Market Signal Briefing

NEW YORK, Nov. 16, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Jasper Therapeutics, Inc. (NASDAQ: JSPR) between November 30, 2023 and July 3, 2025, both dates inclusive (the “Class Period”), of the important November 18, 2025 lead plaintiff deadline.

SO WHAT: If you purchased Jasper Therapeutics 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 Jasper Therapeutics class action, go to https://rosenlegal.com/submit-form/?case_id=45109 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 November 18, 2025. 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, defendants made false and/or misleading statements and/or failed to disclose that: (1) Jasper lacked the controls and procedures necessary to ensure that the third-party manufacturers on which it relied were manufacturing products in full accordance with cGMP regulations and otherwise suitable for use in clinical trials; (2) the foregoing failure increased the risk that results of ongoing studies would be confounded, thereby negatively impacting the regulatory and commercial prospects of Jasper’s products, including briquilimab; (3) the foregoing increased the likelihood of disruptive cost-reduction measures; (4) accordingly, Jasper’s business and/or financial prospects, as well as briquilimab’s clinical and/or commercial prospects, were overstated; and (5) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Jasper Therapeutics class action, go to https://rosenlegal.com/submit-form/?case_id=45109 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, Nov. 16, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Western Alliance Bancorporation (NYSE: WAL) resulting from allegations that Western Alliance Bancorporation may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Western Alliance Bancorporation 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=46349 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 October 16, 2025, Western Alliance Bancorporation disclosed that it had initiated a lawsuit against a borrower, Cantor Group V LLC, alleging fraud related to collateral loans.

On this news, Western Alliance Bancorporation’s stock fell 10.88% on October 16, 2025.

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 the largest ever securities class action settlement against a Chinese Company at the time. At the time 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

NEW YORK, Nov. 16, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of RCI Hospitality Holdings, Inc. (NASDAQ: RICK) between December 15, 2021 and September 16, 2025, both dates inclusive (the “Class Period”), of the important November 20, 2025 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased RCI Hospitality 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 RCI Hospitality class action, go to https://rosenlegal.com/submit-form/?case_id=44953 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 November 20, 2025. 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, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) defendants engaged in tax fraud; (2) defendants committed bribery to cover up the fact that they committed tax fraud; (3) as a result, defendants understated the legal risk facing RCI Hospitality; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the RCI Hospitality class action, go to https://rosenlegal.com/submit-form/?case_id=44953 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 or 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

, /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), a leading Chinese online media platform and game business group, today reported unaudited financial results for the third quarter ended September 30, 2025.

Third Quarter Highlights

Total revenues were US$180 million, up 19% year-over-year and 43% quarter-over-quarter.
Marketing services revenues were US$14 million, down 27% year-over-year and 13% quarter-over-quarter.
Online game revenues were US$162 million, up 27% year-over-year and 53% quarter-over-quarter.
GAAP net income attributable to Sohu.com Limited was US$9 million, compared with a net loss of US$16 million in the third quarter of 2024 and a net loss of US$20 million in the second quarter of 2025.
Non-GAAP[1] net income attributable to Sohu.com Limited was US$9 million, compared with a net loss of US$12 million in the third quarter of 2024 and a net loss of US$20 million in the second quarter of 2025.

Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, "In the third quarter of 2025, our marketing services revenues were in line with our guidance, while both our online game revenues and our bottom-line performance, benefiting from our continuous efforts in the gaming business, were well above our prior expectations. We recorded positive net income this quarter. For the Sohu media platform, we continued to refine our products and integrate resources to better meet users' needs and enhance their experiences. Meanwhile, leveraging our product matrix and distinctive events, we remained committed to generating and distributing diversified premium content, and continuously energizing our platform. Our differentiated advantages and unique IP enabled us to further unlock monetization potential. For our online games, both new and established titles delivered outstanding performance, driven by our deep understanding of user needs and proven operational expertise."

[1] Non-GAAP results exclude share-based compensation expense; and interest expense recognized in connection with the one-time transition tax (the "Toll Charge") imposed by the U.S. Tax Cuts and Jobs Act signed into law on December 22, 2017 (the "U.S. TCJA"). Explanation of the Company's non-GAAP financial measures and related reconciliations to GAAP financial measures are included in the accompanying "Non-GAAP Disclosure" and "Reconciliations of Non-GAAP Results of Operation Measures to the Nearest Comparable GAAP Measures."

Third Quarter Financial Results

Revenues

Total revenues were US$180 million, up 19% year-over-year and 43% quarter-over-quarter.

Marketing services revenues were US$14 million, down 27% year-over-year and 13% quarter-over-quarter.

Online game revenues were US$162 million, up 27% year-over-year and 53% quarter-over-quarter. The increases were mainly due to the revenue contribution of our new PC game Tian Long Ba Bu ("TLBB"): Return, which was launched in July 2025, as well as increased revenue from TLBB PC that resulted from content updates and in-game promotional activities launched during the quarter.

Gross Margin

Both GAAP and non-GAAP gross margin were 81%, compared with 74% in the third quarter of 2024 and 78% in the second quarter of 2025.

Both GAAP and non-GAAP gross margin for the marketing services business were 10%, compared with 9% in the third quarter of 2024 and 17% in the second quarter of 2025.

Both GAAP and non-GAAP gross margin for online games were 87%, compared with 84% in the third quarter of 2024 and 86% in the second quarter of 2025.

Operating Expenses

GAAP operating expenses were US$132 million, up 5% year-over-year and 9% quarter-over-quarter. Non-GAAP operating expenses were US$131 million, up 5% year-over-year and 9% quarter-over-quarter.

Operating Profit/(Loss)

Both GAAP and non-GAAP operating profit were US$14 million, compared with an operating loss of US$13 million in the third quarter of 2024 and an operating loss of US$22 million in the second quarter of 2025.

Income Tax Expense

GAAP income tax expense was US$17 million, compared with income tax expense of US$15 million in the third quarter of 2024 and income tax expense of US$9 million in the second quarter of 2025.

Non-GAAP income tax expense was US$17 million, compared with income tax expense of US$11 million in the third quarter of 2024 and income tax expense of US$9 million in the second quarter of 2025.

Net Income/(Loss)

GAAP net income attributable to Sohu.com Limited was US$9 million, or net income of US$0.32 per fully-diluted American depositary share ("ADS," each ADS representing one Sohu ordinary share), compared with a net loss of US$16 million in the third quarter of 2024 and a net loss of US$20 million in the second quarter of 2025.

Non-GAAP net income attributable to Sohu.com Limited was US$9 million, or net income of US$0.33 per fully-diluted ADS, compared with a net loss of US$12 million in the third quarter of 2024 and a net loss of US$20 million in the second quarter of 2025.

Liquidity and Capital Resources

As of September 30, 2025, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.2 billion.

Supplementary Information for Changyou Results [2]

Third Quarter 2025 Operating Results

For PC games, total average monthly active user accounts[3] (MAU) were 2.7 million, an increase of 24% year-over-year and 15% quarter-over-quarter. Total quarterly aggregate active paying accounts[4] (APA) were 1.1 million, an increase of 27% year-over-year and 19% quarter-over-quarter. The year-over-year increases in MAU and APA were mainly from TLBB: Return, which was launched in July 2025, as well as the improved performance of TLBB PC, resulting from content updates and optimization launched during recent quarters. The quarter-over-quarter increases in MAU and APA were mainly from TLBB: Return.
For mobile games, total average MAU were 1.9 million, a decrease of 42% year-over-year and 4% quarter-over-quarter. Total quarterly APA were 0.3 million, a decrease of 72% year-over-year and 3% quarter-over-quarter. The year-over-year decreases in MAU and APA were mainly due to the natural decline of New Westward Journey, which was launched during the second quarter of 2024.

[2] "Changyou Results" consist of the results of Changyou's online games business and its 17173.com Website.

[3] Monthly active user accounts refers to the number of registered accounts that are logged in to these games at least once during the month.

[4] Quarterly aggregate active paying accounts refers to the number of accounts from which game points are utilized at least once during the quarter.

Third Quarter 2025 Unaudited Financial Results

Total revenues were US$163 million, an increase of 27% year-over-year and 53% quarter-over-quarter. Online game revenues were US$162 million, an increase of 27% year-over-year and 53% quarter-over-quarter.

Both GAAP and non-GAAP gross profit were US$141 million, compared with US$108 million for the third quarter of 2024 and US$92 million for the second quarter of 2025.

Both GAAP and non-GAAP operating expenses were US$54 million, an increase of 19% year-over-year and 31% quarter-over-quarter. The year-over-year and quarter-over-quarter increases were mainly due to an increase in marketing and promotional spending for our online games, as well as an increase in salary and benefits expenses.

GAAP operating profit was US$87 million, compared with US$62 million for the third quarter of 2024 and US$50 million for the second quarter of 2025.

Non-GAAP operating profit was US$88 million, compared with US$62 million for the third quarter of 2024 and US$51 million for the second quarter of 2025.

Recent Development

Under the previously-announced share repurchase program of up to US$150 million of the outstanding ADSs, Sohu had repurchased 7.6 million ADSs for an aggregate cost of approximately US$97 million as of November 13, 2025.

Business Outlook

For the fourth quarter of 2025, Sohu estimates:

Marketing services revenues to be between US$15 million and US$16 million; this implies an annual decrease of 15% to 20%, and a sequential increase of 10% to 18%.
Online game revenues to be between US$113 million and US$123 million; this implies an annual increase of 3% to 12%, and a sequential decrease of 24% to 30%. 
Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$25 million and US$35 million.

For the fourth quarter 2025 guidance, the Company has adopted a presumed exchange rate of RMB7.10=US$1.00, as compared with the actual exchange rate of approximately RMB7.15=US$1.00 for the fourth quarter of 2024, and RMB7.13=US$1.00 for the third quarter of 2025.

This forecast reflects Sohu's management's current and preliminary view, which is subject to substantial uncertainty.

Non-GAAP Disclosure

To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), Sohu's management uses non-GAAP measures of gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited and diluted net income/(loss) attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense and interest expense recognized in connection with the Toll Charge imposed by the U.S. TCJA. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

Sohu's management believes excluding share-based compensation expense and interest expense recognized in connection with the Toll Charge from the Company's non-GAAP financial measures is useful for itself and investors. Further, the impact of share-based compensation expense and interest expense recognized in connection with the Toll Charge could not be anticipated by management and business line leaders, and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As share-based compensation expense does not involve subsequent cash outflow and is not reflected in the cash flows at the equity transaction level, Sohu does not factor in its impact when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense and interest expense recognized in connection with the Toll Charge.

The non-GAAP financial measures are provided to enhance investors' overall understanding of Sohu's current financial performance and prospects for the future. A limitation of using non-GAAP gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited, and diluted net income/(loss) attributable to Sohu.com Limited per ADS excluding share-based compensation expense is that this expense has been and can be expected to continue to recur in Sohu's business. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented.

Notes to Financial Information

Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu's unaudited financial statements prepared in accordance with GAAP.

Safe Harbor Statement

This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu's next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu's reported U.S. dollar results; fluctuations in Sohu's quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in content and will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; and Sohu's reliance on marketing services and online games for its revenues. Further information regarding these and other risks is included in Sohu's annual report on Form 20-F for the year ended December 31, 2024, and other filings with and information furnished to the SEC.

Conference Call and Webcast 

Sohu's management team will host a conference call at 7:30 a.m. U.S. Eastern Time, November 17, 2025 (8:30 p.m. Beijing/Hong Kong time, November 17, 2025) following the quarterly results announcement. Participants can register for the conference call by clicking here, which will lead them to the conference registration website. Upon registration, participants will receive details for the conference call, including the dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu's website at https://investors.sohu.com/.

About Sohu

Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China's internet pioneers, in the 1990s. Sohu operates one of the leading Chinese online media platforms and also engages in the online games business in the Chinese mainland. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of Sohu News App, Sohu Video App, the mobile portal m.sohu.com, the PC portal www.sohu.com, and the online games platform www.changyou.com/en/.

As a mainstream media platform with social features, Sohu is indispensable to the daily life of millions of Chinese, providing to a vast number of users a network of web properties and community based products, which offer a broad array of content such as news, information, text, picture, video, and live broadcasting. Sohu also attracts users to be highly engaged in content generation and distribution, and actively interact with each other on the platform. Sohu's online games business is conducted by its subsidiary Changyou which develops and operates a diverse portfolio of PC and mobile games, such as the well-known TLBB PC and Legacy TLBB Mobile.

For investor and media inquiries, please contact:

In China:

Ms. Pu Huang
Sohu.com Limited
Tel: +86 (10) 6272-6645
E-mail: [email protected]

In the United States:

Ms. Linda Bergkamp
Christensen
Tel: +1 (480) 614-3004
E-mail:  [email protected]

SOHU.COM LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

Three Months Ended

Sep. 30, 2025

Jun. 30, 2025

Sep. 30, 2024

Revenues:

    Marketing services

$

13,596

$

15,624

$

18,677

    Online games

162,036

105,994

127,721

    Others

4,529

4,649

5,594

Total revenues

180,161

126,267

151,992

Cost of revenues:

Marketing services

12,172

12,979

17,040

Online games

21,177

14,544

20,292

Others 

1,517

768

2,283

Total cost of revenues

34,866

28,291

39,615

Gross profit

145,295

97,976

112,377

Operating expenses:

Product development (includes share-based

compensation expense of nil, nil, and $6, respectively) 

61,820

58,824

62,231

Sales and marketing (includes share-based

compensation expense of $4, $1, and $9, respectively) 

49,699

48,545

48,494

General and administrative (includes share-based

compensation expense of $426, $352, and $29,

respectively)

20,196

12,922

14,692

Total operating expenses

131,715

120,291

125,417

Operating profit/(loss)

13,580

(22,315)

(13,040)

Other income, net

5,145

3,481

3,635

Interest income

7,140

7,570

9,074

Exchange difference

(563)

185

(988)

Income/(loss) before income tax expense

25,302

(11,079)

(1,319)

Income tax expense

16,636

8,937

15,028

Net income/(loss)

8,666

(20,016)

(16,347)

Net income/(loss) attributable to Sohu.com Limited

8,666

(20,016)

(16,347)

Basic net income/(loss) per share/ADS attributable to

Sohu.com Limited

$

0.32

$

(0.69)

$

(0.52)

Shares/ADSs used in computing basic net

income/(loss) per share/ADS attributable to Sohu.com

Limited[5]

27,491

28,826

31,729

Diluted net income/(loss) per share/ADS attributable

to Sohu.com Limited

$

0.32

$

(0.69)

$

(0.52)

Shares/ADSs used in computing diluted net

income/(loss) per share/ADS attributable to Sohu.com

Limited

27,491

28,826

31,729

[5] Each ADS represents one ordinary share.

SOHU.COM LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS 

(UNAUDITED, IN THOUSANDS)

As of Sep. 30, 2025

As of Dec. 31, 2024

ASSETS

Current assets:

           Cash and cash equivalents

$

133,961

$

159,927

           Short-term investments

740,605

744,498

           Accounts receivable, net

39,839

53,762

           Prepaid and other current assets 

85,568

83,575

Total current assets

999,973

1,041,762

Fixed assets, net

246,559

252,860

Goodwill 

47,115

46,944

Long-term investments, net

43,621

43,120

Intangible assets, net

5,686

7,695

Long-term time deposits

336,865

331,290

Other assets

10,776

10,995

Total assets

$

1,690,595

$

1,734,666

LIABILITIES 

Current liabilities:

           Accounts payable 

$

42,632

$

36,043

           Accrued liabilities

98,258

97,138

           Receipts in advance and deferred revenue

53,787

51,007

           Accrued salary and benefits

41,078

47,232

           Taxes payables

13,433

14,225

           Other short-term liabilities

76,436

76,322

Total current liabilities

$

325,624

$

321,967

Long-term other payables

3,270

2,807

Long-term tax liabilities

304,418

485,545

Other long-term liabilities

617

1,659

Total long-term liabilities

$

308,305

$

490,011

                         Total liabilities

$

633,929

$

811,978

SHAREHOLDERS' EQUITY:

          Sohu.com Limited shareholders' equity

1,056,322

922,335

          Noncontrolling interest

344

353

                     Total shareholders' equity

$

1,056,666

$

922,688

Total liabilities and shareholders' equity  

$

1,690,595

$

1,734,666

SOHU.COM LIMITED

RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES

(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

Three Months Ended Sep. 30, 2025

Three Months Ended Jun. 30, 2025

Three Months Ended Sep. 30, 2024

GAAP

Non- GAAP 

Adjustment

Non- GAAP

GAAP

Non- GAAP 

Adjustment

Non- GAAP

GAAP

Non-GAAP

Adjustment

Non- GAAP

-

(a)

-

(a)

-

(a)

Marketing services gross profit

$

1,424

$

-

$

1,424

$

2,645

$

-

$

2,645

$

1,637

$

-

$

1,637

Marketing services gross margin

10 %

10 %

17 %

17 %

9 %

9 %

-

(a)

-

(a)

-

(a)

Online games gross profit 

$

140,859

$

-

$

140,859

$

91,450

$

-

$

91,450

$

107,429

$

-

$

107,429

Online games gross margin

87 %

87 %

86 %

86 %

84 %

84 %

-

(a)

-

(a)

-

(a)

Others gross profit 

$

3,012

$

-

$

3,012

$

3,881

$

-

$

3,881

$

3,311

$

-

$

3,311

Others gross margin

67 %

67 %

83 %

83 %

59 %

59 %

-

(a)

-

(a)

-

(a)

Gross profit

$

145,295

$

-

$

145,295

$

97,976

$

-

$

97,976

$

112,377

$

-

$

112,377

Gross margin

81 %

81 %

78 %

78 %

74 %

74 %

Operating expenses

$

131,715

$

(430)

(a) $

131,285

$

120,291

$

(353)

(a) $

119,938

$

125,417

$

(44)

(a) $

125,373

430

(a)

353

(a)

44

(a)

Operating profit/( loss)

$

13,580

$

430

$

14,010

$

(22,315)

$

353

$

(21,962)

$

(13,040)

$

44

$

(12,996)

Operating margin

8 %

8 %

-18 %

-17 %

-9 %

-9 %

Income tax expense

$

16,636

$

-

$

16,636

$

8,937

$

-

$

8,937

$

15,028

$

(3,883)

(b)$

11,145

430

(a)

353

(a)

44

(a)

-

-

3,883

(b)

Net income/(loss) before non-

controlling interest

$

8,666

$

430

$

9,096

$

(20,016)

$

353

$

(19,663)

$

(16,347)

$

3,927

$

(12,420)

430

(a)

353

(a)

44

(a)

-

-

3,883

(b)

Net income/( loss) attributable to

Sohu.com Limited for diluted

net loss per share/ADS

$

8,666

$

430

$

9,096

$

(20,016)

$

353

$

(19,663)

$

(16,347)

$

3,927

$

(12,420)

Diluted net income/( loss) per

share/ADS attributable to 

Sohu.com Limited

$

0.32

0.33

$

(0.69)

(0.68)

$

(0.52)

(0.39)

Shares/ADSs used in computing

diluted net income/( loss) per

share/ADS attributable to 

Sohu.com Limited

27,491

27,491

28,826

28,826

31,729

31,729

Note:

(a) Share-based compensation expense

(b) Accrued interest expense in connection with the Toll Charge

SOURCE Sohu.com Limited

, /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it will hold its 2025 annual general meeting on Monday, December 29, 2025 at 10:00 a.m. (Beijing time) at 10F, No.1, Lane 1466, Shenchang Road, Minhang District, Shanghai, China, for the following purposes:

To re-elect Mr. Haiyun Cao as a director of the Company;
To re-elect Mr. Wing Keong Siew as an independent director of the Company;
To ratify the appointment of PricewaterhouseCoopers Zhong Tian LLP as auditors of the Company for the fiscal year of 2025;
To authorize the directors of the Company to determine the remuneration of the Company's auditors;
To authorize each of the directors of the Company to take any and all action that might be necessary to effect the foregoing resolutions as such director, in his or her absolute discretion, thinks fit;
To receive and consider the audited financial statements and the report of the auditors for the year ended December 31, 2024, and the report of the board of directors; and
To act upon such other matters as may properly come before our annual general meeting or any adjournment or postponement thereof.

Only shareholders of record at the close of business on November 28, 2025 (New York time) are entitled to receive notice of and to vote at the Company's annual general meeting or any adjournment or postponement thereof.

The notice of the Company's annual general meeting and the Company's 2024 Annual Report, containing the complete audited financial statements and the report of auditors for the year ended December 31, 2024, together with the report of the board of directors, are available on the Investor Relations Section of the Company's website at www.jinkosolar.com.

The Company will provide to all shareholders, upon request, a hard copy of the Company's 2024 Annual Report and the report of the board of directors free of charge.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar had over 10 productions facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of September 30, 2025.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: [email protected]

Mr. Rene Vanguestaine
Christensen
Tel: +86 178 1749 0483
Email: [email protected] 

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: [email protected] 

SOURCE JinkoSolar Holding Co., Ltd.

China's second-largest electric-vehicle maker reported a rise in its net profit supported by strong sales with 76,100 vehicles sold in the third quarter, up 43% from the previous year.

CoreWeave continues to grow revenue at a greater than 100% pace.

Few companies in the artificial intelligence (AI) sector are growing as quickly as CoreWeave (CRWV 1.35%) is. At its core, CoreWeave is a cloud computing business that specializes in artificial intelligence infrastructure.

With how in-demand AI computing capacity is right now, it's no surprise that CoreWeave is growing at an incredible pace and shows no signs of slowing down. Investors love to get in on that exciting growth, but is CoreWeave a smart investment option? Let's take a look.

Image source: Getty Images.

CoreWeave's growth rate is impressive
With how much money AI hyperscalers are spending on building AI computing capacity, investors are starting to get a bit wary about the potential return on these investments. Instead of building all of the AI computing capacity themselves, contracting out some of that work to a business like CoreWeave makes a lot of sense. The AI hyperscaler reduces its expense burden by paying for computing power from CoreWeave. This isn't as cost-effective as building a data center itself, but it allows for increased flexibility. This has allowed CoreWeave to capture some big-name clients, like Meta Platforms (META 0.09%), which inked a deal worth $14 billion.

CoreWeave's growth rates have been nothing short of incredible, and its results speak for themselves.

While the slowing growth rate may concern some investors, it's still more than doubling its revenue each quarter. That's a feat few companies ever achieve, placing CoreWeave in a unique position. However, there's one primary concern with CoreWeave: its profitability.

There's an old saying that you have to spend money to make money. That's true, but there's also a limit. CoreWeave is certainly toying with that limit, as there are questions surrounding the lifespan of this expensive computing equipment.

AI computing equipment doesn't last forever

Today's Change

(

-1.35

%) $

-1.06

Current Price

$

77.28

CoreWeave mostly buys Nvidia graphics processing units (GPUs) for its servers. When running for AI workloads, GPUs can have relatively short lifespans, with some estimates as low as one to three years. However, Nvidia's product launch cycle is also about one year, so the GPUs CoreWeave is buying now won't be the hottest technology even a few months later. This creates a continuous capital influx cycle that can be sustainable if CoreWeave is making a profit.

But that's not the case.

CoreWeave is rapidly improving its margin profile, but it's still unprofitable right now.

With the short lifespan of the GPUs it's buying, it's critical that CoreWeave becomes cash-flow-positive and stays that way. However, I don't see that happening anytime soon because it's planning on increasing its footprint.

But the opportunity may be there, as its revenue backlog has now reached $55.6 billion. About 40% of that is scheduled to be used over the next 24 months. So, if we divide it in half, that means CoreWeave should have about $11 billion in revenue over the next 12 months. It expects to generate about $5.1 billion for 2025, so this showcases its impressive growth continuing.

Right now, I'm not interested in CoreWeave because of its unprofitability and cash burn. However, if it can flip that switch and become profitable while growing at an astronomical pace, I'm definitely interested. CoreWeave is going on my watch list for 2026, and it may enter my portfolio if it can cross the profitability threshold, which will be a tough task due to the massive capital expenditure required to build a data center.

As of now, I still think the computing unit providers like Nvidia make for better investments, as they don't have to worry about a quickly depreciating asset because they're selling them.

American Bitcoin (ABTC), co-founded by Eric Trump and Donald Trump Jr., has reported a profitable third quarter (Q3) in 2025, signaling robust growth for the company. Operating as both a Bitcoin miner and strategic buyer, American Bitcoin has leveraged its scalable operations to boost profits amid fluctuating cryptocurrency markets.

Alvin Lang
Nov 17, 2025 04:33

ETH price prediction points to $3,934 short-term target with medium-term Ethereum forecast reaching $4,300-$4,800 range, supported by upcoming Fusaka upgrade.

Ethereum is currently trading at $3,186.39, positioning itself for a potential breakout as multiple technical indicators and analyst predictions converge on bullish price targets. Despite recent bearish momentum, the underlying technical structure suggests ETH is building a foundation for significant upward movement.

ETH Price Prediction Summary
• ETH short-term target (1 week): $3,326 (+4.4%)
• Ethereum medium-term forecast (1 month): $3,934-$4,300 range (+23-35%)
• Key level to break for bullish continuation: $3,479 (SMA 20 resistance)
• Critical support if bearish: $3,004 (24h low and strong support confluence)

Recent Ethereum Price Predictions from Analysts
The latest ETH price prediction consensus from multiple analytical sources reveals cautious optimism with specific upside targets. CoinCodex leads with the most aggressive short-term forecast, projecting a $3,934.03 price target representing a 10.45% increase over the next five days. This prediction aligns with technical analysis showing Ethereum approaching oversold conditions.

More conservative Ethereum forecast models from Changelly and CoinLore cluster around the $3,213-$3,326 range, suggesting 1-3% weekly gains. The convergence of these predictions around similar price levels indicates strong analytical consensus for modest near-term appreciation.

The most compelling medium-term ETH price prediction comes from The Bit Journal, which projects $4,300-$4,800 targets contingent on the upcoming Fusaka network upgrade scheduled for December 2025. This represents potential upside of 35-51% from current levels, making it the most bullish forecast in the prediction landscape.

ETH Technical Analysis: Setting Up for Bullish Reversal
Current Ethereum technical analysis reveals a classic oversold setup primed for reversal. The daily RSI at 36.95 sits in neutral territory but approaching oversold levels, historically marking favorable entry zones for ETH. The MACD histogram shows bearish momentum at -20.8011, but this divergence often precedes trend reversals when combined with oversold RSI conditions.

Ethereum's position within the Bollinger Bands at 0.22 indicates the price is trading in the lower portion of its recent range, with significant room for mean reversion toward the middle band at $3,479. The 24-hour trading range of $3,004-$3,249 establishes clear short-term boundaries, with ETH currently testing the lower support zone.

Volume analysis shows substantial daily trading activity at $1.89 billion on Binance, indicating strong market participation. The average true range (ATR) of $223.73 suggests healthy volatility for potential price movements, supporting the feasibility of reaching the $3,934 ETH price target within the predicted timeframe.

Ethereum Price Targets: Bull and Bear Scenarios
Bullish Case for ETH
The primary bullish Ethereum forecast scenario targets $3,934 as the initial resistance level, representing the confluence of multiple technical factors. Breaking above the immediate resistance at $4,036.66 would likely trigger momentum toward the medium-term price target of $4,300-$4,800.

Key technical requirements for this bullish ETH price prediction include RSI recovery above 50, MACD histogram turning positive, and sustained trading above the SMA 20 at $3,479. The upcoming Fusaka upgrade in December 2025 provides fundamental catalyst support for these technical targets.

Extended bullish targets point toward the strong resistance at $4,755, which coincides with the 52-week high region at $4,832. Achievement of these levels would require sustained momentum and broader crypto market support.

Bearish Risk for Ethereum
The primary downside risk centers on failure to hold the critical support at $3,004, which represents both the 24-hour low and strong technical support confluence. A break below this level could trigger selling toward the Bollinger Band lower boundary at $2,949.

Secondary bearish Ethereum forecast scenarios target the $2,800-$2,900 range, representing approximately 10-12% downside from current levels. This scenario would require sustained selling pressure and broader market weakness to materialize.

Should You Buy ETH Now? Entry Strategy
Current technical positioning suggests a favorable risk-reward setup to buy ETH with specific entry parameters. The optimal entry zone spans $3,150-$3,200, allowing for minimal downside while positioning for the predicted upward movement.

Risk management requires a stop-loss placement below $2,950, representing the breakdown level that would invalidate the bullish ETH price prediction. This provides approximately 7-8% downside protection while maintaining exposure to 20%+ upside targets.

Position sizing should reflect the medium confidence level in this Ethereum technical analysis, with conservative allocation of 2-3% of portfolio value. Entry timing benefits from waiting for RSI stabilization above 40 or initial MACD histogram improvement for confirmation.

ETH Price Prediction Conclusion
The comprehensive Ethereum forecast points to $3,934 as the high-probability target within a 2-4 week timeframe, representing 23% upside potential from current levels. This ETH price target maintains medium confidence based on technical indicator convergence and analyst consensus.

Key indicators to monitor for confirmation include RSI recovery above 45, MACD histogram improvement toward positive territory, and sustained trading above $3,250. Invalidation signals include breaks below $3,004 or RSI decline toward 30.

The timeline for this ETH price prediction extends through mid-December 2025, coinciding with the anticipated Fusaka upgrade catalyst. Should you buy or sell ETH based on this analysis? The technical setup favors accumulation on weakness near current levels, with clear risk parameters and defined upside targets supporting a measured bullish stance.

Image source: Shutterstock

eth price analysis
eth price prediction

Economist Peter Schiff contrasted the superior performance of gold with that of Bitcoin (CRYPTO: BTC) on Sunday, advising his followers to rotate into the yellow metal before getting “mauled.”

‘Sell Bitcoin, Buy Gold’Schiff noted that gold had surpassed $4,100 in early Asian trading, while Bitcoin was struggling to hold on to $93,000.

The leading cryptocurrency was down 24.50% from its all-time high. But Schiff added that when compared to gold, the bear market appears “far more ferocious.”

“Sell Bitcoin now and buy gold before you get mauled,” the longtime cryptocurrency critic advised his followers.

Bitcoin Losing Against Gold?It required 30.634 ounces of gold to buy 1 Bitcoin at its all-time high set in October, now down to 23.26 ounces.

Moreover, BTC's value in gold reached a yearly peak of 36.52 ounces on Aug. 13. Since then, the leading cryptocurrency has fallen by more than 36%.

CryptocurrencyPrice in Gold ounces (Recorded at BTC ATH on Oct. 7)Price in Gold ounces (Recorded at 9:20 p.m. ET)Gains +/-Bitcoin30.63423.26-24.07%CryptocurrencyPrice in Gold ounces (Recorded on Aug. 13)Price in Gold ounces (Recorded at 9:20 p.m. ET)Gains +/-Bitcoin36.5223.26-36.30%That said, compared over a five-year timeframe, Bitcoin was up 134% in terms of gold.

Bitcoin supporters have previously accused Schiff of "shifting the goalposts" by evaluating the asset's performance against gold over conveniently short timeframes.

Source: TradingViewSee Also: JPMorgan Forecasts Bitcoin Bottom, Anticipates $28.3 Trillion Challenge To Gold By 2026

What Changed After The October Crash?Capital market commentator Kobeissi Letter highlighted a “structural shift” in the cryptocurrency market since the “Black Friday” crash of October, with gold and Bitcoin moving in opposite directions.

Notably, Bitcoin has shed nearly 22% of its value since the crash, while gold, to the contrary, has gained 1.5%.

AssetsPrice (Recorded on Oct. 10)Price (Recorded at 9:20 p.m. ET)Gains +/-Bitcoin$121,704.74$94,965.10-21.90%Spot Gold$4,018.30$4,079.25+1.5%Longtime gold enthusiast Schiff has been quite optimistic about the commodity, predicting that it might surpass $20,000 per ounce.

On the other hand, he projected that the “cryptocurrency bubble” would eventually burst, leaving Americans as the most vulnerable group.

Read Next: 

Elon Musk And Vitalik Buterin Together Couldn’t Once Convince Harry Potter Author JK Rowling On Bitcoin: ‘I Don’t Think I Trust This’
Photo by Frame Stock Footage via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

WLFI's price action takes the spotlight as the token holds steady at $0.1465, with an 11.71% weekly surge. With a robust market cap of $3.59 billion and over $206 million in daily traded volume, the interest surrounding WLFI remains high. The battle between buyers and sellers has set the stage for a potentially explosive move.

Market experts forecasted a liquidity expansion as the US government resumes normal operations, which is expected to improve prices.

Follow up to the hour updates on what is happening in crypto today, November 17. Market movements, crypto news, and more!

Joerg Hiller
Nov 17, 2025 02:31

Explore the evolution of privacy coins like Zcash and Monero, their market resurgence, and the transition from privacy coins to infrastructure amid regulatory challenges.

The resurgence of privacy coins, such as Zcash (ZEC) and Monero (XMR), marks a pivotal moment in the cryptocurrency sector, as these assets transition from being seen as dark-web tools to essential components of digital-finance privacy infrastructure. According to HTX Academy, the recent explosive rally of Zcash serves as a focal point to understand the evolution of privacy technology and its repricing in the market.

Evolution of Privacy Coins
Privacy coins have evolved significantly, driven by technological advancements and changing market narratives. Initially, these coins faced regulatory pressure and exchange delistings, leading to their market cap shrinking. However, in late 2025, the total market cap for privacy coins surged to $24-28 billion, with Zcash and Monero outperforming the broader market. This revival was fueled by technological upgrades, a shift towards "compliant privacy," and increased demand for financial confidentiality.

Technological Advancements
Zcash's recent rally is attributed to several factors, including post-halving supply compression, major upgrades like Halo 2 and NU5, and the rising narrative of "compliant privacy." These developments have positioned Zcash as a critical player in the privacy sector, offering both shielded and transparent transaction options through zero-knowledge proofs. Meanwhile, Monero continues to offer robust privacy through its use of ring signatures and stealth addresses, despite facing a more challenging regulatory path.

Investment Implications
For investors, privacy coins are becoming a strategic allocation within portfolios, serving as a hedge against the transparency of public chains and central bank digital currencies (CBDCs). The demand for privacy is driven by the need for commercial secrecy and protection against data exploitation. As privacy becomes an integral part of Web3 and decentralized finance (DeFi), these assets offer long-term value beyond their speculative appeal.

Future Outlook
Looking ahead, the privacy sector is expected to transition from a niche market to a foundational element of digital finance. Privacy technologies are likely to be embedded across layer-2 solutions, DeFi, and traditional finance rails. However, the sector faces challenges such as regulatory tightening, privacy protocol vulnerabilities, and competition from mainstream chains incorporating privacy features.

Despite these challenges, privacy coins like Zcash and Monero continue to play a crucial role in preserving financial confidentiality in an increasingly digital world, making them valuable assets in the evolving cryptocurrency landscape.

For more detailed insights into the privacy coin sector, visit the original report on HTX Academy.

Image source: Shutterstock

privacy coins
zcash
cryptocurrency

The XRP market is preparing for an important moment as Franklin Templeton, a global investment company with about $1.5 trillion in assets, will launch its XRP exchange-traded fund (ETF) named EZRP on the CBOE exchange tomorrow. 

This launch takes place during a busy week for XRP ETFs. Bitwise will release its own XRP product on November 20, followed by several other well-known issuers over the next few days. 

Why Franklin Templeton’s Entry MattersFranklin Templeton has long-standing ties with financial advisers, wealth management platforms, pension funds, and banks that already use its products. Because of this, even small portfolio allocations can add up to large flows over time.

Many traditional investors prefer ETFs because they fit into regular brokerage accounts, offer simple tax reporting, and do not require self-custody or crypto exchange accounts.

How It Compares With Canary Funds’ XRP ETFLast week, Canary Funds launched its XRP ETF named XRPC, which recorded around $58 million in first-day trading volume. This was viewed as a strong start for a smaller asset manager.

Franklin Templeton is much larger and controls over 1,500 times more assets than Canary Funds. Analysts expect trading volume for EZRP to potentially reach the $150 million to $250 million range on day one. However, the actual volume will depend on market sentiment and opening demand.

Recent Market ActivityBlockchain tracking platforms have reported that large XRP holders have moved big amounts of XRP from exchanges into offline cold wallets. This usually happens when holders plan for longer time periods instead of quick trades. Reduced exchange supply can lead to stronger price swings during news events.

Important Price Levels To WatchXRP is currently near $2.23. Market analysts are watching the following price zones:

Support: $2.10 and $1.95
First resistance: $2.40 and $2.50
Higher breakout targets: $2.75 and $3.00
ETF listings often bring fast movements in both directions because trading volume can spike during launch hours.

What May Happen After the LaunchCrypto ETFs usually start with strong day-one trading interest, followed by a drop on day two as hype reduces and price discovery stabilizes. This pattern was seen with Canary’s XRPC product when volume fell by more than 50 percent on the next trading day.

Long-term demand will be important to watch, not just the first hour or first day.

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.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Journalist

Posted: November 17, 2025

Key Takeaways 
Why is the current SOL’s loss an opportunity? 
Per DFDV CIO, Solana will capture more value as digital assets grow into 2030; hence, current levels are a discount.

Why has the SOL price plunged despite ETF inflows?
Overall capital outflows ($3B) have surpassed current demand.

Several digital asset treasuries (DATs) are underwater amid an extended market correction. 

In particular, Solana [SOL] treasuries have experienced a massive devaluation, led by Forward Industries (FORD) and DeFi Development Corporations (DFDV).

The SOL price has dropped 45% from $253 to $135, wiping out millions of dollars in value from the DATs’ holdings.

Source: Blockworks

An opportunity or capitulation?
DFDV’s holdings value slipped from $507 million to $310 million amid the correction. However, DFDV’s CIO, Parker White, viewed the market rout and volatility as an opportunity to scale accumulation. He added, 

“Solana is going to go up bigly over the next decade, at least to $10k, because the world is going more digital (not less) and Solana is going to capture a huge slice of the global digital value transfer pie.”

He expected more volatility heading into 2028 and noted, 

“Between now and Dec 2028, I’m hoping for maximum volatility. It creates lots of opportunities for (a) the company to grow SPS (SOL per share) and (b) long-term believers to accumulate at favorable prices.”

That said, the aggregated net asset value for all SOL treasury firms has dropped from $3.5 billion $2.1 billion – A 40% devaluation across the ecosystem. 

And the mNAV, or market-to-net-asset-value (mNAV), is either at parity (1) or below. This could accelerate SOL holdings’ sell-off to buy back its stock, to boost the mNAV.

Parker agreed that they’ll balance and boost mNAV even during tough markets, without disclosing whether this means the automatic selling of part of its SOL holdings (2.1 million SOL).

Treasury inflows fade
Meanwhile, SOL DAT inflows have faded in Q4. In the second week of November, SOL saw zero treasury inflows. 

Source: DeFiLlama

In contrast, U.S. spot SOL ETFs saw $46.3 million in weekly inflows, yet the SOL price continued to decline.

The capital outflows from the SOL market were further evidenced by the slump in the realized cap. About $3 billion has left SOL markets since the 10th of October.

Source: Glassnode

A rebound in the Realized Cap would be a telltale sign of renewed capital inflows and a potential price boost for SOL’s recovery. 

Relentless impersonation campaigns are accelerating across the XRP ecosystem, intensifying investor vigilance as coordinated fraudsters exploit major industry events to target holders with increasingly sophisticated counterfeit content. Ripple Flags Expanding Fraud Targeting XRP Holders Ripple has warned of escalating fraud risks as counterfeit content targets XRP holders with increasing frequency.

In a surprising turn of events, Harvard University has announced a significant investment in Bitcoin, channeling funds into the IBIT Exchange-Traded Fund (ETF). This move comes at a time when redemptions from this ETF have reached $2 billion, provoking discussions on whether Harvard's decision can stabilize or even invigorate the currently volatile market.

MicroStrategy’s long-running, bitcoin-leveraged strategy drew renewed criticism over the weekend as skeptics questioned whether Michael Saylor’s company can withstand sustained market pressure. Among the most vocal was prominent Bitcoin critic Peter Schiff, chairman of Schiff Gold and chief global strategist at Euro Pacific Asset Management, who took to X to argue that the company’s approach depends heavily on ongoing demand for its high-yield preferred shares. He claimed the published yields “will never actually be paid,” warning that weakened demand could trigger what he described as a potential “death spiral.” Schiff even challenged Saylor to debate him at Binance Blockchain Week in Dubai this December, framing the invitation as a direct confrontation over MicroStrategy’s bitcoin-centric corporate strategy.

Countering the criticism, Jeff Dorman, chief investment officer at Arca, dismissed what he called widespread “stupid, inaccurate takes” circulating online about MicroStrategy’s financial health. Without naming Schiff, Dorman said that fears the company might be forced to sell its bitcoin holdings ignore the realities of its balance sheet. He highlighted Saylor’s 42% ownership stake, which makes an activist takeover “almost impossible,” and emphasized that none of the company’s debts include covenants that would require liquidation of bitcoin reserves. Dorman also noted that MicroStrategy’s legacy software division continues to generate positive cash flow, helping support what he described as manageable interest obligations. According to him, lenders often extend maturities rather than force defaults, a common “extend and pretend” practice.

Despite accumulating more bitcoin, MicroStrategy’s stock continues to lag. Class A shares closed at $199.74 on Friday, down over 33% year-to-date, while bitcoin itself has remained nearly flat. StrategyTracker data shows the company’s diluted market net asset value multiple near 1.06x, indicating the stock trades only slightly above its bitcoin-backed value once future shares from options, warrants, and convertible debt are factored in.

Bitcoin was trading around $94,293 late Sunday, down about 1.2% over the previous 24 hours.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Journalist

Posted: November 17, 2025

Key Takeaways
Why has Starknet rallied recently?
The rally was likely due to the accelerated STRK staking, rising to 20% of the total token supply, combined with high buying volume over the past week.

What’s next for STRK?
Strong organic demand and the potential for a short-squeeze meant that prices could potentially skyrocket in the coming days.

Starknet [STRK] rallied 40% in 24 hours, with a commensurate increase in daily trading volume, according to CoinMarketCap. Its Open Interest rose by 51% in the same period, but its funding rate has fallen into negative values.

This meant that the short trade was likely overcrowded and that futures traders believed prices would fall soon.

However, evidence showed underlying spot demand was strong for STRK, setting the conditions for a short squeeze.

The STRK rally was likely sparked by multiple factors. Some of them included a high percentage of token supply staked. The rising Total Value Locked (TVL) also signaled an increased user base.

STRK range breakout implications on the higher timeframes

Source: STRK/USDT on TradingView

The weekly chart showed a 7-month-long range formation for Starknet.

This represented a long period of consolidation between $0.097 and $0.197. At the time of writing, a weekly session close above the range highs was brewing and would be complete in a few hours.

Moreover, the high trading volume and the range breakout were extremely bullish, especially for long-term holders. For new traders looking to enter the trade, it is not too late either.

They might need patience to enter the bulls’ side upon a lower timeframe retracement.

Former resistance turns into demand
The RSI crossed over above neutral 50, and the OBV surged higher. Both indicators underlined the bullish strength evident on the price charts. The next weekly swing levels were at $0.539 and $0.8.

Source: STRK/USDT on TradingView

The former resistance zone at the $0.19 region is a strong demand zone now. A retest of this area would offer a good buying opportunity.

The short-squeeze potential meant that swing traders might not get the retracement they want. That is no reason for FOMO.

For the next week, if the rally continues, the bullish targets would be $0.279 and $0.293.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories.
His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity.
Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution.
As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

XRP’s losses came despite Canary Capital launching its XRP ETF and the imminent launch of more high-profile XRP-spot ETFs in the coming sessions. Risk-off sentiment weighed on XRPC’s trading volumes on day two of trading, raising concerns about sustained institutional demand for XRP-spot ETFs.

Franklin Templeton XRP ETF Countdown
XRP-spot ETFs will take center stage for a second week, as traders brace for a pivotal week for the token.

Franklin Templeton is set to become the largest XRP-spot ETF issuer by assets under management, launching on Tuesday, November 18. The Franklin XRP ETF (EZRP) launches ahead of another major XRP-spot ETF launch. Bitwise XRP ETF is scheduled to launch on Thursday, November 20.

While the Canary XRP-ETF got a first-to-market advantage, analysts expect Franklin Templeton and Bitwise to draw more institutional demand.

According to VettaFi, Franklin Templeton ranks #19 on the ETF issuer Assets Under Management (AUM) league table, with $43.16 billion in AUM. Bitwise Asset Management ranks #56, with $5.74 billion in AUM. For context, Canary Capital ranks #238, with $71.17 million in AUM.

Franklin Templeton and Bitwise will need to lead the XRP-spot ETF market in the absence of a BlackRock (BLK) iShares XRP Trust. BlackRock has continued to dominate the BTC-spot and ETH-spot ETF markets, holding the lion’s share of net inflows. The largest ETF issuer, with $3,876 billion in AUM, has remained silent on its plans for launching an XRP-spot ETF.

Flow trends for Franklin XRP ETF and Bitwise XRP ETF will be crucial for the token’s near-term price trajectory, given their standings in the ETF space. Robust and sustainable inflows could allow XRP to decouple from the broader crypto market. On the other hand, similar performance to the Capital XRP ETF (XRPC) could extend the token’s losing streak.

XRPC saw trading volumes slide from $59 million on day one to $26 million on day two, weighing on XRP sentiment.

Technical Outlook: Key XRP Price Levels
XRP dropped 0.84% on Sunday, November 16, following the previous day’s 0.40% loss, closing at $2.2167. The token saw a more modest loss than the broader crypto market, which declined 1.39%.

Six consecutive days of losses left XRP well below the 50-day and 200-day Exponential Moving Averages (EMAs), signaling bearish momentum.

Looking ahead, several price action catalysts could trigger a recovery, potentially sending the token toward $3.

Key technical levels to watch include:

Support levels: $2.2, $2.0, and $1.9.
50-day EMA resistance: $2.4969.
200-day EMA resistance: $2.5650.
Resistance levels: $2.35, $2.5, $2.62, $2.8, $3.0, and $3.66.

Bitcoin (BTC) fell below $100,000 again, hitting around $97,000 amid a sudden wave of market volatility. The crypto market experienced massive forced liquidations, with over $700 million wiped out in both long and short positions within 24 hours, according to Coinglass data.

Journalist

Posted: November 17, 2025

Key Takeaways
Is Ethereum facing a potential supply squeeze?
Nearly 2 million ETH are queued to unlock while exchange reserves have dropped to a three-year low.

Will the Fusaka upgrade impact price?
Possibly. The upgrade arrives on December 3, and past upgrades like Pectra aligned with a 58% ETH rally.

Nearly 2 million Ethereum [ETH] are on the move – not in, but out of staking – just as exchange balances hit new lows. With Fusaka arriving in December, Ethereum might be preparing for one of its big swing phases!

A huge exist queue builds
Ethereum is heading toward a major supply shift. Validator Exit Queue was stacked, with nearly 2 million ETH scheduled to unlock over the next 35 days.

Source: X

The queue has gone up from near-zero levels to above 2.5 million ETH at its peak, making this the largest pending withdrawal wave since staking began. Yet none of this ETH has exited the system yet. It is simply waiting in line.

At the same time, ETH Exchange Reserves have fallen to 15.9 million ETH, their lowest point in more than three years.

Source: X

A large batch of ETH is about to become liquid. At the same time, Exchange Balances keep shrinking. This increases the chances of a near-term supply shock.

All eyes on Fusaka
Ethereum’s next major milestone arrives on the 3rd of December, and it seems like the market is preparing itself for it.

The Fusaka upgrade targets three core areas (L2 scalability, transaction speed, and validator performance), building directly on improvements seen in Shanghai and Dencun.

So far, upgrades have acted as catalysts: the previous Pectra upgrade coincided with a 58% rally.

Source: X

Fusaka is expected to deliver even broader efficiency gains, including lower gas costs and faster L2 throughput, both of which strengthen network usage metrics.

With the huge unstaking queue and potential for a supply crunch, it will be interesting to see whether structural improvements can amplify the tightening setup.

The upgrade comes at a critical time, and its performance impact will likely determine whether Ethereum enters 2026 with a bang.

The XRP market is preparing for an important moment as Franklin Templeton, a global investment company with about $1.5 trillion in assets, will launch its XRP exchange-traded fund (ETF) named EZRP on the CBOE exchange tomorrow. 

This launch takes place during a busy week for XRP ETFs. Bitwise will release its own XRP product on November 20, followed by several other well-known issuers over the next few days. 

Why Franklin Templeton’s Entry MattersFranklin Templeton has long-standing ties with financial advisers, wealth management platforms, pension funds, and banks that already use its products. Because of this, even small portfolio allocations can add up to large flows over time.

Many traditional investors prefer ETFs because they fit into regular brokerage accounts, offer simple tax reporting, and do not require self-custody or crypto exchange accounts.

How It Compares With Canary Funds’ XRP ETFLast week, Canary Funds launched its XRP ETF named XRPC, which recorded around $58 million in first-day trading volume. This was viewed as a strong start for a smaller asset manager.

Franklin Templeton is much larger and controls over 1,500 times more assets than Canary Funds. Analysts expect trading volume for EZRP to potentially reach the $150 million to $250 million range on day one. However, the actual volume will depend on market sentiment and opening demand.

Recent Market ActivityBlockchain tracking platforms have reported that large XRP holders have moved big amounts of XRP from exchanges into offline cold wallets. This usually happens when holders plan for longer time periods instead of quick trades. Reduced exchange supply can lead to stronger price swings during news events.

Important Price Levels To WatchXRP is currently near $2.23. Market analysts are watching the following price zones:

Support: $2.10 and $1.95
First resistance: $2.40 and $2.50
Higher breakout targets: $2.75 and $3.00
ETF listings often bring fast movements in both directions because trading volume can spike during launch hours.

What May Happen After the LaunchCrypto ETFs usually start with strong day-one trading interest, followed by a drop on day two as hype reduces and price discovery stabilizes. This pattern was seen with Canary’s XRPC product when volume fell by more than 50 percent on the next trading day.

Long-term demand will be important to watch, not just the first hour or first day.

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