Vistra Corp. (VST - Free Report) closed at $162.33 in the latest trading session, marking a +2.75% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.89% for the day. At the same time, the Dow added 0.74%, and the tech-heavy Nasdaq gained 1.29%.
Coming into today, shares of the company had lost 5.54% in the past month. In that same time, the Utilities sector gained 0.76%, while the S&P 500 lost 0.63%.
The investment community will be paying close attention to the earnings performance of Vistra Corp. in its upcoming release. The company is slated to reveal its earnings on August 7, 2026. The company is expected to report EPS of $2.43, up 140.59% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $6.42 billion, indicating a 50.98% growth compared to the corresponding quarter of the prior year.
VST's full-year Zacks Consensus Estimates are calling for earnings of $9.53 per share and revenue of $23.85 billion. These results would represent year-over-year changes of +81.18% and +34.45%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Vistra Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.3% higher. Vistra Corp. is holding a Zacks Rank of #1 (Strong Buy) right now.
With respect to valuation, Vistra Corp. is currently being traded at a Forward P/E ratio of 16.58. This indicates a discount in contrast to its industry's Forward P/E of 17.82.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Western Alliance (WAL - Free Report) came out with quarterly earnings of $2.22 per share, missing the Zacks Consensus Estimate of $2.33 per share. This compares to earnings of $2.07 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -4.72%. A quarter ago, it was expected that this bank holding company would post earnings of $1.48 per share when it actually produced earnings of $2.22, delivering a surprise of +50%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Western Alliance, which belongs to the Zacks Banks - West industry, posted revenues of $1.01 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.28%. This compares to year-ago revenues of $856.1 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Western Alliance shares have lost about 3.7% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for Western Alliance?While Western Alliance has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Western Alliance was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.67 on $1.02 billion in revenues for the coming quarter and $9.50 on $4.06 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Northrim BanCorp (NRIM - Free Report) , is yet to report results for the quarter ended June 2026.
This holding company for Northrim Bank is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents a year-over-year change of +19.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Northrim BanCorp's revenues are expected to be $53.1 million, up 5.7% from the year-ago quarter.
Western Alliance (WAL - Free Report) reported $1.01 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 17.5%. EPS of $2.22 for the same period compares to $2.07 a year ago.
The reported revenue represents a surprise of +3.28% over the Zacks Consensus Estimate of $973.85 million. With the consensus EPS estimate being $2.33, the EPS surprise was -4.72%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Western Alliance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 58% versus the three-analyst average estimate of 55.3%.Net Interest Margin: 3.5% versus 3.3% estimated by three analysts on average.Average Balance - Total interest earning assets: $91.66 billion versus $91.25 billion estimated by two analysts on average.Net charge-offs to average loans - annualized: 0.4% versus 0.4% estimated by two analysts on average.Total non-interest income: $198.8 million versus the three-analyst average estimate of $182.88 million.Service charges and fees: $63.1 million compared to the $65.54 million average estimate based on two analysts.Net gain on loan origination and sale activities: $53.4 million versus $68.1 million estimated by two analysts on average.View all Key Company Metrics for Western Alliance here>>>
Shares of Western Alliance have returned +2.8% over the past month versus the Zacks S&P 500 composite's -0.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Webster Financial (WBS - Free Report) reported $739.99 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 3.4%. EPS of $1.60 for the same period compares to $1.52 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $749.32 million, representing a surprise of -1.25%. The company delivered an EPS surprise of -0.62%, with the consensus EPS estimate being $1.61.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Webster Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.3% compared to the 3.4% average estimate based on two analysts.Efficiency Ratio: 47.7% compared to the 48.3% average estimate based on two analysts.Total Non-Interest Income: $107.25 million versus $102.06 million estimated by two analysts on average.View all Key Company Metrics for Webster Financial here>>>
Shares of Webster Financial have returned -1% over the past month versus the Zacks S&P 500 composite's -0.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Hyperliquid, the Layer-1 blockchain for decentralized trading, is preparing to open up its outcome market infrastructure to a broader range of builders. The upcoming enhancement to HIP-4 will enable permissionless deployment of binary event contracts, marking a significant step toward scalable, on-chain prediction-style trading integrated directly with the platform’s core ecosystem.
This development builds on HIP-4’s initial mainnet launch in early May 2026, which introduced fully collateralized binary contracts that settle to 0 or 1 based on real-world or on-chain events.
These contracts trade natively alongside spot and perpetual futures on Hyperliquid’s HyperCore engine, allowing seamless cross-margining within a single account.
Traders benefit from zero opening fees in the early phase, high-speed order matching, and settlement directly in USDH, eliminating the need for separate wallets, bridges, or external resolution layers.
Currently, Hyperliquid’s team and validators curate initial “canonical” markets to ensure stability and proper mechanics.
Early examples include recurring daily BTC binary contracts, which have already demonstrated strong traction by attracting substantial volume and liquidity shortly after launch.
These controlled rollouts help validate resolution processes, auction mechanisms for price discovery, and overall system performance before wider access.
The permissionless phase, slated to begin on testnet before mainnet activation, follows a proven model similar to HIP-3’s rollout for perpetual futures. Builders will stake 500,000 HYPE tokens per deployment slot (with details around lock periods and allocations).
This stake serves as economic security: validators can slash it—and potentially burn the tokens—if deployers create ambiguous market rules, fail to settle promptly (e.g., within a week), manipulate outcomes, or cause extended downtime.
Standardized templates approved by validators will guide deployments, promoting consistency while still allowing creativity across categories like politics, sports, macroeconomic releases, crypto events, and entertainment.
Deployers stand to earn up to 50% of trading fees generated by their markets, creating strong incentives for high-quality, recurring series rather than one-off experiments.
Slot recycling further optimizes capital use, letting a single stake support ongoing rolling contracts.
This approach addresses key limitations in existing prediction platforms.
Unlike off-chain or hybrid systems, HIP-4 offers end-to-end on-chain execution, deep integration with perpetuals and spot trading for capital efficiency, and aligned incentives through slashable stakes.
It positions Hyperliquid to capture more of the rapidly growing event-contract volume while leveraging its existing user base of active traders and robust liquidity.
Industry observers note that permissionless access could dramatically expand the variety and volume of tradable outcomes—potentially orders of magnitude beyond traditional listings—while maintaining safeguards against low-quality or malicious markets.
As Hyperliquid continues refining the feature, it could challenge established players by combining the transparency and openness of decentralized markets with institutional-grade performance and risk controls.
The update underscores Hyperliquid’s strategy of iterative, security-first expansion.
By lowering barriers for builders while enforcing accountability, HIP-4’s permissionless tier aims to foster innovation in outcome markets without compromising the network’s reliability or user experience. This could further solidify the platform’s role as a comprehensive hub for on-chain trading primitives.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Ethereum Improvement Proposal (EIP) 8222 is set to adopt a STARK-based cryptographic scheme to enhance on-chain privacy for institutional stakers.
EIP-8222, an Ethereum Improvement Proposal, proposes to adopt a STARK-based cryptographic scheme to weaken the traceable correlation between staking deposit addresses, validators, and withdrawal credentials, with the goal of enhancing on-chain privacy for institutional stakers. Digital asset bank Sygnum Bank stated that this move could help attract more institutions to participate in staking, though it may also result in higher execution costs, slower asset operation processes, and additional compliance and audit requirements. The proposal remains in the discussion stage, and no launch timeline has been confirmed.
7 minutes ago
UK-based crypto treasury firm Satsuma will sell 668 Bitcoin and initiate delisting.
UK-based Bitcoin treasury firm Satsuma’s shareholders have approved the sale of its 668 Bitcoin reserves and initiated delisting procedures. The company will offload all 668 BTC, with delisting expected to be completed by September 14, 2026, and fund payments plus CREST transfers finalized by September 28. Satsuma’s Bitcoin reserve strategy lasted less than a year; it earlier raised $218 million via convertible notes, later selling some Bitcoin to repay holders of unconverted notes. As of April this year, the firm’s stock price had fallen more than 99% from its peak.
7 minutes ago
Ark Invest purchased 16,665 shares of Securitize on Tuesday, worth approximately $125,700.
According to market data from BIT (bit.com), Ark Invest, the firm led by Cathie Wood, purchased 16,665 shares of Securitize (ticker: SECZ), BlackRock’s real-world asset (RWA) platform, on Tuesday, for a total value of approximately $125,700. SECZ gained 13.9% that day, closing at $7.54.
7 minutes ago
Trump endorses crypto ethics bill: Prohibits federal officials from issuing cryptocurrencies, with the U.S. Department of Justice serving as the lead enforcement agency.
According to multiple sources familiar with the matter, the crypto ethics provision signed by Trump will bar federal officials—including members of Congress, the president, and vice president—from issuing digital assets, and designate the U.S. Department of Justice (DOJ) as the primary enforcement authority for the provision, rather than state attorneys general. This arrangement could become a new point of contention in advancing the CLARITY Act, as Democrats have long argued that states should retain certain enforcement powers. Maryland Democratic Senator Angela Alsobrooks, one of the lead negotiators for the bill, issued a statement earlier Tuesday: “The DOJ enforcing ethics provisions? This is not a serious proposal. If the language stays this way, I will not support the bill.” Her concerns over enforcement powers specifically target Trump’s personal meme coin and his family’s firm, World Liberty Financial. The ethics provision has been the final sticking point for the CLARITY Act after months of legislative hurdles. Patrick Witt, a senior White House advisor for crypto affairs, revealed the details of the ethics language during an industry call on Tuesday afternoon. The White House has not confirmed the exact text, but an official attributed the potential impasse to Democrats in an email: “If Senate Democrats block this historic legislation after the administration has gone to great lengths to accommodate their concerns, industry players should recognize that it is Democrats holding up the bill, as they have never taken legislative outcomes seriously.” Currently, both sides continue negotiations based on the current draft, and it remains unclear whether an agreement can be reached before the Senate adjourns.
7 minutes ago
A crypto whale closed out a $35 million long position in MU, booking a profit of $1.71 million.
According to EmberCN's monitoring, a whale went long on Micron Technology worth $35 million yesterday, and closed the position six hours ago, locking in a profit of $1.71 million. The entry price was $918, and the exit price stood at $964.
According to market data from BIT (bit.com), U.S. space stock Rocket Lab (RKLB) closed up 5.14% and gained over 7% in after-hours trading. The company has secured a $266 million contract from the U.S. Air Force to launch 12 suborbital vehicles, with an optional additional 6 launches. The missions will be conducted in Alaska and are scheduled for completion by the end of 2028. Separately, SpaceX rose more than 3%, ending its 7-day consecutive losing streak, and added another 1.3% in after-hours trading. SpaceX will release its Q2 2026 earnings report and hold a live earnings webcast on August 4, with the market currently focused on Starship’s next test flight.
MVMT Labs, Inc. (Movement Labs) has filed for Chapter 11 bankruptcy after a prolonged period of instability that saw the blockchain developer grapple with a disputed token launch, governance issues and a major change in strategy, according to court documents first uncovered by CoinDesk.
Founded by Rushi Manche and Cooper Scanlon, MVMT Labs developed an Ethereum layer 2 network powered by the Move programming language created at Meta, with ambitions to bring Move-based smart contracts to Ethereum while improving transaction speed and costs.
The startup raised a $38 million Series A led by Polychain Capital in April 2024, following a $3.4 million pre-seed round that brought its total disclosed equity financing to about $41.4 million.
According to Fortune, the company later pursued a roughly $100 million Series B in early 2025 led by CoinFund and backed by Brevan Howard’s digital assets arm, valuing the company at around $3 billion.
Advertisement
However, the team became embroiled in controversy after its MOVE token launch, with an internal review scrutinizing a market-making deal that allegedly granted intermediary Rentech control over 66 million MOVE tokens, a CoinDesk investigation in April 2025 found.
The controversy resulted in Binance banning the market maker and Manche exiting the project. MOVE also experienced a sharp price decline. The token last traded at $0.01, down 99% from its all-time high.
Move Industries says it is separate from bankrupt MVMT Labs Movement underwent a management overhaul in May 2025 with the creation of Move Industries, a new company formed by former Movement Labs employees to oversee the ecosystem.
Calling the transition “a clean break” following months of controversy, the firm named Torab Torabi as chief executive and Will Gaines as president and chief marketing officer. The new leadership pledged stronger governance, more transparent engagement with the community and tighter oversight, while shifting the project’s focus toward long-term technology development and ecosystem growth.
Movement announced last month that it would shift its focus toward cross-border payments, remittances and stablecoin settlement. It said it had obtained access to licensed payments infrastructure in North America and Europe as part of that strategy.
Following news of the bankruptcy, Torabi clarified in a statement that MVMT Labs is “a separate legal entity” and that Move Industries is “operating normally.”
You may have seen the news about the Chapter 11 filing by MVMT Labs, Inc. on July 15th.
Two things worth saying clearly:
1 – MVMT Labs, Inc. is a separate legal entity, and Move Industries is not part of that filing.
2 – Move Industries is operating normally.
We continue to…
— Torab (@torabyou) July 21, 2026
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Movement Labs, the original developers behind the Move blockchain, have filed for bankruptcy in the U.S. This move comes after scandals involving the MOVE token and a restructuring that led to a major overhaul of the token’s ecosystem.
Movement Labs Files For Chapter 11 Bankruptcy Court filings show that the firm filed for Chapter 11 bankruptcy last week with assets worth up to $500,000 and liabilities exceeding $1 million. Creditors include co-founder and CEO Rushi Manche, who left the company last year.
This follows several controversies that involved the MOVE token. Last year, there were allegations that Movement Labs had promised 10% of its MOVE token supply to early insiders. This had contributed to the sharp decline that the token suffered around that period.
There was also controversy about a market-making deal involving 66 million MOVE tokens that were sold after launch. The top crypto exchange Binance banned the market maker and froze the profits, which it used to compensate users.
Movement Labs also announced at the time that it had conducted an investigation and promised to carry out token buybacks. This was also around the time of the restructuring, with Move Industries taking over operations for the MOVE blockchain. Meanwhile, the company officially terminated the co-founder Rushi Manche for signing undisclosed deals.
Move Industries CEO Provides Clarification In an X post, Move Industries CEO Torab clarified that Movement Labs is a separate legal entity from Move Industries and that the latter is not part of the filing. “Move Industries is operating normally. We continue to put our heads down and build,” he assured.
Move Industries led the pivot of the Move blockchain from an Ethereum layer-2 to an independent Layer-1 network late last year. The network now positions itself as a settlement layer for stablecoin payments in emerging markets.
The MOVE token is trading flat amid this development of Movement Labs filing for bankruptcy. The token is currently trading at around 0.0108, up less than 1%, according to TradingView data.
Source: TradingView; MOVE daily chart For more information on crypto exchanges, please check out our page on Best Crypto Exchanges and Apps for 2026
The company behind the MOVE token filed a voluntary petition in Delaware listing up to $10 million in liabilities, capping a year of governance disputes, a market-making scandal and a failed strategic pivot.
MVMT Labs, Inc., the developer behind the Movement blockchain, filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on July 15, according to the court docket.
The voluntary petition, docketed as case number 26-11113 and assigned to Judge Thomas M. Horan, lists assets of between $100,001 and $1 million, liabilities of between $1 million and $10 million, and 200 to 999 creditors. The San Francisco-based company filed under Subchapter V, the streamlined small-business track of Chapter 11, and is represented by Potter Anderson & Corroon LLP.
A meeting of creditors is scheduled for Aug. 20, and the deadline for filing proofs of claim is Sept. 14, the docket shows. Chapter 11 allows a company to continue operating while it restructures its debts under court supervision.
The filing was first reported by CoinDesk, which said the company's largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue and crypto custodian Anchorage Digital.
From Meta's Move Language to Delaware CourtMovement launched as an Ethereum layer 2 built with Move, the programming language originally developed at Meta for its shelved Diem project. The network aimed to bring Move-based smart contracts to Ethereum while offering faster and cheaper transactions.
Its troubles began shortly after the December 2024 launch of the MOVE token. An April 2025 CoinDesk investigation reported that Movement was examining whether it had been misled into signing a market-making agreement that gave a single counterparty outsized influence over MOVE's circulating supply. Internal documents reviewed by the outlet showed the arrangement allowed 66 million MOVE tokens to be sold into the market one day after the token debuted, contributing to a sharp price decline.
The documents centered on Rentech, an intermediary that appeared in contracts connected to Chinese market maker Web3Port. Rentech has denied any wrongdoing or misrepresentation.
Binance banned the market-making account tied to the launch for what it described as misconduct. Movement launched a token buyback program and hired investigations firm Groom Lake to review the deal.
Movement Labs and Manche separated in May 2025. Manche later sued the startup in Delaware, as The Defiant reported.
A Pivot That Preceded the FilingIn June, the project said it would pivot away from competing with other Ethereum scaling networks and instead focus on cross-border payments, remittances and stablecoin settlement. The company said it had secured access to licensed payment infrastructure in the United States, Canada and the European Union.
The shift mirrored a broader trend in the crowded layer-2 sector, where projects have increasingly moved toward real-world payments as competition among scaling networks intensified.
It is not yet clear how the Chapter 11 process will affect Movement's blockchain, its partnerships or its payments plans.
Market ReactionMOVE traded at about $0.0108 on July 21, roughly flat over the prior 24 hours and down about 8% over the past month, according to CoinGecko. The token carried a market capitalization near $45 million, ranking it around 474th by that measure.
The price sits roughly 99% below its all-time high of $1.45, reached on Dec. 10, 2024, days after launch.
The Movement chain held about $133 million in total value locked, according to DeFiLlama.
Movement Labs files for Chapter 11 bankruptcy after months of MOVE token turmoil Latest NewsPublishedJul 21, 2026
The blockchain developer will continue operating under court supervision as it restructures following a market-making scandal, a co-founder’s suspension, and exchange delistings that rocked the project.
Movement Labs, the developer behind the Movement Ethereum layer-2 blockchain, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware, according to court records.
The petition was filed July 15 under Subchapter V, a streamlined reorganization process for qualifying small businesses. The filing allows the company to continue operating while it restructures under court supervision.
On Monday, the court approved interim requests allowing Movement Labs to maintain its bank accounts and cash management systems and obtain debtor-in-possession financing to fund operations during the bankruptcy process. Creditors have until Sept. 14 to file claims.
Following the filing, Move Industries CEO Torab Torabi wrote on X that the bankruptcy applies only to Movement Labs. Move Industries, which took over development and operations of the Movement ecosystem from Movement Labs in December 2025, continues to operate normally, according to Torabi.
Source: Torab
Market-making scandal rocked Movement before bankruptcyThe filing follows months of turmoil tied to the launch of Movement’s MOVE token and a controversial market-making agreement.
Movement Labs suspended co-founder Rushi Manche in May 2025 over a deal he helped broker with Web3Port. The market maker received 66 million MOVE, about 5% of the token’s supply, and later sold the holdings, reportedly creating roughly $38 million in downward price pressure and prompting an independent investigation.
Coinbase suspended MOVE trading later that month after determining the token no longer met its listing standards, as the review into the market-making arrangement continued.
The bankruptcy follows a prolonged decline of the MOVE token, which has fallen more than 94% over the past year to roughly $0.01.
MOVE token price over the past year. Source: CoinGecko
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Movement Labs files for Chapter 11 bankruptcy after months of MOVE token turmoil Latest NewsPublishedJul 21, 2026
The blockchain developer will continue operating under court supervision as it restructures following a market-making scandal, a co-founder’s suspension, and exchange delistings that rocked the project.
Movement Labs, the developer behind the Movement Ethereum layer-2 blockchain, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware, according to court records.
The petition was filed July 15 under Subchapter V, a streamlined reorganization process for qualifying small businesses. The filing allows the company to continue operating while it restructures under court supervision.
On Monday, the court approved interim requests allowing Movement Labs to maintain its bank accounts and cash management systems and obtain debtor-in-possession financing to fund operations during the bankruptcy process. Creditors have until Sept. 14 to file claims.
Following the filing, Move Industries CEO Torab Torabi wrote on X that the bankruptcy applies only to Movement Labs. Move Industries, which took over development and operations of the Movement ecosystem from Movement Labs in December 2025, continues to operate normally, according to Torabi.
Source: Torab
Market-making scandal rocked Movement before bankruptcyThe filing follows months of turmoil tied to the launch of Movement’s MOVE token and a controversial market-making agreement.
Movement Labs suspended co-founder Rushi Manche in May 2025 over a deal he helped broker with Web3Port. The market maker received 66 million MOVE, about 5% of the token’s supply, and later sold the holdings, reportedly creating roughly $38 million in downward price pressure and prompting an independent investigation.
Coinbase suspended MOVE trading later that month after determining the token no longer met its listing standards, as the review into the market-making arrangement continued.
The bankruptcy follows a prolonged decline of the MOVE token, which has fallen more than 94% over the past year to roughly $0.01.
MOVE token price over the past year. Source: CoinGecko
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Movement Labs has filed for Chapter 11 bankruptcy with no more than $500,000 in assets and liabilities that could reach $10 million following more than a year of turmoil around the MOVE token.
Summary
Movement Labs filed for Chapter 11 with up to $10 million in liabilities. Rushi Manche holds its largest unsecured claim, worth more than $1.6 million. Move Industries says its operations and Movement blockchain development remain unaffected. Court records show that MVMT Labs submitted its petition on July 15 in the U.S. Bankruptcy Court for the District of Delaware. The original developer of the Movement blockchain listed between $100,001 and $500,000 in assets, up to $10 million in liabilities and as many as 299 creditors.
Former co-founder and chief executive Rushikesh “Rushi” Manche holds the largest unsecured claim at more than $1.6 million, according to the filing. The document also names the Delaware Division of Corporations, Move Industries, Anchorage Digital and security auditor OtterSec among the claimants, with the Delaware agency allegedly owed $459,000.
Despite being removed from the company in May 2025, Manche still owns a 34.25% equity stake in Movement Labs. He previously sued the company in the Delaware Court of Chancery and secured payment of legal expenses connected to a U.S. Department of Justice grand jury investigation into the MOVE launch.
Movement Labs originally served as the main research and development company for Movement Network, which launched as an Ethereum layer-2 using the Move programming language. Meta initially developed Move for its abandoned Libra and Diem digital currency projects.
Before the token controversy, Movement Labs had attracted substantial venture funding. The company raised $38 million in a Series A round led by Polychain Capital, while Reuters reported in January 2025 that it was close to completing another $100 million round at a proposed $3 billion valuation.
MOVE scandal left lasting damage Movement Labs’ problems intensified after MOVE debuted on exchanges in December 2024. An investigation by CoinDesk found that a market-making agreement handed 66 million MOVE tokens, or about 5% of the supply, to a little-known intermediary called Rentech.
According to internal documents reviewed by CoinDesk, wallets linked to market maker Web3Port sold the tokens one day after MOVE’s exchange debut and generated about $38 million. The sale placed a large share of the publicly traded supply under one counterparty’s control and contributed to a steep fall in the token’s price.
Scrutiny also fell on the structure of the agreement because Rentech appeared in contracts both as a Movement Foundation agent and as a Web3Port affiliate, CoinDesk reported. Rentech denied misrepresenting itself, while Movement co-founder Cooper Scanlon told employees that the project was examining whether it had been misled.
Reviewing the documents, crypto founder Zaki Manian argued that the terms created incentives to raise MOVE’s valuation before selling tokens to retail traders.
“Even participating in a discussion where that’s on paper is insane,” Manian told CoinDesk.
Binance later banned the market-making account for what the exchange described as misconduct and froze the profits linked to the token sales. Movement Network Foundation subsequently announced a $38 million MOVE repurchase plan using the recovered funds and hired outside firm Groom Lake to investigate the agreement.
Leadership changes followed the inquiry. Movement Labs terminated Manche after alleging that he had signed undisclosed agreements, while the company transferred core development responsibilities to the newly formed Move Industries under chief executive Torab Torabi.
Trading disruptions compounded the damage. The Block reported that Binance and Coinbase suspended MOVE trading after the launch controversy, while TradingView data cited in the original report placed MOVE near $0.0108 following the bankruptcy news, with the token gaining less than 1%.
Move Industries remains outside the filing Move Industries has denied any involvement in the Chapter 11 case and continues to operate the blockchain separately from Movement Labs. Addressing the filing on X, Torabi stressed that the two companies are distinct legal entities.
“Move Industries is operating normally. We continue to put our heads down and build.”
Movement Network Foundation confirmed in December 2025 that Move Industries had become the network’s primary service provider and assumed its main operating duties. Under that arrangement, the foundation remains the independent network steward, while Move Industries handles development, operations and ecosystem work.
Following the corporate separation, Move Industries converted Movement from an Ethereum layer-2 into an independent layer-1 network. The company has since positioned the chain as infrastructure for stablecoin payments, cross-border transfers and remittances in emerging markets.
Movement Labs is the second prominent crypto company to seek U.S. bankruptcy protection in recent months. In May, Nasdaq-listed Bitcoin Depot entered Chapter 11 in the Southern District of Texas to close its crypto ATM business and sell its assets under court supervision.
Unlike Movement Labs, Bitcoin Depot blamed tighter state rules, lower transaction limits, litigation and enforcement pressure for making its model unsustainable. The company took more than 9,000 kiosks offline and included its Canadian entities in the court-supervised process, according to its May 18 announcement.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Alaska Air Group (ALK - Free Report) came out with a quarterly loss of $0.92 per share versus the Zacks Consensus Estimate of a loss of $0.97. This compares to earnings of $1.78 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +5.16%. A quarter ago, it was expected that this airline would post a loss of $1.61 per share when it actually produced a loss of $1.68, delivering a surprise of -4.35%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Alaska Air, which belongs to the Zacks Transportation - Airline industry, posted revenues of $4.07 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.73%. This compares to year-ago revenues of $3.7 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Alaska Air shares have lost about 8.5% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for Alaska Air?While Alaska Air has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Alaska Air was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.41 on $4.31 billion in revenues for the coming quarter and -$0.06 on $15.85 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Airline is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, JetBlue Airways (JBLU - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on July 28.
This airline is expected to post quarterly loss of $0.70 per share in its upcoming report, which represents a year-over-year change of -337.5%. The consensus EPS estimate for the quarter has been revised 26.4% higher over the last 30 days to the current level.
JetBlue Airways' revenues are expected to be $2.7 billion, up 14.4% from the year-ago quarter.
Alaska Air Group (ALK - Free Report) reported $4.07 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 9.8%. EPS of -$0.92 for the same period compares to $1.78 a year ago.
The reported revenue represents a surprise of -0.73% over the Zacks Consensus Estimate of $4.09 billion. With the consensus EPS estimate being -$0.97, the EPS surprise was +5.16%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Alaska Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Passenger Load Factor: 82.3% versus 84.1% estimated by five analysts on average.Total revenue per ASM (RASM): 16.72 cents versus the four-analyst average estimate of 16.87 cents.Available seat miles (ASM): 24.31 billion compared to the 24.28 billion average estimate based on four analysts.Revenue passenger miles (RPM): 20.01 billion compared to the 20.45 billion average estimate based on four analysts.Fuel Expenses: $1.31 billion versus $1.32 billion estimated by four analysts on average.Economic fuel cost per gallon: $4.43 versus the four-analyst average estimate of $4.46.Passenger Yield: 18.21 cents compared to the 18.18 cents average estimate based on three analysts.Fuel gallons: 295.00 Mgal versus the three-analyst average estimate of 296.06 Mgal.Operating expenses per ASM, excluding fuel and special items: 11.4 cents versus 11.55 cents estimated by three analysts on average.Total Passenger Revenue: $3.64 billion compared to the $3.71 billion average estimate based on five analysts. The reported number represents a change of +8.6% year over year.Revenue- Loyalty program other revenue: $258 million versus the four-analyst average estimate of $224.08 million. The reported number represents a year-over-year change of +22.9%.Revenue- Cargo and other: $163 million compared to the $163.01 million average estimate based on four analysts. The reported number represents a change of +17.3% year over year.View all Key Company Metrics for Alaska Air here>>>
Shares of Alaska Air have returned -5.7% over the past month versus the Zacks S&P 500 composite's -0.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
, /PRNewswire/ -- Hagens Berman, a leading national shareholder rights law firm, is conducting an investigation into Peabody Energy Corporation (NYSE: BTU) regarding alleged violations of federal securities laws. This investigation follows the recent filing of a class action lawsuit, which alleges that Peabody misled investors concerning the operational status and production capabilities of its flagship underground longwall metallurgical coal mine, Centurion, in Queensland, Australia.
INVESTOR NOTICE: DEADLINE APPROACHING
Action: Submit your Peabody losses here Class Period: Oct. 14, 2024 – May 4, 2026 Lead Plaintiff Deadline: Aug. 24, 2026 Visit: www.hbsslaw.com/investor-fraud/btu Contact the Firm Now: [email protected] | 844-916-0895 Focus of Peabody Energy (BTU) Securities Class Action:
The pending securities class action alleges that Peabody and its management made materially false and misleading statements regarding the true state of the Centurion mine and its readiness to achieve full-scale production. The complaint contends that throughout the class period, the company repeatedly assured investors that development was on track—highlighting in February 2026 that the team was installing the "very last shield" and that mining of premier metallurgical coal had begun.
Plaintiffs allege these statements were false because the company was encountering mechanical, electrical, and operational issues that severely impaired the ramp-up, all of which management allegedly knew or recklessly disregarded while maintaining positive production and financial guidance.
The truth behind these alleged misrepresentations emerged in stages through surprise disclosures. On March 30, 2026, Peabody filed a current report with the SEC abruptly slashing its first-quarter Centurion production guidance from approximately 700,000 tons down to roughly 250,000 tons.
The news sent the price of Peabody shares down almost 10%.
Subsequently, on May 5, 2026, the company disclosed further setbacks, lowering its full-year sales outlook for Centurion to 2.5 million tons and citing commissioning and operational headwinds. This full year 28% reduction helped send the price of Peabody shares down nearly 6%.
"Our investigation is actively probing the full scope of these pending claims to determine exactly when Peabody's management knew that the production ramp-up at the Centurion mine was falling off track," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation of the alleged claim in the pending suit.
Investor Rights
Investors who purchased or acquired Peabody Energy common stock during the Class Period are encouraged to contact our legal team:
Report your losses to HBSS: Click here Email: [email protected] Phone: 844-916-0895 If you'd like more information and answers to other frequently asked questions about the Peabody case and the firm's investigation, read more.
Whistleblowers: Persons with non-public information regarding Peabody Energy should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
New York, New York--(Newsfile Corp. - July 21, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Peabody Energy Corporation (NYSE: BTU) between October 14, 2024 to May 4, 2026, inclusive (the "Class Period"), of the important August 24, 2026 lead plaintiff deadline.
SO WHAT: If you purchased Peabody Energy common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Peabody Energy class action, go to https://rosenlegal.com/cases/peabody-energy-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 24, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, 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 Peabody Energy's Centurion mine and the multitude of issues causing delays to the ramp-up and the return to full longwall production dates. On March 30, 2026, Peabody Energy issued a press release lowering guidance pertaining to Centurion mine's expected first quarter 2026 output ahead of Peabody Energy's full earnings release. In pertinent part, defendants announced that sales volume from the Centurion mine was expected to deliver approximately 250,000 tons in the first quarter due to mining commissioning challenges (compared to previous estimates of around 700,000 tons). When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Peabody Energy class action, go to https://rosenlegal.com/cases/peabody-energy-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
-------------------------------
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305956
Source: The Rosen Law Firm PA
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
In the latest trading session, Leidos (LDOS - Free Report) closed at $104.92, marking a -1.96% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.89% for the day. Elsewhere, the Dow saw an upswing of 0.74%, while the tech-heavy Nasdaq appreciated by 1.29%.
Coming into today, shares of the security and engineering company had gained 2.08% in the past month. In that same time, the Computer and Technology sector lost 6.6%, while the S&P 500 lost 0.63%.
Market participants will be closely following the financial results of Leidos in its upcoming release. The company plans to announce its earnings on August 4, 2026. The company is expected to report EPS of $2.9, down 9.66% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.36 billion, up 2.55% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.3 per share and revenue of $18.12 billion. These totals would mark changes of +2.59% and +5.53%, respectively, from last year.
Any recent changes to analyst estimates for Leidos should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.41% higher. Leidos presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Leidos is holding a Forward P/E ratio of 8.7. This indicates a discount in contrast to its industry's Forward P/E of 12.98.
Investors should also note that LDOS has a PEG ratio of 1.57 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Computers - IT Services stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 68, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Dropbox (DBX - Free Report) ended the recent trading session at $29.42, demonstrating a -3.64% change from the preceding day's closing price. This change lagged the S&P 500's 0.89% gain on the day. Elsewhere, the Dow saw an upswing of 0.74%, while the tech-heavy Nasdaq appreciated by 1.29%.
The online file-sharing company's stock has climbed by 18.33% in the past month, exceeding the Computer and Technology sector's loss of 6.6% and the S&P 500's loss of 0.63%.
The investment community will be paying close attention to the earnings performance of Dropbox in its upcoming release. The company is slated to reveal its earnings on August 6, 2026. The company is forecasted to report an EPS of $0.74, showcasing a 4.23% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $625.6 million, down 0.02% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.08 per share and revenue of $2.5 billion. These totals would mark changes of +8.45% and -0.65%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Dropbox. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Dropbox possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Dropbox is presently trading at a Forward P/E ratio of 9.91. This expresses a discount compared to the average Forward P/E of 17.28 of its industry.
It's also important to note that DBX currently trades at a PEG ratio of 2.26. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. DBX's industry had an average PEG ratio of 1.87 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 100, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Freshpet (FRPT - Free Report) closed at $58.62 in the latest trading session, marking a +2.93% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.89% for the day. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, added 1.29%.
Heading into today, shares of the seller of refrigerated fresh pet food had gained 11.84% over the past month, outpacing the Consumer Staples sector's gain of 2.44% and the S&P 500's loss of 0.63%.
The upcoming earnings release of Freshpet will be of great interest to investors. The company's earnings report is expected on August 5, 2026. The company is forecasted to report an EPS of $0.21, showcasing a 36.36% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $292.7 million, up 10.58% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.76 per share and a revenue of $1.21 billion, signifying shifts of -33.33% and +9.52%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Freshpet. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Freshpet is currently a Zacks Rank #3 (Hold).
With respect to valuation, Freshpet is currently being traded at a Forward P/E ratio of 32.45. This expresses a premium compared to the average Forward P/E of 13.6 of its industry.
The Food - Miscellaneous industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 197, this industry ranks in the bottom 20% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FRPT in the coming trading sessions, be sure to utilize Zacks.com.
On July 21, 2026, CoStar Group Inc (CSGP) shares fell 4.0% to a current price of $28.50. This decline comes amid a volatile year, with the stock down 57.6% year
What BOOST Mode Does@Pumpfun has activated a new feature called BOOST mode, designed to recover more than $100M in annual liquidity that was previously lost during token migrations. Under the old system, a portion of the capital accumulated inside a bonding curve was effectively stranded during the graduation process, never making it into the new trading pool.
The BOOST mechanism changes that. According to @Pumpfun, every newly bonded asset now automatically receives 17.6 $SOL or $2,516 $USDC reinjected into it immediately upon graduation. The capital is deployed over five minutes through a series of systematic buybacks and burns, designed to support price action at the most vulnerable moment in a token's lifecycle.
To manage execution risk, the protocol uses a Time-Weighted Average Price (TWAP) strategy. Rather than deploying capital in a single transaction, TWAP spreads purchases across a defined window, reducing the chance of front-running or adverse price impact. The net result, according to the team, is that 20% of liquidity previously sacrificed to protocol friction is now put to work supporting each graduating token.
Context: Pumpfun's Migration Architecture A Pump.fun token graduates when its bonding curve is fully sold out, meaning 100% of the 800 million tradable tokens have been bought. Pump.fun launched PumpSwap in March 2025, and graduations have gone there ever since. Tokens that complete their bonding curve now migrate directly to PumpSwap, removing the 6 SOL migration fee that previously applied.
The BOOST update sits on top of that architecture. By capturing capital that historically disappeared into protocol overhead, it gives newly graduated tokens an immediate liquidity injection rather than leaving them to find their footing in the open market with whatever the bonding curve left behind.
The move is the latest in a broader push by Pump.fun to shore up its ecosystem economics. Pump.fun's gross protocol revenue totaled $971.37 million in 2025 but is annualizing to roughly $320 million so far in 2026, according to DefiLlama data. Earlier this year, the team unveiled a structured buyback-and-burn program directing 50% of revenue from core products, the bonding curve, PumpSwap, and its terminal, to irreversible smart contracts that purchase and burn $PUMP for at least one year.
BOOST mode extends that logic down to the individual token level, attempting to make every graduation event more robust for traders and token creators alike.
Sources
CoinDesk: Pump.fun Burns 36% of PUMP Supply, Locks 50% Revenue Into Buybacks
CryptoNews Australia: Pump.fun Unveils PumpSwap DEX and Token Migration Strategy
The Solana launchpad's co-founder says the change adds about 20% liquidity to each newly migrated coin, with all figures the company's own projections.
Pump.fun, the Solana-based token launchpad, introduced a launch mechanism it calls BOOST mode, describing it in a post on X as "the new standard launch mechanism for EVERY new pump fun coin."
The company said BOOST reinjects future liquidity into every bonded coin, framing the change as a response to lost liquidity at token migration. "Over $100M in dead liquidity is lost every year when tokens migrate," Pump.fun wrote in the same post. "Now, we're reinjecting future liquidity into EVERY BONDED COIN."
On Pump.fun, coins graduate, or "bond," from an initial bonding curve to a liquidity pool once they hit a set market capitalization.
Co-founder Alon Cohen, posting as a1lon9, put a figure on the effect, saying the update "increases liquidity by ~20% for every newly migrated coin with no changes to how trading feels on the bonding curves or the liquidity pools." He added that "over time, this will inject hundreds of millions of Dollars into the ecosystem," and called it "pure upside for users."
The ~20% figure, the $100 million annual dead-liquidity estimate, and the projected ecosystem inflows are all company statements rather than independently measured results. Pump.fun did not publish an accompanying dataset with the announcement, and the per-coin liquidity effect is a projection tied to future migrations rather than an observed onchain outcome.
Pump.fun has become the dominant memecoin launchpad on Solana, and has repeatedly changed how newly launched tokens handle liquidity. The platform previously rolled out USDC-paired liquidity pools for token launches.
The company did not specify a phased rollout in the announcement, describing BOOST as the standard mechanism for every new coin. Whether the stated liquidity increase materializes will depend on the volume of coins that bond and migrate under the new default.
Pump.fun has introduced BOOST mode, a new launch mechanism that automatically reinjects liquidity through token buybacks and burns after coins complete the platform’s bonding curve.
Introducing BOOST mode – the new standard launch mechanism for EVERY new pump fun coin
Over $100M in dead liquidity is lost every year when tokens migrate. Now, we’re reinjecting future liquidity into EVERY BONDED COIN.
Learn more 👇 pic.twitter.com/FJEE0rSXiB
— Pump.fun (@Pumpfun) July 21, 2026
The Solana memecoin launchpad said more than $100 million in liquidity becomes permanently trapped each year when tokens migrate from their bonding curves. The platform refers to this capital as dead liquidity because it remains locked in liquidity pools even after traders sell their holdings.
Advertisement
Under the previous migration structure, each token sacrificed roughly 20% of its liquidity, according to Pump.fun. BOOST mode redirects part of that capital into market purchases during the five minutes immediately following a migration.
The mechanism reinjects 17.6 SOL for SOL trading pairs or $2,516 for USDC pairs. Purchases are executed gradually through a time weighted average price system, with the acquired tokens automatically burned after each transaction.
Pump.fun said the feature does not require creators or traders to activate it. All eligible coins migrating after 10:23 a.m. Eastern Time on July 21 will automatically use the BOOST configuration.
Tokens that migrated before the cutoff will not receive the feature. Coins launched through Pump.fun’s Mayhem system are also excluded.
Pump.fun said the trading experience will remain unchanged, while the redirected liquidity is intended to create additional buying pressure and permanently reduce the circulating supply of migrated tokens.
Pump.fun’s native PUMP token traded largely flat following the announcement, although it remained up more than 30% over the previous seven days.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Memecoin launchpad Pump.fun has introduced BOOST mode as the default launch mechanism for every newly migrated token, marking one of the platform's biggest changes to its token launch process.
The update automatically reinjects liquidity that previously became permanently locked during migration. Instead of leaving that capital unused, BOOST mode deploys it through automatic buybacks and burns over a 5-minute period immediately after a token migrates.
According to pump.fun, more than $100 million in liquidity becomes dead liquidity every year. The platform said that capital could instead support newly migrated tokens during what it considers a critical stage of their lifecycle.
How BOOST Mode Works Historically, every token migrating from the bonding curve sacrificed about 20% of its liquidity. Pump.fun refers to this permanently locked capital as dead liquidity because traders cannot access it, even if every holder eventually sells.
Under BOOST mode, that liquidity now funds automatic buybacks after migration. Pump.fun said each migrated token receives reinjected liquidity worth 17.6 $SOL for SOL trading pairs or about $2,516 for $USDC pairs. The system executes time-weighted average price purchases over 5 minutes, and automatically burns every token it buys.
The company said the trading experience remains unchanged on both the bonding curves and liquidity pools. BOOST mode activates automatically for every pump.fun token that migrated after 10:23 a.m. EST on July 21. Tokens that migrated before that time, along with projects launched through Mayhem, do not receive the new configuration.
Pump.fun co-founder Alon said the change increases liquidity by about 20% for every newly migrated coin without changing how users trade. He added that the system could inject hundreds of millions of dollars into the ecosystem over time.
After the announcement, one user asked why the liquidity boost lasts only 5 minutes instead of running longer.
Pump.fun co-founder Sapijiju replied that the goal is to help tokens immediately after migration because the team believes that period is critical to their long-term success.
Update Follows Growing Liquidity Criticism The launch comes after weeks of criticism surrounding liquidity on pump.fun meme coins, particularly as traders compared the platform with Robinhood's launchpad.
Some users argued that Robinhood Chain meme coins maintained significantly deeper liquidity than comparable pump.fun tokens despite having smaller market caps.
Others questioned how some pump.fun tokens with valuations in the tens of millions of dollars could experience large price swings from relatively modest sell orders.
The debate intensified as several traders claimed that shallow liquidity limited the amount of capital buyers could deploy without causing significant slippage.
Traders Welcome the Change Popular trader and Bullpen co-founder Ansem described the update as a meaningful improvement. He said 20% deeper liquidity on all bonded pump.fun coins could address one of the biggest reasons many tokens struggle to reach higher valuations. According to Ansem, buyers often avoid making larger purchases because high slippage makes entering positions too expensive. He added that the change should produce more tokens capable of sustaining stronger price moves.
The announcement also aligns with ideas Ansem previously discussed on the Market Bubble podcast. When co-host Banks asked what changes he would make if he ran pump.fun, Ansem listed deeper liquidity as one of his top priorities, alongside delivering the platform's anticipated airdrop and reducing copycat token launches.
The update directly addresses one of the most common criticisms surrounding pump.fun's launch model by redirecting liquidity that previously remained locked forever back into newly migrated tokens.
Meanwhile, pump.fun’s native token $PUMP is up almost 40% in the last 7 days, making it the top gainer among the top 100 coins by market cap. The token’s price action has defied its July 12 unlock event, which released 82.5 billion $PUMP allocated to team members and investors.
Read More on SolanaFloor Hylo Starts Its Multi-Asset Expansion With 3x Bitcoin Token $xBTC
Jito’s JTX Goes Live, Giving Solana DeFi Its First Professional-Grade Trading Venue
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
News Predictions Converter Calculator Podcast Active Currencies: 17,711
Market Cap: $2.345T
Bitcoin Dominance: 56.84%
24h Market Cap Change: $1.52
Aster's ecosystem is expanding rapidly, but traders are waiting for stronger adoption before rewarding ASTER.
Updated 16:00 EDT July 21, 2026
Aster has expanded rapidly across tokenized assets and infrastructure, but investors are still waiting for those developments to translate into stronger demand for ASTER.
Aster’s H1 2026 growth In H1 2026, Aster launched its own L1, added staking, expanded into 112 RWA markets, and opened new listing routes through Aster Open Standards.
The platform also improved execution with features such as TWAP, Chase Order, Scale Order, and sub-accounts. In addition, Aster Code attracted builders and generated $12 billion in volume.
The biggest change for the token came in June.
AMBCrypto previously reported that Aster began using 99% of daily platform fees to buy back ASTER for stakers, alongside an ongoing burn programme designed to reduce total supply. This model is similar to Hyperliquid’s [HYPE].
Ideally, the mechanism could help remove 5 billion ASTER tokens from circulation over time.
Traders want more proof Looking ahead, Aster Vault could bring more capital into the ecosystem, Aster Card may create everyday utility, and the expanded TradFi offerings could attract many more traders.
More importantly, platform activity can feed into staking rewards and token buybacks, since most daily fees are now used to purchase ASTER.
Source: TradingView However, traders don’t seem convinced. ASTER traded near $0.626 at press time, and has spent much of the recent period moving within a narrow range. The daily RSI was at 48, so the pace is neutral. OBV has improved from earlier lows, but there isn’t enough for a proper breakout.
Source: Coinalyze Derivatives traders are also just as wary. Aggregated Open Interest fell to around $149 million, so there isn’t a lot of leveraged participation. Funding was positive at about 0.0043, so long positions still have a slight bias. Positioning remained cautiously bullish rather than overly optimistic.
For now, the roadmap alone appears insufficient to drive a sustained rally. Traders are likely waiting for stronger evidence that these initiatives translate into higher activity, fee generation, and token demand.
Final Summary Aster’s 99% fee buyback and proposed 5 billion ASTER burn bring token demand. However, traders are still waiting for real results. Related Articles
Home Altcoin Aster’s 112 RWA markets are live, so why is ASTER still stuck?
Bitcoin price has retreated from nearly $67,000 after escalating U.S.-Iran hostilities pushed oil prices higher and tempered optimism created by progress on the CLARITY Act.
Summary
Bitcoin pulled back after briefly touching $66,965 as sellers defended the $67,000 resistance level. CLARITY Act progress, ETF inflows and short liquidations fueled BTC’s rapid advance. Rising oil prices and the U.S.-Iran conflict threaten a sustained breakout toward $70,000. According to data from crypto.news, Bitcoin (BTC) price rose from an intraday low of $65,149 to $66,965 on July 21 before sellers forced the price back to about $66,440. The asset remained up 1.8% on the day, but its failure to hold $67,000 showed that traders were unwilling to chase the rally as energy and inflation risks returned.
CLARITY Act progress and ETF inflows have fueled Bitcoin’s rally Bitcoin’s advance began after the White House and Senate negotiators reached an agreement on an ethics provision that had delayed the Digital Asset Market Clarity Act. Treasury Secretary Scott Bessent described negotiations as being at the “1-yard line,” while senators suggested the bill was close to a final vote.
The proposed ethics rules address concerns about elected officials and senior government figures holding or promoting crypto assets while in office. Reports that President Donald Trump had accepted the provision helped crypto-linked stocks rally, with Coinbase and Circle shares gaining as much as 10% during the session.
U.S. spot Bitcoin exchange-traded funds added another source of demand. According to SoSoValue data, the funds recorded about $227 million in net inflows on July 20, their fifth consecutive positive session and their longest inflow run since April.
The ETF streak followed a difficult June, when investors withdrew billions of dollars from the products. Five days of fresh allocations have helped absorb available supply while Bitcoin has recovered from its June low near $58,000.
Spot activity also remained firm during the latest advance. Commenting on the order flow, analyst Ted Pillows wrote:
“Consistent spot buying for BTC now. This looks much better.”
Leverage amplified the initial breakout. Market data showed roughly $223 million in crypto positions liquidated over 24 hours, including about $181 million in shorts. Forced purchases by bearish traders helped Bitcoin clear $65,000 and accelerate through the $66,000 resistance area.
A separate derivatives event later exposed the rally’s fragility. According to trader Daan Crypto Trades, a position worth more than $100 million appeared to close at market, erasing over $250 million in Bitcoin open interest within one minute.
$BTC Massive $100M+ long just seemingly market closed.
$250M+ in Open Interest gone in a single 1 minute candle on BTC alone.
Meanwhile price retraced most of it minutes later.
Wonder what the idea was there, can't imagine that was a desired execution on that position. Fat… pic.twitter.com/he1nQXsP5n
— Daan Crypto Trades (@DaanCrypto) July 21, 2026 BTC briefly fell toward $65,900 before recovering most of the decline, which Daan attributed to a possible execution error or an attempt to trigger cascading liquidations.
Oil risks and overhead supply have blocked a clean $67,000 breakout Oil prices have complicated the bullish setup. U.S. crude climbed about 2.6% to $84.70 per barrel, its highest level since June 12, as supply fears grew across the Strait of Hormuz and the Red Sea.
Washington carried out a tenth consecutive day of strikes against Iran, while Trump warned that Tehran “will pay” for attacks that killed American soldiers. Reuters also reported damage to a tanker near the Strait of Hormuz and disruption involving Saudi crude shipments after threats from Iran-aligned Houthi forces.
Higher energy costs could feed into July inflation and give the Federal Reserve less room to support financial markets. The dollar strengthened as traders reassessed the chances of higher interest rates, creating a potential headwind for Bitcoin and other speculative assets.
On the daily chart, BTC has moved above the Bollinger Band midpoint at $63,839 and briefly exceeded the upper band near $66,100. Trading above the upper band confirms strong buying pressure, but the rejection from $66,965 raises the risk of a pullback toward the band’s midpoint.
Bitcoin daily price chart — July 22 | Source: crypto.news The Average Directional Index stood at 23.08. A reading below 25 means the daily trend has not yet gained enough strength to confirm a sustained directional move, despite Bitcoin’s recovery from the June trough.
Bitcoin has also reached the upper boundary of an ascending parallel channel on the four-hour chart. Resistance sits between $67,000 and $67,800, while the channel floor runs near $64,000. A four-hour close above $67,800 would clear the structure and expose $69,500, followed by the psychological $70,000 level.
Bitcoin 4-hour price chart — July 22 | Source: crypto.news Momentum still favors buyers. The four-hour MACD line stood at 592.66, above its 441.46 signal line, while the positive histogram reached 151.19. The Chaikin Money Flow reading of 0.35 showed that capital continued to enter the market despite the rejection.
CoinGlass’ three-day liquidation heatmap places the closest overhead leverage around $66,800 to $67,300, with another concentration near $68,000. A move through those levels could force additional short closures. Below price, liquidation pools appear around $65,300, $64,800, and $64,200.
Bitcoin liquidation heatmap | Source: CoinGlass The bullish case would weaken if BTC closes below the channel floor and loses the daily Bollinger midpoint near $63,800. Such a breakdown could expose the lower daily band at $61,578, while renewed oil gains, further military escalation, or declining ETF inflows would add pressure. Bitcoin must therefore convert $67,000 into support before the latest recovery can extend toward $70,000.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
You might have heard about BIP-110; here’s why this fork is not just bad for Bitcoin, but it is built on a misunderstanding of what a Bitcoin node is and what it is good for. As well as why, because of this misunderstanding, BIP-110 will fail.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
BIP-110 is a Bitcoin Improvement Proposal titled as a Reduced Data Temporary Softfork. The BIP proposes a consensus change to Bitcoin, which attempts to limit the types and amounts of arbitrary data that can be added to consensus-valid transactions by limiting a wide range of Bitcoin’s scripting capabilities. BIP-110 is led by a pseudonymous developer known as Dathon Ohm and is widely supported by the Knots community, an alternative implementation of Bitcoin led by one of Bitcoin Core’s earliest contributors, Luke Dashjr and its supporters.
The BIP-110 consensus change is headed towards a mandatory signaling period in the coming weeks and thus a potential fork with the main consensus rules as implemented in Bitcoin Core. The proposal needs to gain a great deal of support from miners within the coming weeks to change Bitcoin consensus. As of the time of writing, miner signaling for BIP-110 stands at less than one percent.
The Knots community, widely made up of Bitcoiners running nodes on machines like Start9 and Umbrel, has rallied around Knots in protest of a series of development decisions made by Bitcoin Core, the primary open source development community and reference implementation of Bitcoin. While a majority of senior Bitcoin developers are either opposed or apathetic to the changes proposed by BIP-110, the movement has gained enough steam to become an ongoing topic of discussion on social media.
Supporters of BIP-110 believe that by running Bitcoin full nodes that signal for the consensus change, they alone can change Bitcoin. Here are the main concepts being debated, the biggest misconceptions about Bitcoin consensus, what a Bitcoin node is, and why BIP-110 is almost certain to fail.
The Power and Limits of a Bitcoin Node Many of the disagreements and misconceptions in this recent cultural conflict within Bitcoin revolve around the idea of a Bitcoin full node. Influencers like Knut Svanholm, author and podcaster, have elevated the role of the full node to heights perhaps too close to the sun.
Knut recently tweeted: “Every person on Earth is a node in the Bitcoin network. Most to a minuscule extent, of course, but every node is first and foremost a person, not a machine. Which tools we use to interact with the network (and, by extension, to which extent they influence the network) is entirely dependent on the choices we make.”
Statements of this sort are poetically beautiful, philosophically grand, romantic even, but nevertheless technically incoherent and fundamentally meaningless. Knut’s tweet attempts to redefine what a ‘Bitcoin node’ means and fails at it, instead diluting the value of the term entirely. He might as well have said that every atom in the universe is a Bitcoin node, since apparently to him the term is all-encompassing.
Knut, though well-intentioned, is wrong. A Bitcoin node is something very specific. It is a full copy of all of Bitcoin’s transaction history, block headers and transaction-related data. Its purpose is very specific: to let users verify the integrity of Bitcoin’s supply and transaction history in relation to Bitcoin’s consensus rules.
Bitcoin nodes grant users a variety of benefits, such as privacy. Third-party wallet providers query their copy of the Bitcoin blockchain for the user’s balance and serve it back to the user via the wallet app. Most mobile wallets function this way, with users asking a third-party server for their balances; some, very few, can connect to a user-run local Bitcoin node, in which case the user’s public addresses and balances are not shared with any third-party wallet company.
Another benefit Bitcoin nodes grant users is the ability to check whether they are in consensus with the rest of the network, staying in sync. If the user mines Bitcoin or contributes any significant amount of hashing power to Bitcoin’s proof-of-work network, the node also provides the opportunity to assemble a block, choosing which transactions go into it. This is only possible if the user manages to mine a Bitcoin block, which is quite an achievement today, given the difficulty and steep competition.
Even new kinds of mining pools like Ocean, which attempt to decentralize block template production, letting retail miners have more influence over which transactions enter the chain, still need enough hashing power to win the proof-of-work race, resulting in sporadic blocks being mined and thus limited influence over the blockchain.
Bitcoin nodes also relay transactions across the network, with tens of thousands of them communicating via a flood network; this results in a censorship-resistant system where a small number of nodes can get controversial transactions to miners, bypassing any kind of filters, as demonstrated by Peter Todd’s relay libre. Thus, Bitcoin nodes can not easily filter which transactions enter the blockchain.
Even a large majority of Bitcoin nodes alone can not, however, change Bitcoin consensus. Not without having a large amount of economic activity entering the Bitcoin network through them, as exchanges do on behalf of millions of users. Not without having the protocol and application developer community behind them. Not without having the investor community behind them. Bitcoin is not a node democracy, contrary to popular memes today.
Bitcoin nodes do not grant you ‘citizenship’ in the ‘Bitcoin nation’. Satoshi Nakamoto was quite clear about this in the Bitcoin white paper. Bitcoin’s ultimate security and governance structure is: one CPU cycle, one vote, not one Bitcoin node, one vote. And miners, who run the CPU cycles over Bitcoin’s proof-of-work, are very sensitive to investor sentiment and the broader developer community, resulting in a distributed global protocol for money that is very difficult to change.
Bitcoin nodes ultimately let you know if you are connected to the network with the most accumulated proof-of-work and that its consensus rules are being followed, but a node alone does not let you change the consensus rules. Users who change the consensus rules of their Bitcoin node are, by definition, no longer running Bitcoin. As a result, changing Bitcoin consensus as a node runner is very difficult, and that’s a feature, not a bug. Bitcoin is money for enemies.
History and Bitcoin Consensus Games Deep work has been done, trying to understand Bitcoin consensus, its various pillars and interest groups. Ren Crypto Fish, Steve Lee and Lyn Alden identified six of them in BCAP, an open-source effort to analyze Bitcoin consensus and risks in protocol upgrades. BCAP identified stakeholders such as Economic Nodes, Investors, Media Influencers, Miners and Protocol Developers, and Users and Application Developers
Historically, in the case of a consensus crisis, it is true that Bitcoin nodes have been used to signal support for one version of Bitcoin over another. Fork events like 2017’s Bitcoin Cash fork are often cited as examples of economic nodes winning against opposition by miners. 2017’s legendary User Activated Soft Fork (UASF) faced major opposition in theory; a large majority of mining pools and their corresponding collective hashrate supported the Segwit2x version of Bitcoin, with many exchanges and corporations having signed the infamous New York Agreement.
The Bitcoin node-supported soft fork won nonetheless, bluffing the Segwit2x version from a contested blockchain altogether. But that’s the thing: while the Bitcoin nodes technically won, they did so by having massive support from protocol developers, investors and media influencers: these nodes really had economic weight and rough consensus. BIP-110, on the other hand, does not have the protocol developers, nor does it have enough investors behind it. Michael Saylor has come out against it, with many industry leaders also openly opposing it or staying out of the matter entirely.
In fact, during the Bitcoin Cash fork, the limits of retail Bitcoin nodes were clearly understood. A Bitcoin node run by an exchange is orders of magnitude more influential than that of a retail user, as it introduces large amounts of new transactions to the Bitcoin network. The Bitcoin node of a major mining pool is far more influential than that of a hobbyist solo miner, as it more often assembles blocks and chooses which transactions settle to the blockchain.
Most Bitcoiners outside of exchanges use mobile wallets to access their Bitcoin. Such users and investors can ‘vote’ with their money, so to speak, by moving their bitcoins and economic activity elsewhere, be it to a wallet that supports their vision of Bitcoin, or their own full node. But while users remain on mobile wallets that talk to third-party nodes, those users have little individual influence over Bitcoin consensus. And the vast majority of mobile wallets are using a Bitcoin core-compatible back end.
The same goes for exchanges; their users effectively delegate consensus decisions to the exchange operators. In some cases, exchanges have put consensus issues to a user vote, weighed by their total holdings, returning that decision to end users weighed by capital; we may see this happen again with BIP-110.
Votes of the sort have started happening with Foundry today. One of the biggest Bitcoin mining pools in the world, Foundry, recently emailed its miners informing them that they can vote on the proposal with their hashrate. A high enough support could result in Foundry signaling for BIP-110, though that remains unlikely. Users who do not vote will effectively signal against BIP-110, defending the status quo. Thus apathy about the topic of BIP-110 would be a win for Bitcoin Core by default. BIP-110 supporters need to culturally win over a majority of the Foundry hash rate, who then must act to vote against the Bitcoin Core developer consensus, the most popular Bitcoin implementation and best supported codebase.
Today, miners are not signaling support for BIP-110 in any significant way. In fact, according to some data, this is one of the least supported soft fork attempts by miner signaling in Bitcoin’s history. Less than one percent of the blocks mined in the current difficulty adjustment period are signaling for BIP110.
Concluding Thoughts BIP-110 has so far failed to gain consensus across major interest groups within Bitcoin; neither developers, investors, miners, nor large economic nodes support the consensus change. The result is likely to be a chain split in the coming weeks, which could have significant consequences for lightning wallets running on BIP-110-compliant nodes, ultimately resulting in a new, yet small blockchain that would probably have to change the proof-of-work used to stay alive.
Jack Dorsey, the billionaire technology entrepreneur and co-founder of Block, has introduced a new group chat platform called Buzz, aiming to provide an open-source and decentralized alternative to existing workspace tools such as Slack.
Buzz: A Decentralized Workspace SolutionDorsey described Buzz as a platform designed “for teams of people and agents of all sizes,” highlighting its model-agnostic, decentralized, self-sovereign, and open-source features. The tool is structured to enable users to chat with teammates and specialized agents within a single digital workspace. From there, users can move between messaging, planning, project management, coding, and pull requests without leaving the app.
Buzz is built for teams of any size, offering a familiar interface for those who have used modern team communication tools, while prioritizing openness and decentralized architecture.
The parent company Block, previously known as Square, stated that Buzz is built on the Nostr protocol, a decentralized social networking infrastructure designed to provide censorship-resistant communications.
Mini dictionary: Nostr protocol, an open protocol that enables decentralized and censorship-resistant social media platforms by allowing users to communicate without relying on central servers.
Commitment to Open and Transparent ToolsBradley Axen, head of AI capabilities at Block, emphasized the company’s direction, noting that every organization will eventually need a space where humans and AI agents work together. He pointed out the critical difference between proprietary and open systems, stressing that Block built Buzz to ensure that such collaborative spaces can remain open to all.
Block believes the answer to whether future workplaces are proprietary or open lies in open platforms, leading to Buzz’s development as a fully open-source solution.
Dorsey’s Vision for Decentralized Finance and TechnologyJack Dorsey, who previously founded Twitter, has consistently advocated for decentralized solutions in the tech industry. Following his departure from Twitter in 2021, Dorsey shifted his focus to expanding Bitcoin adoption and transforming payment technologies through Block and its subsidiary companies Square and Cash App.
Cash App allows users to send, receive, buy, and sell Bitcoin, while Square’s point-of-sale terminals have integrated Bitcoin payments via the Lightning Network, a layer two solution optimizing Bitcoin transactions.
Dorsey has also expressed admiration for the foundational principles of Bitcoin, characterizing Satoshi Nakamoto’s white paper as “poetry” and promoting the idea of Bitcoin as a universal currency for everyday use.
Further reflecting this vision, Block in 2023 launched a Bitcoin mining rig with modular, swappable components, aiming to help miners reduce repair and replacement costs by upgrading only specific parts instead of full units.
These efforts reflect Dorsey’s broader strategy to accelerate adoption of decentralized technologies, reduce dependency on centralized services, and empower individuals and teams with open-source alternatives across various domains.
PlatformOwnershipSource ModelFocusBuzzBlock (Jack Dorsey)Open-sourceDecentralized chat & agent collaborationSlackSalesforceProprietaryTeam communicationDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Glassnode reported improving derivatives activity despite muted spot trading in the Bitcoin market.
Speculative activity in the Bitcoin market is showing signs of recovery even as spot market participation remains subdued, according to Glassnode’s latest findings.
The analytics firm said spot trading activity continues to lack conviction, as Spot Volume fell below the lower statistical band of $4.5 billion, which was indicative of persistently weak liquidity and muted investor participation. Such low trading volumes typically accompany periods of consolidation, where markets struggle to build enough momentum for a decisive breakout.
At the same time, Spot Cumulative Volume Delta (CVD) showed that aggressive taker selling has eased compared to the previous week. Although the metric remains in negative territory, the narrowing deficit signals that sellers are becoming less aggressive. The reading is now sitting comfortably within its statistical range as traders reassess their market direction.
While spot markets remain quiet, derivatives data points to a gradual return of speculative appetite.
Derivatives Activity Picks Up Futures Open Interest, for one, has climbed to $32 billion. Glassnode said the steady increase indicates traders are gradually re-establishing leveraged positions, which has led to higher participation across the futures market.
Long-Side Funding Payments, however, have declined to $1.7 million and are now close to the upper statistical threshold. According to the report, this suggests bullish positioning is still dominant, but traders are paying a smaller premium to maintain long positions. This means that aggressive bullish conviction has moderated compared to recent sessions.
Meanwhile, Perpetual CVD has recovered sharply and has reversed from a net selling bias to a positive $123.2 million. The move into positive territory points to a shift in taker behavior, as aggressive buyers are now exerting greater influence on price action than sellers.
You may also like: Crude Oil Spikes Above $91: What It Means for Bitcoin (BTC) Bitcoin Just Triggered Three Rare Signals That Previously Marked Market Bottoms Bitcoin Has Exited Capitulation Regime as Momentum Rebuilds: Analysts Options Positioning Shifts Activity in the options market has also strengthened. Options Open Interest rose to $30 billion, as capital committed to derivatives positions increased, although the figure remains slightly below the lower statistical band of $30.3 billion. Glassnode said the trend suggests traders are actively opening new positions. This potentially raises the chances of volatility around major options strike prices.
Simultaneously, the Volatility Spread has narrowed sharply and now sits comfortably within its statistical range, which indicates that implied volatility has largely aligned with realized market movements and that options traders are demanding a smaller risk premium.
This trend was also evident in the Options 25-Delta Skew, which has retreated significantly amidst weaker demand for protective put options and a moderation in bearish hedging activity as sentiment becomes more neutral.
As Bitcoin [BTC] shows relative strength, some long-term holders are starting to make moves. In fact, one whale has captured market attention after shifting away from accumulation.
Onchain Lens reported that a whale who has been aggressively accumulating Bitcoin over the past six years finally moved his assets. According to the on-chain monitor, $130.5 million worth of Bitcoin was transferred.
Source: Arkham The associated wallet moved 800 BTC worth $52.2 million to Cumberland for OTC. At the same time, the wallet moved 1200 BTC worth $78.3 million to new addresses.
The whale’s decision to move some holdings to Cumberland signaled the intention to sell. While OTC hardly directly affects the market supply, it could significantly affect market sentiment. However, the transfer of the large amount to a new address suggested the whale is not fully exiting but repositioning.
Any impact on BTC? Usually, a major transfer from long-term holders is closely watched by market players. Despite the attention, it seems the transfer had no negative impact on Bitcoin’s price action.
On the contrary, BTC has continued with its bullish streak, rising to a monthly high of $66,314 before a slight pullback. At press time, Bitcoin was trading around $66,195, after rising by 3.02% on the daily charts.
Source: TradingView With BTC holding within an uptrend since $62k a day ago, the momentum has strengthened extensively. The Stochastic Momentum Index (SMI) hiked to 67 after forming a bullish crossover two days ago.
At these levels, the current trend is relatively strong. Furthermore, the Squeeze Momentum Indicator has held and remained positive over the past week, reflecting strengthening momentum.
Often, when these indicators move in such a manner, the prevailing trend is likely to continue. If the momentum holds, Bitcoin will flip $67k and target a move above $70k.
Does Bitcoin still face rising pressure? Although the whale transfers have had little to no impact on Bitcoin, the upward trajectory has incentivized profit takers to return.
For starters, the Bitcoin Fund Flow Ratio has been on the rise over the past week, climbing to a high of $0.06 at press time.
Source: CryptoQuant A rising Fund Flow Ratio suggests more coins have recently flowed into exchanges. Higher exchange flows increase the risk of short-term bearishness. This trend was further confirmed as Exchange Netflow turned positive, rising to 4.7K.
Source: CryptoQuant A positive Netflow suggests more BTC has recently flowed into exchanges. Historically, increased exchange inflows have preceded a weakened market structure.
Therefore, if sellers continue to offload, the pressure could weaken momentum and likely push it to $64,800.
Final Summary A Bitcoin whale moved 2,000 BTC worth $130.5 million, moving 800 BTC to Cumberland OTC and 1,200 to fresh addresses. Rising Fund Flow Ratio and positive Netflow signal growing exchange inflows, raising short‑term bearish risk for Bitcoin.
Bitcoin (BTC) whales (accounts holding between 1,000 and 10,000 BTC) have been consistently accumulating the cryptocurrency since late May. This period of accumulation began in early May, when prices were around $80,000, and has continued even as prices declined 17.25% to a current $66,256.
Whales load up on Bitcoin despite market swings Unlike previous months, the period since May shows unprecedented, continuous accumulation despite geopolitical and macroeconomic headwinds. In the last month alone, this cohort has accumulated 48,000 Bitcoins. This brings their total stash to 3.09 million Bitcoins, similar to the amount they held in February of this year.
Source: Crypto Quant
These whales likely represent institutions that thrive on Dollar-Cost Averaging (DCA) rather than timing markets for ripe entry levels.
Even then, these whales are likely anticipating a major market turnaround following recent developments in global crypto regulation and technical setups.
US President Donald Trump recently signed an ethics package barring him and any other high-ranking officials from profiting off the crypto policies they shape. Despite this development, nations such as Japan and Russia are way ahead of America in terms of crypto regulation. This builds pressure for swift policy legalization, seeing as the US aims to lead the crypto industry on a global scale.
Technical setupsOn-chain metrics such as MVRV (Market Value to Realized Value) and CVDD (Cumulative Value-Days Destroyed) suggest a potential cycle bottom between $40,000 and $50,000.
However, one technical trifecta indicates we may have arrived at a historically dominant accumulation zone.
Source: Ali Charts
The monthly Relative Strength Index (RSI) is below 43.65, the Chande Momentum Oscillator is at -71, and BTC is actively trading around its 50-month moving average. The combination of these offers a highly favorable risk-to-reward ratio, driving whale attention away from shorting and into accumulation.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The Digital Chamber has filed a lawsuit against Illinois’ Digital Asset Tax Act, aiming to halt the law before its scheduled implementation on January 1, 2027. The act imposes a 0.2% tax on digital asset business activities, marking the first state tax of its kind in the U.S. The Chamber’s complaint argues that the law unfairly singles out blockchain transactions for different tax treatment compared to traditional financial transactions. This legal action places Illinois’ crypto tax regime under broader regulatory scrutiny and highlights the ongoing debate over state-level digital asset taxation.
Advertisement
The lawsuit could have implications for the cryptocurrency market, particularly Bitcoin, as it suggests potential regulatory pushback against state-level crypto taxes. Markets are assessing this legal challenge’s impact on Bitcoin’s future price, with some indicating it could positively influence Bitcoin’s market perception. Current market data shows a range of probabilities for Bitcoin reaching various price points by the end of 2026, reflecting the uncertainty surrounding regulatory developments.
Key Takeaways The Digital Chamber’s lawsuit against Illinois’ Digital Asset Tax Act suggests potential regulatory challenges for state-level crypto taxation. Market pricing indicates that participants view the lawsuit as consistent with scenarios where Bitcoin’s market perception could be positively affected. Bitcoin markets currently show varied probabilities for reaching certain price targets by December 31, 2026, reflecting uncertainty in regulatory outcomes. What to Watch The outcome of the Digital Chamber’s lawsuit against Illinois will be a key indicator of how state-level crypto taxes may evolve. Markets will be closely monitoring any developments in this legal case, as its resolution could significantly impact market perceptions and pricing scenarios. Additionally, ongoing regulatory discussions at both state and federal levels could further influence Bitcoin’s path to reaching significant price milestones by the end of 2026.
Get live prediction-market analysis, powered by Vera. Sign up for Vera.
Term Structure
Contract Odds Δ since publish Volume 24h December 31 2.1% — — View market → December 31 2.2% — — View market → December 31 2.8% — — View market → December 31 3.2% — — View market → December 31 6% — — View market → January 1 2027 11% — — View market → January 1 2027 20.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 2.4% — — View market → January 1 2027 2.2% — — View market → January 1 2027 3.7% — — View market → January 1 2027 4% — — View market → January 1 2027 7% — — View market → January 1 2027 45.5% — — View market → January 1 2027 10.5% — — View market → January 1 2027 1.4% — — View market → January 1 2027 2.1% — — View market → January 1 2027 31.5% — — View market → January 1 2027 15.5% — — View market → January 1 2027 8.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.4% — — View market → January 1 2027 0.9% — — View market → January 1 2027 13.5% — — View market → January 1 2027 24.5% — — View market → January 1 2027 35.5% — — View market → January 1 2027 61.5% — — View market → January 1 2027 80.5% — — View market →
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin’s miner-linked over-the-counter [OTC] balances continue shrinking. That means – fewer coins remain available for large private transactions.
Since November 2021, holdings have dropped from 500,000 BTC to 139,700 BTC, a decline of nearly 72%. Miners drew down their inventory over time without meaningfully rebuilding it after the 2024 halving.
Source: CryptoQuant As a result, OTC supply tightened while miner-to-exchange flows declined. Naturally, it suggested lower visible selling pressure on Bitcoin.
Meanwhile, Bitcoin’s [BTC] price has advanced despite declining OTC inventories, highlighting stronger demand against a shrinking pool of available supply. Yet, if institutions and whales continue accumulating under these conditions, tighter liquidity could amplify Bitcoin’s upside sensitivity in the coming quarters.
Bitcoin supply tightens beyond miner OTC desks The tightening supply picture extends beyond miner-linked OTC desks and is now visible across centralized exchanges.
On the 20th of July, Bitcoin recorded $686 million in Exchange Netflows. By the way, Binance led with $570 million in net outflows, marking its largest withdrawal since April.
Source: CryptoQuant Furthermore, Bybit contributed $65 million, Coinbase another $48 million, and HTX nearly $3 million.
Ultimately, it meant there were coordinated withdrawals rather than isolated activity. As more BTC leaves exchange wallets, the pool of coins readily available for spot-market selling continues to shrink.
This trend complements declining OTC inventories, reinforcing a tighter market structure. If demand continues strengthening, reduced exchange liquidity could amplify Bitcoin’s upside sensitivity in the months ahead.
Are long-term holders selling? Even as Bitcoin rebounded from recent lows, long-term holders showed little interest in distributing older coins into the market. The trend of Coin Days Destroyed (CDD), which measures the number of days old coins are sold into circulation, remains flat at 16.4 million.
Source: CryptoQuant Those brief increases failed to develop into sustained selling, suggesting most dormant holdings remained untouched despite changing market conditions. Therefore, it is likely that most of the older coins continue to remain unliquidated regardless of changes in the markets.
As older coins stay inactive, the burden of driving price discovery shifts toward fresh spot demand instead of recycled supply.
Thus, the next price movement for Bitcoin could potentially be driven by whether or not sufficient capital is available in the market. That demand must absorb the majority of the coins remaining within the increasingly smaller tradable float.
Final Summary Bitcoin [BTC] tradable supply continues shrinking as sell-side liquidity remains constrained. Bitcoin needs stronger spot demand to unlock its tightening supply advantage.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
In brief Shareholders voted by more than 90% to sell the company's 668 BTC, return capital, and cancel its London Stock Exchange listing This marks the end of a Bitcoin treasury experiment in under twelve months. Satsuma raised £163.6 million in August 2025 but expects to return only £26.8 to £30 million after wind-down costs. The shareholders of Satsuma Technology, a U.K.-based Bitcoin treasury company, have voted to liquidate the company's entire Bitcoin position and shut down the business, overruling four of its six board members.
More than 90% of votes cast backed the dual resolutions to sell 668 BTC—worth roughly $43.5 million—and cancel the company's London Stock Exchange listing, per a Monday filing. The move unwinds the digital asset treasury, or DAT for short—the latest such company to call it a day after the DAT trend picked up steam in 2025.
Satsuma started life as TAO Alpha, a small AI firm, before rebranding and hiring Mark Moss in August 2025 as its Chief Bitcoin Strategist. Moss is an American Bitcoin commentator with over 700,000 YouTube subscribers known for advising institutions on how to buy and hold Bitcoin as a corporate treasury asset—essentially, a company's rainy-day fund, but in crypto.
The same month, Satsuma raised £163.6 million ($218 million) through convertible notes—debt instruments investors can either reclaim as cash or convert into company shares—led by ParaFi Capital, with Pantera Capital, Digital Currency Group, and Kraken joining in. Investors contributed 1,097 BTC directly in place of roughly $97 million in cash.
The stock peaked around £14 per share, roughly £66 million in market cap, in June 2025. Bitcoin then hit its $126,000 all-time high in October before entering a months-long slide in what became the current crypto winter, dragging the rest of the market—including Satsuma’s stock—with it.
By December, Satsuma was already selling assets to stay solvent: 579 BTC went for £40 million to ensure it had enough cash to repay noteholders who chose not to convert their debt into shares by year-end.
The unravelingThe company’s CFO departed in February 2026; the CEO followed in March. By April, shares had lost more than 99% of their June 2025 value—trading at fractions of a penny—and Pantera Capital, holding about 6.7% of Satsuma's stock, began pushing publicly for full liquidation.
The logic was direct: Satsuma's market cap—the total combined dollar value of all its shares—had fallen well below the value of the Bitcoin sitting on its own balance sheet, the point where owning the stock is strictly worse than owning the coin directly. A group of shareholders representing more than 20% of issued capital formally put the resolution to a vote.
The board split hard. Four of six directors opposed the liquidation, arguing Satsuma was still a viable listed Bitcoin vehicle. Two sided with shareholders pushing to wind down. Shareholders overruled the board majority by a wide margin.
The wind-down runs through a "B Share Scheme," a U.K. legal mechanism for distributing cash assets back to shareholders. Satsuma expects to return between £26.8 million and £30 million after estimated termination costs of £2.7 million—legal fees, severance, delisting charges, and run-off insurance.
Combined with the £40 million from the December BTC sale, total capital recovered lands around £66–£70 million against the £163.6 million originally raised. And because convertible note holders rank above common equity in any payout structure—meaning they get paid first—ordinary shareholders could walk away with considerably less than even those numbers suggest.
Satsuma is currently the second-largest U.K.-listed Bitcoin treasury company by holdings. The first is The Smarter Web Company, which holds 2,878 BTC and has not suggested it’s winding down.
U.K. High Court hearings to approve the capital return are set for August and September 2026. The delisting is expected mid-September, with shareholder payments due by late September.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Shareholders voted by more than 90% to sell the company's 668 BTC, return capital, and cancel its London Stock Exchange listing This marks the end of a Bitcoin treasury experiment in under twelve months. Satsuma raised £163.6 million in August 2025 but expects to return only £26.8 to £30 million after wind-down costs. The shareholders of Satsuma Technology, a U.K.-based Bitcoin treasury company, have voted to liquidate the company's entire Bitcoin position and shut down the business, overruling four of its six board members.
More than 90% of votes cast backed the dual resolutions to sell 668 BTC—worth roughly $43.5 million—and cancel the company's London Stock Exchange listing, per a Monday filing. The move unwinds the digital asset treasury, or DAT for short—the latest such company to call it a day after the DAT trend picked up steam in 2025.
Satsuma started life as TAO Alpha, a small AI firm, before rebranding and hiring Mark Moss in August 2025 as its Chief Bitcoin Strategist. Moss is an American Bitcoin commentator with over 700,000 YouTube subscribers known for advising institutions on how to buy and hold Bitcoin as a corporate treasury asset—essentially, a company's rainy-day fund, but in crypto.
The same month, Satsuma raised £163.6 million ($218 million) through convertible notes—debt instruments investors can either reclaim as cash or convert into company shares—led by ParaFi Capital, with Pantera Capital, Digital Currency Group, and Kraken joining in. Investors contributed 1,097 BTC directly in place of roughly $97 million in cash.
The stock peaked around £14 per share, roughly £66 million in market cap, in June 2025. Bitcoin then hit its $126,000 all-time high in October before entering a months-long slide in what became the current crypto winter, dragging the rest of the market—including Satsuma’s stock—with it.
By December, Satsuma was already selling assets to stay solvent: 579 BTC went for £40 million to ensure it had enough cash to repay noteholders who chose not to convert their debt into shares by year-end.
The unravelingThe company’s CFO departed in February 2026; the CEO followed in March. By April, shares had lost more than 99% of their June 2025 value—trading at fractions of a penny—and Pantera Capital, holding about 6.7% of Satsuma's stock, began pushing publicly for full liquidation.
The logic was direct: Satsuma's market cap—the total combined dollar value of all its shares—had fallen well below the value of the Bitcoin sitting on its own balance sheet, the point where owning the stock is strictly worse than owning the coin directly. A group of shareholders representing more than 20% of issued capital formally put the resolution to a vote.
The board split hard. Four of six directors opposed the liquidation, arguing Satsuma was still a viable listed Bitcoin vehicle. Two sided with shareholders pushing to wind down. Shareholders overruled the board majority by a wide margin.
The wind-down runs through a "B Share Scheme," a U.K. legal mechanism for distributing cash assets back to shareholders. Satsuma expects to return between £26.8 million and £30 million after estimated termination costs of £2.7 million—legal fees, severance, delisting charges, and run-off insurance.
Combined with the £40 million from the December BTC sale, total capital recovered lands around £66–£70 million against the £163.6 million originally raised. And because convertible note holders rank above common equity in any payout structure—meaning they get paid first—ordinary shareholders could walk away with considerably less than even those numbers suggest.
Satsuma is currently the second-largest U.K.-listed Bitcoin treasury company by holdings. The first is The Smarter Web Company, which holds 2,878 BTC and has not suggested it’s winding down.
U.K. High Court hearings to approve the capital return are set for August and September 2026. The delisting is expected mid-September, with shareholder payments due by late September.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Satsuma Technology shareholders have voted overwhelmingly to liquidate the company’s remaining Bitcoin holdings and steps to dissolve the business, marking a decisive end to the short-lived experiment of running a listed Bitcoin treasury on the London Stock Exchange.
More than 90% of votes cast at a recent meeting favored two key measures: selling all 668 BTC—currently valued at about $43.5 million—and canceling Satsuma’s listing on the London Stock Exchange. The decision passed despite opposition from a majority of the board, with four directors arguing that Satsuma could still serve as a viable publicly-traded Bitcoin investment vehicle.
Satsuma, based in the U.K., joins a wave of digital asset treasury (DAT) companies that have opted to wind down operations after a surge in the DAT trend earlier in 2025. The move comes as Satsuma’s stock performance and Bitcoin holdings diverged throughout the second half of the year, sharply reducing shareholder value.
Satsuma’s market capitalization fell far below the value of its Bitcoin assets on hand, creating a scenario where holding company shares appeared less attractive than owning BTC directly.
Origins and FundingThe company originally operated as TAO Alpha, a small artificial intelligence firm, before rebranding and recruiting Mark Moss as Chief Bitcoin Strategist in August 2025. Moss, an American Bitcoin advocate with over 700,000 YouTube followers, is recognized for guiding institutions interested in acquiring and managing Bitcoin as corporate treasury assets.
That same month, Satsuma secured £163.6 million ($218 million) through a convertible note offering led by ParaFi Capital and joined by Pantera Capital, Digital Currency Group, and Kraken. Notably, investors contributed 1,097 BTC in lieu of approximately $97 million in cash, reflecting strong enthusiasm for the Bitcoin treasury model at the time.
The stock climbed to a high of around £14 per share in June 2025, giving Satsuma a market capitalization near £66 million. However, as Bitcoin reached a record price of $126,000 in October 2025 before declining, Satsuma’s shares and broader crypto markets entered a prolonged downturn.
Mini dictionary: Convertible note – A form of short-term debt that can convert into equity, typically in connection with a future financing round. Investors can reclaim their money as cash or choose to become shareholders.
By December 2025, Satsuma was forced to sell 579 BTC for £40 million to meet its obligations to noteholders opting for repayment rather than equity conversion.
EventBTC SoldCash Raised (£)Shares ValueConvertible Notes Raised1,097 BTCPart of £163.6 millionPeak at £66 millionAsset Sale (Dec 2025)579 BTC£40 millionN/AFinal Liquidation668 BTCEstimated £26.8–£30 million after costsNear zero (shares plummeted)Market Rout and Leadership DeparturesThroughout early 2026, Satsuma’s financial and leadership stability deteriorated. The company’s CFO left in February, and the CEO resigned the following month. By April, Satsuma shares had lost over 99% of their June 2025 value and were trading at fractions of a penny. Pantera Capital, a U.S.-based investment firm that owns about 6.7% of the company, called publicly for a total wind-down, citing the discrepancy between the company’s Bitcoin assets and its market capitalization.
A shareholder group representing over 20% of issued capital initiated a formal vote for liquidation. The board split 4-2, with most directors pushing to continue operations, but the shareholder majority prevailed decisively.
Settlement and Remaining UK Bitcoin TreasuriesSatsuma will conduct the payout using a “B Share Scheme,” a UK legal framework used to distribute cash assets to shareholders. The company expects to return between £26.8 million and £30 million after deducting around £2.7 million in wind-down fees, including legal services, severance pay, delisting expenses, and insurance.
In total, Satsuma’s combined capital returns—including the December Bitcoin sale—amount to an estimated £66–£70 million, a significant shortfall compared to the £163.6 million originally raised. Since convertible note holders receive priority in the payout process, ordinary shareholders are likely to recover less than the final post-liquidation cash figure.
Satsuma ranks as the second-largest listed Bitcoin treasury company in the United Kingdom by holdings. The top position is held by The Smarter Web Company, which retains 2,878 BTC and has not publicly considered a wind-down.
Approval for Satsuma’s capital return plan now goes to U.K. High Court hearings scheduled for August and September 2026. The company is expected to delist from the LSE in mid-September, with shareholder payments following later that month.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ethereum Improvement Proposal (EIP) 8222 is set to adopt a STARK-based cryptographic scheme to enhance on-chain privacy for institutional stakers.
EIP-8222, an Ethereum Improvement Proposal, proposes to adopt a STARK-based cryptographic scheme to weaken the traceable correlation between staking deposit addresses, validators, and withdrawal credentials, with the goal of enhancing on-chain privacy for institutional stakers. Digital asset bank Sygnum Bank stated that this move could help attract more institutions to participate in staking, though it may also result in higher execution costs, slower asset operation processes, and additional compliance and audit requirements. The proposal remains in the discussion stage, and no launch timeline has been confirmed.
2 minutes ago
A crypto whale has placed a limit order for BTC, planning to go long with an intended entry price of around $66,000.
According to OnchainLens monitoring, a crypto whale deposited $3.71 million worth of USDC into Hyperliquid and placed a long limit order for BTC worth $2.68 million. The whale plans to go long on 40.58 BTC at a price range of $65,945 to $66,214. Current positions: 14x long positions on CL (US Oil), with a profit of $752,400; 11x long positions on BRENTOIL (Brent Oil), generating a profit of $361,700.
2 minutes ago
Ark Invest purchased 16,665 shares of Securitize on Tuesday, worth approximately $125,700.
According to market data from BIT (bit.com), Ark Invest, the firm led by Cathie Wood, purchased 16,665 shares of Securitize (ticker: SECZ), BlackRock’s real-world asset (RWA) platform, on Tuesday, for a total value of approximately $125,700. SECZ gained 13.9% that day, closing at $7.54.
2 minutes ago
Trump endorses crypto ethics bill: Prohibits federal officials from issuing cryptocurrencies, with the U.S. Department of Justice serving as the lead enforcement agency.
According to multiple sources familiar with the matter, the crypto ethics provision signed by Trump will bar federal officials—including members of Congress, the president, and vice president—from issuing digital assets, and designate the U.S. Department of Justice (DOJ) as the primary enforcement authority for the provision, rather than state attorneys general. This arrangement could become a new point of contention in advancing the CLARITY Act, as Democrats have long argued that states should retain certain enforcement powers. Maryland Democratic Senator Angela Alsobrooks, one of the lead negotiators for the bill, issued a statement earlier Tuesday: “The DOJ enforcing ethics provisions? This is not a serious proposal. If the language stays this way, I will not support the bill.” Her concerns over enforcement powers specifically target Trump’s personal meme coin and his family’s firm, World Liberty Financial. The ethics provision has been the final sticking point for the CLARITY Act after months of legislative hurdles. Patrick Witt, a senior White House advisor for crypto affairs, revealed the details of the ethics language during an industry call on Tuesday afternoon. The White House has not confirmed the exact text, but an official attributed the potential impasse to Democrats in an email: “If Senate Democrats block this historic legislation after the administration has gone to great lengths to accommodate their concerns, industry players should recognize that it is Democrats holding up the bill, as they have never taken legislative outcomes seriously.” Currently, both sides continue negotiations based on the current draft, and it remains unclear whether an agreement can be reached before the Senate adjourns.
2 minutes ago
A crypto whale closed out a $35 million long position in MU, booking a profit of $1.71 million.
According to EmberCN's monitoring, a whale went long on Micron Technology worth $35 million yesterday, and closed the position six hours ago, locking in a profit of $1.71 million. The entry price was $918, and the exit price stood at $964.
According to market data from BIT (bit.com), U.S. space stock Rocket Lab (RKLB) closed up 5.14% and gained over 7% in after-hours trading. The company has secured a $266 million contract from the U.S. Air Force to launch 12 suborbital vehicles, with an optional additional 6 launches. The missions will be conducted in Alaska and are scheduled for completion by the end of 2028. Separately, SpaceX rose more than 3%, ending its 7-day consecutive losing streak, and added another 1.3% in after-hours trading. SpaceX will release its Q2 2026 earnings report and hold a live earnings webcast on August 4, with the market currently focused on Starship’s next test flight.
Okta (OKTA - Free Report) ended the recent trading session at $141.71, demonstrating a -4.51% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.89%. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, added 1.29%.
Shares of the cloud identity management company have appreciated by 28.01% over the course of the past month, outperforming the Computer and Technology sector's loss of 6.6%, and the S&P 500's loss of 0.63%.
The investment community will be paying close attention to the earnings performance of Okta in its upcoming release. The company's upcoming EPS is projected at $0.96, signifying a 5.49% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $792.14 million, up 8.81% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.83 per share and a revenue of $3.2 billion, signifying shifts of +9.43% and +9.51%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Okta. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% upward. Okta currently has a Zacks Rank of #2 (Buy).
Looking at valuation, Okta is presently trading at a Forward P/E ratio of 38.75. This indicates a discount in contrast to its industry's Forward P/E of 50.85.
We can also see that OKTA currently has a PEG ratio of 2.44. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Security was holding an average PEG ratio of 3.24 at yesterday's closing price.
The Security industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 40, placing it within the top 17% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
