Market Signal Briefing

As the market bounces from the recent lows, Dogecoin (DOGE) is attempting to turn a crucial area back into support. Some analysts have highlighted that the cryptocurrency could be repeating its past performances, which could lead to a massive move in the coming months.

Pump.fun has brought Polymarket, Delphi Digital, and Pantera Capital on board as advisors for its $3 million Build in Public hackathon.

Summary

Pump.fun launched a $3 million hackathon focused on building products in public. Advisors will support teams through feedback and visibility, not judging. Funding decisions are guided by open market activity and user traction. Pump.fun has appointed advisors from several prominent crypto firms for its new Build in Public hackathon, a $3 million initiative designed to support founders who launch and grow projects transparently.

The development was announced on Jan. 28 via a media release shared with crypto.news. Pump,fun’s new initiative is structured around a simple idea. Builders ship early, share progress publicly, and let real market activity determine which projects gain traction and funding. 

Pump.fun said the hackathon is open to founders at any stage, from early concepts to live products. Applications opened on Jan. 19 and close on Feb. 18, with some teams expected to secure funding before the deadline.

Advisors join as market participants, not judges The advisory group brings together executives and investors from across the crypto industry, including Polymarket, Delphi Digital, Pantera Capital, Kraken, Jump Crypto, Manifold Ventures, Arca, Draper Investments, Helius, Privy, and 6th Man Ventures.

Crypto’s BIGGEST Advisors are joining the Pump fun BiP Hackathon!

Now is your chance to access the most successful & biggest thinkers in crypto & beyond, as well as the chance to receive a part of the $3M investment from Pump Fund, regardless of your stage

Meet the Advisors 👇 pic.twitter.com/LoaymLUB1c

— Pump.fun (@Pumpfun) January 28, 2026 According to Pump.fun, advisors will engage with projects in public, share feedback, and help promising teams gain attention and distribution. They will not score applications or formally select winners. Instead, market momentum will serve as the primary signal.

Alon, co-founder of Pump.fun (PUMP), said the approach reflects how product development has evolved. While AI tools have lowered the barrier to building software, he noted that access to early-stage funding remains difficult. The aim, he said, is to let builders demonstrate demand first and allow capital to follow proven traction.

Delphi Digital co-founder Anil Lulla echoed that view, pointing to the growing importance of building in public and learning directly from users. As software creation becomes more accessible, he said, market response, rather than private pitch meetings, often reveals which ideas have staying power.

Funding structure and build-in-public approach The hackathon will allocate $3 million across 12 selected teams, with funding delivered through token-based deals. Participants must launch a token on Pump.fun, retain a portion of the supply to remain aligned with users, and share regular updates throughout the build process.

Projects are organized into three tracks based on maturity, ranging from early-stage ideas to working products with initial revenue signals. The program is open to both crypto-native and non-crypto teams, provided founders are willing to operate transparently and let usage, trading activity, and community engagement guide outcomes.

Pump.fun said it has already received applications across areas such as prediction markets, consumer apps, decentralized finance, trading infrastructure, developer tools, and AI-driven on-chain products.

Scan QR code to install app

Important DisclaimersFXEmpire is owned and operated by Empire Media Network LTD., Company Registration Number 514641786, registered at 7 Jabotinsky Road, Ramat Gan 5252007, Israel. The content provided on this website includes general news and publications, our personal analysis and opinions, and materials provided by third parties. This content is intended for educational and research purposes only. It does not constitute, and should not be interpreted as, a recommendation or advice to take any action, including making any investment or purchasing any product. Before making any financial decision, you should conduct your own due diligence, exercise your own discretion, and consult with competent advisors. The content on this website is not personally directed to you, and we do not take into account your individual financial situation or needs. The information contained on this website is not necessarily provided in real time, nor is it guaranteed to be accurate. Prices displayed may be provided by market makers and not by exchanges. Any trading or other financial decision you make is entirely your own responsibility, and you must not rely solely on any information provided through the website. FXEmpire does not provide any warranty regarding the accuracy, completeness, or reliability of any information contained on the website and shall bear no responsibility for any trading losses you may incur as a result of using such information. The website may include advertisements and other promotional content. FXEmpire may receive compensation from third parties in connection with such content. FXEmpire does not endorse, recommend, or assume responsibility for the use of any third-party services or websites. Empire Media Network LTD., its employees, officers, subsidiaries, and affiliates shall not be liable for any loss or damage resulting from your use of the website or reliance on the information provided herein.Risk DisclaimersThis website contains information about cryptocurrencies, contracts for difference (CFDs), and other financial instruments, as well as about brokers, exchanges, and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and involve a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. FX Empire encourages you to conduct your own research before making any investment decision and to avoid investing in any financial instrument unless you fully understand how it works and the risks involved.

Crypto research firm CryptoQuant has flagged a potentially troubling development for Bitcoin (BTC) and the wider digital asset market, pointing to an early warning signal that has historically appeared ahead of prolonged downturns. 

In a report released Wednesday, the firm noted that Bitcoin’s supply in loss metric has begun to rise again, a shift that has often marked the early stages of past bear markets.

Possible Shift Toward Bear Market Structure According to analysis by CryptoQuant contributor Woominkyu, increases in supply held at a loss tend to signal that market weakness is spreading beyond short‑term traders and gradually affecting longer‑term holders.

In previous market cycles, including 2014, 2018, and 2022, this indicator started trending upward well before prices reached their eventual lows. 

During those periods, Bitcoin prices continued to decline even after the metric turned higher, with true market bottoms forming only once supply in loss expanded much further and broader capitulation set in.

BTC supply in loss. Source: CryptoQuant At present, CryptoQuant notes that Bitcoin’s supply in loss remains well below levels typically associated with full market capitulation. However, the change in direction itself is significant. 

The analysts say it suggests the market may be shifting into a bearish structural phase, rather than experiencing a brief correction within an ongoing bull market.

Bitcoin’s recent price action appears to reflect that uncertainty. The asset is currently trading around $89,700 and has struggled to reclaim the key $90,000 level as support. 

The 1-D chart shows BTC’s inability to reclaim and consolidate above the key $90,000 level. Source: BTCUSDT on TradingView.com This follows a steady decline from earlier yearly-highs near $98,000, where upward momentum faded as buying pressure weakened and gains recorded at the start of the year were fully erased.

US Dollar Tests Historic Zone For Bitcoin Rallies Despite these cautionary signals, not all analysts believe the outlook is entirely negative. Analysts at Bull Theory have highlighted a potentially bullish catalyst that could emerge in the months ahead, centered on movements in the US dollar. 

In a recent post on social media platform X (previously Twitter) the firm pointed out that the US Dollar Index is testing the same zone that preceded major Bitcoin bull runs in both 2017 and 2021.

According to their analysis, the Dollar Index has broken below a long‑term trendline that has held for roughly 16 years and is now hovering around the critical level of 96. Historically, periods when the DXY fell below 96 and remained there coincided with strong Bitcoin rallies. 

As seen in the chart below, in mid‑2017, the index dropped under that level, after which Bitcoin surged nearly eightfold over the following five to six months. A similar pattern played out during the 2020 pandemic era. 

Bitcoin’s historical rallies against the US dollar’s performance. Source: Bull Theory on X When a wave of liquidity entered financial markets at the time, the DXY again slipped below 96, and Bitcoin went on to rise roughly seven times over the next seven to eight months. During that same period, Ethereum (ETH) and many altcoins posted gains of tenfold or more.

For now, the market sits at a crossroads. On‑chain data points to early bear‑market dynamics, while macro signals linked to the US dollar offer a counter‑narrative that could favor renewed strength. 

Featured image from OpenArt, chart from TradingView.com 

Dogecoin corrected some gains and traded below $0.1220 against the US Dollar. DOGE is now holding the $0.120 support but might decline further.

DOGE price started a fresh downside correction from $0.1275. The price is trading below the $0.1225 level and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $0.1245 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could aim for a fresh increase if it remains stable above $0.1200. Dogecoin Price Trims Gains Dogecoin price started a downside correction after it failed to clear $0.1275, like Bitcoin and Ethereum. DOGE declined below the $0.1250 and $0.1245 levels.

There was a move below the 50% Fib retracement level of the upward move from the $0.1175 swing low to the $0.1275 high. Besides, there was a break below a bullish trend line with support at $0.1245 on the hourly chart of the DOGE/USD pair.

Dogecoin price is now trading below the $0.1225 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1235 level. The first major resistance for the bulls could be near the $0.1250 level.

Source: DOGEUSD on TradingView.com The next major resistance is near the $0.1275 level. A close above the $0.1275 resistance might send the price toward $0.1350. Any more gains might send the price toward $0.1380. The next major stop for the bulls might be $0.1420.

More Losses In DOGE? If DOGE’s price fails to climb above the $0.1250 level, it could continue to move down. Initial support on the downside is near the $0.120 level and the 76.4% Fib retracement level of the upward move from the $0.1175 swing low to the $0.1275 high.

The next major support is near the $0.1192 level. The main support sits at $0.1150. If there is a downside break below the $0.1150 support, the price could decline further. In the stated case, the price might slide toward the $0.1080 level or even $0.1050 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.1200 and $0.1150.

Major Resistance Levels – $0.1250 and $0.1275.

Higher oil prices could add to inflation, making it harder for the Fed to cut rates rapidly.Updated Jan 29, 2026, 5:27 a.m. Published Jan 29, 2026, 5:22 a.m.

For bitcoin BTC$88,108.15 bulls, it feels like one setback after another. First precious metals like gold and silver surged to record highs, sucking capital away from the crypto market. And now oil's starting to surge too, threatening to skew macroeconomic forces in favor of bitcoin bears.

The per barrel price for the West Texas Intermediate (WTI) crude, a type of light, sweet crude from Texas fields serving as benchmark for North American energy pricing, has risen by 12% to $64.30 this month. That's the highest price since September. It's European and international benchmark, Brent, has seen a similar rise to $68.22.

STORY CONTINUES BELOW

This is bad news for bitcoin bulls counting on steady inflation and lower interest rates in the U.S. and other parts of the world to reignite the rally. Bitcoin peaked above $126,000 in early October and has since dropped to under $90,000.

Oil feeds into inflationOil is a key ingredient in everyday goods and services, so when its price rises, it raises costs across the board. Higher oil makes gasoline pricier raising transport costs for everything, including food deliveries, clothes, electronics and more. These costs are then passed on the final consumer, raising the general price level in the economy.

This, in turn, leads to workers asking higher wages to keep up with rising inflation, leading to a self-fulfilling cycle where salaries climb, companies then raise prices even more.

"We find that oil price pass-through to inflation is both economically and statistically significant, and that it occurs both directly and through second-round effects," Federal Reserve's explainer says. "Higher energy prices can also raise consumer and business expectations for future inflation, indirectly raising food and core prices now."

Central banks typically react to rising inflation by hiking borrowing costs, making credit and money pricier across the board, just as the Fed did in 2022 when it rapidly raised interest rates to tame inflation. Bitcoin fell by 64% that year, with the so-called Fed tightening playing a major role in destabilizing the asset.

The latest oil price upswing comes as the Fed grapples with fresh inflation worries. On Wednesday, the central bank kept interest rates unchanged in the target range of 4.5% to 4.75%, and said inflation remains “somewhat elevated” due to President Donald Trump's tariffs – taxes on goods imported from abroad.

According to ING, the accompanying statement and press conference suggested that the Fed is "more confidence that the policy easing cycle is close to a conclusion."

In other words, the Fed sees no rush to cut rates, and rising oil could firm up its stance against quick liquidity easing.

Why is oil rallying?Fears of Trump striking Iran, a major oil producer, plus shrinking U.S. inventories are pushing oil prices higher.

In a Truth Social post Wednesday, Trump said that a massive Armada was headed towards Iran and made references to Venezuela, which the US military raided early this month. He asked Iran to make a deal on nuclear weapons or face a "far worse" U.S. attack.

Iran retaliated to Trump's threat by vowing to "respond like never before," while highlighting the human and economic cost of a potential U.S. adventure.

At the same time, the U.S. Energy Information Administration (EIA) data released Wednesday showed that oil inventories in the U.S. decreased by 2.3 million barrels during the week ended Jan. 24.

Dropping oil inventories typically signal stronger demand outpacing supply, where refineries pull more from stocks to meet needs.

More For You

Pudgy Penguins: A New Blueprint for Tokenized Culture

Dec 30, 2025

Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.

What to know:

Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.

The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.

More For You

Bitcoin trader warns of downside as gold rally continues to pull focus from BTC

3 minutes ago

Crypto prices stabilized after an early-week dip, but bitcoin continued to trail gold and silver as macro trades dominated after the Fed’s policy hold.

What to know:

Bitcoin hovered around $89,100 after the Federal Reserve left interest rates unchanged, with trading subdued despite modest gains in ether, solana, BNB and dogecoin.A sharp rebound in the U.S. dollar and continued strength in commodities, especially record-high gold and elevated silver and copper, have overshadowed crypto markets.Analysts say bitcoin is trading more like a high-beta risk asset than a macro hedge, stuck in a bearish consolidation about 30 percent below its October peak and struggling to break above key resistance near $89,000.

Bitcoin traded down on Wednesday as gold rallied 4.4% over 24 hours, adding a massive $1.65 trillion to its market cap in a single day. 

Gold breached $5,500 per troy ounce, bringing it to a new all-time high, while its total market cap rose to $38.77 trillion, with the single-day increase nearly matching Bitcoin’s (BTC) $1.75 trillion market cap, Infinite Market Cap data shows.

Silver is on a tear too, having rallied 21.5% over the last week to a $6.6 trillion market cap, further expanding its lead on Nvidia — the largest publicly traded company — in the process.

Largest assets by market cap. Source: Infinite Market Cap
The multi-month precious metals rally — seen as a result of the “debasement trade” — has been in contrast to Bitcoin’s lackluster performance, despite arguements BTC should also behave like a safe haven asset. 

The price of Bitcoin has struggled to lift since early October, when it was hit by a crypto market crash that saw more than $19 billion worth of positions liquidated.

Before that Oct. 10 crash, investors were increasingly embracing the idea that Bitcoin and gold would serve as debasement trades during periods of fiscal irresponsibility and monetary expansion.

The current gap between gold and Bitcoin is more apparent when looking at a five-year timeframe, with gold outperforming Bitcoin over the last five years, having risen 173%, while Bitcoin is up only 164%.

Bitcoin could be undervalued, institutional investors sayHowever, a Coinbase survey released earlier this week found that 71% of 75 institutional investors think Bitcoin is undervalued when priced between $85,000 and $95,000.

About 80% of the institutional investors said they would either hold their crypto positions or buy more in response to another 10% crypto market fall, signaling long-term conviction in the asset class.

Bitcoin, gold sentiment on opposite ends of spectrumThe difference in investor confidence between Bitcoin and gold has also been reflected in sentiment indexes. 

The Crypto Fear & Greed Index, which measures Bitcoin and broader crypto market sentiment, is currently 26 out of 100, in the “fear” zone, while JM Bullion’s Fear & Greed Index score for gold is 99 out of 100, in the “extreme greed” zone.

Source: JM Bullion
Magazine: Davinci Jeremie bought Bitcoin at $1… but $100K BTC doesn’t excite him

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Crypto prices stabilized after an early-week dip, but bitcoin continued to trail gold and silver as macro trades dominated after the Fed’s policy hold.Updated Jan 29, 2026, 5:41 a.m. Published Jan 29, 2026, 5:28 a.m.

Bitcoin BTC$88,154.07 remains under pressure as strong dollar and rising commodities steal spotlight from the crypto market.

The premier token slipped below $88,500 on Thursday after briefly trading above $89,000 earlier in the session, extending a choppy week of price action. Ether ETH$2,951.33 fell back toward $2,950, while solana SOL$123.14, XRP XRP$1.8804 and DOGE$0.1217 posted deeper intraday losses, down between 2% and 4%. The pullback came alongside a firmer dollar and fading momentum in broader risk markets, with crypto continuing to lag strength in commodities and equities.

STORY CONTINUES BELOW

Commodities remained the dominant trade. Gold held near record levels after topping $5,500 an ounce earlier this week, while silver and copper stayed elevated following sharp rallies. The strength in metals has been driven by earlier dollar weakness, geopolitical risk and demand for assets viewed as stores of value amid uncertainty over government finances.

The dollar index posted its biggest one-day gain since November on Wednesday after U.S. Treasury Secretary Scott Bessent said the administration continues to support a strong-dollar policy, pushing back against speculation that Washington was comfortable with a prolonged slide.

The move followed the Federal Reserve’s decision to leave rates unchanged after three cuts late last year, with policymakers signaling they want clearer evidence that inflation is cooling before moving again.

While the outcome was widely expected, the steady-policy message helped calm currency markets after days of volatility tied to fiscal concerns and political pressure on the central bank.

That backdrop has left crypto sidelined. Bitcoin, often framed as a hedge against currency debasement, has failed to keep pace with gold’s surge and is trading roughly 30% below its October peak even as metals and global equities sit near record highs.

Traders say bitcoin continues to behave more like a high-beta risk asset than a macro hedge, reacting to swings in the dollar and broader liquidity conditions rather than developing an independent narrative.

"Along with an 8% weakening of the dollar from April to June last year, Bitcoin rose by more than 50%,"Alex Kuptsikevich, chief market analyst at FxPro, said in an email. "Without delving too deeply into history, it is easy to see that the 4% drop in the dollar index in less than two weeks was met with a 30% jump in silver and a 15% jump in gold."

"Bitcoin continues to attempt to consolidate above $89K. This resistance level, approaching a round number, is reinforced by the 50-day moving average. BTC's position relative to this curve indicates a bearish market. Due to a relatively favourable external environment, it has managed to successfully defend support near $85K. Still, fluctuations about a third below the highs of the last two months are cause for pessimism," he added.

The past week reinforced that pattern, with crypto lagging during the metals rally and failing to respond meaningfully to earlier dollar weakness.

With the Fed decision behind markets, attention now turns to megacap tech earnings and whether moves in equities, bonds or currencies generate fresh cross-asset volatility.

Until then, bitcoin appears stuck in consolidation mode, holding key levels but lacking the momentum to rejoin the trades dominating global markets.

More For You

Pudgy Penguins: A New Blueprint for Tokenized Culture

Dec 30, 2025

Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.

What to know:

Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.

The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.

More For You

First gold and silver, now oil's starting to rally and that's bad news for bitcoin

52 minutes ago

Higher oil prices could add to inflation, making it harder for the Fed to cut rates rapidly.

What to know:

WTI and Brent oil prices have surged by 12% this month. Higher oil prices could add to inflation, making it harder for the Fed to cut rates rapidly. BTC bulls are hopeful that rate cuts would arrive soon, lifting the market higher.

Bitcoin broke $90,000 Wednesday morning.

The digital currency climbed to $90,361 after recovering from weekend lows around $86,000, per Bitcoin Magazine Pro data, energizing traders who’ve been watching for fresh momentum amid key U.S. regulatory developments and the Federal Reserve’s first rate decision of 2024.

Markets are pretty much holding their breath.

The Fed’s expected to keep rates steady today, with futures pointing to a hold as traders focus more on labor market signals than inflation worries. Unemployment sits at 4.4% right now. Fed Chair Jerome Powell’s comments about jobs could shift crypto sentiment fast – if he talks up resilience and pushes back on near-term rate cuts, that neutral stance might cool crypto enthusiasm.

Gold’s been climbing too, hitting over $5,300 per ounce as investors hunt for stability in hard assets during currency volatility.

Bitcoin’s benefiting from similar macro dynamics, bouncing back from its recent dip. Yesterday’s late-day price jump happened right when President Donald Trump spoke in Iowa, downplaying concerns about the weakening dollar and talking up its strength instead.

But the real action might come Thursday. The Senate Agriculture Committee votes on a pivotal crypto market structure bill that could clarify digital asset regulatory oversight once and for all.

The committee’s markup will include several amendments before deciding whether the bill advances to the Senate floor. Democratic backing remains unclear, but absent any deal-breaker amendments, optimism for progress is rising among industry watchers. The outcome could seriously influence Bitcoin’s trajectory going forward.

Bitcoin’s recent price moves mirror the regulatory landscape’s evolution pretty closely. Over the past day, the cryptocurrency struggled to hold $88,000 amid ETF outflows and regulatory uncertainty. Yet it rallied to $90,075, up roughly 2% in 24 hours, with trading volume hitting $43 billion. Bitcoin’s circulating supply stays at 19.98 million BTC of its 21 million cap.

Traders are glued to developments as the Senate Agriculture Committee preps for Thursday’s vote on the crypto market structure bill. The vote could significantly impact how digital assets get regulated in the United States. The bill’s progress looks like a potential breakthrough for the crypto industry, providing much-needed clarity and possibly influencing market sentiment.

Market analysts are keeping close tabs on the Fed’s upcoming rate decision too.

With futures showing a likely hold on interest rates, any unexpected shift could trigger volatility in both traditional and crypto markets. Powell’s statements will get particularly scrutinized for hints about future monetary policy directions. He’s been careful with his words lately, but traders are looking for any clues about the central bank’s thinking.

In crypto circles, Bitcoin’s recent price movements have sparked discussions among investors. The asset’s ability to rebound past $90,000 gets interpreted by some as resilience amid broader economic uncertainties. The market stays sensitive to regulatory news and macroeconomic indicators, which continue shaping investor behavior in major ways.

Bitcoin’s trading volume hovers around $43 billion right now, showing sustained interest in the cryptocurrency. The digital asset’s fixed supply of 21 million BTC, with 19.98 million already in circulation, remains a critical factor in valuation dynamics. How ongoing regulatory discussions will affect the landscape remains unclear.

Wednesday’s crypto community attention also fixes on potential implications of the Senate Agriculture Committee’s vote.

The outcome could set a precedent for future regulatory measures. The bill’s progress gets closely monitored by stakeholders who want clearer regulatory frameworks for digital assets. Industry leaders have been voicing their perspectives in the run-up to the vote.

SEC Chair Gary Gensler previously emphasized the importance of regulatory clarity in fostering innovation within the crypto sector. His stance may play a role in shaping legislative outcomes and market reactions. Gensler’s been pretty vocal about crypto regulation needs lately.

As Bitcoin continues hovering around the $90,000 mark, traders are assessing how these regulatory and monetary policy developments might impact price trajectory. The convergence of these events presents a crucial juncture for Bitcoin and the broader cryptocurrency ecosystem.

Anticipation surrounding the Senate Agriculture Committee’s upcoming decision is palpable. Thursday’s committee deliberation on the crypto market structure bill could redefine regulatory boundaries within the digital asset space. Major crypto exchanges and institutional investors are watching closely, seeking a definitive framework to operate within the U.S. market.

Some analysts speculate Bitcoin’s recent price activity might be influenced by underlying market mechanics. The asset’s climb over $90,000 has sparked interest from both retail and institutional investors, as they assess whether the level will hold. Ark Invest, a prominent investment management firm known for its bullish cryptocurrency stance, has reportedly been increasing Bitcoin exposure, viewing recent price movements as a strategic buying opportunity.

The Fed’s rate decision later today is another focal point. Market sentiment leans towards a hold on interest rates, given current macroeconomic indicators. Any deviation from expectations could lead to significant market shifts. Traders are particularly attentive to Powell’s remarks, which may provide insights into the central bank’s future policy directions amid a fluctuating economic landscape.

As events unfold, the crypto market remains on edge. The interplay between regulatory developments and macroeconomic signals creates a dynamic environment for digital assets.

Bitcoin’s recent price surge keeps it at the center of the financial narrative, capturing attention from both seasoned investors and crypto newcomers. Trading volume stays robust at $43 billion.

Several major institutional players have been positioning themselves around Bitcoin’s $90,000 breakout. MicroStrategy, the corporate Bitcoin holder with over 331,000 BTC on its balance sheet, saw its stock jump 4% in pre-market trading Wednesday. Meanwhile, BlackRock’s Bitcoin ETF recorded $127 million in inflows Tuesday, reversing earlier outflow trends that had pressured prices below $88,000.

The timing of Bitcoin’s rally coincides with growing chatter about potential Strategic Bitcoin Reserve legislation. Senator Cynthia Lummis has been pushing her Bitcoin Act proposal, which would direct the Treasury to acquire 1 million Bitcoin over five years. Trump’s previous campaign promises to create a national Bitcoin stockpile are getting renewed attention as his administration takes shape.

Post Views: 1

Coinbase has integrated the Jupiter exchange directly into its on-chain stack, enabling the trading of Solana-based assets on the platform. Users under the new integration can deploy existing Coinbase balances and payment methods to trade Solana tokens from a self-custodial wallet.

According to the Kobeissi Letter, Coinbase is now using Jupiter’s on-chain technology to provide instant access to Solana-native assets rather than the slow, manual process of listing tokens on a centralized order book. Jupiter will act as the execution engine, aggregating liquidity across Solana DEXs, settling trades on-chain, and optimizing trading routes.

Meanwhile, Coinbase will provide the distribution, on- and off-ramps, and UX to give its users access to more Solana tokens than would be available through centralized listings. Together, Coinbase and Jupiter significantly boost the reach of Solana-based tokens into the retail market. Instead of competing with Solana DeFi primitives, Coinbase is embedding them.

Jupiter’s President says integration has no added complications  BREAKING: Coinbase, $COIN, announces it has integrated Jupiter Exchange directly into its onchain trading stack.

This means that millions of Solana-based tokens can now be traded on Coinbase for the first time ever, all through Jupiter.

Rather than the slow, manual process of… pic.twitter.com/SX8dJNt2Qi

— The Kobeissi Letter (@KobeissiLetter) January 28, 2026

Jupiter’s President, Xiao-Xiao Zhu, recently claimed that the integration allows millions of Coinbase users to access the full range of the Solana network directly on-chain without added complications to their user experience. Coinbase users can leverage Jupiter’s price discovery, deep liquidity, and routing engine to execute Solana-native token trades across the entire network behind the scenes. 

Zhu also said the partnership with Jupiter will further validate Coinbase’s infrastructure and capacity to serve millions of users on-chain and at scale. He noted that the decision followed his company’s integration of trading APIs with Uniswap Labs and Robinhood. The Jupiter president further believes that his company’s technology will serve as the entry point for the next era of adoption, adding that the partnerships were proof that on-chain finance is ready to support mass-market demand.

On the other hand, Blockworks Research also notes that the Coinbase-Jupiter integration is more about major exchanges leveraging DeFi infrastructure to expand market access to Solana’s trading stack, rather than a single partnership. Jupiter generates nearly $4 million in monthly revenue from its “Ultra” aggregator offering, and this integration presents an opportunity to further monetize it.

According to Blockworks Research, the logic behind the Coinbase-Jupiter integration is that on-chain trading eliminates the long lead times associated with CEX listings. That allows markets to form around already existing liquidity, expanding both Coinbase and Jupiter by increasing potential revenue and trading volume. Jupiter is already at the center of Solana spot trading, with roughly $50 billion in monthly spot trading volume. Meanwhile, Coinbase’s average monthly spot trading volume is roughly $80-$100 billion.

Coinbase completes six M&A deals in 2025  Media reports indicate that Coinbase completed 6 M&A deals in 2025, including the $2.9 billion acquisition of Derbit. Kraken also closed five mergers, acquiring Small Exchange for $100 million and NinjaTrader for $1.5 billion. Meanwhile, Ripple completed four acquisitions, including the $1.25 billion purchase of Hidden Road.

Crypto-related M&A volume reached approximately $10.7 billion in November last year, driven mainly by Naver’s acquisition of Dunamu for $10.3 billion. The surge in November followed a strong Q3 2025 that doubled the previous record of $5 billion, representing a 30x increase compared to the same period in 2024.

Meanwhile, the total value of M&A deals excluding the Dunamu acquisition stood at approximately $8.6 billion across 133 deals by November 2025. M&A volume has surged from $470,000 in Q1 2021 to nearly $4.2 billion in Q4 2025, almost a 9,000x increase. According to reports at the end of last year, the momentum extended into December, with Paribu acquiring CoinMENA for $240 million.  

Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.

The number of XRP wallets holding more than 1 million tokens has been gradually increasing since the start of the year and could bode well for the asset’s long-term prospects, according to crypto analytics platform Santiment.

“XRP's price is down a modest -4% since the start of 2026, but its amount of 'millionaire' wallets are rising for the first time since September,” Santiment said in a post on Wednesday.

Crypto traders often track large-holder accumulation, using it as a signal for where the asset’s price could head in the future. 

Santiment said that 42 more XRP (XRP) wallets holding over 1 million tokens have “returned to the ledger” since Jan. 1. 

The number of XRP “millionaire” wallets fell by 784 between October and December. Source: SantimentSantiment said this is “an encouraging sign for the long term”. With XRP trading at $1.87 at the time of publication, 1 million tokens is the equivalent to roughly $1.87 million, according to CoinMarketCap.

Meanwhile, XRP accumulation by “smart money” traders, who are deemed the most successful traders in the industry by returns, has risen 11.55% over the past 30 days, according to Nansen.

Analysts split on XRP’s movement in the weeks aheadHowever, crypto analysts appear to have differing views on where XRP is moving next. 

Crypto trader CW said in an X post on Wednesday that XRP is looking likely “to break through the selling wall soon.”

XRP is up 1.27% over the past 30 days. Source: CoinMarketCap“Net buying remains strong, and the trend is reversing,” CW said, arguing that if the sell wall is broken, the price could rise to $2.30.

At the same time, asset manager 21Shares recently said that XRP’s pattern of multi-year compression followed by “sharp uncoiling events,” combined with growing regulatory clarity and institutional support, could leave the network “primed for continued price appreciation.”

However, Swyftx lead analyst Pav Hundal recently told Magazine that his “caution” on XRP is that “further upside becomes too reliant on narrative.”

Hundal argued that XRP’s price could face near-term pressure if there are “any unpleasant surprises” around the US CLARITY Act voting process.

Other signals show the overall market is struggling and is still mostly Bitcoin-focused.

The CoinMarketCap Altcoin Season Index currently shows a “Bitcoin score” of 31 out of 100, indicating that Bitcoin has been outperforming most of the top 100 altcoins over the past 90 days.

The Crypto Fear & Greed Index, which measures overall crypto market sentiment, posted a “Fear” score of 26 in its Thursday update, signaling that investors are taking a cautious approach to the crypto market.

Magazine: 6 weirdest devices people have used to mine Bitcoin and crypto

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Amin Ayan

Crypto Journalist

Amin Ayan

Part of the Team Since

Apr 2025

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...

Has Also Written

Last updated: 

21 minutes ago

Bitcoin treasury firm Strive said it has retired the vast majority of the debt it assumed from its recent acquisition of Semler Scientific and added to its Bitcoin holdings following the close of a preferred stock offering.

Key Takeaways:

Strive retired 92% of the debt inherited from its Semler Scientific acquisition and bought 334 more Bitcoin. Strong demand pushed its preferred stock raise to $225 million, funding Bitcoin purchases without added leverage. The company now holds 13,132 BTC worth about $1.17 billion, ranking it among the top corporate Bitcoin holders. The company said Wednesday it retired 92% of the debt inherited in the deal and purchased an additional 334 Bitcoin after completing its Variable Rate Series A Perpetual Preferred Stock offering, which trades under the ticker “SATA.”

Strive Upsizes Preferred Stock Raise to $225M on Strong DemandStrive reported roughly $600 million in demand for the offering, prompting it to increase the size of the raise from an initial target of $150 million to $225 million.

The preferred shares are structured as long-duration equity financing, allowing the company to fund Bitcoin accumulation without taking on additional leverage.

The Vivek Ramaswamy-backed firm finalized its acquisition of Semler Scientific on Jan. 13, following a merger agreement reached in September. Semler had previously operated as a Bitcoin treasury company before the transaction.

Earlier this month, Strive said it planned to use proceeds from the offering, along with existing cash and potential funds from unwinding hedging positions, to reduce liabilities and expand its Bitcoin exposure.

The company confirmed that $110 million of the inherited debt has now been retired, including $90 million in convertible notes exchanged for SATA stock and the full repayment of a $20 million credit facility provided by Coinbase.

With the Coinbase loan paid off, Strive said its Bitcoin holdings are now fully unencumbered. The company added that it plans to eliminate the remaining $10 million of debt within the next four months.

The latest Bitcoin purchase totaled 333.9 BTC at an average price of $89,851, lifting Strive’s total holdings to 13,132 BTC.

At current market prices, the stash is valued at roughly $1.17 billion, placing Strive among the top 10 corporate Bitcoin treasury holders.

Strive also disclosed a Bitcoin yield of 21.2% quarter-to-date, a metric it uses to measure the growth of Bitcoin exposure per common share over a given period.

Despite the balance sheet improvements, the market reaction was muted. Shares of Strive fell 2.23% on Wednesday to $0.80, according to Google Finance data.

The stock is now down more than 92% from its peak of $10.46 following the announcement of its Bitcoin-focused strategy, underscoring the volatility tied to corporate treasury plays centered on digital assets.

Corporate Bitcoin treasuries surged in popularity throughout 2024 and early 2025, but many companies saw their share prices slide later in the year as investors questioned the durability of the model.

More than 190 publicly traded companies now hold Bitcoin on their balance sheets, collectively owning about 1.134 million BTC, or roughly 5.4% of the total supply.

Nearly two-thirds of those holdings belong to Michael Saylor’s Strategy, which has continued buying Bitcoin even as broader market conditions have tightened.

Worldcoin Price Jumps 50% as OpenAI Buzz Builds — Is Another 25% Move Possible?Worldcoin price is up 50% since late January, but stalled below the 100-day EMA.Whales added 32.6 Million WLD with larger wallets positioning earlier.A daily close above $0.66 could open a move toward $0.84–$0.95.Worldcoin price has quietly staged one of the strongest rebounds among large-cap altcoins. Since January 25, WLD is up nearly 50%, with the past 24 hours adding around 13% as traders possibly reacted to reports linking OpenAI to a new social platform focused on proof of personhood.

But the chart shows this rally did not start with the news. The OpenAI angle added momentum. The technical trigger came first.

Bullish Divergence Sparked Worldcoin’s Rally Before the NewsWorldcoin’s rebound began forming well before headlines appeared.

Sponsored

Sponsored

BREAKING: Worldcoin price shoots up 13% as OpenAI is reportedly building a social media platform powered by World’s iris-scanning technology. pic.twitter.com/d43BWzywKn

— BeInCrypto (@beincrypto) January 28, 2026 Between December 18 and January 25, the WLD price made a lower low, while the Relative Strength Index (RSI) made a higher low. RSI measures momentum. When price weakens, but momentum improves, it signals that selling pressure is fading. This setup is called bullish divergence and often appears near trend reversals.

That signal already played out. Since the January 25 low, the Worldcoin price has climbed close to 50%, outperforming most major altcoins over the same period.

This was not the first time the pattern worked. A similar divergence between December 18 and December 31 led to a 41% rally. The current move followed the same structure, suggesting the market was already shifting before any OpenAI narrative entered the picture.

WLD Price Structure: TradingViewWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

The news acted as an accelerant, not the ignition. However, the price move missed a key point that could shape the narrative moving forward.

While the 50% rally claimed key Exponential Moving Average (EMA) lines, 20-day and 50-day EMAs, it fell short of the 100-day EMA. An exponential moving average (EMA) is a trend indicator that gives more weight to recent prices. When price trades above key EMAs, it suggests buyers are regaining control.

The last time this EMA was cleanly reclaimed in early September 2025, the price surged 115%. This line would be a key resistance level going ahead.

Sponsored

Sponsored

Reports suggesting OpenAI may be exploring a social platform built around proof of personhood pushed Worldcoin into the spotlight. The narrative fits cleanly. Worldcoin’s identity system is designed to verify humans without revealing personal data.

Price reacted fast. WLD surged sharply intraday but printed a long upper wick on the daily candle. That wick is the key. It shows sellers stepped in as the price pushed higher, preventing an immediate continuation.

On-chain data explains why.

Exchange inflows jumped sharply during the surge. Inflows rose from roughly 0.83 million WLD to a peak near 10.7 million WLD in a short window. At a current price near $0.53, that represents over $5.6 million worth of tokens moving toward exchanges, possibly by underwater traders. That supply helped cap the rally.

Exchange Inflows Rise, Then Fall: SantimentSince then, inflows have cooled back toward 3.4 million WLD, suggesting selling pressure has eased. But reduced selling alone does not guarantee follow-through. Buyers still need to step in.

Sponsored

Sponsored

Bigger Whales Positioned Early, Smaller Ones Followed LaterWhale behavior shows a clear split in timing.

Wallets holding 10 million to 100 million WLD began accumulating around January 15, well before the OpenAI reports. Their combined holdings rose from roughly 1.67 billion to 1.70 billion WLD, an increase of about 30 million tokens, worth roughly $15.9 million.

Smaller whales, the 1 million to 10 million WLD cohort, acted later. Over the past 24 hours, their holdings increased by about 2.6 million WLD, worth roughly $1.4 million at current prices. Their buying coincided with the news-driven spike rather than the early technical signal.

WLD Whales: SantimentThis split matters. Larger whales positioned early on the structure. Smaller whales reacted to confirmation.

Sponsored

Sponsored

Worldcoin Price Levels Decide If A Critical 25% Push Is PossibleWorldcoin is still trading inside a bearish falling channel that has guided the price lower since October. The recent surge briefly challenged the upper boundary but failed to hold above it.

Derivatives positioning remains relatively balanced. On Binance’s WLD perpetual pair, short leverage sits near $4.65 million, while long leverage is around $3.9 million. This slight short tilt reduces immediate long-squeeze risk and suggests traders remain cautious.

Liquidation Map: CoinglassKey WLD price levels now define the setup.

On the upside, Worldcoin must reclaim $0.66 on a daily close, a 25% move from the current levels. That level aligns with the 100-day EMA, which rejected the price during the recent spike. A clean move above it opens upside toward $0.73, $0.84, and potentially $0.95 if momentum builds.

On the downside, losing $0.51 weakens the WLD price structure. Below $0.48, liquidation risk increases, with deeper downside toward $0.43 if sellers regain control.

Worldcoin Price Analysis: TradingViewWorldcoin’s rebound is real and technically grounded. But confirmation is still missing. The OpenAI narrative added fuel, not certainty. February will decide whether this becomes a full trend reversal or a strong rally that runs out of room on growing selling pressure.

Disclaimer

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

A cryptocurrency analyst has pointed out how Bitcoin has recently formed a technical crossover that preceded bearish shifts in the past.

Bitcoin Has Seen A Death Cross Between 21-Day & 50-Day SMAs In a new post on X, analyst Ali Martinez has shared a daily price chart for Bitcoin showcasing a crossover between two simple moving averages (SMAs) that the asset has gone through recently.

An SMA is a statistical tool that averages a quantity over a given period of time and that, as its name suggests, updates in time with the quantity. This tool can be useful for studying long-term trends, as it smooths out the graph by eliminating short-term fluctuations.

SMAs can be taken over any window, but in the context of the current topic, two specific periods are of relevance: 21-day and 50-day. Below is the chart posted by Martinez that shows the trend in these SMAs for Bitcoin over the past decade.

The 21-day SMA appears to have crossed under the 50-day SMA | Source: @alicharts on X From the graph, it’s visible that the daily Bitcoin price has seen its 21-day SMA fall below the 50-day one recently. In the past, this crossover has tended to act as a “death cross” for the cryptocurrency, with its price plunging after the signal’s appearance.

In the chart, the analyst has highlighted the previous instances of this death cross. It would appear that the asset experienced drawdowns ranging between 54% and 69% following the crossover.

The most recent occurrence of the crossover was in 2022, leading into a price decline of almost 66% to the bear market bottom. Given the past pattern, it only remains to be seen whether the 21-day SMA going below the 50-day SMA will prove to be bearish for Bitcoin this time.

In the scenario that bearish momentum does follow for the asset, it could be at risk of breaching below an on-chain level known as the Realized Price-to-Liveliness Ratio. This level represents the ratio between two on-chain indicators: the Realized Price and Liveliness.

The first of these tracks the cost basis of the average investor or address on the Bitcoin blockchain, while the latter encapsulates the spending/HODLing behavior of long-term investors.

As Martinez has highlighted in another X post, Bitcoin has been trading near the Realized Price-to-Liveliness Ratio recently.

The price of the coin has just been holding at the line | Source: @alicharts on X As displayed in the above graph, the Bitcoin Realized Price-to-Liveliness Ratio is situated around $87,500 right now. BTC briefly fell below this mark during the Sunday dip, but the coin has since recovered back above it.

“The last time Bitcoin $BTC fell below the Realized Price-to-Liveliness Ratio, it moved toward the Realized Price,” noted the analyst. Currently, the Realized Price is located at $56,000.

BTC Price At the time of writing, Bitcoin is floating around $89,500, up 2% in the last seven days.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView Featured image from Dall-E, chart from TradingView.com

Worldcoin price has jumped to $0.5275 at press time, up 14% over the past 24 hours, after reports speculated OpenAI may use its biometric identity verification system for a new social app.

Summary

Worldcoin rallied on speculation tied to OpenAI’s social media plans. Traders increased futures exposure as the narrative gained traction. The chart still shows heavy resistance despite short-term stabilization. At its peak, the WLD token climbed more than 30% to an intraday high of $0.6388 before pulling back, leaving it up 10% over the past seven days and 7% over the past month. Spot trading activity spiked sharply, with 24-hour volume reaching $748.9 million, a 1,090% increase.

Derivatives showed traders leaning more aggressively into the move. CoinGlass data put futures volume up 855% to $1.91 billion, while open interest rose 76% to $193.5 million.

The combination points to fresh positioning rather than short covering alone, though the speed of the build-up also raises the risk of fast unwinds if price stalls.

OpenAI social media plans fuel Worldcoin narrative According to a Jan. 28 Forbes report, OpenAI is exploring the early development of a new social network designed as a “humans-only” platform to tackle bot activity.

The project is reportedly being handled by a small internal team and is testing biometric verification methods to confirm real users.

Verification options under review include iris-scanning technology similar to World’s Orb device, as well as facial recognition systems such as Apple’s Face ID.

The idea is to allow AI-generated content to circulate on the platform while restricting participation to authenticated humans, a sharp contrast to existing social networks that struggle with automated accounts.

The development has drawn attention because OpenAI CEO Sam Altman co-founded World, which uses iris scans to issue proof-of-personhood credentials and distribute Worldcoin (WLD) tokens.

Traders are now pricing in the chance that OpenAI could lean on World’s existing Orb network, pushing its identity system beyond crypto-native use cases and into mainstream social media.

That narrative has lifted sentiment, but it also carries risks that may lead to another short-term dump. Biometric verification remains a sensitive topic for regulators, and World’s previous expansions have faced scrutiny around consent and data handling, factors that could limit how widely such systems are deployed.

Worldcoin price technical analysis Despite the sharp bounce, Worldcoin is still trading within a broader downtrend. with price consistently capped below descending moving averages. Medium-term bias is tilted to the downside, as the structure reflects lower highs and lower lows.

Worldcoin daily chart. Credit: crypto.news The $0.52–$0.55 area has started to act as a short-term floor after absorbing repeated sell-offs, helping price stabilize following weeks of losses. That stabilization, however, has not translated into a clean breakout.

Rallies have repeatedly stalled near $0.62–$0.63, where sellers have stepped in and capped upside moves. This zone lines up with falling moving averages and has become a clear supply area.

Until price can push through it and hold, upside moves look more like rebounds than a trend shift.

Momentum has modestly declined, with the relative strength index pushing back toward the mid-40s. Volatility has also compressed after the prolonged slide, a setup that often precedes a larger move, though direction is still unclear.

Immediate support sits at $0.52, followed by $0.50. A deeper breakdown would put the $0.42 cycle low back into view. On the upside, bulls need a clean daily close above $0.63–$0.65 on strong volume to alter the prevailing structure.

Until that happens, the bounce looks corrective, with downside risk still firmly in play.

Remitly has delivered strong growth since its IPO, but the stock has fallen.

Remittances don't get much attention from investors, but hundreds of billions of dollars are sent across borders every year from immigrants and temporary workers providing for their families and others in their home countries.

Traditional players in the space include Western Union and MoneyGram, but no company is growing faster in the remittance space than Remitly Global (RELY 1.55%), a digital-first fintech company that has grown quickly by expanding its addressable market within remittances and adding a premium, subscription-based tier.

Remitly went public in 2021, and the stock has mostly struggled since then despite delivering consistently strong growth. The stock is down by roughly two-thirds since it listed its shares for $43.

Image source: Getty Images.

Why is Remitly down? A combination of slowing revenue growth, concerns about stricter immigration policy in the U.S., and minimal profits has weighed on the stock, even though management seems to be executing on its goals.

For example, revenue rose 25% to $419.5 million on a 35% increase in send volume to $19.5 million with a lower take rate reflecting a strategic shift to expand its market. The company is now profitable on a generally accepted accounting principles (GAAP) with net income of $8.8 million in the third quarter, showing its margins are still minimal.

At its Investor Day conference in December, the company gave guidance through 2028, saying it forecast revenue growth in the high teens in 2026, and sees revenue of $2.6 billion-$3 billion in 2028, implying a compound annual growth rate of 20% over the next three years. It also projected an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $575 million-$600 million. The company also said it would aim to meet the rule of 40 standard over the next three years, meaning that revenue growth and EBITDA margin combined would equal at least 40%.

Today's Change

(

-1.55

%) $

-0.21

Current Price

$

13.63

Is Remitly a buy? Remitly currently has a market cap of just $2.9 billion, meaning the stock trades at just 5 times its EBITDA forecast for 2028.

If the company can hit that target, it seems like the stock has nowhere to go but up. The weakness in the stock seems to partly reflect investor skepticism that it can get there.

Still, Remity has smartly expanded its addressable market by offering its product to businesses and with the Remitly One subscription program, which offers a send now, pay later feature, among other perks.

With strong revenue growth, a low valuation, and new products like Remitly One, the fintech stock looks too cheap to ignore.

Mayne Pharma Group Limited (MAYNF) Shareholder/Analyst Call January 28, 2026 6:00 PM EST

Company Participants

Bruce G. Robinson
Aaron Gray - Chief Financial Officer
Tom Duthy
Laura Loftus - Associate General Counsel & Company Secretary
Ann Custin
David Petrie

Presentation

Bruce G. Robinson

Good morning, everyone. I'm Bruce Robinson, the Chair of Mayne Pharma. It's my pleasure to welcome you to Mayne Pharma's 2025 Annual General Meeting being held here in Melbourne, Australia. As shareholders may recall, Mayne Pharma was granted an extension of time to hold its 2025 AGM by the Australian Securities and Investment Commission as a result of the scheme of arrangement with Cosette Pharmaceuticals. Unfortunately, the scheme did not complete in November as anticipated, which I will discuss in further detail. This necessitates the convening of Mayne Pharma's AGM for 2025 today. As we have a quorum, I will now declare the meeting open.

Once again, this year, we are offering a hybrid meeting, allowing shareholders to participate in person or via our live webcast. I will now briefly advise you of the procedural aspects for today's meeting. Shareholders and proxy holders present in the room can ask questions and submit their votes. If you are watching on the webcast and are a shareholder, you can ask questions through the meeting platform and also submit your votes. To submit a written question, select the Q&A icon on the screen. Select the topic your question relates to from the drop-down box type in the question and press send. We encourage you to lodge any written questions now.

For those participating online, voting for all resolutions is open and will remain open during the AGM. You can change your vote up until the time I declare the voting is closed, at which time your most recent selection will be registered. If you experience any technical difficulties, there

SK Hynix beat rival Samsung Electronics in operating profit for the first time in 2025, as it retained its lead in high-bandwidth memory used in artificial intelligence chips. 

The two South Korean memory makers went head-to-head this week, with SK Hynix reporting earnings on Wednesday and Samsung on Thursday morning local time.

SK Hynix posted a record operating profit of 47.2 trillion won for the full year, surpassing Samsung's 43.6 trillion won. The comparison underscores SK Hynix's ascension in South Korea's tech space since it was acquired by SK Telecom for about $3 billion in 2012.

SK Hynix focuses almost entirely on memory chips, while Samsung operates across multiple businesses, including consumer electronics and contract chip manufacturing. Samsung's memory segment generated operating profits of about 24.9 trillion won in 2025.

SK Hynix's success is in large part thanks to its entrenched position as the global leader in high-bandwidth memory, or HBM, a specialized chip used in AI processors and servers such as those produced by Nvidia. 

"SK Hynix is clearly an outstanding 'AI Winner' in Asia," said MS Hwang, research director at Counterpoint Research, adding that its lead in quality and supply of HBMs and other chips used in AI servers has been crucial in the current phase of the AI infrastructure boom. 

SK Hynix has maintained its market lead in both areas, even as Samsung regained the top spot in memory revenue rankings in the fourth quarter of 2025, said Hwang.

However, competition is ramping up. 

While SK Hynix managed to gain an early lead in HBM and secured the lion's share of Nvidia memory contracts last year, competitors like Samsung and Micron have been making some breakthroughs.

Samsung has expanded its HBM sales and said it remains on track to begin delivering HBM4 products — the latest, sixth-generation HBM technology — this year.

"[W]e expect Samsung to show a significant turnaround with HBM4 for Nvidia's new products, moving past last year's quality issues," said Ray Wang, an analyst at SemiAnalysis focused on memory and the AI supply chain. 

Still, analysts expect SK Hynix to retain high market share in HBM4 and maintain its dominant position.

"⁠⁠The HBM4 race is really between SK Hynix and Samsung as we think [the] two companies are more competitive than Micron," said Wang. 

"We expect SK Hynix to maintain its lead in HBM4, while Samsung to make material progress and become more competitive in HBM4 than [previous generations]," he added.

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

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

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.

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

Disclaimer: I am not an investment advisor, and this article is not meant to be a recommendation of the purchase or sale of stock. Investors are advised to review all company documents and press releases to see if the company fits their own investment qualifications.

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.

Intel stock has been surging of late, but the business is still well behind this manufacturing leader.

After years of lagging the market, Intel (INTC +11.04%) has suddenly found new life.

The stock has more than doubled over the last six months, even after its sharp pullback following disappointing guidance in its fourth-quarter earnings report.

Intel has rebounded with the help of the U.S. government, which took a 9.9% stake in the stock last August, which was followed by Nvidia investing $5 billion in the chip-maker in September.

Both moves gave Intel much-needed capital to continue investing in its foundry business and to develop new AI products. It also showed confidence in the company's turnaround prospects under new CEO Lip-Bu Tan, who has cut costs, streamlined the business, scaled back on capital expenditures, and is aiming to overhaul the culture, making it less bureaucratic and more like a start-up.

However, the recent pullback on its earnings report shows that the stock may be overbought and that expectations seem to have outrun the current reality of the business. Intel is still struggling to grow and turn a profit. Revenue fell 4% in the fourth quarter to $13.7 billion, and it reported a generally accepted accounting principles (GAAP) loss of $591 million, though it was profitable on an adjusted basis.

For the first quarter, it expects revenue of $11.7 billion-$12.7 billion, which is a sharp sequential decline, and sees adjusted earnings per share of just break-even.

For investors looking to capitalize on the AI infrastructure boom, there's a more reliable stock to buy here. In fact, it's a chief rival of Intel. I'm talking about Taiwan Semiconductor Manufacturing Corporation (TSM +1.14%), the world's leading contract manufacturer of semiconductors.

Image source: Getty Images.

A track record of excellence TSMC, as the company is often known, isn't a household name like Intel. It doesn't make branded products, and it's based in Taiwan rather than the U.S.

However, the company is one of the most valuable in the world at a market cap of $1.8 trillion, and it's a linchpin in the global economy as it's the primary chip manufacturer for tech titans like Apple, Nvidia, AMD, Broadcom, and others. It manufactures more than half of the contract chips in the world and is estimated to account for 90% of the advanced contract chips.

That gives it a strong competitive advantage, and its results back that up as it's turned in phenomenal growth and profit margins during the AI boom.

In its fourth quarter, revenue rose 25.5% to $33.7 billion, and it reported an operating margin of 54%, or $18.2 billion in operating income.

TSMC now makes 77% of its revenue from advanced chips, which it defines as those that are 7 nanometers (nm) or less. The stock also trades at an attractive valuation at a price-to-earnings ratio of 32, making it only slightly more expensive than the S&P 500. Historically, the stock has traded at a discount because it's based in Taiwan and some investors fear that China could invade the island territory.

TSMC stock has also been a longtime winner on the stock market, up more than 1,000% over the last decade.

Today's Change

(

1.14

%) $

3.86

Current Price

$

342.20

Intel vs. TSMC Intel operates in two primary segments: its products division, which refers to its chip designs, and its foundry division, which is focused on manufacturing. Historically, the company has manufactured chips solely for itself, but it restructured its business in 2021 to open its foundry to outside customers and has signed up some new customers, including Amazon.

Intel has staked the future of the foundry business on advanced processes like 18A (18 angstroms or 1.8nm), which it recently launched. 18A and the upcoming 14A, which is expected to enter production in 2028, have the potential to make Intel a real competitor to TSMC. However, a meaningful challenge from Intel is likely years away, and Intel has been losing billions of dollars a year on the foundry business as it builds out advanced processes in an attempt to establish a third-party manufacturing business.

At this point, Intel stock is more expensive than TSMC, even though its revenue is basically flat and it's losing money on a GAAP basis. TSMC, on the other hand, expects to grow revenue by a compound annual rate of around 25% through 2029, and it's currently keeping more than half of its revenue as operating income.

While Intel's turnaround may be appealing as a story, TSMC is the much safer bet here and should continue to beat the market as long as the AI boom continues.

Jeremy Bowman has positions in Advanced Micro Devices, Amazon, Broadcom, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Advanced Micro Devices, Amazon, Apple, Intel, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.

Toyota Motor's all-new RAV4 SUVs are displayed during its world premiere event in Tokyo, Japan May 21, 2025. REUTERS/Manami Yamada/File Photo Purchase Licensing Rights, opens new tab

CompaniesTOKYO, Jan 29 (Reuters) - Toyota Motor (7203.T), opens new tab sold a record 11.3 million vehicles globally in 2025, the company said on Thursday, retaining its crown as the world's top-selling automaker for a sixth consecutive year.

Global group sales rose 4.6% from a year earlier, including the parent company's Toyota and Lexus brand vehicles as well as those sold by small-car unit Daihatsu and truck maker Hino Motors (7205.T), opens new tab.

Sign up here.

Second-ranked German rival Volkswagen Group reported this month that unit sales fell 0.5% last year to just under 9 million vehicles, as it seeks to cut costs at home and contend with intense competition in China.

Toyota's growth was driven mainly by sales in the U.S. and Japan, which together accounted for more than two-fifths of the parent company's sales.

Toyota and Lexus brand vehicle sales rose 3.7% in 2025 to 10.5 million, also a record, helped by strong demand for hybrid vehicles in the U.S.

Exports from Japan to the U.S. jumped 14.2% to about 615,000 vehicles, with the RAV4 SUV among the most popular models.

In China, Toyota's sales edged up 0.2%, the first time in four years they did not decline, despite the heavy competition in the world's top car market.

Gasoline-electric hybrids accounted for 42% of Toyota's parent company sales globally, while battery-electric vehicles made up 1.9%.

Reporting by Daniel Leussink; Editing by Jamie Freed

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

Las Vegas Sands Corp. (LVS) Q4 2025 Earnings Call Transcript

SummaryCompaniesElliott opposes Toyota's buyout offer for TICO, claims undervaluationToyota defends offer, cites intrincis value and fairnessOutcome may set precedent for Japanese dealmakingTOKYO, Jan 29 (Reuters) - Toyota's plan to take an affiliate private looked unremarkable at first. Instead, the bid for Toyota Industries, or TICO, ignited a battle between activist investors demanding top dollar and a Japanese corporate culture that prizes stakeholder harmony over shareholder returns.

This month, Toyota sweetened its bid by 15% to around $27.8 billion but failed to quell the uprising. Elliott Investment Management said the revised ​18,800 yen-a-share offer undervalued TICO (6201.T), opens new tab by almost 40% -- and potentially much more as a standalone entity.

Sign up here.

The U.S.-based activist fund, which holds 6.7% of TICO, has attacked the bid as opaque and said it falls short of basic governance standards. ‌Since Toyota announced its initial 16,300 yen-a-share offer in June, Elliott has led the charge for a higher price.

The standoff pits Paul Singer's fund, known for extracting big paydays from Argentina and Peru, against the world's largest automaker and its chairman, Akio Toyoda. The 69-year-old grandson of Toyota's founder has a personal stake in the outcome: He's investing about $6.5 million to boost his TICO holding from 0.05% to 0.5% and tighten his grip on the maker of forklifts, engines and RAV4 SUVs.

The pushback threatens to upend Toyota's plans to revamp a key affiliate. Elliott has urged investors not to take the offer price, arguing TICO would be worth more independent -- a gambit that could force Toyota to pay significantly more or kill the deal outright.

This account of how a routine buyout turned into a corporate battle is based on regulatory filings and interviews with more than two dozen people, including investors and Toyota group executives. It ‌shows how the transaction has become a test case for dealmaking in Japan -- and whether the principle of "sanpo yoshi," which prizes benefits to all stakeholders and society, can withstand pressure from shareholder activists.

"Over the years, ​Toyota has tended to annoy investors because it doesn't really care about shareholders," said Stephen Codrington, CEO of research firm Codrington Japan.

Toyota rejects that view. A representative said the group sees shareholders as important and their support as critical to growth. In an interview with Reuters just before the bid was raised, Masahiro Yamamoto, the automaker's chief risk officer, said it was incorrect to portray talks with shareholders as confrontational.

A representative for Toyota Fudosan, the real-estate unit leading the buyout, this week defended the offer, saying it reflected TICO's intrinsic value and represented a premium to ‍historic market prices.

A TICO representative said it had taken steps to ensure the bid was transparent, including consulting outside directors and independent firms, and received three fairness opinions.

An Elliott spokesperson declined to comment in response to written questions from Reuters.

'HE WHO SPEAKS THE LOUDEST WINS'Founded in 1926 as Toyoda Automatic Loom Works, TICO later added an automobile division, spun off as Toyota Motor (7203.T), opens new tab in 1937. Toyota says it wants to take TICO private to remove the burden of short-term profit targets as the group pivots to connected cars and advanced software.

After the deal was announced, TICO shares settled near the offer price, signaling confidence Toyota would succeed.

But overseas investors, alarmed ⁠by what they saw as opaque financial disclosure and shoddy treatment of minority shareholders, complained to the Tokyo Stock Exchange (TSE) over the summer that the transaction went against its drive to improve governance, two people briefed on the matter said.

The TSE had never experienced such "fury" from investors, said ‍one of the people. The exchange declined to comment on the complaints, which haven't been previously reported.

In September, TICO shares began to tick higher as investors bet Toyota would bump the price. That conviction deepened when Elliott disclosed its stake in November.

Still, Toyota executives gave no sign of budging.

Following investor complaints, Kenta ‌Kon, a director ‌at Toyota Fudosan, told other executives that raising the price to appease some shareholders would create a dangerous precedent, according to two people. Kon contended that such a move would amount to "He who speaks the loudest wins," these people said, unfairly rewarding some stakeholders because they created a fuss.

In an interview, Kon, who is also the automaker's chief financial officer, told Reuters he didn't recall using that expression. The group had been "careful to ensure that we do not prioritize anyone unfairly," he said.

As TICO's shares kept rising, a buoyant market also lifted the value of its cross-shareholdings in other Toyota companies, which investors said made the offer price look less attractive.

"They've tried to buy Toyota Industries on the cheap, and now they have to face a bull market in the cross-shareholdings that Toyota Industries holds," said Hugh Sloane, co-founder of Sloane Robinson Investment Management in London, who ⁠holds shares in TICO. He doesn't plan to tender his shares, he ⁠said.

In mid-December, TICO executives wrote to Toyota Fudosan urging it ​to increase the offer, citing the rising share price, a regulatory filing showed.

Toyota Fudosan eventually settled on 18,800 yen, which TICO accepted as final, according to the filing. TICO shares closed at 19,585 yen on Wednesday.

GOVERNANCE OVERHAULAnother rationale for the TICO deal is to unwind its holdings in other Toyota companies and better align the group with TSE governance changes intended to improve shareholder value. Yet the backlash has eclipsed previous governance complaints against Toyota.

In August, the Asian Corporate Governance Association advocacy group raised concerns about the buyout in a letter to TICO and Toyota signed by some two dozen investors. They cited inadequate financial disclosure ‍and said Toyota group companies shouldn't be classified as minority shareholders, as that lowers the voting threshold Toyota would need to clinch the deal.

The Toyota Fudosan representative said the group companies were independent, listed firms that made their own decisions. TICO released more financial details this month.

Not everyone views Japan's efforts to prioritize shareholders as entirely positive. Japan risks having its manufacturing prowess eroded by U.S.-style "short-termism and financialization" where quarterly earnings take precedence over long-term investment, said Ulrike Schaede, a professor of Japanese business at University of California San Diego.

One executive at a Toyota group company said those complaining about price were chasing quick returns, at odds with the longer-term view typically taken ​by Japanese companies.

A person familiar with Elliott's thinking said the fund had approached the deal with a focus on corporate value and that had resonated with other investors.

The ‍Toyota representative said the group recognizes investors may have different investment horizons.

Inside the Toyota group, there is a "sense of concern" about Elliott, one person said, adding the automaker hadn't expected the fund to start raising its stake last month.

Elliott has been a shareholder in TICO for more than a year, two people said. It first confirmed a 3.3% holding ​in November, which it has since doubled.

In a filing that month, the activist fund flagged that it could increase its stake to 20% or more.

Reporting by Maki Shiraki, Daniel Leussink, David Dolan and Anton Bridge; Additional reporting by Miho Uranaka, Sam Nussey and Makiko Yamazaki; Editing by David Crawshaw.

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

Daniel Leussink is a correspondent in Japan. Most recently, he has been covering Japan’s automotive industry, chronicling how some of the world's biggest automakers navigate a transition to electric vehicles and unprecedented supply chain disruptions. Since joining Reuters in 2018, Leussink has also covered Japan’s economy, the Tokyo 2020 Olympics, COVID-19 and the Bank of Japan’s ultra-easy monetary policy experiment.

David Dolan helps lead Reuters coverage of Japan, with a focus on business news. He joined Reuters in Tokyo in 2004 and later worked in South Africa and Turkey, where he was also deputy bureau chief.