Market Signal Briefing

A federal judge in New York dismissed fraud claims against Uniswap for the second time this month, and the decision carries implications far beyond the cryptocurrency industry.

At stake: whether platforms that provide neutral infrastructure can be held liable when bad actors exploit those tools to commit fraud.

Judge Katherine Polk Failla's ruling applies a principle that translates cleanly across technology sectors: you don't sue the New York Stock Exchange for selling you fraudulent stock.

The same logic, she argues, applies to decentralized exchange protocols.

However, as scams proliferate across digital platforms, courts are being forced to decide who should serve as the de facto insurer for internet-scale fraud. The FBI reported over $6.5 billion in losses from cryptocurrency investment fraud in 2024 alone.

Bar chart comparing cryptocurrency fraud losses shows $6.5 billion in 2024 FBI-reported investment fraud versus $17 billion in 2025 Chainalysis-estimated scams and fraud.The theory plaintiffs keep testingThe case began when investors who lost money on tokens traded through Uniswap's interface attempted to shift liability from the scammers who issued worthless assets to the developers who built the trading rails.

Their legal strategy: frame the provision of market infrastructure as “aiding and abetting” fraud.

Failla rejected this approach in August 2023, writing that plaintiffs “are looking for a scapegoat” because “the defendants they truly seek are unidentifiable.”

The Second Circuit affirmed dismissal of federal securities claims in February 2025, stating it “defies logic” to hold smart contract developers liable for “a third-party user's misuse of the platform.”

Undeterred, plaintiffs filed a second amended complaint in May 2025, pivoting to state-law theories.

Timeline chart shows Uniswap fraud case progression from August 2023 dismissal through February 2025 appellate affirmation to March 2026 state-law dismissal with prejudice.They alleged that “in excess of 98%” of tokens traded through the interface were scams and claimed Uniswap collected over $100 million in fees from fraudulent activity.

This month, Failla also dismissed those claims, reportedly with prejudice. This means that the appeal clock now starts on what could become a controlling precedent.

Drawing the liability boundaryThe legal principle at issue predates cryptocurrency by decades.

Courts evaluating secondary liability for fraud have consistently required two elements: specific knowledge of the wrongdoing and substantial assistance that materially aided the fraud.

Providing general-purpose infrastructure that scammers also happen to use doesn't meet that standard.

The Supreme Court applied similar reasoning in Twitter v. Taamneh, rejecting attempts to hold social media platforms liable for terrorism merely because terrorists used their services.

The question in both contexts: does operating neutral infrastructure that enables both legitimate and illegitimate activity constitute meaningful assistance to wrongdoing, or does it simply make you the most convenient defendant with money?

Failla's opinion confronts this directly. She notes that if anonymity in financial markets is “troublesome enough to merit regulation,” that decision belongs to Congress, not tort litigation.

The judiciary draws lines based on existing law; legislatures write new rules when policy demands change.

Why the stakes extend beyond DeFiThe “make the toolmaker pay” theory surfaces across technology litigation with striking regularity.

App stores face lawsuits over scam applications that slip through review processes. AI companies face liability demands when someone uses a language model to generate phishing emails. Payment processors defend against claims that they enabled fraud by processing transactions.

In each case, plaintiffs confronting uncollectable judgments against actual wrongdoers seek to recharacterize platform operators as perpetrators. The economic logic is straightforward: scammers vanish or have no assets; platforms have balance sheets.

However, treating infrastructure providers as insurers creates its own distortions.

Chainalysis estimates that crypto scams and fraud reached $17 billion in 2025. If courts assigned that liability to access layers rather than to perpetrators, platforms would face a binary choice: price insurance premiums into fees or gate access so aggressively that only pre-vetted activity occurs.

The fee uplift math is unforgiving. Monthly scam losses divided by legitimate volume, plus legal overhead and margin, compound quickly.

In fraud-intensive environments, even low single-digit liability exposure translates to material cost increases or hard curation, exactly the friction decentralized systems were built to eliminate.

The curation problem platforms face nextEven if neutral tools maintain liability protection, curated surfaces present different questions.

Featured token lists, promoted trading pairs, default routing algorithms, and “recommended” swap interfaces all involve editorial judgment.

Plaintiffs will argue that curation implies both knowledge and assistance, the two elements courts require for secondary liability.

This creates pressure for interfaces to either strip curation entirely or add compliance infrastructure. Token allowlists and denylists, pre-trade risk warnings, geographic gating, and enhanced due diligence all carry costs.

Some platforms may determine that operating as genuinely neutral rails, with no recommendations, no featured content, and no algorithmic optimization, provides the cleanest liability posture.

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That defensive retreat has consequences. Users benefit from curation when it surfaces quality over noise. Markets function better with reputation signals and quality filters.

Yet, if providing those features converts a platform from neutral infrastructure to an active participant, rational actors will eliminate them.

Feature / behaviorNeutral infrastructure or curated?Knowledge signalAssistance signalWhy plaintiffs target itLikely defense framingUncurated swap interface / generic routingNeutralLowLowDeep-pocket “rails” defendant; argues access = facilitationGeneral-purpose tool used for lawful + unlawful activity; no specific knowledge; no material assistancePublic warnings / terms-of-service disclosuresNeutralLowLowTries to argue warnings were inadequate or misleadingDisclosures defeat deception/omission theories; information not unique/nonpublic; users assumed riskFeatured token listsCuratedMed–HighMed“You highlighted it” → implied endorsement; curation as participationUI sorting ≠ guarantees; no specific knowledge of fraud; standard informational displayPromoted pairs / paid placementsCuratedHighHighClosest to “substantial assistance” + motive; looks like sponsorshipClear labeling + separation of ads vs listings; no involvement in issuer misreps; compliance controls mitigate“Recommended” swapsCuratedMed–HighMed–HighRecommendation suggests suitability/endorsement; reliance + causation angleRecommendations are algorithmic UX defaults, not advice; disclaimers; no knowledge of specific schemeDefault routing algorithm optimizationsGray zone (lean curated)MedMedPlaintiffs claim routing “steered” them to scam liquidityRouting optimizes execution (price/liq), not token quality; content-neutral; no issuer coordinationAllow/deny lists (token gating)Compliance-heavy (both)MedLow–MedIf you can block, plaintiffs argue you had control/notice dutiesRisk controls reduce harm; lists are prudential safety measures; absence of listing ≠ endorsement; still no specific fraud knowledgeManual token review / “verified” badges (if applicable)CuratedHighHigh“Verification” implies diligence + relianceVerification scope is narrow (e.g., contract match), not investment quality; explicit criteria + disclaimersCustomer support escalation / internal reports handlingNeutral (process)Med–High (post-notice)Low–MedPlaintiffs argue notice = knowledge; failure to act = assistanceTiming matters: notice often after losses; no conscious avoidance; reasonable response policiesFee design tied to specific pairs/tokens (if applicable)Gray zoneMedMedArgues profit motive from fraud + incentive to keep listingsFees are transaction-based and content-neutral; no special relationship with issuers; not tied to misrepresentationsWhat courts are and aren't decidingFailla's rulings don't establish that platforms can indefinitely ignore fraud.

They establish that generalized awareness of bad actors using a system, rather than specific knowledge of particular scams as they occur.

They distinguish between operating lawful infrastructure that scammers also access and materially assisting specific fraudulent schemes.

The distinction matters because it preserves the ability to build general-purpose tools without underwriting every possible misuse. Hammers get used in construction and break-ins, and courts don't assign liability to hardware stores.

The question is whether digital infrastructure deserves the same treatment or whether internet-scale fraud creates policy problems that require internet-scale solutions.

Plaintiffs' lawyers will almost certainly appeal. If the Second Circuit affirms, the precedent hardens. Interface developers, wallet providers, and middleware infrastructure gain a clearer safe harbor.

Investment flows toward permissionless systems with reduced tail risk.

If the Circuit reverses or if legislators decide victims need solvent defendants regardless of what tort law says, the compliance burden shifts. Platforms adopt know-your-transaction regimes. Costs rise. Innovation migrates to jurisdictions with more predictable rules.

Who decides what happens nextThe immediate procedural reality is that federal civil appeals must generally be filed within 30 days of the entry of judgment.

That creates a near-term catalyst for whether this becomes binding law or returns for another round of litigation.

The larger policy question extends beyond any single case. Failla explicitly flagged this in her original opinion: if lawmakers want different rules about anonymity and platform liability in financial markets, that's a legislative decision.

Courts apply existing standards, while Congress writes new ones.

The current standard, knowledge plus substantial assistance, sets a high bar for plaintiffs seeking to relabel infrastructure as a perpetrator. It protects toolmakers who build neutral systems that enable both legitimate commerce and fraud. It forces victims to pursue actual wrongdoers rather than convenient corporate defendants.

Whether that standard remains adequate as scams industrialize and professionalize is the question Failla declined to answer.

Federal judges interpret the law as written. If the law should change because fraud has scaled beyond what existing liability frameworks anticipated, that's a call for elected officials who write statutes, not appointed judges who apply them.

The decision matters because it determines who bears internet-scale fraud losses in an era when those losses are measured in billions annually.

Scammers vanish. Victims demand recovery. Platforms provide the most visible target. Courts now repeatedly say that visibility doesn't equal liability, but the economic pressure to find someone who pays doesn't disappear just because judges draw clear lines.

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BNB price is trading within a rising wedge formation, a structure that often precedes bearish breakdowns. With price nearing major resistance near $657, a move toward $580 becomes increasingly likely if support fails.

Summary

Rising wedge pattern signals potential bearish breakdown $657 resistance aligns with 0.618 Fibonacci confluence Breakdown targets $583–$580 high timeframe support BNB’s (BNB) recent price action reflects a corrective phase rather than a confirmed bullish expansion. While the asset has been gradually pushing higher, the structure of the advance suggests weakening momentum.

The development of a rising wedge pattern, combined with heavy overhead resistance, places the market at a critical inflection point where downside risk is building.

BNB price key technical points Bearish Pattern: Rising wedge formation nearing apex. Major Resistance: $657 aligns with 0.618 Fibonacci and wedge resistance. Downside Target: Breakdown projects toward $583–$580 support. BNBUSDT (4H) Chart, Source: TradingView BNB is currently compressing within a rising wedge, a pattern characterized by higher highs and higher lows that converge over time. Although price appears to be trending upward, rising wedges are typically considered bearish formations, particularly when they develop after corrective rallies rather than strong impulsive moves.

At present, price is trading near the Value Area High, approaching a major resistance cluster near $657. This level aligns with the 0.618 Fibonacci retracement and overlaps with the upper boundary of the rising wedge. The convergence of these resistance factors creates a technically significant supply zone where sellers may reassert control.

The market is now positioned near the apex of the wedge formation, meaning volatility compression is reaching its limit. In such setups, price often breaks decisively in one direction once liquidity builds sufficiently. Given the bearish characteristics of the structure, the probability slightly favors a downside resolution.

For the pattern to activate, BNB would need to break below the lower boundary of the wedge. This confirmation would require a decisive close beneath the Value Area Low, signaling acceptance at lower prices.

A breakdown accompanied by expanding volume would validate the bearish thesis and increase confidence in a corrective move, even as Binance introduces seven AI-powered agent tools aimed at automating trading, data analysis, and risk management workflows.

Should this scenario unfold, the next high timeframe support sits near $583–$580, which represents the broader range support and prior structural demand. This level becomes the primary downside target in the event of a wedge breakdown.

From a market structure perspective, BNB remains within a corrective environment. Despite recent upward movement, the asset has not yet reclaimed significant high timeframe resistance on a sustained basis. Until the $657 zone is decisively broken and converted into support, upside continuation remains uncertain.

Volume dynamics also warrant attention. Breakouts from wedge patterns typically require increased participation to confirm direction. A surge in selling volume during a breakdown would reinforce the bearish case, while strong bullish volume pushing above $657 would invalidate it.

The technical setup currently leans bearish, with downside risk emerging should lower support fail, even as Senator Richard Blumenthal has opened a Senate inquiry into Binance over reports it processed $1.7 billion in transactions tied to sanctioned entities, adding regulatory uncertainty to the broader landscape.

What to expect in the coming price action BNB remains vulnerable while trading within the rising wedge and below $657 resistance. A confirmed breakdown below the Value Area Low would activate the pattern and project a move toward $580 support.

Conversely, a strong breakout above resistance with volume expansion would negate the bearish setup and shift momentum back to the upside.

TL;DR:

Ripple expands its payments platform to integrate fiat and digital assets into a licensed, end-to-end system. The company processed over $100 billion in total volume and its stablecoin RLUSD surpassed $1 billion in market capitalization. Citigroup projects global stablecoin supply could reach $3.7 trillion by 2030, a market where Ripple already operates at scale. Ripple announced the expansion of Payments, its comprehensive global payments platform, to unify fiat and digital assets within a single licensed, end-to-end system aimed at fintechs, businesses and financial institutions.

Ripple’s core proposal addresses a structural problem in the sector: most payment providers offer isolated pieces of the process, whether an API, custody or access to a single corridor. The more intermediaries involved in a transaction, the greater the friction, cost and operational issues. Payments unifies collection, custody, conversion and payment functions into a single continuous flow, backed by more than 75 licenses in key markets including New York, the European Union and the Monetary Authority of Singapore.

Two strategic acquisitions have been key to the proposal: Palisade provides the custody infrastructure, wallets and treasury automation, while Rail offers global virtual accounts and collection capabilities. Both extend the payment lifecycle within the platform, reducing reliance on multiple external providers.

The Market Ripple Already Occupies In operational terms, the platform already supports payments in more than 60 markets, operates across 51 real-time payment rails and counts on more than 20 banking partners that ensure network resilience. RLUSD, Ripple’s stablecoin, surpassed $1 billion in market capitalization less than a year after its launch. The total volume processed by Payments exceeds $100 billion, and Rail adds another $10 billion annually.

Among the most illustrative use cases, Corpay uses Ripple’s custody and liquidity solutions to settle positions in Asia-Pacific with RLUSD, eliminating pre-funding requirements. MassPay uses the platform to offer payments in more than 100 countries and has plans to expand into stablecoin-funded payments. Alfred, for its part, relies on Ripple to operate stablecoin-to-fiat flows in the United States, Mexico, Colombia and China.

Citigroup projected that the global stablecoin supply could reach $3.7 trillion by 2030, comparing the current moment to the emergence of ChatGPT in the technology sector.

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Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

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Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.86% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Celestica (CLS - Free Report) Headquartered in Ontario, Canada, Celestica is one of the largest electronics manufacturing services companies in the world, primarily serving original equipment manufacturers, cloud-based and other service providers and enterprises from several industries. The company offers a comprehensive range of manufacturing and supply-chain solutions related to design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, systems integration, logistics, product licensing, after-market repair, return and information technology (IT) asset management and disposition services. Celestica's extensive depth and breadth of offerings support a wide variety of customer requirements, from low-volume, high-complexity custom products to high-volume commodity products.

CLS is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. CLS has a Growth Style Score of B, forecasting year-over-year earnings growth of 46% for the current fiscal year.

Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.62 to $8.83 per share. CLS also boasts an average earnings surprise of +9.1%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, CLS should be on investors' short list.

Key Takeaways Western Union expanded services to Vallarta stores across California and Arizona starting Feb. 28.The move adds money transfers, bill pay and prepaid services, enhancing convenience during grocery visits.Western Union aims to deepen its footprint in CA and AZ via Vallarta's 65-store network. The Western Union Company (WU - Free Report) recently joined forces with Vallarta Supermarkets to make its money transfer services available at every Vallarta location throughout California and Arizona. Customers can visit any Vallarta Supermarkets location beginning Feb. 28 to take advantage of WU services.

In addition to WU’s services, customers can avail retail money orders, bill payment options and prepaid services—providing added convenience and flexible financial solutions all in one place.

The recent move reflects an underlying motive to help customers visiting any of the abovementioned Vallarta locations with enhanced and speedy financial transactions while completing their regular grocery shopping.

Partnership with Vallarta is indicative of Western Union’s sincere efforts to establish a solid footprint across California and Arizona, courtesy of Vallarta’s extensive presence. Vallarta operates 65 stores across California and Arizona as of 2026 and employs more than 9,000 team members.

This latest initiative reflects Western Union’s ongoing efforts to support its global digital expansion strategy, which aims to attract a broader customer base through a wide range of service offerings. By making the Western Union platform available at Vallarta’s targeted locations, customers will benefit from faster and more convenient money transfers, which is expected to drive higher usage of its services. As a result, the move is likely to contribute to continued growth in Western Union’s digital money transfer revenues. Branded Digital business, a part of the company’s Consumer Money Transfer segment, reported 7% year-over-year increase in revenues in the fourth quarter of 2025.

Through strategic partnerships with financial service providers and meaningful investments in technology, Western Union has built a strong and scalable digital platform. The platform’s capabilities have positioned the company as a preferred partner for seamless global money transfers, while also helping advance digital financial services in underserved markets.

Other Companies Engaged in Cross-Border BusinessApart from Western Union, other companies with a strong cross-border business include Mastercard Incorporated (MA - Free Report) , PayPal Holdings, Inc. (PYPL - Free Report) and Visa Inc. (V - Free Report) . 

MA’s cross-border platform, Mastercard Move, empowers banks, non-bank financial institutions and their customers—including direct disbursers—with secure, near-instant money transfer solutions, both within countries and across borders. The suite of solutions covers more than 200 countries and supports 150+ currencies. Cross-border volumes improved 14% on a local currency basis in the fourth quarter of 2025.

PayPal’s global scale, supported by licenses in key regions and its subsidiaries in Luxembourg, the UK and Singapore, allows it to facilitate seamless cross-border payments. Its cross-border transactions typically generate higher revenues and margins than domestic transactions. In the fourth quarter, cross-border total payment volume improved 6% year over year.

Visa’s cross-border platforms are specialized solutions designed to facilitate fast, secure and efficient movement of money across international borders. At the center of this is Visa Direct, a platform that enables near real-time payments to cards, bank accounts and wallets globally. Another platform is Visa B2B Connect, which focuses on business-to-business cross-border payments. Cross-border volumes of V advanced 12% year over year in the first quarter of fiscal 2026.

Rightmove PLC's data defences are stronger than many investors appreciate, according to RBC Capital Markets, as it dived deeper into the property portal's artificial intelligence strategy.

A day after arguing the FTSE 100 company is more likely to benefit from AI than be disrupted by it, the bank hosted a breakfast with Rightmove’s chief data officer, chief executive and chief financial officer focused on its AI strategy.

RBC said it left believing the group’s “data moat was bigger and better than we had previously thought" and that AI is "strengthening not weakening" its proposition.

About 90% of Rightmove’s data is proprietary and not 'scrapeable', the analysts said. While basic listing details can be harvested from the web, they described that as “just the tip of Rightmove’s data iceberg”.

Property search may be the “front door”, but the real value lies in the behavioural signals behind it. Each search reveals buyer and seller intent. Rightmove structures that data to generate insights and new revenue opportunities.

RBC said conversational search is already increasing “dwell times”, meaning users spend longer on the site. That, in turn, creates more data and deeper insight.

The broker maintained its 'outperform' rating and a 765p price target, arguing AI should enhance the value of what it calls an unrivalled UK property dataset rather than undermine it.

March 03, 2026 10:51 ET  | Source: Comstock Inc.

VIRGINIA CITY, Nev., March 03, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Comstock Metals LLC (“Comstock Metals”), a leader in the responsible recycling of end-of-life solar panels with the only certified, North American, zero-landfill solution, announced today that significant portions of the industry-scale facility precision equipment, manufactured on proprietary specifications, has arrived at our Silver Springs, Nevada location for installation, testing and ultimate integration of the 100,000 ton per year solar panel recycling production line. Commissioning will continue through March 2026, and into early April with operations planned during the second quarter of this year.

The manufacture of precision-machined equipment for Comstock Metals’ proprietary solar panel recycling begins with a highly engineered design process focused on durability, accuracy, speed, and maximizing throughput. Each system is modeled using advanced CAD platforms to ensure exact tolerances for shredding, conditioning, and ultimately, critical materials separation and recovery. The shredding systems are currently being assembled.

“Our team is now fully deployed and engaged in every aspect of our facility upgrades, storage build out and the all of the work associated with commissioning our first industry-scale recycling process and we have now received the major front-end components of our proprietary shredding systems,” said Dr. Fortunato Villamagna, President of Comstock Metals. “Installation involves a plurality of activities, from complex tasks like the interconnection of the various unit operations, completing the communication interfaces between the various systems, to things as simple as precision leveling, anchoring to reinforced and epoxied flooring, operational and electrical integration with facility power infrastructure, and calibration of automated control systems. Our design allows us to commission and evaluate each unit operation independently as they are installed, effectively streamlining the process and accelerating the full start-up and eventual ongoing, continuous operations.”

Final receipt and integration of all major components will continue through March and into April when the Company will confirm operational efficiencies, safety compliance, and optimized workflows within the dedicated recycling platform. The Company remains on schedule for continuous operations during the second quarter.

The Company has also completed and submitted its first major operating permit application with the State of Nevada for our second, integrated, industry-scale facility located in Clark County, in southern Nevada and has also begun the engagement with the city, county, and surrounding industrial neighbors and community.

“Our disciplined approach with technology and systems readiness required a multi-year operation of the commercial demonstration facility, enabling this final, first of its kind design and ordering of the industrial-scale systems,” said Corrado De Gasperis, Executive Chairman and CEO of Comstock. “The ‘unit operation model’ deployed in the commercial demonstration facility is what enabled the Company to independently commission each part of the full scale plant independently, streamlining start-up. The project for readying, receiving, and commissioning this facility in Silver Springs is in full swing with frequent updates forthcoming on commissioning.”

About Comstock Inc.

Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contacts

For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222
[email protected]

For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573
[email protected]

Forward-Looking Statements 

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; divestitures, spin-offs or similar distribution transactions, future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, divestitures, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

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The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.86% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Analog Devices (ADI - Free Report) Analog Devices, Inc. is headquartered in Norwood, Massachusetts. The company is an original equipment manufacturer of semiconductor devices, specifically, analog, mixed signal and digital signal processing (DSP) integrated circuits.

ADI is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Computer and Technology stock. ADI has a Momentum Style Score of A, and shares are up 11.2% over the past four weeks.

11 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $1.46 to $11.22 per share. ADI boasts an average earnings surprise of +6.1%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, ADI should be on investors' short list.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.86% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: TriMas (TRS - Free Report) Based at Bloomfield Hills, MI, TriMas is a diversified global designer, manufacturer and distributor of engineered and applied products that serve a variety of industrial, commercial and consumer end markets worldwide.

TRS is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Industrial Products stock. TRS has a Momentum Style Score of B, and shares are up 8.6% over the past four weeks.

One analyst revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.01 to $2.49 per share. TRS also boasts an average earnings surprise of +8.4%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, TRS should be on investors' short list.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.86% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: ArcelorMittal (MT - Free Report) Luxembourg-based ArcelorMittal is the world’s leading steel and mining company. With a presence in more than 60 countries, it operates a balanced portfolio of cost competitive steel plants across both the developed and developing world. It is the leader in all the main sectors – automotive, household appliances, packaging and construction.

MT is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Momentum investors should take note of this Basic Materials stock. MT has a Momentum Style Score of B, and shares are up 14.1% over the past four weeks.

For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.17 to $5.00 per share. MT boasts an average earnings surprise of +26.6%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, MT should be on investors' short list.

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.86% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: GE HealthCare Technologies (GEHC - Free Report) Chicago, IL-based GE HealthCare Technologies, a leading global medtech company, operates across four primary segments — Imaging, Ultrasound (AVS), Patient Care Solutions (PCS), and Pharmaceutical Diagnostics (PDx). Headquartered in Chicago, the company has a diversified portfolio of advanced medical imaging systems, ultrasound devices, monitoring equipment, and a growing radiopharmaceuticals pipeline. With a mission to deliver precision care, GEHC continues to pivot from a traditional equipment vendor toward an integrated solutions provider, combining hardware, software, digital analytics, and pharmaceuticals.

GEHC is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Medical stock. GEHC has a Momentum Style Score of B, and shares are up 0.1% over the past four weeks.

Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.06 to $4.99 per share. GEHC also boasts an average earnings surprise of +7.5%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, GEHC should be on investors' short list.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.86% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Costco (COST - Free Report) Based in Issaquah, Washington, Costco Wholesale Corporation sells high volumes of foods and general merchandise (including household products and appliances) at discounted prices through membership warehouses. It is one of the largest warehouse club operators in the United States. The company also operates e-commerce sites in the United States, Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan and Australia.

COST is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Retail-Wholesale stock. COST has a Momentum Style Score of B, and shares are up 3.6% over the past four weeks.

Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.14 to $20.23 per share. COST also boasts an average earnings surprise of +0.5%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, COST should be on investors' short list.

IT tops Q4 estimates as research demand drives growth, but rising talent costs, AI disruption and forex risks cloud the outlook.

Prologis, Inc. (PLD) Presents at 47th Annual Raymond James Institutional Investor Conference Transcript

First Horizon Corporation (FHN) Presents at 47th Annual Raymond James Institutional Investor Conference Transcript

Journalist

Posted: March 3, 2026

Bitcoin’s [BTC] price action remains uncertain, with the asset locked in a range-bound structure for weeks, trading between $68,000 and $70,000 without a decisive breakout in either direction.

Amid this indecision, fresh on-chain data and liquidity trends suggest that buyers may be attempting to regain control. If sustained, this shift could shape Bitcoin’s short-term trajectory.

Active Bitcoin supply declines Active Bitcoin supply has fallen over the last 30 days, signaling reduced transaction activity across the network. This contraction carries several implications for the broader market.

Under current conditions, the decline suggests fewer coins are changing hands, contributing to subdued volatility.

Lower activity typically reflects caution among participants, particularly in an environment where conviction remains fragile.

Source: Alphractal

Recent liquidation data reinforces this view. Over the past few days, total liquidations have amounted to roughly $132 million—a relatively modest figure compared to periods of heightened volatility.

Liquidations often spike during sharp price swings, so the muted figure underscores the current market calm.

This trend also indicates that traders are less willing to assume additional risk. Instead, many prefer to hold their assets for longer durations.

Holding reduces circulating supply, which can be constructive, particularly at a time when demand appears weak and broader sentiment remains cautious.

Demand shows signs of exhaustion Spot exchange netflow—a key indicator used to track inflows and outflows of assets from exchanges—points to thinning demand.

Data from CoinGlass shows that total Spot accumulation over the past 72 hours reached just $238.11 million in net buys.

Notably, the 1st of March accounted for more than half of that figure, with $145.22 million in net purchases. Even then, the overall scale remains limited. Today alone, roughly $55.62 million flowed into Bitcoin.

Such demand levels are insufficient to trigger a decisive price move. While a segment of investors maintains a bullish outlook, the broader market appears sidelined and cautious.

Source: CryptoQuant

Interestingly, most of the recent purchases have come from whales—large holders with substantial capital at their disposal. Despite their participation, price action has remained largely muted.

Spot average order size data supports this observation, showing that both large and smaller whales have dominated trading activity for more than eight consecutive weeks.

Yet, their accumulation has not translated into a meaningful breakout, underscoring the lack of broader market participation.

Sell pressure remains contained One constructive development is the steady increase in the number of Bitcoin addresses in profit.

Data from CryptoQuant’s UTXO (unspent transaction output) in profit metric shows a growing share of holders sitting on unrealized gains. Typically, rising profitability can incentivize selling, adding pressure to price.

However, active addresses have declined, suggesting that many of these profitable holders are not rushing to exit. Instead, they appear content to hold.

At the time of writing, the number of UTXOs in profit stood at approximately 246 million.

Source: CryptoQuant

If this upward trend continues without a corresponding surge in selling activity, Bitcoin could attempt a break above the $70,000 threshold. Still, sustained upside will require stronger Spot market demand.

Without it, any breakout risks fading, leaving Bitcoin confined within its current range.

Final Summary Active Bitcoin supply has declined over the past 30 days as investors pull back from transacting. Demand has fallen to a notable low, even as the number of investors in profit continues to rise.

The US miner plans to sell nearly all of its Bitcoin holdings, reflecting a broader industry shift toward AI and HPC.

Market Sentiment:

Bullish Bearish Neutral

Published: March 3, 2026 │ 2:00 PM GMT

Created by Kornelija Poderskytė from DailyCoin

Core Scientific announced it expects to sell nearly all of its Bitcoin reserves, approximately 2,500 BTC, during the first quarter of 2026. 

As one of the largest U.S.-based crypto mining and blockchain infrastructure companies, Core Scientific says the sale is intended to boost liquidity and fund capital expenditures for its expansion into AI-focused compute colocation services.

Sponsored

The company expects to sell most of its Bitcoin holdings in the first quarter, but the exact timing and amount could change depending on the market and its cash needs.

As of the end of 2025, Core Scientific held 2,537 Bitcoin, worth $222 million, up nearly tenfold from 256 BTC a year earlier. Despite heavy spending on AI-focused colocation, the company retained most of its mined Bitcoin, steadily building its reserves.

Strategic Shift Toward AI and High-Performance ComputingCore Scientific’s plan to sell Bitcoin shows a major strategic shift. The company, once one of the largest publicly traded Bitcoin miners in the U.S., is moving away from pure mining. It is now focusing on high-density AI and high-performance computing (HPC) colocation.

This follows a broader industry trend, where miners are repurposing infrastructure and treasury assets for AI workloads, which are expected to provide more predictable returns than traditional mining.

Several major miners are following a similar path, shifting focus from traditional Bitcoin mining to AI and high-performance computing (HPC). 

Earlier this year, MARA Holdings announced a joint venture with Starwood Digital Ventures to build up to 2.5 gigawatts of IT capacity for AI workloads, signaling a clear move into new revenue streams.

Bitdeer Technologies Group reportedly sold its entire Bitcoin treasury to reallocate capital into AI and HPC infrastructure, while Cipher Digital (formerly Cipher Mining) rebranded to highlight its HPC focus and secured significant funding for data center expansions with major partners.

Why This MattersThe reduction of Bitcoin exposure by major miners such as Core Scientific, Bitdeer, and MARA signals a structural shift in the industry. Large-scale mining capacity is moving away from BTC production, which could tighten supply and slow network hash rate growth temporarily, at least temporarily.

Discover DailyCoin’s popular crypto news now:
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People Also Ask:What is high-performance computing (HPC) and why are crypto miners moving into it?

HPC involves using powerful computing infrastructure for tasks like AI, data analysis, and simulations. Miners are pivoting to HPC because it offers potentially higher returns than traditional Bitcoin mining.

Does selling Bitcoin by miners affect the market?

Large-scale sales can temporarily increase Bitcoin supply on exchanges, which may influence prices. However, broader market impact depends on total market liquidity and other participants’ actions.

Who will mine Bitcoin if large miners exit?

Smaller miners, new entrants, or miners in low-energy-cost regions may continue mining, but the network could become more fragmented.

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

Market Sentiment

0% Neutral

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

Ethereum prints a sixth red monthly candle as ETH retests a descending trendline, with traders tracking $1,800s or $2,222.

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

XRP, the fifth crypto asset by market capitalization, has decoupled from Bitcoin (BTC), the leading digital coin. The decoupling occurred within the last 24 hours as the price of BTC recorded a slight uptick, leaving XRP in the red zone.

XRP struggles below $2 as bearish momentum persistsAs per CoinMarketCap data, XRP is no longer responding to Bitcoin’s speculative cycles in the short term. This decoupling implies that XRP would have to rely on its own utility as an asset in the crypto space to post a price rebound if it hopes to quit the red zone.

XRP’s downward momentum has lingered for some time, and the coin has found it difficult to reclaim the $2 price zone. In the last 30 days, XRP has dipped by over 19.03% as volatility concerns continue to impact the altcoin.

A positive development from its recent decoupling from Bitcoin is that the trading volume is up by 25.11% to $3.33 billion as of this writing. The spike in volume is likely due to activity by large holders on the XRP market.

The price has remained within the $1.34 to $1.42 range over the last 24 hours. XRP currently exchanges hands at $1.34, which represents a 0.6% decline within the period.

XRP Price Chart | Source: CoinMarketCap/TradingViewThe asset’s Relative Strength Index (RSI) of 43.23 does not offer much hope as it signals continued bearish momentum. With XRP decoupled from Bitcoin, its price needs to climb up to $1.40 and stabilize above it in order to challenge the current short-term downtrend.

Notably, for this to happen, the volume increase needs to be sustained by market participants. A continued surge in volume signals conviction on the part of buyers in the ecosystem. If the volume slips, XRP could face a more difficult path reversing the downtrend.

XRP’s liquidation pressure and March rebound outlookAs U.Today reported, XRP risks losing about 50% of its value against Bitcoin after it closed February bearish. XRP’s performance stayed below the middle Bollinger Band on its monthly time frame, signaling the likelihood of a lingering downtrend for the altcoin.

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Already, on the first trading day of March, XRP investors experienced harsh liquidation for long traders as the market lost over $350 million in 24 hours. The price instability of XRP has left many guessing at the prospects of the coin.

Nonetheless, data suggests that XRP could rebound by as much as 16.5%, which is the coin’s monthly average growth rate for March. If this happens, XRP could close above $1.60 or higher under favorable conditions. 

Cardano (ADA), down 5.9% from Monday, joined Aave (AAVE) as an underperformer.

Bitcoin price retreated by over 2.50% on Tuesday, erasing some of the gains made on Monday. It dropped to $67,000, and could be at risk of falling to $50,000 as the US dollar and crude oil prices surge.

Summary

Bitcoin price retreated by over 2.50% on Tuesday, erasing the gains made on Monday. The coin retreated as the US dollar and bond yields rose. Crude oil prices continued rising as the war in Ukraine continued. US dollar and crude oil surge amid risks of a prolonged war Bitcoin (BTC) price has sunk into a technical bear market, a trend that may continue in the foreseeable future. The US Dollar Index jumped to $99.38, its highest level since January this year. It has soared by over 3.8% from its lowest level in January.

Crude oil prices have continued rising, with Brent jumping to $84 and the West Texas Intermediate hitting $76. Oil was trading at $55 earlier this year, and analysts believe that the uptrend will continue as the war in Iran accelerates.

Therefore, the implication is that the Federal Reserve will find it difficult to cut interest rates as inflation continues rising. A report released last week showed that the Producer Price Index held steady in February, a trend that may continue this year. 

The bond market is sending signals that the Fed may hold rates steady. For example, the 10-year yield rose by 1.33% to 4.105%, while the 30-year jumped to 4.70%. This mirrors the performance in key prediction markets, with most traders expecting it to cut rates two times this year.

Bitcoin price often retreats when the US dollar index is in a strong uptrend and when the Fed is embracing a more hawkish tone.

Meanwhile, data compiled by CoinGlass shows that the futures open interest dropped to over $43 billion, down sharply from last year’s high of over $95 billion.

Bitcoin price prediction: technical analysis BTC price chart | Source: crypto.news  The daily chart reveals that the BTC price has sold off since October last year. It has stayed below the 50-day moving average and the Supertrend indicators. That is a sign that bears remain in control.

The coin has also formed a bearish pennant pattern, which normally leads to more downside, potentially to the year-to-date low of $60,000. A drop below that level will signal more downside to the psychological level at $50,000.

On the positive side, the reversal may happen soon if there are signs of a ceasefire happening in the Middle East.

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With about 414 billion SHIB leaving exchanges in less than a day, Shiba Inu recently experienced a notable on-chain shift. The recent bearish pressure that usually results from growing exchange reserves is effectively reset by the negative netflow figure, which indicates that more tokens are being withdrawn than deposited.  

Exchange metrics show that while total exchange netflow has gone negative, reserves have somewhat decreased. In general, this combination suggests that holders might be transferring assets into private wallets instead of getting them ready for liquidation. 

Market complicatedSHIB is still trading below all significant moving averages and is stuck in a steady decline. The asset keeps printing lower highs and lower lows, and every small attempt at a recovery is swiftly sold. The price is being pushed toward new local lows, and the larger bearish structure is being reinforced by recent candles that show acceleration to the downside.

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SHIB/USDT Chart by TradingViewAn important dynamic is created by the divergence between price weakness and on-chain improvement. Large exchange outflows do not always result in buying demand, but they do lessen short-term supply pressure. 

Market players must intervene forcefully enough to recover broken resistance levels in order for SHIB to enter recovery mode. Technical structure continues to be the prevailing factor until that occurs.

What should investors expect? Stabilization is more likely than an instant breakout in the near future. If overall sentiment toward cryptocurrencies improves, the negative netflow may slow further downward momentum and set the stage for a relief bounce. In such cases, a technical recovery from oversold territory of 10-20% would not be out of the ordinary.

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Confirmation is crucial, though. Genuine accumulation, as opposed to transient short covering, would be indicated by sustained higher lows and rising volume on upward movements. 

SHIB may continue to decline, even in the face of improved exchange metrics, if those components do not show up. Shiba Inu is currently in a difficult situation. Although there is less sell pressure, according to on-chain data, the price action is still structurally weak.

Circle stock jumped after strong USDC growth and rising revenue. Clear U.S. stablecoin regulations boosted investor confidence. Shares of the circle have continued to climb on Monday by rising 15% and extended gains to nearly 60% since the company reported its fourth quarter earnings last week. The stock is now trading around $96, up more than 70% over the past month. 

The main reason behind the stock surge is strong growth in Circle’s stablecoin. Circle says that USDC supply increased 72% year over year to $75.3 billion, and the transaction volume reached $11.9 trillion, up 247%, with revenue rising 77% to $770 million. Investors appear focused on the company’s strong growth rather than the short-term loss. 

Investors’ confidence has also improved due to the clearer rules for the stablecoin in the U.S. Trump has signed the Genesis Act into law, and the act sets rules for the stablecoin issuer and aims to strengthen oversight. Recently, the U.S. Office of the Comptroller of the Currency shared details on how the law will be implemented. 

The rally in the Circle shares in happening while markets react to the geopolitical events. Following a U.S. military operation in Iran, Bitcoin briefly sold off before stabilizing. Meanwhile, oil and gold prices rose due to supply concerns, and investors shifted attention to the defensive crypto assets like stablecoins. 

Some analysts say that the Circle is no longer viewed simply as a cryptic company. Instead, it is increasingly seen as a part of the future of AI-poweredpayments infrastructure. Investors currently see Circle as a stable player in the digital asset industry, while risk remains in the broader market. 

Highlighted Crypto News: Iran Crypto Volume Drops 80% After US-Israel Strikes   

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Dogecoin ETF products have upturned their no-inflow stalemate in an unusual twist on the market. Current data from SoSoValue shows that these products have raked in more than $779,000 as of March 2. This coincided with a time when the DOGE price was experiencing neutral consolidation

Dogecoin ETF outlookThe SoSoValue chart shows that the last time Dogecoin ETF recorded an inflow was Feb. 2. At the time, the products saw a total of $252,530 in inflows. 

Dogecoin ETFs are not particularly the favorites of institutional investors, as intermittent inflows come only after a long period of no flow. Since launch, Dogecoin ETF products have recorded a total inflow of $7.45 million.

This inflow record pales in comparison to figures recorded by rival altcoin XRP. XRP ETF products have seen more than $1.2 billion in inflows, suggesting investors' preference for the bridge asset over a meme coin.

Judging by the inflow trend, the $779,000 recorded this month marks the highest level since the more than $1.6 million raked in in early January.

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It remains unknown whether the current ETF inflow will prove sustainable for Dogecoin, as the majority of altcoins are seeing drawdowns from their respective all-time highs.

Dogecoin price analysisIn reality, the actual Dogecoin ETF inflow is not enough to stir a positive shift in the price of the underlying currency.

For the Dogecoin price to experience a positive tick, the ETF inflow will have to be sustainable over a longer time frame. The liquidity drain stirred by ETF products remains a crucial catalyst for a price surge, and investors are watching this, alongside the DOGE open interest trend.

Dogecoin Price Chart | Source: CoinMarketCap/TradingViewAs of writing, the price of Dogecoin was pegged at $0.09, down by 0.25% in the past 24 hours, per CoinMarketCap data. Although DOGE is still deep in a death cross setup, its improving RSI from the oversold level hints that a possible bullish flip is possible.

CME Group’s Crypto Futures Empire GrowsCME Group has significantly expanded its regulated crypto futures lineup, now offering exposure to over 75% of the total cryptocurrency market capitalization, a landmark milestone that highlights the accelerating institutional adoption and mainstream integration of digital assets.

The global derivatives powerhouse announced that with the launch of futures contracts for Cardano, Chainlink, and Stellar, its regulated crypto suite now captures a commanding share of total market capitalization. 

These additions build on its existing Bitcoin, Ether, Solana, and XRP futures, cementing one of the most expansive and institution-ready crypto derivatives platforms in the world.

The expansion comes as Bitcoin and major altcoins continue to rally, defying geopolitical tensions surrounding U.S.–Israel & Iran skirmishes and reinforcing crypto’s growing role as a resilient macro asset class.

In a statement, CME noted: 

“Combined with our existing Bitcoin, Ether, Solana and XRP products, the introduction of Cardano, Chainlink and Stellar futures now provide access to over 75% of the crypto market capitalization.”

CME Group Expands Crypto Futures, Bringing 75% of Market Cap Under Regulated Institutional AccessThis expansion is far more than symbolic, it reflects a calculated push to capture surging institutional appetite for regulated, diversified crypto exposure. 

By offering futures tied to assets that represent the majority of total market capitalization, CME Group is cementing its role as the primary on-ramp for hedge funds, asset managers, and corporations seeking compliant, risk-managed access to digital assets.

Meanwhile, Brad Garlinghouse has signaled that the CLARITY Act could be imminent, noting that the regulatory “door is wide open.” If realized, clearer U.S. crypto legislation would further legitimize the sector, reinforcing institutional confidence and accelerating capital inflows into regulated platforms like CME.

Well, CME’s inclusion of XRP and Stellar (XLM) reinforces its presence in blockchain networks powering real-world financial systems, while Cardano and Chainlink expand exposure to smart contracts and decentralized oracles, key pillars of Web3. Notably, Ripple’s CTO confirms XRP transactions are fully immutable and unstoppable.

For institutional investors, crypto futures provide advantages beyond spot markets: standardized contracts, regulated clearing, capital efficiency, and transparent price discovery.

Leveraging its dominance in traditional derivatives, CME brings credibility as digital assets mature into a mainstream asset class.

With over 75% of the total crypto market now accessible on a U.S.-regulated exchange, crypto is moving beyond a niche market and integrating into core financial infrastructure. 

As regulatory clarity strengthens and institutional adoption grows, CME’s expanding crypto suite is poised to become the benchmark for large-scale digital asset exposure, cementing its central role in the evolving crypto economy.

ConclusionCME Group’s expansion is a milestone in crypto’s institutional evolution. With regulated futures covering over 75% of the market, including XRP, CME is turning digital assets from speculative instruments into risk-managed investment vehicles. 

As institutional demand grows and regulation matures, CME is emerging as a cornerstone in integrating crypto into mainstream finance.