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Trading in the DAI/USDC/USDT pool climbed to $343 million, while its USDT balance increased and holdings of the other two stablecoins fell.

Trading in the DAI/USDC/USDT pool climbed to $343 million, while its USDT balance increased and holdings of the other two stablecoins fell.

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8 hours ago

According to OnchainLens monitoring, trader Long Loyalist deposited 4.9 million USDC into Hyperliquid approximately one hour ago, and placed a buy order for around 9,630 ETH (valued at roughly $20 million). The trader currently holds about 4,860 ETH in long positions (worth ~$10.94 million), with unrealized profit and loss of approximately -$4.63 million across 39 open positions, and historical profit and loss of roughly -$4.29 million.

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4 hours ago

Circle plans to gradually reduce the burn limit for the legacy Cross-Chain Transfer Protocol (CCTP V1) starting October 31, 2026, and suspend the associated contracts on December 1, at which point USDC cross-chain transfers via the old route will no longer be possible. The new CCTP (formerly CCTP V2) uses independent contracts and APIs and is not backward compatible, so applications, wallets, and bridging services using the legacy version must proactively update their integrations. Circle stated it will maintain sufficient minting allowances to ensure all proven pending transfers are completed before the suspension, though specific limit tiers and intermediate adjustment dates have not been disclosed. Additionally, the Noble chain will not be integrated with the new CCTP; Circle plans to suspend its USDC contracts and remaining cross-chain routes on January 12, 2027. USDC holders on the Noble chain must withdraw their funds by that date. Circle will take a snapshot of remaining balances on the suspension day and launch manual redemptions starting January 13, with applicants required to meet compliance and security requirements and hold assets in self-custody wallets.

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Mutsamudu, Comoros, October 30, 2026 – MEXC, a pioneer in 0-fee digital asset trading, announced the launch of the Canton 0-Fee Carnival together with Canton. From 10:00 UTC on October 30 to 10:00 UTC on November 30, 2026, users can trade CC spot and futures pairs with 0 fees and share a $1M prize pool through a series of events, including Welcome Power Reward, Treasure Lever Frenzy, and Canton Trading Rush.

As traditional finance and digital assets continue to converge, Canton Network has emerged as a notable project in this space. Its privacy-enabled blockchain infrastructure is designed for institutional financial markets, addressing the need to protect sensitive financial data while enabling interoperability across applications and preserving institutional control. The network supports the tokenization of real-world assets (RWAs) and enables financial applications to connect and coordinate workflows. Canton Coin (CC) is the network’s native utility token, used to pay network fees and reward participants for their contributions to the ecosystem.

Canton 0-Fee Carnival Highlights

0-Fee Trading Fest: Zero trading fees on CC/USDT and CC/USDC spot pairs and CCUSDT futures.
Welcome Power Reward: Users who register during the event, make a net deposit of at least $100 and hold it for at least 24 hours receive a $200 CC position airdrop and $5 in CC, on a first-come, first-served basis.
Treasure Lever Frenzy: Users complete trading missions on CC/USDT spot and CCUSDT futures to earn chances to pull the treasure lever, with rewards of up to $1,000 in CC, on a first-come, first-served basis.
Canton Trading Rush: Users who reach a cumulative trading volume of at least $5,000 on CC/USDT spot share 1,500,000 CC, and those who reach at least $100,000 on CCUSDT perpetual futures share 3,500,000 CC, with per-user caps of 1,000 CC and 3,000 CC respectively.
Buy and Hold to Earn: Users who buy and hold at least 1,000 CC on spot share 1,000,000 CC based on their average valid holdings, measured through random daily snapshots, with a cap of 2,500 CC per user.
Learn to Earn: Users who read the Canton Academy article and complete the quiz receive 50 CC, with 500,000 CC available on a first-come, first-served basis.

The campaign reflects MEXC’s focus on areas such as real-world asset (RWA) tokenization and institutional-grade blockchain infrastructure, helping users discover emerging projects and access new trading opportunities. MEXC offers a wide range of assets in one place, including crypto assets, stocks, ETFs, tokenized assets, and commodities, giving users a single gateway to global markets. By expanding asset access and lowering trading barriers, MEXC continues to deliver on its vision of “0 Fees, Infinite Opportunities.”

To learn more and join the Canton 0-Fee Carnival, please visit the event page.

About MEXC

Founded in 2018, MEXC is a leading global multi-asset trading platform built as your 0-fee gateway to infinite opportunities. Serving users across 170+ markets, MEXC provides simple and efficient access to crypto, stocks, tokenized assets, derivatives, and a growing range of TradFi-linked opportunities through one account and one gateway.

With 0 trading fees, deep liquidity, broad asset coverage, and a high-performance trading experience, MEXC is designed for retail users who want to discover earlier, act faster, and trade with fewer barriers. As crypto and traditional finance continue to converge, MEXC is committed to making global opportunities more accessible, helping users trade freely and MEXCmize every opportunity.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

For media inquiries, please contact MEXC PR team: [email protected]

Risk Disclaimer:

This content does not constitute investment advice. Given the volatility of financial markets, including digital assets, tokenized assets, and traditional financial products, investors should carefully assess market conditions, underlying asset fundamentals, and potential financial risks before making any investment or trading decisions.

TLDR

Pump.fun has integrated the Arbitrum network into its trading app.
Users can now trade supported Arbitrum tokens with USDC without bridging funds manually.
Whale Factor data shows PUMP’s FOMO new address count fell from 61,700 to 55,300 over the past month.
Analyst Tranquility Crypto named $0.00525 as the key resistance level for PUMP.
$0.003 has been flagged as a possible downside level if resistance holds.

Pump.fun has added the Arbitrum network to its trading app. The update lets users trade supported Arbitrum tokens directly from their USDC wallet.

Before this change, traders needed to move funds between blockchains by hand. The new setup removes that manual bridging step.

The launch comes as the platform’s native token, PUMP, trades below a key resistance level. Traders are watching to see whether the price moves higher or slides toward $0.003.

Pump.fun Brings Arbitrum Into Its App
Pump.fun announced the integration in a post on X. The company said the upgrade supports fast transactions and low fees.

Arbitrum is now live on the Pumpfun app!

Trade any Arbitrum token straight from your USDC balance – no bridging needed. Enjoy the fastest crosschain speeds and the cheapest fees.

Welcome to the Pumpfun app, @arbitrum pic.twitter.com/USrhMlyNih

— Pump.fun (@Pumpfun) October 28, 2026

The goal is to make cross-chain trading simpler. Users can now reach tokens on a different blockchain with fewer steps.

The move widens Pump.fun’s reach beyond its memecoin launch business. More supported networks give traders more tokens to find and trade in one place.

The announcement confirms that the feature is live. How much it gets used will depend on trading activity in the weeks ahead.

Pump.fun is one of several platforms competing for memecoin traders. Adding Arbitrum expands the list of tokens it offers to users who hold USDC.

According to Whale Factor, PUMP’s FOMO new address indicator dropped from 61,700 to 55,300 over the last month. The figure tracks new wallet activity tied to the token.

🐋 WHALE WATCH : $PUMP flipped FOMO in new addresses over the past month. PUMP pulled 61.7K FOMO dropped to 55.3K.

Pumpfuns app is gaining ground on the memecoin terminal that briefly took the lead. pic.twitter.com/nQIt2o46xf

— Whale Factor (@WhaleFactor) October 29, 2026

The decline shows lower activity on that measure. On its own, it does not confirm a drop in overall adoption of the platform or the token.

Whale Factor also suggested that Pump.fun’s app is catching up to a rival memecoin terminal that took an early lead. Confirming that would require direct comparisons of trading volume, users, and market share.

PUMP Price Faces Key Resistance
Crypto analyst Tranquility Crypto named $0.00525 as the level PUMP buyers need to reclaim. Moving back above it could improve the token’s short-term outlook.

A move that holds above that mark with rising trading volume would be stronger evidence of a turnaround. A brief price spike alone would carry less weight.

So far, no breakout has been confirmed. The token continues to struggle at that level.

If PUMP fails to clear resistance, selling pressure could continue. Tranquility Crypto pointed to $0.003 as a possible downside level.

As of October 30, PUMP remains below $0.00525. Traders are now watching usage of the new Arbitrum feature and whether the token can reclaim that resistance.

Jupiter's API showed just 3.35 USDC immediately withdrawable against 418.5 million USDC in Earn deposit claims.

Jupiter's API showed just 3.35 USDC immediately withdrawable against 418.5 million USDC in Earn deposit claims.

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Coinbase is removing USDT and 13 other stablecoins for retail customers across the European Economic Area, and the deadline to withdraw them is October 30, 2026. After that date, any affected balance left in an EEA account will be automatically converted into USDC at the market rate, according to Coinbase’s MiCA non-compliant stablecoins notice.

For a retail user in Frankfurt or Madrid who has been holding Tether’s USDT as a parking spot for cash, the change is abrupt. Buying, selling, and swapping the token was already switched off, and withdrawal is now the only door left open. It is a sharp single-exchange cull of dollar-pegged tokens since the European Union’s Markets in Crypto-Assets Regulation, MiCA, finished its transition into force.

The 14 Assets Leaving Coinbase’s EEA PlatformCoinbase lists the full set of “MiCA-non-compliant stablecoin assets” as USDT, PAX, PYUSD, GUSD, GYEN, DAI, BUST, UST, RAI, PAXG, MUSD, USD1, USDS, and TGBP.

That list spans the biggest names in the stablecoin business. USDT comes from Tether, DAI and USDS from Sky, the DeFi issuer formerly known as MakerDAO, PYUSD from PayPal, GUSD from Gemini, PAX and PAXG from Paxos, and USD1 from World Liberty Financial, the crypto venture backed by Donald Trump. It also reaches smaller or legacy tokens — BUST, UST, RAI, MUSD, TGBP, and GYEN — that most European users will only remember from an old trade.

Why October 30, and Why the Deadline Is Finally HereThe cutoff is the operational end of a process that began months ago. Coinbase states plainly that “the MiCA transitional period for stablecoin issuers ended on July 1, 2026, and was not extended.” Once that window closed, venues in the bloc could no longer support stablecoins whose issuers had not secured MiCA authorisation. The European Securities and Markets Authority followed through in October, laying out a three-month window for platforms to remove non-compliant tokens — the USDT removal deadline ESMA set for EU platforms.

What Happens to a Balance Left Behind“On October 30, 2026, Coinbase will convert remaining affected balances at the market rate at the time of conversion,” the notice reads. The swap is one-way and one-time: balances are converted into USDC “where suitable,” or into another supported crypto asset or fiat currency where USDC is not. Coinbase flags that the conversion “may be a taxable event in some jurisdictions,” and that users, not the exchange, own whatever tax outcome follows.

There is a sharper warning for anyone who sends a restricted token back after the deadline. “Assets sent after October 30, 2026” will not be credited to the account, cannot be traded, converted, or transferred, and will not be included in the automatic conversion, the notice states. Recovery through Coinbase’s unsupported-crypto process is only available “where technically possible,” and even then it is “not guaranteed.”

What USDT’s Removal Does to the EEA Stablecoin RaceThe irony sits in the market caps. Tether’s USDT remains the world’s largest stablecoin at roughly $180.3 billion, more than 2.5 times the $71.3 billion of USDC, per CoinGecko data. Yet in the EEA the rules push exchange liquidity the other way: USDT, whose issuer has not obtained MiCA authorisation, is being retired on Coinbase, while USDC — issued by Circle, which is MiCA-authorised — becomes the default dollar token. A user holding USDT on Coinbase in the EEA is effectively being asked to convert the largest stablecoin in the world into the second-largest, because only the second one is legally welcome in the bloc.

The shift also lands on an exchange that European regulators have been watching closely. In October, Coinbase’s Irish unit was fined €3.25 million over e-money safeguarding failures, a reminder that Coinbase’s European operations are being held to the letter of the bloc’s payments rules.

What EEA Users Should Do Before the DeadlineThe practical path is narrow. First, check whether the account actually holds any of the 14 affected assets. Second, if it does, withdraw them to an external wallet before October 30 — but only to a wallet on a network the token actually lives on, because a withdrawal sent to the wrong chain cannot be recovered. Third, do not send any of the restricted tokens back to Coinbase after the deadline; they will not be credited. If a compliant dollar token is the goal, the simplest option is to let the automatic conversion happen and receive USDC.

The Skeptical Case: What This Does Not ChangeThe delisting is a big deal for Coinbase’s EEA retail users, but it does not mean USDT is dying. Tether’s token still settles billions in daily volume on exchanges across Asia, the Middle East, and beyond, and its roughly $180 billion market cap has barely moved. Coinbase is one venue among many, and USDT holders outside the EEA face no change at all.

Nor is the conversion a guarantee of exact face value. Coinbase converts “at the market rate at the time of conversion,” which for a stablecoin trading a fraction of a cent around its peg is usually close to par — but it is a market swap, not a redemption. The structural question is whether the rest of the EU’s exchanges follow Coinbase’s lead, and whether USDT ultimately loses meaningful European liquidity rather than regaining it through MiCA authorisation.

Frequently Asked Questions

When is the Coinbase USDT deadline for EEA users?October 30, 2026. Coinbase says buying, selling, and converting USDT and the 13 other affected assets is already restricted for EEA retail users, and any balance left after that date is automatically converted into USDC at the market rate.

What happens to my USDT if I do not withdraw it from Coinbase?On October 30, 2026, Coinbase will convert the remaining balance into USDC, or into another supported asset or currency where USDC is not suitable. It is a one-time conversion at the market rate at the time of conversion, and it may be a taxable event in some jurisdictions.

Which stablecoins is Coinbase removing in the EEA?The 14 assets are USDT, PAX, PYUSD, GUSD, GYEN, DAI, BUST, UST, RAI, PAXG, MUSD, USD1, USDS, and TGBP — stablecoins whose issuers have not obtained MiCA authorisation.

Can I still hold USDC on Coinbase?Yes. USDC is issued by Circle, which is MiCA-authorised, so it remains fully supported for EEA customers. Coinbase is effectively steering affected balances toward USDC as the compliant dollar token.

What happens if I send USDT to Coinbase after October 30?Coinbase says assets sent after the deadline will not be credited, cannot be traded or transferred, and will not be included in the automatic conversion. Recovery is only possible through the unsupported crypto recovery process, where technically available, and is not guaranteed.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

OneMain Holdings (OMF - Free Report) came out with quarterly earnings of $1.51 per share, missing the Zacks Consensus Estimate of $1.56 per share. This compares to earnings of $1.9 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -3.21%. A quarter ago, it was expected that this consumer finance company would post earnings of $1.31 per share when it actually produced earnings of $1.31, delivering no surprise.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

OneMain, which belongs to the Zacks Financial - Consumer Loans industry, posted revenues of $1.15 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.51%. This compares to year-ago revenues of $1.07 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

OneMain shares have lost about 12.2% since the beginning of the year versus the S&P 500's gain of 12.8%.

What's Next for OneMain?While OneMain has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for OneMain was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.77 on $1.16 billion in revenues for the coming quarter and $6.66 on $4.43 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Consumer Loans is currently in the bottom 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Navient (NAVI - Free Report) , has yet to report results for the quarter ended September 2026. The results are expected to be released on November 4.

This student loan servicing company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of -48.3%. The consensus EPS estimate for the quarter has been revised 12.8% lower over the last 30 days to the current level.

Navient's revenues are expected to be $124.63 million, down 14.6% from the year-ago quarter.

Watsco remains overvalued with a 26x PE despite only 3% revenue growth in 2026. Recent earnings showed declining margins and EPS, raising concerns about structural weakness. Dividend payout now exceeds TTM EPS, posing a long-term risk to growth investment capacity.

RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial (NYSE:LNC) announced today that the board of directors of Lincoln National Corporation has declared a quarterly dividend of $562.50 per share on the corporation's 9.000% Non-Cumulative Preferred Stock, Series D, $25,000 liquidation preference per share, represented by depositary shares each representing a 1/1,000th interest in a share of the preferred stock, holders of which will receive $0.5625 per depositary share (NYSE: LNC PRD). The dividend w.

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

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

ELKHART, Ind.--(BUSINESS WIRE)--LCI Industries (NYSE: LCII) (“LCI”), today announced that its Board of Directors, in consultation with its outside financial and legal advisors, has unanimously determined that the unsolicited, non-binding proposal received from Monomoy Capital Partners to acquire LCI for $101 per share in cash does not constitute a superior proposal and is not reasonably likely to lead to a superior proposal. In reviewing Monomoy's proposal, the Board of Directors carefully cons.

Gemini founders Cameron and Tyler Winklevoss have called for Zcash to scrap its community grants committee and give ZEC holders more control over funding decisions, as disagreements over the program’s $125 million treasury continue to grow.

Summary

Cameron and Tyler Winklevoss have called for Zcash to scrap its community grants committee, arguing that ZEC holders should have a direct say over how development funds are distributed. Tyler Winklevoss has accused the committee of lacking accountability and questioned its handling of a treasury that Zcash cofounder Sean Bowe recently valued at more than $125 million. The dispute has divided community members, with some defending the grants program as an important source of development funding while others want its current structure replaced. Zcash already has a separate coinholder voting program that receives 12% of block rewards, while the community grants committee controls another 8% allocated to ecosystem development. Sean Bowe has proposed redirecting the committee’s share of block rewards toward a network sustainability mechanism, although no changes to the existing funding arrangement have been approved. In an October 30 post on X, Cameron Winklevoss argued that Zcash does not need to develop a new governance system when stakeholder voting has been used in traditional capital markets for centuries.

Zcash doesn’t need to re-invent the governance wheel. Stakeholder voting has worked in capital markets for centuries. Coinholder voting is just the onchain form-factor.

Experimenting in governance is not part of the Zcash mission. Its mission is privacy.

It’s time to end ZCG…

— Cameron Winklevoss (@cameron) October 30, 2026 He described coinholder voting as the blockchain equivalent of that system and said Zcash should concentrate on its original mission of protecting financial privacy.

“Experimenting in governance is not part of the Zcash mission. Its mission is privacy,” he wrote, before calling for Zcash Community Grants (ZCG) to be discontinued.

His comments followed similar criticism from his brother Tyler, who accused the committee of operating without sufficient accountability and questioned why ZEC holders have no direct say over its spending decisions.

Tyler Winklevoss questions Zcash grants committee accountability In an October 30 response to community developer Vini Barbosa, Tyler argued that ZCG operates under a different set of incentives from the miners responsible for securing the Zcash network.

Comparing ZCG to mining is either intellectually dishonest or intellectually illiterate.

Miners are the Man in the Arena and mining is the purest market-based competition imaginable. Miners risk their capital and time to enter the race to verify and secure the Zcash network.… https://t.co/T3pq8pbgOr

— Tyler Winklevoss (@tyler) October 30, 2026 According to him, miners must commit their own capital and computing resources to compete for block rewards, with their earnings determined by how successfully they contribute to the network.

He contrasted that arrangement with ZCG, whose committee members approve funding without facing comparable financial risks if the projects they support fail to deliver.

At one point, he described the committee as a “slush fund with no accountability,” alleging that its structure encourages poor spending decisions and conflicts of interest.

Tyler questioned the absence of direct coinholder oversight, fiduciary responsibilities and financial consequences for committee members whose decisions result in unsuccessful projects.

He maintained that Zcash could continue operating without ZCG and that the committee should therefore be dissolved.

The criticism follows an October 27 proposal from Zcash co-founder Sean Bowe to redirect the committee’s 8% share of block subsidies toward the Network Sustainability Mechanism.

Bowe estimated that the program held more than $125 million in available funding, based on the value of its ZEC holdings and outstanding commitments.

His proposal calls for existing grant obligations to be honored before the remaining treasury funds are transferred to the reserve, while the separate coinholder grants program would continue receiving its 12% allocation.

Zcash community members defend development funding Not everyone in the Zcash community agrees with the Winklevoss brothers’ position.

Responding to Tyler’s October 27 comments, developer Vini Barbosa argued that the development fund should not be compared to a charitable program or foreign aid.

He said community grants provide a legitimate way to finance projects that benefit the network, comparing their role in supporting development with the rewards miners receive for securing the blockchain.

Tyler rejected that comparison, arguing that mining rewards are distributed through measurable competition, while grant approvals depend on decisions made by a committee.

The disagreement follows criticism of a $550,000 outreach proposal that received ZCG approval in August.

As crypto.news previously reported, the ZECsy initiative included appearances at adult industry conventions, cryptocurrency conferences and educational workshops designed to introduce private payments to people facing banking restrictions.

The committee approved approximately $461,500 for the project’s first nine monthly milestones, with organizers required to submit progress and spending reports.

Supporters defended the initiative as a way to introduce Zcash to communities that could benefit from financial privacy, while critics questioned whether the spending would produce lasting adoption.

Coinholder voting already determines some Zcash grants Zcash already operates a separate funding program that allows coinholders to vote directly on grants for completed development work.

Under the current arrangement, 20% of block rewards support ecosystem development, with 8% allocated to ZCG and the remaining 12% directed toward the Coinholder-Directed Retroactive Grants Program.

In September, ZEC holders approved $8.39 million in retroactive funding across 17 of 37 proposals.

The voting process involved approximately 2.18 million ZEC, representing 10.4% of the cryptocurrency’s maximum supply of 21 million coins.

Approved projects included security research, protocol development, wallet infrastructure and work connected to vulnerabilities discovered in Zcash’s privacy technology.

The program requires at least 420,000 ZEC to participate in a vote and a simple majority in favor before a proposal can receive approval.

Its next funding round is scheduled to accept proposals from October 30 through November 13, with voting planned for December 17 to December 29.

Zcash governance debate extends to community discussions The disagreement has spread beyond the distribution of development funds to where Zcash governance discussions should take place.

In another October 30 post, Tyler criticized the idea that community debates should remain primarily on the project’s dedicated forums.

He argued that X provides a more open public space for discussions and said people should not be blocked or criticized simply for questioning established governance arrangements.

Meanwhile, the debate follows a period of substantial development spending across the Zcash ecosystem.

An October 27 report cited Grayscale research crediting the network’s developer funding model with helping support privacy and security improvements over the past decade.

Grayscale research head Zach Pandl pointed to continued protocol development during periods of weak token performance and identified quantum computing, transaction capacity and cybersecurity as areas requiring further investment.

The existing funding dispute has not resulted in an approved change to ZCG’s allocation, and Bowe’s proposal would require a future network upgrade before the new distribution rules could take effect.

TLDR Cameron and Tyler Winklevoss want Zcash to shut down its community grants committee and give ZEC holders direct control over funding. Tyler Winklevoss called the committee a “slush fund with no accountability.” Zcash cofounder Sean Bowe valued the committee’s treasury at more than $125 million and proposed redirecting its 8% share of block rewards. Some developers defend the grants program as a fair way to fund work that helps the network. No funding changes have been approved, and Bowe’s proposal would need a future network upgrade. Gemini founders Cameron and Tyler Winklevoss have called for Zcash to shut down its community grants committee. They want ZEC holders to have direct control over how development money is spent.

The push comes as debate grows over the committee’s treasury. Zcash cofounder Sean Bowe recently valued it at more than $125 million.

Winklevoss Twins Question Grants Committee Accountability In an October 30 post on X, Cameron Winklevoss said Zcash does not need to invent a new governance system. He said stakeholder voting has been used in capital markets for centuries, and coinholder voting is the blockchain version of it.

Zcash doesn’t need to re-invent the governance wheel. Stakeholder voting has worked in capital markets for centuries. Coinholder voting is just the onchain form-factor.

Experimenting in governance is not part of the Zcash mission. Its mission is privacy.

It’s time to end ZCG…

— Cameron Winklevoss (@cameron) October 30, 2026

“Experimenting in governance is not part of the Zcash mission. Its mission is privacy,” he wrote. He then called for Zcash Community Grants, known as ZCG, to be discontinued.

His brother Tyler made similar arguments the same day. He said miners risk their own capital and computing power to earn rewards, while committee members face no such risk when funded projects fail.

Tyler called the committee a “slush fund with no accountability.” He said its structure encourages poor spending and conflicts of interest, and that Zcash could run without it.

Community Members Defend Development Funding Not everyone agrees with the twins. Developer Vini Barbosa argued that community grants are a fair way to pay for work that helps the network, much like mining rewards pay for securing it.

Tyler rejected that comparison. He said mining rewards come from measurable competition, while grants depend on decisions made by a committee.

The debate follows criticism of a $550,000 outreach proposal that ZCG approved in August. The ZECsy project planned appearances at adult industry conventions, crypto conferences and workshops for people facing banking restrictions.

The committee approved about $461,500 for the project’s first nine monthly milestones. Supporters said it could reach people who need financial privacy, while critics questioned whether it would lead to lasting adoption.

Tyler also said governance debates should not stay mainly on Zcash forums. He argued X offers a more open space and that people should not be blocked for questioning current arrangements.

Zcash doesn’t need to re-invent the governance wheel. Stakeholder voting has worked in capital markets for centuries. Coinholder voting is just the onchain form-factor.

Experimenting in governance is not part of the Zcash mission. Its mission is privacy.

It’s time to end ZCG…

— Cameron Winklevoss (@cameron) October 30, 2026

Under the current setup, 20% of Zcash block rewards fund ecosystem development. ZCG receives 8%, and the Coinholder-Directed Retroactive Grants Program receives the other 12%.

In September, ZEC holders approved $8.39 million in retroactive funding for 17 of 37 proposals. About 2.18 million ZEC took part, or 10.4% of the 21 million maximum supply.

An October 27 report cited Grayscale research crediting Zcash’s funding model with supporting privacy and security upgrades over the past decade. Grayscale research head Zach Pandl named quantum computing, transaction capacity and cybersecurity as areas needing more investment.

Also on October 27, Bowe proposed moving ZCG’s 8% share of block subsidies to the Network Sustainability Mechanism. Existing grant commitments would be honored first, and the coinholder program would keep its 12%.

No change to ZCG’s funding has been approved. Bowe’s proposal would need a future network upgrade to take effect.

The coinholder program’s next round accepts proposals from October 30 through November 13. Voting is set for December 17 to December 29.

Zcash Community Grants (ZCG) has introduced a plan to redirect approximately $124 million in Zcash tokens from its treasury and future allocations to bolster mining rewards, prompting questions from industry participants over fund transparency and oversight.

Proposal details and potential impactOn Thursday, ZCG recommended transferring 36,200 ZEC, valued at about $46 million, from its current treasury holdings into the Network Sustainability Mechanism (NSM), a mechanism designed to secure ongoing funding for future mining rewards. This transfer would reduce the committee’s treasury from roughly 91,500 ZEC to around 55,200 ZEC, worth about $70 million at current prices.

Alongside the treasury transfer, ZCG proposed foregoing an additional 62,000 ZEC, or $78.5 million, in future token allocations. The committee plans to gradually reduce its funding over the next eight years, extending into 2032 rather than ending the automatic allocation in 2028 as previously scheduled. Both changes combined would shift an estimated 98,000 ZEC, currently valued near $124 million, to support the NSM and ongoing miner incentives.

ZCG described the plan as preliminary and indicated it will present a full proposal for community evaluation at a later date.

Dissent from industry figuresKey figures in the crypto community have voiced concerns regarding the proposal and the overall size of the ZCG treasury. Helius co-founder and CEO Mert Mumtaz labeled the plan insufficient, arguing that ZCG’s reserves are already too extensive and that spending decisions should involve greater accountability to ZEC holders.

Tyler Winklevoss, co-founder of Gemini, echoed these concerns after Mumtaz reported on social media that a ZCG committee member had unfollowed him on X. Winklevoss remarked that such conduct called into question the suitability of granting oversight of $110 million to the committee.

Helius CEO Mert Mumtaz criticized the proposal as inadequate, emphasizing that the treasury’s size is already too large and asserting that ZEC holders deserve transparent and accountable fund management. Tyler Winklevoss questioned the committee’s oversight capabilities, referencing recent social media tensions as evidence of inadequate suitability for managing significant resources.

Context and ongoing discussionsThese criticisms build on previous calls for changes to Zcash’s funding model. Zcash co-founder Sean Bowe previously suggested eliminating ZCG’s automatic allocation of 8% of new ZEC issuances and redirecting that share directly into the NSM, while leaving existing treasury balances untouched.

As the Zcash community weighs these proposals, participants have increased their monitoring of governance and funding decisions, highlighting the importance of transparency and appropriate oversight for large community treasuries.

With over $124 million potentially moving from the treasury to long-term mining rewards, Zcash participants will likely look for real-time tracking of treasury holdings, funding flows, and community votes. CryptoAppsy lets users follow these dynamics by providing up-to-date charts and news streams focused on ZEC’s treasury and governance developments, helping the community stay informed during critical decision periods.

Brown Brothers Harriman's Elias Haddad reports EUR/USD has rebounded above 1.1200 after the ECB paused while pushing back against aggressive market tightening expectations.

Merit Medical Systems, Inc. (NASDAQ:MMSI) on Thursday reported upbeat results for the third quarter.

Plus, federal debt hits 100% of GDP.

Travel + Leisure Goes Big—Is It Ready to Rally?Hilton Grand Vacations NYSE: HGV reported third-quarter results that fell short of its prior expectations as contract sales declined 11% and sales-conversion challenges persisted across its Legacy and Bluegreen operations. The vacation ownership company reduced its full-year adjusted EBITDA outlook, citing weaker-than-expected sales performance and a slower ramp in initiatives intended to improve execution.

Chief Executive Officer Mark Wang said the company’s underlying recurring-revenue businesses and cash generation remained resilient, but sales teams did not convert customer tours into transactions at the expected rate. Contract sales fell to $807 million, while tours increased 2% to 236,000. Volume per guest, or VPG, declined 12% to approximately $3,400.

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“Tour flow for the quarter was consistent with our expectations, as it's been all year,” Wang said. “But we didn't convert those tours into transactions at the level we should have.”

Sales execution drives guidance reduction
Wang said the company identified incentive alignment, recruiting and employee retention as key factors behind weaker closing rates, particularly at Bluegreen sales locations. The company took steps during and after the quarter to replace leaders at certain properties, update incentive plans and recruit experienced sales personnel.

At Bluegreen’s Orlando location, Hilton Grand Vacations installed a new leader, rebuilt the team and returned the site to sales growth in September, according to Wang. The company also made leadership changes in Myrtle Beach. Wang said sales trends reached their low point in August before improving in September and continuing to improve in October.

The company brought in more than 430 experienced salespeople during the prior four months, including 165 former HGV sales representatives, Wang said in response to analyst questions. It also added 350 employees with real estate experience. While newly hired sales representatives require time to ramp, management said turnover stabilized exiting the third quarter.

Hilton Grand Vacations also announced a sales leadership change, with Wang saying Mike Riley would lead the next phase of sales growth. Wang said the company is increasing its focus on more profitable lead channels and potential buyers with higher closing propensities, while considering new products and price tiers for certain customer segments.

The company now expects full-year adjusted EBITDA of $1.165 billion to $1.180 billion, down from prior guidance of $1.225 billion to $1.265 billion. Management expects full-year VPG to decline at a high-single-digit rate and contract sales to fall by a mid-single-digit percentage. For the fourth quarter, it expects VPG to decline in the mid-single digits and contract sales to decline in the low- to mid-single digits.

Quarterly profit supported by financing and accounting changes
Total revenue before cost reimbursements was flat from a year earlier at $1.3 billion. Adjusted EBITDA attributable to shareholders rose 4% to $313 million, while the margin excluding reimbursements increased 80 basis points to 25%.

The reported quarter included significant ASC 606 revenue recognition related to the company’s Ka Haku project after it obtained a certificate of occupancy. Hilton Grand Vacations recognized $536 million of previously deferred contract sales revenue and $240 million of associated direct expenses. Investor Relations Senior Vice President Mark Melnyk said excluding those net recognitions would reduce reported adjusted EBITDA attributable to shareholders by $296 million.

CFO Dan Mathewes said EBITDA also benefited from a lower provision for bad debt. The provision was 12.5% of owned contract sales, compared with 16.8% a year earlier. The result reflected improved credit performance and a consolidation of loan-loss allowance methodology following the integration of acquired businesses.

The methodology update resulted in a $55 million change in estimate to the company’s allowance for originated loans. Mathewes said Hilton Grand Vacations expects its provision rate to center around the mid-teens going forward, though it may fluctuate based on financing propensity, customer mix and underwriting factors. Under the prior methodology, the quarter’s provision rate would have been roughly 20%, he said.

Real estate profit increased 2% to $182 million, with the margin expanding 150 basis points to 28%, as the lower bad-debt provision more than offset sales-and-marketing deleverage. Real estate sales and marketing expense represented 51% of contract sales, up 440 basis points from the prior year.

Recurring businesses and member base expand
The company’s financing business posted 16% revenue growth to $149 million and $94 million in profit. Excluding amortization associated with acquired receivables portfolios, financing margins rose 300 basis points to 64%.

Hilton Grand Vacations’ resort and club business generated $196 million in revenue, up 2%, and $136 million in profit, with a 69% margin. The company’s consolidated member count was 716,000. Its HGV Max membership base increased 20% and exceeded 300,000 members.

Wang said the financing and club-and-resort businesses represent more than half of segment profit and provide high-margin, more predictable earnings streams. Rental and ancillary revenue increased 4% to $194 million, although developer maintenance fees contributed to a $7 million loss in that business during the quarter.

Management also highlighted inventory recapture as an increasingly important source of product. Cost of product was 9.4% during the quarter, supported by a higher mix of trust product sales from recaptured deeded inventory. Mathewes said the company now expects inventory spending of about $285 million for the year, $90 million below its prior estimate, and expects spending to remain below $300 million next year.

Cash flow, buybacks and balance sheet
Adjusted free cash flow was $63 million in the third quarter, representing a 20% conversion rate from EBITDA. Management maintained its expectation for full-year conversion in the lower half of its long-term 55% to 65% target range, supported by expected fourth-quarter securitizations and lower inventory spending.

The company repurchased 2.4 million shares for $110 million during the quarter and said it still expects to repurchase $600 million of shares for the full year. As of Oct. 22, it had $617 million remaining under its share repurchase plans.

As of Sept. 30, Hilton Grand Vacations had $684 million of liquidity, including $227 million of unrestricted cash and $457 million of revolver availability. Total net leverage was 3.87 times on a pro forma trailing-12-month basis, according to Mathewes.

About Hilton Grand Vacations (NYSE:HGV)Hilton Grand Vacations Inc NYSE: HGV is a global vacation ownership company that markets and sells vacation intervals, points-based memberships and related travel experiences. Its portfolio includes branded vacation ownership resorts and accommodations in popular leisure destinations, with products designed to provide members with recurring access to vacation properties.

The company also provides resort management, reservation and customer services, financing for vacation ownership purchases, and exchange and travel-planning services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Hilton Grand Vacations Right Now?Before you consider Hilton Grand Vacations, you'll want to hear this.

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BOZEMAN, Mont.--(BUSINESS WIRE)---- $FICO--FICO (NYSE: FICO), global analytics software leader, today announced that Fairway Home Mortgage, Movement Mortgage and Rate have enrolled in the FICO® Preferred Program and will continue to pull FICO® Scores across their mortgage lending operations. Together, the three lenders represent a broad cross-section of the mortgage market, from retail and digital mortgage lending to the correspondent and secondary markets. Their decision to join the Preferred Program de.

BNB Chain: Its network and bridge contracts were not affected by the Binance security incident, and on-chain funds remain safe.

According to an official statement from BNB Chain, BNB Smart Chain, opBNB, BNB Greenfield, and BNB Chain’s bridge contracts were not impacted by the recent Binance security incident, with all services running normally. On-chain funds on the network remain secure. BNB Chain stated it will support Binance and the team that has been addressing the security incident since last night. It emphasized that security and industry trust require collective efforts from all parties, and it will continue collaborating with ecosystem partners to safeguard this shared trust.

8 minutes ago

Analysis: Binance is currently replenishing its holdings of stolen altcoins, and may purchase tokens including XRP, SOL, UNI and others.

According to Binance CEO He Yi’s disclosure, Binance is acquiring altcoins that exactly match its stolen assets via over-the-counter (OTC) and on-exchange trading to complete its Proof of Reserves (PoR) process, and will update on progress once purchases are finalized. Combined with this statement and the already disclosed stolen asset records, these include 233.46 million XRP (valued at ~$296 million), 970,500 SOL (~$96 million), and 46.4 million TRX (~$16 million). Additionally, the hacker has dumped seven tokens—UNI, ENA, PEPE, LINK, AAVE, ONDO, WLD—converting them into 70,480 ETH for a total transaction value of ~$158.25 million. The dump amounts for UNI, ENA, PEPE, and LINK stand at ~$39.63 million, ~$33.93 million, ~$31.66 million, and ~$26.05 million respectively. Other stolen assets also include 74.56 million ARB (~$11.54 million), 714.911 million FUN (~$6.29 million), 87.853 million ZAMA (~$6.02 million), 3.602 million ZRO (~$5.69 million), and 3.382 billion RSR (~$5.02 million).

8 minutes ago

Synthetix: Has recovered the SNX tokens stolen from Binance, and will return them upon request.

Synthetix issued a statement noting that the SNX tokens stolen from Binance have been recovered by the Synthetix Protocol DAO, and are now safely held in the Protocol DAO’s Safe wallet. The protocol added that it has notified Binance, and will return the relevant tokens once it receives Binance’s request.

8 minutes ago

Analysis: Traders purchase Bitcoin put options following the Binance hack, with strike prices concentrated between $74,000 and $78,000

After the Binance hack, large traders ramped up their positions in Bitcoin put options for hedging. Nicolas Quatravaux, head of Europe, Middle East and Africa (EMEA) at Paradigm, said that within 8 hours of the incident, the notional value of BTC block trades on the platform reached roughly $590 million, equivalent to half of the related block trading volume on Deribit in the same period, with trades clearly skewed toward put options.
The first large trade took place at 20:38 UTC, before the news was made public: a purchase of put options covering 250 BTC, expiring October 31, with a strike price of $78,000, with a notional size of around $20 million. Three minutes later, another buy of the same contract incurred a cost about 35% higher.
Buy orders were mainly concentrated on strike prices between $74,000 and $78,000, with most expiring this week and mid-November. Notably, two put option trades expiring mid-November with a strike price of $74,000 each covered 1,000 BTC, totaling a notional size of around $155 million.
The report argues that this move is more of a hedge against further short-term pullbacks rather than a bet on an extreme market crash. Meanwhile, call options expiring in March were still being traded in the market, indicating not all traders are taking a defensive stance. Standard Chartered warned that market weakness could persist, and a new market bottom may not form until incident details are clarified and relevant exchanges and protocols unfreeze the involved tokens.

8 minutes ago

CZ: Token recovery efforts appear to have commenced, and Binance can naturally accumulate various tokens via transaction fees.

Binance founder CZ posted that the recovery of token assets appears to have started. He added that when users trade on Binance, they pay trading fees in the traded cryptocurrency, leading the exchange to naturally accumulate various tokens listed on its platform. CZ also emphasized: "User fund security!"

8 minutes ago

Trump: The war with Iran will end soon, no matter what form it takes.

U.S. President Donald Trump said the war with Iran will end soon, by whatever means.

8 minutes ago

HCA Healthcare Rallies: Weight-loss drugs really a big threat?ResMed NYSE: RMD reported first-quarter fiscal 2027 revenue of $1.4 billion, up 6% from a year earlier on a reported basis and 7% on a core constant-currency basis, as growth in sleep devices, masks and residential care software offset declines in life-support device sales. Non-GAAP diluted earnings per share rose 14% to $2.91.

Chairman and Chief Executive Officer Mick Farrell said the company began the fiscal year with revenue growth, a 50-basis-point expansion in gross margin and increased shareholder returns. During the quarter, ResMed repurchased approximately $936 million of stock and, including dividends, returned more than $1 billion to shareholders. The repurchases were funded by proceeds from the September divestiture of its MatrixCare business and cash on hand.

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Device, mask and software performance
In the Americas, sleep-device revenue increased 6% and masks and other revenue rose 10%, while life-support device revenue declined 94%. In markets outside the Americas, sleep-device revenue grew 13%, masks and other revenue increased 11%, and life-support device revenue fell 79%.

Chief Financial Officer Aaron Bloomer said international sleep-device growth was partly supported by a fleet-refresh cycle in France, where cloud-connected devices are subject to differentiated reimbursement. Farrell said the renewal activity, primarily involving upgrades from AirSense 10 to AirSense 11 devices, is expected to be weighted toward the first half of the fiscal year and create pressure in the second half as it concludes.

Residential care software revenue declined 7% on a reported basis but increased 5% on a constant-currency basis. Excluding MatrixCare, the remaining residential care software operations, Brightree and MEDIFOX DAN, grew 8%.

ResMed launched its AirCurve 11 ST and ST-A bilevel device platforms in the U.S. during the prior quarter. The platforms are designed for patients who need greater pressure support or who have more complex breathing disorders. The company also introduced the AirTouch F40 full-face mask, its third fabric-mask product. Farrell said ResMed data showed its previously launched fabric masks had a 6% increase in therapy adherence compared with silicone-mask equivalents.

Digital tools and patient engagement
Management highlighted updates to the myAir patient app, including revised therapy scores, a nightly timeline of events, controls for comfort settings and an Equipment Care feature intended to help patients manage replacement supplies. The app has been downloaded more than 13 million times, Farrell said.

ResMed’s generative artificial intelligence-powered digital sleep coach, Dawn, has received more than 2.1 million patient inquiries, up more than 40% from the previous quarter, according to Farrell. The company said its SmartComfort tool, which recommends personalized humidity and temperature settings for new AirSense 11 users, has shown a 4.3% increase in 30-day compliance in early real-world data compared with default device settings.

The company also discussed partnerships with sleep technology companies Eight Sleep and ŌURA. As of Sept. 30, approximately 28,000 ŌURA users had visited ResMed’s website through a customized tile in the ŌURA app, more than double the total at the end of July, Farrell said. Of users who completed a ResMed sleep assessment, roughly 72% identified themselves as previously undiagnosed for obstructive sleep apnea.

Management said these initiatives did not make a material contribution to first-quarter revenue. Farrell and Bloomer said the programs are intended to create more durable growth by improving the path from consumer awareness to diagnosis, prescriptions and long-term therapy adherence.

Margins, supply chain and Astral actions
Non-GAAP gross margin increased to 62.5%, driven by productivity gains in procurement, manufacturing and distribution, as well as favorable product mix. Those gains more than offset foreign-exchange headwinds.

Bloomer said first-quarter margin also benefited from the timing of supply-chain expansion investments, particularly costs related to the company’s new Indiana facility that are now expected to affect the second quarter. He said pricing made little contribution during the first quarter but is expected to build gradually through the year as the company implements global price increases.

ResMed has produced its first U.S.-made AirSense 11 device at its Atlanta facility. The company is also expanding its Indiana distribution center and its manufacturing operations in Singapore and Malaysia. Management said its goal is to achieve a similar delivered cost for products made in the U.S. as for imported devices, though startup and underutilization costs are expected during the ramp-up period.

The company is continuing its field safety corrective action for Astral ventilators and said it will no longer sell the device. ResMed is allocating available components to servicing existing Astral patients, with priority based on clinical acuity. The company previously recorded a $42 million reserve related to the action.

Outlook maintained
ResMed reiterated its fiscal 2027 guidance for core constant-currency revenue growth of 5% to 7%. The range includes an estimated 130-basis-point, or roughly $75 million, headwind from the decision to stop selling Astral. Excluding Astral, the company said the growth range would be 6.3% to 8.3%.

The company continues to expect reported fiscal-year revenue of $5.75 billion to $5.85 billion, assuming a roughly 60-basis-point foreign-exchange headwind. It maintained non-GAAP earnings-per-share guidance of $12 to $12.25, representing reported growth of about 7% to 10%. Excluding dilution from the MatrixCare divestiture and the Nidra acquisition, the company said its outlook implies core earnings-per-share growth of 12% to 14%.

For the second quarter, ResMed expects its customary mid-single-digit sequential increase in revenue, excluding two months of MatrixCare revenue included in the first quarter. It anticipates slightly lower sequential gross margin as expansion costs shift into the quarter, largely flat research and development expense, higher selling, general and administrative expense tied to marketing efforts, and roughly $10 million less net other income than in the first quarter.

ResMed also reaffirmed plans to return more than $1.85 billion to shareholders during fiscal 2027 through dividends and repurchases, while forecasting capital expenditures of $160 million to $180 million.

About ResMed (NYSE:RMD)ResMed Inc is a medical equipment and software company that develops solutions for sleep-disordered breathing, respiratory conditions and other chronic diseases. The company is best known for its positive airway pressure (PAP) devices used to treat obstructive sleep apnea, along with masks, accessories and related patient support services.

ResMed also provides cloud-connected health technology, including remote-monitoring platforms and software used by healthcare providers, medical equipment suppliers and care organizations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in ResMed Right Now?Before you consider ResMed, you'll want to hear this.

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Mails Letter to Shareholders and Highlights Board's Commitment to Accountability and Disciplined Oversight of Strategic ExecutionBoard Determined Oasis Management's Director Nominees Lack the Qualifications Necessary to Advance Vail Resorts' Strategy and Enhance Value CreationUrges Shareholders to Vote "FOR" ONLY Vail Resorts' Highly Qualified Director Nominees at the Upcoming Annual Meeting Visit Vote.VailResorts.com For More Information, /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today filed its definitive proxy statement with the U.S. Securities and Exchange Commission in connection with the Company's upcoming Annual Meeting of Stockholders (the "Annual Meeting") scheduled to be held on December 14, 2026. Shareholders of record as of October 19, 2026, will be entitled to vote at the meeting.

The Vail Resorts Board of Directors mailed the following letter to shareholders:

Dear Fellow Shareholders,

Over the last 17 months, your Board and management team have executed a clear strategy to return the Company to sustainable earnings growth and drive long-term shareholder value—and it's beginning to deliver results.

Oasis Management, in collaboration with Matthew Prince, has nominated four candidates who we believe lack the experience and judgment required to oversee this strategy and who would put our progress at risk. That is why your vote on the WHITE proxy card "FOR" ALL of Vail Resorts' nine highly qualified director nominees is extremely important at this year's Annual Meeting.

As an experienced, refreshed Board, we have acted decisively to adjust the Company's strategy, including modernizing its marketing approach, introducing new pass and lift-ticket products and pricing options, and launching the Epic Experience growth strategy. Following one of the most challenging winters in history across the western U.S., the Company achieved record guest satisfaction, increased lift-ticket market share, and is outperforming the industry in pass sales for the upcoming season.1

Epic Experience is designed to build on this progress and drive guest loyalty and the next phase of growth by delivering a more seamless, personalized, and differentiated guest experience—something the Company is uniquely positioned to do with its integrated network of 42 owned and operated resorts, marketing capabilities, and investments in talent and technology.

These initiatives are only just starting to demonstrate their potential, and we should not disrupt our progress toward delivering long-term shareholder value. Oasis Management has presented four unqualified dissident candidates, two of whom were introduced to Oasis Management by Mr. Prince approximately one week before their nominations. This connection is concerning, as Mr. Prince has long advocated for dismantling Vail Resorts' integrated network, one of the Company's most important strategic advantages. He has made his agenda clear: stating publicly that he would like an activist to take over the Board and sell Park City Mountain to him. Mr. Prince's connection to Oasis Management and its nominees raises serious questions about the independence and judgment of all their nominees and the true motives of their campaign.

With the addition of self-nominated shareholder Gregory Syvert Meyer, the five dissident nominees present serious governance concerns and collectively lack relevant experience and qualifications. In contrast, Vail Resorts' highly qualified Board, with the right mix of skills and expertise, has taken meaningful action to drive growth, strengthen leadership, and deliver results.

We are encouraged by the confidence of our fellow shareholders, including Ron Baron, our largest and 30-year shareholder, who said:

"Baron Capital will vote for Vail Resorts' nominees. Under the proven leadership of CEO Rob Katz, I believe that Vail Resorts has the right strategy to return to sustainable earnings growth and that there are meaningful opportunities that are not reflected in the stock today. This includes capturing more revenue through enhanced rental equipment and ski school offerings, and increasing engagement through continued investment in technology, mountain infrastructure, and the guest experience.

I do not believe the Oasis nominees would serve the best long-term interests of investors and strongly oppose their candidacies. I also have serious concerns about Oasis' coordination with Matthew Prince. I believe Prince's self-interested demand that the Company sell him Park City, one of its most iconic mountains, is short-sighted and destructive to long-term shareholder value. That alone taints my view of anyone Oasis recommends for the Board, including Bob Chapek. Vail Resorts' opportunity is in using the full power of its network of irreplaceable resorts, not dismantling it."2

I. The Vail Resorts Board and Management Team Recognized the Need to Change—and Acted

Over the past 17 months, the Board and management have acted decisively to strengthen Vail Resorts and position the Company for sustained growth. Across leadership, marketing, pricing and product strategy, growth and efficiency, they have taken significant actions designed to strengthen the business for the long term while addressing near-term opportunities.

In May 2025, the Board brought Executive Chair Rob Katz back as CEO. From 2006 to 2021, his prior tenure as CEO, Mr. Katz transformed Vail Resorts, pioneering and scaling the Epic Pass and building the Company's integrated network of irreplaceable resorts. His leadership during this time delivered sustained growth in revenue, profitability, and cash generation, with Vail Resorts generating approximately 12x total shareholder return, compared with roughly 4x for the S&P 500, and ranking as the top performer in the travel sector.

In less than a year, Mr. Katz and the management team evolved marketing and pricing strategies to better meet guests where they are, introducing Epic Friend Tickets and Super Advanced Lift Tickets to grow lift-ticket visitation and drive long-term guest lifetime value; took a more individualized approach to lift ticket pricing across resorts to better respond to demand periods; and launched new pass products and pricing optimization with Young Adult and Teen pricing.

The Company also announced in November 2025 that it hired Celeste Burgoyne3 into the newly created role of Executive Vice President and Chief Revenue Officer. Burgoyne brings significant experience scaling global brands and driving growth; a deep appreciation for the connection between brand, guest experience, and digital engagement; and a personal connection to Whistler Blackcomb, Vail Resorts' largest resort. These attributes are critical to driving revenue growth and leveraging our marketing strengths.

II. The Board's Actions are Showing Early Results

Vail Resorts' actions are already translating into measurable progress. Despite the historic weather challenges this past season, the Company achieved record guest satisfaction scores and strong employee engagement and retention. Its new marketing approach—increased paid media investment, a broader social-media presence, and more resort-focused storytelling—as well as its lift-ticket product and pricing initiatives, helped the Company to outperform the broader industry in lift-ticket visitation during Fiscal 2026. For the coming season, third-party data indicates the Company is outperforming the broader industry in pass sales, particularly on comparable unlimited products.

III. Vail Resorts Has the Right Strategy and Structural Advantages for Long-Term Success

The Company is uniquely situated to transform the guest experience because of the scale, technology, and integrated resort network it has strategically built over time. Through Epic Experience, the Company is leveraging those advantages to increase loyalty, visitation, and guest lifetime value. Announced in July 2026, the strategy centers on making every part of the mountain journey more seamless, personalized, and memorable, so that guests are inspired to return.

That starts with how Vail Resorts reaches and engages guests through a seamless digital journey. The My Epic app is expanding into a digital companion, bringing planning, purchasing, and in-resort engagement to a single platform, which now includes native in-app commerce and the ability to use your phone as your lift ticket or pass, a first for the ski industry.

My Epic Gear extends that digital experience to how guests access equipment, with Pick Your Own demo gear and an updated web platform this season, and broader personalization, fulfillment, and app integration planned for Fiscal 2028 that we expect will transform the entire gear experience for renters and owners. It dramatically improves a critical component of the ski day by leveraging the Company's integrated network to differentiate the experience, drive capture, and deepen loyalty.

Epic Experience also extends to ski school, where Vail Resorts is digitizing arrival and guest communications while elevating the private-lesson experience through Epic Ascent, including concierge support, gear lounges, and personalized trip planning. The Company is also improving the on-mountain dining experience through investments in higher-quality ingredients, presentation, and technology.

At the heart of all these initiatives are the employees who deliver the guest experience, which is why our continued investment in training, development, engagement, and retention for frontline employees is a key part of the Epic Experience strategy. One of the Company's best proof points in its ability to deliver on Epic Experience is the turnaround the Company has seen in the hiring and selection of frontline seasonal talent, which has gone from a pain point to a towering strength in just four years.

Enabling these investments is the Company's continued execution of its Resource Efficiency Transformation Plan, which is on track to exceed its original $100 million target. The Company has identified an additional $30 million of technology-related opportunities by Fiscal 2028, and has begun deploying artificial intelligence to simplify work, drive innovation, improve outcomes, and create additional capacity for employees to focus on elevating the guest experience.

The focus on execution builds on years of disciplined capital investment to transform the guest experience. From 2016 to 2025, the Company invested over $2 billion of capital across its resorts, $700 million of which was at its six largest destination resorts, including Park City Mountain. We have continued to balance capital allocation with returning capital to shareholders, maintaining a dividend through one of the most challenging weather years in history and taking an opportunistic approach to share buybacks, repurchasing approximately 5.22 million shares (representing approximately $1.04 billion in capital returns, excluding accrued excise tax) between Fiscal 2022 and 2026.

IV. Vail Resorts Has the Right Board for its Next Phase of Growth

Your Board combines deep knowledge of Vail Resorts' resort network and season-pass business model with relevant expertise across hospitality, consumer businesses, digital innovation, finance, governance, and talent development. These complementary perspectives are directly relevant to the Company's next phase of growth, including building guest loyalty, strengthening marketing, driving revenue generation, improving operational execution, and allocating capital with discipline.

The Board has also continued to refresh its composition, having welcomed one-third of its directors in the past three years alone. In 2024, the Board appointed Reginald Chambers, a proven transformation leader at the Teachers Insurance and Annuity Association of America, and Iris Knobloch, an international executive specializing in global consumer, media, and hospitality, and current President of the Cannes Film Festival. In August 2026, the Board appointed William Hornbuckle, CEO of MGM Resorts International, who brings decades of hospitality, loyalty, digital innovation, and guest experience expertise. In September 2026, we announced Sue Decker's intent to step down from the Board after 11 years of service. Our Nominating & Governance Committee is conducting an independent-director search with a leading executive search firm, which we expect to complete in early 2027. Once this new director has been appointed, four independent directors will have been added in three years. The committee considered Oasis Management's candidates in this search process, and for the reasons detailed below determined that they lacked the necessary skills.

This is what accountability looks like: recognizing room to improve and taking action.

V. The Oasis Management Nominees Risk Disrupting our Strategy

The Board values input from all shareholders and, for more than a year, engaged extensively and constructively with Oasis Management on the Company's strategy, operations, pricing, marketing, guest experience, and Board composition, including considering its ideas and meeting with multiple director candidates they proposed in August 2026.

While Oasis Management ultimately chose to nominate a competing slate of directors, they have yet to offer a credible plan to improve shareholder returns. More concerning though, is that two of their nominees, Mr. Roberts and Ms. Street, were introduced to Oasis Management by Mr. Prince about one week before they were formally nominated. Mr. Prince is running a very public campaign against the Company to advance his goal of breaking up our network of resorts so he can acquire Park City Mountain for himself.

These connections to Mr. Prince present a clear conflict and call into question the judgment of Oasis Management, the independence of their nominees, and the true motive of their campaign. Within hours of Oasis Management filing its preliminary proxy statement, a ski-industry podcast interview featuring Mr. Prince was released, in which he discussed his longstanding objective to acquire Park City Mountain, noting that he knew certain Oasis Management nominees, and describing how they could seek to change Vail Resorts' strategic direction, get the Company to engage with Mr. Prince on a potential sale and/or replace our CEO, Mr. Katz. After the Board completed its interviews of the Oasis Management nominees, Mr. Prince appeared on a podcast and stated that he had "insight" into some of the Board conversations with Oasis.4 Mr. Prince then publicly disclosed—and mischaracterized—details from the Board's interview of Mr. Roberts, who then subsequently reiterated Mr. Prince's comments on social media, indicating collaboration between Oasis Management and Mr. Prince.5'6

Despite this, and in line with strong governance practices, the Board conducted a thorough interview and evaluation of all dissident nominees, including self-nominated shareholder, Gregory Syvert Meyer, and the four Oasis Management nominees: Robert Chapek, M. Ashton Hudson, Bryce Roberts, and Picabo Street. Following that process, the Board determined that all of Oasis Management's nominees and Mr. Meyer lack the necessary qualifications and characteristics to advance the Company's strategy and enhance value creation.

None of the dissident nominees offered any new or compelling ideas, views or perspectives regarding the Company's strategic direction, execution of its business plan, technological innovation, or sustainability efforts. Aside from Mr. Hudson, none of the dissident candidates showed any awareness of the Company's recently announced strategic initiatives.

Four of the five dissident nominees lack relevant industry or meaningful professional experience, which is particularly important given the complexity of overseeing an integrated network of 42 owned and operated resorts and approximately 50,000 employees around the world. Specifically, neither Mr. Roberts nor Ms. Street have operational experience running any business or serving on any prior public company board. As for Mr. Hudson, his only operational experience is running a private pest control company, over eight years ago. He claimed the Board would benefit from his capital allocation experience—but could not articulate any specific changes he would make to the Company's current approach or cost structure.

With respect to Mr. Chapek, the Board has serious concerns that in his first interview with Mr. Katz, Mr. Chapek represented that he would not be part of a contested activist fight, and was not forthcoming about the fact that he had already entered into an agreement with Oasis Management, under which he had contractually committed "to be nominated to join the new Board of the Company" and to be an active participant in a full proxy fight. The Board also questioned whether Mr. Chapek could represent the interests of all shareholders independently given the significant compensation he is currently receiving from Oasis Management for his advisory services.

While Mr. Chapek possessed relevant industry experience, though dated at this point, the Board also had concerns regarding the circumstances surrounding his termination from Disney and that during Mr. Chapek's interview, he did not demonstrate thoughtful reflection regarding the shortcomings and challenges of his tenure as CEO. Further, the Board had concerns regarding Mr. Chapek's decision to serve on the board of Masimo, a public company that Institutional Shareholder Services (ISS) described as having board governance that was "firmly among the most troubling of any modern public company," as well as Mr. Chapek's current service on another board of a company founded by the former founder, chairman, and CEO of Masimo, all of which raised questions regarding Mr. Chapek's ability to drive strong corporate governance in the interest of all shareholders. When asked in his interview about the 2024 ISS report, Mr. Chapek downplayed the significance of ISS commentary.

Finally, the Board was concerned about Mr. Chapek's decision to write a tell-all book on his time as CEO and a director of Disney, which may call into question his ability to protect the confidentiality of Board deliberations and decisions. Further, in his interview Mr. Chapek did not demonstrate basic knowledge of the Company's services, products, and strategic initiatives, including its recent announcements relating to Epic Experience.

Vail Resorts will continue to listen to shareholders and evaluate opportunities to improve execution and enhance value. We firmly believe Oasis Management's campaign is disruptive, ill-informed, and risks undermining the progress already underway. Shareholders should evaluate all the dissident nominees against a Board that has already been meaningfully refreshed and has taken meaningful action to drive change. We are confident that Vail Resorts is better served by allowing its leadership team to execute the plan they have in place.

Vote TODAY "FOR" ALL of Vail Resorts' Highly-Qualified Director Nominees on the WHITE Proxy Card

Vail Resorts has the right Board, leadership, and strategy in place to build on its unique advantages and deliver stronger long-term performance. The Company has acted with urgency, and we are encouraged by our early results and the substantial opportunities ahead. Disrupting this progress now would put shareholder value at risk.

We encourage you to support the Board that is driving Vail Resorts forward and delivering on its commitments to shareholder value creation. Protect the value of your investment and use the WHITE proxy card or WHITE voting instruction form to vote "FOR" ALL of Vail Resorts' nine (9) director nominees: Reginald A. Chambers, William J. Hornbuckle, Robert A. Katz, Iris Knobloch, Nadia N. Rawlinson, Michele Romanow, Hilary A. Schneider, D. Bruce Sewell, and Peter A. Vaughn.

Sincerely,
Your Vail Resorts Board of Directors

YOUR VOTE IS IMPORTANT, NO MATTER HOW MANY SHARES YOU OWN.
Whether or not you plan to attend the Annual Meeting, your Board recommends you vote using the WHITE proxy card provided by management to vote "FOR" the nominees
and proposals recommended by your Board, as soon as possible.

If you have already submitted a blue proxy card, or a proxy card of any other color, you may revoke that vote by voting again using Vail Resorts' WHITE proxy card. Only your latest-dated valid proxy
will be counted at the Annual Meeting.

If you have any questions or require assistance with voting your WHITE proxy card, please contact our proxy solicitation firm, Okapi Partners via Email: [email protected]

Banks and Brokerage Firms, Please Call: (212) 297-0720 | Shareholders and All Others Call Toll-Free: (855) 208-8903

About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts operates a network of 42 iconic mountain resorts across North America, Europe and Australia. Our portfolio includes premier destinations such as Vail Mountain, Beaver Creek, Breckenridge, Park City Mountain, Whistler Blackcomb, Keystone; beloved regional mountains like Stowe, Heavenly and Northstar; and local resorts close to metro areas that help to introduce the next generation of skiers and riders to the sport. Together, these resorts provide guests with an unmatched range of mountain experiences connected through the Epic Pass. We are passionate about providing an Experience of a Lifetime to our team members and guests. Through our environmental and social responsibility work, we are committed to reaching a zero net operating footprint by 2030, supporting our employees and communities, and broadening engagement in our sport. Beyond our resorts, Vail Resorts operates industry-leading ski and ride school programs, rental operations, distinctive dining and hospitality experiences, retail operations, and the Grand Teton Lodge Company. Learn more about our company at www.VailResorts.com, or discover our resorts and Pass options at www.EpicPass.com.

Forward-Looking Statements
Certain statements discussed in this press release, other than statements of historical information, are forward-looking statements within the meaning of federal securities laws, including statements regarding our expected growth through our Epic Experience strategy. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, risks related to the anticipated contested director election at the 2026 Annual Meeting and related shareholder activism; a prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries and our business and results of operations; unfavorable weather conditions or the impact of natural disasters or other unexpected events; the willingness or ability of our guests to travel due to terrorism, the uncertainty of military conflicts or public health emergencies, and the cost and availability of travel options and changing consumer preferences or discretionary spending habits; the seasonality of our business combined with adverse events that may occur during our peak operating periods; and the other risks and uncertainties described in the Company's filings with the SEC, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Except as required by law, we undertake no obligation to update any forward-looking statements.

Important Additional Information and Where to Find It
On October 30, 2026, Vail Resorts, Inc. ("Vail Resorts") filed its definitive proxy statement on Schedule 14A (the "Definitive Proxy Statement") and accompanying WHITE proxy card with the U.S. Securities and Exchange Commission (the "SEC") in connection with its 2026 annual meeting of stockholders (the "2026 Annual Meeting") and its solicitation of proxies for the election of Vail Resorts' director nominees and for other matters to be voted on. This press release is not a substitute for the Definitive Proxy Statement or any other document that Vail Resorts has filed or may file with the SEC regarding its solicitation of proxies for the 2026 Annual Meeting. SHAREHOLDERS OF VAIL RESORTS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ACCOMPANYING WHITE PROXY CARD AND ANY OTHER RELEVANT DOCUMENTS THAT HAVE BEEN FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT VAIL RESORTS AND THE MATTERS TO BE VOTED ON AT THE 2026 ANNUAL MEETING. Shareholders may obtain free copies of the Definitive Proxy Statement and other documents (including the WHITE proxy card) that were filed or will be filed by Vail Resorts with the SEC from the SEC's website (http://www.sec.gov), from the investor relations section of Vail Resorts' website (http://investors.vailresorts.com), or by emailing Connie Wang at [email protected].

1 Vail Resorts, Inc., "Vail Resorts Reports Fourth Quarter and Full Year Fiscal 2026 Results and Provides Fiscal 2027 Outlook," September 28, 2026.
2 Ron Baron, "Message from Ron Baron in Support of Vail Resorts," Baron Capital, October 30, 2026. permission to use quotation neither sought nor obtained
3 Commenting on her appointment, a Stifel sell-side analyst wrote: "…we expect her experience cultivating brand loyalty in the hyper-competitive retail space will prove valuable as MTN transitions from a mostly centralized marketing strategy to more resort-specific tapping into mountain-level guest affinity." permission to use quotation neither sought nor obtained
4 The Storm Skiing Journal and Podcast (10.13.26)
5 The Nomination Agreement between Oasis Management and Mr. Roberts provides that Mr. Roberts "will not issue, publish or otherwise make any public statement or any other form of public communication relating to the Corporation, the Campaign or the Proxy Solicitation without the prior written consent of Oasis."
6 TBPN Podcast (10.22.26)

SOURCE Vail Resorts, Inc.

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