Market Signal Briefing

The Zcash Foundation confirmed that the U.S. Securities and Exchange Commission has formally closed its inquiry into the organization, concluding a regulatory review that began in 2023 without recommending any enforcement action.

The Foundation stated that the SEC ended its investigation related to “In the Matter of Certain Crypto Asset Offerings [SF-04569],” which followed a subpoena issued on August 31, 2023. According to the announcement, the regulator informed the Foundation that no further action or changes would be pursued. The SEC has not released a separate public statement on the matter.

On-chain development data shows uneven activity throughout the past year. Development metrics fell sharply toward the end of 2025, reaching lows near early January, before rebounding to more stable levels. Although activity remains below earlier cycle peaks, the recent stabilization suggests that core maintenance and protocol work have continued despite organizational changes.

ZEC price action has reflected this uncertainty. After a prolonged decline through late 2025, ZEC recently rebounded and is trading around $437, up more than 6%, according to TradingView data. While the move does not yet confirm a broader trend reversal, price has held above recent local lows, coinciding with the confirmation of regulatory clarity.

Source: Zcash Foundation statements, on-chain development data, TradingView

Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem. This information does not constitute financial advice or an investment recommendation.

ETH Ethereum Price Prediction

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Simon Chandler

Author

Simon Chandler

Part of the Team Since

Jan 2018

About Author

Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

Has Also Written

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Last updated: 

13 minutes ago

The Ethereum price has jumped by 6% in the past 24 hours, with its rally to $3,328 coming after major ETH holder SharpLink provided further details of plans to generate an income from its holdings.

ETH’s current price means that it’s up by 12% in a fortnight and by 6% in a month, with the cryptocurrency market as a whole rising to $3.33 trillion today after U.S. data showed inflation remaining stable in December.

While the Ethereum price is up by only 5% in the past year, SharpLink’s discussion of how it’s going to use its ETH productively is very positive for the coin, and may encourage more institutions and corporations to increase accumulation.

And with Ethereum still being the biggest layer-one network in crypto by a wide margin, the long-term Ethereum price prediction is hugely bullish right now.

Ethereum Price Prediction: SharpLink Activates Multi-Billion ETH Strategy – How Long Until ETH Hits a New All-Time High?Speaking on the Degenz Live YouTube channel, SharpLink CEO Joseph Chalom detailed how the company had deployed $170 million in ETH on the layer-two network Linea, and how this deployment provides a template for similar activity in the near and distant future.

In other words, Chalom wants 2026 “to be the year of productivity” for its Ethereum reserve, which could set a precedent other firms and institutions increasingly follow.

And if we look at the Ethereum price chart today, we see that its momentum is rising strongly, and the coin may have even broken out.

Most notably, its price has broken through the pennant it has been forming since August, while its MACD (orange, blue) climbed above 0 a week ago and became positive for the first time in months.

Source: TradingViewIt’s a similar story with the relative strength index (yellow), which has tried to crack 70 once already in the past week, and may be about to do the same thing again very soon.

Such gains in momentum come as flows into Ethereum funds reach a modest $56 million since the beginning of January, although they have actually seen an outflow of $116 million in the seven days to January 12.

The past 24 hours have witnessed some significant transfers of ETH, including one transfer that saw a whale take 16,624 ETH off Coinbase.

We’ve also seen some massive deposits onto Ethereum’s Beacon Chain, indicating an increase in staking activity, which may or may not have any relation to SharpLink’s deployment of its ETH reserves.

Regardless, the Ethereum price prediction is looking vey encouraging, with ETH on course to top $4,000 by Q2, and to break $5,000 by H2.

SUBBD Could Be the Next Altcoin to 100x: How to Buy EarlyWhile Ethereum is probably one of the safest cryptocurrencies you can invest in at the moment, many investors may also want to diversify into higher risk, higher reward cryptocurrencies.

This may include presale coins, which do have the potential to rally strongly when they list for the first time, sometimes outpacing the market average.

And of all the presale tokens available right now, one of the most interesting is SUBBD ($SUBBD), an Ethereum-based utility token that has raised over $1.4 million.

SUBBD is the utility token for an adult-oriented content creation platform of the same name, one which provides content creators with generative AI tools to help make them more productive.

This includes tools for ideas, tools for creating virtual adult performers, and tools for creating content, including images and videos.

By harnessing such tools, SUBBD is aiming to give users the ability to produce not only more content, but also higher quality content.

At the same time, the use of the Ethereum blockchain allows for fair and transparent payouts for creators, giving it an edge over legacy platforms.

This helps to explain why SUBBD’s presale is doing well, and also why the platform now reaches over 38,000 followers on X, an early sign of its future popularity.

Investors can join its sale at the official SUBBD website, where the token is currently selling for $0.05745.

This will rise every few days until the sale ends, so buyers should act quickly.

Visit the Official SUBBD Website Here

Price Prediction Privacy zcash

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Alejandro Arrieche

Author

Alejandro Arrieche

Part of the Team Since

Dec 2024

About Author

Alejandro is a seasoned financial analyst and adept business expert with over seven years of experience in dissecting complex business topics and vital market trends. His insightful writing, which has...

Has Also Written

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Last updated: 

13 minutes ago

Last week, more than 25 members of the leading development team behind Zcash resigned, triggering a major shift in focus across the privacy coin space.

As confidence in Zcash wavers, attention has quickly turned to alternatives with Dash emerging as a top contender.

This shift in sentiment has sparked a surge in trading volumes, supporting a bullish Dash price prediction as more investors look for privacy-focused projects with stability and momentum.

Josh Swihart, former CEO of the Electric Coin Company (ECC), stated that the resignations stemmed from ongoing conflicts with Bootstrap, the non-profit tasked with overseeing the team’s work.

Over the past few weeks, it's become clear that the majority of Bootstrap board members (a 501(c)(3) nonprofit created to support Zcash by governing the Electric Coin Company), specifically Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai (ZCAM), have moved into…

— Josh Swihart 🛡 (@jswihart) January 7, 2026 Swihart emphasized that there was a “clear misalignment” between the top priorities for Bootstrap and ECC that prevented the team from being able to do their job.

The news triggered a steep decline in the price of ZEC. At the time of writing, its 7-day losses currently sit at 17%.

In contrast, DASH has booked a 74% gain during this same period, as the market seems to have rotated toward this token and Monero (XMR) in response.

Zcash was one of the top-performing assets last year with an 827% gain. If that same buying interest rotates toward DASH, that could propel its price to levels not seen in years over the next few weeks.

Dash Price Prediction: DASH Eyes $250 After Bullish BreakoutDASH’s trading volumes have more than doubled in the past 24 hours alone, currently accounting for 130% of the asset’s circulating market cap at $1.2 billion.

Source: TradingViewThis indicates that buying pressure has accelerated dramatically, causing a massive short squeeze that could keep unfolding over the next few days.

The daily chart shows that DASH has been going up for three days in a row and has broken a key resistance at $58 with strong volumes.

This sets the stage for a potential breakout, with targets at $125 and $250, offering up to 233% upside in the weeks ahead.

As the crypto market gains momentum, investor attention is shifting to promising presales like SUBBD (SUBBD).

This project introduces a powerful AI-driven platform that allows creators to monetize their AI-generated characters and content in a way that could redefine digital ownership.

SUBBD (SUBBD) Lets Creators Earn Passive Income From Their Own AI CharactersPowered by advanced AI, SUBBD ($SUBBD) is building a platform where creators can design, launch, and monetize their own AI-generated characters with ease.

Whether it’s a virtual influencer, assistant, or digital persona, creators can license and earn from their AI creations while retaining full control and ownership.

With automation handling the backend and demand for AI content growing fast, SUBBD could be one of the most exciting presales of the year.

This opens up a new passive income source for the community and allows creators to monetize their work even while they are asleep.

The $SUBBD token is at the center of everything, powering this entire ecosystem and giving creators a say on how the platform evolves.

Similarly, subscribers will use the token to get early access to new features, discounts, custom requests, and more.

To buy $SUBBD before it lists on exchanges, simply head to the official SUBBD website and link up your wallet (e.g. Best Wallet).

You can either swap USDT or ETH for this token or use a bank card to complete your purchase.

Visit the Official SUBBD Website Here

Bitcoin's breakout above $95,000 rejuvenated risk appetite, with one market strategist saying that the crypto rally has legs.

Despite its slow momentum over the past few weeks, XRP is still on analysts’ radar as they look beyond its dollar price action and into its performance against gold. One analyst has said that the long-term XRP/Gold ratio has just reached a historical support zone, signaling a familiar technical setup that could determine its next move.

XRP/Gold Ratio Arrives At Critical Support Level Market expert ‘Steph is Crypto’ has released a fresh analysis focusing on the XRP to gold ratio and its historical behaviour. In his post on X this Tuesday, he stated that the ratio has returned to a long-standing support zone around $0.0004, which has consistently marked major turning points in XRP’s price action relative to gold. 

According to the analyst, this same area previously preceded powerful upside moves in the XRP/gold ratio. Each prior visit to this zone was followed by a sharp reversal higher, as highlighted by the circled lows and steep advances that followed. The chart shows rallies of more than 800% in 2020, over 120% in 2022, and about 530% in 2024. 

Source: Chart from Steph is Crypto on X Steph is Crypto also pointed to momentum conditions, noting that the Relative Strength Index (RSI) was oversold in the past when the XRP/gold ratio hit the historical support. In the current 2026 cycle, the RSI sits around 33.38, reflecting a similar oversold setup to previous cycles. According to the analyst, this suggests downside momentum is fading. 

The general outlook of this analysis suggests that if past trends repeat, the XRP/gold ratio could experience another strong rally this cycle. This time, Steph is Crypto predicts a rally from the support around $0.0004 to over $0.0018, representing a gain of more than 350%. 

Analyst Links XRP Trajectory To That Of Gold And Silver In a subsequent post, Steph is Crypto shared another analysis comparing the historical price movements and expansion phase of gold and silver with XRP. He presented parallel charts for each asset, highlighting distinct phases preceding major price rallies in the precious metals while illustrating the potential path for XRP based on gold and silver’s past performance. 

The chart showed that gold and silver experienced a major distribution phase in 2021, followed by a compression phase in 2023 and an expansion in 2026. In Gold’s case, its price reversal was sharp and vertical, with minimal pullbacks before reaching an all-time high near $4,700. Silver’s movement was more muted, showing significant volatility from 2023 to 2025 before accelerating in 2026 to peak above $91.

Based on these performances, Steph is Crypto predicts that XRP could follow a similar trajectory. The cryptocurrency has completed its distribution phase above $3 and its compression stage near $2.3, and the analyst now expects it to enter an expansion phase, with a projected ATH target of $32.

XRP trading at $2.14 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Freepik, chart from Tradingview.com

Ripple is positioning XRP as institutional-grade financial infrastructure, not just a speculative token. XRP’s success now depends on real institutional usage, not announcements. Ripple is trying to make XRP useful for big institutions like banks, pension funds, and large companies, and not just the regular crypto traders. Instead of XRP being seen as a risky token, Ripple wants it to work like a real financial infrastructure. This shift is being described as Ripple is building a “Wall Street kit”.

Ripple’s “Wall Street Kit” Brings Institutional-Grade Infrastructure to Crypto The Wall Street Kit means the big institutions can’t just buy crypto and keep it in the wallet. They need secure storage, clear rules and compliance, tools to manage money, and professional trading services. Ripple has built all these tools together, which is referred to as a “Wall Street Kit”.

 Ripple has built a full stack of tools that institutions need before they enter the crypto market. Also, Ripple has built the most important aspects that institutions should have. It built the payment systems, Treasury tools, Prime brokerage, Secure custody, and Stablecoins. Ripple payment uses the XRP ledger for cross-border transactions, which is designed to meet banking standards.  

Ripple’s acquisition of Gtreasury gives corporates tools to manage cash, liquidity, and risk.  Ripple Prime helps institutions to buy or sell XRP safely, which includes clearing, financing, and OTC trading. Big traders can’t use exchanges like normal traders. The Ripple Custody helps to store XRP securely for banks and institutions. It offers regulated storage, strong security, and Audits. RLUSD is a digital dollar that stays stable. This RLUSD reserve is kept at BNY Mellon, one of the world’s most trusted banks.

This confirmation is not officially announced by Ripple, but the claim comes from  XRP supporters. Institutional adoption must be proven with real capital inflows, on-chain transaction volume, liquidity growth, and actual bank or pension deployment. So far,  Ripple is ready for the banks, but we are still waiting to see if banks actually show up and use it on a large scale. 

Highlighted Crypto News:

‌Animoca Brands Expands Web3 Gaming Ecosystem With SOMO Acquisition

TLDR:

Deribit introduces option contracts for Avalanche (AVAX) and Tron (TRX) fully settled in USDC. The new instruments allow for risk hedging strategies without physical token delivery. Contract sizes have been set at 100 AVAX and 10,000 TRX to facilitate institutional exposure. Deribit is expanding the tools available for volatility trading with the addition of AVAX and TRX options. These new contracts were designed to be 100% settled in the USDC stablecoin, ensuring full alignment with its existing perpetual products. Consequently, traders will be able to manage their positions with greater capital efficiency by using a standardized and predictable settlement currency.

The inclusion of AVAX and TRX on Deribit allows users to access call and put rights on the underlying assets without the obligation of physical delivery at expiration. Since these are cash-settled contracts, the platform facilitates operations for investors seeking price exposure to Avalanche and Tron. It is worth noting that, for the time being, the firm will not accept deposits of the native tokens as collateral to cover margin requirements.

Hedging and Yield Generation Strategies with Derivatives The arrival of AVAX and TRX to Deribit opens the door to financial strategies such as hedging spot positions against potential market downturns. By purchasing put options, an investor secures a fixed selling price, obtaining a payout in USDC if the market falls below the strike price. This protection is fundamental for large holders who wish to maintain their exposure to the ecosystem without assuming excessive depreciation risks.

Furthermore, the platform encourages the generation of passive income through strategies such as covered calls using AVAX and TRX options on Deribit. Option sellers can receive direct premiums in USDC, assuming certain obligations in exchange for consistent returns in sideways or moderately bullish markets.

In summary, with contract sizes of 100 AVAX and 10,000 TRX, Deribit consolidates its position as the preferred venue for institutional altcoin derivatives trading in today’s crypto environment.

Pi’s below $1 for more than half a year: low trading volumes, massive unlocks & no Binance paint a dim picture.

Market Sentiment:

Bullish Bearish Neutral

Published: January 14, 2026 │ 11:00 PM GMT

Created by Gabor Kovacs from DailyCoin

Pi Network’s (PI) native crypto token has been floating just above the $0.20 major demand area for quite some time now. With the Consumer Price Index (CPI) data coming out softer than what was expected, this served a perfect early 2026 boost for most major caps, but not Pi Coin (PI).

Pi Coin’s Unlocks & Lack Of Listings Posing Threats?This week, the mobile-mining network’s native crypto is compressing in a tight range between $0.2057 – $0.2107, but market connoisseurs are assessing the odds of an eventual $1 reclaim. Pi Coin’s price hasn’t seen the $1 price tag ever since May 14, 2025 – the lack of exchange listings had taken its toll, but that’s not the only issue bothering the Pioneers.

Aside from that, the Pioneers are dealing with multi-million Pi token unlocks every day, even though the average figures have calmed, inducing softer inflation on the Pi Network’s native coin. Meanwhile, Pi Network’s core team penned a MiCa regulation-themed white-paper, fueling broader speculation that the altcoin is arriving on Robinhood’s European Union branch soon.

Pi’s Price Yet To Catch Up: What’s Next For Pioneers?The mobile altcoin carries on dwelling in very stagnant trading volumes on Spot markets. On Wednesday, Pi Coin garnered just above $14 million – a figure uncanny for a TOP 100 crypto asset by market capitalization, according to CoinGecko’s data.

With the Pi Hackathon recently closing in, Pi Network (PI) now strives for real-world utility. The winners are launching a Web3 dating app, while Pi’s core team is dropping DEX launch. On top of all this, Pi’s mining rate hasn’t been this fast in a long time.

PI DEX launch will be a game-changing moment for the #PiNetwork ecosystem.

From recent Pi Network blog, it says Pi is the most liquid token. Fresh liquidity will flow into $Pi through token creation and liquidity pools, where $Pi becomes the central asset powering the ecosystem pic.twitter.com/L94Snqo60E

— drealFx || π 🕊 (@okere_eberechi) January 14, 2026 So what’s halting Pi Coin’s rally to $1? The buying power is not there. Judging from the Chaikin Money Flow (CMF), largest holders, popularly referred to as whales, are divided on Pi Coin’s direction.

The CMF index hovers at -0.03 on the 4-hour charts, meaning that most Pi Coin whales are still in a wait-&-see mode as Pi’s rally stalls in comparison to other top altcoins. With the broader markets enjoying a rebound, Pi’s negative whale sentiment prevents the price from a bounce.

Discover DailyCoin’s hottest crypto news today:
PEPE Buyers Flip The Script, Gaussian Break-out Loading?
Hedera ETF Pulls In $817.77K: Will This Catapult Price?

People Also Ask:What’s Pi Coin’s status right now?

Open Mainnet since Feb 2025. Trades on mid-tier exchanges like OKX, MEXC, Gate.io. Price ~$0.20–$0.35. Circulating supply ~6.8–7B out of 100B total max. Lots still locked due to unfinished KYC/migration.

Why can’t it hit $1?

Low daily volume ($20–$60M) keeps liquidity thin and price fragile. KYC/migration delays lock huge supply, but future unlocks create dump fear. Vesting for team/ecosystem adds constant pressure. No major Tier-1 listings (Binance, Coinbase, Kraken) limit inflows and hype.

What would push Pi toward $1?

Tier-1 exchange listing for volume and credibility. Smooth mass KYC/migration without panic sells. Real utility growth (merchants, apps, payments). Bull market rotation into smaller caps.

Worth holding or buying?

High-risk speculative. Good for miners with free coins (lottery ticket). New buyers face dilution risk and no big catalysts yet. Many early holders already sold lower. DYOR heavy.

Where to trade it?

Mainly OKX, MEXC, BitGet, Gate.io, Pionex, CoinW, BitMart. Not on Robinhood, Coinbase, Binance spot, or Kraken yet.

DailyCoin's Vibe Check: Which way are you leaning towards after reading this article?

Market Sentiment

100% Bullish

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Ripple XRP News XRP Price Prediction

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Alejandro Arrieche

Author

Alejandro Arrieche

Part of the Team Since

Dec 2024

About Author

Alejandro is a seasoned financial analyst and adept business expert with over seven years of experience in dissecting complex business topics and vital market trends. His insightful writing, which has...

Has Also Written

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Last updated: 

January 14, 2026

A new draft of the Clarity Act in the United States could be a game-changer for XRP, potentially classifying it alongside Bitcoin (BTC) and Ethereum (ETH) as a non-security asset.

This shift would mark a major regulatory win for XRP and strongly support a bullish XRP price prediction, as it clears the way for greater institutional adoption.

However, this new piece of legislation would give them “non-ancillary” status, meaning that they will get the same treatment as BTC and ETH.

All tokens that have gotten their own exchange-traded product (ETP) will enjoy this treatment. Although this does not have an immediate impact on the price of XRP, it does provide further regulatory clarity for institutions that want to embrace cryptos and include them in their portfolios and treasury strategies.

XRP Price Prediction: The 200D EMA Is The Key Resistance to WatchWall Street’s interest in XRP has been accelerating ever since the first ETF linked to this token was launched in the U.S. Data from SoSoValue shows that these funds have pulled in over $1.5 billion in assets in just a couple of months.

Source: TradingViewXRP booked a strong gain yesterday after 7 consecutive days of losses. The daily chart shows a clear rejection of a move above the 200-day exponential moving average (EMA), making this the key resistance to watch if the price keeps rising.

A move above this line could push XPR back to $3.20. The Relative Strength Index (RSI) just hit the 14-day moving average and, depending on what the oscillator does next, it will confirm the price’s future trajectory.

Meanwhile, the token may still drop to $1.95 if bearish momentum gains traction.

Investors are increasingly paying attention to new projects and top crypto presales like Bitcoin ($HYPER) as institutional adoption accelerates. With more than $30 million raised in a short period, this Solana-based layer-2 chain for BTC seems to have popped up on their radar already.

Bitcoin Hyper ($HYPER) Helps BTC Holders Earn Passive Income Easily and SafelyBitcoin Hyper ($HYPER) is opening the door for Bitcoin holders to finally earn yield, stake, and access DeFi without ever leaving the Bitcoin network.

Built as a side chain using Solana’s high-speed architecture, Bitcoin Hyper lowers fees and boosts transaction speeds, solving the biggest barrier to Bitcoin’s growth beyond store-of-value.

For the first time, BTC holders can tap into DeFi apps, payment platforms, and meme coin launchpads directly through Bitcoin Hyper, unlocking real utility and passive income on the world’s most secure blockchain.

As more people begin using this new Layer-2, demand for its native token $HYPER is expected to grow rapidly.

That’s why the project has already raised $30.50 million in record time, with early investors jumping in before momentum hits full speed.

To buy $HYPER at the discounted presale price, simply head to the official Bitcoin Hyper website and link up a compatible wallet (e.g. Best Wallet).

You can either swap USDT or SOL for this token or use a bank card instead.

Visit the Official Bitcoin Hyper Website Here

Bitcoin’s derivatives market is showing signs of a reset after a speculative 2025, with Binance open interest falling more than 31% from an October peak as futures-led selling pressure cools, a combination CryptoQuant contributor Darkfost argues often coincides with meaningful cycle lows.

In a series of posts on X, Darkfost said 2025’s leverage build-up was fueled by record activity on Binance, where futures trading volumes “exceeded $25T,” helping push Bitcoin open interest (OI) to an all-time high “of over $15B on October 6.”

“To put this into perspective, during the previous bull cycle in November 2021, when Bitcoin hit its ATH, open interest on Binance peaked at $5.7B,” Darkfost wrote. “In other words, OI nearly tripled in 2025. Since that peak, open interest has dropped by more than 31%, stabilizing today around $10B.”

Bitcoin Deleveraging Signal | Source: X @Darkfost_Coc Darkfost framed the move as a deleveraging phase that intensified amid “massive liquidations,” with OI slipping below its 180-day moving average, a condition the analyst says has historically mattered more than the raw level of leverage.

“These deleveraging periods are crucial, as they help purge the excess leverage built up in the market,” Darkfost wrote. “Historically, they have often marked significant bottoms, effectively resetting the market and creating a stronger base for a potential bullish recovery.”

The logic is straightforward: when leverage is forced out, the market can become less vulnerable to cascade-style liquidations and reflexive selling. In that sense, a lower OI environment can reduce the marginal impact of futures positioning on spot, at least compared with the late-stage “crowded trade” conditions that precede sharp drawdowns.

But Darkfost warned that a deleveraging signal is not the same thing as a confirmed bottom. “This could be the case again, but caution is warranted,” the analyst wrote, adding that if Bitcoin “continues to slide and fully enters a bear market,” OI could “contract further,” pointing to “deeper deleveraging and a potential extension of the correction.”

Bitcoin Sellers Are Losing Momentum Alongside the open interest reset, Darkfost pointed to a sharp drop in futures-driven selling pressure, using Net Taker Volume — a measure intended to capture who is dominating futures order books.

“Selling pressure on BTC coming from the futures market is sharply declining,” Darkfost wrote, noting that after the monthly average hit “–$489M” at its peak, the figure has now been “divided by ten.” “At the moment, sellers still slightly dominate the order books, with –$51M,” the analyst added.

Bitcoin Net Taker Volume | Source: X @Darkfost_Coc The key nuance is that the indicator has not flipped, but it is moving in that direction. “We have not yet returned to positive territory, but we are getting closer,” Darkfost wrote. “It is very encouraging to see traders starting to change their approach, especially given the significant impact futures volumes have on price action. Notably, since this decline in selling pressure began, BTC price action has also stabilized.”

For the “bottom thesis” to graduate into a more forceful reversal call, Darkfost anchored the trigger to that sign change: “If Net Taker Volume were to turn positive again, it would clearly ignite the fuse for a bullish reversal.”

At press time, BTC traded at $95,131.

Bitcoin reclaims the 0.618 Fib, 1-week chart | Source: BTCUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com

The Zcash Foundation announced that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into the organization. This development was revealed in a blog post on Wednesday. The end of this inquiry marks a significant moment for the foundation, which has been under scrutiny for several years. The closure of the probe suggests that no further action will be taken against the foundation at this time.

The investigation, which spanned several years, focused on the foundation’s involvement with the cryptocurrency Zcash. Zcash is a digital currency known for its privacy features, allowing transactions to be concealed from public view. The foundation supports the development and adoption of Zcash technology, aiming to provide a decentralized and secure economic platform. The SEC’s inquiry into the foundation reflects the broader regulatory interest in ensuring compliance with securities laws in the cryptocurrency sector.

Cryptocurrencies have attracted significant attention from regulators worldwide due to their rapid growth and the complexities they introduce to traditional financial systems. In the United States, the SEC has been at the forefront of regulating this industry, focusing on aspects such as investor protection and market integrity. Cases involving cryptocurrencies often revolve around issues like whether certain digital assets should be classified as securities, which subjects them to specific regulatory requirements.

The Zcash Foundation’s relief at the closure of the SEC’s inquiry is understandable, as prolonged regulatory investigations can be resource-intensive and affect organizational operations. The foundation’s blog post did not disclose specific details about the investigation’s findings or any agreements that may have been reached with the SEC. This is typical in similar cases, where the specifics of regulatory investigations remain confidential.

An understanding of the structure and function of cryptocurrencies like Zcash is essential in grasping the context of such regulatory probes. Cryptocurrencies operate on distributed ledger technology, which ensures transparency and security. Zcash distinguishes itself by offering enhanced privacy through cryptographic techniques that hide transaction details. This privacy feature has sparked debate among regulators, as it can conflict with financial transparency requirements.

Exchange-traded funds (ETFs) have become increasingly popular as financial instruments that track the performance of specific assets. In the realm of cryptocurrencies, there is growing interest in developing ETFs that include digital assets. The SEC’s approval process for such products typically involves rigorous scrutiny to ensure they meet regulatory standards for protecting investors and maintaining fair market conditions.

Regulators like the SEC emphasize several key factors when evaluating cryptocurrency-related cases. These include ensuring that there is adequate custody of assets, maintaining the integrity of the market, and implementing measures for effective surveillance-sharing. Disclosures and investor protection are also prioritized to prevent fraud and protect market participants.

The institutional landscape around cryptocurrencies is evolving, with major banks and asset managers exploring ways to incorporate these digital assets into their offerings. This interest is largely driven by client demand for diversified investment options and the potential for generating fee-based revenue. Institutional involvement in cryptocurrencies is seen as a way to provide access to these assets through regulated financial products.

However, the cryptocurrency market faces challenges, such as volatility, liquidity conditions, and regulatory uncertainty. These factors contribute to market risks, impacting the value and stability of digital assets. Tracking error and operational risks present further challenges for institutions involved in cryptocurrency investments.

The competitive landscape for cryptocurrency products is dynamic. Multiple issuers often file for similar products, such as ETFs, resulting in a complex environment where timelines can be uncertain and amendments to filings are common. The approval process involves various stages, including review periods and requests for public comment, which can influence the outcome of an application.

Moving forward, stakeholders in the cryptocurrency sector will be closely monitoring regulatory developments and their implications for digital assets. The SEC’s decisions regarding such investigations and product approvals will continue to shape the future trajectory of cryptocurrencies. The closure of the Zcash Foundation’s investigation is a notable instance in this ongoing regulatory journey.

The SEC’s conclusion of its probe into the Zcash Foundation highlights the ongoing interaction between regulatory bodies and the evolving cryptocurrency landscape. As the industry continues to develop, market participants will be keenly observing how regulatory frameworks adapt to accommodate the unique characteristics of digital assets.

Post Views: 1

, /PRNewswire/ -- Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired CoreWeave, Inc. (NASDAQ: CRWV) securities between March 28, 2025 and December 15, 2025. CoreWeave purports to be an artificial intelligence ("AI") cloud computing company and self-described "Hyperscaler", which it defines as "a cloud provider or technology company that is capable of delivering computing infrastructure and services at massive scale, typically through large data centers and geographically distributed networks."

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that CoreWeave, Inc. (CRWV) Misled Investors Regarding its Ability to Accommodate Customer Demand  

According to the complaint, defendants failed to disclose to investors that: (i) defendants had overstated CoreWeave's ability to meet customer demand for its service; (ii) defendants materially understated the scope and severity of the risk that CoreWeave's reliance on a single third-party data center supplier presented for CoreWeave's ability to meet customer demand for its services; and (iii) the foregoing was reasonably likely to have a material negative impact on the Company's revenue.

A series of disclosures revealing the truth resulted in a decline in CoreWeave's stock price. From a high of $183.58 on June 20, 2025, the stock closed at $69.50 per share on December 16, 2025.

What Now: You may be eligible to participate in the class action against CoreWeave, Inc. Shareholders who wish to serve as lead plaintiff for the class must submit their papers to the court by March 13, 2026. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses. 

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. 

To be notified if a class action against CoreWeave, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising.  Past results do not guarantee a similar outcome.  

SOURCE Robbins LLP

VANCOUVER, BC / ACCESS Newswire / January 14, 2026 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company") is pleased to announce that Stephen Meyer has been appointed to its Board of Directors (the "Board") and as Chair of the Company's Audit and Risk Committee of the Board to replace Christian Milau, who resigned from the Board in September 2025.

Mr. Meyer is President and CEO of a private equity real estate firm that manages investment offerings which primarily invest in distressed assets and mortgages as well as residential and commercial real estate opportunities throughout the United States. He has over 30 years of experience in investment management services and is a Board Member of Quicken Inc., a financial technology company specializing in personal finance software.

The Company also announces that with this appointment it has rectified the non-compliance with the NYSE American rules described in its December 5, 2025 news release and, accordingly, the Company is once again in compliance with the NYSE American corporate governance rules.

About Northern Dynasty Minerals Ltd.

Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada. Northern Dynasty's principal asset, owned through its wholly owned Alaska-based U.S. subsidiary, Pebble Limited Partnership, is a 100% interest in a contiguous block of 1,840 mineral claims in Southwest Alaska, including the Pebble deposit, located 200 miles from Anchorage and 125 miles from Bristol Bay. The Pebble Partnership is the proponent of the Pebble Project.

For further details on Northern Dynasty and the Pebble Project, please visit the Company's website at www.northerndynastyminerals.com or contact Investor services at (604) 684-6365 or within North America at 1-800-667-2114. Public filings, which include forward looking information cautionary language and risk factor disclosure regarding the Company and the Pebble Project can be found in Canada at www.sedarplus.ca and in the United States at www.sec.gov.

Ronald W. Thiessen
President & CEO

U.S. Media Contact:
Dan Gagnier, Gagnier Communications (646) 569-5897

Forward Looking Information and other Cautionary Factors

This document includes certain statements that may be deemed "forward-looking statements" under the United States Private Securities Litigation Reform Act of 1995 and under applicable provisions of Canadian provincial securities laws. All statements in this document, other than statements of historical facts, which address the timing and future composition of the Board and its Audit and Risk Committee are forward-looking statements. Additional forward looking statements made by the Company under its continuous disclosure obligations include statements regarding (i) the development plan for the Pebble Project (ii) the right-sizing and de-risking of the Pebble Project, (iii) the design and operating parameters for the Pebble Project development plan, including projected capital and operating costs, (iv) the social integration of the Pebble Project into the Bristol Bay region and benefits for Alaska, (v) the political and public support for the permitting process, (vi) the ability of the Pebble Project to ultimately secure all required federal and state permits, (vii) the ability of the Company and/or the State of Alaska to challenge the EPA's Final Determination process under the Clean Water Act and ultimately the USACE's Record of Decision ("USACE ROD") through legal actions; (viii) exploration potential of the Pebble Project, (ix) future demand for copper, gold and other metals, (x) if permitting is ultimately secured, the ability to demonstrate the Pebble Project is ultimately commercially viable, and (xi) the potential addition of partners in the Pebble Project. Although NDM believes the expectations expressed in these forward-looking statements are based on reasonable assumptions, such statements should not be in any way be construed as guarantees that the Pebble Project will secure all required government permits or regarding the ability of NDM to develop the Pebble Project in light of the USACE ROD and its subsequent remand decision and the EPA's Final Determination, establish the commercial feasibility of the Pebble Project, achieve the required financing or develop the Pebble Project.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by NDM as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Assumptions used by NDM to develop forward-looking statements include the assumptions that (i) the Pebble Project will obtain all required environmental and other permits and all land use and other licenses without undue delay, (ii) any feasibility studies prepared for the development of the Pebble Project will be positive, (iii) NDM's estimates of mineral resources will not change, and NDM will be successful in converting mineral resources to mineral reserves, (iv) NDM will be able to establish the commercial feasibility of the Pebble Project, and (v) NDM will be successful in its legal action against the EPA and the USACE and any action taken by the EPA in connection with the Final Determination will ultimately not be successful in restricting or prohibiting development of the Pebble Project.

In addition, the likelihood of future mining at the Pebble Project is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including (i) the current development plan may not reflect the ultimate mine plan for the Pebble Project, (ii) obtaining necessary mining and construction permits, licenses and approvals without undue delay, including without delay due to third party opposition or changes in government policies, (iii) finalization of the mine plan for the Pebble Project, (iv) the completion of feasibility studies demonstrating that any Pebble Project mineral resources that can be economically mined, (v) completion of all necessary engineering for mining and processing facilities, (vi) the ability of NDM to secure a partner for the development of the Pebble Project, and (vi) receipt by NDM of significant additional financing to fund these objectives as well as funding mine construction. NDM is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. Investors should also consider the risk factors identified in the Company's Annual Information Form for the year ended December 31, 2024, as filed on SEDAR+ (www.sedarplus.ca) and included in its annual report on Form 40-F filed on EDGAR (www.sec.gov), as well as the risk factors set out in the Company's subsequent public continuous disclosure filings available on SEDAR+ and EDGAR. For more information on the Company, Investors should review the Company's filings with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedarplus.ca.

The National Environment Policy Act Environmental Impact Statement process requires a comprehensive "alternatives assessment" be undertaken to consider a broad range of development alternatives, the final project design and operating parameters for the Pebble Project and associated infrastructure may vary significantly from that currently contemplated. As a result, the Company will continue to consider various development options and no final project design has been selected at this time.

SOURCE: Northern Dynasty Minerals Ltd.

November’s Advance Retail Sales Report from the Census Bureau showed a pickup in consumer spending. Headline sales were up 0.6%, up from -0.1% pullback in October and above the projected 0.5% growth.

For an inflation-adjusted perspective on retail sales, take a look at our Real Retail Sales commentary.

Here is the introduction from today’s report:

Advance Estimates of U.S. Retail and Food Services
Advance estimates of U.S. retail and food services sales for November 2025, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $735.9 billion, up 0.6 percent (±0.4 percent) from the previous month, and up 3.3 percent (±0.5 percent) from November 2024. Total sales for the September 2025 through November 2025 period were up 3.6 percent (±0.4 percent) from the same period a year ago. The September 2025 to October 2025 percent change was revised from virtually unchanged (±0.5 percent)* to down 0.1 percent (±0.2 percent)*.

Retail trade sales were up 0.6 percent (±0.5 percent) from October 2025, and up 3.1 percent (±0.5 percent) from last year. Nonstore retailers were up 7.2 percent (±1.2 percent) from last year, while food service and drinking places were up 4.9 percent (±1.8 percent) from November 2024.

The chart below is a log-scale snapshot of retail sales since the early 1990s. The three exponential regressions through the data help us to evaluate the long-term trend of this key economic indicator.

The light purple line is a linear regression through the complete data series. The green line is a regression from the start of the series through the end of 2007 and then extrapolated to the present – thus excluding the Financial Crisis. The blue line is a regression from the start of the series through the end of 2019 and then extrapolated to the present – thus excluding the COVID-19 pandemic. Monthly retail sales have been above the light purple and blue line since March 2021, signaling increased consumer spending that was most likely pent up as a result of the pandemic.

The year-over-year percent change provides another perspective on the historical trend. Current retail sales are up 3.3% compared to one year ago. Here is the headline series with a callout to the most recent 12 months.

Core Retail Sales Core sales (ex Autos) were up 0.5% in November. This is up from October’s 0.2% reading and was higher than the expected 0.4% growth.

Core retail sales are up 4.3% compared to one year ago. Here is the year-over-year chart of core retail sales with a callout to the most recent 12 months.

Retail Sales: “Control” Purchases

The next two charts illustrate retail sales “control” purchases, which is an even more “core” view of retail sales. This series excludes motor vehicles & parts, gasoline, building materials as well as food services & drinking places. The popular financial press typically ignores this series, but it’s a more consistent and reliable reading of the economy. Retail sales control purchases rose 0.3% in November. This is down from October’s 0.7% reading and was lower than the expected 0.4% growth in control sales.

Similar to the retail sales snapshot chart earlier, the chart below is a log-scale snapshot of control purchases since the early 1990s and includes two of the exponential regressions previously mentioned.

Here is the same series year-over-year. Current control purchases are up 5.1% compared to one year ago.

For a better sense of the reduced volatility of the “control” series, here is a YoY overlay with the headline retail sales. Note that the two series follow each other closely, but headline sales have more extreme highs and lows than the control series.

Retail sales will impact interest in the SPDR S&P Retail ETF (XRT), VanEck Retail ETF (RTH), Amplify Online Retail ETF (IBUY), and ProShares Online Retail ETF (ONLN).

vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for IBUY for which it receives an index licensing fee. However, IBUY is not issued, sponsored, endorsed, or sold by VettaFi. VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of IBUY.

Originally published on Advisor Perspectives.

For more news, information, and strategy, visit the Beyond Basic Beta Channel.

Earn free CE credits and discover new strategies

Only a few weeks into 2026, there are already plenty of macroeconomic factors for advisors and investors to keep a close eye on. 

Both domestic and geopolitical headlines from the federal government can cause one’s portfolio to shift, be it in a positive or negative direction. And that’s before advisors even consider how interest rate policy and the independence of the Federal Reserve can further move the needle. Indeed, in recent days the executive branch has begun to threaten the independence of the Fed once more. Plus, all of this is playing out while inflation worries bubble in the backline.

The Fed Subpoenaed: What Comes Next In a recent Office Hours session, titled “Trump, the Fed, and Other Key 2026 Storylines” the experts at WisdomTree broke down what advisors should be aware of in regards to the biggest drivers of 2026’s market. To get things rolling, WisdomTree first addressed the recent news that the Department of Justice has subpoenaed the Federal Reserve. 

Kevin Flanagan, WisdomTree head of fixed income strategy, evaluated how these unexpected developments are affecting advisors and investors alike. To start, Flanagan noted that some voices in the room urge against pressuring the Fed in this manner. Those include Treasury Secretary Scott Bessent and some members of the Senate Banking Committee.

“I think cooler heads are prevailing at this stage of the game, but that doesn’t mean that the notion of questioning the Fed’s independence is going to go away over the next three years,” Flanagan assessed.

In terms of how the market is responding, Flanagan observed that the markets obviously pulled back when the news first broke. However, as this story develops, Flanagan expects more advisors and traders to adopt a wait-and-see mindset until more clarity is established.

For the Fed’s future, Flanagan anticipated that Powell would finish out his term as chair of the Federal Reserve. However, as Flanagan pointed out, that brings up another question. Will Powell stay on as a governor until 2028? Given how fast the news cycle is moving these days, it may be too soon to tell. However, it’s certainly something advisors should be keeping in mind. 

How Accurate Is the CPI? Beyond what’s going on at the Federal Reserve, many remain concerned about where the inflation outlook stands for the U.S. markets. Jeremy Schwartz, WisdomTree global chief investment officer, took a look at how the U.S. government’s inflation data may be less accurate than advisors realize. 

Schwartz explained WisdomTree’s longstanding belief that the Bureau of Labor Statistics uses a “very stale” method for calculating shelter data for the Consumer Price Index (CPI), potentially making the longstanding inflation measure an unreliable barometer. Instead of using lagging data like the BLS does, the WisdomTree team looks to utilize more real-time data, which can create a different picture of where inflation sits. 

Regardless of where the real inflation numbers lie, Schwartz asserted that advisors and investors remain underexposed to commodities, especially gold. There are plenty of opportunities across the broad spectrum of commodities, both to hedge against inflation and to capitalize on potential long-term gains. 

Opportunities in the Japanese Market Commodities aren’t the only investments worth a closer look. Among the many ETFs highlighted during the webcast, the WisdomTree team showcased the WisdomTree Japan Opportunities Fund (OPPJ) as a potentially compelling choice for 2026.  

To start, Japanese equities may already be worth a closer look as the country enters a much more positive economy than recent years, bolstered by more favorable fiscal policy. Moderate inflation and an expected increase in disposable income countrywide makes Japanese companies a potentially good buy right now.

OPPJ offers an opportunity for investors to buy into the Japanese companies that WisdomTree believes represent the best opportunities at the moment. The fund invests in companies from four different buckets: Japanese companies held by Berkshire Hathaway; companies with high shareholder yield; companies with low valuation ratios and strong growth and earnings potential; and lastly, thematic picks. This balanced approach gives OPPJ a well-balanced view of the different companies within the Japanese economy.

OPPJ is just one of many funds that could offer a compelling route to navigate the uncertainty of the 2026 U.S. markets. Looking ahead, advisors should remain nimble, and when in doubt, lean on the perspective of market experts in order to find the best path forward. 

Originally published on Advisor Perspectives

This article was prepared as part of WisdomTree’s general paid sponsorship of VettaFi | ETF Trends. This specific content within and any opinions expressed therein belong solely to VettaFi and do not reflect the opinion or analysis of WisdomTree, its employees, or its affiliates. Content published on VettaFi | ETF Trends is provided for educational purposes only and should not be considered investment or tax advice. For investment or tax advice, please consult a financial professional. 

WisdomTree is an independent company, unaffiliated with VettaFi | ETF Trends. WisdomTree has not been involved with the preparation of the content supplied by VettaFi | ETF Trends. It does not guarantee, or assume any responsibility for its content.

For more news, information, and strategy, visit the Modern Alpha Content Hub.

Earn free CE credits and discover new strategies

AbbVie Inc. (ABBV) Presents at 44th Annual J.P. Morgan Healthcare Conference Transcript

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

The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock, you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.

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

Carter Worth, Worth Charting, joins 'Fast Money' to talk the technicals on the tech trade.

Crude oil prices initially rose amid protests in Iran, but have since failed to rally. CBIC Private Wealth senior energy trader, Rebecca Babin, joins Market Domination Overtime host Josh Lipton to explain why oil reacted differently after geopolitical tensions in Venezuela broke out.

Vancouver, British Columbia and Johannesburg, South Africa--(Newsfile Corp. - January 14, 2026) - Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group", "PTM" or the "Company") reports the Company's financial results for the first fiscal quarter of fiscal 2026 dated November 30, 2025, and provides an update and outlook. The Company's material property is the Waterberg project located on the Northern Limb of the Bushveld Complex in South Africa (the "Waterberg Project"). The Waterberg Project is planned as a fully mechanised, shallow, decline access platinum, palladium, rhodium and gold ("4E" or "PGM") mine, including by-product copper and nickel production, and is projected to be one of the largest and lowest cost underground platinum group metals ("PGM" or "PGMs") mines globally. The Company's near-term objectives are to advance the Waterberg Project to a development and construction decision, including the arrangement of construction financing and concentrate offtake agreements.

For details of the condensed consolidated interim financial statements for the three months ended November 30, 2025 (the "Financial Statements") and Management's Discussion and Analysis ("MD&A") for the three months ended November 30, 2025, please see the Company's filings on SEDAR+ (www.sedarplus.ca) or on EDGAR (www.sec.gov). Shareholders are encouraged to visit the Company's website at www.platinumgroupmetals.net. Shareholders may receive a hard copy of the complete Financial Statements and MD&A from the Company free of charge upon request.

All amounts herein are reported in United States dollars unless otherwise specified. The Company holds cash in Canadian dollars, United States dollars and South African Rand. Changes in exchange rates may create variances in the cash holdings or results reported.

Project Ownership

As of November 30, 2025, the Waterberg Project is owned by Waterberg JV Resources (Pty) Ltd. ("Waterberg JV Co."), which is in turn owned by Platinum Group (37.32%), Mnombo Wethu Consultants Proprietary Limited ("Mnombo") (26.0%), HJ Platinum Metals Company Ltd. ("HJM") (21.95%) and Impala Platinum Holdings Ltd. ("Implats") (14.73%). Platinum Group holds a further 12.97% indirect interest in Waterberg JV Co. through a 49.9% interest in Mnombo.

HJM was established in 2023 by Japan Organization for Metals and Energy Security ("JOGMEC") and Hanwa Co. Ltd. ("Hanwa") as a special purpose company to hold and fund their aggregate future equity interests in the Waterberg Project. The combined Waterberg JV Co. ownership of JOGMEC (12.195%) and Hanwa (9.755%) were consolidated into a 21.95% interest for HJM going forward, with JOGMEC to fund 75% of future equity investments into HJM and Hanwa the remaining 25%.

In calendar 2023, Implats implemented a group wide restriction on capital expenditures. As a result, since early 2024, Implats has not funded their share of Waterberg Project cash calls and their interest in Waterberg JV Co. has diluted by approximately 0.27%. Platinum Group has funded Implats' shortfall and the Company's direct interest in Waterberg JV Co. has increased concurrently with Implats' dilution. Implats has elected not to fund the most recent Waterberg JV Co. cash call and will be further diluted to a 14.625% ownership interest on January 31, 2026.

Recent Events

On September 17, 2025, the board of directors of Waterberg JV Co. unanimously approved a sixth stage of work in the amount of Rand 92.1 million (approximately $5.11 million at the time) for fiscal year 2026 ("Stage Six Budget"), to allow for the continuation of work programs underway. The Stage Six Budget was subsequently approved by a consent resolution of the requisite majority shareholders on September 26, 2025. The interim budget covers the period ending August 31, 2026, and includes some components of a $21.0 million pre-construction work program approved in principle for the Waterberg Project by the directors and shareholders of Waterberg JV Co. on October 18, 2022 (the "Pre-Construction Program").

On May 29, 2025, Platinum Group reported the closing of a non-brokered private placement of common shares of the Company ("Common Shares") at a price of $1.26 per Common Share. An aggregate of 800,000 Common Shares were subscribed for and issued to existing major beneficial shareholder, Hosken Consolidated Investments Limited ("HCI") through its subsidiary Deepkloof Limited, resulting in gross proceeds to the Company of $1.0 million (the "Private Placement"). Closing of the Private Placement allowed HCI to return to a 26% interest in the Company at that time.

On February 18, 2025, the board of directors for Waterberg JV Co. unanimously approved a Rand 42 million interim budget (approximately $2.27 million at the time) to allow the continuation of work programs for the Waterberg Project. The interim budget covered the period ending August 31, 2025, and included some components of the Pre-Construction Program.

On December 5, 2024, the Company entered into an Equity Distribution Agreement with BMO Nesbit Burns Inc. and Beacon Securities Limited (the "Canadian Agents") and BMO Capital Markets Corp. (the "U.S. Agent" and together with the Canadian Agents, the "Agents") for a new at-the-market equity program (the "2025 ATM") to distribute up to $50.0 million (or the equivalent in Canadian dollars) of Common Shares (the "Offered Shares"). The Offered Shares will be issued by the Company to the public from time to time, through the Agents, at the Company's discretion. The Offered Shares sold under the 2025 ATM will be sold at the prevailing market price at the time of sale. The net proceeds of any such sales will be used for pre-construction site work, engineering and preparation, a potential first phase development program at the Waterberg Project, smelter and base metal refinery studies, a contingency provision and general, corporate and administrative expenses. Sales of Common Shares on the NYSE American pursuant to the 2025 ATM through the U.S. Agent commenced on January 22, 2025, and during the three month period ended November 30, 2025, 4,115,014 Common Shares were sold at an average price of $2.45 for gross proceeds of $10.09 million before directly attributable costs of $0.25 million. From January 22, 2025, to the date of this news release, the Company has sold an aggregate of 19,331,648 Common Shares at an average price of $2.07 for gross proceeds of $40 million before deducting directly attributable costs paid to the Agents of $1.0 million.

On November 13, 2024, the Company filed a final short form base shelf prospectus (the "Shelf Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada and a corresponding registration statement on Form F-10 (the "Registration Statement") with the U.S. Securities and Exchange Commission ("SEC"), under the Multijurisdictional Disclosure System established between Canada and the United States. Pursuant to the Shelf Prospectus and the Registration Statement, the Company may offer and sell Common Shares, debt securities, warrants, subscription receipts, or a combination thereof up to an aggregate initial offering amount of $250 million (or its equivalent in Canadian dollars) from time to time, separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering and as set out in an accompanying prospectus supplement, during the 25-month period that the Shelf Prospectus and the Registration Statement remain effective.

On September 16, 2024, the Company reported positive results from an Independent Definitive Feasibility Study Update (the "Waterberg DFS Update") for the Waterberg Project. The associated technical report entitled "Waterberg Definitive Feasibility Study Update, Bushveld Igneous Complex, Republic of South Africa", with an effective date of August 31, 2024, was filed on SEDAR+ on October 9, 2024. The Waterberg DFS Update was prepared by independent qualified persons in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and Subpart 229.1300 and Item 601(b)(96) of the SEC's Regulation S-K (collectively, "S-K 1300"). The Waterberg DFS Update included revised mineral resource and mineral reserve estimates. For details of the Waterberg DFS Update see the Company's news release dated September 16, 2024, the MD&A, and the technical report referred to above.

Results For the Period Ended November 30, 2025

During the three months ended November 30, 2025, the Company incurred a net loss of $1.84 million (November 30, 2024 - net loss of $1.84 million). General and administrative expenses during the period were $1.08 million (November 30, 2024 - $1.24 million). Share based compensation was $1.13 million (November 30, 2024 - $0.72 million). The foreign exchange gain recognized in the current period was $0.23 million (November 30, 2024 - $0.10 million) due primarily to the U.S. Dollar increasing in value relative to the Canadian Dollar during the period.

At November 30, 2025, finance income consisting of interest earned in the three month period amounted to $0.20 million (November 30, 2024 - $0.06 million). Basic and diluted loss per share for the three months ended November 30, 2025, was $0.02 (November 30, 2024 - $0.02).

Accounts receivable at November 30, 2025, totalled $0.12 million (August 31, 2025 - $0.08 million) while accounts payable and other liabilities amounted to $0.51 million (August 31, 2025 - $0.78 million). Accounts receivable was comprised primarily of value added taxes repayable to the Company in South Africa. Accounts payable consisted primarily of accruals and payables related to accounting costs, legal costs and project engineering and maintenance costs on the Waterberg Project.

Total expenditures on the Waterberg Project, before partner reimbursements, for the three month period ended November 30, 2025, were approximately $0.55 million (November 30, 2024 - $0.61 million). At period end, $51.2 million (November 30, 2024 - $46.85 million) in accumulated net costs were capitalized to the Waterberg Project. Total expenditures on the property since inception to November 30, 2025, are approximately $91.6 million.

For more information on mineral properties, see Note 3 of the Financial Statements.

Outlook

The Company's primary business objective is to advance the Waterberg Project to a development and construction decision. PTM is the operator of the Waterberg Project.

Approximately one half of the $21.0 million Pre-Construction Program described above remains to be completed, including proposed work on initial road access, water supply, essential site facilities, a first phase accommodation lodge, a site construction power supply and advancement of the Waterberg Social & Labour Plan ("SLP"). Remaining components are being undertaken in phases as incremental budgets are approved. The Stage Six Budget allows for the continuation of this work during the period ending August 31, 2026.

Ideally, arrangements for Waterberg Project concentrate offtake or processing would be in place before a construction decision is undertaken. The Company and Waterberg JV Co. are assessing commercial alternatives for mine development financing and concentrate offtake. As a part of the Company's investigation of smelting and base metal refining options, the Company has engaged in discussions with all South African integrated producers, including Implats, with a view to negotiating formal concentrate offtake arrangements for the Waterberg Project. To date no terms have been agreed. As an alternative, over the past three years the Company has studied and proposed the establishment of smelter and base metal refinery facilities located in either Saudi Arabia or South Africa.

Before any processing of materials in Saudi Arabia could occur, South African Government authorization for the export of concentrate or matte would be required and such approval has been requested. Senior South African Government officials have stated their preference for beneficiation to occur in South Africa. The Company is also investigating opportunities to collaborate and co-invest with smaller furnace operators in South Africa who are interested to modify and expand their existing operations such that the efficient processing of Waterberg concentrate could be undertaken. In such a scenario the Waterberg Project could be developed in stages so that smelting capacity could also be developed in stages.

The base case for mine development in the Waterberg DFS Update is focused first on lower cost, bulk mining of F-Zone material from the F-Central deposit, followed by later mining from the T-Zone. Although no decision has been made to alter the base case scenario, given the current price and outlook for gold, one concept being investigated is to begin staged development at the Waterberg Project, first with decline development into the T-Zone, followed by smaller scale T-Zone mining and then later expansion into the F-Central deposit at the scale planned in the Waterberg DFS Update. As compared to F-Central ore, proven and probable reserves for the T-Zone have a more favourable 4E prill split of approx. 29% platinum (28% F-Central), 51% palladium (66% F-Central), 1% rhodium (1% F-Central) and 19% gold (5% F-Central). T-Zone proven and probable reserves also have a higher 4E grade of 3.84 g/t (2.68 g/t F-Central).

The F-Central deposit, with true mining widths (hanging wall to footwall) of up to 107 metres, and with approximately 87% of production planned from mining widths more than 15 metres, is very favourable to low-cost bulk mining. The T-Zone, with approximately 92% of production planned from mining widths between 2.4 metres and 15 metres, and 8% from areas up to 20 metres thick, also allows for bulk mining (being longitudinal longhole stoping) albeit at a higher cost per tonne versus the F-Central deposit.

At current metal prices, increased revenue per tonne from mining the T-Zone would more than offset higher mining costs, and may allow for a lower capex, staged development approach as described above. Internal studies are examining the financial impact of deferring capital for power lines, paste backfill, milling capacity, and underground conveyors, while first operating a T-Zone mine before using free cash flow to then develop a second stage F-Central mine. T-Zone ore and waste can be trucked to surface for processing during initial mining stages, allowing for a shortened ore build-up period and a reduced capital footprint in both underground development and other underground infrastructure requirements.

The Company continues to work closely with regional and local communities and their leadership on mine development plans to achieve optimal outcomes and best value to all stakeholders. A new five year SLP commencing in 2026 has been developed with community input and submitted to the DMR for review and approval.

The Company continues to advance an initiative through Lion Battery Technologies Inc. ("Lion") using platinum and palladium in lithium battery technologies in collaboration with an affiliate of Valterra Platinum Limited (previously Anglo American Platinum Limited) ("Valterra") and Florida International University. The investment in Lion creates a potential vertical integration with a broader industrial market development strategy to bring new technologies to market utilising the catalytic properties of platinum and palladium. The Company and Valterra are currently assessing progress to date and potential next steps towards the commercialisation and promulgation of the developed technology. For more detail, please see the Company's MD&A and current Annual Information Form ("AIF") and Form 40-F.

Environmental, Social and Governance

Platinum Group recently received the 2025 annual Environmental, Social and Governance ("ESG") disclosure report from Digbee Ltd. ("Digbee"), a United Kingdom based company that has developed an industry standard ESG disclosure framework for the mining sector providing a right-sized, future looking set of frameworks against which they can credibly disclose, track, compare and improve their ESG performance. For 2025, Platinum Group achieved an overall score of BBB with a range of CC to AAA based on the information provided. Digbee ESG has been developed in consultation with mining companies, ESG specialists and capital providers and is endorsed by leading financial institutions, producing mining companies and other industry stakeholders. Digbee's reporting framework is aligned with global standards, including the Equator Principles. For more details about the Company's 2025 Digbee ESG Report please refer to the Company's MD&A, AIF and Form 40-F.

Regulatory

As well as the discussions within this news release, the reader is encouraged to also see the Company's disclosure made under the heading "Risk Factors" in the Company's current AIF and Form 40-F.

Qualified Person

Rob van Egmond, P.Geo., a consultant geologist to the Company and a former employee, is an independent qualified person as defined in NI 43-101. Mr. van Egmond has reviewed, validated and approved the scientific and technical information contained in this news release and has previously visited the Waterberg Project site.

About Platinum Group Metals Ltd. and the Waterberg Project

Platinum Group Metals Ltd. is the operator of the Waterberg Project, a bulk underground PGM and base metal deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly developed with Mnombo, HJM and Implats.

On behalf of the Board of
Platinum Group Metals Ltd.

Frank R. Hallam
President, CEO and Director

For further information contact:
Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net

Disclosure

The TSX and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

This news release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "may", "plans", "would", "will", "could", "can", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the success of the Company's objective to advance the Waterberg Project to a development and construction decision, the findings of the Waterberg DFS Update, the plan for and development of the Waterberg Project and the potential benefits and results thereof including that it is projected to become one of the largest and lowest cost underground PGM mines globally, financing and mine development of the Waterberg Project, potential commercial alternatives for mine development, sequencing of development activities, potential alternatives to the existing Waterberg Project development plan and any related economic analysis, obtaining concentrate offtake or processing, the size and cost of the Waterberg Project, the economic feasibility of establishing a new PGM smelter and BMR in Saudi Arabia or elsewhere, work with local communities, the ability of the Company to obtain all required permitting, surface access, and infrastructure servitudes, the effect of battery electric vehicles on the market for PGMs, the use of PGMs in solutions to climate change, and the Company's other future plans and expectations. Although the Company believes any forward-looking statements in this news release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements as a result of various factors, including rising global inflation and increased potential supply chain disruptions; the impact of international trade disputes and the imposition of tariffs, international conflict and other geopolitical tensions and events; the Company's inability to generate sufficient cash flow or raise additional capital, and to comply with the terms of any new indebtedness; additional financing requirements; and any new indebtedness may be secured, which potentially could result in the loss of any assets pledged by the Company; the Company's history of losses and negative cash flow; the Company's properties may not be brought into a state of commercial production; uncertainty of estimated production, development plans and cost estimates for the Waterberg Project as reported in the Waterberg DFS Update; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; fluctuations in the relative values of the U.S. Dollar, the South African Rand and the Canadian Dollar; volatility in metals prices; the uncertainty of alternative funding sources for Waterberg JV Co.; the Company may become subject to the U.S. Investment Company Act; the failure of the Company or the other shareholders to fund their pro rata share of funding obligations for the Waterberg Project; any disputes or disagreements with the other shareholders of Waterberg JV Co. or Mnombo; the ability of the Company to retain its key management employees and skilled and experienced personnel; conflicts of interest; litigation or other administrative proceedings brought against the Company; actual or alleged breaches of governance processes or instances of fraud, bribery or corruption; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada and South Africa; equipment shortages and the ability of the Company to acquire necessary access rights and infrastructure for its mineral properties; environmental regulations and the ability to obtain and maintain necessary permits, including environmental authorizations and water use licences; extreme competition in the mineral exploration industry; delays in obtaining, or a failure to obtain, permits necessary for current or future operations or failures to comply with the terms of such permits; risks of doing business in South Africa, including but not limited to, labour, economic and political instability and potential changes to and failures to comply with legislation; pandemics and other public health crises; the Company's common shares may be delisted from the NYSE American or the TSX if it cannot maintain compliance with the applicable listing requirements; and other risk factors described in the Company's most recent AIF and Form 40-F, other filings with the SEC and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedarplus.ca, respectively. Proposed changes in the mineral law in South Africa, if implemented as proposed, may have a material adverse effect on the Company's business and potential interest in projects. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether because of new information, future events or results or otherwise.

The Waterberg DFS Update has been prepared in accordance with NI 43-101 and S-K 1300. The technical and scientific information contained in this news release has been prepared in accordance with NI 43-101, which differs from the standards adopted by the SEC. Accordingly, the technical and scientific information contained in this news release, including any estimates of mineral reserves and mineral resources, may not be comparable to similar information disclosed by U.S. companies subject to the disclosure requirements of the SEC.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280264

Source: Platinum Group Metals Ltd.

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

Sorry, Nvidia. Google is the new AI market darling.

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

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

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

Broadcom maintains a "Strong Buy" rating, driven by robust AI-fueled growth and impressive Q4 results. AI semiconductor sales surged 74%, propelling total sales up 28% and operating income up 62%, with gross margins expanding to 68%. Q1 guidance calls for 28% sales growth to $19.1 billion, with AI semiconductor sales expected to double and EBITDA margins at 67%.

Ono Pharmaceutical Co., Ltd. (OPHLY) 44th Annual J.P. Morgan Healthcare Conference January 14, 2026 2:15 PM EST

Company Participants

Toichi Takino - President, COO & Representative Director

Conference Call Participants

Seiji Wakao - JPMorgan Chase & Co, Research Division

Presentation

Seiji Wakao
JPMorgan Chase & Co, Research Division

Good morning. Welcome to the JPMorgan Healthcare Conference. I'm Seiji Wakao, Japan Pharma Analyst at JPMorgan. And it's my pleasure to introduce Takino-san, CEO of Ono Pharmaceutical, and welcome him to the conference. Takino-san, please go ahead.

Toichi Takino
President, COO & Representative Director

Thank you, Wakao-san, and hello, everyone. Let me start a brief introduction. I'm Toichi Takino, President and COO of Ono Pharma from Osaka, Japan and very much honored to be here to make a presentation at this JPMorgan conference. This is a great opportunity to introduce our company, Ono, as one of the attractive companies with high potential for future growth, we believe. Today, starting from quick corporate overview, I will touch on our promising growth drivers from our development pipelines together with our future outlook.

This is forward-looking statements. And now starting from brief corporate introduction. By the way, this is our main research campus between Kyoto and Osaka. Nice picture, isn't it? Ono's history goes back to all the way, 1717. And this year marks our indeed 309th year. Over its long-term history, Ono has created numerous innovative medicines, including more than 10 prostaglandin-related products from around 50 years ago and the first in the world PD-1 antibody, OPDIVO launched almost 10 years ago.

So while we traditionally focused on Japan or Asian markets, in the past, Ono is now expanding beyond Asia to global markets. In 2024, we acquired U.S. biotech Deciphera with a focus on its specialty products as well as sales channels in U.S. market and the European

Zcash Foundation in the Clear: SEC Ends Years-Long Probe With No Enforcement Action

Hassan Shittu

Journalist

Hassan Shittu

Part of the Team Since

Jun 2023

About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Has Also Written

Last updated: 

13 minutes ago

The Zcash Foundation said this week that a years-long investigation by the US Securities and Exchange Commission has ended without any enforcement action, bringing regulatory clarity to one of the crypto industry’s most closely watched privacy projects at a time of heightened volatility for the token.

In a notice published Wednesday, the foundation confirmed that the SEC had “concluded its review” of an inquiry tied to “certain crypto asset offerings.”

We are pleased to announce that the SEC has concluded its review and informed us that it does not intend to recommend any enforcement action or other changes against Zcash Foundation regarding this matter. https://t.co/zjxfh3mmst

— Zcash Foundation 🛡️ (@ZcashFoundation) January 14, 2026 The probe began in August 2023, when the foundation received a subpoena as part of a broader SEC effort to assess whether specific digital asset offerings fell under federal securities laws.

The case was internally designated SF-04569 and remained open for more than two years.

Zcash’s Privacy Model Back in Spotlight After SEC Review ClosesThe foundation said the outcome reflected its cooperation throughout the process and its focus on operating within existing regulatory requirements.

It added that its work would remain centered on advancing privacy-preserving financial infrastructure. The SEC did not issue a public statement on the matter, but the foundation said it had received confirmation that the review was formally closed.

The decision comes amid renewed market activity around Zcash, with ZEC trading around $439 on Wednesday, up roughly 13% over the most recent trading period, with 24-hour trading volume climbing more than 30% to about $881 million.

Source: CoinGeckoDespite the rebound, the token remains far below its early-cycle peak, trading more than 86% under its all-time high of $3,191 set during the 2017 bull market.

One of the most prevalent aspects of privacy-oriented cryptocurrency has always been the regulatory oversight of such initiatives, which have been based on cryptographic solutions to conceal the information on transactions and remain functional in the open blockchain.

Zcash was introduced in 2016, and it uses zero-knowledge proofs to enable users to transact shielded transactions without the information about the sender, receiver, or amount being disclosed.

That design has put it in the middle of multiple discussions on financial surveillance, compliance, and the boundaries of privacy on-chain many times.

SEC’s Zcash Decision Mirrors Evolving U.S. Regulatory PlaybookThe SEC’s review of the Zcash Foundation unfolded alongside other inquiries touching the ecosystem.

In past correspondence, the agency sought analysis from Grayscale Investments on whether ZEC could be classified as a security in the context of its Zcash Trust.

SEC officials have also engaged directly with Zcash founder Zooko Wilcox, including participation in roundtable discussions on privacy technologies and regulatory oversight.

The closure of the Zcash probe also fits into a broader shift in US crypto enforcement since 2025.

Under new leadership and following the appointment of Paul Atkins as SEC chair, the agency has dropped or settled a string of high-profile cases launched during the prior administration.

Lawsuits against Coinbase and Kraken were dismissed without penalties, investigations into Robinhood’s crypto unit, Uniswap Labs, OpenSea, and Gemini were closed, and a multi-year inquiry into Ondo Finance ended without charges late last year.

While the SEC has continued to pursue cases involving alleged fraud, the pattern has pointed toward a pullback from expansive enforcement actions tied to token classification alone.

The end of the SEC probe arrives during a turbulent moment internally for Zcash, as last week, governance disputes between the Electric Coin Company and the nonprofit Bootstrap escalated into a public split, with core developers leaving to form a new independent entity.

That episode briefly weighed on market sentiment, even as network operations continued uninterrupted and project leaders stressed that the conflict did not affect Zcash’s underlying security or privacy guarantees.