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Crypto whales quietly increased PUMP holdings as key breakout level comes closerMega whales accumulated SNX aggressively while price tests critical continuation structureXCN whale buying rises as early reversal signals begin quietly formingThe Supreme Court’s decision to ban Donald Trump’s tariffs has quietly shifted global market sentiment. Stocks reacted first, but crypto whales appear to be moving as well. BeInCrypto analysts tracking blockchain flows have identified early accumulation across three altcoins, signaling positioning ahead of a potential liquidity shift.

Tariff removal can ease inflation pressure and improve risk appetite, conditions that often favor speculative assets. This suggests crypto whales may already be preparing for the next phase of macro-driven crypto momentum, provided the positive sentiment holds.

Pump.fun (PUMP)Crypto whales are buying Pump.fun (PUMP), one of the earliest infrastructure plays tied to speculative activity. Platforms like Pump.fun tend to benefit first when risk appetite improves, because they sit at the center of high-risk token launches.

On-chain data shows whale holdings rose 1.16% in the past 24 hours, bringing their total stash to 12.23 billion PUMP. This means whales added roughly 140 million PUMP tokens in a single day.

At the current price, this equals about $280,000 worth of accumulation. While not an aggressive spike, it signals early positioning rather than late chasing, reflecting cautious optimism.

Pump.Fun Whales: NansenThe answer behind this behavior may lie in the price chart. PUMP is currently forming an inverse head-and-shoulders pattern on the 12-hour chart. This is a bullish reversal structure that appears when selling pressure fades and buyers begin regaining control.

The neckline resistance sits near $0.0022, and a confirmed breakout above this level could open the path toward $0.0035, representing a potential upside of over 55%

PUMP Price Analysis: TradingViewMomentum is already building. PUMP is now testing its 20-period Exponential Moving Average (EMA), which tracks the average price while giving more weight to recent moves.

Traders use this level to judge short-term strength. The last time PUMP reclaimed this EMA on February 13, it rallied nearly 15% shortly after. A similar rally can push the PUMP price past the neckline.

However, risks remain. A drop below $0.0019 would weaken momentum, while a fall under $0.0016 would invalidate the bullish setup entirely.

This explains why crypto whales are accumulating gradually. They appear to be positioning early for a PUMP price breakout, but are still respecting the current market structure.

Synthetix (SNX)Crypto whales are buying Synthetix (SNX), but a deeper look shows it is mainly mega whales leading the move. This shift comes after the Supreme Court’s Trump tariff ban improved risk appetite. When macro uncertainty drops, large investors often rotate into higher-beta DeFi tokens that can rise faster.

Synthetix fits this profile because it powers synthetic assets, which tend to attract activity when traders expect stronger market momentum.

The data confirms this selective accumulation. The top 100 addresses increased their holdings by 1.47%, bringing their total stash to 312.22 million SNX.

Synthetix Whales: NansenWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

That means they added roughly 4.52 million SNX in the past 24 hours. At the current price, this equals about $1.83 million worth of SNX accumulated. This is important because mega whales are buying during strength, not weakness. This usually signals positioning for continuation, not just dip buying.

The chart explains why.

SNX appears to be forming a cup and handle pattern, which is a bullish continuation structure. This pattern starts with a rounded recovery, followed by a smaller pullback called the handle. The handle might soon be forming, which means consolidation may happen before the next move.

The key breakout level sits at $0.42. If SNX breaks and shows acceptance above this level, the pattern projection suggests a possible 72% rally toward $0.73.

This potential explains why mega whales are positioning early. They are likely willing to sit through consolidation, while smaller whales hesitate.

SNX Price Analysis: TradingViewOn the downside, $0.36 and $0.32 are important support levels during consolidation. These levels allow the handle to form normally. However, a drop below $0.24 would invalidate the bullish pattern completely.

Onyxcoin (XCN)Onyxcoin (XCN) is the third token where crypto whales have quietly increased exposure after the Supreme Court’s Trump tariff ban. Whale holdings rose from 48.84 billion to 48.96 billion XCN, adding 120 million tokens in one day. At the current price, this amounts to roughly $612,000 in XCN accumulated.

This buying comes despite weak recent performance, suggesting whales may be positioning early for a reversal rather than reacting to strength.

Onyxcoin Whales: SantimentOne possible reason lies in Onyxcoin’s core role. The project focuses on blockchain-based financial infrastructure, including payments and settlement systems. If tariff restrictions ease and global trade improves, demand for blockchain settlement networks could rise. Whales may see XCN as a leveraged bet on that long-term macro shift.

The XCN price chart also supports this early positioning. Between November 4 and February 19, XCN formed a lower low in price, while the Relative Strength Index (RSI) formed a higher low.

RSI measures momentum. When RSI rises while price falls, it signals that selling pressure is weakening. This pattern often appears before a trend reversal. Importantly, the earlier RSI low was deep in the oversold zone, which strengthens the reversal signal.

XCN Price Analysis: TradingViewSome recovery has already started. The next key breakout level sits at $0.0065. If XCN moves above this level, it could target $0.0098, which aligns with a key Fibonacci retracement level. This would represent a potential 92% rally from current levels.

However, risks remain. If XCN falls below $0.0045, the reversal structure weakens. A deeper drop toward $0.0041 could follow.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Bitcoin (BTC) is showing signs of stabilizing after a sharp selloff earlier this month, but analysts caution that a rapid recovery may not be on the horizon. According to Vetle Lunde, head of research at K33, current market conditions resemble late-stage bear market phases seen in September and November 2022, periods that preceded extended consolidation before a broader recovery.

During the 2022 downturn, Bitcoin traded between $15,000 and $20,000, nearly 70% below its 2021 all-time high. Today, BTC is fluctuating within a narrower range of $65,000 to $70,000. K33’s regime model, which analyzes derivatives data, ETF flows, technical indicators, and macroeconomic signals, suggests the market may be nearing a cyclical bottom. However, history indicates that this phase could involve prolonged sideways movement rather than an immediate breakout.

Recent data supports the consolidation narrative. Spot trading volumes have dropped 59% week-over-week, while perpetual futures open interest has fallen to a four-month low. Funding rates remain negative, signaling reduced speculative activity. This cooling-off period often follows liquidation cascades, allowing investors to reset positions and reassess risk.

U.S.-listed Bitcoin ETFs have also experienced significant outflows, with a record decline of 103,113 BTC in exposure since early October. Despite Bitcoin’s nearly 50% retracement, more than 90% of peak ETF exposure remains intact in BTC terms. Meanwhile, the Crypto Fear and Greed Index recently plunged to an extreme low of 5, reflecting deeply bearish sentiment.

Analysts believe Bitcoin is likely near a global bottom but could remain between $60,000 and $75,000 for an extended period. Long-term investors may view current price levels as attractive for accumulation. Historically, Bitcoin tends to trade sideways for long stretches before delivering explosive gains in short bursts. Missing those key rallies can mean missing much of the upside, making patience and strategic positioning critical in the current crypto market cycle.

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SBI Holdings, one of Japan’s largest financial conglomerates, is launching its first blockchain-based bond designed specifically for retail investors. The 10 billion yen (approximately $64.5 million) issuance, branded as the SBI START Bonds, merges traditional fixed-income investing with blockchain settlement technology and crypto incentives, marking a significant step in Japan’s digital securities market.

The three-year bonds are fully managed onchain through “ibet for Fin,” an enterprise blockchain platform developed by BOOSTRY for security token issuance and management. By leveraging blockchain infrastructure, SBI aims to enhance transparency, efficiency, and accessibility in bond transactions while maintaining the familiar structure of conventional fixed-income products.

The SBI START Bonds offer an indicative annual interest rate ranging from 1.85% to 2.45%, with interest payments distributed semiannually. In addition to these returns, eligible investors can receive XRP token rewards, reinforcing SBI’s long-standing partnership with Ripple and its broader commitment to digital assets.

Retail investors residing in Japan and companies that invest at least 100,000 yen (around $650) and hold an account with SBI VC Trade qualify for XRP incentives. The reward structure provides 200 yen worth of XRP for every 100,000 yen invested. These crypto bonuses will be distributed at bond issuance and on each interest payment date through 2029, offering ongoing digital asset exposure alongside fixed-income returns.

Secondary trading of the blockchain bond is scheduled to begin on March 25 via the Osaka Digital Exchange’s proprietary “START” trading system, potentially increasing liquidity and market participation.

SBI Holdings has been closely aligned with Ripple since 2016, holding roughly 9% of Ripple Labs. The company has actively promoted XRP-powered remittances and stablecoin initiatives, including partnerships with Circle for USDC in Japan and a memorandum of understanding to support Ripple’s RLUSD stablecoin. Through this blockchain bond issuance, SBI continues to strengthen its leadership in digital finance and tokenized securities.

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Dogecoin price is hovering just above the $0.10 level as traders evaluate market momentum and broader crypto trends. After weeks of sideways trading, analysts suggest that a renewed wave of buying pressure could push DOGE toward the $0.20 mark this month. Growing optimism across the meme coin sector is fueling speculation that Dogecoin may be preparing for a breakout rally.

The recent surge in popular meme tokens such as Shiba Inu (SHIB), PEPE, BONK, and other speculative assets has reignited investor interest. The total meme coin market cap has climbed to approximately $35 billion, reflecting improved risk appetite. As Bitcoin and Ethereum continue to post gains, analysts believe altcoins like XRP, Solana, and Cardano could further boost overall sentiment, potentially benefiting Dogecoin price action.

The global crypto market cap has risen to around $2.35 trillion, with steady inflows into spot ETFs adding liquidity and confidence. On-chain data also indicates increased whale accumulation and a rise in active wallet addresses, signaling stronger investor engagement. These indicators often precede significant price movements, supporting the bullish outlook for DOGE.

Technical analysis points to the formation of a classic cup-and-handle pattern on the 24-hour chart, a structure commonly associated with bullish breakouts. The rounded bottom has formed, and the current consolidation appears to be shaping the handle. If Dogecoin breaks above the $0.12 resistance level, it could target $0.15 in the short term. Sustained strength beyond that zone may open the path toward $0.20, representing a potential 100% gain from current levels.

At the time of writing, DOGE trades near $0.10 with a 3% daily increase. The RSI sits around 52, indicating neutral momentum, while the Chaikin Money Flow shows mild accumulation. However, a drop below $0.10 could expose support near $0.09, which remains a critical level for maintaining bullish momentum.

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XRP has posted its largest realized losses since 2022, according to on-chain data released by Santiment on February 21. The analytics firm reported a weekly realized loss of $1.93 billion, marking the highest level in 39 months. This spike in realized losses has quickly become a focal point for crypto investors monitoring XRP price trends and broader market sentiment.

Realized losses occur when holders sell their tokens below their acquisition cost, effectively locking in losses. Such activity often signals capitulation, as investors exit positions during periods of fear and uncertainty. Historically, extreme realized loss events have coincided with market bottoms. In 2022, a similar spike preceded a 114% XRP price rally over the following eight months, making the current data especially relevant for traders searching for potential reversal signals.

Santiment emphasized that spikes in profit and loss metrics frequently highlight emotional extremes in the market. When weaker hands sell at a loss, immediate selling pressure can decline, potentially paving the way for price stabilization. As a result, XRP realized losses are now being closely tracked as a key on-chain indicator.

Meanwhile, crypto analysts have outlined ambitious XRP price targets. CryptoBull forecasted $13 in March, $27 in April, and $70 in May, citing momentum-based projections. Egrag Crypto applied historical cycle analysis, noting that XRP’s 2020 low of $0.10 rose to a 2022 low of $0.28—a 2.8x increase. Using similar cycle math, he projected a potential macro bottom between $0.75 and $0.85.

Despite being down over 25% in the past month, XRP recently climbed 1.55% to $1.44 amid a broader crypto market recovery led by Bitcoin. Institutional developments have also supported sentiment, including SBI Holdings’ ¥10 billion on-chain bond issuance rewarding investors with XRP and Société Générale launching its euro stablecoin on the XRP Ledger. Additionally, XRP spot ETFs have recorded three consecutive weeks of net inflows, signaling sustained investor interest.

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American Express and Visa are excellent stocks to buy and hold, but Visa gets the edge.

American Express (AXP +0.95%) is up 160.4% in the last five years compared to a 73.7% gain in the S&P 500 (^GSPC +0.69%).

American Express remains a solid buy, but Visa (V +0.63%) is even more compelling.

Visa's high-margin business model Visa is a pure-play payment processor that isn't responsible for the credit risk of the cards on its network. Rather, it partners with financial services companies and banks.

For example, JPMorgan Chase (JPM +0.85%) issues and bears the credit risk of the popular Chase Sapphire cards, while Visa's network connects merchants to Chase to approve transactions.

Image source: Visa.

American Express is both the payment processor and card issuer -- making it an inherently riskier investment than Visa. But American Express has an exceptional track record of managing risk. Its cards have relatively high annual fees. And it attracts affluent customers with generous rewards programs. These rewards programs are expensive, and they are among the highest costs for American Express. By comparison, Visa doesn't have to worry about those costs -- because again, it isn't issuing the cards.

As a result, Visa is a capital-light, ultra-high-margin business. Expenses cover labor, cybersecurity, network management, and marketing. But it doesn't have to invest a lot of capital to make money, which is a big advantage compared to capital-intensive companies.

Because Visa has such high margins and has historically generated consistent growth, it has commanded a higher valuation than American Express. But American Express has outperformed the S&P 500 for five consecutive years, whereas Visa is down 11.2% over the last year.

Visa is currently trading at a discount to its five-year median price-to-earnings (P/E) and price-to-free-cash-flow (FCF) ratios, while American Express is trading at a premium.

V PE Ratio (5y Median) data by YCharts

Caps on credit card interest rates Visa, Mastercard (MA +1.18%), and American Express are down between 8.8% and 10.4% year to date, even though the S&P 500 is roughly flat. Consumer spending concerns and a proposed 10% cap on credit card interest rates may be spooking some investors.

The 10% cap concerns are arguably overblown because if that were to go into effect, lenders would limit credit access for consumers with lower credit scores -- which could lead to increased use of payday loans and other higher-interest options.

Payment processors generate high margins largely because the fees they collect on transaction volume and frequency are so high. A cap between 10% and the more common 20%+ annual percentage rate would impact issuer margins -- like JPMorgan Chase and American Express -- but not Visa or Mastercard directly. However, it would indirectly impact these companies because their networks would shrink, and transaction volume and frequency would fall.

Visa is one of the best stocks to buy now Visa is better positioned to handle economic uncertainty and industry policy changes than American Express. The recent sell-off makes its valuation very compelling.

American Express has a slightly higher dividend yield at 1% compared to 0.9% for Visa. Both companies regularly buy back stock and have drastically reduced their share counts over time -- which has accelerated earnings growth.

Visa is a high-margin cash cow of a business, with international exposure and a rock-solid balance sheet. It is the undisputed industry leader and is frequently cited as being the most accepted card brand worldwide, with the most credit and debit cards in circulation.

Companies as high quality as Visa rarely go on sale. But right now, investors can buy Visa at a multi-year low valuation.

All told, Visa is the kind of stock that will appeal to dividend, value, and growth stock investors alike, making it a foundational holding worthy of building a portfolio around in 2026.

JPMorgan Chase is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. Daniel Foelber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase, Mastercard, and Visa. The Motley Fool has a disclosure policy.

NEW YORK, Feb. 21, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Ardent Health, Inc. (NYSE: ARDT) between July 18, 2024 and November 12, 2025, both dates inclusive (the “Class Period”), of the important March 9, 2026 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the Ardent Health class action, go to https://rosenlegal.com/submit-form/?case_id=50392 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 9, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made misrepresentations regarding Ardent Health’s accounts receivable. Defendants publicly reported Ardent Health’s accounts receivable on a quarterly basis. They further stated that Ardent Health employed an active monitoring process to determine the collectability of its accounts receivable, and that this process included “detailed reviews of historical collections” as a “primary source of information.” Further, defendants represented that Ardent Health considered “trends in federal and state governmental healthcare coverage” and that its “management determines [when an] account is uncollectible, at which time the account is written off.” When defendants began to reveal increased claim denials by third-party payors, they downplayed the issue, stating that the increased payor denials were “turning [] more into a slow pay versus not getting paid,” and did not write-off the uncollectible accounts. In addition, defendants represented that Ardent Health maintained professional malpractice liability insurance in amounts “sufficient to cover claims arising out of [its] operations[.]” In truth, Ardent Health did not primarily rely on “detailed reviews of historical collections” in determining collectability of accounts receivable nor did “management determine[] [when an] account is uncollectible.” Instead, Ardent Health’s accounts receivable framework “utilized a 180-day cliff at which time an account became fully reserved.” This allowed Ardent Health to report higher amounts of accounts receivable during the Class Period, and delay recognizing losses on uncollectable accounts. And Ardent Health did not even maintain professional malpractice liability insurance in amounts “sufficient to cover claims arising out of [its] operations[.]” In truth, Ardent Health’s professional liability reserves were insufficient to cover “significant social inflationary pressure in medical malpractice cases the past several years,” which had been an “increasing dynamic year-over-year” in Ardent Health’s New Mexico market. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Ardent Health class action, go to https://rosenlegal.com/submit-form/?case_id=50392 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
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        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
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Copper and lithium are both commodities tied to powerful economic trends like electrification, renewable energy, and data center investment, and these stocks are the best way to invest in them.

It's no secret that mining commodity prices, in this case copper and lithium, can be volatile, and it's hard to predict where they are heading. Still on the basis that current prices are the best estimate of where prices will be in a year or so, both Freeport-McMoRan (FCX +2.83%) and Albemarle (ALB 0.18%) look like unmissable value. Here's why.

Freeport-McMoRan and copper Ultimately, the idea is that both stocks have less downside potential than upside, making them good value stocks looking for asymmetric stock picks. Freeport-McMoRan looks like a great value for three reasons.

First, in every earnings presentation, the company lays out its earnings before interest, taxes, depreciation, and amortization (EBITDA) sensitivity to copper prices. The last update for EBITDA in 2027/2028 assumes $11 billion at a price of copper of $4 per pound, and $19 billion at a price of $6 per pound. Given that the current price is $5.66, a rough estimate would be $17.6 billion, and assuming the current enterprise value (EV) of $96.9 billion, Freeport would trade on an EV/EBITDA multiple of just 5.5 times in 2027 -- a historically very favorable valuation.

FCX EV to EBITDA data by YCharts

Second, as discussed elsewhere, Freeport is set to ramp up production in Indonesia over the next few years following a tragic accident last year.

Data source: Freeport-McMoRan presentations. Chart by author.

Third, the company's leaching initiative (a low-cost way to recover copper from existing stockpiles) continues to gain traction. Management has baked in an assumption of 250 million to 300 million pounds into its 2026 guidance (included in the chart above), but beyond that, it hasn't included the 400 million pounds it expects to hit in 2027, or anything else, as it ramps to 800 million pounds by 2030. As such, there's upside potential for the company's copper sales volumes, and given its already attractive valuation, Freeport is an excellent buy for investors comfortable with copper.

Image source: Getty Images.

Albemarle and lithium A big drop in lithium prices, caused by less investment in electric vehicles after the pandemic boom, led to a sharp decline in Albemarle's income starting in 2022. Consequently, the company reported losses in 2024 and 2025.

However, management didn't stand still and, having divested noncore businesses and cut costs, it's now positioned to benefit from the recent price pickup.

Like Freeport, Albemarle's valuation appears appealing given current lithium prices. In January, the average price of lithium carbonate equivalent (LCE) was $20 per kg. If this price holds through 2026, Albemarle could earn $2.4 billion to $2.6 billion in EBITDA. With a current EV of $23.5 billion, this would equate to an EV/EBITDA ratio of 9.4 for 2026.

It's a bit harder to see on the following chart, but it still represents an excellent value.

ALB EV to EBITDA data by YCharts

Moreover, the supply glut appears to have cleared, while electric vehicle investment is growing globally and lithium demand is being supported by surging demand from battery energy storage systems (BESS). It all points to a stock with plenty of upside potential in 2026.

AI has tanked the software industry, but there are some bargains among the rubble.

Investors can't seem to sell software stocks fast enough amid fears that artificial intelligence (AI) will ultimately disrupt and displace traditional software-as-a-service (SaaS) businesses.

Many of the top software companies have enjoyed lofty valuations for years, justified by wide tech stock moats that meant juicy profit margins, limited competition, and sticky recurring revenue. But AI could vaporize some of those advantages. AI can already extract information from documents and write code, and could soon begin replacing humans in various office tasks.

While AI is a genuine threat to some software companies, the relentless, widespread sell-off has mispriced some high-quality names. Here are two cheap tech stocks that investors should consider buying right now.

Image source: Getty Images.

1. ServiceNow Corporations will almost always invest in efficiency, which is how ServiceNow (NOW 2.89%) became one of the world's most prominent software companies. Its cloud-based technology enables enterprises to streamline, automate, and monitor various actions and workflows, such as submitting a support ticket to IT or assigning a customer complaint to the appropriate service rep.

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ServiceNow has aggressively leaned into AI, likely because AI agents are moving toward similar capabilities over time. Most companies would rather avoid uprooting systems that handle daily business activities, and proactively offering AI tools makes it less likely that a new competitor can come in and tempt companies to replace ServiceNow.

The stock now trades at just 25 times its forward earnings estimates following a 54% plunge from its highs. That's a compelling price for a leading software business that analysts still estimate will grow earnings by nearly 24% annually over the long term. ServiceNow's tumble may wind up looking like an obvious buying opportunity in hindsight.

2. Intuit Millions of people and businesses manage their credit, file their taxes, or run their businesses with Intuit (INTU 0.33%) apps. Those would include TurboTax, Credit Karma, QuickBooks, and Mailchimp. Intuit's stock has taken a beating in recent weeks, sliding more than 50% off its high. At a price-to-earnings ratio of just over 25, the valuation hasn't been anywhere near this low in more than 10 years. But is Intuit this cheap because of AI disruption? I don't think so, and here's why.

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Most of Intuit's products enjoy strong compliance and trust advantages. In other words, it's difficult to see many people trusting ChatGPT to file their taxes or manage their company's finances, because the AI isn't liable for mistakes, and errors can have severe consequences. As with ServiceNow, Intuit is trying to get ahead of AI disruption while it can still be an opportunity rather than a threat.

Intuit is proactively integrating AI into its existing products, using decades of first-hand data it has collected, to provide the best user experience possible. Now, the stock wouldn't have gotten this cheap if it were a certainty that AI couldn't affect the business. That said, worst-case scenarios seem quite unlikely here. Once these AI fears dissipate a bit from the market, Intuit stock could mount a ferocious and lucrative comeback.

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Midstream dividend ETFs are an underrated way to derive income from the stock market, mainly because Wall Street is still overlooking them. ETFs like the Alerian MLP ETF (NYSEARCA:AMLP), USCF Midstream Energy Income Fund (NYSEARCA:UMI), and Global X MLP ETF (NYSEARCA:MLP) have outperformed most classic income vehicles, and have sometimes done so with double the yield.

Midstream energy companies include pipeline operators and storage facility owners that transport oil and natural gas from production sites to refineries and end users. These companies are not exposed to the day-to-day swings of energy prices and instead operate on volume-based fees. This business model has allowed them to maintain generous dividend payments even during volatile energy markets while still delivering returns that have outpaced broader indexes.

North American midstream companies are becoming very successful post-2022 as the U.S. has turned into Europe’s largest source of energy. There’s plenty of oil flowing through pipelines, and the demand is sticky.

The following three midstream dividend ETFs are exactly why this sector deserves a closer look from income-focused investors.

Alerian MLP ETF (AMLP) The Alerian MLP ETF pays the highest yield among major midstream ETFs and is one of the largest funds in the sector. It is a capped, float-adjusted, capitalization-weighted index of energy infrastructure Master Limited Partnerships. These companies get most of their cash flow from midstream businesses.

AMLP has historically been a poor investment, especially in the 2010s, as energy businesses faced headwinds across the board. However, it has started the 2020s on a very strong note.

Its top 6 holdings get ~13% of the fund each, and all of them have performed well. The top holding is Energy Transfer LP (NYSE:ET), which is up 9.7% in just the past month alone.

AMLP’s strongest suit is the income. You get a 7.73% dividend yield. The expense ratio is 0.85%, which is on the higher end, but the yield more than makes up for it. Keep reinvesting that near-8% yield, and you could see your portfolio snowball significantly. There’s one drawback, though. The dividend payout frequency is quarterly.

USCF Midstream Energy Income Fund (UMI) The USCF Midstream Energy Income Fund is great if you want a monthly payout plus more capital gains. UMI is an actively managed ETF that can own both C‑corp midstream names and ultra-high-yield MLPs. This is why you get a somewhat lower headline cash yield of 5.65%. However, it is up nearly 12.2% in just the past month, so I expect strong performance on top of that yield. There’s plenty of overlap between UMI and AMLP, but this ETF gives its top 10 holdings lower concentrations.

You’re getting exposure to equities beyond just MLPs. UMI is the only major ETF you can buy that gets you a monthly yield north of 5% with solid midstream exposure.

The expense ratio is 0.69%.

Global X MLP ETF (MLPA) This is one of the most recognizable midstream ETFs out there. It’s the most suitable for you if you don’t like a high expense ratio and you’re willing to sacrifice a little bit of yield for a lower expense ratio. You get a 7.28% dividend yield, a quarterly dividend payout, and a roster of holdings that are hard to tell apart from those of AMLP’s.

So, what’s the difference? Why buy this and not AMLP?

I’d argue both are what buying. But if you want maximum simplicity, scale, and liquidity and are comfortable with a heavier tax drag baked into the vehicle, AMLP is the older, larger product with a long, well‑documented track record and a slightly higher nominal yield.

If you care more about minimizing effective costs and getting closer to index tracking in a C‑corp MLP wrapper, MLPA’s lower headline fee and somewhat leaner structure make it the more cost‑efficient choice on paper, with a still‑high but slightly lower distribution yield.

The expense ratio is just 0.45%.

This cloud-based software provider serves organizations worldwide with modular tools for work management and collaboration.

On February 13, 2026, Whetstone Capital Advisors, LLC disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold out its entire position in monday.com Ltd. (MNDY 0.55%).

What happenedAccording to a filing with the Securities and Exchange Commission dated February 13, 2026, Whetstone Capital Advisors, LLC reported selling all 79,172 shares of monday.com Ltd. during the fourth quarter. The estimated value of the shares sold was approximately $15.33 million, calculated using the average price for the period. The quarter-end position value decreased by $15.33 million, reflecting both the share disposition and price movement.

What else to knowTop holdings after the filing:NASDAQ: DAVE: $60.21 million (18.8% of AUM)NYSE: NET: $57.77 million (18.0% of AUM)NASDAQ: GOOGL: $41.29 million (12.9% of AUM)NASDAQ: AMZN: $21.49 million (6.7% of AUM)NASDAQ: OPRX: $18.49 million (5.8% of AUM)As of February 12, 2026, shares of monday.com Ltd. were priced at $73.63, down 76.8% over the past year, underperforming the S&P 500 Index by 89.7 percentage pointsCompany overviewMetricValuePrice (as of market close February 12, 2026)$73.63Market capitalization$3.80 billionRevenue (TTM)$1.23 billionNet income (TTM)$118.74 millionCompany snapshotOffers a cloud-based Work OS platform with modular applications for work management, project tracking, CRM, and software development.Serves organizations of all sizes globally, including enterprises, educational institutions, government bodies, and business units.Headquartered in Tel Aviv, Israel, with a global customer base and a focus on scalable SaaS solutions.monday.com Ltd. is a technology company specializing in cloud-based work management solutions, enabling organizations to streamline workflows and enhance collaboration. With a scalable SaaS platform and a global customer base, the company leverages modular product offerings to address diverse operational needs.

What this transaction means for investorsmonday.com was the largest of the 12 positions that Whetstone Capital closed out in the fourth quarter of 2025.

As with most filings, the fund did not explain its decision. However, the sale follows a trend against SaaS stocks that have an unclear position in the marketplace (if they have a position at all) as artificial intelligence (AI) replaces their functions at a substantially lower cost.

Additionally, monday.com was over 4% of Whetstone’s fund in Q3, meaning it sustained a substantial hit as the stock’s price cratered over the last year.

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Investors should not take this sale as a sign that Whetstone has abandoned technology stocks. A large number of the 54 stocks in the fund are tied to the tech industry. Also, it opened a position in the fintech stock Block in Q4.

Nonetheless, AI is undoubtedly going to change the tech industry and many other businesses. Until the nature of the changes becomes more apparent, it is likely that Whetstone’s decision to sell was a prudent one.

Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Block, Cloudflare, and Monday.com. The Motley Fool has a disclosure policy.

NEW YORK, Feb. 21, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of purchasers of common stock of Oracle Corporation (NYSE: ORCL) between June 12, 2025, and December 16, 2025, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 6, 2026.

SO WHAT: If you purchased Oracle common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Oracle class action, go to https://rosenlegal.com/submit-form/?case_id=51135 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 6, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Oracle’s AI infrastructure strategy would result in massive increases in capital expenditures (“CapEx”) without equivalent, near-term growth in revenue; (2) Oracle’s substantially increased spending created serious risks involving Oracle’s debt and credit rating, free cash flow, and ability to fund its projects, among other concerns; and (3) as a result, defendants’ representations about Oracle’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Oracle class action, go to https://rosenlegal.com/submit-form/?case_id=51135 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

Marathon's midstream income covers the dividend even if refining margins cool.

Marathon Petroleum (MPC +0.15%), the largest independent U.S. refiner, is up 21% this year after fourth-quarter adjusted earnings of $4.07 per share crushed analyst expectations. Refining margins did the heavy lifting, with the company capturing 114% of the benchmark crack spread, up from 96% in the third quarter. That drove cash from operations to $2.7 billion, nearly 60% above the prior year.

During the year, Marathon returned $4.5 billion to shareholders through a combination of share repurchases and dividends. The cash return story, though, is getting stronger from here, and it doesn't need peak margins to hold.

A two-pronged cash flow model The company runs on two profit engines. MPLX LP (MPLX +1.59%), its midstream subsidiary, owns pipelines and processing plants that generate fee-based income moving natural gas and liquids from wellhead to market.

The refining segment processes over 3 million barrels per day across three regions, turning crude into gasoline, diesel, and jet fuel. Refiners measure their execution against a benchmark crack spread, the theoretical margin from processing a barrel of crude. Oil prices have pulled back while refined fuel demand has held up, widening that spread.

Marathon's refining margin hit $18.65 per barrel in the fourth quarter, up 44% year over year. Valero (NYSE: VLO) managed just $13.61 over the same period.

Image source: Getty Images.

The other half of Marathon's story runs through MPLX, where the distributions don't swing with crack spreads. That's what separates Marathon from a pure refiner. MPLX distributions to Marathon are set to exceed $3.5 billion annually over the next two years, up from $2.8 billion.

That income stream alone covers the dividend and base capital spending, while the refining segment's cash flow goes toward buybacks. On the fourth-quarter call, management said it expects the repurchase pace to hold this year, with $4.4 billion in buyback authorization still on the books.

What margins need to do next The primary risk is that Q4's refining margin is cyclically elevated. If crack spreads compress, it would hit the refining segment first, and it accounts for roughly half of the company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).

Management sees tight global refining supply and steady distillate demand into 2026. Regional closures, including a California refinery this spring, further tighten the domestic market.

The stock currently sits around $200 per share, with a 1.9% dividend yield. At about 7.4 times trailing EBITDA and roughly 15 times forward earnings, Marathon is fairly valued for a refiner with this much midstream stability. How margins hold through 2026, as new Asian refining capacity comes online, is the one variable worth watching.

Energy Transfer offers an attractive yield.

The S&P 500 got off to a decent start during the first month of the year, with the index gaining 1.4%. And the energy sector had a particularly strong performance, increasing 14.4% during the month -- and adding about 40 basis points to the S&P 500's appreciation.

Of course, certain stocks in the sector performed better than others. Here's how midstream company Energy Transfer's (ET +0.42%) units performed in January and a look at the master limited partnership's underlying business to assess its prospects.

Image source: Getty Images.

The month's performance During January, Energy Transfer's units appreciated 11.9%. That may seem disappointing given the energy sector's 14.4% performance, but the company has some positive things going for it. As a midstream energy company, Energy Transfer's revenue isn't as reliant on natural gas and crude oil prices as upstream companies are. Those companies explore and produce the commodities, making them very sensitive to prices.

But Energy Transfer operates pipelines that transport gas and oil, along with storing those products. That means it relies on the flow of these commodities more than the underlying price. It also has contracts and receives fees to process and store oil and gas, providing another measure of stability.

Factoring in distributions Energy Transfer's unit price appreciation isn't the only factor investors should consider. The company has raised its distributions every quarter for the last several years. That includes boosting December's payout from $0.3325 to $0.335 per unit.

Over the past year, through Feb. 12, the units lost 4.7%. However, after factoring in dividends, they produced a total return of 0.3%. At the current distribution rate, Energy Transfer yields 7.3%. That dwarfs the S&P 500's 1.2% yield.

Of course, Energy Transfer isn't completely immune to major events, like the COVID-19 pandemic. In 2020, it halved the quarterly distribution rate. But those were extraordinary times.

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Presently, the company has plenty of cash flow to pay its distributions. During the first nine months of 2025, it produced $8.2 billion in adjusted distributable cash flow compared to the $4.6 billion in distributions to unit holders. Adjusted distributable cash flow is a key measure of a master limited partnership's ability to pay distributions.

Given its cash flow and yield, income-focused investors looking for a relatively stable company in the energy sector should find Energy Transfer attractive. Combined with potential price appreciation, owning the units could produce a nice total return.

SAN DIEGO--(BUSINESS WIRE)--Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Enphase Energy, Inc. (NASDAQ: ENPH) securities between April 22, 2025 and October 28, 2025, both dates inclusive (the “Class Period”), have until April 20, 2026 to seek appointment as lead plaintiff of the Enphase Energy class action lawsuit. Captioned Tripathi v. Enphase Energy, Inc., No. 26-cv-01380 (N.D. Cal.), the Enphase Energy class action lawsuit charges Enphase Energy and certain of Enphase Energy’s top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Enphase Energy class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-enphase-class-action-lawsuit-enph.html

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: Enphase Energy, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry.

The Enphase Energy class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Enphase Energy overstated its ability to manage its channel inventory; (ii) Enphase Energy overstated its ability to mitigate effects arising from the termination of the Residential Clean Energy Credit pursuant to Internal Revenue Code Section 25D (the “25D Credit”); and (iii) accordingly, Enphase Energy overstated its financial and operational prospects.

The Enphase Energy class action lawsuit further alleges that on October 28, 2025, Enphase Energy reported its financial results for the third quarter of 2025, disclosing that it expected elevated channel inventory to result in lower battery storage shipments in the fourth quarter of 2025, and that the expiration of the 25D Credit would negatively impact revenues for the first quarter of 2026. On this news, the price of Enphase Energy stock fell more than 15%, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Enphase Energy securities during the Class Period to seek appointment as lead plaintiff in the Enphase Energy class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Enphase Energy investor class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Enphase Energy shareholder class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Enphase Energy class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.

SAN DIEGO--(BUSINESS WIRE)--Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of PayPal Holdings, Inc. (NASDAQ: PYPL) common stock between February 25, 2025 and February 2, 2026, both dates inclusive (the “Class Period”), have until April 20, 2026 to seek appointment as lead plaintiff of the PayPal class action lawsuit. Captioned Goodman v. PayPal Holdings, Inc., No. 26-cv-01381 (N.D. Cal.), the PayPal class action lawsuit charges PayPal and certain of PayPal’s top current and former executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the PayPal class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-paypal-holdings-class-action-lawsuit-pypl.html

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: PayPal operates a technology platform that enables digital payments for merchants and consumers.

The PayPal class action lawsuit alleges that defendants throughout the Class Period created the false impression that they possessed reliable information pertaining to PayPal’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, PayPal’s optimistic plan for growth through various initiatives to bolster PayPal’s Branded Checkout offerings fell short of reality as the 2027 targets were not achievable under the tenure of defendant James Alexander Chriss as CEO; they required both an unrealistically stable consumer landscape and strong execution with clear direction from PayPal and its management, the complaint alleges.

The PayPal class action lawsuit further alleges that on February 3, 2026, PayPal announced its financial results for the fourth quarter and full fiscal year 2025, disclosing disappointing earnings results with worsening performance in Branded Checkout and the withdrawal of its 2027 financial targets provided one year before. PayPal allegedly attributed its results and lowered guidance to a combination of macroeconomic factors, competition, and “‘operational and deployment issues’ across all regions.” The complaint alleges that PayPal also revealed the transition of its CEO, defendant James Alexander Chriss. On this news, the price of PayPal common stock fell more than 20%, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired PayPal common stock during the Class Period to seek appointment as lead plaintiff in the PayPal class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the PayPal investor class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the PayPal shareholder class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the PayPal class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.

SAN DIEGO--(BUSINESS WIRE)--Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Kyndryl Holdings, Inc. (NYSE: KD) publicly traded securities between August 7, 2024 and February 9, 2026, both dates inclusive (the “Class Period”), have until April 13, 2026 to seek appointment as lead plaintiff of the Kyndryl class action lawsuit. Captioned Brander v. Kyndryl Holdings, Inc., No. 26-cv-00782 (E.D.N.Y.), the Kyndryl class action lawsuit charges Kyndryl as well as certain of Kyndryl’s top current and former executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Kyndryl class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-kyndryl-holdings-inc-class-action-lawsuit-kd.html

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: Kyndryl operates as a technology services company and IT infrastructure services provider.

The Kyndryl class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Kyndryl’s financial statements issued during the Class Period were materially misstated; (ii) Kyndryl lacked adequate internal controls and at times materially understated issues with its internal controls; and (iii) as a result, Kyndryl would be unable to timely file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2025.

The Kyndryl class action lawsuit further alleges that on February 9, 2026, Kyndryl filed a Notification of Late Filing on Form 12b-25 announcing it would be unable to file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2025 within the necessary time. Kyndryl also allegedly disclosed that: “The Company, through the Audit Committee of its Board of Directors, is reviewing its cash management practices, related disclosures (including regarding the drivers of the Company’s adjusted free cash flow metric), the efficacy of the Company’s internal control over financial reporting, and certain other matters following the Company’s receipt of voluntary document requests from the Division of Enforcement of the Securities and Exchange Commission (“SEC”) relating to such matters,” and that “the Company anticipates reporting material weaknesses in the Company’s internal control over financial reporting for the period covered in the Quarterly Report, as well as for the full fiscal year ended March 31, 2025, and the first two fiscal quarters of fiscal year 2026, which are expected to include, but may not be limited to, the effectiveness and strength of certain functions at the Company, including with respect to controls related to information and communication and tone at the top.” Kyndryl further revealed that “David Wyshner departed from his position as Chief Financial Officer of the Company, and Edward Sebold departed from his position as General Counsel of the Company, effective immediately. In addition, on the same date, Vineet Khurana stepped down from his position as Senior Vice President and Global Controller of the Company and assumed a different role at the Company,” the complaint alleges. On this news, the price of Kyndryl stock fell 55%, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Kyndryl publicly traded securities during the Class Period to seek appointment as lead plaintiff in the Kyndryl class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Kyndryl investor class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Kyndryl shareholder class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Kyndryl class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.

NEW YORK, Feb. 21, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Ramaco Resources, Inc. (NASDAQ: METC) between July 31, 2025 and October 23, 2025, both dates inclusive (the “Class Period”), of the important March 31, 2026 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the Ramaco class action, go to https://rosenlegal.com/submit-form/?case_id=52081 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 31, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) defendants had not commenced any significant mining activity at the Brook Mine after groundbreaking; (2) no active work was taking place at the Brook Mine; (3) as a result, Ramaco overstated development progress at the Brook Mine; and (4) as a result of the foregoing, defendants’ positive statements about Ramaco’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Ramaco class action, go to https://rosenlegal.com/submit-form/?case_id=52081 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

NEW YORK, Feb. 21, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Picard Medical, Inc. (NYSE American: PMI) between September 2, 2025 and October 31, 2025, inclusive (the “Class Period”), of the important April 13, 2026 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the Picard Medical class action, go to https://rosenlegal.com/submit-form/?case_id=52263 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Picard’s business, operations, and the true nature of its securities trading throughout the Class Period. Specifically, defendants failed to disclose to investors that: (1) Picard was the subject of a fraudulent stock promotion scheme involving social media-based misinformation and impersonated financial professionals; (2) insiders and/or affiliates used offshore or nominee accounts to facilitate the coordinated dumping of shares during a price inflation campaign; (3) Picard’s public statements and risk disclosures omitted any mention of the false rumors and artificial trading activity driving the stock price; and (4) as a result of the foregoing, defendants’ positive statements about Picard’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

To join the Picard Medical class action, go to https://rosenlegal.com/submit-form/?case_id=52263 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

The pharma industry's dreaded patent cliff is a key driver of the stock's decline.

Pharmaceutical companies spend a ton of money on developing new drugs. Most fail, but those that win regulatory approval and reach the market can generate billions of dollars in sales, all while patents bar competitors from copying them. Patents last for years, but they eventually expire.

At that point, a drug's sales plummet once generic copies become available to patients. This is often called the "patent cliff." It's why innovation is so essential for pharmaceutical stocks: Their companies must continually develop and bring new products to market to survive, let alone grow.

Bristol Myers Squibb (BMY +0.60%) is trading more than 25% off its high due to a steep patent cliff the company faces. Should you buy the dip?

Image source: Getty Images.

Investors face a real cliff-hanger, but there's hope Patent cliffs are typical of the industry, but Bristol Myers Squibb faces an abnormally steep one. Generic competition caused Revlimid sales to decline by 48.9% to $2.9 billion in 2025, while Sprycel sales dipped 61.7% to $493 million. More pressing is the looming patent expiration of top sellers Eliquis and Opdivo, which combined for $24.4 billion in sales in 2025, roughly half of total revenue. Those drugs will lose U.S. patent protection between 2027 and 2029, paving the way for generics shortly thereafter.

Bristol Myers Squibb has a growth portfolio of rising drugs, which, excluding Opdivo, grew sales roughly 23% to $16.3 billion in 2025. Cobenfy is a groundbreaking antipsychotic drug for schizophrenia that launched in late 2024. It's now in a phase 3 study for treating psychosis related to Alzheimer's disease. Results are due in 2026, and if ultimately approved, the drug would be the first of its kind. Analysts estimate that Cobenfy could hit annual sales of $3.4 billion by 2030 if it wins approval from the Food and Drug Administration (FDA).

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Why buying the dip could work out well For now, the patent cliff is a slow slide, not a plunge. Analysts' estimates call for sales to decline from $48.2 billion in 2025 to $45.2 billion by the end of 2027. Analysts believe earnings will be flat in 2026.

Yet there's much to like here. Bristol Myers Squibb will pay you a nice dividend, currently 4.2%. The dividend costs less than half of earnings, so it's pretty safe and can endure even a sizable contraction in the business. Also, Wall Street is already very aware of the patent cliff; the stock trades at less than 10 times this year's earnings estimates. There are still risks, such as the possibility that Cobenfy fails its phase 3 study. But from a valuation standpoint, the stock definitely reflects reality.

If Bristol Myers Squibb succeeds with Cobenfy for Alzheimer's, there could be enough growth to replace the eventual lost sales from Eliquis and Opdivo, and perhaps even continue growing the business. The stock's valuation would likely rise along the way on positive sentiment, and investors would still be cashing those dividend checks.

If you're looking to swing big over a five-year time frame, consider buying the dip on Bristol Myers Squibb.

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The market is starting to flood back into defensive and Dividend Aristocrat stocks before the economic pendulum swings the other way. The good news is that you’d still be ahead of the herd if you accumulate stocks like Brown-Forman (NYSE:BF.A, NYSE:BF.B). You probably haven’t heard of that name in a long time.

Brown-Forman is the largest American-owned global spirits company. It sells whiskey, bourbon, tequila, rum, gin, and more. Its crown jewel is Jack Daniel’s Tennessee Whiskey, one of the most recognizable spirit brands on the planet, but the portfolio also includes Woodford Reserve, Old Forester, Herradura, el Jimador, Diplomático Rum, Gin Mare, and GlenDronach Scotch.

You’re looking at a company commanding an estimated 34% of the total U.S. Whiskey & Bourbon Distilleries industry revenue.

The lengthy maturation process for aged whiskey creates a massive barrier to entry for competitors, and Brown-Forman controls its entire value chain from production to distribution.

The best time to accumulate is now The stock is off by 64% from its 2020 peak and is showing signs of bottoming out.

But why did it decline in the first place?

The single biggest factor is that Brown-Forman was absurdly overvalued heading into 2020. The stock traded at nosebleed multiples that priced in perpetual premium growth, and when reality didn’t cooperate, gravity took over. From there, a cascade of problems hit. Demand weakened, and tariff chaos made it even worse, along with other overlapping problems like GLP-1 and the trend of consumers trading up to higher-end spirits.

However, in 2026, BF-B stock is now too undervalued. Investors who sold earlier have yet to look back. I see an opportunity in the meantime. You’re paying just 17 times earnings for this stock. Historically, the median price-earnings ratio has been 34 times.

Things are yet to turn rosy I will admit that the 3-year revenue growth rate has been anemic at less than 1% annually. The 3-year free cash flow growth rate is even worse at -18.1% annually. High CapEx and a high-interest-rate environment pressured cash flow. Net interest losses were at $105 million last year.

I do believe that the worst is behind us.

The business has gotten considerably leaner.

Here’s what Brown-Forman reported for FY 2024.

Here’s last year.

Notice how the business managed to generate significantly higher free cash flow despite a decrease in operating cash flow. This was possible due to CapEx finally starting to come down.

I believe a lot more progress is possible on this front. In FY 2019, for example, CapEx was just $121 million, and the company managed to post $679 million in FCF from just $800 million in operating cash flow. This wasn’t a one-off and was the case before 2022.

Starting in 2023, the business started taking on excessive bloat, with debt servicing making it worse.

I see upside ahead, plus the dividends The business right now is in a stable state, albeit stagnant. Yes, it is no longer in its growth phase, but it is churning out profits with a 21% net margin. The historical net margin is near 23%.

What needs to be worked on is the growth and the bloat. The latter is being taken care of, and I expect growth to slowly return as interest rate cuts come and tariff ripples stabilize.

I see at least a 25-30% upside potential from here by next year. This is because the valuation is low, and the stock could easily trade at over 25 times earnings once dividend stocks become sexier.

A 25x earnings premium on top of earnings estimates gives us a price above $40.

My rationale for an increase in Brown-Forman’s price isn’t coming just from sensing the market’s “vibe”. The dividend yield of just 3% is not something an investor is going to find interesting when Treasuries yield ~4% on average. But as interest rates come down, so will Treasury yields. This business will get a growth boost, and investors will re-evaluate the dividend yield’s worth much higher.

And the icing on the cake is that the dividends have a lot of growth left. This company spends 49% of its earnings on dividends. It also does share buybacks, which have pushed the shareholder yield to an effective 6.58%. With a 42-year streak of increasing dividends, it’s impressive that there’s still massive room left for more increases.

NEW YORK, Feb. 21, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of GSI Technology Inc. (NASDAQ: GSIT) resulting from allegations that GSI Technology may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased GSI Technology securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=52527 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On February 3, 2026, a post was issued on Stockwits in which it stated that “GSI is almost certainly hiding that their chip did not run Gemma-3 at all, only the pre-generation RAG phase. APU lack the MAC units required for matrix multiplication, which is critical for AI workloads.”

On this news, GSI Technology’s stock price fell $1.08 per share, or 14.2%, to close at $6.52 per share on February 4, 2026.

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

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

James Ding Feb 21, 2026 17:30

Elemental Royalty Corporation becomes first publicly traded gold firm to pay dividends in Tether Gold, marking major milestone for tokenized real-world assets.

A publicly traded gold company will now pay shareholders in tokenized gold rather than cash—a first for the precious metals industry. Elemental Royalty Corporation announced on February 17 that investors can elect to receive dividends denominated in Tether Gold (XAU₮), connecting traditional equity ownership directly to physical gold through blockchain rails.

The move matters because it demonstrates tokenized commodities can function within existing corporate finance structures, not just as trading instruments. Shareholders opting for XAU₮ dividends receive exposure to actual gold bars sitting in secure vaults rather than fiat currency that loses purchasing power.

Why Gold Companies Are WatchingGold royalty firms generate revenue from production without operating mines themselves—a model that already appeals to investors seeking gold exposure with less operational risk. Adding tokenized dividend options extends that thesis further.

"Gold has always been one of the most trusted stores of value in the world, yet integrating it directly into modern financial distribution models has been difficult," said Paolo Ardoino, Tether's CEO. "Using XAU₮ for shareholder dividends changes that dynamic completely."

Each XAU₮ token represents one troy ounce of physical gold on a London Good Delivery bar, stored in secure vaults with unique serial numbers. Holders can redeem tokens for physical bars delivered in Switzerland—though most will likely prefer the liquidity of keeping tokens on Ethereum or TRON.

Tether's Broader Gold PushThis dividend announcement follows Tether's $150 million strategic investment in Gold.com on February 6, aimed at integrating XAU₮ for purchasing physical gold. The company has publicly stated ambitions to become "one of the world's largest gold central banks," targeting institutional and sovereign adoption.

XAU₮ currently trades around $5,091 with a market cap of $2.65 billion, up 1.59% over 24 hours as of February 21. The token launched in 2020 and has steadily grown as investors seek inflation hedges that don't require physical storage logistics.

What Traders Should ConsiderThe Elemental dividend structure creates an interesting arbitrage consideration. Shareholders receiving XAU₮ get gold price exposure plus blockchain liquidity, while cash dividend recipients take currency risk. During periods of dollar weakness or gold rallies, the XAU₮ option could meaningfully outperform.

For the broader tokenized asset market, this sets precedent. If gold royalty companies can pay tokenized dividends, energy firms could theoretically pay in tokenized oil, REITs in tokenized property shares. The infrastructure proof-of-concept matters more than this single company's dividend policy.

Watch for other gold-focused public companies to announce similar programs in coming months. Once one firm proves the regulatory and operational pathway works, followers typically emerge quickly.

Image source: Shutterstock

tether gold xau₮ tokenized gold dividends real-world assets

U.S. President Donald Trump announced a 15% worldwide tariff on imported goods, despite an earlier Supreme Court decision that invalidated earlier trade actions. Updated Feb 21, 2026, 4:57 p.m. Published Feb 21, 2026, 4:43 p.m.

(Nikhilesh De/CoinDesk)

What to know: The price of bitcoin is seeing a slight decline after the announcement of increased global tariffs.U.S. President Donald Trump announced a 15% worldwide tariff on imported goods.That new 15% tariff represents an escalation from the previously announced 10%, despite the Supreme Court's previous decision.The price of bitcoin BTC$68,538.32 fell slightly on Saturday after U.S. President Donald Trump announced an additional increase to global tariffs, despite a U.S. Supreme Court decision that invalidated earlier trade actions under the International Emergency Economic Powers Act (IEEPA).

In a post on Truth Social, Trump called the court’s decision “anti-American” and declared that, effective immediately, he was raising the previously announced worldwide tariff to 15%.

STORY CONTINUES BELOW

“During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs,” the president added.

The price of bitcoin reacted quickly to the post, seeing an initial uptick of around 0.5% before losing nearly 1% of its value, reacting to the development. BTC is now trading at $68,000. Ether is down 0.45% since the announcement to $1,980.

(CoinDesk)

The tariff hike comes just after the U.S. Supreme Court decided that Trump didn't have the power to impose tariffs as he did earlier in the year. Reacting to that decision, Trump announced he was ordering a neew 10% global tariff, which is now being hiked to 15%.

Read more: U.S. Supreme Court's decision on Trump's tariffs may not rock crypto — yet

More For You

Bitcoin echoes 'late 2022' bear market bottom, K33 says

1 hour ago

The current levels offer an attractive entry for long-term investors, even if their patience will be tested, Vetle Lunde said.

What to know:

Bitcoin is in a late-stage bear market phase similar to late 2022, K33 analyst Vetle Lunde said.Trading activity and derivatives metrics show a thorough flush of speculative excess, while sentiment gauges such as the Crypto Fear and Greed Index have plunged to extreme fear levels.Still, bitcoin is likely to stay rangebound between $60,000 and $75,000 for an extended period, creating a potentially attractive but patience-testing accumulation zone for long-term investors, Lunde said.Top Stories

Journalist

Posted: February 21, 2026

Bitcoin [BTC] opened 2026 under intense pressure, shedding 23% from about $88,700 to near $68,000 within 50 days. This decline immediately set a bearish tone, while historical comparisons reinforced its anomaly. Only 2014’s Mt. Gox unwind exceeded this early-year weakness.

As turbulence persisted, market capitalization contracted 24%, sliding from approximately $1.76 trillion to $1.34 trillion. Institutional behavior compounded pressure, with $2.9 billion in ETF outflows and shrinking volumes.

Thereafter, macro catalysts, hawkish policy signals, and geopolitical stress sustained deleveraging, reinforcing a trend-led but liquidation-amplified downturn structure.

How Binance’s dominance amplified Bitcoin’s decline Bitcoin’s January decline aligned with a sharp contraction in Binance’s Open Interest (OI). As Binance OI fell from roughly $16 billion to near $ 6 billion, the price slid toward $68,000.

This synchronized drop highlights Binance’s structural weight in derivatives positioning. With 36% of Bitcoin Futures OI and up to 42% spot share, its flows anchor global liquidity.

Source: Joao Wedson/ X

As leverage unwound on Binance, forced liquidations accelerated volatility across venues. In contrast, Gate.io, the second-largest OI holder, showed a milder contraction, cushioning part of the systemic stress.

Source: Joao Wedson/ X

Even so, Binance’s dominance meant its positioning dictated broader sentiment. When traders reduced exposure there, risk appetite weakened market-wide.

Liquidity depth, supported by $45 billion in stablecoin reserves, typically stabilizes order books. However, during stress, concentrated positioning amplifies directional moves.

Thus, exchange competition shapes microstructure, yet Binance’s scale ultimately steers price discovery and participant behavior across the crypto ecosystem.

Binance’s cross-Exchange contagion  Binance’s deleveraging transmitted stress beyond its order books, setting off cross-exchange contagion. As liquidity tightened on the dominant venue, traders reduced exposure across Bybit, Bitget, and OKX.

That synchronized repositioning compressed the aggregate depth, while spreads widened across BTC and ETH pairs.

As funding conditions deteriorated, arbitrage channels destabilized, which fragmented pricing efficiency between platforms. Capital then rotated defensively, reinforced by stablecoin outflows seeking lower-risk custody.

As liquidity thinned, volatility expanded across the derivatives complex, reshaping participant behavior.

Historical precedent reinforced these contagion risks. During the October 10 flash crash, Bitcoin plunged to $75,600 within minutes, with critics attributing the cascade partly to Binance’s liquidity concentration.

In response, Binance issued a $400 million user refund initiative, framing the disruption as market-wide rather than platform-specific.

Thus, Binance’s scale strengthens price discovery during stability, yet during stress, its gravitational pull amplifies systemic transmission across the crypto ecosystem.

Final Thoughts A macro-led deleveraging wave drove Bitcoin’s sharpest early-year drawdown on record, amplified by volatility and institutional outflows.

Binance’s liquidity dominance synchronized cross-exchange unwinds, accelerating contagion and market-wide volatility transmission.