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SummaryRelay Therapeutics is approaching a pivotal clinical catalyst with the March 16th zovegalisib Phase 1/2 data readout at ESMO TAT.RLAY’s financials show improved operational efficiency, with reduced R&D and G&A expenses, but the company remains in a high-investment, pre-commercial phase.Breakthrough Therapy Designation for zovegalisib in metastatic breast cancer signals strong regulatory momentum and potential differentiation in a large, underserved market.RLAY’s $554.5M cash position supports operations into 2029, with valuation driven by pipeline potential rather than current revenues. janiecbros/E+ via Getty Images

Thesis Relay Therapeutics (RLAY) reported earnings in late February. My initial thoughts were that the numbers are pretty much as you would expect. We saw that spending is still very high with the ongoing zovegalisib trials. However, there

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Dividend Power's March 2026 list highlights 35 high-yield, low-priced financial stocks, with five 'safer' picks showing free cash flow yields above dividend yields. Analyst forecasts project average net gains of 43.15% by March 2027 for the top ten DiviPower stocks, with MFA Financial leading at a projected 57.75% return. All 35 stocks meet the dogcatcher standard: projected annual dividends from $1K invested exceed their single share prices, signaling deep value opportunities.

TSX: MFI

Maple Leaf Foods reports fourth quarter Revenue growth of 8.1% and Adjusted EBITDA growth of 8.3%

, /PRNewswire/ - Maple Leaf Foods Inc. ("Maple Leaf Foods" or "the Company") (TSX: MFI) today reported its financial results for the fourth quarter and full year ended December 31, 2025.

Fourth Quarter 2025 Highlights(ii)

Sales were $991 million compared to $917 million for the same period last year, an increase of 8.1%. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA")(i) grew to $117 million, an 8.3% increase from the same period last year, with Adjusted EBITDA Margin of 11.8% in line with last year. Earnings were $391 million ($3.14 earnings per basic share) compared to $54 million ($0.43 earnings per basic share) last year. Adjusted Earnings per Share(i) was $0.32 for the fourth quarter compared to $0.18 for the same period last year. Increased return of capital to shareholders through payment of a $75 million special cash dividend. 2025 Highlights(ii)

Sales were $3,913 million compared to $3,633 million last year, an increase of 7.7%. Adjusted EBITDA(i) grew to $476 million, a 21% increase compared to last year, with Adjusted EBITDA Margin increasing from 10.8% to 12.2%. Earnings were $542 million ($4.36 earnings per basic share) compared to $97 million ($0.79 earnings per basic share) last year. Adjusted Earnings per Share(i) was $1.09 for 2025 compared to $0.15 last year. Net Debt(i) was $995 million, with Net Debt to Trailing Twelve Months Adjusted EBITDA(i) of 2.1x improving from 2.7x at the same time a year ago. Executive Commentary

"Our fourth-quarter results capped off another year of substantial operational and financial progress for Maple Leaf Foods," said Curtis Frank, President and Chief Executive Officer of Maple Leaf Foods. "In 2025, disciplined execution of the Maple Leaf Blueprint delivered revenue growth of nearly 8%, a 21% increase in Adjusted EBITDA, and a 140-basis-point expansion in Adjusted EBITDA margin to 12.2%, while further strengthening our balance sheet and unlocking shareholder value."

"We are now seeing the tangible benefits of our transformation into a simpler, purpose-driven, protein-centric, brand-led CPG company," continued Frank. "The strength of our portfolio of leading brands, the resilience of our proven growth platforms, and the returns from major capital projects and initiatives such as Fuel for Growth are driving margin expansion and improving consistency across the business."

"Having entered a new phase defined by balance sheet strength and financial flexibility, we are well positioned to pursue a disciplined, investor-focused approach to capital allocation while driving mid-single-digit revenue growth and continued margin expansion. This supports our expectation of $520 to $540 million of Adjusted EBITDA in 2026 and reflects the focus and execution of our teams as they continue to translate our strategy into results."

Outlook

The Company expects the following for fiscal 2026: Mid-single-digit increase in revenue from 2025, driven by the execution of proven growth strategies along with strong and growing consumer demand for protein. Adjusted EBITDA(ii) of approximately $520 - $540 million, driven by revenue growth and margin improvement from operational discipline and the benefits from the Company's Fuel for Growth initiative. Maintain an investment-grade balance sheet with Net Debt to Trailing Twelve Months Adjusted EBITDA(ii) below 3.0x supported by strong free cash flow and prudent capital allocation. Disciplined capital investment of approximately $160 - $180 million in spend focused on maintenance and productivity enhancement investments. Dividend growth of approximately 10% with the quarterly dividend increasing from $0.19 to $0.21 per share, underscoring Maple Leaf Foods' commitment to delivering shareholder returns. Maple Leaf Foods recognizes that macro-economic factors may continue to strongly influence the operating environment, creating uncertainty and potential volatility. This has a number of implications for the Company's business, including the influence these dynamics have on consumer sentiment, supply chain activity, access to markets, barriers to trade, and foreign exchange rates. The Company leverages its data-driven insights to stay close to these evolving circumstances and is confident in the resilience of its brands, business model and strategy to manage through prevailing economic conditions. At the same time, it recognizes that its ability to deliver its 2026 guidance could be impacted by these conditions. Refer to section 23. Risk Factors in the Company's Management's Discussion and Analysis for the year ended December 31, 2025 as filed on the System for Electronic Data Analysis and Retrieval ("SEDAR+").

(i)    Refer to the section titled Non-IFRS Financial Measures in this news release.

(ii)   Prior year amounts have been restated to reflect results from continuing operations with the exception of Net Debt to Trailing Twelve Months Adjusted EBITDA.

Financial and Operating Highlights

On October 1, 2025 the Company completed the spin-off of its pork operations, which have been presented as discontinued operations in the Company's Consolidated Statements of Earnings. The continuing operations of the Company are comprised of two operating units, Prepared Foods and Poultry, which account for approximately 75% and 25% of sales, respectively.

As at or for the

$ millions except earnings per share

(Unaudited)

Three months ended December 31,

Twelve months ended December 31,

2025

2024

Change

2025

2024

Change

Sales(i)

$     991.2

$     917.1

8.1 %

$    3,912.7

$  3,633.4

7.7 %

Gross profit(i)

$     158.4

$     143.5

10.4 %

$       662.8

$     557.3

18.9 %

Selling, general and administrative expenses(i)

$       93.2

$       90.0

3.6 %

$       397.4

$     391.7

1.5 %

Earnings (Loss) from Continuing Operations(i)

$      (34.4)

$         6.4

nm(iii)

$         43.9

$      (11.9)

nm(iii)

Earnings

$     391.2

$       53.5

nm(iii)

$       541.6

$       96.6

nm(iii)

Earnings (Loss) per Basic Share from Continuing Operations(i)  

$      (0.28)

$       0.05

nm(iii)

$         0.35

$      (0.10)

nm(iii)

Earnings per Basic Share

$       3.14

$       0.43

nm(iii)

$         4.36

$       0.79

nm(iii)

Adjusted Operating Earnings(i)(ii)

$       67.2

$       52.8

27.3 %

$       270.3

$     181.9

48.6 %

Adjusted EBITDA(i)(ii)

$     117.3

$     108.3

8.3 %

$       475.7

$     392.7

21.1 %

Adjusted EBITDA Margin(i)(ii)

11.8 %

11.8 %

0 bps

12.2 %

10.8 %

140 bps

Adjusted EBT(i)(ii)

$       54.6

$       27.8

96.4 %

$       189.6

$       33.0

nm(iii)

Adjusted Earnings per Share(i)(ii)

$       0.32

$       0.18

77.8 %

$         1.09

$       0.15

nm(iii)

Free Cash Flow(ii)

$       69.8

$     129.8

(46.2) %

$       318.4

$     385.3

(17.4) %

 Net Debt(ii)

$       995.2

$  1,516.0

(34.4) %

(i)    2024 amounts have been restated to exclude discontinued operations related to the pork operations.

(ii)    Refer to the section titled Non-IFRS Financial Measures in this news release.

(iii)   Not meaningful.

Fourth Quarter 2025

Sales for the fourth quarter of 2025 were $991.2 million compared to $917.1 million last year, an increase of 8.1%. Prepared Foods sales increased by 6.1% driven by pricing and improved mix, which were partially offset by increased trade promotions. Poultry sales increased by 13.1% driven by improved channel mix tied to retail and foodservice volume growth and pricing, which were partially offset by increased trade promotions.

Gross profit for the fourth quarter of 2025 was $158.4 million (gross margin(i) of 16.0%) compared to $143.5 million (gross margin of 15.6%) last year. The increase in gross profit was driven by favourable Poultry channel mix, improved operating efficiencies, and pricing impacts which were partially offset by input cost inflation and higher trade promotion costs.

Selling, General and Administrative ("SG&A") expenses for the fourth quarter of 2025 were $93.2 million compared to $90.0 million last year. The increase in SG&A expenses was primarily driven by higher variable compensation.

Loss from continuing operations for the fourth quarter of 2025 was $34.4 million ($0.28 loss per basic share from continuing operations), compared to earnings of $6.4 million ($0.05 earnings per basic share from continuing operations) last year. Loss from continuing operations was impacted by the same factors as noted above for gross profit and SG&A, a non-cash impairment of plant protein intangible assets and higher income tax expense, partly offset by a non-cash settlement gain on a pension annuity purchase, reduced interest expense due to lower debt levels, and lower restructuring charges.

Earnings for the fourth quarter of 2025 were $391.2 million ($3.14 earnings per basic share) compared to $53.5 million ($0.43 earnings per basic share) last year. The increase was driven by the factors noted above for the decrease in earnings from continuing operations and the foregone earnings from the divested business, which were more than offset by a gain from the disposal of the pork operations.

Adjusted Operating Earnings for the fourth quarter of 2025 were $67.2 million compared to $52.8 million last year, and Adjusted Earnings per Share for the fourth quarter of 2025 was $0.32 compared to $0.18 last year. The increase was driven by factors consistent with those noted above for gross profit and SG&A.

Adjusted EBITDA for the fourth quarter was $117.3 million, compared to $108.3 million last year, driven by factors consistent with those noted above for Adjusted Operating Earnings.  Adjusted EBITDA Margin for the fourth quarter of 2025 was 11.8%, flat to last year, also driven by factors consistent with those noted above.

Adjusted Earnings Before Taxes ("Adjusted EBT") for the fourth quarter of 2025 was $54.6 million compared to $27.8 million last year, driven by factors noted above.

Free Cash Flow for the fourth quarter of 2025 was $69.8 million compared to $129.8 million in the prior year. Free Cash Flow decreased due to lower cash earnings as a result of the spin-out of the pork operations, income tax refunds in the prior year and higher maintenance capital expenditures, partially offset by lower interest payments.

Full Year 2025

Sales for 2025 were $3,912.7 million compared to $3,633.4 million last year, an increase of 7.7%. Prepared Foods sales increased by 6.5% driven by pricing, improved mix, and volume growth, which were partially offset by higher trade promotions. Poultry sales increased by 10.8% driven by improved channel mix tied to retail and foodservice volume growth and pricing, which were partially offset by increased trade promotions.

Gross profit for 2025 increased to $662.8 million (gross margin(i) of 16.9%) compared to $557.3 million (gross margin of 15.3%) last year. The increase in gross profit was driven by favourable mix in Prepared Foods and Poultry, positive operating efficiencies inclusive of benefits from the investments in the London poultry and Bacon Centre of Excellence facilities, a reduction in start-up expenses, lower depreciation, and pricing impacts which were partially offset by input cost inflation and higher trade promotion costs.

SG&A expenses for 2025 were $397.4 million compared to $391.7 million last year. The increase was driven by higher variable compensation and higher advertising and promotional expenses, which were partially offset by lower consulting fees.

Earnings from continuing operations for 2025 were $43.9 million ($0.35 earnings per basic share from continuing operations) compared to a loss of $11.9 million ($0.10 loss per basic share from continuing operations) last year. Earnings from continuing operations were impacted by the same factors as noted above for gross profit and SG&A, reduced interest expense due to lower debt levels and interest rates, a non-cash settlement gain on a pension annuity purchase, and lower restructuring costs, all partly offset by a non-cash impairment of plant protein intangible assets and higher income tax expense.

Earnings for 2025 were $541.6 million ($4.36 earnings per basic share) compared to $96.6 million ($0.79 earnings per basic share) last year. The increase was driven by earnings from continuing operations as noted above as well as a gain from the disposal of the pork operations, partially offset by the foregone earnings from the divested business for the fourth quarter, both of which are reflected within discontinued operations.

Adjusted Operating Earnings for 2025 were $270.3 million compared to $181.9 million last year, and Adjusted Earnings per Share for 2025 was $1.09 compared to $0.15 last year. The increase was driven by factors consistent with those noted above excluding the impact of start-up expenses.

Adjusted EBITDA for 2025 was $475.7 million compared to $392.7 million last year, driven by factors consistent with those noted above for Adjusted Operating Earnings excluding the reduction of depreciation expense. Adjusted EBITDA Margin for 2025 was 12.2% compared to 10.8% last year, also driven by factors consistent with those noted above.

Adjusted EBT for 2025 was $189.6 million compared to $33.0 million last year due to similar factors as noted above.

Free Cash Flow for 2025 was $318.4 million compared to $385.3 million in the prior year. Free Cash Flow decreased due to income tax refunds in the prior year and investments in working capital offset by lower interest paid and improved earnings after the removal of non-cash items.

Net Debt as at December 31, 2025 was $995.2 million, a decrease of $520.9 million compared to the prior year. For discussion of changes in Net Debt see section 12. Cash Flow and Financing of the Company's Management's Discussion and Analysis for the year ended December 31, 2025 as filed on SEDAR+.

(i)    Gross margin is defined as gross profit divided by sales.

Note: Several items are excluded from the discussions of underlying earnings performance as they are not representative of ongoing operational activities. Refer to the section entitled Non-IFRS Financial Measures at the end of this news release for a description and reconciliation of all non-IFRS financial measures.

Other Matters

On January 12, 2026, the Board of Directors approved an increase in the quarterly dividend from $0.19 per share to $0.21 per share, or $0.84 per share on an annual basis. With this increase, the dividend payment for the first quarter of 2026 will be $0.21 per common share, payable on March 31, 2026, to shareholders of record at the close of business on March 9, 2026. Unless indicated otherwise by the Company at or before the time the dividend is paid, the dividend will be considered an eligible dividend for the purposes of the "Enhanced Dividend Tax Credit System". The Company's Dividend Reinvestment Plan ("DRIP") permits eligible shareholders to direct their cash dividends to be reinvested in additional common shares of the Company. For those who wish to reinvest their dividends under the DRIP, Maple Leaf Foods intends to issue common shares from treasury at a price equal to 100% of the weighted average closing price of the shares for the five trading days preceding the dividend payment date. Full details of the DRIP, including how to enroll in the program, are available at https://www.mapleleaffoods.com.

Conference Call

A conference call will be held at 8:00 a.m. ET on March 5, 2026, to review Maple Leaf Foods' fourth quarter and full-year 2025 financial results. To participate in the call, please dial 1-416-945-7677 or 1-888-699-1199. For those unable to participate, a playback will be made available an hour after the event at 1-289-819-1450 or 1-888-660-6345 (Passcode: 76986#).

A webcast of the fourth quarter and full-year 2025 conference call will also be available at: https://app.webinar.net/bMg8pdBoGyY.

The Company's full audited consolidated financial statements ("Consolidated Financial Statements") and related Management's Discussion and Analysis are available on the Company's website and on SEDAR+ at www.sedarplus.ca.

An investor presentation related to the Company's fourth quarter and full-year 2025 financial results will be available at www.mapleleaffoods.com/investors.

Non-IFRS Financial Measures

The Company uses the following non-IFRS measures: Adjusted Operating Earnings, Adjusted Earnings per Share, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBT, Construction Capital, Net Debt, Net Debt to Trailing Twelve Months Adjusted EBITDA and Free Cash Flow. Management believes that these non-IFRS measures provide useful information to investors in measuring the financial performance of the Company for the reasons outlined below. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS.  

Adjusted Operating Earnings, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EBT  

Adjusted Operating Earnings, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EBT are non-IFRS measures used by Management to evaluate financial operating results. Adjusted Operating Earnings is defined as earnings before income taxes adjusted for items that are not considered representative of ongoing operational activities of the business and certain items where the economic impact of the transactions will be reflected in earnings in future periods when the underlying asset is sold or transferred. Adjusted EBITDA is defined as Adjusted Operating Earnings plus depreciation and intangible asset amortization, adjusted for items included in other expense that are considered representative of ongoing operational activities of the business. Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by sales. Adjusted EBT is used annually by the Company to evaluate its performance and is a component of calculating bonus entitlements under the Company's short term incentive plan. It is defined as Adjusted EBITDA plus interest income, less depreciation and amortization, and interest expense and other financing costs.

The table below provides a reconciliation of earnings before income taxes as reported under IFRS in the Consolidated Financial Statements to Adjusted Operating Earnings, Adjusted EBITDA and Adjusted EBT for the years ended December 31, as indicated below. Management believes that these non-IFRS measures are useful in assessing the performance of the Company's ongoing operations and its ability to generate cash flows to fund its requirements.   

Three months ended December 31,  

Twelve months ended December 31,

($ millions)(i)(ii)
(Unaudited)

2025

2024

2025

2024

Earnings (loss) before income taxes

$                      (9.9)

$                        8.5

$                   103.6

$                      (8.3)

Interest expense and other financing costs

17.6

34.6

95.2

158.1

Other expense (income)

(33.2)

(2.0)

(30.2)

(4.1)

Impairment of intangible assets

85.0

—

85.0

—

Restructuring and other related costs

6.5

12.4

12.7

19.9

Equity loss (earnings) of associate

(0.9)

—

(0.9)

—

Earnings from operations

$                     65.2

$                      53.4

$                   265.4

$                   165.6

Start-up expenses from Construction Capital(iii)  

0.4

0.9

3.3

20.6

Decrease (increase) in derivative contracts

1.6

(1.5)

1.6

(4.3)

Adjusted Operating Earnings

$                     67.2

$                      52.8

$                   270.3

$                   181.9

Depreciation and amortization(iv)

48.2

50.7

196.1

209.3

Items included in other income (expense)

    representative of ongoing operations(v)

1.9

4.8

9.3

1.5

Adjusted EBITDA

$                   117.3

$                    108.3

$                   475.7

$                   392.7

Adjusted EBITDA Margin

11.8 %

11.8 %

12.2 %

10.8 %

Interest expense and other financing costs

(17.6)

(34.6)

(95.2)

(158.1)

Interest income

3.0

4.8

5.2

7.6

Depreciation and amortization

(48.2)

(50.7)

(196.1)

(209.3)

Adjusted EBT

$                     54.6

$                      27.8

$                   189.6

$                     33.0

(i)

Totals may not add due to rounding.

(ii)

2024 amounts have been restated to exclude discontinued operations related to the pork operations.

(iii)

Start-up expenses are temporary costs as a result of operating new facilities that are or were previously classified as Construction Capital. These costs can include training, product testing, yield and labour efficiency variances, duplicative overheads including depreciation and other temporary expenses required to ramp-up production.

(iv)

Depreciation included in start-up expenses and restructuring and other related costs is excluded from this line.

(v)

Primarily includes certain costs associated with sustainability projects, gains and losses on the impairment and sale of long-term assets, and other miscellaneous expenses.

Adjusted Earnings per Share

Adjusted Earnings per Share, a non-IFRS measure, is used by Management to evaluate financial operating results. It is defined as earnings per basic share and is adjusted on the same basis as Adjusted Operating Earnings. The table below provides a reconciliation of  earnings per basic share as reported under IFRS in the Consolidated Financial Statements to Adjusted Earnings per Share for the years ended December 31, as indicated below. Management believes this basis is the most appropriate on which to evaluate financial results as they are representative of the ongoing operations of the Company.   

($ per share)

(Unaudited)

Three months ended December 31,

Twelve months ended December 31,

2025

2024

2025

2024

Earnings (loss) per basic share from continuing operations

$          (0.28)

$           0.05

$           0.35

$          (0.10)

Impairment of intangible assets

0.72

—

0.72

—

Restructuring and other related costs(i)

0.04

0.07

0.08

0.12

Items included in other expense not considered representative of ongoing operations(ii)  

(0.17)

0.05

(0.09)

0.03

Start-up expenses from Construction Capital(iii)

—

0.01

0.02

0.12

Change in unrealized and deferred loss (gain) on derivative contracts

0.01

(0.01)

0.01

(0.03)

Adjusted Earnings per Share(iv)

$           0.32

$           0.18

$           1.09

$           0.15

(i)

Includes per share impact of restructuring and other related costs, net of tax.

(ii)

Primarily includes legal fees, vacancy costs on investment property, settlement gain on purchased buy-out annuities, spin-off transaction related costs and costs associated with "Fuel for Growth", net of tax.

(iii)

Start-up expenses are temporary costs as a result of operating new facilities that are or were previously classified as Construction Capital. These costs can include training, product testing, yield and labour efficiency variances, duplicative overheads and other temporary expenses required to ramp-up production, net of tax.

(iv)

Totals may not add due to rounding.

Net Debt 

The following table reconciles Net Debt and Net Debt to Trailing Twelve Months Adjusted EBITDA ratio to amounts reported under IFRS in the Company's Consolidated Financial Statements as at December 31, as indicated below. The Company calculates Net Debt as cash and cash equivalents, less current and long-term debt and bank indebtedness and calculates Net Debt to Trailing Twelve Months Adjusted EBITDA as the absolute value of Net Debt divided by Trailing Twelve Months Adjusted EBITDA. Management believes this measure is useful in assessing the amount of financial leverage employed.

As at December 31,

($ thousands)

(Unaudited)

2025

2024

Cash and cash equivalents

$         143,409

$         175,908

Current portion of long-term debt

$            (2,096)

$        (301,478)

Long-term debt

(1,136,493)

(1,390,479)

Total debt

$     (1,138,589)

$     (1,691,957)

Net Debt

$        (995,180)

$     (1,516,049)

Adjusted EBITDA(i)

$         475,715

$         553,224

Net Debt to Trailing Twelve Months Adjusted EBITDA  

2.1

2.7

(i)   2025 Adjusted EBITDA is from continuing operations and 2024 is presented as originally stated.  

Free Cash Flow 

Free Cash Flow, a non-IFRS measure, is used by Management to evaluate cash flow after investing in the maintenance of the Company's asset base. It is defined as cash provided by operations, less Maintenance Capital(i) and associated interest paid and capitalized. The following table calculates Free Cash Flow for the periods indicated below:   

($ thousands)

(Unaudited)

Three months ended December 31,

Twelve months ended December 31,

2025

$                2024

2025

2024

Cash provided by operating activities

$           113,605

155,904

$          435,455

$          464,920

Maintenance Capital(i)

(43,531)

(25,862)

(116,138)

(78,571)

Interest paid and capitalized related to Maintenance Capital  

(254)

(260)

(936)

(1,007)

Free Cash Flow

$             69,820

$           129,782

$          318,381

$          385,342

(i)

Maintenance Capital is defined as non-discretionary investment required to maintain the Company's existing operations and competitive position. For the twelve months ended December 31, total capital spending of $125.3 million (2024: $95.5 million) shown on the Consolidated Statements of Cash Flows is made up of Maintenance Capital of $116.1 million (2024: $78.6 million), and Growth Capital of $9.2 million (2024: $16.9 million). For the three months ended December 31, total capital spending of $48.4 million (2024: $29.2 million) is made up of Maintenance Capital of $43.5 million (2024: $25.9 million), and Growth Capital of $4.9 million (2024: $3.3 million). Growth Capital is defined as discretionary investment meant to create stakeholder value through initiatives that for example, expand margins, increase capacities or create further competitive advantage.

Forward-Looking Statements

This document contains, and the Company's oral and written public communications often contain, "forward-looking information" within the meaning of applicable securities law. These statements are based on current expectations, estimates, projections, beliefs, judgments and assumptions based on information available at the time the applicable forward-looking statement was made and in light of the Company's experience combined with its perception of historical trends. Such statements include, but are not limited to, statements with respect to objectives and goals, in addition to statements with respect to beliefs, plans, targets, goals, objectives, expectations, anticipations, estimates, and intentions. Often, but not always, forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "could", "would", "believe", "plan", "intend", "design", "target", "undertake", "view", "indicate", "maintain", "explore", "entail", "schedule", "objective", "strategy", "likely", "potential", "outlook", "aim", "propose", "goal", or positive or negative variations of such words and similar expressions suggesting future events or future performance. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. 

Specific forward-looking information in this document may include, but is not limited to, statements with respect to:

the Company's ability to pursue a disciplined, investor focused approach to capital allocation while driving mid-single digit revenue growth and continued Adjusted EBITDA margin expansion; the Company's fiscal 2026 outlook, including its expected outlook for Sales, Adjusted EBITDA, the Company's balance sheet, Net Debt to Trailing Twelve Months Adjusted EBITDA, capital investments and dividend growth and the anticipated drivers thereof; the Company's dividend policy, including future levels and sustainability of cash dividends, the tax treatment thereof and future dividend payment dates; Various factors or assumptions are typically applied by the Company in drawing conclusions or making the forecasts, projections, predictions or estimations set out in the forward-looking statements. These factors and assumptions are based on information currently available to the Company, including information obtained by the Company from third-party sources and include but are not limited to the following:

the benefits and impacts of the Spin-Off being realized, including the projected risks, costs, dis-synergies, and tax consequences; compliance by Maple Leaf Foods, Canada Packers and "specified shareholders", as defined in the Income Tax Act (''ITA"), with the rules related to butterfly transactions under the ITA both before and after the completion of the Spin-Off; the ability of Canada Packers to meet the Company's demand for pork for its Prepared Foods operations, including pork that meets the Company's sustainability requirements and claims; expectations regarding the adaptations in operations, supply chain, customer and consumer behaviour, economic patterns, foreign exchange rates, tariffs and other international trade dynamics, access to capital, and potential structural changes in global economic patterns; the competitive environment, associated market conditions (including tariffs) and market share metrics, category growth or contraction, the expected behaviour of competitors and customers and trends in consumer preferences; the success of the Company's business strategy and the relationship between pricing, inflation, volume and sales of the Company's products; prevailing commodity prices, implications of tariffs, interest rates, tax rates and exchange rates; impacts related to cybersecurity matters, including security costs, the potential for a future incident, the risks associated with data breaches, the availability of insurance, the effectiveness of remediation and prevention activities, third party activities, ongoing impacts, customer, consumer and supplier responses and regulatory considerations; geopolitical conditions and the ability of the Company to access markets and source ingredients and other inputs in light of global sociopolitical disruption, and the ongoing impact of global conflicts on inflation, trade and markets; the extent of potential outbreaks and/or spread of animal disease and implications for all protein markets; the availability of and access to capital to fund future capital requirements and ongoing operations; expectations regarding participation in and funding of the Company's pension plans; the availability of insurance coverage to manage certain liability exposures; the extent of future liabilities and recoveries related to legal claims; prevailing regulatory, tax and environmental laws; and future operating costs and performance, including the Company's ability to achieve operating efficiencies and maintain sales volumes, turnover of inventories and turnover of accounts receivable. Factors that could cause actual results or outcomes to differ materially from the results expressed, implied, or projected in the forward­ looking statements contained in this document include, among other things, risks associated with the following:

the Spin-Off not delivering the anticipated long-term strategic and financial advantages for the Company, and the degree to which benefits are realized or not and the timing to realize those benefits, including the implications on the Company's financial condition, results of operations and cash flows; continued exposure to risks associated with the pork operations business and inability of Canada Packers to supply the Company with an adequate volume of pork to support its Prepared Foods operations, particularly pork that meets its sustainability and product claim requirements; failure of the Company, Canada Packers or a "specified shareholder," as defined in the ITA, to comply with the rules related to butterfly transactions under the ITA which could result in significant tax becoming payable by the Company; potential structural changes in global market and economic conditions which may have implications for the operations and financial performance of the Company, as well the ongoing implications for macro socio-economic trends, trade instability and global tensions; macro economic trends, including inflation, consumer behaviour, recessionary indicators, labour availability and labour market dynamics and international trade trends, including tariffs, duties and global pork markets developments in international trade and access to markets and supplies, as well as social, political and economic dynamics, including global conflicts; competition, market conditions, and the activities of competitors, customers and consumers, including the expansion or contraction of key categories, inflationary pressures and the Company's ability to secure pricing and appeal to evolving consumer trends; pricing of products; cybersecurity and maintenance and operation of the Company's information systems, policies. processes and data, recovery, restoration and long term impacts of the cybersecurity event, the risk of future cybersecurity events, actions of third parties, risks of data breaches, effectiveness of business continuity planning and execution, and availability of insurance; geopolitical instability; the Company's inability to successfully and efficiently adjust operations to account for consolidated production; the results of the Company's execution of its business plans, the degree to which benefits are realized or not, and the timing associated with realizing those benefits, including the implications on cash flow; the health status of livestock, including the impact of potential pandemics; successful management of the Company's supply chain; cost savings and efficiency gains; operating performance, including manufacturing operating levels, fill rates and penalties; availability and quality of ingredients, including plant protein ingredients; availability of and access to capital, and compliance with credit facility covenants; fluctuations in the debt and equity markets; food safety, consumer liability and product recalls; reputation and public opinion; intellectual property, including product innovation, product development, brand strategy and trademark protection; the execution of capital projects and deployment of maintenance capital; climate change, climate regulation and the Company's sustainability performance; strategic risk management; decisions respecting the return of capital to shareholders; share trading price volatility; acquisitions and divestitures; pension plan assets and liabilities; the effectiveness of commodity and interest rate hedging strategies; impact of changes in the market value of hedging instruments; the supply management system for poultry in Canada; actual and threatened legal claims; the use of contract manufacturers; compliance with government regulation and adapting to changes in laws; fluctuations in interest rates and currency exchange rates; consumer trends and changes in consumer tastes and buying patterns; environmental regulation and potential environmental liabilities; consolidation in the retail environment; consolidation of operations and focus on protein seasonality and changes in promotional activities; unpredictable catastrophic events; weather; employment matters, including complying with employment laws across multiple jurisdictions, the potential for work stoppages due to non-renewal of collective agreements, recruiting and retaining qualified personnel, reliance on key personnel and succession planning; workplace health and safety; and changes in International Financial Reporting Standards and other accounting standards that the Company is required to adhere to for regulatory purposes. Readers are further cautioned that some of the forward-looking information, such as statements concerning future capital expenditures, revenue growth expectations, Adjusted EBITDA expectations, Adjusted EBITDA Margin expansion, and expected leverage ratios, and the Company's ability to achieve its financial targets or projections may be considered to be financial outlook for purposes of applicable securities legislation. Our financial outlook is presented to evaluate potential future earnings and anticipated future uses of cash flows and may not be appropriate for other purposes. Readers should not assume that the Company's financial outlook will be achieved.

Many factors could cause our actual results, performance, achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements herein, including, without limitation, the factors found under the heading "Risk Factors"  in this MD&A. The reader should review such section in detail. Additional information concerning the Company, including the Company's Annual Information Form for the year ended December 31, 2025, is available under the Company's profile on the System for Electronic Data Analysis and Retrieval ("SEDAR+") at www.sedarplus.ca.

The Company cautions that the foregoing list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect its results. The Company operates in a highly competitive and rapidly changing environment in which new risks often emerge. It is not possible for management to predict all risks, nor assess the impact of all risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. The forward-looking information contained in this document represents management's expectations as of the date of this document (or as of the date they are otherwise stated to be made) and are subject to change after such date. Maple Leaf disclaims any intention, obligation or undertaking to update or revise any forward-looking information, whether written or oral, as a result of new information, future events or otherwise, except as required under applicable securities laws.

About Maple Leaf Foods Inc.

Maple Leaf Foods (TSX: MFI) is a leading, protein-focused consumer packaged goods company headquartered in Mississauga, Ontario. It proudly produces responsibly made, delicious food under powerhouse brands that include Maple Leaf®, Maple Leaf Prime®, Maple Leaf ® Natural Selections®, Maple Leaf Mighty Protein™, Musafir™, Schneiders®, Mina® Halal, Greenfield Natural Meat Co.®, LightLife® and Field Roast™. Committed to Raising the Good in Food and bringing customers protein with purpose, Maple Leaf Foods delivers shared value for all its stakeholders by leading the way in safety and sustainability, building loved brands, operating with excellence, developing extraordinary talent, and broadening its impact through innovation and geographic reach.

Consolidated Balance Sheets

(In thousands of Canadian dollars)

(Audited)

As at December 31, 
2025 

As at December 31, 
2024 

ASSETS

Cash and cash equivalents

$                         143,409

$                       175,908

Accounts receivable

139,075

170,919

Notes receivable

62,116

37,978

Inventories

472,296

553,398

Biological assets

10,921

169,399

Income and other taxes recoverable

2,604

7,551

Prepaid expenses and other assets

24,386

42,342

Assets held for sale

—

22,769

Total current assets

$                         854,807

$                    1,180,264

Property and equipment

1,716,370

2,123,167

Right-of-use assets

71,182

160,922

Investments

121,830

12,763

Investment property

55,656

42,588

Employee benefits

50,576

22,429

Other long-term assets

8,132

24,918

Deferred tax asset

36,117

46,588

Goodwill

387,353

477,353

Intangible assets

239,907

339,526

Total long-term assets

$                      2,687,123

$                    3,250,254

Total assets

$                      3,541,930

$                    4,430,518

LIABILITIES AND EQUITY

Accounts payable and accruals

$                         514,585

$                       561,179

Current portion of provisions

10,364

14,482

Current portion of long-term debt

2,096

301,478

Current portion of lease obligations

18,457

39,900

Income taxes payable

92,314

2,595

Other current liabilities

23,526

37,587

Total current liabilities

$                         661,342

$                       957,221

Long-term debt

1,136,493

1,390,479

Lease obligations

75,464

147,892

Employee benefits

56,106

62,395

Provisions

2,719

3,912

Other long-term liabilities

4,589

5,205

Deferred tax liability

284,223

325,137

Total long-term liabilities

$                      1,559,594

$                    1,935,020

Total liabilities

$                      2,220,936

$                    2,892,241

Shareholders' equity

Share capital

$                         930,411

$                       897,839

Retained earnings

343,108

587,393

Contributed surplus

11,950

12,482

Accumulated other comprehensive income  

40,964

43,994

Treasury shares

(5,439)

(3,431)

Total shareholders' equity

$                      1,320,994

$                    1,538,277

Total liabilities and equity

$                      3,541,930

$                    4,430,518

Consolidated Statements of Earnings

Three months ended December 31,

Twelve months ended December 31,

(In thousands of Canadian dollars, except share amounts)

2025

2024(i)

2025

2024(i)

(Unaudited)

(Unaudited)

(Audited)

(Audited)

Sales

$       991,242

$       917,050

$    3,912,665

$    3,633,404

Cost of goods sold

832,827

773,589

3,249,899

3,076,055

Gross profit

$       158,415

$       143,461

$       662,766

$       557,349

Selling, general and administrative expenses

93,226

90,049

397,383

391,733

Earnings before the following:

$         65,189

$         53,412

$       265,383

$       165,616

Restructuring and other related costs

6,503

12,356

12,713

19,922

Other expense (income)

(33,180)

(1,990)

(30,212)

(4,133)

Impairment of intangible assets

85,000

—

85,000

—

Equity loss (earnings) of associate

(888)

—

(888)

—

Earnings before interest and income taxes

$           7,754

$         43,046

$       198,770

$       149,827

Interest expense and other financing costs

17,610

34,594

95,191

158,124

Earnings (loss) before income taxes

$          (9,856)

$           8,452

$       103,579

$         (8,297)

Income tax expense

24,555

2,020

59,634

3,570

Earnings (loss) from continuing operations

$        (34,411)

$           6,432

$         43,945

$        (11,867)

Earnings from discontinued operations

425,644

47,104

497,685

108,466

Earnings

$       391,233

$         53,536

$       541,630

$         96,599

Earnings (loss) per share attributable to common

    shareholders:

Basic earnings per share

$             3.14

$             0.43

$             4.36

$             0.79

Diluted earnings per share

$             3.06

$             0.43

$             4.25

$             0.78

Basic earnings (loss) per share from continuing operations

$            (0.28)

$             0.05

$             0.35

$            (0.10)

Diluted earnings (loss) per share from continuing operations  

$            (0.28)

$             0.05

$             0.34

$            (0.10)

Weighted average number of shares (millions):

Basic

124.6

123.5

124.2

123.0

Diluted

128.0

124.6

127.4

124.3

(i)   2024 amounts have been restated to exclude discontinued operations related to the pork operations.

Consolidated Statements of Other Comprehensive
Income (Loss)

(In thousands of Canadian dollars)

Three months ended December 31, 

Twelve months ended December 31, 

2025

2024(i) 

2025

2024(i)

(Unaudited) 

(Unaudited) 

(Audited) 

(Audited) 

Earnings

$     391,233

$       53,536

$     541,630

$       96,599

Other comprehensive (loss) income

Actuarial gain (loss) that will not be reclassified to
   profit or loss (Net of tax of $1.6 million and $0.1
   million; 2024: $2.4 million and $0.6 million)

$       (4,248)

$       (6,885)

$           (378)

$         1,908

Change in revaluation surplus (Net of tax of $1.2
   million and $1.2 million; 2024: $0.0 million and
   $0.0 million)

3,263

—

3,263

—

Share of other comprehensive income of
   associates (Net of tax of $0.0 million and $0.0

   million; 2024: $0.0 million and $0.0 million)

115

—

115

—

Total items that will not be reclassified to profit or loss

$           (870)

$       (6,885)

$         3,000

$         1,908

Items that are or may be reclassified subsequently to
 profit or loss:

Change in fair value of investments (Net of tax of
   $0.0 million and $0.0 million; 2024: $0.0 million
   and $0.0 million)

$               —

$       (4,082)

$       (3,371)

$       (4,082)

Change in accumulated foreign currency translation
   adjustment (Net of tax of $0.0 million and $0.0
   million; 2024: $0.0 million and $0.0 million)

(4,711)

23,080

(17,686)

30,392

Change in foreign exchange on long-term debt
   designated as a net investment hedge (Net of tax
   of $0.5 million and $2.3 million; 2024: $3.3 million
   and $4.5 million)

3,244

(17,885)

12,658

(24,237)

Change in cash flow hedges (Net of tax of $0.2
   million and $0.4 million; 2024: $0.1 million and
   $0.2 million)

627

(47)

(1,247)

(3,763)

Share of other comprehensive income of associates
   (Net of tax of $0.0 million and $0.0 million; 2024:

   $0.0 million and $0.0 million)

40

$               —

40

$               —

Total items that are or may be reclassified

  subsequently to profit or loss

$           (800)

$         1,066

$        (9,606)

$        (1,690)

Other comprehensive (loss) income from continuing

  operations

$        (1,670)

$        (5,819)

$        (6,606)

$            218

Other comprehensive (loss) income from

  discontinued operations(i) (Net of tax of $0.0 million

  and $0.1 million; 2024: $0.5 million and $0.7 million)  

(4)

(1,599)

625

(2,145)

Total other comprehensive loss

$        (1,674)

$        (7,418)

$       (5,981)

$        (1,927)

Comprehensive income

$     389,559

$        46,118

$     535,649

$       94,672

(i)   2024 amounts have been restated to exclude discontinued operations related to the pork operations.

Consolidated Statements of Changes in Total Equity

Accumulated other comprehensive income (loss)

(In thousands of Canadian dollars)

Share 

capital 

Retained 

earnings 

Contributed 

surplus 

Foreign 
currency 
translation 
adjustment(i) 

Unrealized 
gains 
(losses) on 
cash flow 
hedges(i) 

Unrealized 
gains (losses) 
on fair value 
of 
investments(i) 

Revaluation 
surplus 

Treasury 

stock 

Total 

equity 

Balance at December 31, 2024

$  897,839

587,393

12,482

14,545

(1,257)

(6,641)

37,347

(3,431)

$ 1,538,277

Earnings

—

541,630

—

—

—

—

—

—

541,630

Other comprehensive income (loss)(ii)

—

(1,222)

—

(4,649)

(2)

(3,371)

3,263

—

(5,981)

Disposal of pork operations AOCI

—

—

—

1,619

110

—

—

—

1,729

Dividends declared ($1.51 per share)

10,261

(188,050)

—

—

—

—

—

—

(177,789)

Distribution of Canada Packers

—

(596,643)

—

—

—

—

—

—

(596,643)

Share-based compensation expense

—

—

23,419

—

—

—

—

—

23,419

Deferred taxes on share-based compensation  

—

—

4,275

—

—

—

—

—

4,275

Exercise of stock options

27,178

—

—

—

—

—

—

—

27,178

Shares purchased by RSU trust

—

—

—

—

—

—

—

(9,042)

(9,042)

Shares re-purchased

(4,867)

—

(14,071)

—

—

—

—

—

(18,938)

Settlement of share-based compensation

—

—

(14,155)

—

—

—

—

7,034

(7,121)

Balance at December 31, 2025

$  930,411

343,108

11,950

11,515

(1,149)

(10,012)

40,610

(5,439)

$ 1,320,994

Accumulated other comprehensive income (loss)

(In thousands of Canadian dollars)

Share 

capita l

Retained 

earnings 

Contributed 

surplus 

Foreign 
currency 
translation 
adjustment(i) 

Unrealized 
gains 
(losses) on 
cash flow 
hedges(i) 

Unrealized 
gains (losses) 
on fair value 
of 
investments(i) 

Revaluation 
surplus 

Treasury 

stock 

Total 

equity 

Balance at December 31, 2023

$  873,477

597,429

3,227

8,625

4,416

(2,559)

37,347

(7,183)

$ 1,514,779

Earnings

—

96,599

—

—

—

—

—

—

96,599

Other comprehensive income (loss)(ii)

—

1,908

—

5,920

(5,673)

(4,082)

—

—

(1,927)

Dividends declared ($0.88 per share)

21,864

(108,543)

—

—

—

—

—

—

(86,679)

Share-based compensation expense

—

—

21,910

—

—

—

—

—

21,910

Deferred taxes on share-based compensation

—

—

(1,325)

—

—

—

—

—

(1,325)

Exercise of stock options

2,498

—

—

—

—

—

—

—

2,498

Settlement of share-based compensation

—

—

(11,330)

—

—

—

—

3,752

(7,578)

Balance at December 31, 2024

$  897,839

587,393

12,482

14,545

(1,257)

(6,641)

37,347

(3,431)

$ 1,538,277

(i) 

Items that are or may be subsequently reclassified to profit or loss. 

(ii) 

Included in other comprehensive income (loss) is the change in actuarial gains and losses that will not be reclassified to profit or loss and has been reclassified to retained earnings.

Consolidated Statements of Cash Flows

(In thousands of Canadian dollars)

Three months ended December 31,

Twelve months ended December 31,

2025

2024

2025

2024

CASH PROVIDED BY (USED IN):

(Unaudited) 

(Unaudited) 

(Audited) 

(Audited) 

Operating activities

Earnings

$      391,233

$        53,536

$      541,630

$        96,599

Add (deduct) items not affecting cash:

Change in fair value of biological assets

—

(43,210)

(3,440)

(63,582)

Depreciation and amortization

48,187

64,883

234,926

265,173

Share-based compensation

5,215

4,296

23,419

21,910

Deferred income tax (recovery) expense

2,291

17,738

(37,577)

30,651

Current income tax expense

22,264

3,097

127,714

13,619

Interest expense and other financing costs

17,610

35,793

98,486

162,600

Gain on sale of long-term assets

(3,169)

(6,466)

(14,305)

(9,299)

Impairments

85,104

538

87,261

667

Change in fair value of long-term assets

5,932

10,707

5,932

5,669

Gain on buy-out of pension annuities

(35,530)

—

(35,530)

—

Gain on disposal of Canada Packers

(428,879)

—

(428,879)

—

Equity earnings of associate

(888)

—

(888)

—

Change in net pension obligation

(1,523)

1,953

1,164

5,063

Net income taxes (paid) refunded

3,595

31,197

(2,890)

75,712

Interest paid, net of capitalized interest

(17,979)

(34,926)

(97,337)

(148,925)

Change in provision for restructuring and other

    related costs

3,720

8,025

(5,226)

6,570

Change in derivatives margin

(797)

(2,764)

856

2,235

Cash settlement of derivatives

—

2,878

—

—

Other

926

(10,512)

(10,150)

(6,499)

Change in non-cash operating working capital  

16,293

19,141

(49,711)

6,757

Cash provided by operating activities

$      113,605

$      155,904

$      435,455

$      464,920

Investing activities

Additions to long-term assets

$      (48,443)

$      (29,205)

$    (125,296)

$      (95,489)

Interest paid and capitalized

(279)

(289)

(1,008)

(1,128)

Proceeds from sale of long-term assets

5,612

8,433

21,616

14,081

Dividends from associate

1,094

—

1,094

—

Other

(16,056)

—

(16,056)

—

Cash used in investing activities

$      (58,072)

$      (21,061)

$    (119,650)

$      (82,536)

Financing activities

Dividends paid

$      (96,511)

$      (21,803)

$    (177,789)

$      (86,679)

Net decrease in long-term debt

27,740

(110,893)

(102,593)

(290,981)

Payment of lease obligation

(3,463)

(8,026)

(28,336)

(32,353)

Exercise of stock options

939

—

27,178

2,498

Purchase of treasury shares

(4,948)

—

(9,042)

—

Payment of financing fees

(5,958)

—

(6,506)

(2,324)

Repurchase of shares

(10,002)

—

(18,938)

—

Disposal of pork operations

(32,278)

—

(32,278)

—

Cash used in financing activities

$    (124,481)

$    (140,722)

$    (348,304)

$    (409,839)

Decrease in cash and cash equivalents

$      (68,948)

$        (5,879)

$      (32,499)

$      (27,455)

Cash and cash equivalents, beginning of period

212,357

181,787

175,908

203,363

Cash and cash equivalents, end of period

$      143,409

$      175,908

$      143,409

$      175,908

SOURCE Maple Leaf Foods Inc.

Toronto, Ontario--(Newsfile Corp. - March 5, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada, is pleased to announce that iQ Food Co. ("iQ") has secured a real estate location for its first restaurant in Western Canada, located in Calgary, Alberta. With the signing of this lease, it marks the 1st location expansion outside of Ontario for the brand, so it is a significant milestone in iQ's national expansion strategy and supports the Company's continued execution against its organic growth pipeline. iQ is a premium healthy-eating quick service restaurant ("QSR") concept known for its vibrant menu of nourishing, clean-eating dishes including healthy bowls, smoothies, sandwiches, soups, and salads, crafted to satisfy a wide range of tastes and lifestyles.

Happy Belly 1

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"Securing our first Western Canada location marks an important step in our national expansion plan for iQ and for Happy Belly," said Sean Black, Chief Executive Officer of Happy Belly Food Group. "Calgary is a compelling, health-forward market with strong customer fundamentals which is an ideal fit for iQ's positioning. This location reflects our disciplined approach to expansion by prioritizing high-quality real estate that supports consistent daily demand and attractive unit economics."

"The momentum behind iQ continues to validate both the strength of the concept and our execution. At the time of acquisition in Q3 2024, iQ operated four locations. We have since grown our footprint to 7 opened locations, with number 8 opening in Q2 2026, so Calgary will be our 9th location in Canada. With Area Development Agreements across Alberta, Ontario, and British Columbia totaling 65 committed units, we are building the foundation to scale iQ into a nationally recognized brand and drive sustained expansion in Canada's most attractive urban markets."

Happy Belly 2

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"Our focus remains on accelerating growth through organic development and targeted acquisitions. With a growing pipeline of restaurants across Canada, iQ continues to strengthen Happy Belly's broader portfolio of 666 contractually committed retail franchise locations across multiple emerging brands, spanning various stages of development, construction, and operation. Our disciplined, predictable growth engine is delivering measurable results as we expand our brands across Canada and the U.S., creating long-term value for shareholders."

"We are just getting started," added Sean Black.

About iQ Food Co.
iQ is a flagship brand in Canada's premium healthy eating market and is strategically located in urban and central business districts. iQ serves a variety of delicious and wholesome food options such as healthy bowls, smoothies, sandwiches, soups, and salads, along with other flavorful clean-eating dishes that the whole family can enjoy. iQ caters to thousands of health-conscious customers from local businesses, while expanding into catering services to service an even greater audience in downtown densely populated areas. This strategy has fostered strong brand recognition and a loyal customer base driven by word-of-mouth and, most importantly, satisfied customers.

Franchising
For franchising inquiries, please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands. The Company's portfolio includes Heal Wellness, Rosie's Burgers, Yolks Breakfast, Via Cibo Italian Street Food, iQ Food Co., and others.

Happy Belly 3

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Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, Chief Operating Officer

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286348

Source: Happy Belly Food Group Inc.

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PHILADELPHIA, March 05, 2026 (GLOBE NEWSWIRE) -- Kaskela Law LLC is investigating the recently announced buyout of Clearwater Analytics Holdings, Inc. (NYSE: CWAN) (“Clearwater”) shareholders to determine whether the $24.55 per share buyout offer is fair to the company’s investors or if it undervalues the company’s shares.

Click here for additional information: https://kaskelalaw.com/case/clearwater-analytics-buyout/

On December 21, 2025, Clearwater announced that it had agreed to be acquired by a group of private equity funds at a price of $24.55 per share in cash. Following the closing of the proposed transaction the company’s shares will no longer be publicly traded.

The investigation seeks to determine whether Clearwater investors will be receiving sufficient financial consideration for their CWAN shares, or if the proposed buyout price is inadequately low. Notably, at the time the buyout transaction was announced, several stock analysts were maintaining price targets of over $35.00 per share for Clearwater shares – 40% higher than the buyout proposal.

Clearwater investors who would like to learn more about the investigation and their legal rights and options are encouraged to contact lead investigative attorney Adrienne Bell, Esq. at (484) 229 – 0750 or by email at [email protected]. You can also click on the following link or paste it into your browser to learn more:

https://kaskelalaw.com/case/clearwater-analytics-buyout/

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation in contingent litigation. For additional information about Kaskela Law LLC, including the firm's recent notable recoveries for investors, please visit www.kaskelalaw.com.

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 - 0750
www.kaskelalaw.com
This communication may constitute attorney advertising in certain jurisdictions.

Zepbound® (tirzepatide) KwikPen® for single-patient use available from Lilly at $449 across all doses through the Lilly Employer Connect platform, with reduced cost-share pricing available to employees

Flexible benefit designs expand access to obesity treatment while aligning with employer needs and budgets

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced the launch of its Employer Connect platform, introducing new options to help close the access gap in U.S. obesity care. Lilly's platform expands choice, empowering employers to coordinate with independent program administrators to develop flexible, transparent solutions that enable employee access to obesity management medicines.

Obesity affects over 100 million American adults and costs the U.S. economy more than $1.7 trillion annually—including $480 billion in direct medical costs and $1.24 trillion in lost productivity.1 Although obesity is a chronic disease, coverage for obesity management medications remains inconsistent across employer-sponsored plans, leaving roughly half of commercially insured employees without covered access.2

"For far too many people living with obesity, starting or staying on treatment isn't just a medical decision, it's an access decision driven by coverage and cost," said Ilya Yuffa, executive vice president and president, Lilly USA and Global Customer Capabilities, Eli Lilly and Company. "To address these challenges, we're building an employer program that connects employers to a range of independent program administrators and cost-sharing solutions—from those providing holistic obesity management to those focused on benefits administration—so their employees can access prescribed treatment at reduced out-of-pocket costs."

Scaling Access Through Independent Program Administrators

Lilly's employer access program is launching with over fifteen independent program administrators and nationwide pharmacy support delivered through a dedicated network, including dispensing pharmacies HealthDyne and CenterWell. These administrators range from organizations offering low-cost benefits administration to more holistic solutions that provide comprehensive obesity care and wraparound support services. This breadth of offerings allows employers to design programs tailored to their needs, while preserving both provider and patient choice.

"By enabling coverage outside traditional benefit designs, we lower barriers to treatment and give employers greater control over how they support employee access to obesity care," said Kevin Hern, senior vice president, Lilly Employer, Eli Lilly and Company. "This innovation can help employees access authentic obesity management medicines with more affordable out-of-pocket costs."

Lowering Cost Barriers to Obesity Care for Employees

Lilly Employer Connect is designed to expand access to obesity care by lowering cost barriers for employees while giving employers greater cost predictability and transparency. Lilly's pricing model helps operationalize this for employers, enabling access for patients. From in-person or virtual clinical care to behavior-change support, employers can pair medication access with a range of services that fit their workforce needs.

Through this employer platform, Lilly's Zepbound® (tirzepatide) KwikPen® is available from Lilly to network pharmacies at a discounted price of $449 for all doses. Final cost to the employer may vary based on their choice of pharmacy and program administrator; and out-of-pocket patient costs for employees will vary based on the costshare model an employer chooses and the dispensing and service fees agreed to with independent program administrators. Fundamentally, this approach provides employees access to obesity management medicines at lower out-of-pocket costs, and gives employers greater choice and clarity, along with the ability to expand coverage in a way that aligns with their benefits strategy and budget.

Lilly will continue to grow the program administrator options for employers on the platform, which already includes 9amHealth, Andel, Calibrate Health, Crux Health, eMed, FlyteHealth, Form Health, Goodpath, GoodRx, Ilant Health, Mark Cuban Cost Plus Drug Company, Onsera Health, ReviveHealth, SALTA Direct Primary Care, Sesame, Teladoc Health, Transcarent and Waltz Health. Employers, benefit consultants, or other stakeholders interested in learning more about the program should contact [email protected].

Enabling Access to One of the Most Prescribed Obesity Management Medications

As part of Lilly's employer platform, Zepbound® KwikPen® is available to eligible employees, offering access to one of the most prescribed weight management medications in the U.S. The U.S. Food and Drug Administration (FDA) recently approved the single-patient use Zepbound KwikPen, which delivers four weekly injections from a single device. Zepbound was the most prescribed weight management medication in 2025.³ The demand for Zepbound highlights its strong efficacy profile.

Zepbound is an injectable prescription medicine that may help adults with obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off. Zepbound may also help adults with moderate-to-severe obstructive sleep apnea (OSA) and obesity to improve their OSA. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known whether Zepbound is safe and effective for use in children.

Zepbound is available in 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, or 15 mg doses. The 2.5 mg is a starting dose and not an approved maintenance dose. The recommended maintenance doses are 5 mg, 10 mg, or 15 mg injected subcutaneously once per week for weight reduction and long-term maintenance. The recommended maintenance doses are 10 mg or 15 mg for OSA.

In the SURMOUNT-1 trial, adults taking Zepbound 15 mg lost an average of 20.9% of their body weight over 72 weeks, compared to 3.1% with placebo. In the SURMOUNT-5 open-label study, people who took Zepbound on average lost 50 lbs (20.2% weight loss) compared to people who took injectable Wegovy and on average lost 33 lbs (13.7% weight loss). See additional data below. To learn more about Zepbound and KwikPen, visit Lilly.com/lillydirect/medicines/zepbound?device=kwikpen.

Individual results vary. Zepbound is not for cosmetic weight loss. Zepbound may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing or shortness of breath. If you have any of these symptoms, tell your health care provider. Do not use Zepbound if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Zepbound if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Zepbound if you have had a serious allergic reaction to tirzepatide or any of the ingredients in Zepbound.

About Zepbound (tirzepatide) injection
Zepbound is the first and only dual GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist obesity medication. Zepbound tackles an underlying cause of excess weight. It reduces appetite and how much you eat. Zepbound is indicated for adults with obesity, or some adults who are overweight and also have at least one weight-related medical problem, to lose weight and keep it off. Additionally, Zepbound is FDA-approved to treat adults with moderate-to-severe obstructive sleep apnea and obesity. Zepbound should be used with a reduced-calorie diet and increased physical activity. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known if Zepbound is safe and effective for use in children.

About SURMOUNT-1
Throughout the 72 week clinical trial, people who took Zepbound sustained weight loss—whether taking the 5 mg, 10 mg, or 15 mg dose along with diet and exercise. In a 72-week study of adults without diabetes, average weight loss was 15.0% (34 lbs) for 5 mg, 19.5% (44 lbs) for 10 mg, 20.9% (48 lbs) for 15 mg, and 3.1% (7 lbs) for placebo. Average starting weights were 226.8 lbs for 5 mg, 233.3 lbs for 10 mg, 232.8 lbs for 15 mg, and 231.0 lbs for placebo.

About SURMOUNT-5
SURMOUNT-5 was a 72-week, multi-center, randomized, open-label, Phase 3b trial evaluating the efficacy and safety of Zepbound (tirzepatide) compared with injectable Wegovy (semaglutide) in adults with obesity, or overweight with at least one of the following comorbidities: hypertension, dyslipidemia, obstructive sleep apnea (OSA) or cardiovascular disease, who did not have diabetes. Data collected in a less rigorous study so findings are less certain. Factors beyond studied medications may have contributed to weight loss. In the 72-week study participants on Zepbound Maximum Tolerated Dose (MTD) (10 mg or 15 mg, the max dose a participant could tolerate) experienced on average a 20.2% (50 Ibs) weight loss compared to an average of 13.7% (33 Ibs) weight loss for participants on Wegovy MTD (1.7 mg or 2.4 mg, the max dose a participant could tolerate). Average starting weights were 248.4 lbs for Zepbound MTD and 250 lbs for Wegovy MTD. Wegovy® is a registered trademark of Novo Nordisk A/S.

INDICATIONS AND SAFETY SUMMARY WITH WARNINGS
Zepbound® (ZEHP-bownd) is an injectable prescription medicine used with a reduced-calorie diet and increased physical activity to help adults with:

obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off. moderate-to-severe obstructive sleep apnea (OSA) and obesity to improve their OSA. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known if Zepbound is safe and effective for use in children.

Warnings - Zepbound may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Zepbound if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Zepbound if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Zepbound if you have had a serious allergic reaction to tirzepatide or any of the ingredients in Zepbound. KwikPen®: Do not share your KwikPen with other people, even if the pen needle has been changed. You may give other people a serious infection or get a serious infection from them.

Zepbound may cause serious side effects, including:

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Zepbound. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration.

Gallbladder problems. Gallbladder problems have happened in some people who use Zepbound. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), or clay-colored stools.

Inflammation of the pancreas (pancreatitis). Stop using Zepbound and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without vomiting. You may feel the pain from your abdomen to your back.

Serious allergic reactions. Stop using Zepbound and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, or very rapid heartbeat.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Zepbound with medicines that can cause low blood sugar, such as a sulfonylurea or insulin. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, mood changes, hunger, weakness or feeling jittery.

Changes in vision in patients with type 2 diabetes. Tell your healthcare provider if you have changes in vision during treatment with Zepbound.

Depression or thoughts of suicide. You should pay attention to changes in your mood, behaviors, feelings or thoughts. Call your healthcare provider right away if you have any mental changes that are new, worse, or worry you.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Zepbound may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Zepbound before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Zepbound include nausea, diarrhea, vomiting, constipation, stomach (abdominal) pain, indigestion, injection site reactions, feeling tired, allergic reactions, belching, hair loss, and heartburn. These are not all the possible side effects of Zepbound. Talk to your healthcare provider about any side effect that bothers you or doesn't go away.

Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before using Zepbound

Your healthcare provider should show you how to use Zepbound before you use it for the first time. Talk to your healthcare provider about low blood sugar and how to manage it. Tell your healthcare provider if you are taking medicines to treat diabetes including an insulin or sulfonylurea. If you take birth control pills by mouth, talk to your healthcare provider before you use Zepbound. Birth control pills may not work as well while using Zepbound. Your healthcare provider may recommend another type of birth control for 4 weeks after you start Zepbound and for 4 weeks after each increase in your dose of Zepbound. Review these questions with your healthcare provider:

❑ Do you have other medical conditions, including problems with your pancreas, or severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?

❑ Do you take diabetes medicines, such as insulin or sulfonylureas?

❑ Do you have a history of diabetic retinopathy?

❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?

❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?

❑ Are you pregnant, plan to become pregnant, breastfeeding, or plan to breastfeed? Zepbound may harm your unborn baby. Tell your healthcare provider if you become pregnant while using Zepbound. Zepbound may pass into your breast milk. You should talk with your healthcare provider about the best way to feed your baby while using Zepbound.

Pregnancy Exposure Registry: There will be a pregnancy exposure registry for women who have taken Zepbound during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. Talk to your healthcare provider about how you can take part in this registry, or you may contact Lilly at 1-800-LillyRx (1-800-545-5979). How to take

Read the Instructions for Use that come with Zepbound. Use Zepbound exactly as your healthcare provider says. Use Zepbound with a reduced-calorie diet and increased physical activity. Inject Zepbound under the skin (subcutaneously) of your stomach (abdomen), thigh, or have another person inject in the back of the upper arm. Do not inject ZEPBOUND into a muscle (intramuscularly) or vein (intravenously). Use Zepbound 1 time each week, at any time of the day. Change (rotate) your injection site with each weekly injection. Do not use the same site for each injection. If you take too much Zepbound, call your healthcare provider, call the Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away.

Zepbound is approved as a 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, and 15 mg injection.

Learn more
Zepbound is a prescription medicine. For more information, call 1-800-LillyRx (1-800-545-5979) or go to www.zepbound.lilly.com.

This summary provides basic information about Zepbound but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Zepbound and how to take it. Your healthcare provider is the best person to help you decide if Zepbound is right for you.

ZP CON BS Q12026

Zepbound®, its delivery device base and KwikPen® are registered trademarks owned or licensed by Eli Lilly and Company, its subsidiaries, or affiliates.

Endnotes and References

Milken Inst Waters H et al America Obesity Crisis Oct 2018. International Foundation of Employee Benefit Plans. Pulse Survey: GLP-1 Drugs Coverage. Published 2024. Accessed November 5, 2025. https://www.ifebp.org/docs/default-source/pdf/resources---news/pulse-surveys/survey-glp-drugs-2024.pdf  Based on IQVIA® National Prescription Audit Data, representing 94% of US prescription data as of 01/10/2025. About Lilly 
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for nearly 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are references in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

Cautionary Statement Regarding Forward-Looking Statements 
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995), including statements about the supply and access of Zepbound (tirzepatide) as a treatment for adults with obesity or overweight and reflects Lilly's current belief and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development, and commercialization. Among other things, there can be no guarantee that future study results will be consistent with the results to date, that Zepbound will receive additional regulatory approvals, or that Lilly will execute its strategy as planned. For further discussion of these and other risks and uncertainties, see Lilly's most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

CMAT-13769 3/2026 ©Lilly USA, LLC 2026. All rights reserved.

SOURCE Eli Lilly and Company

, /PRNewswire/ -- Hyperscale Data, Inc. (NYSE American: GPUS), an artificial intelligence ("AI") data center company anchored by Bitcoin ("Hyperscale Data" or the "Company"), today announced that its indirectly wholly owned subsidiary askROI, Inc. ("askROI"), has deployed Claude Opus 4.6, Anthropic's frontier large language model, which is now accessible through the askROI platform (the "Platform"). The Platform previously used an older version of a large language model developed by Anthropic.

The integration significantly enhances the Platform's reasoning depth, contextual comprehension and multi-step analytical performance, which is anticipated to enable users to obtain more precise answers, automate complex workflows, and deploy more intelligent AI agents across business operations.

With Opus 4.6 now included, askROI has expanded the Platform's model architecture to ensure that users benefit from the most advanced AI systems available while maintaining flexibility, speed and enterprise-grade scalability. The deployment of Opus 4.6 strengthens the Platform's ability to handle high-complexity enterprise tasks, including:

Multi-document financial and operational analysis; AI-driven investor and stakeholder communications; Automated diligence and underwriting support; Customer relationship management and sales pipeline intelligence; Long-form research synthesis and reporting; and Advanced coding, modeling and technical workflows. The Platform's expanded reasoning and contextual retention capabilities allow askROI to process large data environments with greater coherence and accuracy, particularly in use cases requiring sustained analytical depth. Opus 4.6 will also serve as a core intelligence layer behind the Platform's growing AI agent framework including voice agents, customer interaction systems and enterprise automation tools.

By combining proprietary data aggregation with Opus 4.6's frontier model reasoning, AI agents created on the Platform can interpret structured and unstructured enterprise data, execute multi-step decision workflows, provide real-time operational recommendations and automate customer and internal communications. This positions the Platform as more than a conversational interface; it provides an evolution into a full AI operating layer for business intelligence and automation.

"The deployment of Opus 4.6 represents a meaningful step forward in our mission to deliver the most powerful AI insight platform in the market," said Ryan Doucette, Head of Product at askROI. "As frontier models continue to advance, our strategy is to integrate best-in-class intelligence into the Platform so our users benefit from deeper reasoning, more accurate outputs and the ability to automate increasingly complex business processes. The addition of Opus 4.6 reflects askROI's commitment to remaining at the forefront of applied AI infrastructure while delivering practical business outcomes. This is about turning AI into measurable productivity and decision advantage for our customers."

The Platform's architecture is designed to remain model-agnostic enabling the platform to deploy and optimize multiple leading AI systems as they evolve. In addition to Opus 4.6, askROI supports a broad range of leading large language models across writing, reasoning, coding, and analytical tasks. These include models from the GPT, Gemini, Qwen, Grok and other frontier and open-model families, allowing users to select the best model for each use case based on performance, efficiency, and response characteristics.

For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data's public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

About Hyperscale Data, Inc.

Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data's other wholly owned subsidiary, Ault Capital Group, Inc. ("ACG"), is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

Hyperscale Data currently expects the divestiture of ACG (the "Divestiture") to occur in the fourth quarter of 2026. Upon the occurrence of the Divestiture, the Company would be an owner and operator of data centers to support high-performance computing services, as well as a holder of the digital assets. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data's headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the "Series F Preferred Stock") to all common stockholders and holders of the Series C Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the "ACG Shares"). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be shareholders of ACG upon the occurrence of the Divestiture.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company's business and financial results are included in the Company's filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company's website at hyperscaledata.com.

SOURCE Hyperscale Data Inc.

PHILADELPHIA, March 05, 2026 (GLOBE NEWSWIRE) -- Kaskela Law LLC has launched an investigation into the fairness of the recently announced proposed buyout of Enhabit, Inc. (NYSE: EHAB) shareholders to determine whether the $13.80 per share buyout price undervalues the company’s shares. 

Click here to request additional information: https://kaskelalaw.com/case/enhabit/

On February 23, 2026, Enhabit announced that it had agreed to be acquired by private equity firm Kinderhook Industries at a price of $13.80 per share in cash. Following the closing of the proposed transaction, Enhabit’s shareholders will be cashed out of their investment position and the company's shares will no longer be publicly traded.

The investigation seeks to determine whether Enhabit investors will be receiving sufficient financial consideration for their shares, and whether the company's officers and/or directors breached their fiduciary duties or violated the securities laws in agreeing to the proposed buyout.

Enhabit shareholders who believe the buyout price is too low are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) for additional information about this investigation and their legal rights and options at (484) 229 – 0750. Alternatively, investors may contact the firm via email at [email protected], or by clicking on the following link (or if necessary, by copying and pasting the link into your browser): 

https://kaskelalaw.com/case/enhabit/

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation in contingent litigation. For additional information about Kaskela Law LLC, including the firm's recent notable recoveries for investors, please visit www.kaskelalaw.com.

CONTACT: 

KASKELA LAW LLC 
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 - 0750
www.kaskelalaw.com.

This communication may constitute attorney advertising in certain jurisdictions.

Eli Lilly on Thursday launched a new program designed to help more employers cover obesity drugs in the U.S., targeting a major barrier to access for patients. 

Lilly and its chief rival, Novo Nordisk, have moved to slash the cash prices of their popular obesity injections for those who want to pay entirely out-of-pocket. But employer coverage of obesity drugs remains uneven due to high costs, leaving roughly half of people with commercial insurance unable to start or stay on treatment, Lilly said in a release. List prices for Lilly's weight loss and diabetes treatments, Zepbound and Mounjaro, top $1,000 per month.

Nearly one-fifth of firms with over 200 workers, including 43% with 5,000 or more workers, said they cover GLP-1 drugs for weight loss as of October, according to a survey by the Peterson-KFF Health System Tracker.

"I think we'll learn in the coming months ahead, if this is a solution that maybe enables some employers who have been sitting on the sidelines to opt into obesity coverage for their employees," Kevin Hern, senior vice president of Lilly Employer, said in an interview. He added that some employers could opt to add coverage in the upcoming months, while others could wait until 2027.

Eli Lilly's new "Employer Connect" platform gives employers more flexibility in how they cover obesity treatments, aiming to broaden employee access to the drugs at low out-of-pocket costs, while also limiting expenses for companies. Hern said the program addresses some of the "core tensions" for employers when considering coverage of obesity drugs, including transparency around drug prices, flexibility in benefits design and the ability to choose among independent administrators.

Through the program, employers can pay a net discounted price of $449 per month for a new multi-dose form of Zepbound across all doses, Hern said. He added that the arrangement does not involve rebates, and that the net price gives employers clearer visibility to determine whether they can offer the drug.

Instead of relying on traditional benefit designs, employers can use Lilly's platform to connect with more than a dozen different third-party program administrators that help manage obesity treatment benefits and costs. 

"Every employer is different. They all want to design things according to their unique needs and workforce," Hern said.

Employers can choose among the 15 administrators to design benefits that fit their budget and workers' needs. Some of the administrators may focus on administering the obesity benefits to employees, dealing with core functions such as enrollment, eligibility, claims and more. Other administrators may specialize in comprehensive obesity management, offering telehealth, nutrition and lifestyle support for patients. 

Lilly plans to expand the number of program administrators on the platform, which already include GoodRx, Mark Cuban's Cost Plus Drug Company, Sesame, Teladoc Health, 9amHealth, Andel, Calibrate Health, Crux Health, eMed, FlyteHealth, Form Health, Goodpath, Ilant Health, Onsera Health, ReviveHealth, SALTA Direct Primary Care, Transcarent and Waltz Health.

"Our goal was to kind of create a platform where these firms could compete ... with the value of their services for the employers," Hern said. All of the administrators are offering the same medicine at the same price, so employers will determine "who can provide me the best service in terms of administering this program as I define that."

Those with government insurance could also see easier access to obesity drugs: Under landmark deals that Lilly and Novo struck with President Donald Trump, Medicare will cover those medicines for the very first time later this year. 

CHONGQING, CHINA - AUGUST 7: In this photo illustration, a smartphone displays the logo of The Trade Desk, Inc. (NASDAQ: TTD), a global technology company specializing in programmatic advertising, in front of a screen showing the company's latest stock market chart on August 7, 2025 in Chongqing, China. (Photo illustration by Cheng Xin/Getty Images)

Getty Images

The Trade Desk stock (NYSE: TTD) has decreased by 63% over the past twelve months and 33% just in 2026. This significant downturn requires an explanation — as well as a candid evaluation of whether the punishment is warranted.

What went wrong?

Two factors.

The revenue growth consistently slowed from 25.4% in Q1 2025 to 14.3% in Q4 2025. For a stock that previously commanded a premium due to expected growth of over 25%, this adjustment was damaging.Investors are increasingly concerned about Amazon's expanding DSP, which utilizes its extensive first-party shopper data to attract advertisers away from independent platforms like TTD.Both concerns are valid.

However, here is the crucial difference: decelerating growth does not equate to deteriorating fundamentals. The business continues to expand, remains highly profitable, and is financially robust. The crucial question is whether the stock has already factored in the negative news — and then some. We believe it has.

But before we explore the details, if you are looking for upside with less volatility than holding an individual stock like TTD, consider the High Quality Portfolio. It has consistently outperformed its benchmark—a mix of the S&P 500, Russell, and S&P MidCap indexes—and has delivered returns exceeding 105% since its inception. Why is this the case? As a collection, HQ Portfolio stocks have generated better returns with less risk compared to the benchmark index; a more stable experience, as shown in HQ Portfolio performance metrics.

Is The Valuation Finally Reasonable?Close to it, and in some respects even better. On a price-to-sales basis, TTD at 4.8x remains above the S&P 500's 3.3x — but TTD is increasing revenues at approximately 3-4 times the market's rate, justifying the premium. More significantly, on a price-to-free-cash-flow basis, TTD at 19.8x is actually less expensive than the S&P 500 at 21.2x. For a high-quality, cash-generating business, this indicates that multiple compression has largely run its course.

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Is The Growth Story Really Over?No. While it's true that growth has decelerated — it is from an exceptional starting point. In the past twelve months, The Trade Desk's revenues increased by 20.8% from $2.3B to $2.8B. The latest quarter's revenue was $739M, reflecting a 17.7% year-over-year increase. The three-year average annual growth rate stands at 23.5%. All of this is happening at approximately 3 times the pace of the S&P 500. A business that grows at an annual rate of 17-20% should not experience a 63% decline unless one believes that growth is fading to zero. The data do not substantiate that perspective.

What About Profitability?This is where TTD truly excels. Operating cash flow margin is at 31.6% — over 10 percentage points higher than the S&P 500 average of 20.8%. Net income margin is 15.7% compared to the market's 12.9%. These figures are not superficial metrics — they indicate a platform business with significant operating leverage that converts about a third of every revenue dollar into cash. Such a profitability profile tends to be resilient even when top-line growth slows.

Is The Balance Sheet A Concern?Not in the slightest. TTD holds $376M in debt against $1.4B in cash — a net cash position. Its debt-to-equity ratio is merely 2.8%, compared to 20.2% for the S&P 500. The company is not on the brink of a financing crisis due to a poor quarter. It has the bandwidth to invest through a downturn, manage competitive pressures, and seek new opportunities.

What About The OpenAI Partnership?On March 4, news surfaced that OpenAI is contemplating a partnership with TTD to enhance its AI-driven advertising capabilities. The stock rose 9% in after-hours trading. The rationale is logical: OpenAI needs to monetize its vast user base, and TTD has spent years developing the programmatic infrastructure to facilitate that. If OpenAI is building an advertising business, collaborating with a specialist is preferable to starting from scratch. For TTD, this opens a new demand channel that is entirely distinct from the traditional programmatic market where Amazon is a player.

This has not yet been confirmed as a finalized deal — investors should not assume it as certain. Nonetheless, even as a possibility, it denotes significant potential that was not reflected in the stock price prior to today.

What Could Go Wrong?Quite a bit. TTD has historically suffered much more than the market during downturns — plummeting 64% during the 2022 inflation crisis in contrast to the S&P 500's 25%, and falling 54% during COVID compared to the market's 34%. High beta has its downsides. If growth slows further, if Amazon gains more DSP share, or if the broader market declines, TTD shareholders will feel that impact acutely. The positive aspect: in both prior crashes, the stock made a full recovery.

What Does Wall Street Think?38 out of 42 analysts tracking TTD (WSJ) hold a Buy, Overweight, or Hold rating. The consensus price target of $32 suggests more than 25% upside from current prices, before any potential benefit from an OpenAI partnership. Only 4 analysts are underweight or recommend selling. The professional investment community has not turned its back on this stock.

The Bottom LineTTD is a fundamentally strong company — growing at 3-4 times the market rate, generating outstanding cash flows, and maintaining a net cash position — that has been sold off by 63% simply because its growth has slowed from exceptional to merely very good. This presents a disconnect between price and reality, where investment opportunities typically arise.

We may be mistaken. Investors might continue to penalize TTD for its slowing growth and increasing competition, and the OpenAI partnership could fail to materialize. However, multiple compression seems to have largely played out, the risk-reward profile appears attractive, and a new growth catalyst is now on the horizon. For investors with an appropriate risk appetite, the case for acquiring TTD at this point is strong.

Portfolios Win When Stock Picks Fall ShortStocks rise and fall – the key is to remain invested. A diversified portfolio enables you to withstand market volatility, enhances gains, and mitigates the risks of individual stocks. Consistently outperforming the market is challenging, yet the Trefis High Quality (HQ) Portfolio makes it seem attainable. By selecting 30 highly-convicted stocks, the HQ strategy has historically outperformed the S&P 500, S&P Mid-cap, and Russell 2000. Discover how this carefully selected group achieves superior risk-adjusted returns in our detailed performance factsheet.

Target to open more than 30 new stores in 2026, with the first seven opening this March

Retailer's 2,000th store to open in Fuquay-Varina, N.C., featuring Target's open-layout design that delivers an elevated guest experience 

, /PRNewswire/ -- Target Corporation (NYSE: TGT) today announced plans to open more than 30 new stores in 2026, including its 2,000th location in Fuquay-Varina, N.C. The openings are part of a new chapter in the company's strategy to drive long-term, sustainable growth by investing in stores. This includes plans to add more than 300 new stores by 2035, with seven locations welcoming guests this March as part of the company's continued expansion.

Target's new stores and remodels are supported by its $5 billion capital investment plan for 2026 — reflecting its commitment to deliver a more consistent, elevated shopping experience, while leveraging technology to fulfill online orders faster and easier for guests. This comes alongside an investment of hundreds of millions of dollars in additional store payroll and training to improve guest service in 2026.  

These investments help Target deliver against the growth priorities laid out by CEO Michael Fiddelke that will guide the retailer's decision-making in 2026 and beyond.

"Guests tell us all the time they want a Target closer to home, and this investment helps us do exactly that," said Adrienne Costanzo, chief stores officer, Target. "That means even more neighborhoods will get the full Target experience: trend-forward style and value, technology that makes the trip effortless and awesome teams who deliver easy, inspiring and friendly moments every single day."

About Target's 2,000th store

The 148,000-square-foot North Carolina store, located near Raleigh, represents the future of Target's elevated guest experience with its open, easily navigable layout, convenient same-day services and winning team delivering a more relaxed and enjoyable shopping visit. In fact, 92% of shoppers at Target's newest store format are highly satisfied with the overall experience, according to guest surveys.

The Fuquay-Varina store is Target's latest food-forward prototype, with a food and beverage department that is 30% larger than the chain average, offering an extensive selection of guest-favorite owned and national brands. For added convenience, the store will feature same-day services including Drive Up with 24 pickup lanes, Order Pickup and same-day delivery, along with next-day delivery options throughout the Raleigh market. With a CVS Pharmacy, Starbucks Cafe and Disney Shop at Target, the store will deliver a true one-stop shopping experience. It will be Target's 55th store in North Carolina, where the retailer also operates a regional distribution center and has had a presence since 1995. Last year, Target donated $8.9 million in community giving across the state — part of the company's commitment to giving 5% of profits to communities*. Target team members also volunteered more than 25,000 hours with North Carolina nonprofits in 2025. Accelerating store investment progress 

Six other new Target stores open this March in Bakersfield and Delano, California; Springfield, Missouri; Jersey City and West Orange, New Jersey; and Dallas, Texas. They are among more than 30 new stores Target is opening this year, and more than 130 remodels. Next-day delivery will also launch in more than 20 new metro areas including Indianapolis, Memphis, Tenn., and Cincinnati, reaching 60% of the U.S. population. 

Like the Fuquay-Varina store, each new location is bringing the best of Target: an easy, inspiring and friendly experience that keeps guests coming back, whether they're stopping in, picking up or shopping digitally. The retailer is also making a commitment to the neighborhoods it calls home.

"Every time we open a new Target store, we're planting roots in that community," Costanzo said. "That means in addition to delivering a better shopping experience that's faster and more reliable, we're creating growth and opportunity — through good jobs, support for local nonprofits and long-term economic investment in the neighborhoods we serve. When our teams and communities thrive, so do we."

About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 2,000 stores and at Target.com, with the purpose of helping all families discover the joy of everyday life. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Additional company information can be found by visiting the corporate website and press center and by following @TargetNews.

* Since 1946, we have given 5% of our profits to communities in products, cash and through the Target Foundation, which today equals millions of dollars a week. Calculated based on the average of the prior three years of Target's pre-tax profits. Giving includes Target's product and cash donations and Target Foundation's cash donations. Excludes cash donations from Target to Target Foundation.

SOURCE Target Corporation

Solana Price Registers 14% Rally – What Helped SOL End Its 4-Week Consolidation? Prefer us on Google

Solana rallies 14%, breaking consolidation range, driven by investor support and demand.Daily new addresses on Solana rise 17%, indicating growing network engagement and interest.Whale dominance drops slightly, but smaller investors help stabilize Solana’s bullish momentum.Solana (SOL) has seen a significant 14% price rally over the last 24 hours, breaking out from a month-long consolidation range. This breakout has reignited the bullish sentiment for the altcoin, largely driven by growing investor support. 

Solana’s price is currently trading above the $88 support level, with the rally showing signs of continued strength.

Investors Turn To SolanaA positive trend for Solana is the increase in new addresses on the network. Over the past two weeks, daily new addresses on the Solana network have grown by 17%, rising from 7.42 million to 8.7 million. 

This spike indicates a rising demand for SOL, as new addresses are crucial for driving fresh capital into the market. As more users engage with Solana, the cryptocurrency benefits from renewed interest, which can help maintain the momentum of the recent rally.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Solana New Addresses. Source: GlassnodeThe Money Flow Index (MFI) is another indicator showing Solana’s positive market movement. The MFI, which tracks buying and selling pressure through volume, has been climbing steadily and has finally entered the positive zone after a period of sell pressure. This shift in the MFI indicates that buying demand is outpacing selling pressure, supporting Solana’s rally.

This move into positive territory suggests that capital is rotating back into SOL, driving its price higher without the need for external catalysts. The rally is thus more organic, powered by investors’ actions and sentiments, rather than speculative or random factors. Solana is returning to simpler days, where market fundamentals play a more significant role than volatile external triggers.

Solana MFI. Source: TradingViewSolana Whales Are Not HappyOn the macro level, Solana is also experiencing changes in the distribution of its supply. The cohort of whales holding over 100,000 SOL has seen a slight reduction in its dominance. Over the past two weeks, their share of the total supply dropped from 59% to 58.6%. This offloading by whales could indicate skepticism, as these large holders are selling into the current rally.

Despite the whales’ exit/selling, new addresses and smaller investors are picking up SOL, shifting the concentration of ownership to a more distributed base. This shift could help stabilize the market and maintain the bullish trend, as smaller holders are less likely to cause significant sell-offs compared to whales. However, the continued presence of skeptical whales may pose risks if they further reduce their holdings.

Solana Exchange Net Position Change. Source: GlassnodeSOL Price Escapes ConsolidationSolana’s price is currently at $90.5, up 14% in the last 24 hours and holding above the $88 support level. After escaping the consolidation range between $77 and $88, Solana appears poised to continue its upward momentum. If investor support remains strong, the altcoin could push further toward $97, which would be the next key resistance.

The factors driving the current rally, including increased new address activity and the shifting whale behavior, paint a positive outlook for SOL. If these conditions persist, Solana will likely secure $97 as support and aim for $105 in the short term. This target is well within reach if the positive market conditions continue.

Solana Price Analysis. Source: TradingViewHowever, if whales continue to exit or if selling pressure rises, the situation could quickly change. A drop below the $88 support would invalidate the bullish outlook, sending SOL back toward the $77 consolidation zone. If this support level also fails, the price could fall further to $67, ending the bullish trend and extending the current downward pressure.

Disclaimer

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

TLDR: XRP Binance funding rates reached extreme negative levels while price ranged between $1.35 and $1.50. Total 3 altcoin market cap rose roughly 12% in February, adding nearly $75 billion despite market stress. Over 60% price correction in XRP has pushed most derivatives traders firmly into short-side positioning. Historical data shows extreme negative Binance funding rates often precede short-term XRP price rebounds.  XRP Binance funding rates have recently reached extreme negative levels, catching the eye of market analysts. This comes as the broader crypto market faces continued pressure from geopolitical tensions and a weakening macroeconomic environment.

Altcoins Maintain Resilience Through a Difficult February February has tested the broader cryptocurrency market with persistent selling pressure. Geopolitical tensions have intensified throughout the month, adding to investor unease.

The macroeconomic environment has also continued to deteriorate, weighing on risk assets. Despite these conditions, altcoins have held up better than many expected.

Total 3, which measures altcoin market capitalization excluding Ethereum, has gained around 12% since February began. That move adds close to $75 billion in market value to the altcoin sector overall.

The performance is worth noting given how fragile the global financial environment remains. Buyers have continued to show up across larger altcoin capitalizations.

As market conditions grow uncertain, position selection becomes a priority for traders. More participants are now turning to derivatives data to identify meaningful market signals.

The data coming from futures markets has drawn growing attention in recent weeks. XRP, in particular, has emerged as an asset of interest among analysts.

Analyst @Darkfost_Coc noted the development on social media, sharing observations about XRP’s funding rate behavior. The post referenced an unusual setup in Binance derivatives data for XRP.

🟢 XRP Binance funding rates flash contrarian buy signal

Despite a still difficult month of February for the cryptocurrency market, marked by intensifying geopolitical tensions and a macroeconomic environment that continues to deteriorate, altcoins have shown relative… pic.twitter.com/MjiYxLpoAM

— Darkfost (@Darkfost_Coc) March 5, 2026

According to the analyst, this type of configuration has historically acted as a contrarian indicator. The tweet drew attention from traders watching for potential entry points.

Extreme Negative XRP Binance Funding Rates Reflect Overcrowded Short Positioning XRP Binance funding rates turned sharply negative while the asset ranged between $1.35 and $1.50. This occurred against the backdrop of a roughly 60% correction in XRP’s price.

Despite the sustained decline, most derivatives traders were positioned on the short side. That one-sided setup drew notice from analysts tracking sentiment data.

When trader consensus leans too heavily in one direction, markets often move against that consensus. Historical data shows that extreme negative funding on Binance has often preceded short-term rebounds in XRP.

These recoveries do not always indicate a full trend reversal. However, they do represent corrective moves that can create measurable trading opportunities.

This type of configuration is known in derivatives analysis as a contrarian signal. It suggests that bearish positioning may have become overcrowded relative to actual price action.

As a result, even a small positive catalyst can trigger rapid short covering. That short covering often accelerates upward price movement in a compressed timeframe.

Traders watching XRP Binance funding rates are encouraged to consider broader market context alongside this signal. One data point alone does not define a trend.

Nevertheless, extreme negative funding combined with a ranging price offers a useful reference point. Investors building gradual exposure to XRP may find this setup relevant for timing decisions.

Key Takeaways Table of Contents

Key TakeawaysThe Appeal of Stablecoins for Cross-Border Payment ProvidersSolana’s Position in the Growing Stablecoin EcosystemGet 3 Free Stock Ebooks Western Union has selected Solana as the blockchain platform for its USDPT stablecoin deployment Infrastructure provider Crossmint will deliver wallet technology and payment APIs for the initiative The service will enable digital-to-cash conversions at over 360,000 physical locations worldwide The initiative aims to capture a share of the $905 billion worldwide remittance industry Following its October 2025 announcement, Western Union expects to debut USDPT during early-to-mid 2026 The money transfer giant Western Union has formed a strategic alliance with blockchain technology provider Crossmint to facilitate the rollout of its USDPT stablecoin on Solana’s blockchain infrastructure. The collaboration was revealed this Wednesday.

🚨Western Union to Launch USDPT Stablecoin on Solana

Global payments giant @WesternUnion is launching USDPT, a new stablecoin on Solana.@Crossmint will power the wallets and payment APIs connected to Western Union’s Digital Asset Network.

The stablecoin will be redeemable… pic.twitter.com/5ufkSpj23C

— Solana Daily (@solana_daily) March 5, 2026

Through this partnership, Crossmint’s wallet technology and payment application programming interfaces will be embedded into Western Union’s existing systems. This integration enables financial technology companies to transfer value via the stablecoin while accessing Western Union’s established worldwide disbursement network.

The company is constructing what it describes as a Digital Asset Network. The initiative aims to bridge stablecoins with its conventional payout systems.

Customers will have the capability to exchange digital dollars for their local currencies. These conversions can be completed at more than 360,000 cash collection points spanning over 200 nations and territories globally.

According to Crossmint, its infrastructure supports more than 40,000 business clients. The company’s offerings encompass smart wallet solutions, fiat-to-crypto conversion services, and multi-chain stablecoin operations.

Malcolm Clarke, who serves as Vice President of Digital Assets at Western Union, explained that the partnership will bridge international digital wallets and platforms with Western Union’s payment network.

Western Union initially revealed plans for the USDPT stablecoin last October 2025. At that point, the company indicated the Solana-powered token would become available during the first six months of 2026.

The Appeal of Stablecoins for Cross-Border Payment Providers Conventional international money transfers frequently require multiple days for completion. These transactions typically involve charges reaching several percent of the transfer amount and experience delays during weekends and public holidays.

World Bank data indicates that international remittances reached approximately $905 billion throughout 2024. The typical expense for transmitting $200 across borders remained at roughly 6% of the total amount.

Stablecoins enable dollar-pegged value transfers through blockchain infrastructure with nearly immediate finalization. These digital assets generally incur reduced transaction expenses compared to conventional payment systems.

Research from Chainalysis reveals that stablecoins represent over half of all cryptocurrency transactions in Argentina, Brazil, and Colombia. This usage pattern stems from high inflation rates and monetary volatility affecting these regions.

Solana’s Position in the Growing Stablecoin Ecosystem Solana was selected as the underlying blockchain for the USDPT token. The platform is recognized for rapid transaction processing and minimal costs, making it suitable for high-volume payment scenarios.

Significant cryptocurrency utilization has also been documented in Nigeria, Turkey, the Philippines, and Vietnam. These nations appear among the highest globally for grassroots digital currency adoption, per Chainalysis research.

During the World Economic Forum gathering in Davos this January, Vera Songwe, former under-secretary-general at the United Nations, highlighted that stablecoins are becoming increasingly popular throughout Africa as a remittance solution. She emphasized that remittance inflows now hold greater significance for African economies than international development assistance.

Western Union has maintained a worldwide money transfer operation for multiple decades. The network facilitates transactions in more than 130 different currencies through physical retail outlets, banking institutions, and mobile wallet applications.

The USDPT token is presently slated for introduction during the first half of 2026.

TLDR US-based spot Bitcoin ETFs attracted $462 million on Wednesday, marking three consecutive days of positive inflows BlackRock’s IBIT dominated with $307 million in single-day contributions Bitcoin touched $73,243, its highest level in 30 days, before retracing to approximately $72,200 President Trump urged rapid approval of crypto legislation, improving market sentiment The Crypto Fear & Greed Index climbed 12 points yet remains in “extreme fear” territory with a reading of 20 Bitcoin (BTC) experienced significant upward momentum on Wednesday, momentarily piercing the $73,000 threshold for the first time in 30 days before consolidating around $72,200.

Bitcoin (BTC) Price This price action coincided with robust activity in US spot Bitcoin exchange-traded funds, which collectively registered $462 million in net positive flows. The influx marked the third consecutive trading session with gains, pushing the three-day aggregate to $1.1 billion.

BlackRock’s iShares Bitcoin Trust (IBIT) dominated the field, capturing $307 million in single-day inflows. Fidelity’s FBTC contributed an additional $48 million, while the Grayscale Bitcoin Mini Trust secured $32 million.

Source: Farside CoinShares BRRR fund was the sole exception, reporting zero inflows for the session. All other US spot Bitcoin ETFs posted positive figures.

Year-to-date, ETF flows have climbed to approximately $700 million. This represents a significant turnaround from the earlier five-week withdrawal period that drained $3.8 billion from these investment vehicles.

Ethereum ETFs also participated in the rally, drawing $169 million on Wednesday following slight outflows in the previous session.

Presidential Support Boosts Market Confidence President Donald Trump made public statements advocating for the swift enactment of pending cryptocurrency market structure legislation. He also voiced criticism of major US financial institutions for their opposition to yield-bearing stablecoin products.

These remarks resonated positively throughout crypto trading circles, strengthening optimism regarding the prospect of regulatory clarity in the United States.

The referenced legislation, dubbed the CLARITY Act, seeks to establish a comprehensive regulatory framework for digital asset markets. Legislative advancement has yet to materialize.

Traditional equity markets also enjoyed a favorable Wednesday session, which contributed to increased risk appetite and supported Bitcoin’s upward trajectory. News suggesting Iran might pursue diplomatic engagement with Washington further enhanced the positive atmosphere.

Geopolitical Tensions Emerge Thursday Bitcoin surrendered a portion of Wednesday’s gains during Thursday morning trading after Iran refuted diplomatic overtures and conducted missile strikes against Israel.

US equity index futures reversed course on the developments, while crude oil prices spiked, raising concerns about potential inflationary pressures.

BTC was changing hands at $72,366 in early Thursday trading, representing a gain exceeding 5% for the day but remaining approximately 8% below levels seen 30 days prior.

Bitcoin has rebounded roughly 20% from its February trough of $60,000.

The Crypto Fear & Greed Index advanced 12 points during the 24-hour measurement period but continues to register a score of 20, placing it firmly within “extreme fear” classification.

Bloomberg ETF analyst Eric Balchunas observed that nearly all Bitcoin ETFs had transitioned to positive year-to-date net flows as of Tuesday, with just three funds still showing negative balances.

XRP is trading at $1.42, up 1.21% in the last 24 hours, but the more significant move may be happening in the derivatives market.

Darkfost, a CryptoQuant author and analyst, flagged a signal on X that the derivatives market may be setting up a trap for short sellers.

Green Flag: Shorts Are Piling InXRP’s funding rates on Binance have entered what Darkfost calls “a phase of extreme negativity,” while the price ranged between $1.35 and $1.50. Despite a roughly 60% correction, the majority of traders in the derivatives market have been positioning short.

In plain terms: the bearish trade is now crowded.

Darkfost’s view is: “When market consensus becomes excessively aligned in one direction, history shows that markets tend to surprise the majority.”

The Last Time This Happened, XRP RalliedIn April 2025, XRP’s funding rate on Binance hit the same extreme negative zone. The asset was sitting around $1.60 with sentiment in the gutter. What followed was a move to $3.65 by mid-July as crowded shorts were squeezed out.

Darkfost notes that CryptoQuant’s historical data shows periods of extreme negative funding rates have “often been followed by short-term rebounds or corrective rallies in XRP.”

This Isn’t a Guaranteed ReversalDarkfost is careful here, and so should readers be. He adds that this setup “does not guarantee a lasting trend reversal”. It is a signal worth watching, but not a complete green light.

The broader market is still fragile. Escalating tensions between the US, Israel, and Iran – including reports of coordinated strikes and drone activity – have pushed investors toward safer assets, dragging risk markets including crypto and silver lower.

While altcoins ex-Ethereum (Total 3) have added roughly $75 billion in market cap since the start of February, the environment remains uncertain.

What Would Lead to a Rally?The CLARITY Act, which has been rising sharply in search interest this week, remains the most significant near-term catalyst. If passed, it would remove the last major regulatory barrier for institutional funds to hold XRP directly.

Also Read: Is 2026 the Year Banks Finally Adopt XRP? Clarity Act and Ripple’s Next Move

A regulatory catalyst landing on top of an oversold derivatives setup is exactly how the April 2025 rally ignited, with the SEC settling with Ripple in May 2025. The CLARITY Act could play that role this time.

Whether a catalyst arrives to trigger that setup remains the key question for XRP in March 2026.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Thu, 5/03/2026 - 9:53

With the CLARITY Act pending and Kraken's new Fed access, Ripple is positioned as the next crypto-native firm to integrate with US central bank rails, says American tech analyst and entrepreneur Paul Barron.

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As has became official, Kraken, through its banking subsidiary Kraken Financial, has become the first crypto company in history to gain access to the payment system of the U.S. Federal Reserve. This allows the crypto platform to work directly with the U.S. Central Bank, bypassing traditional commercial bank intermediaries. The approval has been granted for an initial trial period of one year.

According to Paul Barron, the next company that could receive a path to bank-scale settlement is Ripple and its RLUSD stablecoin. 

Final piece for RLUSD, XRP and RippleAs Barron argues, the case for this is that Ripple has already officially applied for a master account with the Federal Reserve. If the Kraken format proves successful, Ripple and Circle could become the next companies to receive direct access to the Fed’s payment rails, such as Fedwire and FedNow.

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Barron believes Ripple could be next because Ripple’s National Trust Bank Charter was the setup, and it was obtained in December 2025. Direct Fed access would be the final piece for RLUSD to settle at bank scale. Also, for the Clarity Act, momentum is now in the Fed’s hands and the tide is shifting, says Barron. According to him, this is what insiders on the scene are seeing right now.

UPDATE: @krakenfx just bridged the gap. 🌉 And why it matters for @Ripple

By securing a Federal Reserve Master Account, Kraken is no longer "outside" the system; it is on the same Fedwire rails as JP Morgan and Goldman Sachs. This is BIG!

Why I think @Ripple is next

Ripple’s…

— PaulBarron (@paulbarron) March 4, 2026 You Might Also Like

In fact, Ripple is the first crypto-native company with a federal banking charter. As for the Clarity Act, it has already passed the House of Representatives but is currently stalled in the Senate due to disputes over stablecoin yield provisions. Ripple CEO Brad Garlinghouse estimates the probability of the law being adopted before the end of April 2026 at about 80%, meaning, within the next two months.

Whether the fact that Kraken received access to Fedwire makes the way for Ripple will likely become clear by April. If Kraken has already obtained it, then the first domino has fallen, and further developments could accelerate from there.

Related articles

Dogecoin price is close to confirming a bullish breakout from a symmetrical triangle pattern amid a surge in demand on the derivatives market.

Summary

Dogecoin price hit weekly high after reports of U.S.-Iran negotiations calmed investor fears. Dogecoin is close to confirming a bullish symmetrical triangle breakout. Dogecoin (DOGE) price shot up 17% to a weekly high of $0.103 on Thursday morning Asian time before settling at $0.096 at press time.

Dogecoin’s rally was supported by investor fears cooling off after reports surfaced that Iran has secretly been negotiating a deal with the U.S. to de-escalate the ongoing conflict between the two nations.

A look at its futures market shows that more investors are now betting in favor of a Dogecoin rally.

According to CoinGlass data weighted funding rate for Dogecoin has turned positive, signalling that long traders are paying short traders to maintain their positions as they anticipate further gains. Such conditions tend to influence retail sentiment positively.

Dogecoin price eyes symmetrical triangle breakout On the daily chart, Dogecoin price is close to confirming a breakout from the upper side of a symmetrical triangle pattern. When an asset breaks out from the upper side of a symmetrical triangle, it is viewed as a very positive signal and typically marks the beginning of a sustained bullish trend.

Dogecoin price is close to confirming a bullish symmetrical triangle breakout on the daily chart — March 5 | Source: crypto.news For Dogecoin, a breakout from the pattern could trigger bulls to aggressively push the price to reclaim its February high of around $0.117.

Momentum indicators like the MACD and RSI seem to support the bullish path. The MACD lines were moving upwards while the RSI was close to breaking out of the neutral threshold, which is often the spark needed for a massive rally during periods of high market volatility.

However, it should be noted that a break below the $0.080 support would invalidate the bullish setup.

Meanwhile, a major headwind for Dogecoin is the weak demand for spot ETFs tied to the meme coin, which could limit any sustained rally.

Notably, the three spot DOGE ETFs have so far managed to draw in only $7.45 million in net inflows since their launch in November. These institutional products had gone through a month of no flows before attracting only $779,000 in inflows on March 2.

Traders may see the muted involvement from major investors as a sign that institutional players remain unconvinced about the meme coin’s long-term prospects, even as retail demand stays strong.

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

Quick Summary Ethereum surged past $2,100 to reach a 4-week peak of $2,192 amid broad crypto market strength A massive short squeeze saw more than $133 million in bearish positions liquidated within 24 hours Spot Ethereum ETFs attracted $169.4 million in net inflows in one day, signaling renewed institutional interest Derivatives open interest surged nearly 15% to 13.43M ETH, marking the highest level since late January Critical resistance zone lies between $2,150 and $2,200; a clean break could send ETH toward $2,400 and potentially $2,750 Ethereum (ETH) has reclaimed territory above the $2,100 mark this week, pushing to a four-week high of $2,192 as digital asset markets experienced a widespread recovery.

Ethereum (ETH) Price The upward momentum gained traction following reports suggesting potential diplomatic dialogue between the United States and Iran, which boosted risk appetite across financial markets.

Bitcoin spearheaded the rally, breaking back above $73,000 for the first time in over a month. Ethereum quickly followed suit, posting gains exceeding 11% over a 24-hour span.

ETH’s trading volume surged by 24% during this timeframe, representing approximately 12% of the token’s total circulating market capitalization.

This price surge caught bearish traders off guard, resulting in substantial short position liquidations. Data from CoinGlass reveals that over $133 million in short positions were forcibly closed within 24 hours, while long liquidations totaled only $21.5 million.

Short liquidations reached their peak since late February, climbing to $430 million across the market. Ethereum-specific shorts accounted for roughly $100 million of this total, indicating a powerful short squeeze was underway.

Institutional Capital Flows Back to ETH Spot Ethereum ETF products saw remarkable inflows of $169.4 million in a single trading session, based on data compiled by Farside Investors. This influx points to heightened institutional participation during the price rally.

Derivatives open interest for ETH jumped nearly 15% to reach 13.43M ETH — the strongest reading since the final day of January. This metric has expanded by 1.2M ETH during the past two weeks alone.

Source: Coinglass While funding rates currently hover in slightly negative territory at press time, market observers suggest that a rotation toward positive rates would signal a definitive return of bullish market sentiment.

Key Price Levels for Ethereum Traders Analyzing the daily timeframe, Ethereum has developed a classic double bottom formation. The pattern’s neckline resistance is positioned at $2,200, representing a significant psychological barrier.

$ETH has broken above the $2,100 level.

Now, Ethereum needs a daily close above the $2,150 level for a bullish rally towards the $2,400 zone.

A failure to do so will result in a retest of the $2,000 level again. pic.twitter.com/whoneO2IBe

— Ted (@TedPillows) March 5, 2026

Successfully breaking through the $2,200 threshold could propel ETH toward $2,400, which corresponds with the 38.2% Fibonacci retracement from recent highs.

The Relative Strength Index currently reads 53, positioned above neutral territory, indicating strengthening momentum following several weeks of oversold conditions.

The MACD indicator has printed a bullish crossover signal, while the Aroon Up metric registered 92.86%, significantly outpacing the bearish Aroon Down reading of 35.71%.

Ethereum’s realized price — representing the average acquisition cost across all on-chain holders — hovers around $2,300. Approaching this threshold may trigger profit-taking as investors seek to exit at breakeven levels.

Near-term support is established at $2,108, coinciding with the 20-day exponential moving average. Falling beneath this level could expose ETH to a potential decline toward $1,741.

At publication time, ETH was changing hands at $2,117, sitting just 1.1% beneath the 23.6% Fibonacci level at $2,142.

Bitcoin Price Crosses $70,000, Yet It Faces Risk of Selling Pressure Prefer us on Google

Bitcoin rises above $72,000, but macro concerns suggest prolonged bearish market pressure.Percent of supply in profit drops, signaling potential early stages of a bear market.Short-term holders could trigger selling pressure, hindering Bitcoin’s ability to recover.Bitcoin’s price experienced a breakout rise in the last 24 hours, fueled by renewed optimism from investors. The cryptocurrency traded at $72,521, holding above the critical $72,294 support level. 

While this uptick offers a glimmer of hope for short-term gains, the macro outlook remains a concern, leaving many cautious about Bitcoin’s next move.

Bitcoin’s Past Suggests Further Decline AheadThe Percent of Supply in Profit metric has recently broken below its -1 standard deviation threshold, sitting at approximately 57%. This drop indicates that fewer Bitcoin holders are in profit compared to previous periods, which historically signals the early stages of a deep bear market. Similar readings were observed in May 2022 and November 2018, marking significant declines in Bitcoin’s price.

When the Percent of Supply in Profit deteriorates, it reflects a growing number of underwater holders—investors who purchased Bitcoin at higher prices and are now holding losses. 

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Bitcoin STH Cost Basis Bands. Source: TradingViewThis condition typically triggers sustained selling pressure, making the consolidation phase less likely to be a springboard for a market recovery. Instead, it suggests that Bitcoin might be in a prolonged adverse market regime, with continued downward pressure in the medium term.

STHs’ Rising Profits Could Impact Bitcoin NegativelyThe STH (Short-Term Holder) On-Chain Cost Basis Bands (CBB) provide another concerning signal for Bitcoin. Historically, these bands have marked bottoming points when the price slid below the low band, particularly during major corrections like in June 2022 and March 2020. A reversal typically occurs once the STH Realized Price flips into support, signaling a potential price recovery.

Currently, the STH realized price sits at approximately $87,434. If Bitcoin’s price moves towards this level, it could lead to increased selling activity, as short-term holders may look to liquidate their holdings at breakeven.

Bitcoin Supply Profitability State. Source: TradingViewThis creates an additional layer of concern, as it could impede any meaningful recovery by placing downward pressure on the price. If Bitcoin rises to the STH realized price, it may face resistance, making a sustained rally more challenging.

BTC Price Is Escaping, But Can It Succeed?At the time of writing, Bitcoin is priced at $72,521, holding above the critical $72,294 level. Securing this support is essential for any potential recovery. However, bearish cues suggest that this recovery might be delayed, as many factors point toward ongoing pressure from sellers.

If the bearish trend continues, Bitcoin may struggle to break through the $75,000 resistance level. In this scenario, Bitcoin could face further declines, possibly reaching $70,000 or even dipping below $65,000. The prevailing market conditions suggest that Bitcoin may have difficulty gaining upward momentum without a significant shift in investor sentiment.

Bitcoin Price Analysis. Source: TradingViewHowever, if the bulls manage to take control in the short term, Bitcoin could see a rise past the $75,000 level. A breakthrough above $78,363 would invalidate the bearish thesis, signaling a potential shift toward higher prices. Yet, $75,000 remains a psychological barrier, and Bitcoin could face panic selling as it attempts to breach this critical level.

Disclaimer

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

Dogecoin price skyrocketed more than 16% in a single day amid a massive broader crypto market rebound. While the U.S.-Iran war continues, the latest macro data points to growing economic resilience.

Broader Crypto Market Rebound Triggers Dogecoin Price Rally Bitcoin and major altcoins bounced back strongly, creating a risk-on environment that benefits meme coins like Dogecoin. As Bitcoin extends gains by another 8%, multiple crypto assets recorded inflows, causing Dogecoin price to rally in the past 24 hours.

As CoinGape reported, Bitcoin price bounced as US services sector growth activity rose to a 3-year high and the US private sector added more jobs than expected.

DOGE saw massive trading volume of more than 100% as investors, derivatives traders, and whales bought the dip amid renewed positive sentiment. Notably, derivatives markets recorded massive buying, with DOGE futures open interest up 4% to $1.09 billion in the last 24 hours.

Elon Musk’s X Money Beta Launch Elon Musk’s X platform launched X Money beta access through Star Trek actor William Shatner. He gave 42 invites to users who donated to his charity.

The X Money payment service developments mark Elon Musk’s long-term vision to enter the fintech sector after securing money transmitter licenses across the United States. X Money will compete directly with PayPal, Venmo, and Cash App in the peer-to-peer payment space.

The Dogecoin community reacted as Dogecoin-fan and DOGE holder Elon Musk had earlier hinted at integrating DOGE on X Money payments service. This has triggered a massive rise in Dogecoin price.

𝕏 Money https://t.co/JQ51VrmQeI

— Elon Musk (@elonmusk) March 4, 2026

Dogecoin Price Rise on Technical Breakout Santiment said “When conversations around altseason hit rock bottom, that’s when large capital holders begin to typically pump the price. Dogecoin price jumped after social volume toward altcoin season interest hit bottom.

Santiment noted that the DOGE pump began just after the crowd went historically bearish on altcoins. “It’s wise to be a contrarian to the echo chamber that is crypto social media,” it added.

Dogecoin Pumps Amid Low Social Volume on Altseason. Source: Santiment Dogecoin price chart saw a technical breakout in lower timeframes. In the hourly timeframe, a breakout above the descending trendline triggered massive buying. DOGE saw multiple higher lows alongside the upper Bollinger bands, triggering a bullish DOGE outlook to $0.015.

Traders buy the dip as the price jumps above the 50- and 200-hourly moving averages. Dogecoin price pulled back from a 24-hour high of $0.104 to $0.0956 as Bollinger bands showed market volatility subsiding.

Dogecoin Price Chart in Hourly Timeframe. Source: TradingView

The crypto market today experienced a broad rally over the past 24 hours, led by Bitcoin’s strong upward momentum fueled by renewed institutional inflows into spot Bitcoin exchange-traded funds (ETFs) and improving global macro sentiment.

Bitcoin climbed 5.93% to $72,287.26, reflecting a wider risk-on move across financial markets. Analysts note that Bitcoin currently shows a 0.89 correlation with the S&P 500, highlighting the increasing influence of macroeconomic conditions and institutional capital on the digital asset market.

Bitcoin ETF Momentum AcceleratesInstitutional demand remains a key driver behind Bitcoin’s recent strength. Spot Bitcoin ETFs have now reached $60 billion in cumulative net inflows in less than two years, according to data highlighted in a chart by ARK. By comparison, gold ETFs required more than 15 years to achieve the same milestone.

Although 2026 year-to-date ETF outflows have reached approximately $4.5 billion, cumulative net inflows remain strong at around $54 billion, indicating continued long-term institutional demand.

Bitcoin Dominance Suggests Synchronized Market MovesBitcoin dominance has been moving sideways, indicating that major altcoins may continue to move in tandem with Bitcoin rather than significantly outperforming it in the immediate term.

However, traders are closely monitoring a key dominance resistance trendline. If Bitcoin dominance fails to break above this level, it could signal capital rotation from Bitcoin into altcoins, historically a catalyst for broader altcoin rallies.

Ethereum Price Approaches Critical ResistanceEthereum is also approaching a key technical inflection point. The asset is currently testing a major resistance zone between $2,150 and $2,250, an area previously established as Fibonacci-based support.

A confirmed breakout above the $2,250–$2,300 range could potentially trigger a move toward $2,600–$2,700 in the coming weeks, according to market analysts.

However, short-term technical indicators suggest caution. Ethereum’s two-hour relative strength index (RSI) has entered overbought territory, signaling that a temporary consolidation or minor pullback may occur before the next leg higher.

Key technical levels currently being monitored include:

$2,130: Immediate resistance$2,070–$2,100: Potential pullback support$2,270: Higher liquidation clusterDespite the recent rally, analysts say Ethereum has not yet matched Bitcoin’s pace, suggesting capital remains primarily concentrated in BTC for now.

Overall, we can expect potential pullback zones near $1,990–$2,000, with upside projections between $2,600 and $2,800 if broader market momentum continues to build.

Top Altcoins Poised For Potential BreakoutsMajor altcoins have largely followed Bitcoin’s recent rally, though many remain in consolidation phases as traders evaluate whether broader momentum will spread across the market.

XRP price continues to hold a key support zone between $1.30 and $1.40, showing early signs of stabilization after a prolonged decline. 

Meanwhile, Solana (SOL) is trading within a sideways range, maintaining support between $75 and $80 while facing resistance between $95 and $105. The token recently attempted a breakout above $90, signaling growing buying interest. 

SOL token is drawing interest around $87–$88, a zone some traders see as a potential buying opportunity. If bullish momentum strengthens, upside targets could extend toward $115–$120.

Chainlink (LINK) is also approaching an important technical level, currently testing resistance around $9.50 to $10. However, short-term indicators suggest the possibility of temporary weakness before any sustained move higher.

Other altcoins showing potential include Avalanche (AVAX), which is holding support around $9–$9.20 and could move toward $12–$13 if resistance levels break. 

Cardano (ADA) is holding key support between $0.26 and $0.27, suggesting a potential breakout toward $0.36–$0.40 if bullish momentum builds.

Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQsWhy is the crypto market up today?

The crypto market is rising as Bitcoin climbs above $72K, driven by strong institutional inflows into spot Bitcoin ETFs and improving global risk sentiment.

Is the current crypto market rally sustainable?

The rally could be sustainable if institutional ETF inflows continue and macro conditions remain supportive, though short-term pullbacks are normal in volatile markets.

Why is Bitcoin leading the crypto market recovery?

Bitcoin is leading the recovery due to strong institutional demand from spot Bitcoin ETFs and its growing correlation with traditional markets like the S&P 500.

Can Ethereum follow Bitcoin in this market recovery?

Ethereum is approaching key resistance near $2,250–$2,300. A breakout could confirm stronger recovery momentum and potentially push ETH toward $2,600.

Will altcoins benefit from the crypto market recovery?

Altcoins like Solana, XRP, Cardano, and Chainlink could rally if Bitcoin stabilizes and dominance weakens, allowing capital to rotate into the broader market.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Key Highlights XRP surged 7% over 24 hours, touching $1.46 following diplomatic signals between Iran and the United States Spot XRP ETF products pulled in $7.53 million on Tuesday, extending their positive flow streak to six consecutive sessions Combined assets under management for XRP ETFs stand near $1 billion Open Interest in XRP futures contracts declined to $2.11 billion, marking the lowest reading since January 2025 Critical resistance zone lies between $1.50 and $1.54, while support maintains around $1.40 XRP experienced a sharp 7% advance on Wednesday following emerging reports that Iran had expressed readiness to engage in diplomatic discussions with the United States.

XRP Price The digital asset climbed to $1.46, while daily trading activity exploded 39.71% to reach $4.1 billion.

The wider cryptocurrency ecosystem experienced parallel gains. Overall market capitalization expanded 6.28% to $2.49 trillion, with Bitcoin breaking through $73,000 and Ethereum pushing past $2,100.

The upward momentum followed a New York Times article revealing that Iran’s intelligence ministry had communicated with the CIA through back channels, expressing interest in pursuing conflict resolution.

U.S. President Donald Trump had previously confirmed receiving communication attempts but indicated that formal negotiations might face delays.

Market participants responded by rotating capital into risk-oriented assets, driving cryptocurrency valuations significantly higher throughout the sector.

ETF Products Maintain Positive Flow Trajectory XRP spot exchange-traded funds attracted $7.53 million in net capital on Tuesday, representing the sixth uninterrupted day of positive investor demand.

Source: SoSoValue Bitwise’s XRP ETF product dominated inflows with $6.08 million captured during the session. The fund’s aggregate net inflows have reached $10.77 million.

Canary Capital’s XRPC ETF product secured $1.45 million in additional capital during the same trading period.

Aggregate assets under management across all XRP spot ETF vehicles hover around $1 billion, while total cumulative inflows have climbed to $1.255 billion based on SoSoValue tracking data.

On the ecosystem development front, Doppler Finance revealed a strategic collaboration with digital asset custodian Hex Trust to integrate wrapped XRP into its institutional blockchain infrastructure as part of an incentive program.

Ripple separately verified recent strategic acquisitions including Palisade, a custody and treasury automation provider, alongside Rail, which specializes in virtual account management and payment collection services.

Chart Levels Under Observation XRP remains positioned beneath its 50-day, 100-day, and 200-day exponential moving averages, all of which maintain downward trajectories.

The SuperTrend technical indicator registers at $1.61, positioned above current price action and confirming the prevailing bearish framework.

The RSI indicator was advancing toward 66 on the 4-hour timeframe, suggesting strengthening buying pressure. The MACD indicator also generated a fresh bullish signal through a positive crossover.

Futures Open Interest contracted to $2.11 billion on Wednesday, declining from $2.25 billion the previous session and substantially below the July 2025 peak of $10.94 billion.

A confirmed breakout above $1.50 resistance could pave the way toward $1.60. Inability to defend $1.45 may trigger a retracement toward the $1.40 support area.

As of Wednesday afternoon trading, XRP exchanged hands near $1.41, representing approximately a 62% decline from its historical peak of $3.65.

Bitcoin traded close to $72,500 on Thursday as steady inflows into U.S. spot Bitcoin exchange-traded funds (ETFs) highlighted renewed institutional interest in the cryptocurrency market. According to CoinDesk market data, the leading digital asset maintained its upward momentum as investors continued allocating funds to newly launched ETF products.

U.S.-listed spot Bitcoin ETFs recorded an additional $155 million in net inflows on Wednesday, extending a streak of consistent institutional buying. Data compiled by SoSoValue shows that ETF allocations have reached roughly $1.47 billion over the past two weeks, representing a sharp turnaround after multiple weeks of outflows earlier this year.

The recent surge suggests institutional demand for Bitcoin ETFs is stabilizing following a weak start to the year. Bloomberg Intelligence data previously reported by CoinDesk indicates that investors have poured approximately $1.7 billion into U.S. spot Bitcoin ETFs since Feb. 24. Market analysts believe these inflows may indicate growing confidence that Bitcoin has found a near-term price floor.

However, some analysts caution that ETF inflows do not always translate into immediate buying pressure in the spot market. Earlier this week, analysts at Bitfinex noted that authorized participants can create and short ETF shares before acquiring the underlying Bitcoin. This process may delay the direct impact of ETF demand on Bitcoin’s market price.

Despite these mechanics, Bitcoin’s resilience amid geopolitical tensions is strengthening its role in global financial markets. Livio Weng, CEO of Bitfire, said the cryptocurrency is increasingly being viewed as a geopolitical hedge rather than simply a risk asset. Unlike gold, Bitcoin operates around the clock and can be transferred across borders instantly, making it attractive for capital movement during periods of economic uncertainty.

Still, on-chain data suggests caution. Blockchain analytics firm Glassnode recently reported that buy-side momentum has weakened. The 30-day moving average of realized profit has dropped roughly 63% since early February, signaling reduced investor profitability.

Additionally, the proportion of Bitcoin supply currently held in profit has declined to around 57%. Historically, this level has been associated with the early stages of deeper bear market conditions. Glassnode also noted that the cost basis for short-term Bitcoin holders sits near $70,000, which could become an important psychological resistance level. If prices approach this level, some traders may choose to exit positions near breakeven, potentially turning rallies into distribution phases.

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