Market Signal Briefing

PIKEVILLE, Ky.--(BUSINESS WIRE)--Community Trust Bancorp, Inc. (NASDAQ-CTBI):

Earnings Summary

(in thousands except per share data)

3Q

2025

2Q

2025

3Q

2024

YTD

2025

YTD

2024

Net income

$23,911

$24,899

$22,142

$70,782

$60,320

Earnings per share

$1.33

$1.38

$1.23

$3.93

$3.36

Earnings per share - diluted

$1.32

$1.38

$1.23

$3.92

$3.36

Return on average assets

1.46%

1.58%

1.50%

1.50%

1.38%

Return on average equity

11.53%

12.51%

11.77%

11.84%

11.15%

Efficiency ratio

50.86%

50.70%

51.75%

51.12%

52.91%

Tangible common equity

11.65%

11.72%

11.79%

Dividends declared per share

$0.53

$0.47

$0.47

$1.47

$1.39

Book value per share

$45.91

$44.57

$42.14

Weighted average shares

18,019

18,012

17,962

18,009

17,942

Weighted average shares - diluted

18,053

18,036

17,991

18,037

17,965

Community Trust Bancorp, Inc. (NASDAQ-CTBI) achieved earnings for the third quarter 2025 of $23.9 million, or $1.33 per basic share, compared to $24.9 million, or $1.38 per basic share, earned during the second quarter 2025 and $22.1 million, or $1.23 per basic share, earned during the third quarter 2024. Total revenue for the quarter was $1.3 million above prior quarter and $8.7 million above prior year same quarter. Net interest revenue for the quarter increased $1.5 million compared to prior quarter and $8.4 million compared to prior year same quarter, and noninterest income decreased $0.2 million compared to prior quarter but increased $0.4 million compared to prior year same quarter. Our provision for credit losses for the quarter increased $1.8 million from prior quarter and $1.1 million from prior year same quarter. Noninterest expense increased $1.1 million compared to prior quarter and $4.2 million compared to prior year same quarter. Earnings for the nine months ended September 30, 2025 were $10.5 million, or $0.57 per basic share, above prior year.

3rd Quarter 2025 Highlights

Net interest income for the quarter of $55.6 million was $1.5 million, or 2.8%, above prior quarter and $8.4 million, or 17.7%, above prior year same quarter, as our net interest margin decreased 4 basis points from prior quarter but increased 21 basis points from prior year same quarter.

Provision for credit losses at $3.9 million for the quarter increased $1.8 million from prior quarter and $1.1 million from prior year same quarter.

Noninterest income for the quarter ended September 30, 2025 of $15.9 million was $0.2 million, or 1.4%, below prior quarter but $0.4 million, or 2.5%, above prior year same quarter.

Noninterest expense for the quarter ended September 30, 2025 of $36.7 million was $1.1 million, or 3.0%, above prior quarter and $4.2 million, or 13.0%, above prior year same quarter.

Our loan portfolio at $4.8 billion increased $92.1 million, an annualized 7.8%, from June 30, 2025 and $443.4 million, or 10.2%, from September 30, 2024.

We had net loan charge-offs of $2.7 million, an annualized 0.23% of average loans, for the third quarter 2025 compared to $1.4 million, an annualized 0.12% of average loans, for the second quarter 2025 and $1.5 million, an annualized 0.14% of average loans, for the third quarter 2024.

Our total nonperforming loans at $24.7 million at September 30, 2025 increased $0.3 million from June 30, 2025 but decreased $0.4 million from September 30, 2024. Nonperforming assets at $29.5 million increased $0.3 million from June 30, 2025 and $3.1 million from September 30, 2024.

Deposits, including repurchase agreements, at $5.7 billion increased $212.2 million, an annualized 15.4%, from June 30, 2025 and $598.7 million, or 11.8%, from September 30, 2024.

Shareholders’ equity at $831.4 million increased $24.5 million, an annualized 12.0%, during the quarter and $70.6 million, or 9.3%, from September 30, 2024.

Net Interest Income

Percent Change

(%)

3Q 2025

Compared to:

($ in thousands)

3Q

2025

2Q

2025

3Q

2024

2Q

2025

3Q

2024

YTD

2025

YTD

2024

Percent

Change

(%)

Components of net interest income:

Income on earning assets

$88,562

$85,571

$79,814

3.5

11.0

$256,187

$231,464

10.7

Expense on interest bearing liabilities

33,008

31,531

32,615

4.7

1.2

95,326

94,996

0.3

Net interest income

55,554

54,040

47,199

2.8

17.7

160,861

136,468

17.9

TEQ

301

283

280

6.4

7.5

857

866

(1.1)

Net interest income, tax equivalent

$55,855

$54,323

$47,479

2.8

17.6

$161,718

$137,334

17.8

Average yield and rates paid:

Earning assets yield

5.73%

5.76%

5.72%

(0.5)

0.2

5.73%

5.64%

1.6

Rate paid on interest bearing liabilities

3.01%

3.00%

3.36%

0.3

(10.4)

3.01%

3.34%

(9.9)

Gross interest margin

2.72%

2.76%

2.36%

(1.4)

15.3

2.72%

2.31%

17.7

Net interest margin

3.60%

3.64%

3.39%

(1.1)

6.2

3.61%

3.34%

8.1

Average balances:

Investment securities

$1,006,259

$1,002,412

$1,091,258

0.4

(7.8)

$1,018,062

$1,111,411

(8.4)

Loans

$4,736,104

$4,668,001

$4,300,652

1.5

10.1

$4,646,475

$4,196,884

10.7

Earning assets

$6,151,134

$5,983,093

$5,570,160

2.8

10.4

$5,995,216

$5,499,608

9.0

Interest-bearing liabilities

$4,353,313

$4,215,573

$3,859,978

3.3

12.8

$4,236,566

$3,803,491

11.4

Net interest income for the quarter of $55.6 million was $1.5 million, or 2.8%, above prior quarter and $8.4 million, or 17.7%, above prior year same quarter. Our net interest margin, on a fully tax equivalent basis, at 3.60% decreased 4 basis points from prior quarter but increased 21 basis points from prior year same quarter. Our quarterly average earning assets increased $168.0 million, an annualized 11.1%, from prior quarter and $581.0 million, or 10.4%, from prior year same quarter. Our yield on average earning assets decreased 3 basis points from prior quarter but increased 1 basis point from prior year same quarter, while our cost of funds increased 1 basis point from prior quarter but decreased 35 basis points from prior year same quarter. Net interest income for the nine months ended September 30, 2025 at $160.9 million was $24.4 million or 17.9% above prior year.

Our ratio of average loans to deposits, including repurchase agreements, was 85.6% for the quarter ended September 30, 2025 compared to 86.6% for the quarter ended June 30, 2025 and 85.8% for the quarter ended September 30, 2024.

Noninterest Income

Percent Change

(%)

3Q 2025

Compared to:

($ in thousands)

3Q

2025

2Q

2025

3Q

2024

2Q

2025

3Q

2024

YTD

2025

YTD

2024

Percent

Change

(%)

Deposit related fees

$8,131

$7,350

$7,886

10.6

3.1

$22,303

$22,205

0.4

Trust revenue

4,277

4,092

3,707

4.5

15.4

12,350

10,960

12.7

Gains on sales of loans

89

77

80

15.6

11.3

213

244

(12.7)

Loan related fees

897

1,249

813

(28.1)

10.4

3,111

3,485

(10.7)

Bank owned life insurance revenue

1,144

1,102

1,214

3.8

(5.8)

3,281

4,321

(24.1)

Brokerage revenue

588

526

563

11.8

4.5

1,608

1,736

(7.4)

Other

820

1,775

1,300

(53.8)

(36.9)

4,148

3,454

20.1

Total noninterest income

$15,946

$16,171

$15,563

(1.4)

2.5

$47,014

$46,405

1.3

Noninterest income for the quarter ended September 30, 2025 of $15.9 million was $0.2 million, or 1.4% below prior quarter but $0.4 million, or 2.5% above prior year same quarter. The variance quarter over quarter was primarily the result of decreases in net securities gains ($0.6 million) and loan related fees ($0.4 million), partially offset by increased deposit related fees ($0.8 million). The decrease in securities gains was the result of a change in the valuation of our equity securities. The decrease in loan related fees was the result of the change in valuation of our mortgage servicing rights. Year over year increases in trust revenue ($0.6 million) and deposit related fees ($0.2 million) were partially offset by a decrease in securities gains ($0.7 million). Noninterest income for the nine months ended September 30, 2025 of $47.0 million was a $0.6 million, or 1.3%, increase from prior year.

Noninterest Expense

Percent Change

(%)

3Q 2025

Compared to:

($ in thousands)

3Q

2025

2Q

2025

3Q

2024

2Q

2025

3Q

2024

YTD

2025

YTD

2024

Percent

Change

(%)

Salaries

$13,913

$13,667

$13,374

1.8

4.0

$40,849

$39,447

3.6

Employee benefits

7,861

7,987

6,147

(1.6)

27.9

22,697

19,787

14.7

Net occupancy and equipment

3,261

3,172

3,072

2.8

6.2

9,873

9,189

7.4

Data processing

3,575

3,326

2,804

7.5

27.5

9,760

7,991

22.1

Legal and professional fees

1,045

1,001

1,024

4.5

2.1

3,271

2,834

15.4

Advertising and marketing

953

765

876

24.5

8.7

2,391

2,309

3.5

Taxes other than property and payroll

564

573

438

(1.6)

28.7

1,666

1,318

26.4

Other

5,572

5,172

4,777

7.7

16.6

16,108

14,279

12.8

Total noninterest expense

$36,744

$35,663

$32,512

3.0

13.0

$106,615

$97,154

9.7

Noninterest expense for the quarter ended September 30, 2025 of $36.7 million was $1.1 million, or 3.0%, above prior quarter and $4.2 million, or 13.0%, above prior year same quarter. The quarter over quarter increase primarily resulted from increases in repossession expense ($0.4 million), data processing expense ($0.2 million), and marketing and promotional ($0.2 million). A $1.3 million increase in group medical and life insurance expense was partially offset by a $1.2 million decrease in the accrual for the annual incentive payment to employees, based on projected net income for the year. The year over year increase included increases in personnel expense ($2.3 million, data processing expense ($0.8 million), repossession expense ($0.4 million), and marketing and promotional ($0.2 million). The increase in personnel expense included a $1.2 million increase in group medical and life insurance expense, a $0.5 million increase in salaries, a $0.2 million increase in bonuses and incentives, and a $0.4 million increase in other employee benefits. Noninterest expense for the nine months ended September 30, 2025 of $106.6 million increased $9.5 million, or 9.7%, from prior year.

Balance Sheet Review

Total Loans

Percent Change (%)

3Q 2025 Compared to:

($ in thousands)

3Q

2025

2Q

2025

3Q

2024

2Q

2025

3Q

2024

Commercial nonresidential real estate

$921,682

$913,463

$834,985

0.9

10.4

Commercial residential real estate

573,270

559,906

485,004

2.4

18.2

Hotel/motel

483,833

477,175

453,465

1.4

6.7

Other commercial

446,125

432,021

440,636

3.3

1.2

Total commercial

2,424,910

2,382,565

2,214,090

1.8

9.5

Residential mortgage

1,157,540

1,112,672

1,003,123

4.0

15.4

Home equity loans/lines

184,191

177,135

163,013

4.0

13.0

Total residential

1,341,731

1,289,807

1,166,136

4.0

15.1

Consumer indirect

877,555

878,506

816,187

(0.1)

7.5

Consumer direct

149,719

150,915

154,061

(0.8)

(2.8)

Total consumer

1,027,274

1,029,421

970,248

(0.2)

5.9

Total loans

$4,793,915

$4,701,793

$4,350,474

2.0

10.2

Total Deposits and Repurchase Agreements

Percent Change (%)

3Q 2025 Compared to:

($ in thousands)

3Q

2025

2Q

2025

3Q

2024

2Q

2025

3Q

2024

Noninterest bearing deposits

$1,248,573

$1,258,205

$1,204,515

(0.8)

3.7

Interest bearing deposits

Interest checking

194,327

173,795

156,249

11.8

24.4

Money market savings

1,815,111

1,820,230

1,658,758

(0.3)

9.4

Savings accounts

501,189

508,467

501,933

(1.4)

(0.1)

Time deposits

1,626,261

1,472,311

1,316,807

10.5

23.5

Repurchase agreements

284,863

225,075

233,324

26.6

22.1

Total interest bearing deposits and repurchase agreements

4,421,751

4,199,878

3,867,071

5.3

14.3

Total deposits and repurchase agreements

$5,670,324

$5,458,083

$5,071,586

3.9

11.8

CTBI’s total assets at $6.6 billion as of September 30, 2025 increased $247.2 million, or 15.3% annualized, from June 30, 2025 and $675.2 million, or 11.3%, from September 30, 2024. Loans outstanding at $4.8 billion increased $92.1 million, an annualized 7.8%, from June 30, 2025 and $443.4 million, or 10.2%, from September 30, 2024. The increase in loans from prior quarter included a $42.3 million increase in the commercial loan portfolio, a $51.9 million increase in the residential loan portfolio, partially offset by a $0.9 million decrease in the consumer indirect loan portfolio and a $1.2 million decrease in the consumer direct loan portfolio. CTBI’s investment portfolio increased $42.5 million, an annualized 16.9%, from June 30, 2025 but decreased $59.4 million, or 5.4%, from September 30, 2024. Deposits in other banks increased $117.7 million from prior quarter and $281.4 million from September 30, 2024, as a result of deposit growth outpacing loan growth. Deposits, including repurchase agreements, at $5.7 billion increased $212.2 million, an annualized 15.4%, from June 30, 2025 and $598.7 million, or 11.8%, from September 30, 2024. CTBI is not dependent on any one customer or group of customers for their source of deposits. As of September 30, 2025, two customers accounted for 3% each of our $5.4 billion in deposits. Only two customer relationships accounted for more than 1% each.

Shareholders’ equity at $831.4 million increased $24.5 million, an annualized 12.0%, during the quarter and $70.6 million, or 9.3%, from September 30, 2024. Net unrealized losses on securities, net of deferred taxes, were $71.1 million at September 30, 2025, compared to $80.6 million at June 30, 2025 and September 30, 2024. CTBI’s annualized dividend yield to shareholders as of September 30, 2025 was 3.79%.

Asset Quality

Our total nonperforming loans of $24.7 million at September 30, 2025 increased $0.3 million from June 30, 2025 but decreased $0.4 million from September 30, 2024. Accruing loans 90+ days past due at $9.0 million increased $0.6 million from prior quarter but decreased $10.1 million from September 30, 2024. Nonaccrual loans at $15.6 million decreased $0.3 million from prior quarter but increased $9.7 million from September 30, 2024. Accruing loans 30-89 days past due at $18.5 million decreased $1.6 million from prior quarter and $2.1 million from September 30, 2024. Our loan portfolio management processes focus on the immediate identification, management, and resolution of problem loans to maximize recovery and minimize loss.

We had net loan charge-offs of $2.7 million, an annualized 0.23% of average loans, for the third quarter 2025 compared to $1.4 million, an annualized 0.12% of average loans, for the second quarter 2025 and $1.5 million, an annualized 0.14% of average loans, for the third quarter 2024. Of the net charge-offs for the quarter, $1.2 million were in commercial loans, $0.1 million were in residential loans, $1.2 million were in consumer indirect loans, and $0.2 million were in consumer direct loans. The primary increase in net charge-offs consisted of a $1 million charge-off on one commercial credit totaling $8 million. Net-charge offs for the nine months ended September 30, 2025 were $5.7 million, an annualized 0.16% of average loans, compared to $4.5 million, an annualized 0.14% of average loans, for the nine months ended September 30, 2024.

Allowance for Credit Losses

Our provision for credit losses at $3.9 million for the quarter increased $1.8 million from prior quarter and $1.1 million from prior year same quarter. Of the provision for the quarter, $3.8 million was allotted to fund changes in loan volume and composition, $0.3 million was allotted based on quantitative and qualitative factors, and $0.2 million was credited against the provision for unfunded commitments. Provision for credit losses for the nine months ended September 30, 2025 of $9.5 million was a $1.2 million increase over the nine months ended September 30, 2024. Our reserve coverage (allowance for credit losses to nonperforming loans) at September 30, 2025 was 239.5% compared to 237.1% at June 30, 2025 and 212.7% at September 30, 2024. Our loan loss reserve as a percentage of total loans outstanding at September 30, 2025 remained at 1.23% from June 30, 2025 and September 30, 2024.

Forward-Looking Statements

Certain of the statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. CTBI’s actual results may differ materially from those included in the forward-looking statements. Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “may increase,” “may fluctuate,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” and “could.” These forward-looking statements involve risks and uncertainties including, but not limited to, economic conditions, portfolio growth, the credit performance of the portfolios, including bankruptcies, and seasonal factors; changes in general economic conditions including the performance of financial markets, prevailing inflation and interest rates, realized gains from sales of investments, gains from asset sales, and losses on commercial lending activities; the effects of epidemics, pandemics, or other infectious disease outbreaks; results of various investment activities; the effects of competitors’ pricing policies, changes in laws and regulations, competition, and demographic changes on target market populations’ savings and financial planning needs; industry changes in information technology systems on which we are highly dependent; failure of acquisitions to produce revenue enhancements or cost savings at levels or within the time frames originally anticipated or unforeseen integration difficulties; the resolution of legal proceedings and related matters. In addition, the banking industry in general is subject to various monetary, operational, and fiscal policies and regulations, which include, but are not limited to, those determined by the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, and state regulators, whose policies, regulations, and enforcement actions could affect CTBI’s results. These statements are representative only on the date hereof, and CTBI undertakes no obligation to update any forward-looking statements made.

Community Trust Bancorp, Inc., with assets of $6.6 billion, is headquartered in Pikeville, Kentucky and has 72 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, three banking locations in northeastern Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.

Additional information follows.

Community Trust Bancorp, Inc.

Financial Summary (Unaudited)

September 30, 2025

(in thousands except per share data and # of employees)

 

Three

Three

Three

Nine

Nine

Months

Months

Months

Months

Months

Ended

Ended

Ended

Ended

Ended

September 30, 2025

June 30, 2025

September 30, 2024

September 30, 2025

September 30, 2024

Interest income

$

88,562

$

85,571

$

79,814

$

256,187

$

231,464

Interest expense

33,008

31,531

32,615

95,326

94,996

Net interest income

55,554

54,040

47,199

160,861

136,468

Provision for credit losses

3,866

2,094

2,736

9,528

8,364

 

Gains on sales of loans

89

77

80

213

244

Deposit related fees

8,131

7,350

7,886

22,303

22,205

Trust revenue

4,277

4,092

3,707

12,350

10,960

Loan related fees

897

1,249

813

3,111

3,485

Securities gains (losses)

(449)

150

213

181

110

Other noninterest income

3,001

3,253

2,864

8,856

9,401

Total noninterest income

15,946

16,171

15,563

47,014

46,405

 

Personnel expense

21,774

21,654

19,521

63,546

59,234

Occupancy and equipment

3,261

3,172

3,072

9,873

9,189

Data processing expense

3,575

3,326

2,804

9,760

7,991

FDIC insurance premiums

703

688

629

2,080

1,916

Other noninterest expense

7,431

6,823

6,486

21,356

18,824

Total noninterest expense

36,744

35,663

32,512

106,615

97,154

 

Net income before taxes

30,890

32,454

27,514

91,732

77,355

Income taxes

6,979

7,555

5,372

20,950

17,035

Net income

$

23,911

$

24,899

$

22,142

$

70,782

$

60,320

 

Memo: TEQ interest income

$

88,863

$

85,854

$

80,094

$

257,044

$

232,330

 

Average shares outstanding

18,019

18,012

17,962

18,009

17,942

Diluted average shares outstanding

18,053

18,036

17,991

18,037

17,965

Basic earnings per share

$

1.33

$

1.38

$

1.23

$

3.93

$

3.36

Diluted earnings per share

$

1.32

$

1.38

$

1.23

$

3.92

$

3.36

Dividends per share

$

0.53

$

0.47

$

0.47

$

1.47

$

1.39

 

Average balances:

Loans

$

4,736,104

$

4,668,001

$

4,300,652

$

4,646,475

$

4,196,884

Earning assets

6,151,134

5,983,093

5,570,160

5,995,216

5,499,608

Total assets

6,487,817

6,313,922

5,891,157

6,327,184

5,824,780

Deposits, including repurchase agreements

5,531,461

5,387,923

5,014,506

5,399,692

4,977,040

Interest bearing liabilities

4,353,313

4,215,573

3,859,978

4,236,566

3,803,491

Shareholders' equity

823,016

798,536

748,098

798,996

722,683

 

Performance ratios:

Return on average assets

1.46%

1.58%

1.50%

1.50%

1.38%

Return on average equity

11.53%

12.51%

11.77%

11.84%

11.15%

Yield on average earning assets (tax equivalent)

5.73%

5.76%

5.72%

5.73%

5.64%

Cost of interest bearing funds (tax equivalent)

3.01%

3.00%

3.36%

3.01%

3.34%

Net interest margin (tax equivalent)

3.60%

3.64%

3.39%

3.61%

3.34%

Efficiency ratio (tax equivalent)

50.86%

50.70%

51.75%

51.12%

52.91%

 

Loan charge-offs

$

4,024

$

2,528

$

2,736

$

9,274

$

8,239

Recoveries

(1,276)

(1,175)

(1,212)

(3,598)

(3,692)

Net charge-offs

$

2,748

$

1,353

$

1,524

$

5,676

$

4,547

 

Market Price:

High

$

59.67

$

53.82

$

52.22

$

59.67

$

52.22

Low

$

52.60

$

44.60

$

41.50

$

44.60

$

38.44

Close

$

55.95

$

52.92

$

49.66

$

55.95

$

49.66

 

As of

As of

As of

September 30, 2025

June 30, 2025

September 30, 2024

Assets:

Loans

$

4,793,915

$

4,701,793

$

4,350,474

Allowance for credit losses

(59,135)

(57,825)

(53,360)

Net loans

4,734,780

4,643,968

4,297,114

Loans held for sale

483

345

115

Securities AFS

1,037,965

994,990

1,098,076

Equity securities at fair value

3,961

4,410

3,266

Other equity investments

9,948

14,440

10,060

Other earning assets

438,501

320,830

157,092

Cash and due from banks

71,218

76,556

85,944

Premises and equipment

52,245

52,118

47,519

Right of use asset

15,974

15,210

14,718

Goodwill and core deposit intangible

65,490

65,490

65,490

Other assets

207,564

202,581

183,574

Total Assets

$

6,638,129

$

6,390,938

$

5,962,968

 

Liabilities and Equity:

Interest bearing checking

$

194,327

$

173,795

$

156,249

Savings deposits

2,316,300

2,328,697

2,160,691

CD's >=$100,000

992,728

875,835

753,253

Other time deposits

633,533

596,476

563,554

Total interest bearing deposits

4,136,888

3,974,803

3,633,747

Noninterest bearing deposits

1,248,573

1,258,205

1,204,515

Total deposits

5,385,461

5,233,008

4,838,262

Repurchase agreements

284,863

225,075

233,324

Other interest bearing liabilities

64,641

64,705

64,893

Lease liability

16,909

16,087

15,530

Other noninterest bearing liabilities

54,882

45,194

50,197

Total liabilities

5,806,756

5,584,069

5,202,206

Shareholders' equity

831,373

806,869

760,762

Total Liabilities and Equity

$

6,638,129

$

6,390,938

$

5,962,968

 

Ending shares outstanding

18,110

18,105

18,052

 

30 - 89 days past due loans

$

18,500

$

20,055

$

20,578

90 days past due loans

9,040

8,449

19,111

Nonaccrual loans

15,647

15,937

5,980

Foreclosed properties

4,856

4,857

1,344

 

Community bank leverage ratio

13.68%

13.80%

13.99%

Tangible equity to tangible assets ratio

11.65%

11.72%

11.79%

FTE employees

929

937

943

More News From Community Trust Bancorp, Inc.

Singapore, Oct. 15, 2025 (GLOBE NEWSWIRE) -- AlphaTON Capital (Nasdaq: ATON), a specialized digital-asset treasury company building the Telegram Open Network (TON) ecosystem, announced the winners of the TOKEN2049 Singapore “Origins” Hackathon, which it proudly sponsored and hosted at Marina Bay Sands. The competition drew developers from around the world and awarded a US$25,000 prize pool paid in TON.

AlphaTON Capital (Nasdaq: ATON), a specialized digital-asset treasury company building the Telegram Open Network (TON) ecosystem, announced the winners of the TOKEN2049 Singapore “Origins” Hackathon, which it proudly sponsored and hosted at Marina Bay Sands. The competition drew developers from around the world and awarded a US$25,000 prize pool paid in TON.

“We’re investing in the people who will onboard the next billion people to Web3,” said Brittany Kaiser, CEO of AlphaTON Capital. “The ingenuity we saw at TOKEN2049—especially on TON, where real consumer adoption meets mobile-first design—confirms our conviction that the next wave of crypto will be built by global, product-minded teams. Through this HackATON and the ones ahead, AlphaTON is here to turn bold ideas from builders around the world into products people use—on TON and in Telegram.”

AlphaTON team member and TONCore expert Andrew Zubko set the tracks — AI, Payments and Infrastructure — and Logan Golema, top blockchain developer and AlphaTON’s hackathon lead, mentored teams and led on-site evaluations throughout the week with incredible results:

Track Winners

AI

1st — IntentHub: a marketplace where agents hire specialized agents to complete tasks more efficiently; tasks coordinate on-chain with stablecoin settlement. https://intenthub.com/ 2nd — AI Launchpad on TON (PoC): an AI-powered token launchpad with automated investment workflows; Telegram agents run 24/7 BD to match projects and investors using semantic screening. Payments

1st — Telepay: a secure payroll platform for freelancers on TON testnet; freelancers issue invoices and receive USDT directly to TON wallets. 2nd — AkaTON: a subscription & invoicing bot using USDT on TON; plan selection, invoicing, and management handled fully inside Telegram. 3rd — TAAS (solo dev): on-chain rental & lease agreements for real estate on TON testnet.  Infrastructure

1st — Encrypted Prediction-Market Seeding: a novel mechanism where early positions are hidden until bonding, reducing copy-trade bias — “Polymarket-like, without visible initial bets.” 2nd — USDTonVault: a decentralized investment vault on TON using zero-knowledge proofs to verify trader performance without revealing strategies. 3rd — TFT: TON → xSGD Ramp System, a Telegram Mini App that converts TON to xSGD via a multi-chain swap pipeline. “These teams shipped at warp speed: from payroll and vaults to encrypted market design—all built inside Telegram, where users already are,” said Logan Golema. This is where we’re headed: business, finance, and community without leaving the chat, powered by decentralization and privacy by design. The TON canvas is wide open—you can build almost anything and ship it quickly. We’re excited to keep backing these builders as they turn prototypes into products.”

AlphaTON’s William De'Ath concluded, “I was blown away by the pragmatic, product‑minded teams in Singapore shipping on TON and Telegram with real users in mind. Sustainable growth plus cutting‑edge thinking means exciting, TON revenue creation ahead!”

Beyond Singapore: a Global HackATON Series

Building on the momentum, AlphaTON Capital will sponsor additional HackATONs at major Web3 gatherings worldwide. “With Telegram’s reach approaching the next billion users, TON is the people’s blockchain,” added Kaiser. “We’ll keep backing builders — with capital, mentorship, and routes to market.

About AlphaTON Capital Corp. (Nasdaq: ATON)
AlphaTON Capital is a specialized digital asset treasury company focused on building and managing a strategic reserve of TON tokens and developing the Telegram ecosystem. The Company implements a comprehensive treasury strategy that combines direct token acquisition, validator operations, and strategic ecosystem investments to generate sustainable returns for shareholders. Through its operations, AlphaTON Capital provides public market investors with institutional-grade exposure to the TON ecosystem and Telegram's billion user platform while maintaining the governance standards and reporting transparency of a Nasdaq listed company. Led by Chief Executive Officer Brittany Kaiser and Chairman and Chief Investment Officer, Enzo Villani, the Company's activities span network validation and staking operations, development of Telegram-based applications, and strategic investments in TON-based decentralized finance protocols, gaming platforms, and business applications. AlphaTON Capital Corp is incorporated in the British Virgin Islands and trades on Nasdaq under the ticker symbol “ATON”. AlphaTON Capital, through its legacy business, is also advancing potentially first-in-class therapies that target known checkpoint resistance pathways to potentially achieve durable treatment response and improve quality of life for patients. AlphaTON Capital actively engages in the drug development process and provides strategic counsel to guide development of novel immunotherapy assets and asset combinations.

To learn more, please visit https://alphatoncapital.com/

Forward-Looking Statements
All statements in this press release, other than statements of historical facts, including without limitation, statements regarding the Company's business strategy, plans and objectives of management for future operations and those statements preceded by, followed by or that otherwise include the words "believe," "expects," "anticipates," "intends," "estimates," "will," "may," "plans," "potential," "continues," or similar expressions or variations on such expressions are forward-looking statements.

Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. As a result, forward-looking statements are subject to certain risks and uncertainties, including, but not limited to: the uncertainty of the Company's investment in TON, the operational strategy of the Company, risks from Telegram's platform and ecosystem, the potential impact of markets and other general economic conditions, regulatory considerations, and other factors. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact:
AlphaTON Capital Corp.
Investor Relations
[email protected]

[email protected]
(203) 682-8200

Media Inquiries:
Richard Laermer
RLM PR
[email protected]
(212) 741-5106 X 216

A pair of new contracts has given a lift to IXICO PLC (LSE:IXI, OTC:PHYOF), the London-listed neuroscience data specialist whose shares trade at just 12p.

The company has secured work on the development of a blood-based biomarker diagnostic test, a fast-growing area of research that could make screening for neurological conditions far simpler and cheaper.

It has also extended an existing contract linked to an Alzheimer’s disease clinical trial.

Together, the two deals are worth around £1.2m, to be recognised over several years, but their strategic value outweighs the headline number.

The blood-based biomarker project shows IXICO’s expertise is relevant beyond imaging data, positioning it for a future in diagnostic tools rather than purely trial services.

The extension, meanwhile, underlines its ability to deepen existing client relationships, an important signal for a company seeking consistent, profitable growth.

Cavendish says the wins validate IXICO’s focus on building long-term partnerships and demonstrate traction in new markets.

With a market value of £11m and a target price of 24p, the shares look modestly rated for a business aiming to return to steady revenue growth. For patient investors, the latest contracts hint that the turnaround story is beginning to take shape.

Up 12% earlier in the day, the stock settled back to 12.25p, up 0.45p.

TAMPA, Fla., Oct. 15, 2025 – PRISM MediaWire (Press Release Service – Press Release Distribution) – AtlasClear Holdings, Inc. (NYSE American: ATCH) (“AtlasClear Holdings” or the “Company”) announced today that it has closed its previously announced $20,000,000 financing. The investment was led by Funicular Funds, LP, with significant insider participation from Sixth Borough Capital.

The financing consisted of $10,000,000 in convertible debt with a 5-year term at an 11% coupon and a conversion price of $0.75 per share, as well as $10,000,000 (inclusive of $4,250,000 converted from recent debt financing) invested in the form of units sold at $0.60 per unit. Each unit consists of one share of common stock and one warrant.

After giving effect to the rollover of the recent debt financing, the transaction resulted in gross cash proceeds of $15,750,000, before placement agent fees and other transaction expenses.

“We are pleased to announce the successful closing of this financing, which represents a strong vote of confidence from our existing investors and partners. This capital will enable us to accelerate the execution of our strategy, onboard new correspondents, and expand into additional lines of revenue.”

John Schaible, Executive Chairman of AtlasClear Holdings
Dawson James acted as exclusive Placement Agent for the transaction.

“This transaction provides the Company with the resources to scale our operations, grow our team, and deploy technologies that we believe will create durable competitive advantages.”

Craig Ridenhour, President of AtlasClear Holdings
About AtlasClear Holdings, Inc.

AtlasClear Holdings, Inc. is building a cutting-edge, technology-enabled financial services platform to modernize trading, clearing, settlement, and banking for innovative financial products, with a focus on serving small- and middle-market financial institutions. Through its subsidiary, the Company combines industry expertise with longstanding infrastructure: Wilson-Davis & Co., Inc., a full-service correspondent securities broker-dealer registered with the SEC and FINRA and a member of DTCC and NSCC, which has been serving the investment community since 1968; and through its planned acquisition of Commercial Bancorp of Wyoming, the parent of Farmers State Bank, a Federal Reserve member bank that has provided private and corporate banking services to its community since 1915. Together, these businesses will position AtlasClear to deliver a vertically integrated suite of brokerage, clearing, risk management, regulatory reporting, and commercial banking solutions. The AtlasClear leadership team includes respected industry veterans who have founded and led companies such as ICE Clear, Legent Clearing, COR Clearing, Axos Clearing, NexTrade, StoneX, and Anderen Bank.

Cautionary Statements Regarding Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that reflect AtlasClear Holdings’ current views with respect to, among other things, the future operations and financial performance of AtlasClear Holdings. Forward-looking statements in this communication may be identified by the use of words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “foreseeable,” “future,” “intend,” “may,” “outlook,” “plan,” “potential,” “proposed,” “predict,” “project,” “seek,” “should,” “target,” “trends,” “will,” “would” and similar terms and phrases. Forward-looking statements contained in this communication include, but are not limited to, statements as to (i) the Company’s expectations regarding planned future growth and financial results, (ii) AtlasClear Holdings’ expectations regarding future financings, (iii) AtlasClear Holdings’ expectations as to future operational results, (iv) AtlasClear Holdings’ anticipated growth strategy, including its planned acquisition of Commercial Bancorp of Wyoming and its planned release of a digital asset loan platform, and (v) the financial technology of AtlasClear Holdings.

The forward-looking statements contained in this communication are based on the current expectations of AtlasClear Holdings and its management and are subject to risks and uncertainties. No assurance can be given that future developments affecting AtlasClear Holdings will be those that are anticipated. Actual results may differ materially from current expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond the control of AtlasClear Holdings. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Factors that could cause actual results to differ may emerge from time to time, and it is not possible to predict all of them.

Such factors include, but are not limited to: the Company’s need to raise additional capital; failure of the Company to realize the anticipated benefits of any additional investments of capital, such as achieving profitability, delivering the capital needed for its proposed bank acquisition upon approval, solidifying its capital foundation, reducing potential dilution, and positioning the Company to maximize long-term stockholder value; failure by AtlasClear Holdings to satisfy the closing conditions to any investments of capital, including receipt of stockholder approval; AtlasClear’s inability to successfully integrate, and/or realize the anticipated benefits of, the acquisition of Wilson-Davis and the technology acquired from Pacsquare Technologies LLC (the “Transaction”); failure to recognize the anticipated benefits of the Transaction, which may be affected by, among other things, competition, the ability of AtlasClear Holdings to maintain relationships with customers and suppliers and strategic alliance third parties, and to retain its management and key employees; AtlasClear Holdings’ inability to integrate, and to realize the benefits of, the Transaction and other potential acquisitions; changes in general economic or political conditions; changes in the markets that AtlasClear Holdings targets; slowdowns in securities or digital asset trading or shifting demand for trading, clearing and settling financial products; any change in laws applicable to AtlasClear Holdings or any regulatory or judicial interpretation thereof; factors that may cause a delay in timely filing the transition report described herein; the risk that additional or different information may become known prior to the expected filing of the transition report, and other factors, risks and uncertainties, including those that were included under the heading “Risk Factors” in AtlasClear Holdings’ Annual Report on Form 10-K filed with the Securities and Exchange Commission on September 29 and in its subsequent filings with the SEC. AtlasClear Holdings cautions that the foregoing list of factors is not exhaustive. Any forward-looking statement made in this communication speaks only as of the date hereof. Plans, intentions or expectations disclosed in forward-looking statements may not be achieved and no one should place undue reliance on such forward-looking statements. AtlasClear Holdings does not undertake any obligation to update, revise or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

Contacts

Company Contact 

[email protected]

Investor Relations Contact

Jeff Ramson, CEO

PCG Advisory, Inc.

[email protected]

Source: AtlasClear Holdings, Inc.

Key Takeaways The Technology Services industry has surged 32.9% year to date and ranks in the top 24% of all industries.
AppLovin's Axon 2.0 AI engine has driven explosive ad growth, with ad spend reaching a $10B annual run rate.Skillsoft, Acuity, Byrna, and MediaAlpha all show favorable earnings and revenue trends.
The Zacks-defined Technology Services industry currently ranks within the top 24% of Zacks Ranked Industries. Consequently, we expect it to outperform the market over the next three to six months. Year to date, the industry has rallied 32.9%. 

The technology services industry is mature, with demand for services in good shape. As a result, the industry flourished in the first three quarters of 2025. The momentum is also likely to continue in the fourth quarter.

We recommend five technology services stocks with a favorable Zacks Rank to strengthen your portfolio. These stocks are: AppLovin Corp. (APP - Free Report) , Skillsoft Corp. (SKIL - Free Report) , Acuity Inc. (AYI - Free Report) , Byrna Technologies Inc. (BYRN - Free Report) and MediaAlpha Inc. (MAX - Free Report) . Each of our picks currently carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Technology Services Industry FlourishingThe global shift toward digitization creates opportunities in various markets, including 5G, blockchain and artificial intelligence (AI). Companies are adopting generative AI, machine language (ML), blockchain and data science faster to gain a competitive advantage. 

The business software industry is gaining from robust demand for multi-cloud-enabled software solutions, given the ongoing transition from legacy platforms to modern cloud-based infrastructure. 

Industry players are incorporating AI and ML into their applications for more dynamic and result-oriented outcomes. Elevated demand for enterprise software, which is ramping up productivity and improving the decision-making process, is a key catalyst. 

The chart below shows the price performance of our five picks in the past three months.

Image Source: Zacks Investment Research

AppLovin Corp.Zacks Rank #2 AppLovin is engaged in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. As a leading ad-tech company, APP provides a technology platform that enables developers to market, monetize, analyze and publish their apps. 

AppLovin has solidified its leadership in mobile advertising, powered by its next-gen AI engine, Axon 2.0. Since its debut, Axon 2.0 has radically enhanced APP’s ad performance, helping to quadruple advertising spend on its platform. This explosive growth has led to an estimated $10 billion annual run rate in ad spend from gaming clients, pushing APP into the upper echelon of global ad tech firms by valuation.

Axon 2.0’s importance goes far beyond mere optimization. In a post-Identifier for Advertisers environment that disrupted mobile user acquisition strategies, Axon 2.0 served as a critical catalyst for recovery. 

APP’s AI-enabled Audience+ marketing platform is also increasing its reach into the direct-to-consumer and e-commerce space. Moreover, APP’s MAX publisher base is expanding at a significantly faster rate, underscoring Axon 2.0’s strategic advantage.

AppLovin’s leadership is expanding aggressively, planning a self-serve referral platform launch in October 2025 and aiming for a full global rollout of its Axon advertising platform in 2026. APP targets a 20-30% year-over-year growth rate fueled mainly by its gaming segment and AI-driven ad monetization.

AppLovin has an expected revenue and earnings growth rate of 15.2% and 63.6%, respectively, for the current quarter. The Zacks Consensus Estimate for current-quarter earnings has improved 1.1% over the last seven days. 

Skillsoft Corp.Zacks Rank #1 Skillsoft delivers digital learning, training and talent solutions. SKIL democratizes learning through an intelligent learning experience and a customized, learner-centric approach to skills development with resources for Leadership Development, Business Skills, Technology and Developer, Digital Transformation and Compliance.

Skillsoft has an expected revenue and earnings growth rate of -2% and -53.1%, respectively, for the next quarter (ending January 2026). The Zacks Consensus Estimate for next-quarter earnings has improved more than 100% over the last 30 days.

Acuity Inc.Zacks Rank #1 Acuity manufactures and distributes lighting fixtures and related components that comprise devices such as luminaries, lighting controls, and controllers for various building systems, power supplies, prismatic skylights, and drivers, as well as integrated systems designed to optimize energy efficiency and comfort for various indoor and outdoor applications.

AYI operates through two segments — Acuity Brands Lighting and Lighting Controls (contributing 93% to fiscal 2024 net sales) and Acuity Intelligent Spaces (7.6%). AYI provides lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America as well as Europe and Asia. 

Additionally, AYI has expanded its solutions portfolio, including software and services, that benefit the economy in data analytics, enable the Internet of Things (IoT) and support the advancement of smart buildings, cities, and grids. 

Acuity has an expected revenue and earnings growth rate of 19.5% and 12.3%, respectively, for the current quarter (ending November 2025). The Zacks Consensus Estimate for current-quarter earnings has remained the same over the last 30 days. 

Byrna Technologies Inc.Zacks Rank#1 Byrna Technologies is non-lethal technology company. BYRN engages in the development and manufacture of innovative non-lethal equipment and munitions. BYRN’s products include handheld personal security devices and shoulder-fired launchers designed for use by consumers and professional security customers without the need for a background check or firearms license.

Byrna Technologies has an expected revenue and earnings growth rate of 21.3% and -23.5%, respectively, for the current quarter (ending November 2025). The Zacks Consensus Estimate for current-quarter earnings has remained the same over the last 30 days. 

MediaAlpha Inc.Zacks Rank #2 MediaAlpha provides a real-time programmatic technology platform specializing in vertical search and metasearch. MAX has an expected revenue and earnings growth rate of -8.1% and more than 100%, respectively, for the current quarter. The Zacks Consensus Estimate for current-quarter earnings has remained the same over the last 30 days. 

The company narrowed its guidance for the second time this year.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The cryptocurrency market opens on Wednesday, Oct. 15, under the shadow of both whale wallets and regulators. A LuBian-linked address has moved 9,757 BTC worth $1.1 billion after three years of complete silence, just as the U.S. government seeks forfeiture of 127,271 BTC worth $14 billion connected to the 2020 LuBian theft. 

Ripple is putting up $200,000 for white hats to attack its new lending protocol, while Coinbase has announced a direct bet on India’s growing crypto economy via CoinDCX.

Bitcoin battles $112,000 as $1.1 billion LuBian wallet sparks fresh fearsThe LuBian-linked wallet shift hit the market at the worst possible time – it is still bleeding from last Friday's $19 billion liquidation cascade. The address is linked to the LuBian exchange hack, which was one of the biggest crypto heists ever. 

HOT Stories

Years ago, almost 127,000 BTC – that is $14.4 billion at today's prices – was stolen, and the U.S. government has just announced plans to confiscate the stash. The next day, 9,757 BTC worth $1.1 billion moved after three years of nothing. 

Source: Arkham That timing is no coincidence. It seems that either insiders are trying to stop the seizure, or the stolen coins are being moved around to see how much surveillance the system can handle. 

Bitcoin is currently trading at $112,703, after swinging between $113,239 and $112,540 today. There is a lot of activity in the $111,800-$112,000 range. Every test of $114,000 has been rejected instantly, showing that sellers still have the short-term upper hand. Drop below $111,000, and it is on to $109,500. Bulls cannot breathe easy until $114,500 is flipped or $116,000 is closed out.

With $124 million of new BTC longs in the last 24 hours, traders know another wave of whale transfers could break the floor below $110,000.

Ripple to give away $200,000 on XRPL "Attackathon"Ripple has lined up a live-fire test for the XRP Ledger's upcoming lending protocol, putting $200,000 on the table in a joint "attackathon" with security firm Immunefi. The program runs from Oct. 27 to Nov. 29, with the full bounty unlocked if a single critical flaw shows up. 

If the system holds up, the participants will split a fallback pool of $30,000.

This is one of the most ambitious updates to XRPL, as it is a fixed-term, uncollateralized loan that is settled directly on the chain, skipping the usual wrapping and smart contract layers. Instead, credit checks are kept off-chain, while repayment and liquidation logic is kept on the ledger. 

XRP,  in the meantime, attempts a recovery near $2.50 after sliding 12% this week, with $2.30 as the support level and $2.90 as the ceiling going into ETF decision week.

XRP/USD by TradingViewThe attackathon kicks off with two weeks of training for researchers, then moves on to trying to break vault solvency, liquidation triggers and admin functions. 

Coinbase wants Indian crypto market with CoinDCX investmentCoinbase entered the Indian market with a new investment in CoinDCX, the country's top crypto exchange. The major U.S. exchange decision to move into Asia and the Middle East signals a bigger focus on these regions, where more than 100 million people already use cryptocurrency.

There are 100M+ crypto owners in India and the Middle East. And that’s growing, fast.

We're excited to expand our presence in these regions through a new investment into India's leading exchange, @CoinDCX. pic.twitter.com/4anCrwiK5o

— Coinbase 🛡️ (@coinbase) October 15, 2025 For CoinDCX, the deal gives them U.S. branding power and direct access to Coinbase's liquidity pools, which will boost their position after years of building retail scale and navigating India's shifting regulatory map.

On the equity side, COIN stock finished Tuesday at $341, which was a bit lower than the early-month highs of around $390. The price is a bit fragile right now, and it is holding at $350. There is a chance it could drop to $325 if it breaks that level. Bulls need to bounce back quickly into the $360-$370 range to keep the chart balanced.

Evening outlookHeading into the evening, the cryptocurrency market remains fragile as liquidation data and tariff headlines set the stage for another volatile week.

Ethereum: Holding $4,166, but weak under $4,200. Needs to reclaim $4,280-$4,300 to confirm upside with support at $3,900.Solana: Trading $206, base forming at $200-$201. Resistance at $210-$215, risk back to $185 if BTC weakens.Bitcoin: Watch $111,800-$112,000 as key floor; $114,500 intraday and $116,000 daily close as upside gates.Macro risk: U.S.-China tariffs remain a wildcard, while CPI data later this week is the dominant risk trigger.

12 minutes ago

XRP’s macro outlook remained bullish, with analysts confident that a bullish breakout was possible if key support levels are reclaimed.

151

Key takeaways:

XRP price must flip the 200-day SMA and the $2.70-$2.80 resistance into support for a rally above $3.00.

Analysts see a 57% chance of an upward breakout to $9.5-$27, with a 43% chance of a drop to $0.50.

XRP (XRP) has tumbled more than 31% since peaking near $3.66 in July, including a 12.5% drop in the past seven days that dragged it toward $2.50.

XRP/USD daily price chart. Source: TradingViewCan XRP hold $2.50 as support and continue rallying afterward?

XRP must flip the 200-day SMA into supportXRP must flip the $2.70-$2.80 resistance zone into a new support zone to target higher highs above $3.00. 

However, the XRP/USD pair must first close above the 200-day simple moving average (SMA) at $2.58 on the daily chart.

Reclaiming this trendline has previously been preceded by significant recoveries in XRP price, as seen in July (see the chart below).

Above that, the next level to watch would be the $2.86-$2.96 range, where the 50-day and 200-day SMA currently sit.

XRP/USD daily chart. Source: Cointelegraph/TradingViewAs Cointelegraph reported, the bulls must drive the price above the 20-day exponential moving average (EMA) at $2.72 to signal a comeback.

XRP has a 57% chance of an upward breakoutXRP charts suggest that a rebound from current levels is possible, provided XRP/USD does not fall under $2.50, according to technical analyst Egrag Crypto. 

He shared a chart showing that the XRP price was trading within a “descending broadening wedge which has a 57% chance of breaking to the upside.”

If this happens, the altcoin could rally toward the measured target of the prevailing chart pattern at $9.50.

Egrag Crypto added:

“I believe we’re heading toward a minimum of $9, with an average target of $20 and a high-end target of $27 this cycle.”XRP/USD weekly chart. Source: Egrag CryptoThe broadening wedge also has a 43% chance of a breakdown that can go as low as $0.50, providing a good level to “buy back,” the analyst added.

Elliott wave analyst XForceGlobal also said that XRP is “still bullish on the macro.”

The chartist views the current price range as the “confirmation stage,” before XRP enters its final bullish push into wave 3 of the cycle. 

“From a timing perspective, it’s looking great.”XRP/USD daily chart. Source: XForceGlobalSeveral other technical indicators on higher time frames, including the oversold weekly Stochastic RSI, suggest a potential bullish reversal in XRP price. 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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flash news

Ripple Rumors Ignite: Alleged American Express Deal Fuels XRP Optimism

American Express (Amex) is reportedly exploring a collaboration with Ripple, according to crypto researcher SMQKE. The alleged partnership, first highlighted today on social media, suggests

CryptoCurrency News

Crypto Market Rattle: Bitcoin Support Crumbles, Flows Turn Against ETFs

TL;DR Bitcoin dropped to around $111,500 as recent U.S.-China trade tensions and ETF outflows fueled market uncertainty. Key short-term support at $112,500 is being tested

BNB Chain and Binance launched initiatives to shore up confidence, including a $45 million airdrop and a $400 million "Together Initiative". Oct 15, 2025, 10:45 a.m.

BNB traded at $1,200 on Wednesday, down 0.5% after sliding from a new all-time high that came after a market-wide liquidation event erased roughly $500 billion from the crypto market.

The token, which is the native token of the BNB Chain and can be used to pay of trading fees on Binance, rebounded from lows near $1,145 to highs around $1,237, suggesting buyers remain active despite ongoing macroeconomic uncertainty.

STORY CONTINUES BELOW

BNB Chain sought to shore up confidence through a $45 million airdrop initiative with PancakeSwap and Trust Wallet, rewarding active community members to encourage trading activity. Binance itself announced a $400 million “Together Initiative,” which it pointed to as an initiative to rebuild user confidence.

Binance’s stablecoin reserves, meanwhile, climbed to $44.6 billion, up more than $3 billion since the month started, indicating that investors are keeping funds on hand rather than leaving the market altogether.

At the same time, China Merchants Bank International (CMBI) tokenized its USD money market fund on the BNB Chain, issuing two tokens, CMBMINT and CMBIMINT, for accredited investors via DigiFT and OnChain.

BNB’s corporate accumulation has also been ongoing. Earlier, Hong Kong-listed investment bank China Renaissance was reported to plan a $600 million raise for a publicly traded crypto treasury focused solely on BNB.

Technical Analysis OverviewBNB’s recent trading shows a solid floor forming between $1,190 and $1,195, where buyers consistently entered during pullbacks. This area has acted as dependable support, absorbing selling pressure and preventing deeper losses, according to CoinDesk Research's technical analysis data model.

On the upside, resistance has developed around $1,215 to $1,220, which has halted multiple breakout attempts but not reversed the broader recovery trend.

Trading volume during the rebound more than doubled its 24-hour average, confirming that demand returned quickly after the liquidation episode.

Volume has since thinned near the upper range. This kind of consolidation often precedes continuation, hinting that BNB could attempt another push higher if overall sentiment remains steady.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

More For You

Crypto Trading Volumes Fall 17.5% in September Despite Record Open Interest

Oct 10, 2025

Combined spot and derivatives volumes fell 17.5% in September, continuing a four-year seasonal trend

What to know:

Trading activity falls 17.5% in September slowdown: Combined spot and derivatives volumes dropped to $8.12 trillion, marking the first decline after three months of growth. September has now seen reduced trading volume for the fourth consecutive year.Open interest reaches record high despite derivatives market share decline: Total open interest surged 3.2% to $204 billion and peaked at an all-time high of $230 billion during the month.Altcoins on CME outperform as Bitcoin and Ether futures decline: While CME's total derivatives volume stayed flat at $287 billion (-0.08%), SOL futures jumped 57.1% to $13.5 billion and XRP futures rose 7.19% to $7.84 billion. BTC and ETH futures fell 4.05% and 17.9% respectively.View Full Report

More For You

Gold Isn’t Overpriced on Purchasing-Power Test, BlackRock’s Evy Hambro Says

26 minutes ago

Hambro told Bloomberg TV gold “could go a lot higher” as long-term price decks lag spot; miners’ margins are among the strongest he has seen.

What to know:

Hambro said purchasing-power checks show gold has gained against low-value goods but lagged big-ticket items and prime real estate, so valuation depends on the basket used.He said momentum can amplify swings and the “trend is your friend,” adding gold “could go a lot higher” if investors keep repricing paper currency against real assets.He noted miners’ margins are unusually strong and many equity models still use long-term gold price decks below spot and the forward curve.Read full story

We need more transparency. Not just money. pic.twitter.com/V97MbBOy9U

— Duo Nine ⚡ YCC (@DU09BTC) October 14, 2025

Yet the move, while sizable, drew further scrutiny. Regulators and traders noted that the exchange explicitly avoided acknowledging liability, describing the payouts as “voluntary relief” rather than restitution.

Critics argue that this framing underscores deeper structural weaknesses within Binance’s margin system, namely, its dependence on internally priced assets, high leverage exposure, and thin liquidity during stress events.

The crypto market crash on October 11 is suspected to be a targeted attack that exploited a flaw in Binance’s Unified Account margin system.

The issue stemmed from using assets like USDE, wBETH, and BnSOL as collateral, whose liquidation prices were based on Binance’s own…

— Dr Martin Hiesboeck (@MHiesboeck) October 12, 2025

Some analysts even suggested that the crash may have been exacerbated or exploited by traders aware of these vulnerabilities.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

In the last 24 hours, the Shiba Inu burn rate has surged by a massive 27,014.16%, with a significant increase in the tokens burned in that time frame.

In the last 24 hours, 43,486,236 SHIB were burned, which is the largest so far in recent days. On Oct. 14, only 160,382 SHIB were burned, while on Oct. 13, over a million — 1,332,329 SHIB — were burned.

HOURLY SHIB UPDATE$SHIB Price: $0.00001072 (1hr -0.05% ▼ | 24hr 2.81% ▲ )
Market Cap: $6,323,035,682 (0.83% ▲)
Total Supply: 589,247,488,315,292

TOKENS BURNT
Past 24Hrs: 43,486,236 (27014.16% ▲)
Past 7 Days: 59,449,906 (27.78% ▲)

— Shibburn (@shibburn) October 15, 2025 The surge in the daily burn rate coincides with a recovery in the SHIB price following yesterday's drop to a low of $0.0000102 before slightly rebounding.

At press time, SHIB was up 1.86% in the last 24 hours to $0.00001073 but down 11.62% in the last seven days.

HOT Stories

Also in the last seven days, 59,449,906 SHIB tokens were burned, resulting in a mild 27.78% increase in weekly burn rate.

Shibarium Plasma bridge reactivatedThe Shiba Inu team has announced that Plasma Bridge is back online for users to utilize for BONE, following a comprehensive review and a series of security enhancements. This implies that users can once again bridge BONE between Ethereum and Shibarium following the exploit incident that occurred last month.

New safeguards have been put in place, which allow blacklisting to block malicious addresses and a seven‑day withdrawal delay for finalizations.

The Shiba Inu team added that it was working to reenable bridging for additional tokens in staged rollouts, applying the same testing and review standards.

The team is also finalizing, in parallel, a fair and transparent repayment framework for affected users, with details to be shared through official channels once it is safe to do so.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin (BTC) treasury firm Metaplanet is now valued less than the total amount of BTC it holds on its balance sheet. Metaplanet’s analytics dashboard shows that the firm’s market-to-Bitcoin Net Asset Value (mNAV) ratio recently tumbled below 1.

Metaplanet’s Valuation Tumbles Below Its Bitcoin Holdings
According to data from Metaplanet’s analytics dashboard, the Japanese investment firm’s mNAV recently fell below 1, before recovering to 1.01 at the time of writing. The brief period below 1 meant the company’s valuation was below the value of BTC it holds.

For the uninitiated, Metaplanet’s mNAV differs from the traditional NAV in that it measures the value of the enterprise in relation to the value of the BTC it holds on its balance sheet. The ratio fell to 0.99 for the first time in the company’s history on October 13.

It is worth highlighting that Metaplanet’s mNAV has shed seven points since mid-June. Since then, Metaplanet’s stock has also lost close to 75% of its value, crashing from around $13 per share to close to $3.13 at the time of writing.

Source: Yahoo! Finance
Notably, Metaplanet recently announced that it was temporarily halting stock warrants for 20 days. The company has suspended its Moving Strike Warrants from October 20th through November 17th.

For the uninitiated, Moving Strike Warrants are a type of investment where the strike price changes as the price of the underlying asset moves. This means the warrant keeps giving similar exposure to the asset’s price changes, instead of becoming outdated like a regular fixed-strike warrant.

Metaplanet’s latest BTC acquisition happened on September 30th, when the firm added 5,268 coins to its reserves. Currently, the firm holds a total of 30,823 BTC, according to data from Coingecko.

Source: Coingecko
Metaplanet is the only non-US-based company among the top 10 largest publicly-listed firms that hold BTC on their balance sheets. The list is led by Michael Saylor’s Strategy, which holds over 640,000 BTC, representing slightly more than 3% of BTC’s total supply.

Corporate Adoption Of BTC Is Not Slowing
Although Metaplanet has temporarily halted issuance of new shares, it has clarified that it remains fully committed to continuing to purchase BTC, in accordance with its determined goals.

Other companies also remain steadfast in accumulating BTC. For instance, leading stablecoin issuer Tether recently made a fresh purchase of 8,888 BTC, worth more than $1 billion at prevailing prices.

Similarly, MARA Holdings increased its total BTC reserves by 373 in September, helping it cement its second position in the list of publicly traded firms in terms of BTC held. At press time, BTC trades at $112,919, down 2.1% in the past 24 hours.

Bitcoin trades at $112,919 on the daily chart | Source: BTCUSDT on TradingView.com
Featured image from Unsplash.com, charts from Yahoo! Finance, Coingecko, and TradingView.com

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TL;DR

XRP ETF Structure: CoinShares filed an amended S-1 revealing ticker XRPL, with BitGo as custodian and Valkyrie Funds LLC providing seed capital.
Regulatory Timeline: SEC decisions on multiple XRP ETF applications, including CoinShares, are expected between October 18 and 25.
Market Demand: XRP funds saw $61.6 million in inflows last week despite a major crypto market correction, underscoring institutional interest.

CoinShares has taken a significant step toward launching the first U.S. spot XRP ETF, filing an amended S-1 with the Securities and Exchange Commission on October 14. The document outlines the proposed ticker, key partners, and operational structure, signaling readiness for a potential Nasdaq debut as the SEC weighs multiple XRP ETF applications.

XRPL Ticker and Custodian Partnership
The filing confirms that the XRP ETF will trade under the ticker XRPL. BitGo has been appointed as the crypto custodian, while Valkyrie Funds LLC will provide seed capital. Although the management fee remains undisclosed, the amendment suggests it could eventually be payable in XRP, a detail that underscores the fund’s alignment with the underlying asset.

Operational Structure and Service Providers
CoinShares clarified that the trust will not engage in staking programs, meaning investors should not expect staking rewards or additional yield. The filing also identifies CSC Delaware Trust Company as trustee, U.S. Bancorp Fund Services as transfer agent and administrator, Paralel Distributors as marketing agent, and U.S. Bank NA as cash custodian. This broad network of partners reflects a traditional financial framework applied to a digital asset product.

SEC Deadlines and Competitive Landscape
The XRP ETF race is intensifying as the SEC’s final deadline for Grayscale’s application arrives this week. Decisions on proposals from 21Shares, Bitwise, WisdomTree, CoinShares, and Canary Capital are anticipated between October 18 and 25. Analysts suggest the regulator could approve several ETFs simultaneously, particularly if the government shutdown concludes, creating a pivotal moment for XRP’s institutional trajectory.

Market Momentum and Institutional Demand
Despite the broader crypto market experiencing its steepest correction of the year, XRP funds attracted $61.6 million in inflows last week. This resilience highlights strong institutional demand and positions CoinShares’ XRP ETF as a potential beneficiary of shifting capital flows. If approved, the product would extend the momentum of Bitcoin and Ethereum ETFs into the altcoin sector, marking another milestone in digital asset adoption.

Mark Yusko, the Founder, CEO, and CIO of Morgan Creek Capital Management, has expressed strong support for the proposed U.S. Bitcoin Reserve Bill, but with a dose of realism about its current shortcomings. 

In a recent interview with Thinking Crypto, Yusko explained that the United States doesn’t actually have a strategic Bitcoin reserve; what it has is a digital asset stockpile built largely from Bitcoin seized through criminal and civil asset forfeitures.

He said, “We actually don’t have the strategic Bitcoin reserve, which would be awesome if we did. What we have is the digital asset stockpile.”

Push for a Strategic Bitcoin ReserveSenator Cynthia Lummis and other lawmakers have been pushing for legislation that would allow the U.S. government to buy Bitcoin regularly over a five-year period, treating it like gold, as a part of the nation’s financial reserves.

The proposal, however, has hit political roadblocks. Tensions in Washington and allegations of insider benefits have slowed progress. Yusko also said that some officials are worried about how a large Bitcoin reserve might be managed or protected, citing risks like hacking or misuse.

Why Bitcoin Beats Gold and FiatYusko didn’t hold back on his criticism of fiat currencies, calling them easily manipulated and a tool for wealth erosion through inflation. He sees Bitcoin as a superior form of money, one that operates independently of governments and provides protection against monetary debasement.

“Gold replaced silver, silver replaced bronze and Bitcoin is now replacing gold. It’s not that gold is bad; Bitcoin is just better,” he added.

Governments Will Resist — But Not ForeverYusko was candid about why governments resist Bitcoin adoption. According to him, fiat systems give those in power the ability to print, spend, and benefit in ways that ordinary citizens cannot. “It won’t happen overnight, but all nation-states will migrate to Bitcoin eventually. It’s the natural evolution of money,” he said.

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Key NotesRipple's 2025 Africa strategy includes payments via Chipper Cash, its RLUSD stablecoin with VALR, and now custody with Absa Bank.The new partnership will provide institutional-grade custody for tokenized assets to Absa Bank's customers in South Africa.These strategic developments occur as XRP faces significant order book resistance at $2.60, with major support indicated at $2.40.
Ripple

XRP
$2.50

24h volatility:
1.9%

Market cap:
$149.91 B

Vol. 24h:
$5.86 B

, a provider of digital asset infrastructure, announced on Oct. 15 its partnership with Absa Bank to provide digital asset custody services in South Africa.

The move is the latest in a series of strategic initiatives by the company to expand its presence across the African continent in 2025.

Today, we’re excited to announce that @AbsaSouthAfrica, one of Africa’s leading financial institutions, is now @Ripple’s first major custody partner in Africa: https://t.co/9FQ5GTxMnK

We’re bringing institutional digital asset custody to South Africa, providing the secure and…

— Ripple (@Ripple) October 15, 2025

The collaboration with Absa Bank, one of Africa’s largest financial institutions, will focus on delivering institutional-grade storage for tokenized assets and cryptocurrencies.

According to the official announcement, the goal is to build a secure foundation for the growing digital asset market in the region. “Our goal is to unlock the potential of digital assets on the continent,” said Reece Merrick, Ripple’s Managing Director for the region.

Ripple’s Broader 2025 Africa Push
The Absa Bank partnership follows two other significant moves by Ripple in Africa this year. In March, the company partnered with African payments provider Chipper Cash to improve cross-border remittances.

This was followed in September by the launch of its RLUSD stablecoin on the continent through partners including VALR, Africa’s largest crypto exchange, and payments company Yellow Card.

These partnerships coincide with positive regulatory developments in the region. For instance, Kenya’s new digital assets bill seeks to establish a clear legal framework for virtual asset service providers, which could foster broader adoption.

XRP/USDT 1D chart. | Source: TradingView, Binance Futures

The news of Ripple’s systematic expansion comes as its associated asset, XRP navigates a tense market structure.

The asset shows a bearish bias on lower timeframes, with key support identified between $2.4516 and $2.4491. This support area is reinforced by order book data from the Binance Futures Exchange showing a significant buy wall of over $36 million at the $2.40 price level.

Conversely, the asset faces major resistance from a sell wall of over $34 million positioned at $2.60.

The fundamental developments in Africa provide a contrast to the asset’s recent price action, while other market signals like the CBOE’s confirmation of an XRP ETF also point to growing institutional interest.

Community reaction on the social media platform X was mixed. While many users praised the partnership as a bullish step for adoption in Africa, others expressed skepticism about its immediate impact on the XRP asset itself, highlighting a common point of debate among observers.

The announcement did not specify a launch timeline for Absa’s custody service or which digital assets would be supported initially.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News

As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.

Zoran Spirkovski on X

Your day-ahead look for Oct. 15, 2025 Oct 15, 2025, 11:15 a.m.

By Omkar Godbole (All times ET unless indicated otherwise)

Bitcoin’s BTC$112,080.48 bounce from late Tuesday lows near $110,000 has stalled just above $113,000 as the lack of fresh U.S. economic data leaves both crypto and forex traders in limbo. The CoinDesk 20 (CD20) Index steadied above 3,800 points, representing a 4% gain on a 24-hour basis.

STORY CONTINUES BELOW

The ongoing government shutdown has deprived investors of key macroeconomic indicators, prompting a reprieve for the U.S. dollar.

Analysts at ING noted that "[USD] bears have become discouraged by the lack of soft jobs evidence, and many have thrown in the towel," suggesting dollar positioning looks more balanced now.

It means that the greenback could hold on to its recent gains, making it harder for bitcoin and other dollar-denominated altcoins to post strong advances.

Meanwhile, gold remains bid, with major institutions like Bank of America and J.P. Morgan expecting further upside for the precious metal, projecting prices between $4,500 and $5,000 an ounce by 2026.

This bullish outlook has benefited gold-backed tokens as well; according to TokenTerminal, the supply of tokenized gold on Ethereum has more than doubled this year, nearing $2.7 billion.

QCP Capital expressed hope that bitcoin could soon resume its bull run, catching up with gold. "With institutional treasuries accumulating positions and ETF inflows remaining robust ($102.7 million into BTC ETFs and $236.2 million into ETH ETFs yesterday), the setup for a renewed rally may already be forming," the firm's market insights team said.

They added that it remains to be seen if BTC can maintain its “digital gold” status in the next phase of the macro cycle as tariffs risk resurface and liquidity dynamics shift.

Liquidity dynamics have also come into focus following a recent report from Finery Markets, which showed that over-the-counter (OTC) desks acted as key shock absorbers during the latest market crash, providing greater liquidity compared to centralized exchanges. This reportedly helped cushion the blow in turbulent times.

In other developments, Taiwanese stablecoin payment company OwlTing has received approval for its direct listing on the Nasdaq, with trading set to commence this Thursday. This milestone reflects growing institutional acceptance and maturation within the crypto payments ecosystem.

Data tracking website Coinglass noted a concerning trend pertaining to centralized exchanges. These avenues, led by Binance, have witnessed massive outflows in the past seven days. If the liquidity dries and bid-ask spreads widen, there could be more volatility on the horizon.

Overall, as markets await clearer macroeconomic signals, bitcoin and crypto investors remain cautiously optimistic but aware of ongoing challenges from dollar strength and liquidity trends.

Stay alert!

What to WatchFor a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

CryptoOct. 15: BNB Chain Wallet browser extension to be discontinued; users advised to back up keys and migrate wallets.MacroOct. 15, 8 a.m.: Brazil Aug. Retail Sales YoY (Prev. 1%), MoM Est. 0.2%.Oct. 15, 9:30: Federal Reserve Governor Stephen I. Miran speaks at the CNBC Invest in America Forum (virtual).Oct. 15, 11 a.m.: Colombia Aug. Retail Sales YoY Est. 14%.Earnings (Estimates based on FactSet data)Nothing scheduled.Token EventsFor a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Governance votes & callsThe Sandbox DAO is voting to enable estate sales by letting LAND owners bundle and sell multiple parcels via the GBM x Sandbox marketplace. Voting ends Oct. 15.UnlocksOct. 15: STRK$0.1281 to unlock 5.64% of its circulating supply worth $21.44 million.Token LaunchesOct. 15: ZBCN$0.004693 to be listed on Kraken.Oct. 15: Recall (RECALL) to be listed on Binance, KuCoin, MEXC, BitMart, and others.ConferencesFor a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Day 3 of 3: Digital Asset Summit 2025 (London)Day 2 of 4: DC Fintech Week 2025 (Washington)Oct. 15: Bitcoin 2140 Forum (Dubai, United Arab Emirates)Oct. 15: Coinbase's Crypto Forum (London)Oct. 15: FinTech & Banking Unconference Mexico 2025 (Mexico City)Day 1 of 2: The Aptos Experience (New York)Token TalkBy Oliver Knight

FET$0.3144, formerly fetch.ai, has suffered a grueling week; losing 43% of its value during a sell-off spurred by Ocean Protocol's decision to leave the Alliance."As many of you have seen, Ocean Protocol has chosen to step away from the ASI Alliance," the company wrote on X. "In parallel, there’s been noticeable market activity involving large transfers of FET tokens from wallets associated with Ocean Protocol to Binance."The token suffered a flash crash on Oct. 10 along with the wider crypto market, but since then the price action has been exhibiting behavior of persistent selling, with little to no respite for buyers.FET is now trading at $0.31, its lowest point in two years having eroded all of the bullish gains over the recent bull market.At one point in 2024 it had topped $3.11 amid a wave of AI-related bullish sentiment, but it has lacked a spark ever since.The move is reflective of the bubbling nature of AI, with the IMF warning on Wednesday that if the AI bubble burst it could rival the infamous dotcom crash.Derivatives PositioningXPL, ASTER, SUI, and LINK have experienced a notable rise in futures open interest, while the top 10 tokens present a mixed performance overall.A whale address, labeled 0xc2a3, opened a 5x short in BTC worth $140 million on Hyperliquid. BTC futures open interest on Binance jumped by $510 million during the Asian hours as a trader moved $89 million in USDC to the exchange, possibly to short futures. Perpetual funding rates for majors, including bitcoin and ether, held flat-to-negative, implying a cautious sentiment. BTC futures activity on the CME remains subdued while open interest in options zoomed to a record high of 61.44K BTC. Positioning in ether futures and options remained elevated near lifetime peaks. On Deribit, put skew in short- and near-dated BTC options increased slightly during the overnight trade. Flows over OTC desk Paradigm featured a long position in the Oct 18 expiry $108K BTC put. Market MovementsBTC is down 0.13% from 4 p.m. ET Wednesday at $112,554.13 (24hrs: 1.98%)ETH is up 0.74% at $4,154.14 (24hrs: 5.18%)CoinDesk 20 is up 0.68% at 3,808.91 (24hrs: +3.68%)Ether CESR Composite Staking Rate is up 2 bps at 2.98%BTC funding rate is at 0.0028% (3.0682% annualized) on BinanceDXY is down 0.18% at 98.86Gold futures are up 1.39% at $4,221.40Silver futures are up 1.89% at $51.58Nikkei 225 closed up 1.76% at 47,672.67Hang Seng closed up 1.84% at 25,910.60FTSE is down 0.51% at 9,404.25Euro Stoxx 50 is up 1.50% at 5,635.34DJIA closed on Tueday up 0.44% at 46,270.46S&P 500 closed down 0.16% at 6,644.31Nasdaq Composite closed down 0.76% at 22,521.70S&P/TSX Composite closed up 1.68% at 30,353.61S&P 40 Latin America closed down 0.26% at 2826.5U.S. 10-Year Treasury rate is down 0.9 bps at 4.013%E-mini S&P 500 futures are up 0.59% at 6,726.25E-mini Nasdaq-100 futures are up 0.80% at 24,961.50E-mini Dow Jones Industrial Average Index are up 0.41% at 46,689.00Bitcoin StatsBTC Dominance: 59.13% (-0.27%)Ether to bitcoin ratio: 0.03689 (1.1%)Hashrate (seven-day moving average): 1,085 EH/sHashprice (spot): $47.37Total Fees: 2.72 BTC / $306,963CME Futures Open Interest: 142,515 BTCBTC priced in gold: 27 ozBTC vs gold market cap: 7.63%Technical Analysis

BTC's weekly chart. (TradingView)

BTC continues to trade well above its 50-week simple moving average (SMA), which has consistently offered strong support since 2023, marking end of price corrections. The broader outlook, therefore, remains constructive while prices hold above the key average. Crypto EquitiesCoinbase Global (COIN): closed on Tuesday at $341.55 (-4.33%)Circle Internet (CRCL): closed at $134.46 (-2.19%)Galaxy Digital (GLXY): closed at $41.14 (-0.22%)Bullish (BLSH): closed at $59.31 (-0.4%)MARA Holdings (MARA): closed at $22.24 (+9.88%)Riot Platforms (RIOT): closed at $22.19 (+2.26%)Core Scientific (CORZ): closed at $18.94 (-1.41%)CleanSpark (CLSK): closed at $21.98 (+9.68%)CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $63.79 (+4.81%)Exodus Movement (EXOD): closed at $27.79 (-2.97%)Crypto Treasury Companies

Strategy (MSTR): closed at $300.67 (-4.69%), +1.+44% at $305Semler Scientific (SMLR): closed at $25.68 (-2.47%), 0.23% at $25.74SharpLink Gaming (SBET): closed at $15.64 (-3-04%), +1.28% at $15.84Upexi (UPXI): closed at $6.25 (-3.55%), +0.32% at $6.27Lite Strategy (LITS): closed at $2.19 (+1.86%), +0.91% at $2.21ETF FlowsSpot BTC ETFs

Daily net flow: $102.7 millionCumulative net flows: $62.50 billionTotal BTC holdings ~ 1.35 millionSpot ETH ETFs

Daily net flow: $236.2 millionCumulative net flows: $14.73 billionTotal ETH holdings ~ 6.75 millionSource: Farside Investors

While You Were SleepingCoinbase to Increase Investment in One of India’s Largest Crypto Exchanges (CoinDesk): The planned deal sets a $2.45 billion post-money valuation and follows CoinDCX’s April 2022 raise of $135 million at a $2.15 billion valuation.Analysis: DATs Keep Buying Bitcoin, Outperforming ETFs Is the Hard Part (CoinDesk): Most digital asset treasuries have failed to deliver on their promises. Their models are fragile when their outperformance against spot cryptocurrencies or spot ETFs depends heavily on premiums, convertible instruments and cheap debt.The Crypto Liquidation Crisis Highlighted OTC Desks as Crucial Shock Absorbers, Finery Markets Says (CoinDesk): The firm says OTC trading venues helped prevent panic from spreading during bitcoin’s sharp selloff by containing liquidity shocks in private markets, where volumes more than doubled and spreads tightened.Bearish BTC Sentiment Persists Despite Powell’s Signal That QT May Be Nearing End (CoinDesk): Deribit-listed options tied to BTC showed one-week puts, continuing to trade at a premium to calls or bullish bets. Options out to the March 2026 expiry showed a similar bearish pricing.More For You

Was $500B Value destruction Just a blip?: Crypto Daybook Americas

Oct 14, 2025

Your day-ahead look for Oct. 14, 2025

What to know:

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Read full story

Key NotesOver 40% of all Ether is now out of circulation amid record institutional demand.Supply locked in staking, ETFs, and treasuries has created a major supply vacuum.Ether exchange reserves continue to fall, with analysts eyeing a bullish trajectory.
The price of Ethereum

ETH
$4 124

24h volatility:
3.8%

Market cap:
$497.04 B

Vol. 24h:
$55.45 B

may be getting ready for a major breakout as available supply drops sharply amid a surge in institutional accumulation.

According to analyst “Crypto Gucci,” Ethereum has never experienced a market cycle with so many simultaneous “supply vacuums.”

ETH’s supply is disappearing faster than ever 🔥

Over 40% of all $ETH is currently locked out of circulation and is continues to climb rapidly

Ethereum has never experienced a market cycle with all three supply vacuums active at once:
– DATs didn’t exist last cycle
– Spot ETFs… https://t.co/Y4FtW7Rmzg

— Crypto-Gucci.eth ᵍᵐ🦇🔊 (@CryptoGucci) October 14, 2025

Digital asset treasuries (DATs), like Bitmine and Bit Digital, have accumulated nearly 5.9 million ETH, worth around $24 billion. This represents 4.9% of total ETH token supply.

At the same time, U.S. spot Ether ETFs have absorbed $28 billion in ETH since their launch in July last year. This massive inflow could grow even further once staking receives regulatory approval, according to experts.

Ether staking activity has also reached record levels. Currently, 35.7 million ETH, almost 30% of the total supply, is locked in staking contracts, with much of it illiquid due to the 40-day withdrawal queue.

“When demand meets a shrinking supply like this, price doesn’t just go up, it goes nuclear,” the analyst writes.

Ether Exchange Balance Drops to Multi-Month Low
Meanwhile, data from CryptoQuant shows the Ethereum supply ratio on Binance has fallen sharply to 0.33, the lowest level since May last year.

This decline suggests investors are moving their ETH into self-custody wallets, a sign of long-term confidence and reduced selling pressure.

At the time of writing, Ether trades near $4,150, recovering from a recent dip to $3,900. The crypto’s 24-hour trading volume has jumped 13%, reaching $63 billion.

Analyst Crypto Ceaser noted that ETH is currently around a strong support zone around $4,000, a good buying opportunity for traders looking for the next crypto to explode.

He added that the “real fun will start” after the second largest cryptocurrency breaks the weekly resistance level of $4,874 with full conviction.

$ETH – #Ethereum: The real fun will start once we are breaking the red zone with full conviction. pic.twitter.com/CTA12FQ5p3

— Crypto Caesar (@CryptoCaesarTA) October 15, 2025

BitMine chair Tom Lee recently reaffirmed his year-end target of $10,000 for ETH. Historical data from CoinGlass also supports this optimism as the fourth quarter has delivered average returns of 21.36% for Ether since 2016.

A similar gain could push ETH close to $5,000 by the end of this year.

Maxi Doge Presale Explodes Past $3.6M
With ETH aiming for major gains and analysts monitoring the meme coin market, Maxi Doge (MAXI) is gaining serious attention. Inspired by gym culture and the fast-paced world of crypto trading, the token has already raised over $3.6 million in its ongoing presale.

At the heart of Maxi Doge’s growth is the Maxi Fund, a reserve designed to boost liquidity and secure strategic partnerships that can drive long-term expansion.

The Maxi Doge community fuels its growing buzz, with holders joining trading talks, weekly contests, and fitness-themed challenges. MAXI blends lifestyle and crypto while rewarding early investors with an 84% annual staking return, giving everyone a reason to hold on.

Presale Overview of Maxi Doge

Ticker: MAXI
Current Price: $0.000263
Funds Raised: $3.6 million

If you’re looking to invest, we recommend checking out our guide on how to buy Maxi Doge and join the presale before the price goes up.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Market News

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

Parth Dubey on LinkedIn

TL;DR

Ark Invest submitted proposals to the SEC for an innovative series of Bitcoin ETFs.
The new funds aim to generate yield and protect against market downturns.
The strategy seeks to offer sophisticated products beyond simply tracking the price of Bitcoin.

Ark Invest, the renowned firm under the leadership of Cathie Wood, presented a bold proposal for the crypto asset market. It involves a new range of exchange-traded funds (ETFs) before the U.S. Securities and Exchange Commission (SEC).

The purpose of these new instruments is clear: to offer investors safer, more sophisticated, and smarter ways to gain exposure to Bitcoin (BTC), marking an evolution in investment products based on the market’s leading cryptocurrency.

The new family of financial products includes the “ARK Bitcoin Yield ETF,” designed to generate income from BTC’s volatility through derivative strategies, such as selling options.

Additionally, the “ARK DIET Bitcoin ETFs” were introduced, which present a more conservative and strategic approach. These new Ark Invest Bitcoin ETFs are designed to protect investors against a portion of potential losses, participating in gains only after certain predefined thresholds are surpassed.

Strategy Against the Competition
This is not an isolated move. Ark Invest is responding to an increasingly competitive environment in the cryptocurrency ETF sector. The initiative comes shortly after giants like BlackRock also announced their own yield-oriented Bitcoin funds.

With these proposals, Cathie Wood’s firm seeks to differentiate itself by offering products that go beyond simply tracking BTC’s spot price. The new Ark Invest Bitcoin ETFs bet on active risk management and the pursuit of yield, attracting an investor profile that, while interested in Bitcoin’s potential, also values capital protection and passive income generation.

If approved, these funds could transform the perception of Bitcoin, consolidating it not only as a speculative asset but as a strategic and versatile tool within diversified and regulated investment portfolios.

MIGDAL HAEMEK, Israel – October 15, 2025 – Tower Semiconductor (NASDAQ/ TASE: TSEM), the leading foundry of high value analog semiconductor solutions, will issue its third quarter 2025 earnings release on Monday, November 10, 2025. The Company will hold a conference call to discuss its third quarter 2025 financial results and fourth quarter 2025 guidance on Monday, November 10, 2025, at 10:00 a.m. Eastern Time (09:00 a.m. Central, 08:00 a.m. Mountain, 07:00 a.m. Pacific and 05:00 p.m. Israel time).

The call will be webcast and available through the Investor Relations section of Tower Semiconductor’s website at https://ir.towersemi.com/, where the pre-registration form required for dial-in participation is also accessible. Upon completing the registration, participants will receive the dial-in details, a unique PIN, and a confirmation email with all necessary information. The teleconference will be available for replay for 90 days.

About Tower Semiconductor         

Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

###
Contact Information:
Liat Avraham
Investor Relations
[email protected] | +972 4 650 6154

TSEM_Tower_Q32025_PRDate_1

October 15, 2025 06:00 ET

 | Source:

Cenovus Energy Inc.

CALGARY, Alberta, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced that it has acquired an additional 3,276,460 common shares of MEG Energy Corp. (“MEG”) through the facilities of the Toronto Stock Exchange or other Canadian alternative exchanges or markets. Immediately following the acquisition of the common shares, Cenovus beneficially owned, directly or indirectly, and exercised control or direction over, an aggregate of 25,000,000 MEG common shares representing 9.8% of the 254,378,035 MEG common shares issued and outstanding, all of which have been acquired by Cenovus since Oct. 8, 2025.

The MEG common shares were acquired by Cenovus in furtherance of its previously announced transaction with MEG. To the extent Cenovus is able, the company intends to vote any acquired shares in favour of the transaction. Cenovus may, from time to time, dependent on market or other conditions, and subject to applicable securities laws, either increase or decrease its beneficial ownership in the MEG common shares.

Advisory

Forward‐looking Information
This news release contains certain forward‐looking statements and forward‐looking information (collectively referred to as “forward‐looking information”) within the meaning of applicable securities legislation. Although Cenovus believes that the expectations represented by such forward‐looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Forward‐looking information in this document is identified by words such as “intends” and “may” and includes, but is not limited to, statements regarding: Cenovus’s intention to vote acquired shares in favour of its previously announced transaction with MEG; and regarding Cenovus’s future ownership in MEG common shares and its intentions related thereto. Developing forward‐looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, including those risks identified under “Risk Management and Risk Factors” and “Advisory” in Cenovus’s Management’s Discussion and Analysis for the periods ended December 31, 2024 and June 30, 2025 and to the risk factors, assumptions and uncertainties described in other documents Cenovus files from time to time with securities regulatory authorities in Canada (available on SEDAR+ at sedarplus.ca, on EDGAR at sec.gov and Cenovus’s website at cenovus.com). Except as required by applicable securities laws, Cenovus disclaims any intention or obligation to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.

Cenovus Energy Inc.

Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is committed to maximizing value by developing its assets in a safe, responsible and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Cenovus common shares and warrants are listed on the Toronto and New York stock exchanges, and the company’s preferred shares are listed on the Toronto Stock Exchange. For more information, visit cenovus.com.

Find Cenovus on Facebook, LinkedIn, YouTube and Instagram.

Cenovus contacts
InvestorsMediaInvestor Relations general line
403-766-7711Media Relations general line
403-766-7751

MAHWAH, N.J., Oct. 15, 2025 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cybersecurity and application delivery solutions, today announced expanded capabilities and coverage to its AI SOC Xpert. Less than a year ago Radware launched AI SOC Xpert for Cloud DDoS Protection, marking a milestone in embedding AI into Security Operations Center (SOC) operations to accelerate investigation, streamline remediation, and strengthen defenses. This next wave of AI SOC Xpert equips SOC teams with agentic AI capabilities that deliver broader coverage, deeper AI guidance, and measurable efficiency gains that empower SOC teams to investigate smarter, remediate faster, and prevent more effectively across multiple attack surfaces.

Powered by Radware’s EPIC-AI™, AI SOC Xpert now delivers root cause analysis, timeline, and incident context within minutes across both DDoS and bot attacks, providing analysts with the clarity they need to understand what happened and respond with speed and confidence, automatically and at scale. Whereas analysts previously relied on manual correlation or switching between tools, they can now access new dashboards for Application Protection and On-Premise DDoS Protection, along with significant AI enhancements to Cloud DDoS Protection. This unified view of what happened, why it matters, and how to respond reduces investigation fatigue and helps teams act faster under pressure thus reducing mean time to resolution (“MTTR”).

In addition to attack remediation, AI SOC Xpert can also be used during the attack prevention phase by profiling peacetime traffic to proactively prepare filters before attacks begin. This knowledge is used to recommend proactive tuning, refine protections, and support a positive security model that enforces policy more accurately when an attack begins.

“While the growing ecosystem of agentic capabilities provides vast opportunities for businesses, as AI systems gain autonomy the attack surface expands dramatically,” said Gabi Malka, chief operating officer, Radware. “Analysts have more to track and more complex root causes to analyze which contributes to down time as they seek to repair. Radware is extending AI SOC Xpert to further protect applications in an AI agentic world. Think of it as an AI agent for the SOC, reducing MTTR by up to twenty times.”

To help customers protect their brands and significantly reduce the time, effort, and costs in managing DDoS and application security incidents, enhancements to AI SOC Xpert include:

AI SOC Xpert for Application Protection

Introduces AI-driven incident remediation for bot attacks, significantly improving root cause analysis and lowering MTTR.Visual dashboards that highlight anomalies, incidents, and attack patterns with clear, agentic AI-guided recommendations.Smarter continuous policy optimization with AI-driven tuning recommendations that reduce false positives and streamline WAF management.Automated workflows and context-optimized recommendations tailored to advanced bot activity, helping teams distinguish between legitimate automation and malicious bots. AI SOC Xpert for DDoS Protection

Supports on-premise, hybrid and cloud-based DDoS protection solutions.Introduces a new dashboard embedded directly into Radware’s DDoS protection platform, DefensePro X, and Cyber Controller.Uses peacetime traffic profiles to proactively prepare filters before attacks begin.Provides one-click enforcement options for real-time remediation, whether deployed inline or out-of-path.Expanded capabilities include agentic AI-powered forensic storytelling, structured summaries, and anomaly detection.Continuous monitoring of vectors, packet sizes, and traffic dynamics to accelerate detection and mitigation. About Radware:

Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, and YouTube.

Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that “our AI SOC Xpert solution can reduce "MTTR by up to twenty times” and that “as AI systems gain autonomy the attack surface expands dramatically”, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, tensions between China and Taiwan, financial and credit market fluctuations (including elevated interest rates), impacts from tariffs or other trade restrictions, inflation, and the potential for regional or global recessions; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cybersecurity and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, or if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; our use of AI technologies that present regulatory, litigation, and reputational risks; risks related to the fact that our products must interoperate with operating systems, software applications and hardware that are developed by others; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns; our net losses in the past and the possibility that we may incur losses in the future; a slowdown in the growth of the cybersecurity and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; complications with the design or implementation of our new enterprise resource planning (“ERP”) system; our reliance on information technology systems; our ESG disclosures and initiatives; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com. 

Media Contact:

Gina Sorice
[email protected]

Elon Musk, Chief Executive Officer of SpaceX and Tesla, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesDelaware Supreme Court hears Musk's pay package appealChancellor McCormick ruled Musk controlled pay negotiations, plan deemed unfairTesla disputes $345 million legal fee, seeks reduced compensationDOVER, Delaware, Oct 15 (Reuters) - Elon Musk's lawyers will urge the Delaware Supreme Court on Wednesday to restore his $56 billion pay package from Tesla

(TSLA.O), opens new tab, as one of the biggest corporate legal battles enters its final stage nearly two years after a lower court judge rescinded the Tesla CEO's record compensation.

The outcome could have substantial consequences for the state of Delaware, its widely used corporate law, and its Court of Chancery, a once-favored venue for business disputes that has recently been accused of hostility towards powerful entrepreneurs.

Sign up here.

The January 2024 Court of Chancery ruling striking down Musk's pay has become a rallying cry for Delaware critics. Chancellor Kathaleen McCormick ruled that the Tesla board lacked independence from Musk when it approved the pay package in 2018 and that shareholders lacked key information when they voted overwhelmingly in favor of it. As a result, she applied a demanding legal standard and found the pay unfair to investors.

The defendants, current and former Tesla directors, denied wrongdoing and said McCormick misinterpreted the facts and the law. Musk is not expected to attend.

COMPANIES SWITCH LEGAL HOMESAfter the Musk pay ruling, large companies, including Tesla, Dropbox, and the venture capital firm Andreessen Horowitz, switched their legal homes to Texas or Nevada, where courts are friendlier toward directors. Delaware lawmakers responded to the corporate departures, a trend known as "Dexit," by overhauling its corporate law.

If Musk loses the appeal, he will still reap tens of billions of dollars in stock from the electric vehicle company, which agreed in August to a replacement deal if his 2018 plan is not restored.

The company said the replacement award was meant to retain and focus Musk, who said earlier this year he was forming a new U.S. political party, on transitioning Tesla to robotics and automated driving. Tesla is now incorporated in Texas, where it is far more difficult for a shareholder to challenge board decisions.

Tesla's board last month proposed a $1 trillion compensation plan, highlighting confidence in Musk's ability to steer the company in a new direction, even as Tesla loses ground to Chinese rivals in key markets amid softening EV demand.

The five justices on Delaware's high court will consider the appeal of the pay ruling as well as the $345 million legal fee that McCormick ordered Tesla to pay to the attorneys for Richard Tornetta, who held just nine Tesla shares when he sued to block the pay deal. The court typically takes months to rule.

Tesla estimated in 2018 the stock options plan would be worth $56 billion if the company met operational and financial goals, which it did. Because the stock continued to appreciate, the options are currently worth closer to $120 billion, by far the largest executive compensation ever. Musk is the world's richest person with a fortune of around $480 billion, according to Forbes.

The defendants have argued that McCormick erred in finding social and business ties to Musk compromised their independence and said Tesla shareholders were informed of the economic terms of the pay deal before they approved the plan. The directors said she should have reviewed the pay package under the "business judgment" standard, which protects directors from second-guessing by courts.

The directors have long argued the pay package performed as hoped - it focused the attention of Musk, a serial entrepreneur, and he transformed Tesla from a startup into one of the world's most valuable companies.

Several months after McCormick's ruling, Tesla received shareholder approval a second time for the plan, which McCormick rejected as legally invalid. Tesla is also appealing that decision.

Reporting by Tom Hals in Dover, Delaware;
Editing by Noeleen Walder and Rod Nickel

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

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. MONGOLIAN MINING CORPORATION (Incorporated in the Cayman Islands with limited liability) (Stock Code: 975) OPERATIONAL UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2025 HONG KONG, Oct. 15, 2025 (GLOBE NEWSWIRE) -- The board of directors (the “Board”) of Mongolian Mining Corporation (the “Company”, together with its subsidiaries, collectively the “Group”) wishes to announce the unaudited operational update for the quarter ended 30 September 2025.

One year after launch of real-world CLARIFY study, preliminary data from the first 1,000 enrolled patients will be presented

October 15, 2025 06:09 ET

 | Source:

Biodesix, Inc.

LOUISVILLE, Colo., Oct. 15, 2025 (GLOBE NEWSWIRE) -- Biodesix, Inc. (Nasdaq: BDSX), a leading diagnostics solutions company, announces educational events, abstracts, and activities at the 2025 CHEST Annual Meeting, October 19-22, in Chicago, Illinois.

Biodesix will be presenting data from an interim analysis of the CLARIFY study in a sponsored Learning Theater presentation.

Title: Driving to a New Standard of Care in Lung Nodule Management: Preliminary Results from the Nodify Lung Real-World CLARIFY Study
Presenter: Michael Kammer, PhD, Head of Radiomics at Biodesix
Location: Learning Theater 4
Date and Time: Biodesix Learning Theatre, October 21 at 2:00 pm CDT
Description: This presentation will review analysis from the first 1,000 patients enrolled in the CLARIFY study. The CLARIFY study began patient enrollment shortly after the 2024 CHEST Annual Meeting and is designed to confirm performance of the Nodify CDT® and Nodify XL2® tests in diverse patient subgroups through a retrospective chart review of up to 4,000 patients with at least 1-year follow-up since being tested in a real-world clinical setting. The study’s intent is to expand the extensive evidence characterizing the validation and utility of the Nodify Lung tests.

A national analysis of lung nodules receiving clinical work-up across diverse care settings will also be presented at the meeting, highlighting the need for more structured lung nodule management approaches to optimize efficiency of healthcare resource utilization and improve patient outcomes.

Title: Pulmonary Nodule-related Healthcare Resource Utilization After Diagnosis of Pulmonary Nodule in the United States
Presenting Author: Kimberly Le, PharmD, MS, MBA, Director of Health Economics Outcomes Research at Biodesix
Date and Time: Wednesday, October 22, 10:20 AM

It is important to note that there will be numerous independent presentations by healthcare professionals highlighting the clinical value of the Nodify Lung tests in their own real-world patient populations. Examples are below.

Title: Comparison of the Blood-based Nodify XL2 Test with PET/CT to Evaluate for Malignancy in Indeterminate Pulmonary Nodules in an Endemic Fungal Region
Presenting Author: Michael Torres Lizardi, MD
Date and Time: Sunday, October 19, 11:20 AM CDT

Title: Impact of the Nodify Lung Test Strategy in the Risk Stratification of Lung Nodules in Patients of a Pulmonary Practice in Miami
Presenting Author: Elizabeth Samper Perez
Date and Time: Wednesday, October 22, 10:20 AM CDT

Title: The Association of Lung Cancer Screening (LCS) and Proteomic Lung Nodule Testing in an Unrepresentative Minority Community (UMC) in Brooklyn, NY
Presenting Author: Juan Martinez Zegarra, MD
Date and Time: Wednesday, October 22, 10:20 AM CDT

Title: A Retrospective Analysis of Biodesix Biomarker to Assess Efficacy in Risk Stratification and Reduction of Invasive Surgical Procedures in Detected Solitary Pulmonary Nodules
Presenting Author: Kevin Huynh, DO
Date and Time: Wednesday, October 22, 10:20 AM CDT

In addition, Biodesix executive leaders and medical officers will be present at the Biodesix booth #1012 to discuss the future of biomarkers for lung nodule management and lung health diagnostics.

“It is an exciting time to be part of the lung diagnostics space, with biomarkers poised to transform and improve patient care,” said Scott Hutton, CEO at Biodesix. "With thousands of lung specialists coming together, the CHEST Annual Meeting offers a pivotal moment in lung diagnostics and in the fight against lung cancer. It’s great timing with Lung Cancer Awareness Month starting November 1st.”

About Biodesix:

Biodesix is a leading diagnostic solutions company, driven to improve clinical care and outcomes for patients. Biodesix Diagnostic Tests, marketed as Nodify Lung® Nodule Risk Assessment and IQLung® Cancer Treatment Guidance, support clinical decisions to expedite personalized care and improve outcomes for patients with lung disease. Biodesix Development Services enable the world’s leading biopharmaceutical, life sciences, and research institutions with scientific, technological, and operational capabilities that fuel the development of diagnostic tests, tools, and therapeutics. For more information, visit biodesix.com.

Biodesix Contacts:
Media:
Natalie St. Denis, Director Corporate Communications, Biodesix
[email protected]
(720) 925-9285

Investors:
Chris Brinzey, Partner, ICR
[email protected]
(339) 970-2843