “friendly” version of the ETF era, down days get met with net inflows, which supports price and compresses drawdowns. In the “stressed” version, outflows turn the pipe into a drain, and price usually has to travel to a level where those flows stop leaking and demand reappears.

What is miner capitulation, and why does it matter for a Bitcoin bottom?Miner capitulation is the idea that miners get squeezed enough, by price, costs, or revenue conditions, that they’re forced into more aggressive selling or operational shutdowns. It matters because miners are a recurring source of structural supply, especially when fees are low and profitability tight. Bottoms often show up around periods where miner stress peaks and the market clears that supply.

Can Bitcoin bottom without a 2026 recession or stock market crash?Yes. Bitcoin doesn’t require a synchronized global liquidation to print a cycle low. A local fire can do it: leverage unwinds, ETF outflows persist, miners sell more mechanically, and price falls until the buyer base changes character. A recession could still happen, but it isn’t required for Bitcoin to hit a clearing level.

Why does the $49,000–$52,000 range matter in this thesis?It’s a psychologically clean zone that’s close enough to be plausible, and it’s also the kind of level where “narrative debate” can flip into inventory transfer. In other words: a band where forced sellers and exhausted holders hand supply to allocators waiting for a number they can size into. The market doesn’t bottom because the number is magic, it bottoms because behaviour changes around it.

What would invalidate the “Bitcoin bottom soon” thesis?The simplest invalidation would be the stress gauges getting worse without any sign of absorption: continued heavy ETF outflows, miner economics tightening further, and price failing to find a level where bids consistently offset selling. If those conditions persist, the “bottom soon” call becomes less about timing and more about waiting for a deeper clearing event, potentially into the $40,000s if the unwind accelerates.

Mentioned in this articlePosted in

Grayscale filed to convert its AAVE Trust into a spot ETF on NYSE Arca. The proposed ETF carries a 2.5% sponsor fee and uses Coinbase as custodian. The filing reflects growing institutional interest in DeFi-linked investment products. Grayscale has filed with the U.S. Securities and Exchange Commission to convert its AAVE Trust into a spot exchange-traded fund that would list on NYSE Arca. The move marks another step in the asset manager’s strategy to bring crypto-native products into regulated ETF structures.

The filing arrives as institutional interest in decentralised finance grows. Grayscale’s proposal focuses on AAVE, the native token of the Aave protocol, which dominates decentralised lending within DeFi.

AAVE currently holds a market capitalization near $1.8 billion and trades at around $119, reflecting a roughly 9% daily gain. The token reached an all-time high of $661.69 in April 2021, underscoring its volatility and growth history.

Bitwise, however, appears to have moved first. The firm filed paperwork in December for multiple crypto ETFs, including AAVE-related products. That early submission may position Bitwise ahead in the regulatory queue.

Aave’s Role in DeFi Strengthens ETF Case Aave is the most prominent decentralised lending platform. Users lock crypto assets to earn yield or borrow against collateral without the need for intermediaries. The protocol represents a substantial value locked in DeFi applications.

Investment vehicles tied to AAVE already trade in Europe, including products from 21Shares and Global X. Grayscale’s ETF would bring a U.S.-listed version to regulated markets, expanding access for traditional investors.

Grayscale continues its broader conversion strategy. The firm previously transformed its Bitcoin Trust into a spot ETF after winning a legal battle against the SEC. This marked a paradigm shift in the U.S. ETF market and paved the way for other spot Bitcoin ETFs, which received extensive coverage in crypto regulatory news.

ETF Structure and Market Positioning The new Grayscale AAVE ETF would charge a 2.5% sponsor fee on net asset value. The ETF would pay this fee in AAVE tokens. Coinbase would serve as both custodian and prime broker, strengthening institutional safeguards around custody and execution.

NYSE Arca plans to list the ETF, subject to SEC approval. The exchange has already hosted multiple crypto-linked ETFs, making it a logical venue for expansion into DeFi tokens.

According to regulatory filings available through the SEC, Grayscale’s strategy mirrors its earlier trust conversions. Market analysts from Bloomberg note that token-based ETFs could accelerate institutional flows into altcoins if regulators approve additional listings.

The ETF would allow investors to gain exposure to AAVE without holding tokens directly or managing private keys. That structure may attract hedge funds, asset managers, and wealth advisors seeking simplified DeFi exposure.

DeFi Enters Institutional Phase This announcement by Grayscale marks a larger trend. The DeFi token is no longer a niche asset class but a legitimate candidate for an ETF. This is due to increased clarity and improvements in custody solutions.

Although it is still a long shot, the mere announcement of the ETF shows increased confidence in the DeFi sector’s longevity. Institutional adoption is increasing beyond Bitcoin and Ethereum to native protocol assets.

If approved, the ETF could bring increased liquidity and awareness of AAVE in traditional markets. This would further blur the lines between decentralised finance and traditional financial markets.

Highlighted Crypto News:

KuCoin Institutional Premiere 2026 Highlights Long-Term Growth and Market Resilience

After a long week of extreme fear, the crypto market today is showing a strong sign of recovery, climbing 4% to hover around $2.36 trillion. The leading cryptocurrency, Bitcoin (BTC), is up 5% and trading around $69,563.

Other large cap coins, such as Ethereum (ETH), Solana (SOL), XRP, and Dogecoin, have seen a rise of 6% to 10%.

Now the question is, why crypto market price up today

Why Crypto Market is Going up today, February 14Cooler US Inflation Sparks Crypto RallyOne of the biggest reasons behind the crypto market rally today is the latest U.S. inflation data. According to the Consumer Price Index (CPI) report released by the U.S. Bureau of Labor Statistics on February 13, annual inflation slowed to 2.4% in January, down from 2.7% in December.

Lower inflation data reduces the pressure on the Federal Reserve to keep interest rates high. As a result, investors are moving back into risk assets like crypto for more return. 

As a result, the Bitcoin price today jumped more than 5%, reacting positively to cooling inflation and improving investor confidence.

Bitcoin and Ethereum ETF Inflows Support Crypto Market RecoveryAnother major factor behind why crypto market price up today is the return of inflows into Spot ETFs. After several days of outflows, both Bitcoin and Ethereum ETFs saw renewed investor interest.

On February 13, Bitcoin ETFs recorded total inflows of $15.1 million. Fidelity led with $12 million, followed by WisdomTree with $3.6 million, although BlackRock saw a small outflow.

At the same time, Ethereum ETFs recorded inflows of $10.2 million, led by Grayscale. These inflows signal institutional confidence and support the ongoing crypto market rally today.

Massive Short Liquidations Accelerate Bitcoin and Crypto RallyAnother key driver behind why crypto market price up today is large-scale short liquidations. Over the past 24 hours, 96,323 traders were liquidated, with total liquidations reaching $287.68 million.

Notably, around $250 million came from short positions, meaning traders betting against Bitcoin and crypto were forced to close positions. 

On-chain data also shows fewer Bitcoin and Ethereum coins moving to exchanges, which signals that investors are holding instead of selling, supporting the current crypto market today recovery.

Bitcoin Leads Recovery as ETH, SOL, and XRP Follow HigherBitcoin is once again leading the crypto market, trading near $70,000 after holding support around $65,000. This confirms strong demand and explains why crypto market price up today remains a key discussion point.

Ethereum is also recovering, with the Ethereum price today rising near $2,078 as buying interest returns.

Solana (SOL) is among the top gainers in the top 10 cryptocurrencies, jumping nearly 9% and trading near $86, supported by strong network activity.

Meanwhile, the XRP price today has also increased by 7%, following Bitcoin’s upward momentum and contributing to the overall crypto market rally.

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

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Q4: 2026-02-12 Earnings SummaryEPS of $0.07 beats by $0.11

 |

Revenue of

$166.03M

(0.61% Y/Y)

beats by $5.68M

10x Genomics, Inc. (TXG) Q4 2025 Earnings Call February 12, 2026 4:30 PM EST

Company Participants

Cassie Corneau - Manager of Investor Relations & Strategic Finance
Serge Saxonov - Co-Founder, CEO & Director
Adam Taich - CFO, Treasurer, Principal Financial Officer & Principal Accounting Officer

Conference Call Participants

Tycho Peterson - Jefferies LLC, Research Division
Douglas Schenkel - Wolfe Research, LLC
Puneet Souda - Leerink Partners LLC, Research Division
Daniel Arias - Stifel, Nicolaus & Company, Incorporated, Research Division
Kyle Mikson - Canaccord Genuity Corp., Research Division
Daniel Brennan - TD Cowen, Research Division
Patrick Donnelly - Citigroup Inc. Exchange Research
Mason Carrico - Stephens Inc., Research Division
Subhalaxmi Nambi - Guggenheim Securities, LLC, Research Division
Lu Li - UBS Investment Bank, Research Division
Michael Ryskin - BofA Securities, Research Division
Salem Salem - Barclays Bank PLC, Research Division
Casey Woodring - JPMorgan Chase & Co, Research Division
Matthew Larew - William Blair & Company L.L.C., Research Division

Presentation

Operator

Thank you for standing by. My name is Karli, and I will be your conference operator today. At this time, I would like to welcome everyone to the 10x Genomics Fourth Quarter and Full Year 2025 Earnings Call. [Operator Instructions]

I would now like to turn the call over to Cassie Corneau, Senior Director, Investor Relations and Strategic Finance. Please go ahead.

Cassie Corneau
Manager of Investor Relations & Strategic Finance

Thank you, and good afternoon, everyone. Earlier today, 10x Genomics released financial results for the fourth quarter and full year ended December 31, 2025. If you have not received this news release or would like to be added to the company's distribution list, please send an e-mail to [email protected].

An archived webcast of this call will be available on the Investor tab of the company's website, 10xgenomics.com, for at least 45 days following this call.

Before we begin, I'd like to remind you

Japan Tobacco Inc. (JAPAY) Q4 2025 Earnings Call February 12, 2026 4:30 AM EST

Company Participants

Takehiko Tsutsui - CEO & President & President of Tobacco Business
Eddy Pirard - Chief Executive Officer and President
Hiromasa Furukawa - Senior VP, CFO & Corporate Communications
Vassilis Vovos - CFO and Senior VP of Finance & IT

Conference Call Participants

Hiroshi Saji - Mizuho Securities Co., Ltd., Research Division
Makoto Morita - Nomura Securities Co. Ltd., Research Division
Haruka Miyake - Morgan Stanley, Research Division
Takashi Miyazaki - Goldman Sachs Group, Inc., Research Division
Tsukasa Furuta - SMBC Nikko Securities Inc., Research Division
Shun Igarashi - Daiwa Securities Co. Ltd., Research Division

Presentation

Operator

Thank you for participating in the Investor Meeting for 2025 Full Year Results at Japan Tobacco Inc. today, despite your busy schedules. Since it is a scheduled time, let us get started. Before we start the meeting, I'd like to ask you to make sure that your display name on the Zoom is accurate. Thank you for your cooperation.

In today's meeting, first, our newly appointed JT Group CEO, Takehiko Tsutsui, who assumed the role in January 2026, will introduce the Business Plan 2026. And Eddy Pirard, CEO of JT International, will follow and explain the tobacco business focus on FY 2025 performance. Lastly, Hiromasa Furukawa, Chief Financial Officer of the JT Group will explain JT Group 2025 results and 2026 forecast. Then we move on to the Q&A session, and this meeting is scheduled to end at 8:00 p.m. Japan Standard Time.

Now I would like to introduce the first presenter, Mr. Tsutsui, please begin.

Takehiko Tsutsui
CEO & President & President of Tobacco Business

I am Takehiko Tsutsui, CEO of the JT Group. Thank you very much for attending our conference call today. And I would like to express my appreciation for your continued support

Marvell Technology Q4 2026 Preview: Cooling Growth And Guidance Makes Sense

The eVTOL company is preparing for certification in 2026 and also playing the long game in developing autonomous eVTOL, with the help of Nvidia.

In late 2025, the news that Joby Aviation (JOBY +0.20%) and Nvidia were teaming up to develop an autonomous flight capability hit the market by surprise. Given that Joby is pursuing a vertically integrated strategy (designing, manufacturing, owning, and operating its own aircraft as a transportation company) in the electric vertical take-off and landing (eVTOL) market, the parallel with Tesla's robotaxi rollout is obvious. Is it set to make Joby the undisputed eVTOL champion?

Joby, Nvidia, and the underappreciated risk in the eVTOL market The collaboration will involve Joby using Nvidia's computing power via its new IGX Thor Platform, which is under development alongside Joby's Superpilot autonomous flight technology. It's an interesting move that highlights the differences in approaches among Joby, Archer Aviation, and the eVTOL company no one talks about: Boeing's Wisk.

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Each company has its own strategy. Archer aims to be an eVTOL manufacturer and will sell its aircraft to others. Joby and Wisk, on the other hand, want to run transportation services. The key difference is that Joby, like Archer, is starting with piloted aircraft, while Wisk is focused only on autonomous planes.

Having pilots means that Joby and Archer are significantly ahead in the certification process. Still, if Wisk's autonomous eVTOL gets certified later, they're highly likely to substantially undercut Joby's airtaxis, in the same way that Tesla's robotaxis are likely to be heavily price-competitive with conventional taxis.

Image source: Getty Images.

How Joby is handling risk The potential threat from Wisk is somewhat mitigated by Joby's ongoing development with Superpilot and, more recently, the Nvidia collaboration. Joby plans to develop autonomous functions (mission management, radar processing, etc.) that will act as a digital copilot to assist a human pilot.

However, Joby plans to use Nvidia's technology platform to continue developing Superpilot so it can ultimately "pursue certifiable autonomy for near-term defense and long-term civil applications as the Federal Aviation Administration advances the capabilities of national airspace," according to a Joby press release.

Image source: Joby Aviation.

What's next for Joby The company's plan to develop autonomous eVTOLs for the military in the near term makes sense, as it could establish and test its technology ahead of civil adoption. Moreover, the plan to use Superpilot as a digital copilot on civil airtaxis will give the company substantial flight-hour data to improve it ahead of a potential launch. Again, the analogy with Tesla works, as the EV company has billions of miles of data on its full-self-driving (FSD) software from Tesla drivers.

By working with Nvidia, Joby is reducing the risk that Wisk will overtake it in the autonomous market. The company could have piloted airtaxis in service, and possibly even autonomous ones for the military, before Wisk's civil autonomous eVTOL is certified.

Joby's first-mover advantage could prove telling in funding rounds and establishing technology and trust in the marketplace. Consequently, it's an attractive stock for investors looking for eVTOL exposure.

CSP Inc. (CSPI) Q1 2026 Earnings Call February 12, 2026 10:00 AM EST

Company Participants

Victor Dellovo - Chairman,CEO & President
Gary Levine - VP of Finance, CFO, Treasurer & Secretary

Conference Call Participants

Michael Polyviou - EVC Group Inc.
Joseph Nerges

Presentation

Operator

Greetings, welcome to the CSPi's First Quarter Fiscal Year 2026 Conference Call. [Operator Instructions]. Please note, this conference is being recorded.

I will now turn the conference over to your host, Michael Polyviou. You may begin.

Michael Polyviou
EVC Group Inc.

Great. Thank you. Hello, everyone, and thank you for joining us to review CSPi's financial results for the fiscal 2026 first quarter, which ended on December 31, 2025, as well as recent operating developments.

Today with me on the call is Victor Dellovo, CSPi's Chief Executive Officer; and Gary Levine, CSPi's Chief Financial Officer. [Operator Instructions]

Statements made by CSPi's management on today's call regarding the company's business that are not historical facts may be forward-looking statements as those identified in federal securities laws. The words may, will, expect, believe, anticipate, project, plan, intend, estimate and continue as well as similar expressions are intended to identify forward-looking statements. Forward-looking statements should not be met as a guarantee of future performance or results. The company cautions you that these statements reflect the current expectations about the company's future performance or events and are subject to several uncertainties, risks and other influences, many of which are beyond the company's control that may influence the accuracy of the statements and the projections upon which the segment and statements are based.

Factors that may affect the company's results include, but are not limited to, the risks and uncertainties discussed in the Risk Factors section of the annual report on Form 10-K and the quarterly report on Form 10-Q filed with the

Cohen & Steers Infrastructure Fund receives a 'Buy' rating, while abrdn Global Infrastructure Income Fund is rated 'Hold' due to valuation. UTF's 6% discount to NAV, leveraged structure, and focus on traditional utilities offer attractive entry amid expected rate cuts. ASGI's portfolio is concentrated in modern infrastructure and trades at a record premium to NAV, making it less attractive for new purchases.

Alphabet's artificial intelligence (AI) is again gaining momentum.

Google parent Alphabet (GOOGL 1.08%) (GOOG 1.08%) faced considerable challenges for most of the last five years. The release of GPT-4 appeared to catch the company off guard. For the first time in decades, investors began to doubt the dominance of Google Search as more users turned to artificial intelligence-driven search tools.

Fortunately, Alphabet has reasserted its dominance, and in the minds of some, it now has the leading AI tool. For this reason, its five-year performance far surpasses the S&P 500 (^GSPC +0.05%). Moreover, it will likely beat the market over the next five years. Here's why.

Image source: Getty Images.

Alphabet's growing influence Alphabet stock is back in growth mode because it has leveraged its massive cash hoard and existing intellectual property to make a comeback in AI.

Admittedly, the waning influence of Google Search had hurt the company for reasons other than competing AI tools. Google designed its search engine to direct users to websites and collected revenue from digital ads from that model. Since the AI tools often give users the desired information directly, it reduced the need for such ads.

Nonetheless, amid the release of Gemini 3, breakthroughs in processing and understanding multiple types of data seem to have given the company's tool a technical edge, which is probably why it is gaining attention from institutional investors.

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Moreover, Alphabet has long worked to reduce its dependence on digital ads, which still make up 73% of its revenue. To that end, Google Cloud now generates 15% of the company's revenue, up from 12% last year.

Additionally, Waymo is one of the leading autonomous driving platforms and boasts 20 million rides to date. As it moves into new markets, it will likely emerge as an increasingly critical revenue source over time.

Furthermore, Alphabet continues to step up its investment in AI. For 2026, it pledges to invest between $175 billion and $185 billion, up from $91 billion in 2025. Also, it holds almost $127 billion in liquidity and generated $73 billion in free cash flow in 2025, a figure that does not include capital expenditures. Thus, it can likely afford to invest heavily in its AI while staying competitive over time.

Finally, despite its recent gains, Alphabet stock does not appear expensive. Its P/E ratio of 30 closely approximates the S&P 500 averages. Thus, it remains in a strong position to generate market-beating returns as it cements its AI leadership.

Alphabet in five years Alphabet stock has surged in recent months as its AI vision comes into focus, and that growth should continue over the next five years. Indeed, the size of its AI investments may bring concerns, even for a tech giant like Alphabet.

However, the Google parent is building increasingly compelling, AI-driven platforms in the cloud and for autonomous driving. Over time, its massive investments in that technology should pay off substantially, generating higher profits that should convince more investors to buy Alphabet stock over the next five years and likely beyond.

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.

Q4: 2026-02-12 Earnings SummaryEPS of $0.22 beats by $0.03

 |

Revenue of

$145.31M

(25.18% Y/Y)

beats by $7.22M

JFrog Ltd. (FROG) Q4 2025 Earnings Call February 12, 2026 5:00 PM EST

Company Participants

Jeffrey Schreiner - Vice President of Investor Relations
Shlomi Haim - Co-Founder, CEO & Chairman of the Board
Ed Grabscheid - Chief Financial Officer

Conference Call Participants

Oscar Saavedra - Morgan Stanley, Research Division
Radi Sultan - UBS Investment Bank, Research Division
Michael Cikos - Needham & Company, LLC, Research Division
William Miller Jump - Truist Securities, Inc., Research Division
Mark Cash - Raymond James & Associates, Inc., Research Division
William Kingsley Crane - Canaccord Genuity Corp., Research Division
Brian Essex - JPMorgan Chase & Co, Research Division
Shrenik Kothari - Robert W. Baird & Co. Incorporated, Research Division
Ittai Kidron - Oppenheimer & Co. Inc., Research Division
Jason Ader - William Blair & Company L.L.C., Research Division
Andrew Sherman - TD Cowen, Research Division
Jonathan Ruykhaver - Cantor Fitzgerald & Co., Research Division
Eamon Coughlin - Barclays Bank PLC, Research Division
Lucky Schreiner - D.A. Davidson & Co., Research Division

Presentation

Operator

Ladies and gentlemen, thank you for joining us, and welcome to the JFrog Fourth Quarter and Fiscal Year 2025 Financial Results Call. [Operator Instructions]

I will now hand the conference over to Jeffrey Schreiner, Head of Investor Relations. Jeffrey, please go ahead.

Jeffrey Schreiner
Vice President of Investor Relations

Thank you, Nicole. Good afternoon, and thank you for joining us as we review JFrog's Fourth Quarter and Fiscal Year 2025 financial results, which were announced following the market close today via a press release. Leading the call today will be JFrog's CEO and Co-Founder, Shlomi Ben Haim; and Ed Grabscheid, JFrog's CFO.

During this call, we may make statements related to our business that are forward-looking under federal securities laws and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our future financial performance and

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

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