Market Signal Briefing

CryptoNews

Blockchain.com Reportedly Exploring SPAC Route Amid Wave of Crypto Listings

TL;DR: Blockchain.com has held talks to go public through a SPAC merger, advised by Cohen & Company Capital Markets, although no final agreement has been

CryptoNews

New Platform Brings Real Estate Mortgages On-Chain With Stablecoin-Funded Investment Pools

TL;DR: CoinLander offers tokenization of real estate mortgages, allowing investment with USDT in real estate pools previously exclusive to institutions. Investors aim for a minimum

CryptoCurrency News

Polychain, Kraken, and Blockchain.com Join $110M BERA Treasury Round

TL;DR: Polychain Capital leads a $110 million investment to develop Berachain’s treasury, with participation from Kraken and Blockchain.com. The project introduces the concept of “Proof

Regulation

Crypto Executives to Meet Senate Democrats Amid Growing Pressure for Regulation

TL;DR: Executives from Coinbase, Chainlink, Kraken, Ripple, Circle, and others meet with Democratic senators led by Kirsten Gillibrand to discuss crypto market regulation. The meeting

CryptoNews

Coinbase Reported Connectivity Issues Tied to AWS Cloud Problems

TL;DR: The service outage in AWS US-EAST-1, especially in DynamoDB, caused access failures that affected Coinbase and several thousand other services. Coinbase confirmed that users

flash news

BIO Skyrockets nearly 40% on Upbit Debut as DeSci Tokens Regain Momentum

BIO Protocol (BIO) surged nearly 40% today after its official listing on Upbit, South Korea’s largest cryptocurrency exchange by trading volume. The exchange confirmed that

5 minutes ago

SharpLink increased its ETH holdings following a $76.5 million raise, with staking rewards topping $23 million since its treasury launch in June.

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SharpLink Gaming has expanded its Ether treasury to 859,853 ETH, worth roughly $3.5 billion, following a $76.5 million capital raise completed on Friday. 

The company announced the acquisition of an additional 19,271 ETH at an average cost of $3,892 per Ether (ETH) in a press release on Tuesday.

SharpLink earned 5,671 ETH in staking rewards since launching its Ethereum treasury strategy in June. At current prices of about $4,100 per ETH, those rewards are worth around $23.25 million.

Staking allows SharpLink to deploy its ETH holdings as validators on Ethereum’s proof-of-stake network, turning part of its treasury into a yield-generating asset through rewards.

Source: Yahoo FinanceSharpLink was the first publicly traded company to announce a treasury strategy around Ethereum’s native token Ether on May 27, with an initial private investment in public equity (PIPE) of $425 million. 

The company’s stock price has surged by over 450% in the past six months, according to data from Yahoo Finance.

Bitmine takes advantage of ETH price dipSharplink is currently the second-largest Ethereum treasury asset company behind Bitmine Immersion Technologies, which launched its treasury on June 30 with a $250 million private investment.

On Monday, Bitmine purchased another $250 million in ETH, bringing its total stash to roughly 3.24 million tokens, valued at more than $13 billion at time of writing.

The company now owns 2.74% of the total supply, putting it more than halfway to its goal of owning 5% of all ETH in circulation. Bitmine Chairman Tom Lee said the current “price dislocation represents an attractive risk/reward.”

Over the past 14 days, the price of ETH has dropped around 14% and around 9.6% on the month, according to data from CoinGecko at the time of writing.

Top 10 Ethereum treasury companies. Source: Strategicethreserve.xyzOwning ETH and other proof-of-stake assets provides the opportunity to stake them for yield, earning rewards for helping validate network transactions, thus generating passive income.

Ether Machine, the third-largest Ethereum treasury company with  496,710 ETH, launched on July 21 as a yield-bearing Ether fund targeting institutional investors.

According to data from Strategicethreserve.xyz, there are currently 69 Ethereum treasury companies holding a total of 5.74 million ETH.

Magazine: Sharplink exec shocked by level of BTC and ETH ETF hodling: Joseph Chalom

Hyperliquid (HYPE) has had a turbulent week as the broader altcoin market faces intense selling pressure. After weeks of steady growth, the token is now testing key support levels, with bulls struggling to regain control. Despite the ongoing correction across the crypto landscape, sentiment around Hyperliquid remains mixed — while traders brace for more downside, some optimistic analysts see potential for recovery in the coming weeks.

According to fresh data from CryptoQuant, whales are going long on HYPE, signaling renewed confidence among large investors even as retail sentiment weakens. These whale moves often mark the early stages of a rebound, especially when they occur during heightened volatility. Analysts note that such positioning can indicate that smart money is preparing for a potential market reversal, or at least for a relief rally once selling pressure cools off.

Still, the short-term outlook remains uncertain. With the market environment dominated by fear and liquidity thinning out, Hyperliquid’s price action in the coming days will be critical in determining whether it can hold its current support zone or if another leg down awaits. For now, all eyes are on whale behavior — and what it might be signaling next.

Big Players Bet on a Hyperliquid Rebound
Altcoin data analyst Kate Young Ju shared fresh insights into Hyperliquid’s futures market, revealing that the average order size has significantly increased, signaling that large investors — or “big players” — are positioning for a potential price surge. According to the data, institutional-scale orders have become more frequent over the past week, a clear indication that market participants with deep capital are starting to take calculated long positions despite the ongoing volatility.

Hyperliquid Futures Average Order Size | Source: CryptoQuant
This comes after a remarkable year for Hyperliquid, which has rapidly emerged as one of the most innovative decentralized perpetual exchanges in the market. Built on its own high-performance Layer 1, Hyperliquid has attracted both traders and liquidity providers through features like zero gas fees, fast settlement, and native HYPE staking rewards. Since its early 2025 rally, the protocol has seen exponential growth in trading volumes and community engagement, solidifying its position among top DeFi derivatives platforms.

The rise in futures order size reflects growing confidence that HYPE may recover from its recent drawdown. Historically, such activity often precedes a reversal, as whales and sophisticated traders tend to accumulate during market uncertainty. This accumulation phase suggests a potential shift in momentum — where smart money is preparing for the next leg up while retail sentiment remains cautious.

If Hyperliquid’s price action stabilizes and macro conditions improve, this whale-driven accumulation could act as the foundation for a strong rebound phase. However, analysts warn that a lack of follow-through from retail traders or a broader crypto selloff could still dampen short-term momentum. For now, the data paints a compelling picture: big players are quietly betting that Hyperliquid’s story isn’t over — it might just be entering its next major chapter.

HYPE Analysis: Testing Key Support After Weeks of Volatility
Hyperliquid (HYPE) is currently trading around $35.6, down more than 6% on the day, as the token continues to face heavy selling pressure. The daily chart reveals that HYPE has entered a critical support zone near the 200-day moving average (red line), which sits around $34–$35. This level has acted as a strong base during previous corrections, particularly during April and July, when similar pullbacks led to renewed bullish momentum.

However, price action has weakened notably after failing to reclaim the 50-day moving average (blue line) near $42, turning it into short-term resistance. The series of lower highs and sharp rejections from this zone highlight a market struggling to regain confidence.

On a broader view, HYPE remains in an uptrend, but the structure is under pressure. If the token manages to consolidate above $35, it could attract buyers aiming for a rebound toward the $40–$42 area. Conversely, a breakdown below $34 could accelerate losses toward $28, the next significant support level.

Featured image from ChatGPT, chart from TradingView.com

BitcoinOS (BOS), the operating system reimagining Bitcoin for digital economies, has raised $10 million in strategic funding from leading investors, including Greenfield Capital, FalconX, and the Bitcoin Frontier Fund, to expand its institutional BTCFi infrastructure.

In brief
A young teen girl was hospitalized in New Delhi, India after popular streamer Sam Pepper hit her in the face with a firework.
The controversial British prankster told Decrypt that he paid the victim's family in cash to cover hospital fees, and that he won't be playing with fireworks again.
Pepper was banned from both the Pump.fun and Kick streaming platforms after livestreaming the act.
Content creator Sam Pepper was banned from livestreaming platforms Pump.fun and Kick after sending a young teen to the hospital in New Delhi, India, by hitting them in the face with a firework while live.

Pepper and his friends had been firing Roman candle-style fireworks at each other during the Diwali festival, with locals joining in on the chaos. Any enjoyment quickly turned sour when the British influencer directly hit a local young teen in the face with a firework.

“Oh my god! Oh my god, headshot,” Pepper screamed as if he were playing Call of Duty, grinning ear-to-ear and letting out a battle cry, pumping one fist in the air. His excitement soon faded as the damage became more apparent, and the injured girl was rushed to the hospital on the back of a bike.

Pepper told Decrypt the young teen was “cut above their eyebrow from the point of the rocket,” and went to the hospital to get a “butterfly stitch and [then] was released.” A local said on the livestream that he’d been told that the victim had lost her eye, although the local was skeptical.

“I had a friend go and make sure they were okay, and called the family. And [I] apologized and made sure to give them some compensation for the situation and the hospital fees,” Pepper told Decrypt. “I feel extremely bad about this situation, and will [in] no way be playing with fireworks again.”

Pepper claimed that the girl's "vision is fine,” and that he sent his friend to the hospital with cash, so Pepper couldn’t prove what he’d paid for. “The family don’t speak English, so I briefly said sorry, but that’s it. [I] was too embarrassed to bother them more than that,” he added.

The streamer told Decrypt that he had been "temporarily banned" from Pump.fun, and had received a formal warning. His profile still appeared to be streaming throughout Tuesday morning. However, Pump.fun co-founder Alon Cohen told Decrypt that Pepper was banned from the platform, and it was implemented on the platform a couple of hours afterward. The Brit was also banned from Kick, where he had cross-streamed the incident.

While the firework incident went viral, the livestreamer's NERVE meme coin—which was launched on Solana via Pump.fun—has dropped nearly 16% to a $148,000 market capitalization over the past 24 hours, according to DEX Screener.

This isn’t the first time that Pepper has found himself in hot water over controversial online content.

Back in 2014, he was investigated by the LAPD on suspicion of a sexual offense against women after posting a YouTube video called “Fake Hand Ass Pinch Prank,” in which he inappropriately touched multiple women. He also uploaded a video doing the same to men.

Both videos were eventually taken down, and he claimed it was all part of a social experiment to highlight sexual harassment against men.

A year later, he kidnapped one of his friends and pretended to shoot another friend in front of him for a video. Viewers called it cruel, with a petition demanding its removal gaining significant traction. However, the victim defended the video in a now-deleted post on X, saying that he’s "honestly not mad" and it made his friendship with the faux murder victim "much stronger."

Pepper’s incident, likewise, isn’t the first firework-fueled accident tied to Pump.fun.

Last year, a Florida man doused himself in isopropyl alcohol and had friends shoot fireworks at him in an attempt to pump his DARE meme coin. He quickly went up in flames, and was rushed to the hospital with third-degree burns across 30% of his body. The token price pumped, but the dev couldn’t sell due to his poor physical condition. 

He later quit the project and has been livestreaming safer content under a different token.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

TEMECULA, CALIFORNIA / ACCESS Newswire / October 21, 2025 / Hop-on, Inc. (OTC:HPNN) today announced it has appointed VStock Transfer, LLC as its new stock transfer agent, a foundational move designed to strengthen corporate governance and shareholder transparency ahead of the commercial rollout of its next-generation media and rights platform, Digitalage. The engagement of VStock, a leading technology-driven SEC-registered transfer agent, is a cornerstone of Hop-on's commitment to operational excellence as it prepares to disrupt the creator economy.

DocGo Inc. (NASDAQ:DCGO) M&A Call October 21, 2025 11:00 AM EDT

Company Participants

Mike Cole - Vice President of Investor Relations
Lee Bienstock - CEO & Director
Guy Friedman - Co-Founder, CEO, President, Treasurer, Secretary, VP & Director

Conference Call Participants

Mike Latimore - Northland Capital Markets, Research Division
Ryan Langston - TD Cowen, Research Division
Matthew Shea - Needham & Company, LLC, Research Division
John Granville Pinney - Canaccord Genuity Corp., Research Division
David Larsen - BTIG, LLC, Research Division
Aidan Conniff - Stifel, Nicolaus & Company, Incorporated, Research Division

Presentation

Operator

Greetings, and welcome to the DocGo acquisition of SteadyMD. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to turn the conference over to your host, Mike Cole. Thank you. You may begin.

Mike Cole
Vice President of Investor Relations

Thank you, operator, and thank you all for joining the call today. Before turning the call over to management, I would like to make the following remarks concerning forward-looking statements. All statements made in this conference call other than statements of historical fact are forward-looking statements.

The words will, plan, potential, could, goal, outlook, design, anticipate, aim, believe, estimate, expect, intend, guidance, confidence, target, project and other similar expressions may be used to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance, and we cannot assure you that we will achieve or realize our plans, intentions, outcomes, results or expectations.

Forward-looking statements are inherently subject to substantial risks, uncertainties and assumptions, many of which are beyond our control and which may cause our actual results or outcomes or the timing of results or outcomes to differ materially from those contained in our forward-looking statements.

These risks, uncertainties and assumptions include, but are not limited to, the risk that the cost savings and synergies from the

Recommended For You

Key Takeaways Lockheed Martin's Q3 adjusted EPS rose 2.2% year over year to $6.95, beating expectations.Higher segment sales drove revenues up 8.8% to $18.61 billion, led by the F-35 program.The company raised 2025 EPS guidance to $22.15-$22.35 and reaffirmed strong cash flow targets.
Lockheed Martin Corporation (LMT - Free Report) reported third-quarter 2025 adjusted earnings of $6.95 per share, which beat the Zacks Consensus Estimate of $6.33 by 9.8%. The bottom line increased 2.2% from the year-ago quarter's reported figure of $6.80.

The year-over-year improvement in earnings was primarily driven by higher revenues and operating profit generated in the third quarter of 2025 compared with the prior-year quarter.

Operational Highlights of LockheedNet sales were $18.61 billion, which beat the Zacks Consensus Estimate of $18.56 billion by 0.3%. The top line also inched up 8.8% from $17.10 billion reported in the year-ago quarter.

The year-over-year improvement was driven by higher sales growth registered by LMT’s business segments.

LMT’s BacklogLMT’s backlog as of Sept. 28, 2025, was $179.07 billion compared with $176.04 billion as of Dec. 31, 2024.

The Aeronautics segment accounted for $47.51 billion of the total backlog amount, while the Missiles and Fire Control segment contributed $45.91 billion. The Rotary and Mission Systems segment contributed $47.27 billion, while the Space unit accounted for $38.39 billion.

Lockheed’s Segmental PerformanceAeronautics: Sales increased 11.9% year over year to $7.26 billion. This rise was driven by higher sales volume from the F-35 program.

The segment reported an operating profit of $682 million compared with an operating profit of $659 million in the year-ago quarter. The operating margin, however, contracted 80 basis points (bps) to 9.4%.

Missiles and Fire Control: Quarterly sales improved a solid 14.1% year over year to $3.62 billion. This was on account of higher sales from tactical and strike missile programs.

The segment’s operating profit increased 11.8% year over year to $510 million. The operating margin, however, contracted 30 basis points to 14.1%.

Space: The top line improved 9.1% year over year to $3.36 billion, driven by higher sales from strategic and missile defense programs.

The segment’s operating profit increased 21.7% to $331 million. The operating margin also expanded 110 bps to 9.9%.

Rotary and Mission Systems: Quarterly revenues increased 0.1% to $4.37 billion on a year-over-year basis, driven by higher sales from Sikorsky helicopter programs.

The segment reported an operating profit of $506 million compared with an operating profit of $483 million in the third quarter of 2024. The operating margin also expanded 50 bps to 11.6%.

Financial Condition of LMTLockheed’s cash and cash equivalents totaled $3.47 billion as of Sept. 28, 2025, compared with $2.48 billion at the end of 2024.

Cash from operating activities amounted to $5.34 billion as of Sept. 28, 2025, compared with $5.95 billion a year ago.

Long-term debt as of Sept. 28, 2025, totaled $20.52 billion, down from $19.63 billion as of Dec. 31, 2024.

Lockheed’s 2025 GuidanceLockheed now expects to generate sales in the range of $74.25-$74.75 billion in 2025, narrower than its earlier estimate of $73.75-$74.75 billion. The Zacks Consensus Estimate is pegged at $74.20 billion, which lies below the midpoint of the company’s sales guidance.

LMT has raised its adjusted earnings per share (EPS) guidance. The company now expects to generate adjusted EPS in the range of $22.15-$22.35 compared with the earlier guidance of $21.70-$22.00. The consensus estimate is currently pegged at $21.86 per share, which lies lower than the company’s newly guided range.

Lockheed expects to generate cash from operations of approximately $8.50 billion.

It continues to expect capital expenditure of approximately $1.90 billion.

Lockheed expects to generate a free cash flow of approximately $6.60 billion.

LMT’s Zacks RankUpcoming Defense ReleasesThe Boeing Company (BA - Free Report) is set to report third-quarter 2025 earnings on Oct. 29, 2025, before market open.

The Zacks Consensus Estimate for BA’s loss is pegged at $1.83 per share. The consensus mark for sales is pinned at $21.64 billion, indicating year-over-year growth of 21.3%.

General Dynamics (GD - Free Report) is set to report third-quarter 2025 earnings on Oct. 24, 2025, before market open.

The Zacks Consensus Estimate for GD’s earnings is pegged at $3.73 per share, indicating year-over-year growth of 11.3%. The consensus estimate for sales is pinned at $12.61 billion, indicating year-over-year growth of 8.1%.

Textron Inc. (TXT - Free Report) is set to report its third-quarter 2025 results on Oct. 23, before market open.

The Zacks Consensus Estimate for TXT’s earnings is pegged at $1.47 per share, indicating year-over-year growth of 5%. The consensus estimate for sales is pinned at $3.71 billion, indicating year-over-year growth of 8.1%.

LOS ANGELES, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP reminds investors of the upcoming November 18, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired KBR, Inc. (“KBR” or the “Company”) (NYSE: KBR) securities between May 6, 2025 and June 19, 2025, inclusive (the “Class Period”).

IF YOU SUFFERED A LOSS ON YOUR KBR INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?
On June 19, 2025, KBR’s joint venture, HomeSafe Alliance (“HomeSafe”) announced that it had received a notice from the U.S. Department of Defense’s Transportation Command (TRANSCOM) terminating its multibillion-dollar Household Goods contract “for cause due to [HomeSafe’s] demonstrated inability to fulfill their obligations and deliver high quality moves to Service members.”

On this news, KBR’s stock price fell $3.85, or 7.3%, to close at $48.93 per share on June 20, 2025, thereby injuring investors.

What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Despite the knowledge that TRANSCOM had, for months, had material concerns with HomeSafe’s ability to fulfill the Global Household Goods Contract, Defendants claimed that the partnership was without issue, and would ramp up in future quarters; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired KBR securities during the Class Period, you may move the Court no later than November 18, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [email protected]
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Us:
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email: [email protected]
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.

LOS ANGELES, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP reminds investors of the upcoming October 28, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Dow Inc. (“Dow” or the “Company”) (NYSE: DOW) securities between January 30, 2025 and July 23, 2025, inclusive (the “Class Period”).

IF YOU SUFFERED A LOSS ON YOUR DOW INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?
On June 23, 2025, BMO Capital downgraded its recommendation on Dow from “Market Perform” to “Underperform” and cut its price target on the Company’s stock citing sustained weakness across key end markets and mounting pressure on the Company’s dividend.

On this news, Dow’s stock price fell $0.89, or 3.2%, to close at $26.87 per share on June 23, 2025, thereby injuring investors.

Then, on July 24, 2024, Dow released its second quarter 2025 financial results, reporting a non-GAAP loss per share of $0.42 and net sales of $10.1 billion, missing consensus estimates “reflecting declines in all operating segments.” The Company also revealed that it was cutting its dividend in half, from $0.70 per share to only $0.35 per share, citing the need for “financial flexibility amidst a persistently challenging macroeconomic environment.”

On this news, Dow’s stock price fell $5.30, or 17.5%, to close at $25.07 per share on July 24, 2025, thereby injuring investors further.

What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Dow’s ability to mitigate macroeconomic and tariff-related headwinds, as well as to maintain the financial flexibility needed to support its lucrative dividend, was overstated; (2) the true scope and severity of the foregoing headwinds’ negative impacts on Dow’s business and financial condition was understated, particularly with respect to competitive and pricing pressures, softening global sales and demand for the Company’s products, and an oversupply of products in the Company’s global markets; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Dow securities during the Class Period, you may move the Court no later than October 28, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [email protected]
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Us:
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email: [email protected]
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.

Key Takeaways Danaher's Q3 adjusted EPS rose 10.5% year over year to $1.89, topping consensus estimates.Net sales grew 4.5% to $6.05 billion, with all segments contributing to year-over-year gains.Operating profit jumped 20.5%, expanding margins to 19.1% from 16.5% in the prior year.
Danaher Corporation’s (DHR - Free Report) third-quarter 2025 adjusted earnings of $1.89 per share beat the Zacks Consensus Estimate of $1.71. The bottom line increased 10.5% year over year.

Danaher reported net sales of $6.05 billion, which beat the consensus estimate of $6.00 billion. The metric increased 4.5% year over year, driven by the impressive performance of all the segments.

DHR’s core sales increased 3% year over year in the quarter. Foreign-currency translations had a positive impact of 1.5%.

DHR’s Segmental DiscussionRevenues from the Life Sciences segment totaled $1.79 billion, up 0.5% year over year. We expected the segment’s revenues to be $1.83 billion. However, core sales decreased 1% year over year. Foreign-currency translations had a positive impact of 1.5%. Operating profit was $222 million compared with $35 million reported in the year-ago quarter.

Revenues from the Diagnostics segment totaled $2.46 billion, up 4% year over year. Our estimate for revenues was $2.37 billion. Core sales increased 3.5% year over year, while foreign currency had a positive impact of 1% on sales. However, acquisitions/divestitures impacted sales by 0.5%. Operating profit was $665 million, up 8.1% on a year-over-year basis.

Revenues from the Biotechnology segment totaled $1.80 billion, up 9% year over year. Our estimate was $1.80 billion. Core sales increased 6.5% year over year, while foreign-currency translations had a positive impact of 2.5%. Operating profit was $352 million, down 9.7% year over year.

Danaher’s Margin ProfileIn the third quarter, Danaher’s cost of sales increased 5.5% year over year to $2.53 billion. Gross profit of $3.52 billion increased 3.6% year over year. The gross margin was 58.2% compared with 58.7% in the year-ago quarter.

Selling, general and administrative expenses of $2.00 billion recorded a decrease of 3.3% on a year-over-year basis. Research and development expenses were $378 million, down 1.3% year over year.

Danaher’s operating profit increased 20.5% year over year to $1.15 billion. Operating margin expanded to 19.1% from 16.5% in the year-ago quarter.

DHR’s Balance Sheet and Cash FlowExiting the third quarter, DHR had cash and equivalents of $1.53 billion compared with $2.08 billion at 2024-end. Long-term debt was $16.8 billion at the end of the quarter compared with $15.5 billion at the end of December 2024.

Danaher generated net cash of $4.30 billion from operating activities in the first nine months of 2025 compared with $4.67 billion in the previous year’s comparable period. Capital expenditures totaled $785 million in the same period, down 10.4% year over year. Adjusted free cash flow decreased 7.5% year over year to $3.52 billion in the first nine months of 2025.

In the same period, DHR paid out dividends of $652 million, up 13.8% on a year-over-year basis.

Danaher’s OutlookFor the third quarter, Danaher expects adjusted core sales from continuing operations to increase in the low single digits on a year-over-year basis. The company expects adjusted earnings to be $7.70-$7.80 per share.

DHR’s Zacks RankStocks to ConsiderBetter-ranked companies are discussed below.

Grupo Cibest S.A. (CIB - Free Report) currently sports a Zacks Rank of 1.

Grupo Cibest delivered a trailing four-quarter average earnings surprise of 6.5%. In the past 60 days, the Zacks Consensus Estimate for CIB’s 2025 earnings has increased 3.3%.

ITT Inc. (ITT - Free Report) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 1.5%.

The Zacks Consensus Estimate for ITT’s 2025 earnings has increased 0.2% in the past 60 days.

Flowserve Corporation (FLS - Free Report) presently carries a Zacks Rank of 2. FLS delivered a trailing four-quarter average earnings surprise of 5.5%.

In the past 60 days, the consensus estimate for Flowserve’s 2025 earnings has remained steady.

With China stepping back from U.S. soybeans, investors are eyeing opportunities in the grain market. Sal Gilbertie, CEO Teucrium Trading explains.

Equifax Inc. (NYSE:EFX) Q3 2025 Earnings Call October 21, 2025 8:30 AM EDT

Company Participants

Trevor Burns - Senior Vice President of Corporate Investor Relations
Mark Begor - CEO & Director
John Gamble - Executive VP, CFO & COO

Conference Call Participants

Jeffrey Meuler - Robert W. Baird & Co. Incorporated, Research Division
Toni Kaplan - Morgan Stanley, Research Division
Andrew Steinerman - JPMorgan Chase & Co, Research Division
Manav Patnaik - Barclays Bank PLC, Research Division
Shlomo Rosenbaum - Stifel, Nicolaus & Company, Incorporated, Research Division
Kyle Peterson - Needham & Company, LLC, Research Division
Kevin McVeigh - UBS Investment Bank, Research Division
Surinder Thind - Jefferies LLC, Research Division
Andrew Nicholas - William Blair & Company L.L.C., Research Division
David Paige Papadogonas - RBC Capital Markets, Research Division
Rayna Kumar - Oppenheimer & Co. Inc.
Jun-Yi Xie - Wells Fargo Securities, LLC, Research Division
Faiza Alwy - Deutsche Bank AG, Research Division
Craig Huber - Huber Research Partners, LLC
Kelsey Zhu - Autonomous Research US LP
Scott Wurtzel - Wolfe Research, LLC
Ryan Griffin - BMO Capital Markets Equity Research
Keen Fai Tong - Goldman Sachs Group, Inc., Research Division
Simon Alistair Clinch - Rothschild & Co Redburn, Research Division

Presentation

Operator

Greetings, and welcome to the Equifax Inc. Q3 2025 Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded.

It's now my pleasure to turn the call over to Trevor Burns, Senior Vice President, Head of Corporate Investor Relations. Trevor, please go ahead.

Trevor Burns
Senior Vice President of Corporate Investor Relations

Thanks, and good morning. Welcome to today's conference call. I'm Trevor Burns. With me today are Mark Begor, Chief Executive Officer; and John Gamble, Chief Financial Officer.

Today's call is being recorded. An archive of the recording will be available later today in the IR Calendar section of the News and Events tab at our Investor Relations website.

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NEW YORK, NY / ACCESS Newswire / October 21, 2025 / Every so often, an idea stops belonging to one company and starts belonging to the world. Proof is that idea - and SMX (NASDAQ: SMX ) is the one that made it possible.

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.

That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.

However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.

US Foods (USFD - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

While there are numerous reasons why the stock of this company is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for US Foods is 72.3%, investors should actually focus on the projected growth. The company's EPS is expected to grow 23.9% this year, crushing the industry average, which calls for EPS growth of 5.3%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for US Foods is 13.8%, which is higher than many of its peers. In fact, the rate compares to the industry average of 4.3%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 5.5% over the past 3-5 years versus the industry average of 4.6%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for US Foods. The Zacks Consensus Estimate for the current year has surged 0.3% over the past month.

Bottom LineUS Foods has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination positions US Foods well for outperformance, so growth investors may want to bet on it.

Key Takeaways Pool Corp is set to report Q3 2024 results on Oct. 23, before the market opens.Consensus estimates call for EPS of $3.37 and revenues of $1.45B, both slightly above last year.Growth in private-label chemicals and the POOL360 WaterTest platform may aid quarterly performance.
Pool Corporation (POOL - Free Report) is scheduled to report third-quarter 2025 results on Oct. 23, before market open.

In the last reported quarter, the company’s earnings topped the Zacks Consensus Estimate by 1%, but revenues missed the mark by 0.2%.

How Are Estimates Faring?The Zacks Consensus Estimate for third-quarter earnings per share is pegged at $3.37, indicating an increase of 3.4% from $3.26 reported in the year-ago quarter.

For revenues, the consensus mark is pegged at $1.45 billion. The metric suggests an increase of 1.1% from the year-ago quarter’s reported figure.

Let’s discuss the factors that are likely to have influenced the to-be-reported quarter’s results.

Factors at PlayPool Corp’s third-quarter 2025 performance is likely to have been aided by strong local presence, a robust distribution network and targeted marketing initiatives. Continued momentum in maintenance products, particularly the strong performance of private-label chemical offerings, should contribute positively to results. Furthermore, the expansion of the POOL360 WaterTest platform, ongoing franchise growth and the development of new builder partnerships are anticipated to have enhanced the company’s market position and support both near-term performance and long-term growth prospects.

POOL continues to expand through both organic and inorganic growth strategies, particularly in markets with higher pool densities. During the last quarter, the Pinch A Penny franchise network added five new stores, including its first location in North Carolina, bringing the total to 302 franchised stores.

Management remains confident that favorable demographic trends and increasing demand for at-home leisure — combined with ongoing needs for maintenance and renovation — will support continued demand.

However, macroeconomic uncertainty and evolving policy decisions that may weigh on consumer confidence, combined with persistent high interest rates, continue to place pressure on new pool construction and large-scale renovation projects. Despite these headwinds, POOL Corp’s focus on innovation, disciplined execution, a growing base of aging pools and a strong product sales mix are expected to help offset these challenges in the upcoming results.

What Our Model Says About POOL StockOur proven model does not conclusively predict an earnings beat for Pool Corp this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. But that is not the case here.

POOL’s Earnings ESP: Pool Corp has an Earnings ESP of -0.52%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

POOL’s Zacks Rank: The company has a Zacks Rank #3 at present.

Stocks Poised to Beat Earnings EstimatesHere are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model indicates they have the right combination of elements to post an earnings beat.

Hasbro, Inc. (HAS - Free Report) has an Earnings ESP of +3.93% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Hasbro is expected to register a 4.1% decrease in earnings for the to-be-reported quarter. Hasbro reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 43.8%.

Wynn Resorts, Limited (WYNN - Free Report) presently has an Earnings ESP of +16.91% and a Zacks Rank #2.

 Wynn Resorts’ earnings for the to-be-reported quarter are expected to increase 24.4%. Wynn Resorts reported better-than-expected earnings in one of the trailing four quarters and missed on three occasions, the average surprise being 11.5%.

PENN Entertainment, Inc. (PENN - Free Report) currently has an Earnings ESP of +11.38% and a Zacks Rank of 3.

PENN Entertainment’s earnings for the to-be-reported quarter are expected to increase 58.3%. PENN reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 92.7%.

THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Teledyne Technologies Incorporated (NYSE:TDY) (“Teledyne”) announced today that Teledyne's Board of Directors appointed Laura Black, Managing Director of Needham & Company, LLC, and George C. Bobb III, Teledyne's President and Chief Executive Officer, to Teledyne's Board of Directors. These additions raise the number of Board members to 12. Ms. Black, age 64, has served as a Managing Director of Needham & Company, LLC, a full-service investment ba.

RLUSD launch & XRP's nomination for the USA Strategic Reserve is just the start: what are Ripple holders counting on now?

In brief
Ethereum was up slightly, even after ETFs lost $145 million on Monday.
The delayed U.S. CPI report, now set for October 24 due to the ongoing government shutdown, has become a key risk trigger.
Bitcoin ETFs have rebounded faster than Ethereum funds, with institutions showing stronger confidence in BTC as its dominance remains near 60%.
Ethereum was up 0.5% in the past day even as exchange-traded funds tracking ETH continued to shed assets amid investor nervousness about inflation and other macroeconomic uncertainties.

The second largest crypto by market value was recently changing hands for $3,973. ETH is now 2.3% higher than it was this time last week but trading 9.5% below its price as of a month ago, according to crypto markets aggregator CoinGecko.

Ethereum ETFs shed $145 million on Monday, after losing $311 million last week. However, Bitcoin funds have been faster to rebound from last week, when outflows totaled $1.2 billion, according to U.K. investment firm Farside Investors. BTC funds lost $40.4 million yesterday.

“Presistent redemptions in recent sessions indicate that passive institutional selling remains active, while shrinking leverage and forced liquidations have increased near-term fragility,” Bitunix analyst Dean Chen told Decrypt. “The delayed U.S. CPI release, now set for October 24 due to the government shutdown, has become the key systemic risk trigger of the week.”

Users on Myriad, a prediction market owned by Decrypt parent company Dastan, correctly predicted that the U.S. government shutdown would drag on past mid-October. There was some doubt among users initially that the current shutdown, which has now extended to 20 days, could become the longest in history. To do that, it would need to last 35 days to beat the 2018-2019 shutdown during President Donald Trump’s first term.

But the odds flipped Monday and 60% of Myriad users now think the government will remain closed long enough to become the longest on record.

Meanwhile, institutions have felt more comfortable in BTC than ETH, Nic Puckrin, crypto analyst and co-founder of The Coin Bureau, told Decrypt.

“ETF flows suggest that Bitcoin remains the most trusted crypto asset for institutions, and its dominance remains close to 60%,” he said. “So it’s no surprise that Ethereum ETFs are suffering more.”

He added that although the crypto investors are showing signs of fatigue, “any positive news could reverse that quite sharply.”

Investors are now looking anxiously at  the Bureau of Labor Statistics September Consumer Price Index report set to be released on Friday. It would have been released last week if not for the shutdown, the BLS said.

“From a macro perspective, a stronger-than-expected CPI print could lift the U.S. dollar and real yields, putting renewed pressure on risk assets and potentially sending ETH toward the $3,700 zone,” Chen said. “Conversely, a softer inflation reading could trigger short covering and risk-on flows, helping normalize futures basis and drive a rapid rebound.”

The sentiment is echoed by Ethereum derivatives data, Jean-David Péquignot, chief commercial officer at Deribit by Coinbase, told Decrypt.

“Overall, ETH options point to elevated volatility expectations around CPI, with a defensive tilt short-term but more optimistic undertones,” he said. “A soft CPI could trigger bullish reactions by cooling yields and the dollar, supporting ETH retests of resistance. Stronger inflation data might extend consolidation or trigger downside.”

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Tether, the world's leading stablecoin issuer, has officially surpassed 500 million users worldwide. 

CEO Paolo Ardoino has described this as the "biggest financial inclusion achievement" in history.

Retaining first-mover advantage The firm, which was founded back in 2014 by former child actor Brock Pierce and two other entrepreneurs, pioneered the stablecoin model, becoming a true trailblazer. 

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Despite various controversies, the stablecoin firm has managed to remain on top, and USDT is still the dominant stablecoin with a market cap of $182 billion. 

According to the Tether boss, 37% of USDT users are actually holders. "They are using USDT as their savings account because, you know, they don't have local banks," Ardoino said.

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He has noted that USDT protects holders from developing countries against currency debasement, given that it does not depreciate as their national currency. In such a way, people can become richer by simply parking their money in a safer fiat currency. 

Expanding the greenback's influence Ardoino has been vocal about USDT's role in expanding the role of the US dollar. 

In a February post, the Tether boss stated that the most widely used stablecoin is "the most successful" tool for maintaining the hegemony of the greenback. 

Polymarket has launched 15-minute cryptocurrency prediction markets powered by Chainlink's decentralized oracles.

This is a segment from the 0xResearch newsletter. To read full editions, subscribe.

Hi all, happy Tuesday. While Monday opened strong, weakness prevails broadly across the board. Under the surface, spot DEX volumes and active loans remain near highs. There’s a new token launching this week with Meteora’s MET: Where may fair value lie?

Indices
The week began with strength as BTC moved 7% higher from the low set this past Friday. Launchpads were the top performing sector on Monday’s trading session, while AI was the top loser, reversing some of the relative strength and weakness exhibited by each over the past week. 

Zooming out to the weekly, the recent strength in launchpads positions this sector as the relative winner, only outperformed by Gold, which closed Monday again near a record high. Broadly, most indices remain negative on the weekly following the historic liquidation event. Within the launchpad index, AUCTION, a launchpad on BSC, is the only ticker to show positive gains on the weekly, up 46%.

While shorter timeframes show some green, the monthly demonstrates that almost every crypto index is down over the trailing 30 days. The Oct. 10 liquidation has left broad weakness across the board, with Gold, Crypto Miners, AI and Equity indices being the only areas of strength.

The VIX has retraced significantly, down to 18 after Friday morning’s pop to 29. Both the S&P500 and the Nasdaq traded higher during Monday’s session, closing just a stone’s throw away from a new all-time high. 

Market Update
ETF flows remain muted and negative. Monday shows -$40 million from BTC, -$145 million from ETH, and +$27 million into SOL ETFs. Looking at the weekly, last week saw -$1.5 billion in net outflows across the ETFs, reversing some of the accumulation from a very strong open to October. SOL ETFs were the only product to show net inflows, adding +$14 million.

Within DATCOs, BMNR is running away with it. The vehicle now holds 3,236,014 ETH, more than the holdings of all other ETH DATCOs combined, and 2.67% of the total ETH supply. Notably, BMNR has continued to grow its stack of ETH nearly ~70% since the end of August, while most other ETH DATCOs have flatlined. In doing so, BMNR’s market share of the ETH held by DATCOs grew from 50% toward 65% now.

This story is mirrored in trading volumes of ETH DATCOs. BMNR has accounted for 60-85% of the trading volume of ETH DATCOs, allowing its stock to be the most liquid. This liquidity feature gives the vehicle preferential appetite from bigger allocators, and also reduces the marginal impact on price from ATM share offerings. BMNR seems to be the clear winner in this sector for ETH treasury companies.

Within SOL DATCOs, the picture is less clear. FORD remains the largest vehicle by holdings, with almost the entirety of this size acquired through the proceeds of the PIPE offering. The vehicle has yet to grow its stack meaningfully through ATM share offerings, despite a $4 billion ATM offering program having been authorized.

Going down the list, growth in holdings remains muted, with HSDT recently moving into second place.

Trading volumes for SOL DATCOs tell a similar story. While DFDV was once the majority of this sector’s volumes, the picture has moved towards more of an even split across the top names. While FORD accounts for ~43% of the SOL held by DATCOs, it only accounts ~10% of the sector’s trading volume, showing relatively little turnover in the stock. This data could be good grounds to justify why very little SOL has been stacked through FORD’s ATM offering. 

While BMNR is emerging as a clear winner for the ETH names, the leader in the SOL sector may still be up for grabs. Over the coming month, I would expect volumes to increasingly concentrate around the top names, and funnel the cream to the top.

Meteora’s TGE: What is fair value for MET?
Meteora’s (MET) highly anticipated TGE will take place on Thursday, Oct. 23. Unlike the recent trend of projects conducting an ICO sale, Meteora is not fundraising before TGE. Instead, it’s airdropping to eligible recipients, including Mercurial stakeholders, Meteora LPs, JUP stakers and launchpad partners. Airdrop recipients will receive unlocked MET by default or choose to provide liquidity at launch to earn trading fees (up to a limit of 10% of the total supply of 1 billion tokens).

As historical context, Meteora was launched in February 2023 by the team behind Jupiter, Solana’s largest DEX aggregator and perps trading platform. When Meteora launched, the previous iteration of the protocol, Mercurial Finance, was sunsetted. The reason for shutting down Mercurial, along with its governance token (MER), was that there were significant amounts of MER involved in FTX/Alameda, so the team decided that the best course of action was to rebuild the platform with a new token (MET).

Back in 2023, the team announced that 20% of MET tokens would be distributed to Mercurial stakeholders at TGE. As seen below, the team has kept its initial promise, with 15% allocated to Mercurial stakeholders and 5% to Mercurial Reserve (those directly affected by the FTX insolvency). In addition, the DEX has been running a points program since Jan. 31, 2024, for which a total of 15% of MET will be allocated. At launch, 48% of MET’s supply will be circulating, a high float compared to other notable token launches in the Solana ecosystem, such as JTO, KMNO, or JUP itself (13.5% float at launch).

Source: https://met.meteora.ag/

As mentioned previously, 10% of the total supply (100 million MET) will be used to bootstrap the initial liquidity via a dynamic AMM pool, with a starting price of $0.5 ($500 million valuation) and liquidity spread across to $7.5 billion valuation. Early on, the liquidity pool will be single-sided (MET only), and early buyers will swap their USDC for MET. Note that the pool fees start high and drastically decline over time through a fee scheduler.

Source: https://met.meteora.ag/

Napkin math valuation
DEXs, particularly on Solana, lack a significant moat since they historically do not own the frontend. The best example of this dynamic is Raydium losing millions of dollars in volume and revenue after Pump decided to redirect graduated coins to its own AMM, PumpSwap. Meteora has attempted to mitigate this issue by vertically integrating, expanding its distribution capabilities via Jupiter and select launchpad partners. 

As mentioned, the DEX is operated closely with the Jupiter team, which has become the gateway for less sophisticated retail users to trade onchain. In addition, Meteora partnered with Moonshot in August 2024 to introduce a launchpad and has onboarded new partners over time, including Believe, BAGS and Jup Studio. The chart below shows that launchpad activity has contributed between $200K-$800K in weekly revenue for Meteora in recent weeks, with most flows coming from Believe and BAGS.

Looking at overall financials, Meteora has generated $8.8 million in revenue in the past 30 days across all of its pools, with weekly revenue consistently nearing $1.5 million, even in periods of relatively low onchain activity. To note, over 90% of Meteora’s revenue comes from memecoin pools, which generally have higher fee tiers than SOL-stablecoin, project tokens, LST and stable-to-stable pools. 

Regarding valuation, we can look at Raydium and Orca as comps. The chart below shows RAY and ORCA’s price-to-sales ratio year to date on a 30-day annualized basis. We observe that both assets have been priced at relatively similar ratios up until September, when RAY began trading at a premium. Zooming out, both assets have seen a median P/S of 9x in 2025. 

The table below compares RAY and ORCA’s P/S ratios across various lookback periods. We observe that ORCA is trading very similarly across all annualized timeframes, at around a 6x P/S ratio. In contrast, RAY has become more expensive over recent months as revenues have declined. On its part, we see that Meteora’s annualized revenue falls between ~$75 and ~$115 million, depending on the lookback period. 

Finally, below we show MET’s potential valuation across various revenue and P/S ranges. In our view, a P/S between 6x and 10x is most likely based on how RAY and ORCA have been historically priced. As such, we could reasonably expect MET to trade between $450 million and $1.1 billion after launch (circulating market cap). Note that based on the figures below, valuation starts getting a bit expensive over $1 billion relative to comps, and over $2 billion MET would be almost definitely overvalued, unless it can increase its revenue run rate.

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Tags0xResearch Newslettertokens

Tether is focusing its half-billion-user influence on a critical pain point, with the Kotani Pay deal designed to empower African SMEs by slashing the cost and time of international money transfers.

Summary

Tether celebrates 500 million users as it invests in Kenya-based Kotani Pay to expand access to digital payments across Africa.
The deal aims to reduce cross-border transaction costs and integrate USDT with mobile money and banking networks.

According to a press release dated Oct. 21, Tether has made a strategic investment in Nairobi-based fintech Kotani Pay. The move positions the world’s largest stablecoin issuer to directly embed its USDT token within Africa’s burgeoning digital payments landscape.

Kotani Pay specializes in blockchain on- and off-ramps, building bridges between digital assets like USDT and local payment methods, including mobile money and bank transfers across the continent. Tether CEO Paolo Ardoino stated that the investment aligns with the company’s goal to “reduce friction in cross-border transactions” for both enterprises and individuals.

“Kotani Pay’s vision and strong regional presence make it the right fit to drive our shared goals in Africa and beyond. Together, we aim to empower enterprises and individuals to access digital assets for their global operations and build a more inclusive financial future while promoting the informed use of digital assets,” Ardoino said.

Tether’s milestone underscores a shift in stablecoin adoption
Tether is marking the investment alongside another milestone. The company now facilitates transactions for over half a billion people worldwide through its USDT stablecoin, cementing its role as the industry’s bedrock with a towering $182 billion market cap.

While Tether hasn’t broken down that figure by region, its gaze is fixed on Africa, where it sees its next chapter of growth unfolding. The firm points to a Chainalysis report revealing a 52% explosion in on-chain transaction volume across Sub-Saharan Africa, which rocketed past $205 billion in a single year.

Behind that surge are small business owners and individuals turning to digital assets as a lifeline. They’re navigating the same harsh realities the data confirms: soaring inflation, unpredictable local currencies, and banking systems that have left many behind.

To put faces to these numbers, Tether released a short documentary from Kenya. The film highlights local merchants using USDT to pay international suppliers and families relying on it to receive remittances from abroad. It’s a grassroots look at how a global digital dollar is providing a tangible anchor in economies often defined by their volatility.

Bitcoin Cash continues its mission to deliver fast, affordable, and scalable peer-to-peer payments. With the upcoming May 2026 network upgrade, the blockchain doubles down on usability. Bitcoin Cash Advances On-Chain Innovation With Four New CHIPs in 2026 Network Upgrade At Bitcoin.com, our mission is to make economic freedom accessible to everyone.

A US judge blocked a LIBRA crypto seizure, ruling no proof tied the funds to Argentina’s government.Evidence instead hinted that President Javier Milei, his sister Karina, and Hayden Mark Davis may control the assets.The decision deepens intrigue around Milei’s crypto links and derails creditors’ $1.5B recovery efforts.A US court rejected a seizure request by international investment funds that sought to link crypto funds linked to the LIBRA scandal to the Argentine State. 

Instead, a judge noted that the evidence pointed toward private individuals as the parties controlling the funds. The conclusion further complicated the involvement of Argentine President Javier Milei, his sister Karina, and LIBRA promoter Hayden Mark Davis.

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Judge Points Finger at Milei InsidersThis week, Federal Judge Jennifer Rochon in the Southern District of New York denied a request by international investment funds that had attempted to seize LIBRA cryptocurrency assets by linking them to the Argentine State.

Rochon argued that the evidence was insufficient to prove state ownership. Instead, she suggested that the millions generated by LIBRA could belong to Milei, his sister and Secretary General Karina Milei, or Mark Hayden Davis, who helped launch and promote the meme coin.

$Libra: la jueza Rochon le negó la información de las ganancias de la estafa global a un fondo que litiga contra Argentina. Dijo que no afirma (ni niega) que los más de 100 millones de dólares que admitió tener Hayden Mark Davis puedan ser de él, Javier Gerardo y Karina Milei.👇 pic.twitter.com/4LRT8NNxU7

— Juan Alonso (@jotaalonso) October 21, 2025
The ruling frustrated the funds’ attempt to locate assets to recover a loan to Argentina after the country suffered an acute economic crisis in 2001.

The asset seizure case is legally distinct from the civil class-action lawsuit filed against Milei by retail investors over their $251 million in losses. Nonetheless, it still highlights and complicates his connection to the broader scandal.

Sponsored

Why Foreign Creditors Tried Seizing LIBRA AssetsThe request to Rochon represented a calculated move by four major investment funds seeking to get paid for a major debt.

Palladian Partners, HBK Master Fund, Hirsh Group, and Virtual Emerald International Limited comprise the four financial firms that own bonds that were part of the major debt restructuring following Argentina’s massive 2001 sovereign default. 

Specifically, they hold GDP-linked securities, which promise creditors a payout if Argentina’s economy grows above a certain threshold. In 2019, these funds sued Argentina in a UK court, arguing that the country had incorrectly calculated its GDP to avoid triggering the payment on these bonds.

In 2023, the court ruled in the funds’ favor, ordering that Argentina pay them over $1.5 billion in debt owed. However, since then, Argentina has failed to do so.

Sponsored

In light of this, the funds have launched a global campaign to locate and seize any assets belonging to the Argentine State that they could find in other countries.

Following the LIBRA scandal, the funds have sought to justify the seizure of millions of dollars generated by insiders due to the token launch.

Creditors’ Crypto Bid Backfires on MileiThe four international investment funds targeted the LIBRA scandal because it was a new, high-value asset that Milei strongly promoted.

In their latest appeal before the Southern District of New York, these funds needed to prove that the billions generated by the token belonged to the Argentine state, not to private individuals.

Sponsored

If they could prove this, they could legally try to seize the LIBRA profits to cover their debt. The funds requested extensive documentation from Meteora, the Solana platform that launched LIBRA. They also demanded testimony from several individuals to prove their cause.

However, the fruits of their efforts actually backfired.

Judge Rochon rejected the funds’ request because the creditors failed to provide enough credible information to justify involving the US court system in a dispute primarily concerning a foreign state and foreign creditors.

The funds were criticized for engaging in a “fishing excursion,” meaning they were not seeking specific, relevant evidence. Instead, they used the court’s power to conduct a speculative investigation into the entire cryptocurrency operation.

She noted specifically that their evidence pointed to private ownership, further complicating Milei’s participation in the scandal. 

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