Market Signal Briefing

Ondo Finance has added BlackRock’s IBIT and Galaxy Digital to its tokenized securities platform. This indicates rising institutional interest in tokenizing real-world assets across various blockchain-based financial systems. Ondo Finance has added over sixty new stocks and exchange-traded funds to its tokenized securities platform. New listings include BlackRock’s iShares Bitcoin Trust and Galaxy Digital’s stock. These are among the prominent financial assets. The company now supports over 250 tokenized assets across various blockchains, including Ethereum and Solana.

The company added additional equities like IonQ, Eaton, and Rocket Lab to increase exposure across various sectors. It has also added exchange-traded funds like the iShares MSCI India ETF and the Vanguard Real Estate ETF. Users are now able to trade these assets instantly using the Ondo Global Markets system.

New tokenized stocks just landed onchain.

The largest tokenized stock platform by TVL just got bigger, with 60+ new assets spanning key sectors and trends:

✅ AI
✅ Oil
✅ Data
✅ Space
✅ Biotech
✅ Defense
✅ Quantum
✅ China exposure
✅ & many more

Ondo Global Markets now… pic.twitter.com/xFFmCgOTkL

— Ondo Finance (@OndoFinance) March 19, 2026 Growing Demand for Tokenized Real-World Assets This growth is attributed to the increased demand for real-world assets in tokenized form by institutional investors in various digital asset markets within global financial systems. Statistics show that Ondo Finance handles 2.6 billion dollars in tokenized assets such as treasuries and equities. These figures demonstrate the growth in bridging traditional financial systems and blockchain-based investment systems globally.

Such clarity has encouraged platforms to extend their tokenized securities offerings globally. This has been made possible by providing confidence to institutions looking for compliant ways of accessing blockchain-based financial products and services efficiently. Tokenization has made it possible for transactions to take place almost instantaneously, and trading may also take place around the clock.

Ondo Finance is continuing to extend traditional financial instruments onto blockchain systems, effectively bridging the gap between traditional finance systems and decentralized finance infrastructure layers. It has been doing so by improving accessibility and efficiency while ensuring regulatory compliance globally. Industry trends indicate that tokenized securities are a rapidly expanding segment of the overall real-world asset class globally.

The development indicates a rising level of convergence between conventional finance and blockchain technology, as institutions accept tokenized investment solutions worldwide. Market players are exploring the concept of tokenization as a means of modernizing asset distribution and improving investment accessibility.

Highlighted Crypto News:

Coinbase and Apex Introduce Tokenized Bitcoin Yield Fund

I specialize in Web3 and crypto writing, producing clear, research-driven content on blockchain, cryptocurrencies, and market trends.

Bittensor (TAO) is leading the list of trending tokens. The AI cryptocurrency is up by 14.21% over the last 24 hours. It is followed by ZBCN and PHA. The Bittensor AI cryptocurrency, TAO, is currently leading the list of trending tokens over the last 24 hours. It has dethroned BTC, which dominated the list yesterday. While TAO has recorded significant gains during this timeline, the AI crypto is next expected to undergo correction for 3 months. Meanwhile, tokens like BTC and ETH have either declined or made slight gains.

Bittensor AI Cryptocurrency, TAO Bitcoin tokens were last seen leading the list, but it has now been claimed by TAO. Also at the top of the list of AI tokens in terms of market cap, TAO is trending with a daily uptick of 14.21% at the time of writing this article. Its exchange price is $285.18, which is also up by 19.15% in the last 7 days.

The next 3 months could be critical for the Bittensor token, given it is projected to undergo a maximum correction of around 22.79%, taking its value as low as approximately $224.47. Volatility for TAO is very high at 17.45%, but overall sentiments are neutral.

The 14-Day RSI of 78.40 signals that it has been overbought. The 50-Day SMA and the 200-Day SMA stand at $196.67 and $292.39, respectively.

Other Trending Tokens ZBCN and PHA are next on the list of trending tokens, or trending cryptocurrencies. The Phala Network token, PHA, stands out with a daily gain of 27.69%. It is now trading at $0.04064.

The Zebec Network token, or ZBCN, even though it is down by 2.3% in the last hour, has been able to sustain an upward trajectory with +19.46% over the past 24 hours. Also on the list are UAI, WZXP, and LGNS, in the same order.

Top Cryptocurrencies Top cryptocurrencies, on the sidelines, have been steady in the last 24 hours. BTC has noted a slight gain of 0.61%, and ETH has plunged by 1.15%. Nevertheless, they are still above their respective expected marks. Bitcoin tokens are at $70,640.75, and Ethereum tokens are at $2,149.09.

XRP and BNB have shed almost 0.84% and 0.39%, applicable in the same order, of their weights.

All that said, it is important to note that positions on the list of trending cryptocurrencies are subject to change. Also, the content of this article is neither a recommendation nor advice. Do thorough research and risk assessment before crypto or any other kind of investments.

Highlighted Crypto News Today:

Dogecoin Buzz Returns as Elon Musk Revives Dogefather Meme

Curious by nature, Ankur's core topic is Web3, but he's a versatile writer who can cover many more subjects. If you catch up with him in his free time, you'll find discussions often center around different movies and TV series. He's an easy person to talk to—you can literally chat with him about anything.

In the latest Cointelegraph interview, professional trader Alessio Rastani warns that Bitcoin could fall below $60,000 before a meaningful bottom forms.

Professional trader Alessio Rastani is back with a fresh market update, and the key question remains: has Bitcoin (BTC) already found its bottom — or is the real move still ahead?

In this latest interview, Rastani revisits his previous outlook and explains why his view has shifted as price action unfolded. While Bitcoin managed a short-term recovery earlier this year, he argues that the structure of the recent bounce is not yet convincing enough to signal a sustained uptrend.

In fact, he warns that the probability still favors another move lower, potentially below the $60,000 level, before a more meaningful bottom forms.

But that’s only part of the picture.

Rastani highlights a range of key levels he’s closely watching, suggesting that even if Bitcoin does break lower, the downside may be more limited than many fear. According to his analysis, major support zones could emerge between roughly $59,000 and $46,000, where conditions may become increasingly attractive for longer-term opportunities.

At the same time, he remains skeptical that Bitcoin will reach new all-time highs in 2026, pointing instead to a more delayed recovery timeline.

Beyond crypto, the conversation expands to the broader macro landscape. Rastani shares his outlook on the stock market, noting a possible top forming in the coming months. He also explains why relying too heavily on fixed frameworks, such as the four-year halving cycle, can lead investors astray in unpredictable markets.

If you want to understand where Bitcoin could be headed next — and where the real opportunities might lie — check out the full interview on our channel and don’t forget to subscribe! 

This interview has been edited and condensed for clarity.

The crypto market is entering a transition phase where macro forces are beginning to take control of price action.  However, the market could see a short-term drop before a stronger move higher, pointing to a dip-before-rise scenario rather than a full breakdown.

Basically, the main idea is that this is not just about price. A much larger setup is forming in the background, driven by global liquidity shifts and timing that may soon align.

Decoding the Japan CluesA major part of the theory comes from a cryptic post by David Schwartz. Members of the XRP community noticed that the visuals in his post closely match patterns seen on Japanese yen notes, especially the circular designs and wave-like elements used as security features.

Japan is 100% the trigger. And this is what it seems like the red alerts are waiting for.

This has led to growing speculation that Japan could act as a major trigger for the market, and may be what current signals are pointing toward.

The idea goes further. Since similar features appear across many global currencies, some believe the message points to a more connected financial system. In this setup, XRP could serve as a bridge asset, helping move value between different currencies rather than replacing them.

The link between Japan, wave patterns, and Ripple also adds weight to the view that Japan could play an important role in the next phase of financial change.

There is a theory behind carry trade risk Beyond symbolism, the analysis highlights a real macro risk tied to Japan’s financial system. For years, investors have borrowed low-interest yen and invested it in higher-yielding assets globally.

The Bank of Japan has kept rates steady near 0.75 percent, helping maintain stability. However, even a small rate hike could trigger a chain reaction. Borrowing costs would rise, forcing investors to unwind positions and repay loans.

This could lead to widespread selling across stocks, crypto, and real estate, creating a liquidity crunch. According to the analysis, this unwind is not just a theory. It may already be in its early stages.

Technically, is it Bullish?Adding weight to the theory, charts of the Japanese yen against the US dollar are showing strong bullish divergences across multiple higher timeframes. This is rare and has not been seen at this scale in recent years.

The analyst said that similar setups in 2024 and 2025 were weaker. Now, multiple timeframes are aligning, suggesting that momentum is building beneath the surface. A sharp yen move in the coming months could accelerate the carry trade unwind and increase global market pressure.

In this scenario, XRP is being positioned as a potential beneficiary. The goal is not that it replaces the US dollar, but that it becomes a liquidity bridge used by banks for cross-border transfers.

Moreover, if institutions begin holding XRP at scale, demand could rise quickly. A major liquidity event could push financial systems toward faster and more efficient solutions, where XRP fits naturally.

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

FAQsWhat is causing the current crypto market uncertainty?

Global macro factors like interest rates, liquidity shifts, and geopolitical risks are driving uncertainty, not just crypto-specific events.

What is the yen carry trade and why does it matter for crypto?

It’s borrowing cheap yen to invest in higher-yield assets. If rates rise, investors may exit positions, impacting crypto liquidity and prices.

Is XRP positioned to benefit from global financial changes?

XRP could benefit as a bridge asset for cross-border payments if institutions seek faster, efficient liquidity solutions during market shifts.

Will the crypto market recover after a potential dip?

A short-term dip is possible, but improving liquidity conditions and institutional demand could support a stronger recovery phase afterward.

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Bitcoin price traded sideways throughout the day as investors switched to risk-off mode after a series of negative headlines regarding heightened geopolitical tensions and a hawkish shift in Federal Reserve sentiment.

This led to a visible retreat among institutional players, who slowed their recent accumulation of spot ETFs to wait for clearer macroeconomic signals.

The total crypto market cap saw a modest recovery and briefly moved above the $2.5 trillion mark before facing resistance and stabilising around $2.49 trillion. 

The Crypto Fear and Greed Index saw no change over the past 24 hours, remaining stuck within "Fear" levels at 31.

This stagnant reading confirms that traders remain cautious, wary of potential bull traps as the market continues to grapple with the recent pullback from $76,000 highs.

Bitcoin’s rangebound action was mimicked across the broader altcoin market, with most major tokens posting little to no gains on the day. 

Large-cap assets like Ethereum and Solana mirrored BTC’s lacklustre performance, confirming a temporary wait-and-see approach across the entire digital asset ecosystem.

Why is Bitcoin price stuck?Bitcoin price is stuck as investors are reacting to a number of negative catalysts that have left the market searching for direction.

First, investors are reacting to the latest monetary policy data out of the US as the Fed has held interest rates steady at 3.5% to 3.75% for the second consecutive meeting. 

While the market previously hoped for a clearer path to rate cuts, Fed Chair Jerome Powell signalled a cautious stance due to persistent economic uncertainty. 

Inflation forecasts were actually revised upward to 2.7%, and "hot" Producer Price Index (PPI) data from February has led the market to price out an April rate cut almost entirely.

Meanwhile, skyrocketing energy prices due to the ongoing conflict in the Middle East are a major concern. 

With Brent crude recently touching $119 per barrel, the surge has intensified global inflationary fears. 

High energy costs are inflationary, which further pressures the Fed to keep interest rates high for a longer period.

Bitcoin’s market lull is also due to a downturn across Asian tech stocks, which have so far traded down on Friday morning. 

Japan’s Nikkei 225 fell by 1,866 points or 3.38%, while China’s Shanghai Composite was down 1.24%. 

Yesterday, US tech stock markets also showed the same weakness, with the Dow Jones Industrial Average closing lower by 0.44%, while the S&P 500 and Nasdaq 100 were down over 0.25% each.

Bitcoin is widely considered a high-growth risk asset and often mirrors the trend of the global equity markets.

At the same time, investors looking for safety may also be rotating to gold, which jumped nearly 2% today as it moved back toward the $4,700 per ounce level. 

This capital flight highlights a preference for traditional "safe haven" assets over digital ones during periods of active warfare and geopolitical instability.

Furthermore, institutional demand in Bitcoin appears to have cooled significantly. 

Data from SoSoValue show that US spot Bitcoin ETFs have recorded net outflows for the past several days, with over $250 million flowing out in the most recent session alone. 

This suggests that the aggressive "buy the dip" mentality seen earlier in the year has been replaced by institutional de-risking.

Then there’s also the massive options expiry today, the largest March “triple-witching” event on record. 

With $5.7 trillion in notional value set to expire across indexes, ETFs, and stocks, the forced rebalancing of positions is adding another layer of volatility and price suppression as traders navigate the "max pain" price points.

Will Bitcoin price go up?Bitcoin price was trading just below $70,000, which is a key support area. So far, this level has acted as a strong demand zone as observed during yesterday’s session when the flagship crypto briefly fell to lows near $68,500 but quickly recovered back above the mark.

As long as this level remains intact and Bitcoin holds above the $69,450 threshold, the chances of a recovery toward the $72,500 resistance remain on the table.

However, if this zone fails to attract enough buying interest, it could send prices sliding further towards the $65,000 range. 

This downside risk is particularly elevated as there’s a lack of fresh upside catalysts to counter the current risk-off sentiment caused by the Federal Reserve's hawkish tone and escalating geopolitical instability.

On X, crypto analyst Ali noted that large Bitcoin addresses were still accumulating around current price levels.

If this trend continues, it could help position Bitcoin for a potential rebound towards the $72,500 resistance.

Meanwhile, fellow analyst Merlijn The Trader pointed to what he described as a “curving” price structure forming on Bitcoin’s chart, arguing that BTC remains in a broader bullish setup despite the recent slowdown.

According to the analyst, Bitcoin has been forming a series of higher lows within an ascending channel, supported by a bullish MACD crossover observed earlier in February.

He noted that the current structure resembles a gradual curve that could accelerate if key levels continue to hold.

In his view, the $70,000 region remains critical to maintaining this formation.

A sustained hold above this level could allow Bitcoin to build momentum toward higher targets, with the next leg potentially extending toward the mid $80,000 range.

On the other hand, a breakdown below this zone would invalidate the pattern, forcing a reset in structure and delaying any immediate upside continuation.

The World Gold Council created “Gold as a Service” to facilitate standardized tokenized gold infrastructure and make markets more efficient. This framework has the potential to significantly change the competitive landscape of Tether Gold (XAUT) and Paxos Gold (PAXG). The World Gold Council created a “Gold as a Service” framework to help modernize tokenized gold infrastructure worldwide. It does this by connecting physical gold custody and digital issuance systems, allowing companies to issue gold-backed products more efficiently. It is built on three levels of physical custody, digital issuance, and synchronization systems that connect assets and blockchain records.

Source: World Gold Council

The World Gold Council CEO, David Tait, said, “Financial services are undergoing a rapid and pervasive digital transformation.” He further added that shared infrastructure would help in improving accessibility, tradability, and integration of gold in modern financial systems worldwide.

Impact on Tether Gold and Paxos Gold Market Leaders Currently, Tether Gold (XAUT) and Paxos Gold (PAXG) currently dominate the overall tokenized gold market. Also, they collectively command a large market share in the overall market worldwide. Both of these operate on different systems for custody, audit, and redemption, and this is causing fragmentation in the overall digital gold market worldwide. 

The new framework also outlines a set of standardized processes that include custody coordination, compliance checks, and redemption systems that are to be followed on all platforms globally. Such a framework would ensure that all platforms are aligned in terms of regulatory compliance. It has been noted that such a platform can enable hundreds of new issuances to happen in a more efficient manner.

The Potential and Development Mark The platform can potentially lead to lower operational costs as well as better integration between tokenized gold assets on various blockchain platforms globally. This can further increase adoption rates among institutional investors as well as fintech companies that are entering the tokenized commodity space. Officials emphasized that the platform focuses on enabling growth. Rather than targeting existing issuers in the space.

The development marks a significant convergence between traditional gold markets and blockchain technology as the adoption of digital assets continues to gain momentum globally. Analysts noted that tokenized gold can act as a major growth driver in traditional gold markets globally.

Highlighted Crypto News:

Ondo Finance Expands Tokenized Securities Offering With BlackRock IBIT and Galaxy Digital

I specialize in Web3 and crypto writing, producing clear, research-driven content on blockchain, cryptocurrencies, and market trends.

The global crypto market is starting to stabilize after a sharp sell-off as Bitcoin tries to settle near $70,000. However, positioning across derivatives and macro markets suggests that traders are far from confident about what comes next. The Fear and Greed index shows that investors are still seeing “Fear” in the market.

VanEck’s data depicts that the 30-day average Bitcoin price has fallen about 19%. This comes in despite the recent correction. Beneath that decline, conditions have begun to calm slightly as realized volatility has dropped from 80 to 50. It added that the Futures funding rates have eased from 4.1% to 2.7%.

This setup usually signals that the aggressive positioning has already been flushed out, at least for now. Bitcoin price has dropped by more than 25% over the past 60 days. Ether also tagged along, as it slipped down by 33% in the same period.

Options market screams Caution Options markets tell a different story. The put/call open interest ratio has climbed to 0.77. This has been the highest level seen since June 2021. VanEck’s data shows that Put premiums relative to spot volume have reached an all-time high of 4 basis points. This hints that the traders are paying up for downside protection. This typically happens when uncertainty is elevated rather than resolved.

On-chain activity is also reflecting a cooling phase. Transfer volume has dropped 31%, while daily fees are down 27%. It added that the long-term holders have slowed their distribution, while miners are mostly selling only newly issued Bitcoin rather than aggressively offloading reserves.

VanEck Bitcoin ChainCheck, key takeaways:

Key takeaways

>Bitcoin consolidates after sharp drawdown: The 30-day average bitcoin (BTC) price fell 19%, but spot prices stabilized as realized volatility dropped from 80 to 50 and futures funding rates declined from 4.1% to 2.7%.… pic.twitter.com/53pBlSV66W

— matthew sigel, recovering CFA (@matthew_sigel) March 19, 2026

The macro backdrop is shifting quickly, and that’s where the real pressure is building. A few weeks ago, markets were debating how many rate cuts the Federal Reserve might deliver in 2026. However, that conversation has flipped. Traders are expecting the possibility of a rate hike as early as April.

According to CME FedWatch data, the probability of a hike has jumped to 12%. This is up from effectively zero just a week ago. It turns out to be a sharp reversal from earlier expectations. In this matter, inflation hasn’t helped either. February data showed inflation at 2.4% and core at 2.5%. Both numbers are still above target, and that was before the recent surge in oil prices.

Since the start of the US-Israel-Iran conflict, oil has jumped around 50% in just three weeks. This spike has been feeding directly into inflation expectations. Federal Reserve Chair Jerome Powell has already pointed out that the “oil shock” is starting to show up in projections.

Bitcoin still holding strong Bond markets have reacted fast. The US 10-year yield has climbed to around 4.38%, up from below 4% at the start of March. Similar moves are playing out globally, with U.K. gilt yields pushing above 5% for the first time since 2008.

During all the chaos, assets that initially benefited from the geopolitical shock are giving back gains. Gold, which had surged to around $5,500 earlier this month, has dropped to roughly $4,569. Silver has fallen as well. It slid from $95 to about $69.

Bitcoin remains one of the better-performing assets since the conflict began. Recent ETF activities also suggest a sustained interest. The past month has seen some of the largest trading volumes on record. Four of the highest-volume days occurred within just a few weeks.

Santiment data shows that March 2 recorded $31.6 billion in ETF trading volume. February 23 followed with $23.2 billion. Over $21 billion was posted on both March 18 and March 19. Grayscale reports that despite everything, Bitcoin still dominates the crypto market. BTC accounts for roughly 90% of the total market share. 

TL;DR

Large Transfer: BlackRock moved 544 BTC and 47,728 ETH to Coinbase Prime, totaling more than $140 million. ETF Connection: The deposits came from wallets tied to BlackRock’s IBIT and ETHA ETFs during a period of weaker ETF performance. Market Context: The move coincides with over $90 million in ETF outflows and Bitcoin holding near $70,000, prompting debate about BlackRock’s intentions.
BlackRock has executed another sizable round of Bitcoin and Ethereum deposits on Coinbase Prime, reinforcing a pattern of steady activity during a period of cooling institutional momentum. The latest transfer, tracked by Lookonchain, has drawn attention across the crypto sector as observers debate the intent behind the move and its timing relative to recent ETF performance.

BlackRock just deposited 47,728 $ETH($102.13M) and 544 $BTC($38.3M) to Coinbase Prime.https://t.co/qmuDIrPHc6 pic.twitter.com/kmqXk3XzEx

— Lookonchain (@lookonchain) March 20, 2026

Fresh Deposits Highlight Ongoing Transfer Activity According to the available data, BlackRock moved 544 BTC and 47,728 ETH to a Coinbase Prime wallet, representing more than $140 million in combined value. The batch includes Ethereum worth about $102.13 million and Bitcoin worth about $38.3 million, all transferred within minutes. These deposits continue a trend of consistent activity from the world’s largest asset manager, which has been routing significant amounts of BTC and ETH to Coinbase throughout recent sessions.

ETF‑Linked Wallets Identified in the Transfer The deposits are traceable to wallets associated with BlackRock’s spot crypto ETFs, including the IBIT Bitcoin ETF and the ETHA Ethereum ETF. Both products rely on Coinbase Prime for custody and trading operations, making the platform a central hub for the firm’s on‑chain movements. The timing of the transfer has sparked discussion, given the recent downturn in ETF performance and the broader slowdown in institutional inflows.

Community Debates Purpose Behind the Move The crypto community remains divided on the motive behind the deposits. Some analysts argue that BlackRock may be preparing to sell funds withdrawn from its ETFs during the latest negative trading session. Others believe the firm could be positioning liquidity for a strategic shift. With limited public commentary from BlackRock, speculation continues to circulate as traders watch for follow‑up activity.

ETF Outflows Add Pressure to Market Sentiment The transfer arrives during a period of weakening momentum for Bitcoin ETFs, which have recorded two consecutive days of outflows. The latest withdrawals across all funds, including BlackRock, total more than $90 million. Bitcoin’s price has stalled around the $70,000 level following its recent rally, contributing to a cautious stance among institutional participants.

The U.S. Commodity Futures Trading Commission [CFTC] has clarified how certain crypto assets can be used within derivatives markets, signaling a measured expansion of digital assets into core financial infrastructure.

In newly released guidance, the CFTC’s Market Participants Division and Division of Clearing and Risk outlined conditions under which futures commission merchants [FCMs] and clearinghouses may accept crypto assets as margin collateral, including Bitcoin, Ethereum, and payment stablecoins.

The move provides additional clarity following earlier staff letters. It reflects growing regulatory engagement with crypto’s role in traditional financial systems.

Crypto assets gain footing as margin collateral Under the guidance, FCMs may apply the value of non-security crypto assets as margin collateral in futures, foreign futures, and cleared swaps accounts. This includes Bitcoin, Ethereum, and certain stablecoins.

This means that eligible crypto holdings can now be used to secure trading positions or cover account deficits, subject to valuation adjustments.

Clearinghouses are also permitted to accept crypto assets as initial margin. This is provided they meet requirements related to credit, market, and liquidity risk.

However, the framework remains limited in scope. Crypto assets remain prohibited as margin for uncleared swaps, reinforcing a cautious regulatory approach.

Stablecoins receive preferential treatment The guidance draws a clear distinction between volatile crypto assets and payment stablecoins.

FCMs are allowed to deposit their own payment stablecoins into segregated customer accounts as residual interest. This flexibility is not extended to assets like Bitcoin or Ethereum.

In addition, stablecoins are assigned significantly lower capital charges, reflecting their perceived stability compared to other crypto assets.

This differentiation suggests regulators increasingly view certain stablecoins as closer to cash equivalents within market infrastructure.

Haircuts define risk framework To account for volatility and liquidity risks, the CFTC framework applies haircuts to crypto collateral:

Bitcoin and Ethereum are subject to higher capital charges, aligned with their price volatility Payment stablecoins receive a lower capital charge, typically around 2% of market value These adjustments determine how much of a crypto asset’s value can be recognized when used as collateral.

The approach mirrors existing risk frameworks in traditional markets while adapting them to digital assets.

Controlled rollout with strict conditions The guidance also introduces operational safeguards for firms adopting crypto collateral.

FCMs must notify the CFTC before accepting crypto assets and comply with enhanced reporting requirements for the first 3 months.

During this phase:

Only Bitcoin, Ethereum, and payment stablecoins may be accepted Firms must report holdings weekly Significant operational or cybersecurity incidents must be disclosed After the initial period, firms may expand the range of accepted crypto assets, subject to regulatory conditions.

A step toward institutional integration While the guidance stops short of full regulatory endorsement, it represents a meaningful step toward integrating crypto assets into traditional derivatives markets.

By allowing crypto to function as collateral, the CFTC is effectively incorporating digital assets into the financial system’s underlying mechanics.

The framework balances innovation with risk control, enabling participation while maintaining oversight.

Final Summary The CFTC’s guidance allows Bitcoin, Ethereum, and stablecoins to be used as margin collateral, marking a step toward institutional crypto integration. Strict conditions and limitations highlight a cautious approach as regulators test crypto’s role within derivatives markets.

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

US financial regulators have issued a clarification on how federal securities laws apply to crypto assets, and Dogecoin and Shiba Inu are among the direct beneficiaries. The joint guidance, which was published by the SEC and CFTC, formally established five categories for digital assets and explicitly named both meme coins as digital commodities, placing them in the same regulatory class as Bitcoin, Ethereum, and XRP. 

Dogecoin And Shiba Inu Officially Classified As Digital Commodities An interesting decision from US regulators is now setting the stage for a possible turnaround in the price of meme coins like Dogecoin and Shiba Inu. For the first time ever, this clarification directly names the leading names of meme cryptocurrencies (Dogecoin and Shiba Inu) as digital commodities, removing them from the security debate that has weighed on the crypto industry for years.

The joint interpretive release by the SEC and the CFTC finally ended more than a decade of jurisdictional dispute between the two US regulators over how to classify digital assets. According to the release, crypto assets are now divided into five categories: digital commodities, digital collectibles, digital tools, stablecoins, and digital securities. 

The first four carry no securities designation by default, while digital securities, which are essentially tokenized versions of traditional financial instruments such as stocks and bonds, are still subject to federal securities laws. 

On the other hand, digital commodities are assets whose value derives from a functioning blockchain ecosystem and supply-and-demand dynamics, with decentralization also an important criterion. Both Dogecoin and Shiba Inu were placed in this category alongside Bitcoin, Ethereum, XRP, and Cardano, among others. 

SEC Chair Paul Atkins stated that the guidance was designed to provide regulatory clarity “in clear terms” and confirmed that blockchain network activities such as mining, on-chain staking, and protocol airdrops do not automatically qualify as securities offerings.

What The Classification Means For DOGE And SHIB Specifically The market’s reaction so far has been somewhat muted. Price data show that crypto prices did not surge immediately even after the guidance was released. However, the importance of being classified as a commodity cannot be overstated for Dogecoin and Shiba Inu, considering the fact that these two started as a meme. A February 2025 clarification from the SEC’s Division of Corporation Finance had indicated that meme coins were not securities, but that guidance stopped short of a formal classification. 

Both Dogecoin and Shiba Inu have spent recent months moving sideways or struggling to break above resistance levels in terms of price action. However, this might change very soon. Commodity status equates Dogecoin and Shiba Inu with the same regulations backing Bitcoin and Ethereum Spot ETFs in the United States. Spot Dogecoin ETFs are already live and Shiba Inu might be next. Interestingly, Grayscale Investments has already indicated that SHIB qualifies for a spot ETF under the SEC’s Generic Listing Standards framework.

DOGE price stages another recovery attempt | Source: DOGEUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com

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I'm Sandra White, a writer at Bitcoinist, and I provide the latest updates on the world of cryptocurrencies. I believe crypto a gateway to a new order and I have made it my life's mission to help educate as much people as possible. When I'm not at work, I love listening to music, learning new things, and dream of traveling around the world.

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18h05 ▪ 3 min read ▪ by Eddy S.

Summarize this article with:

Cardano (ADA) moves quietly between $0.18 and $0.25, a range that has often preceded spectacular rises. As crypto investors scrutinize the signals, one question remains… Does this silent accumulation herald an imminent breakout?

In brief Cardano (ADA) consolidates between $0.18 and $0.25, a historic zone that has already triggered bull runs in the past. A breakout above $0.25 could propel ADA towards $1, then $3. Risks remain for Cardano: stubborn resistance, increased competition, and macroeconomic uncertainties. Cardano in a phase of silent accumulation: what do the charts reveal? For several weeks, Cardano has been holding within a price range between $0.18 and $0.25. This range is significant because it has served as a springboard during previous bullish cycles, especially in 2023. Accordingly, the charts show progressive accumulation, with buying volumes increasing each time the price dips towards support.

Cardano (ADA) accumulation zone. Moreover, the RSI remains neutral while the 50- and 200-day moving averages begin to converge. This is a potential sign of preparation for a breakout. Whales also seem active, quietly accumulating positions. For crypto analysts, this phase of silent accumulation often precedes powerful bull runs. However, a breakout will only be confirmed with significant volume.

Crypto: Cardano (ADA) at $1, then $3, is it realistic? If Cardano (ADA) manages to break the $0.25 resistance level with sufficient volume, price targets could shift quickly. The first target would be around $1, a major psychological level that would attract new buyers. Then, a breakout above $1.50 would open the way to $3, as seen in 2021. However, this scenario will depend on several factors:

An overall bullish crypto market; Increased adoption of Cardano; Fundamental catalysts such as new partnerships or technological improvements.  What strategies for Cardano investors in 2026? For short-term traders, the key levels to watch for ADA are $0.22 and $0.25. A breakout above $0.25 could provide a buying opportunity, while a drop below $0.18 would be a sell signal. In the medium term, a DCA (Dollar-Cost Averaging) strategy might be wise, smoothing risks while gradually accumulating ADA.

Additionally, crypto investors should also follow official Cardano announcements to anticipate potential catalysts. For the long term, holders can focus on Cardano’s fundamentals, such as its growing adoption and technological improvements. A 2-3 year vision could be rewarded if the project continues to develop.

Cardano stands at a decisive crossroads, between silent accumulation and explosive potential. If conditions align, a breakout could propel ADA to new heights. However, risks persist and crypto investors must remain cautious. What about you, do you think Cardano is ready for a new bull run?

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Eddy S.

The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

March 20, 2026 11:59 ET  | Source: Alamos Gold Inc.

TORONTO, March 20, 2026 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today announced that it has filed a technical report for the Expansion Study completed on the Island Gold District operation, located in Ontario, Canada.

The report was prepared in accordance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects and supports the disclosure outlined in Alamos’ news release dated February 3, 2026. The report is available on the Alamos website at www.alamosgold.com and will be available under the Company’s profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from three operations in North America. This includes the Island Gold District and Young-Davidson mine in northern Ontario, Canada, and the Mulatos District in Sonora State, Mexico. Additionally, the Company has a strong portfolio of growth projects including the IGD Expansion, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 2,400 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Scott K. Parsons Senior Vice President, Corporate Development & Investor Relations(416) 368-9932 x 5439Khalid ElhajVice President, Business Development & Investor Relations(416) 368-9932 x [email protected]
The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO JANUARY 31, 2026

Vancouver, March 20, 2026 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) announces results for the fiscal period ending January 31, 2026. All references to dollar amounts in this release are in Canadian dollars.

Highlights During and After the Fiscal 2025

During the three months ended January 31, 2026:

On December 3, 2025, the Company announced that the County Administrative Boards (“CABs”) of Jönköping and Östergötland had endorsed (Sw. Tillstyrker) the Company’s application for an Exploitation Concession (Sw. Bearbetningskoncession) 25-year mining lease for Norra Kärr. This step forward precedes a final decision on the application by the Mining Inspectorate (Sw. Bergsstaten).On December 14, 2025, the Company announced it had been accepted by EIT Raw Materials as a Project Partner. EIT Raw Materials represents a powerful knowledge and innovation community in Europe. After the three months ended January 31, 2026:

On February 2, 2026, the Company provided an update on its exploration activities in Romania and latest assay results.On February 8, 2026, the Company announced that its 100% owned Swedish subsidiary Greenna Mineral AB (“GMAB”) has signed an MoU with Ascension Earth Resources (“Ascension”).On March 10, 2026, the Company announced that the Mining Inspectorate had chosen to submit the Company’s application for an Exploitation Concession for Norra Kärr to the Swedish Government for a final decision. The Mining Inspectorate itself recommends in its decision that the application should be approved. Results of Operations

Three Months Ended January 31, 2026, Compared to Three Months Ended October 31, 2025

During the three months ended January 31, 2026 (“Q1 2026”) the Company reported a net loss of $745,946 compared to a reported net loss of $756,874 for the three months ended October 31, 2025 (“Q4 2025”), an increase in loss of $10,928 is due to Research, development and general exploration expenses of $47,450 in Q1 2026 (Q4 2025- $17,455) and Operations of $93,041 in Q1 2026 (Q4 2025- $63,532.

Three Months Ended January 31, 2026, Compared to Three Months Ended January 31, 2025

During the three months ended January 31, 2026 (“2026 period”), the Company reported a net loss of $745,946 compared to a net loss of $669,216 for the three months ended January 31, 2025 (“2025 period”), an increase in loss of $76,730, the increase in loss mainly due Share based compensation of $205,574 (Q1 2025- $129,292) and Professional fees of $44,340 (Q1 2025- $5,970).

Selected Financial Data

The following selected financial information is derived from the unaudited condensed consolidated interim financial statements of the Company prepared in accordance with IFRS.

 Fiscal 2026Fiscal 2025Fiscal 2024Three Months EndedJanuary 31,
2026
$October 31,
2025
$July 31,
2025
$April 30,
2025
$January 31,
2025
$October 31,
2024
$July 31,
2024
$April 30,
2024
$Operations         Expenses

 (791,117)

 (731,190)

 (697,621)

 (1,070,402)

 (696,037)

 (97,209)

 (797,070)

 (863,745)

 Other items

 45,171

 (25,684)

 86,314

 (108,766)

 26,821

 (222,820)

 (25,168)

 4,216

Comprehensive profit/(loss) (745,946)

 (756,874)

 (611,307)

 (1,179,168)

  (669,216)

 (320,029)

 (822,238)

 (859,529)

Basic Profit/(loss) per share(0.00)(0.00)(0.00)(0.01)(0.00)(0.00)(0.00)(0.01)Diluted profit/(loss) per share(0.00)(0.00)(0.00)(0.01)(0.00)(0.00)(0.00)(0.01)Financial Position            Working capital

 804,249

 1,880,436

 679,695

 1,191,514

 2,198,641

 3,337,686

 3,973,458

 1,610,635

 Total assets

 30,082,554

 30,468,689

 29,503,036

 28,361,774

 28,480,311

 29,343,716

 28,454,783

 24,991,481

Total non-current liabilities (6,088,012)

 (6,056,852)

 (6,806,650)

 (6,009,933)

  (5,596,369)

 (5,641,854)

 (5,683,545)

 (5,101,289)

Financial Condition / Capital Resources

During the three months ended January 31, 2026, the Company recorded a net loss of $745,946 and, as of January 31, 2026, the Company had an accumulated deficit of $53,315,169 and working capital of $804,249. The Company is maintaining its Woxna Graphite Mine on a “production-ready” basis to minimize costs. The Company continues to review options for Woxna, which include the possibility of contracting with a long-term partner willing to pay for secure natural graphite produced to the highest ESG and sustainability standards.

The Company anticipates that it has sufficient funding to meet anticipated levels of corporate administration and overheads for the ensuing twelve months, however, it will need additional capital to recommence operations at the Woxna Graphite Mine including upgrading the existing plant to maximise product quality, and to fund future development of the Norra Kärr and Bihor Sud projects.

The exercise prices of certain stock options and warrants outstanding may provide an incentive for holders to exercise these instruments, which, if exercised, would result in additional capital being raised by the Company. There is no assurance such additional capital will be available to the Company on acceptable terms. Accordingly, the Company will restrict activities until further financing is completed. These material uncertainties cast significant doubt about the Company's ability to continue as a going concern.

In the longer term the recoverability of the carrying value of the Company’s long-lived assets is dependent upon the Company’s ability to preserve its interest in the underlying mineral property interests, the discovery of economically recoverable reserves, the achievement of profitable operations and the ability of the Company to obtain financing to support its ongoing exploration programs and mining operations.

Outlook

Geopolitical turbulence has intensified dramatically. Widening conflict across the Middle East and beyond is disrupting supply chains globally, and the imperative for Europe to secure critical raw materials — to protect both its industrial base and its national security — has never been more urgent.

The supply outlook for heavy rare earth elements remains acutely critical. These materials are irreplaceable inputs for permanent magnet manufacturing across defence systems, electric vehicles, and wind turbines. Yet the path to peace remains uncertain, and with it, the future shape of global alliances and trade flows. Businesses and governments cannot afford to wait for clarity that may not come.

The conclusion is unambiguous: local supply and shorter supply chains are no longer optional — they are a strategic necessity. Policymakers and regulators must act decisively. Where regulatory and political action can unlock supply, that action must follow without delay.

Against this backdrop, Leading Edge Materials' Norra Kärr and Woxna Graphite projects occupy a uniquely compelling position — sitting at the convergence of urgent European demand, unprecedented policy support, and a fundamental reorientation in how Western nations assess supply chain risk. The strategic calculus has shifted permanently. This is no longer a commercial question. It is a matter of economic security.

The Company anticipates that it has sufficient funding to meet anticipated levels of corporate administration and overheads for the ensuing twelve months, however, it will need additional capital to recommence operations at the Woxna Graphite Mine and to fund future development of the Norra Kärr and Bihor Sud projects. The exercise prices of certain stock options and warrants outstanding may provide an incentive for holders to exercise these instruments, which, if exercised, would result in additional capital being raised by the Company. There is no assurance such additional capital will be available to the Company on acceptable terms. Accordingly, the Company will restrict activities until further financing is completed. These material uncertainties cast significant doubt about the Company's ability to continue as a going concern.

Woxna Graphite Mine

The Woxna Graphite Mine is being maintained on a “production ready” basis while keeping operational holding costs to a minimum. In partnership with an engineering consultant, the Company is updating an internal production restart study undertaken in 2022; metallurgical testwork is being conducted to assess potential improvements to the processing facility that could maximize operational efficiency. The Company's goal is to deliver premium-quality high-grade flake graphite concentrate or value-added products.

In August 2025, Benchmark Minerals reported “Graphite buyers are increasingly seeking to diversify their raw material supply away from China. This has pushed the supply chain to call for new graphite price grades which reflect the trends in this market outside of China. In the graphite market, trade flows have been disrupted by policy announcements restricting imports from specific countries, for example through the introduction of export licence requirements and tariffs. In 2025, China will produce about 70% of global supplies of natural flake graphite and almost all the spherical graphite used in anodes for lithium-ion batteries."

Against this backdrop, in the final weeks of 2025, the Mining Inspectorate awarded four Exploitation Concessions for graphite projects. Stable jurisdictions, such as the Nordics, can contribute to delivering the essential raw materials needed to support the European lithium-ion battery value chain and industrial markets. The EU currently imports approximately 100,000 tonnes per year of natural graphite.

The broader context for Woxna is very different now, market interest remains strong - reinforcing confidence in Woxna's commercial potential - the adoption of the CRMA, volatile geopolitics and trade flows, increasing the strategic importance of natural graphite to Sweden and the European Union, the necessity to secure the supply chain, and with a new business plan in hand possibilities to raise finance and restart of production.

Norra Kärr Heavy Rare Earth Element (“HREE”) Project

On March 10, 2026, the Mining Inspectorate submitted the Company’s application to the Swedish Government for a final decision. The Mining Inspectorate itself recommended in its decision that the application should be approved. This followed the positive consultation responses from the County Administrative Boards (“CABs”) of Jönköping and Östergötland in December last year.

While waiting for the Government’s decision, the Company continues to work towards completing a new Pre-feasibility (“PFS”) during 2026.

The drastic shortage of heavy rare earth elements - particularly Dysprosium and Terbium – was highlighted in a Reuters article titled ‘West scrambles to fill heavy rare earth gap as China rivalry deepens’, published November 19, 2025 (https://www.reuters.com/sustainability/climate-energy/west-
scrambles-fill-heavy-rare-earth-gap-china-rivalry-deepens-2025-11-19/). The article underscored the critical supply chain vulnerability that Europe has failed to address for more than a decade.

This message was strengthened by comments from Dr. Erik Eschen CEO of Vacuumschmelze, Europe’s principal manufacturer of permanent magnets, when he spoke at Raw Materials Week 2025 in Brussels in November last year.

Dr. Eschen wrote on LinkedIn:

‘Rare earths and permanent magnets are now central to global geopolitics — not only in negotiations between the United States and China, but also for Europe.

In Europe, we have debated and complained for years. But very little has actually happened.

This must change — fast. Europe urgently needs a resilient supply chain. We must secure the required raw materials and midstream processes with partners around the globe. We need a coalition of the willing: trustworthy, reliable partners who share a common set of values.’

(https://www.linkedin.com/posts/erikeschen_resilient-supply-chains-are-the-backbone-ugcPost-7398124210834948097-CACM?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAAKVckBtVRMBPkF4QEqusLTLLQTDaCvyrQ).

The urgency is not new. In 2014, the European Rare Earths Competency Network (ERECON) warned that "the development of new sources of heavy rare earths outside of China and greater recycling must remain an urgent priority for Europe."

Their report on strengthening the European rare earths supply chain specifically identified Norra Kärr as one of two "best known" advanced-stage REE projects in Europe that could secure European supply for decades. Back in 2014, they projected that, with permitting and adequate funding, mining could begin before 2020. These factors still challenge European projects more than a decade later.

When it comes to Norra Kärr, the deposit’s strategic importance to Europe has never been clearer. The Swedish Geological Survey (“SGU”) discovered Norra Kärr in the 1900s and, in 2011, designated it as being of National Interest due to the significance of its rare earth elements (“REEs”) for Sweden and Europe.

More recently, with the respect to the Company’s application for a mining lease, SGU in its capacity as an expert authority for issues relating to geology and minerals in Sweden has stated that the deposit at Norra Kärr is very important for Sweden's and the EU's supply of rare earth metals, and that Norra Kärr is one of Europe's richest deposits for these minerals – especially with regard to heavy rare earth elements.

Norra Kärr is estimated to produce 248 tonnes of Dysprosium and 36 tonnes of Terbium oxides annually over an initial 26-year mine life - covering only 30% of the currently defined resource, which remains open for expansion. As a comparison, on 25 October, Australian company Lynas Rare Earths (“Lynas”) announced plans for an expanded heavy rare earths separation facility in Malaysia, with nameplate capacity of 250 tonnes of Dysprosium and 50 tonnes of Terbium oxides.
(Source: https://wcsecure.weblink.com.au/pdf/LYC/03015215.pdf).

Lynas, along with MP Materials (“MP”) are the most significant players in the rare earths market outside of China. Lynas is expected to be a beneficiary of the USD 8.5 billion U.S.-Australia Rare Earth Deal signed on 20 October 2025 and has already benefited from Australian Government grant funding in recent years. The U.S. Government has invested in MP, becoming the company’s largest shareholder through the purchase of USD 400 million in preferred stock in July this year and the Department of War has extended a USD 150 million loan to support the expansion of MP’s rare earth separation capabilities. These public market-making instruments from governments directly supporting their critical mineral strategies have unlocked private capital, including USD 1 billion in commercial debt from JPMorgan Chase and Goldman Sachs.

The Company’s recent focus has been on permitting primary raw material production from the Norra Kärr site, eudialyte HREE rich mineral concentrate and nepheline syenite products, but the downstream processing of eudialyte mineral concentrate is also being considered, with one option being to create a rare earths processing hub that could import concentrates as well as process Norra Kärr material.

When the financials for producing mixed rare earth oxides were modelled as part of the Preliminary Economic Assessment (“PEA”) in 2021, the Project had a pre-tax NPV10 of over US$1B. While the numbers will be updated in PFS, we have a robust project, and the Company is already mapping the funding options that could be available as we progress. As one of the largest HREE deposits globally - and the most advanced within the EU - Norra Kärr has the potential to become a cornerstone supplier for Western magnet producers.

Bihor Sud Nickel-Cobalt Exploration Project

On February 2, 2026, the Company provided an update on its exploration activities in Romania and latest assay results.

From the 2025 exploration campaign, mapping and sampling data revealed extensive mineralisation, notably in the form uranium oxide associated with jasperoid silicification; polymetallic (copper (Cu), cobalt (Co), nickel (Ni), lead (Pb) and zinc (Zn)) sulphides hosted in silica–carbonate rocks (including uranium occurrences); and crystalline carbonate (limestone) exhibiting disseminated and stockwork-style sulphide mineralisation. Supergene enrichment phases, such as erythrite and annabergite, further characterise the mineralogical diversity of the licence area.

Notably, massive sulphide mineralisation is present at the Valea Leucii, Dibarz, and Avram Iancu prospects, with a possibility that these occurrences are interconnected, forming part of a broader mineral system. Moreover, historical prospecting rock chip data reported evidence of widespread and pervasive uranium, base and precious metal mineralisation.

Although mineralisation has been intercepted with channel sampling, more analysis and further study is required to fully understand its geometry, but it appears open in all directions. From channel sampling, significant intercepts appear to show reasonably wide zones of low-grade mineralisation encompassing higher grade cores, which is extremely encouraging.

The Bihor Sud licence possesses a diverse and lengthy mining history, and despite considerable historical extraction, the potential for a profitable, modern mining operation likely remains, with significant areas of mineralisation observed underground in Valea Leucii, Dibarz and Avram Iancu, and potential across the wider exploration licence.

A Competent Person Report (“CPR”) has now been completed, while management concurrently explores alternative financing options to advance project development. The CPR consolidates the substantial work completed to date and establishes a clear roadmap for the project.

Financial Information

The report for three months ending April 30, 2026, is expected to be published on or about June 19, 2026.

On behalf of the Board of Directors,
Leading Edge Materials Corp.

Kurt Budge, CEO

For further information, please contact the Company at:
[email protected]
www.leadingedgematerials.com

Corporate Head Office (Vancouver, Canada): 778-686-5357

Follow us
Twitter: https://twitter.com/LeadingEdgeMtls
Linkedin: https://www.linkedin.com/company/leading-edge-materials-corp/

About Leading Edge Materials

Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as lithium-ion batteries and permanent magnets for electric motors, wind turbines and defence applications. The Company’s portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), 100% owned Norra Kärr Heavy Rare Earth Elements project (Sweden), and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).

Additional Information

The information was submitted for publication through the agency of the contact person set out above, on March 20, 2026, at 9:00 AM (Vancouver, Canada).

Leading Edge Materials is listed on the TSXV under the symbol “LEM”, OTCQB under the symbol “LEMIF” and Nasdaq First North Stockholm under the symbol “LEMSE”. Svensk Kapitalmarknadsgranskning (“SKMG”) is the Company’s Certified Adviser for the Nasdaq First North Growth Market (Stockholm) and may be contacted via email [email protected] or by phone +46 (0)8 913 008.

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, changes in the Company’s intended use of proceeds from the Private Placement, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

LEM- News Release Financial Results-Jan 31, 2026 LEMFinanciaReport

NEW YORK, March 20, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Snowflake Inc. (NYSE: SNOW) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Snowflake securities between June 27, 2023 and February 28, 2024, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/SNOW.

Snowflake Case Details

The Complaint alleges that during the Class Period, Defendants repeatedly made positive statements about the state of its business, including positive statements about customer usage of, and new developments for, its products. The Complaint continues to allege that at the same time, Defendants failed to disclose that:

(1) product efficiency gains, Iceberg Tables and tiered storage pricing were expected to have a material negative impact on consumption and revenues;
(2) as a result, Defendants' positive statements about consumption patterns, revenues, and demand for Snowflake products lacked a reasonable basis; and
(3) Defendants denied rumors of Defendant Slootman's resignation and failed to disclose that Defendant Slootman's resignation was impending.

What's Next for Snowflake Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/SNOW or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Snowflake you have until April 27, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Snowflake Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Snowflake Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

Attorney advertising.
Prior results do not guarantee similar outcomes.

NEW YORK, March 20, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Apollo Global Management, Inc. (NYSE: APO) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Apollo securities between May 10, 2021 and February 21, 2026, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/APO.

Apollo Case Details

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that:

(1) defendants Marc Rowan and Leon Black, among other leadership figures at Apollo Global, frequently communicated with Jeffrey Epstein in the 2010s regarding Apollo Global’s business; 
(2) as a result, Apollo Global’s assertion that Apollo Global had never done business with Jeffrey Epstein was untrue; 
(3) because of the entanglement between Apollo Global’s leaders and Jeffrey Epstein, the harm to Apollo Global’s reputation was more than a mere possibility; and 
(4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.

What's Next for Apollo Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/APO. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Apollo you have until May 1, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Apollo Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Apollo Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

Attorney advertising.
Prior results do not guarantee similar outcomes.

NEW YORK, March 20, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Mereo BioPharma Group plc (NASDAQ: MREO) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Mereo securities between June 5, 2023 and December 26, 2025, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/MREO.

Mereo Case Details

The Complaint alleges that throughout the Class Period, Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of the Phase 3 ORBIT and COSMIC programs; neither of which hit its primary endpoints of reducing annualized clinical fracture rate compared to the placebo or bisphosphonate control groups, respectively.

What's Next for Mereo Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/MREO. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Mereo you have until April 6, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Mereo Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Mereo Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

Attorney advertising.
Prior results do not guarantee similar outcomes.

NEW YORK, March 20, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Corcept Therapeutics Incorporated (NASDAQ: CORT) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Corcept securities between October 31, 2024 and December 30, 2025, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/CORT.

Corcept Case Details

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that:

 (1)Defendants overstated the strength of the clinical trials supporting relacorilant by representing them as “powerful support” for Corcept’s New Drug Application (“NDA”) to the U.S. Food and Drug Administration (“FDA”); (2)Defendants falsely conveyed confidence in relacorilant’s regulatory prospects by claiming they had communicated with the FDA, foresaw no impediments to approval, and repeatedly told investors that “relacorilant is approaching approval,” when, in fact, the FDA had repeatedly raised concerns regarding the adequacy of the clinical evidence supporting the NDA; and (3)as a result of the foregoing, Defendants failed to disclose the known and material risk that Corcept’s relacorilant NDA would not be approved, rendering their statements about the Company’s business, operations, and prospects materially false and misleading at all relevant times.
What's Next for Corcept Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/CORT or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Corcept you have until April 21, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Corcept Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Corcept Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

Attorney advertising.
Prior results do not guarantee similar outcomes.

Key Takeaways Tech sector drives earnings growth, with S&P 500 Q1 growth dropping from 11.3% to 5% ex-Tech.Weak sentiment persists, yet MAGS is down while XLK has gained year to date.Strong estimate revisions and profitability keep tech ETFs like VGT, SMH, IGV in focus. As the 2025 fourth-quarter earnings season nears its end, corporate profitability remains robust and is showing clear signs of improvement. The Tech sector remains a bright spot in the earnings scorecard.

Tech Sector Drives Positive RevisionsAmid ongoing geopolitical risks and concerns over software demand and rising spending by the “Mag 7,” sentiment toward big tech has remained subdued. Year-to-date performance reflects this cautious outlook across the Mag 7 and the broader Tech sector. Roundhill Magnificent Seven ETF (MAGS - Free Report) has lost about 6.5% so far this year, while State Street Technology Select Sector SPDR ETF (XLK - Free Report) has advanced about 3.3% in the year-to-date frame.

Profitability Strength Anchored in TechEven with softer sentiment, the Mag 7 and broader Tech space continue to serve as the strongest profitability engines within the S&P 500. Their earnings outlook remains solid, thanks to consistent positive estimate revisions.

Tech’s Outsized Role in Earnings GrowthThe Tech sector has been a major driver of overall earnings growth since the third quarter of 2023 and is expected to maintain that leadership in the first quarter of 2026, per the Zacks Earnings Trend.

S&P 500 earnings are projected to grow 11.3% year over year in Q1, but this growth rate drops sharply to 5% when the Tech sector is excluded, underscoring its importance.

Broader Sector Support EmergingThe Tech sector’s strong revisions trend has helped keep overall estimate revisions in positive territory, offsetting weakness in other areas. Alongside Tech, three other sectors — Finance, Industrial Products, and Business Services — have also seen upward revisions to their Q1 2026 earnings estimates since October 2025.

ETFs in Focus

Against this backdrop, below we highlight a few technology-based exchange-traded funds (ETFs) that can be tapped now.

Vanguard Information Technology ETF (VGT - Free Report)

The underlying MSCI US Investable Market Information Technology 25/50 Index is designed to transition in and out of securities affected by pending updates to the information technology sector. VGT charges 9 bps in fees and yields 0.42% annually. The fund is heavily weighted towardNVIDIA (17.47%), Apple (14.89%) and Microsoft (12.19%).

VanEck Semiconductor ETF (SMH - Free Report)

The underlying MVIS US Listed Semiconductor 25 Index tracks the overall performance of companies involved in semiconductor production and equipment. The fund charges 35 bps in fees. It is heavy on NVIDIA (18.44%), Taiwan Semiconductor (10.48%) and Broadcom (7.07%).

iShares Expanded Tech-Software Sector ETF (IGV - Free Report)

The underlying S&P North American Expanded Technology Software Index comprises North American equities in the software industry and select North American equities from the interactive home entertainment and interactive media and services industries. The fund charges 39 bps in fees. IGV is heavy on Microsoft (9.55%), Palantir (8.24%) and Salesforce (7.49%).

First Trust NASDAQ Cybersecurity ETF (CIBR - Free Report)

The underlying Nasdaq CTA Cybersecurity Index tracks the performance of companies engaged in the cybersecurity segment of the technology and industrials sectors. The fund charges 58 bps in fees. CIBR is heavy on Cisco (9.63%), Infosys (8.64%) and Palo Alto (7.32%).

SBUX plans 600-650 new stores in FY26, spotlighting execution and new formats as it rebuilds its pipeline and targets global expansion.

Key Takeaways Qualcomm raised its quarterly dividend 3.4% to $0.92 and approved a new $20B share repurchase plan.QCOM generated $4.96B operating cash in Q1 FY26 and held $7.2B cash, supporting dividends and buybacks.Qualcomm shares fell 16.2% YoY; forward P/E 11.6 vs 27.26 industry, with FY2627 EPS estimates cut. Qualcomm Incorporated (QCOM - Free Report) recently announced a 3.4% year-over-year hike in its quarterly dividend payout to 92 cents per share or $3.68 on an annualized basis. A steady dividend payout is part of the long-term strategy of Qualcomm to provide attractive risk-adjusted returns to its stockholders. In addition, healthy dividend increases at periodic intervals have been one of its strengths.

The company also approved a $20 billion share repurchase program in addition to its existing stock buyback program announced in November 2024, under which $2.1 billion worth of shares are available for repurchase.

The current hike reflects the inherent financial strength of the company and the strong cash flow generated from continued focus on high-margin businesses and healthy execution of operating plans. Qualcomm generated $4.96 billion of net cash from operating activities in the first quarter of fiscal 2026 compared with $4.59 billion a year ago. At quarter-end, the company had $7.2 billion in cash and cash equivalents.

With a dividend yield of approximately 2.7%, Qualcomm appears to be financially strong, with healthy cash generation and a strong ability to fund dividends and share buybacks.

Some Tech Firms With Recent Dividend HikesAnalog Devices, Inc. (ADI - Free Report) , has increased its quarterly dividend by 11% to $1.10 per share. This is the 22nd consecutive year of dividend hike by the semiconductor firm. Analog Devices has returned more than $32 billion to shareholders through dividends and share repurchases in the past 22 years.

Broadcom Inc. (AVGO - Free Report) increased its quarterly dividend by 10% to 65 cents per share for fiscal 2026. This represents the 15th consecutive increase in annual dividends since fiscal 2011.

QCOM’s Price Performance, Valuation and EstimatesQualcomm shares have lost 16.2% over the past year against the industry’s growth of 59.9%.

Image Source: Zacks Investment Research

Going by the price/earnings ratio, the company's shares currently trade at 11.6 forward earnings, lower than 27.26 for the industry. 

Image Source: Zacks Investment Research

Earnings estimates for fiscal 2026 have decreased 6% to $11.28 per share over the past 60 days, while the same for fiscal 2027 are down 5.8% to $11.61.
 

Image Source: Zacks Investment Research

TOKYO and CAMBRIDGE, Mass., March 20, 2026 (GLOBE NEWSWIRE) -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, “Eisai”) and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, “Biogen”) announced today that new real‑world findings from an analysis of long‑term treatment persistence and baseline characteristics among people receiving intravenous (IV) lecanemab (generic name, brand name LEQEMBI®), an anti‑amyloid‑β (Aβ) protofibril antibody, showed that most patients continue with ongoing lecanemab therapy after the initial 18 months of treatment. The analysis was presented at the 20th International Conference on Alzheimer’s and Parkinson’s Diseases and Related Neurological Disorders (AD/PD™ 2026) in Copenhagen, Denmark, and online.

In real‑world clinical practice, patients with chronic diseases who stay on their treatments longer tend to experience better clinical outcomes and higher satisfaction.1,2 Ninety-four percent of patients who completed 18 months of lecanemab treatment in the Phase III Clarity AD chose to continue maintenance treatment by enrolling in the subsequent open-label, long-term extension (OLE) study. In the OLE of Clarity AD study, patients continue to benefit from four years of lecanemab treatment compared with the natural course of Alzheimer’s disease (Alzheimer’s Disease Neuroimaging Initiative: ADNI*).

Long-Term Persistence and Patient Characteristics for Lecanemab in Real-World Use in the United States (Presentation: March 20, 17:05 CET)
This analysis is the first time real-world lecanemab data on treatment persistence beyond 18 months has been reported.

This study was a retrospective observational analysis using the PurpleLab® CLEAR Claims database, a comprehensive dataset based on medical insurance claims across the United States and was conducted to evaluate the long‑term treatment persistence of lecanemab in real‑world clinical practice.

■ Patient background and dosing
The analysis population consisted of 10,763 individuals who met the requirement for continuous healthcare encounters, out of the 13,388 individuals recorded in the database who received at least one intravenous treatment with lecanemab between January 6, 2023 and November 30, 2025. At baseline, the mean age was 73.8 years and 56.5% were female. The most common comorbidities were dyslipidemia (42.2%) and hypertension (36.9%). The mean follow-up duration was 350.9 days. The average number of administrations was 1.7 per month, and the mean dosing interval was 16.4 days (median 14 days), which was generally consistent with the recommended every two weeks dosing.

■ Long-Term persistence results
The time-dependent proportion of patients who remained on lecanemab treatment was evaluated, using the Kaplan–Meier method in a subgroup of 371 patients who initiated treatment in 2023 and had 20 months of continuous follow-up, thereby enabling assessment of long-term treatment persistence beyond 18 months. As a result, 78.4% of individuals continued lecanemab treatment at 18 months, 71.7% at 20 months, and 67.3% at 24 months. Of the 78.4% of patients who remained on lecanemab at 18 months, the majority of them continued treatment during the maintenance period beyond 18 months, confirming a high rate of treatment persistence with lecanemab in real-world clinical practice. The patient characteristics and dosing patterns observed in this claims-based analysis were generally similar to those reported in the Clarity AD. Furthermore, the relatively high treatment adherence observed among individuals suggests that potential delays due to MRI monitoring requirements, adverse events, and other factors did not substantially affect lecanemab dosing.

Eisai serves as the lead for lecanemab’s development and regulatory submissions globally with Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority.

* ADNI is a clinical research project launched in 2005 to develop methods to predict the onset and progression of AD and to confirm the effectiveness of treatments. The project involves a multi-year longitudinal observation targeting healthy elderly individuals as well as patients with mild cognitive impairment (MCI) and early stages of AD.

MEDIA CONTACTS Eisai Co., Ltd.
Public Relations Department
TEL: +81 (0)3-3817-5120Eisai Europe, Ltd.
(Europe, Australia, New Zealand and Russia)
EMEA Communications Department
+44 (0) 7739-600-678
[email protected]

Eisai Inc. (U.S.)
Libby Holman
+1-201-753-1945
[email protected]

Biogen Inc.
Madeleine Shin
+1-781-464-3260
[email protected] CONTACTS Eisai Co., Ltd.
Investor Relations Department
TEL: +81 (0) 3-3817-5122Biogen Inc.
Tim Power
+ 1-781-464-2442
[email protected]
Notes to Editors
1. About lecanemab (generic name, brand name: LEQEMBI)
Lecanemab is the result of a strategic research alliance between Eisai and BioArctic. It is a humanized immunoglobulin gamma (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ).

Lecanemab has been approved in 53 countries and regions including Japan, the United States, China, Europe, South Korea, Taiwan, and Saudi Arabia, and is under regulatory review in 6 countries. Following the initial phase with treatment every two weeks for 18 months, intravenous (IV) maintenance dosing with treatment every four weeks was approved in 7 countries including the U.S., China, the UK, and others, and applications have been filed in 10 countries and regions. The U.S. FDA approved Eisai’s Biologics License Application (BLA) for subcutaneous maintenance dosing with LEQEMBI IQLIK in August 2025. A Supplemental Biologics License Application (sBLA) for initiation treatment was accepted in January 2026. The sBLA has been granted Priority Review, with a Prescription Drug User Fee Act (PDUFA) action date of May 24, 2026. In November 2025, an application for a subcutaneous injectable formulation in Japan was submitted. In January 2026, the Biologics License Application (BLA) for the subcutaneous formulation was accepted in China. In December 2025, Lecanemab (IV) has been included in the “Commercial Insurance Innovative Drug List”, recently introduced by the National Healthcare Security Administration (NHSA) of China.

In the global Phase 3 placebo-controlled, double-blind, parallel-group, randomized Clarity AD core study, the mean change from baseline between the lecanemab treated group and the placebo group after 18 months was -0.45 (P=0.00005) on the primary endpoint of CDR-SB global cognitive and functional scale. To provide context, a change from 0.5 to 1 on the Clinical Dementia Rating (CDR) score domains of Memory, Community Affairs and Home/Hobbies reflects a shift from mild impairment to loss of independence. This can affect a person’s ability to be left alone safely, recall recent events, participate in daily activities, manage household tasks, and engage in hobbies and intellectual interests.3,4

Over three years of treatment, including both the core study and the OLE, data showed lecanemab demonstrated a reduction in cognitive decline—measured by CDR-SB—of 1.01 points compared to the expected decline observed in the Alzheimer’s Disease Neuroimaging Initiative (ADNI) cohort. This benefit grew more pronounced after four years, with a reduction of 1.75 points. Similarly, when benchmarked against the expected decline in the BioFINDER** cohort, lecanemab showed a reduction of 1.40 points at three years and an even greater reduction of 2.17 points at the four years mark.

Since July 2020 the Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S, funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, is ongoing and includes lecanemab as the backbone anti-amyloid therapy.

** BioFINDER subjects are similar to Study 301 and ADNI subjects, except all BioFINDER subjects are in the MCI stage and no mild AD subjects are included, and their baseline CDR-SB is lower. BioFINDER is a large-scale, long-term prospective study led by Lund University in Sweden, aiming to establish early. diagnosis and elucidate pathophysiology of neurodegenerative diseases. In addition to AD, the study also focuses on conditions including Parkinson's Disease. Individuals participating in the study undergo regular clinical assessments, cognitive function tests, brain imaging (MRI, Aβ PET, Tau PET), and collection of biomarkers from blood and cerebrospinal fluid (CSF).

2. About Protofibrils
Protofibrils are believed to contribute to the brain injury that occurs with AD and are considered to be the most toxic form of soluble Aβ, having a primary role in the cognitive decline associated with this progressive, debilitating condition.3 Protofibrils cause injury to neurons in the brain, which in turn, can negatively impact cognitive function via multiple mechanisms, not only increasing the development of insoluble Aβ plaques but also increasing direct damage to brain cell membranes and the connections that transmit signals between nerve cells or nerve cells and other cells. It is believed the reduction of protofibrils may prevent the progression of AD by reducing damage to neurons in the brain and cognitive dysfunction.4

3. About the Collaboration between Eisai and Biogen for AD
Eisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority.

4. About the Collaboration between Eisai and BioArctic for AD
Since 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015.

5. About Eisai Co., Ltd.
Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology.

In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.

For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai Co., Ltd.), and connect with us on X, LinkedIn and Facebook. The website and social media channels are intended for audiences outside of the UK and Europe. For audiences based in the UK and Europe, please visit www.eisai.eu and Eisai EMEA LinkedIn.

6. About Biogen
Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patient’s lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.

The company routinely posts information that may be important to investors on its website at www.biogen.com. Follow Biogen on social media – Facebook, LinkedIn, X, YouTube.

Biogen Safe Harbor
This news release contains forward-looking statements, including about the potential clinical effects of lecanemab (marketed as LEQEMBI); the potential benefits, safety and efficacy of lecanemab; potential regulatory discussions, submissions and approvals and the timing thereof including for LEQEMBI (lecanemab) subcutaneous autoinjector (SC-AI); the potential to expand options and reduce healthcare resources by treating Alzheimer's disease at home; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “hope,” “intend,” “may,” “objective,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “prospect,” “should,” “target,” “will,” “would” or the negative of these words or other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. Given their forward-looking nature, these statements involve substantial risks and uncertainties that may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements.

These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part. We caution that these statements are subject to risks and uncertainties, many of which are outside of our control and could cause future events or results to differ materially from those stated or implied in this document, including, among others, uncertainty of our long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; expectations, plans, prospects and timing of actions relating to product approvals, approvals of additional indications for our existing products, sales, pricing, growth, reimbursement and launch of our marketed and pipeline products; the potential impact of increased product competition in the biopharmaceutical and healthcare industry, as well as any other markets in which we compete, including increased competition from new originator therapies, generics, prodrugs and biosimilars of existing products and products approved under abbreviated regulatory pathways; our ability to effectively implement our corporate strategy; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; the drivers for growing our business, including our dependence on collaborators and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; risks related to commercialization of biosimilars, which is subject to such risks related to our reliance on third-parties, intellectual property, competitive and market challenges and regulatory compliance; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; and the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov.

These statements speak only as of the date of this press release and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in our subsequent reports on Form 10-Q. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.

Digital Media Disclosure
From time to time, we have used, or expect in the future to use, our investor relations website (investors.biogen.com), the Biogen LinkedIn account (linkedin.com/company/biogen-) and the Biogen X account (https://x.com/biogen) as a means of disclosing information to the public in a broad, non-exclusionary manner, including for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). Accordingly, investors should monitor our investor relations website and these social media channels in addition to our press releases, SEC filings, public conference calls and websites, as the information posted on them could be material to investors.

References

Guerci B et al. Lack of treatment persistence and treatment nonadherence as barriers to glycaemic control in patients with type 2 diabetes. Diabetes Therapy, 2019; 10(2), 437-449.Menditto E et al. Persistence as a robust indicator of medication adherence-related quality and performance. International journal of environmental research and public health, 2021; 18(9), 4872.Cohen S., et al. J Prev Alzheimers Dis.2022;9(3):507-522.Morris JC. Neurology. 1993;43(11):2412-4.Amin L, Harris DA. Aβ receptors specifically recognize molecular features displayed by fibril ends and neurotoxic oligomers. Nat Commun. 2021; 12:3451. doi:10.1038/s41467-021-23507-zOno K, Tsuji M. Protofibrils of Amyloid-β are Important Targets of a Disease-Modifying Approach for Alzheimer's Disease. Int J Mol Sci. 2020;21(3):952. doi: 10.3390/ijms21030952. PMID: 32023927; PMCID: PMC7037706.

Key Takeaways BABA reported fiscal Q3 EPS of $1.01, missing estimates, while revenues rose 2% year over year.Cloud Intelligence revenues jumped 36%, driven by AI demand and public cloud growth.Heavy spending on AI, tech and quick commerce cut margins and reduced cash flow. Alibaba Group (BABA - Free Report) reported non-GAAP diluted earnings of $1.01 per ADS in the third quarter of fiscal 2026, which missed the Zacks Consensus Estimate by 47.12%. In domestic currency, the company reported non-GAAP diluted earnings of RMB 7.09, down 67% year over year.

It posted third-quarter fiscal 2026 revenues of $40.7 billion. The top line missed the Zacks Consensus Estimate by 1.95%. In domestic currency, revenues of RMB 284.8 billion increased 2% year over year. Excluding disposed businesses of Sun Art and Intime, revenues increased 9% on a like-for-like basis.

The revenue growth was driven by accelerated performance in Cloud Intelligence Group and continued expansion of the quick commerce business, while aggressive investments in user experience, technology and quick commerce significantly pressured margins. The company continues focusing on two strategic pillars: consumption and AI + Cloud.

Revenues by SegmentsAlibaba China E-commerce Group (55.9% of Total Revenues): Alibaba generated RMB 159.3 billion ($22.8 billion) of revenues from the segment, which increased 6% from the year-ago quarter. Customer management revenues grew 1% year over year, driven primarily by an improvement in take rate. During the quarter, the company rebranded "Ele.me" to "Taobao Instant Commerce" to closely align it with the Taobao app and strengthen brand identity. The Taobao app achieved a double-digit year-over-year increase in monthly active consumers during the quarter.

The number of 88VIP members, BABA's highest-spending consumer group, continued to increase by double digits year over year, surpassing 59 million, demonstrating strong platform momentum to attract and retain a high-spending and loyal consumer base.

E-commerce Business (82.6% of China E-commerce Revenues): The core e-commerce vertical generated revenues of RMB 131.6 billion ($18.8 billion), reflecting a 1% increase from the year-ago quarter.

Quick Commerce (13.1% of China E-commerce Revenues): The quick commerce business generated revenues of RMB 20.8 billion ($3 billion), which grew 56% year over year, driven by order growth from the expanded rollout of "Taobao Instant Commerce." The business continued to improve unit economics and increase average order value month over month during the quarter, driven by fulfillment logistics efficiency enhancement, order mix optimization and strong customer retention.

China Commerce Wholesale (4.3% of China E-commerce Revenues): The China wholesale business generated revenues of RMB 6.9 billion ($990 million), up 5% year over year, primarily due to an increase in revenues from value-added services provided to paying members.

Alibaba International Digital Commerce Group (13.8% of Total Revenues): The segment comprises AliExpress, Trendyol, Lazada and other international businesses. BABA generated RMB 39.2 billion ($5.6 billion) in revenues from the segment, which grew 4% from the year-ago quarter. AIDC narrowed its losses significantly year over year, driven by logistics optimization and investment efficiency enhancement.

International Commerce Retail (82.5% of International Revenues): Revenues were RMB 32.4 billion ($4.6 billion), up 3% from the year-ago quarter, driven by revenue increases contributed by AliExpress and other international businesses, partly offset by a decrease in Lazada revenues.

International Commerce Wholesale (17.5% of International Revenues): The business generated revenues of RMB 6.9 billion ($980 million), which rose 10% year over year, primarily due to an increase in revenues from cross-border related value-added services.

Cloud Intelligence Group (15.2% of Total Revenues): The segment generated revenues of RMB 43.3 billion ($6.2 billion), up 36% from the year-ago quarter. Revenues excluding Alibaba-consolidated subsidiaries grew 35% year over year, primarily driven by public cloud revenue growth and the increasing adoption of AI-related products and services.

AI-related product revenues maintained triple-digit growth for the 10th consecutive quarter. The company continues advancing its AI capabilities with the Qwen family of models, which surpassed 1 billion cumulative downloads on Hugging Face as of Jan. 21, 2026. In February, the company launched Qwen3.5, further strengthening its multimodal AI leadership in reasoning, coding and agentic tasks. T-Head Semiconductor, Alibaba's chip design subsidiary, brought its proprietary GPU into scaled production, supporting end-to-end AI workloads from training and fine-tuning to inference.

All Others (23.6% of Total Revenues): The segment's revenues were RMB 67.3 billion ($9.6 billion), reflecting a 25% year-over-year decrease, primarily due to the disposal of Sun Art and Intime businesses, as well as a decrease in Cainiao revenues, partly offset by growth in Freshippo and Alibaba Health.

Operating DetailsIn the fiscal third quarter, sales and marketing expenses were RMB 71.9 billion ($10.3 billion), up significantly from the year-ago quarter. As a percentage of total revenues, the figure expanded to 25.3% from 15.2%, reflecting heavy investment in user experience and quick commerce expansion.

General and administrative expenses were RMB 8.4 billion ($1.2 billion), down year over year. Product development expenses were RMB 15.5 billion ($2.2 billion), or 5.4% of revenues, reflecting continued investment in technology and innovation, particularly in AI.

Adjusted EBITDA was RMB 34.1 billion ($4.9 billion), down 45% year over year due to strategic investments in quick commerce, user experience and technology, partly offset by strong revenue growth and improving operating efficiencies across the Cloud business. The adjusted EBITDA margin contracted to 12% from 22% in the prior year. Adjusted EBITA fell 57% to RMB 23.4 billion ($3.3 billion), with the adjusted EBITA margin declining to 8% from 20%.

Balance Sheet & Cash FlowAs of Dec. 31, 2025, cash and other liquid investments were RMB 560.2 billion ($80.1 billion), up from cash and cash equivalents of RMB 188.4 billion ($26.5 billion) as of Sept. 30, 2025.

Alibaba generated RMB 36 billion ($5.2 billion) in cash from operations, down 49% from RMB 70.9 billion in the prior-year quarter, primarily due to increased investments in quick commerce operations. Free cash flow was RMB 11.3 billion ($1.6 billion), a decrease of 71% compared to RMB 39 billion in the same quarter a year ago, mainly attributed to investments in quick commerce.

The company repurchased approximately $1.1 billion (RMB 7.6 billion) worth of ordinary shares during the quarter.

Zacks Rank & Stocks to Consider

Shares in Super Micro Computer (Nasdaq: SMCI) are falling off a cliff this morning after news that the U.S. Department of Justice (DOJ) has charged the company’s cofounder and two other associates with conspiring to deliver restricted AI technology to China.

Here’s what you need to know.

What’s happened? On Thursday, the U.S. Attorney’s Office for the Southern District of New York announced that it was charging three men with ties to Super Micro Computer (aka Supermicro) for export-control violations related to AI technology.

The three individuals, the DOJ alleges, conspired “to divert high-performance computer servers assembled in the United States and [integrated] sophisticated U.S. artificial intelligence technology to China.”

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The DOJ’s indictment did not specifically name Supermicro as the company that the men worked for, but listed one of the alleged conspirators as Yih-Shyan Liaw, who cofounded the server maker more than 30 years ago and currently sits on the company’s board of directors.

Another of the two men was a direct employee of Super Micro Computer, and the third was a contractor.

In a brief statement, Supermicro confirmed that the three individuals named in the indictment were connected to the company and that the two who are employees have been placed on administrative leave, while the contractor was fired.

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