Blockonomi

TLDR:

ZRO becomes the only gas, staking, and fee asset across Zero, LayerZero, and Stargate infrastructure layers.

Protocol revenue from priority fees, MEV tips, markets, and payments will all route directly into ZRO.

Institutional buyouts removed 19.77 percent of total ZRO supply from future unlock circulation schedules.

Public dashboards currently overstate ZRO unlock pressure by nearly twofold due to outdated supply data.

LayerZero has clarified how its ZRO token will function inside the upcoming Zero network after days of market speculation. 

The update outlines a single-asset economic design that ties protocol activity directly to ZRO. It also revises assumptions about future supply pressure from token unlocks. The disclosure arrives ahead of Zero’s planned mainnet launch later this year.

ZRO Tokenomics Anchors Zero Network Fee Structure

Bryan Pellegrino published the clarification in a post on X, addressing questions around Zero’s economic design. He stated that the project will not issue a new token for the network. ZRO will serve as the only asset across all Zero functions.

In the week since we announced Zero, there has been a lot of speculation about ZRO’s role in Zero and on ZRO’s tokenomics. Let’s clear that up.

There will be no new token for Zero. ZRO is the only asset.

• ZRO will be the staking asset within Zero

• ZRO will be the…

— Bryan Pellegrino (臭企鹅) (@PrimordialAA) February 19, 2026

ZRO will act as both the staking and gas token inside Zero. Every transaction and message will rely on the same asset for settlement. This approach removes the need for parallel fee tokens across zones.

According to the statement, all excess fees generated from priority fees linked to state contention will route to ZRO. Tips and MEV-related revenue will also accrue to the token. The design connects congestion and execution demand directly to token value flows.

Trading fees from the markets zone and payment fees from the payments zone will follow the same model. 

Once LayerZero activates its fee switch, every protocol message will include a ZRO-denominated charge. This makes ZRO the financial endpoint for Zero, LayerZero, and Stargate activity.

Institutional Buybacks Cut ZRO Unlock Pressure in Half

Pellegrino also disclosed updated figures on institutional participation and internal buybacks. 

He said institutional purchases and early investor buyouts now represent 19.77 percent of the total ZRO supply. Most of this came from absorbing future unlock allocations.

The update challenges assumptions shown on public token dashboards. Pellegrino noted that many trackers still treat those tokens as pending unlocks. That misclassification, he said, nearly doubles the projected supply pressure.

Community members amplified the data point after the post circulated. X user Zuuu highlighted the reduction in effective unlock risk as a key takeaway. The comment gained traction as traders reassessed ZRO’s circulating supply outlook.

LayerZero confirmed that the buyouts focused mainly on early investors and upcoming vesting schedules. The move shifts a portion of expected emissions into long-term holdings. It also reshapes how market participants model future dilution.

Zero aims to launch with permissionless infrastructure for payments, markets, and messaging. By assigning all economic flows to ZRO, the protocol links network usage with a single asset. The team said mainnet remains scheduled for this fall.

The post LayerZero CEO Clarifies ZRO Will Capture All Zero Network Fees appeared first on Blockonomi.

TLDR:

Metaplanet reports shareholder growth into the hundreds of thousands as its Bitcoin treasury strategy gains global reach.

The company increased Bitcoin per share by over 500 percent in 2025 through accumulation and derivatives-based income.

Management confirmed it will never sell Bitcoin and will rely on volatility-driven strategies to grow reserves.

Executives acknowledged drawdowns but maintained that long-term fundamentals guide every treasury decision.

Metaplanet’s shareholder base has expanded to hundreds of thousands as the company doubles down on its Bitcoin-focused treasury strategy. The firm acknowledged market volatility while confirming that its accumulation plan remains unchanged. 

Management pointed to rising global adoption and Bitcoin’s fixed supply as core drivers of confidence. The update comes as digital asset markets continue to test investor patience.

Metaplanet Bitcoin Strategy Centers on Long-Term Accumulation

Simon Gerovich credited the company’s rapid shareholder growth to sustained belief in its Bitcoin-centered model. 

He said early support came from only a small group of investors. Today, ownership spans multiple regions, reflecting wider participation in crypto-linked equity strategies.

Thank you to every Metaplanet shareholder. When we started this journey, we had a handful of believers. Today we have hundreds of thousands of shareholders around the world. That growth reflects trust, and we don't take it lightly for a single day.

This has not been an easy…

— Simon Gerovich (@gerovich) February 19, 2026

According to a statement shared on X, the firm increased its Bitcoin per share by more than 500 percent during 2025. The company framed this metric as its primary performance benchmark. 

Management said every decision now prioritizes expanding that ratio over short-term price movements.

Gerovich also acknowledged that volatility has created difficult periods for shareholders. He noted that conviction does not remove the pain of drawdowns. 

The company stressed that its outlook remains anchored in long-term fundamentals rather than short-term market cycles.

The executive added that criticism tends to intensify when Bitcoin prices decline. He argued that abandoning strategy during downturns usually leads to weaker long-term outcomes.

The company maintained that discipline matters most during unstable market conditions.

Derivatives and Market Outlook Shape Bitcoin Accumulation Plan

Metaplanet said its derivatives strategy allows it to acquire Bitcoin at more favorable levels than spot purchases alone. 

The firm uses structured trading approaches designed to benefit from price swings. Management described this as a risk-managed method that supports consistent accumulation.

The company also highlighted income generation through derivatives as a core operational pillar. This approach aims to strengthen treasury growth without selling existing Bitcoin holdings. 

Metaplanet reiterated that it does not plan to liquidate its reserves under any circumstances.

Gerovich shared a personal view that Bitcoin may have found support near the $60,000 level. He emphasized uncertainty and said no one can predict exact price direction. 

Despite that view, the company said its strategy would not change regardless of short-term movements.

Metaplanet linked its long-term outlook to Bitcoin’s fixed supply and expanding global use. Management said these features support its belief in higher valuations over time. The firm stated that shareholder trust remains central to every operational decision.

The update was released through Gerovich’s verified social account and echoed the company’s broader messaging on transparency. It signals continued commitment to BTC accumulation amid fluctuating market sentiment. 

The firm positioned itself among a growing group of Bitcoin treasury companies pursuing long-term exposure.

The post Metaplanet CEO Defends Bitcoin Bet as Shareholder Base Hits Record High appeared first on Blockonomi.

TLDR

Mike McGlone adjusted his Bitcoin price forecast from $10,000 to $28,000 following significant backlash on social media.

McGlone had originally warned that Bitcoin could drop to $10,000 if U.S. equities peaked and a recession followed.

The revised forecast of $28,000 is based on historical price distribution and fewer negative factors needed to reach that level.

Analysts like Jason Fernandes criticized McGlone’s initial prediction, calling it alarmist and unrealistic.

Mati Greenspan acknowledged the possibility of a $28,000 Bitcoin price but remained skeptical of its likelihood in the current market.

Bloomberg Intelligence’s Mike McGlone recently adjusted his bitcoin price forecast, raising his downside target to $28,000. This shift followed criticism after his initial prediction of a potential $10,000 Bitcoin price was widely questioned on social media. McGlone’s revised stance comes after market experts accused him of issuing alarmist forecasts that could negatively impact investor decisions.

McGlone Faces Backlash for $10,000 Bitcoin Call

Earlier this week, McGlone warned that bitcoin could drop to $10,000 if U.S. equities reach their peak and a recession follows. He stated that bitcoin, being a high-beta asset, would suffer in a market breakdown, especially after the collapse of the “buy the dip” mentality. This prediction attracted significant criticism, with market analyst Jason Fernandes challenging the forecast on social media platforms like X and LinkedIn.

I disagree with the deterministic framing here. Markets adapt in more than one way and there are many variables involved. I’d welcome a public debate on this @mikemcglone11. Framing like this can materially influence decisions and put real capital at risk. https://t.co/4WJeIm46Hf

— Jason Fernandes (@JasonDotX) February 17, 2026

The backlash grew when Fernandes called McGlone’s $10,000 forecast unrealistic. He argued that such a dramatic drop would require several negative factors to align. Fernandes, in his critique, noted that the bitcoin price could face risks but stated that $28,000 was a more plausible level, particularly with fewer factors needed to drive that price point.

Bitcoin Price Forecast Revised to $28,000

In a subsequent post, McGlone acknowledged the feedback and adjusted his bitcoin price forecast. He pointed to $28,000 as a more likely scenario, citing historical price distribution as the basis for his updated target. Despite this revision, McGlone still maintained a cautious outlook, advising against investing in bitcoin or other risk assets.

While McGlone’s $28,000 prediction was seen as more reasonable, some market experts like Mati Greenspan remained skeptical. Greenspan suggested that although $28,000 might be possible, the likelihood of it happening was still low. He emphasized the unpredictable nature of markets, stating that while forecasts could be helpful, they should not rule out other possibilities.

Fernandes Challenges McGlone’s Forecast Shift

Fernandes, who had initially criticized McGlone’s $10,000 prediction, continued to voice concerns even after the revision. He highlighted that McGlone’s updated forecast now aligned closer to his own lower-bound estimate of bitcoin’s price range. Fernandes pointed out that a reset in the $40,000 to $50,000 range remained more probable, especially without a systemic liquidity shock.

Despite the change in McGlone’s outlook, the broader discussion highlighted the potential dangers of deterministic predictions in volatile markets like crypto. Analysts warned that alarmist forecasts could influence positioning and potentially lead to unnecessary risks for investors. Fernandes emphasized the need for more balanced approaches when discussing the future of high-risk assets like Bitcoin.

The post Mike McGlone Adjusts Bitcoin Price Target to $28,000 After Backlash appeared first on Blockonomi.

TLDR

Sharplink, backed by Consensys, now holds a total of 867,798 ETH valued at approximately $1.68 billion.

The firm’s holdings include ETH from liquid staking tokens like LsETH and WeETH, with significant staking rewards.

Sharplink has generated 13,615 ETH in staking rewards within less than a year, benefitting its stockholders.

Nearly 100% of Sharplink’s Ethereum holdings are staked, demonstrating its long-term commitment to Ethereum growth.

Institutional ownership of Sharplink’s common stock grew to 46% as of December 31, 2025, with 60 new investors.

Sharplink, an Ethereum treasury company backed by Consensys, now holds a total of 867,798 ETH, valued at around $1.68 billion, as of February 15. This amount includes ETH that is redeemable from staking tokens such as LsETH and WeETH. Sharplink has generated over 13,000 ETH in staking rewards since its launch less than a year ago.

The firm’s CEO, Joseph Chalom, emphasized the importance of their commitment to staking, even during periods of market volatility. Sharplink aims to generate long-term value for stockholders through disciplined and transparent execution, with their institutional ownership growing steadily.

Sharplink’s Ethereum Holdings and Liquid Staking Tokens

Sharplink’s total Ethereum holdings of 867,798 ETH include 225,429 ETH that can be redeemed from LsETH, a liquid staking token. Additionally, the firm holds 55,137 ETH from ether.fi’s wrapped WeETH, which can also be redeemed. These assets contribute to the firm’s growing portfolio and long-term strategy of ETH accumulation.

Sharplink has proven its focus on staking as nearly 100% of its Ethereum holdings are staked. Over the past year, the firm has generated 13,615 ETH in staking rewards. This demonstrates their commitment to increasing their stockholder value, regardless of market fluctuations.

Institutional Growth and Investor Confidence in Sharplink

Sharplink’s institutional ownership rose to 46% as of December 31, 2025. According to the company, 60 new institutional investors joined during the fourth quarter of 2025. The increased institutional ownership highlights the growing confidence investors have in Sharplink’s operations and Ethereum-focused treasury management.

Joseph Chalom, Sharplink’s CEO, commented on the firm’s strategic growth, saying, “Sophisticated investors want disciplined execution and institutional-grade risk management.” Sharplink’s steady expansion is reflective of its strong position in the Ethereum treasury space, with investors increasingly backing the firm’s Ethereum-centric approach.

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TLDR

Peter Brandt rejects the idea of a gold-to-Bitcoin rotation, questioning its certainty and predictability.

Brandt has expressed his skepticism on Bitcoin’s price movements, arguing that they don’t follow historical patterns.

He points out that Bitcoin’s downside risk remains active unless it reclaims the $93,000 level.

Brandt has identified a broadening top formation and completed bear channel in Bitcoin’s chart.

Macro factors such as ETF inflows and Federal Reserve policies complicate Bitcoin’s price outlook.

This week, a widely shared chart predicted that capital flows from gold would soon rotate into Bitcoin, based on past cycles. The theory suggests that as gold’s record-high profits consolidate, funds will shift to Bitcoin, boosting its price. Veteran trader Peter Brandt rejected this outlook, expressing skepticism about the certainty behind such projections.

Brandt Critiques Gold-to-Bitcoin Rotation Hypothesis

The “gold-to-Bitcoin” rotation theory argues that capital typically shifts from gold to higher-risk assets like Bitcoin after periods of macroeconomic stress. Proponents of the theory point to the historical pattern where gold rallies during uncertainty, followed by Bitcoin capturing inflows as risk appetite returns. Gold is currently trading at a near-record high of $4,983 per ounce, providing a backdrop for this argument.

Despite the bullish narrative, Peter Brandt, a veteran futures trader, dismisses this theory. Brandt, who has traded commodities for over 50 years, expressed his skepticism on X with a simple thumbs-down emoji. His critique stems from the belief that Bitcoin’s price movements do not follow predictable rotations like gold’s, often invalidating widely accepted chart patterns.

— Peter Brandt (@PeterLBrandt) February 19, 2026

Brandt’s Current Stance on Bitcoin’s Price Action

Brandt has remained cautious on Bitcoin throughout early 2026, despite its proximity to $66,500. The cryptocurrency has seen a steep decline from its January highs around $92,000. Brandt’s analysis focuses more on Bitcoin’s price structure rather than the narratives surrounding it.

Previously, Brandt identified a broadening top formation and a completed bear channel in Bitcoin’s chart. These patterns indicate a continued downside risk unless Bitcoin reclaims the $93,000 level. According to Brandt, the potential for a bottoming out extends into October 2026, with a price range between $50,000 and $62,000.

Bitcoin’s outlook is further complicated by macroeconomic variables that influence capital flows. ETF inflows, Federal Reserve policies, and global debt refinancing are all critical factors impacting market sentiment. Unlike gold, which has benefited from safe-haven demand, Bitcoin’s appeal as a store of value is still evolving in the current environment.

Brandt’s view underscores the uncertainty surrounding Bitcoin’s future price movements. He warns that consensus-driven interpretations and chart patterns in crypto markets often fail to account for the unpredictable nature of Bitcoin’s price action.

The post Is Bitcoin Ready for a Gold-Driven Rally? Peter Brandt Thinks Not appeared first on Blockonomi.

TLDR

Bitcoin has lost $1.2 trillion in market value over the past five months.

Michael Saylor remains confident in Bitcoin’s future despite the market downturn.

Saylor’s firm, Strategy, faces an unrealized loss of $7.2 billion due to Bitcoin’s price drop.

Strategy has spent $4.09 billion on Bitcoin purchases this year alone.

Despite the decline, Saylor continues to buy Bitcoin, showing his unwavering optimism.

Bitcoin has seen substantial losses, shedding $1.2 trillion in market value over the past five months. The downturn has significantly impacted the crypto market, but Strategy Chairman Michael Saylor remains confident about Bitcoin’s future. Saylor continues to buy Bitcoin, despite his company’s unrealized losses from the ongoing market decline.

Bitcoin’s Massive Loss: A $1.2 Trillion Hit

Since October 2025, Bitcoin has lost $1.2 trillion, a substantial portion of the crypto market’s total decline. The global cryptocurrency market has seen a total reduction of $2.02 trillion, with Bitcoin responsible for over half of this drop. The cryptocurrency’s market cap has fallen from $2.52 trillion at its peak in October 2025 to $1.32 trillion today.

This steep decline reflects the ongoing struggles Bitcoin faces in the current market. With the price now at $66,000, Bitcoin has seen a 48% drop from its all-time high of $126,000. Despite this, Bitcoin remains the largest digital asset in terms of market capitalization.

Saylor’s Bullish Stance Amid the Decline

Despite Bitcoin’s massive losses, Michael Saylor remains unfazed, insisting that he is more bullish than ever. He maintains this positive outlook even as his firm, Strategy, faces an unrealized loss of $7.2 billion due to the price drop. “I’ve never been more bullish on Bitcoin than I am right now,” Saylor declared in a recent comment on X.

Saylor has been consistent in his belief that Bitcoin’s long-term potential remains strong. He has not altered his stance, even as analysts predict further declines in the crypto market. The Strategy Chairman’s continued optimism stands in contrast to the current bearish sentiment that dominates the market.

Never Been More ₿ullish.

— Michael Saylor (@saylor) February 19, 2026

Strategy’s Continued Bitcoin Purchases Despite Losses

Despite the ongoing market downturn, Strategy has been actively purchasing Bitcoin. This year alone, the company has spent $4.09 billion on Bitcoin acquisitions. Strategy has continued its buying spree even as Bitcoin has dropped 24% in value during the same period.

The firm’s most recent purchase was made on February 17, 2026, when it bought 2,486 BTC for $168.33 million. This followed two other Bitcoin purchases earlier in February, totaling 1,997 BTC. Saylor’s firm shows no sign of halting its Bitcoin accumulation strategy, even in the face of a prolonged downturn in the market.

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TLDR

ProShares launched the GENIUS Money Market ETF (IQMM), designed to support stablecoin issuers with liquid, short-term U.S. government securities.

The ETF is structured to comply with the GENIUS Act, which mandates stablecoin issuers to back their tokens with safe, liquid assets.

IQMM focuses on cash and Treasury bills with maturities of 93 days or less, ensuring liquidity for stablecoin issuers.

The GENIUS Act, signed into law in July, requires stablecoins to be backed 1:1 by assets that are easily convertible to cash.

The launch of the ETF comes as the stablecoin market approaches $300 billion, with projections for significant growth in the coming years.

ProShares introduced the GENIUS Money Market ETF (IQMM) on Thursday, a product designed for the growing stablecoin market. This fund aims to support stablecoin issuers by investing in highly liquid assets that meet the requirements of the GENIUS Act. The move comes as the stablecoin sector is projected to grow significantly in the coming years.

ProShares IQMM ETF Targets Stablecoin Issuers

The ProShares GENIUS Money Market ETF (IQMM) was launched to address a gap in the stablecoin market. Under the GENIUS Act, stablecoin issuers must back their tokens with assets that are liquid and low-risk, such as U.S. Treasury bills. IQMM is designed to invest solely in short-term, liquid U.S. government securities, meeting the law’s reserve criteria.

The law restricts eligible reserve assets to Treasury bills with maturities of no longer than 93 days. ProShares designed the fund to comply with these rules, ensuring that issuers can quickly access liquidity without selling longer-term bonds at a loss during periods of market volatility.

GENIUS Act Compliance Ensures Stability

The GENIUS Act, signed into law last July, is central to the structure of IQMM. The law aims to create a safer, more stable environment for the stablecoin market by requiring 1:1 backing with liquid, safe assets. ProShares’ ETF aligns with the law’s requirement, ensuring that stablecoins are supported by assets that can easily be converted to cash.

By focusing on cash and short-dated government securities, the fund provides issuers with the liquidity needed for daily redemptions. This ensures that stablecoin issuers can meet user demands without having to sell more volatile, longer-dated securities during times of stress in the financial markets.

Stablecoin Market Growth Prompts Regulatory Action

The launch of the IQMM fund occurs as the stablecoin market approaches $300 billion in circulation, with Tether’s USDT and Circle’s USDC leading the sector. Policymakers are preparing for rapid expansion, with some forecasts suggesting stablecoin circulation could reach $2 trillion by 2028. Wall Street projections are more optimistic, with some firms predicting the market could grow as large as $4 trillion.

Treasury Secretary Scott Bessent has indicated that stablecoins could become a significant part of the financial system in the coming years. His forecasts suggest the market could grow substantially by the end of the decade.

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TLDR

FXRP has surpassed 100 million tokens in circulation, reaching a major milestone within five months of its launch.

The demand for XRP-based decentralized finance products has driven the rapid growth in FXRP’s circulating supply.

Over 60% of FXRP tokens are locked in DeFi platforms like Kinetic and Firelight, showing strong user participation.

Flare has paused FXRP minting temporarily to implement a security upgrade, ensuring system integrity.

No security breaches or exploits have been reported; the minting pause is a precautionary measure to enhance security.

Flare Network’s wrapped XRP asset, FXRP, has reached an important milestone by surpassing 100 million tokens in circulation. This achievement, which occurred just five months after the launch of FAssets in September 2025, signals a surge in demand for XRP-based decentralized finance (XRPFi) solutions. The rising interest in XRP DeFi products is reflected in the strong performance of FXRP across Flare’s ecosystem.

FXRP Reaches 100 Million Tokens in Circulation

Flare Network’s FXRP has surpassed the 100 million mark in circulating supply, with tokens worth approximately $140.10 million. This milestone follows an increase in demand for XRPFi solutions, especially yield-generating products. According to reports, the FXRP supply had recently been 1.18 million tokens short of this target, but strong interest led to rapid growth in the circulating supply.

At the time of writing, FXRP’s circulating supply stands at 100.23 million tokens, minted through 38,030 transactions. This shows that these tokens are being actively used for yield generation within Flare’s DeFi ecosystem. A large portion of these tokens remains locked in native Flare-based DeFi protocols, underscoring the increasing utilization of FXRP for practical use cases rather than speculative accumulation.

Flare has seen FXRP become a key component in its decentralized finance offerings. Over 60% of the circulating FXRP tokens are locked in DeFi platforms such as Kinetic and Firelight. These platforms allow users to deploy their FXRP to earn yields, which further drives the real-world use of FXRP in the DeFi space. The high utilization rate of FXRP tokens reflects strong user interest in participating in XRPFi and earning returns.

Flare’s official X account highlighted the importance of this milestone, stating that the significance lies in the real-world use of FXRP rather than just the quantity of tokens in circulation. The network emphasized that XRPFi is designed to accommodate large XRP balances and offers secure access to yield through verifiable smart contracts. FXRP plays a crucial role in enabling reliable, scalable participation in the DeFi space, offering a solid infrastructure for users to engage with decentralized financial products.

Flare Pauses FXRP Minting Amid Security Updates

Despite the rapid adoption of FXRP, Flare has temporarily paused the minting of additional tokens. Hugo Philion, Flare’s co-founder, confirmed that the pause follows a report from a security partner. The decision comes as part of a proactive move to implement a contract upgrade that will enhance security measures across the platform.

Philion clarified that this action is not the result of any exploit or security breach, and no funds have been compromised. Instead, the suspension of FXRP minting aims to strengthen the security of Flare’s systems and ensure the integrity of FXRP operations. Flare plans to release the contract upgrade on both Flare and Songbird networks, with further communication expected before implementation.

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TLDR

CME Group will begin offering 24/7 crypto futures and options trading starting May 29.

The move expands access to regulated digital asset derivatives as institutional demand grows.

CME Group’s decision aims to fill the timing gaps left by continuous trading on spot exchanges.

In 2025, CME reported a record $3 trillion in notional volume traded across its crypto products.

The expansion follows a 46% year-over-year increase in CME’s average daily crypto volume.

CME Group will begin offering round-the-clock cryptocurrency futures and options trading for assets like Bitcoin and Ethereum on May 29. This move will allow continuous access to its regulated digital asset derivatives market. The expansion comes as institutional demand for crypto products grows at an accelerated pace.

CME Group Expands Trading Hours for Crypto Futures and Options

CME Group’s decision to launch 24/7 crypto trading marks a milestone in its ongoing digital asset offerings. This change comes as the company responds to increasing demand for more flexible trading options in crypto derivatives. It will allow institutional investors to manage their risk and exposure at any time, without waiting for traditional market closures.

In the past, digital asset trading operated continuously on spot exchanges, leaving gaps for those trading regulated crypto products. By introducing continuous trading hours, CME Group aims to address these timing issues, providing institutions with the ability to hedge and manage risks seamlessly. This update will enhance the accessibility of CME’s futures and options markets.

CME Group’s decision comes after experiencing a record trading volume in its cryptocurrency products. In 2025, the company reported $3 trillion in notional volume traded across its crypto futures and options. This surge in trading volume underscores the growing institutional interest in regulated crypto exposure.

Tim McCourt, CME’s global head of equities, FX, and alternative products, noted that client demand for crypto risk management has reached new highs. “Providing always-on access to our regulated, transparent cryptocurrency products ensures clients can manage their exposure and trade with confidence at any time,” McCourt said. The change reflects CME’s ability to adapt to market demand while remaining a key player in the cryptocurrency derivatives market.

Institutional Demand for Crypto Products Continues to Rise

CME Group’s shift to 24/7 crypto futures trading follows an ongoing trend of increased demand for digital asset products. The company has seen impressive growth in crypto-related trading. Year-to-date, CME reported an average daily crypto volume of 407,200 contracts, up 46% from the previous year. The average daily open interest has also risen by 7%.

This expansion is in line with CME’s strategy to broaden its digital asset product lineup. In addition to Bitcoin and Ethereum, CME has added contracts for other cryptocurrencies, such as Cardano, Chainlink, and Stellar. The market for crypto-linked products is increasingly competitive, with other exchanges and companies like Coinbase and Kraken investing heavily in similar products to cater to the rising institutional interest.

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TLDR

Bitdeer announced plans to raise $300 million through a private sale of convertible senior notes.

The company intends to use the proceeds to manage share dilution and expand its business operations.

The convertible notes are due in 2032 and can be converted into cash, shares, or a combination of both.

Bitdeer also plans to sell Class A shares directly to holders of its 5.25% convertible notes due in 2029.

The market reacted negatively, causing Bitdeer’s shares to drop 17% and fall below $8 for the first time since April.

Shares of Bitdeer Technologies (BTDR) dropped 17% on Thursday after the company announced plans to raise $300 million through a private sale of convertible senior notes. These notes, due in 2032, could be converted into cash, shares, or a mix of both at Bitdeer’s discretion. Alongside this, Bitdeer also revealed plans for a registered direct offering of Class A shares.

The company intends to use the funds to address share dilution and expand its business operations. The announcement sent Bitdeer’s stock to below $8 for the first time since April, reflecting investor concerns about the potential impact of these financial moves.

Bitdeer Announces Convertible Senior Notes Offering

Bitdeer’s $300 million convertible senior notes offering has raised concerns about possible dilution of its shares. The company’s decision to sell these notes, due in 2032, comes with the potential for noteholders to convert the debt into equity. The conversion could increase the total share count, leading to dilution if Bitdeer’s stock price rises in the future.

Additionally, Bitdeer plans to use a capped call transaction to mitigate some of the potential dilution caused by the conversion. The capped calls are designed to offset the effect of increased shares, though such measures can introduce volatility in the company’s stock price. The company has also secured an underwriter greenshoe option for an additional $45 million in notes, adding further uncertainty to its financial strategy.

Bitdeer Plans Registered Direct Offering and Repurchase of Convertible Notes

Along with the convertible note offering, Bitdeer intends to sell an unspecified number of Class A shares in a registered direct offering. This offering will be aimed at holders of its existing 5.25% convertible notes due in 2029. The company plans to use the proceeds to repurchase a portion of these notes in private deals and fund the capped call transactions.

Bitdeer’s strategy is to manage the risk of share dilution while securing the necessary capital for its future operations. It aims to use the remaining funds for expanding its data center infrastructure, enhancing its high-performance computing and AI cloud businesses, and developing ASIC-based mining rigs.

The two financial offerings depend on the successful completion of the convertible note sale and related repurchases, but the note offering can proceed independently. This combination of offerings and repurchases is part of Bitdeer’s plan to maintain control over its stock structure while continuing to grow its business.

Despite these efforts, the market reacted negatively, with Bitdeer’s shares falling to their lowest point in several months. The fear of dilution from the new offerings has weighed on investor sentiment, driving the stock down by 17% in early trading.

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TLDR

Hims & Hers Health (HIMS) will acquire Australian digital health company Eucalyptus for up to $1.15 billion.

The deal includes ~$240 million cash at closing, deferred payments over 18 months, and performance-based earnouts through early 2029.

Eucalyptus runs a ~$450 million annual revenue business with brands like Juniper and Pilot, serving 775,000+ customers.

The acquisition expands HIMS into Australia and Japan, and deepens its presence in the UK, Germany, and Canada.

Eucalyptus CEO Tim Doyle will head international operations at Hims & Hers post-closing.

Hims & Hers Health announced Thursday it will acquire Australian digital health company Eucalyptus in a deal valued at up to $1.15 billion.

The transaction will be structured with roughly $240 million payable in cash at closing, followed by deferred payments over 18 months and additional performance-based earnouts running through early 2029.

Hims & Hers said it plans to fund most of the deal using existing cash and U.S. operating cash flows. The company also retains the option to settle a majority of deferred and earnout obligations in either cash or stock.

The deal is expected to close around mid-2026, subject to regulatory approvals and customary closing conditions.

Eucalyptus brings a fast-growing business to the table. The Australian company is running at nearly $450 million in annual revenue and has served more than 775,000 customers across its portfolio of consumer health brands.

Those brands include Juniper, a weight-loss program, and Pilot, a men’s telehealth service. Both operate across multiple international markets.

A Foothold in New Markets

For Hims & Hers, the strategic appeal is clear. The deal would give it direct operations in Australia and Japan, two markets where it currently has no presence.

It also strengthens existing partnerships in the UK, Germany, and Canada — markets where Hims & Hers has been building out its telehealth footprint.

Post-closing, Eucalyptus CEO Tim Doyle is set to lead all international operations at Hims & Hers. The Eucalyptus brands will be folded into the Hims & Hers platform over time.

Management said the combined business is expected to support category leadership in Australia and reinforce HIMS as a major telehealth provider in Europe.

The Wegovy Shadow

The deal comes at a complicated time for Hims & Hers domestically. The company is currently facing a lawsuit from Novo Nordisk after the FDA crackdown forced it to pull its $49 compounded copy of Wegovy from the market.

That regulatory setback hit a key growth driver for HIMS, making the international diversification story behind this acquisition particularly timely.

The most recent analyst rating on HIMS stock is a Buy with a $30.00 price target.

HIMS shares were up 2.65% in after-hours trading following the announcement, though the stock was down 2.64% during the regular session on Thursday.

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CME will offer 24/7 crypto futures and options starting May 29, pending approval.

Year-to-date 2026 ADV hits 407,200 contracts, up 46% from last year.

Futures ADV rises 47% YoY, signaling strong institutional interest in crypto derivatives.

CME implements brief weekly maintenance; all holiday trades settle the next business day.

 

CME Group will begin round-the-clock trading for cryptocurrency futures and options starting May 29. The move awaits regulatory approval. Trading will run continuously on CME Globex, with a brief weekly maintenance window. 

The update comes amid record demand for digital asset risk management, according to Walter Bloomberg. In 2025, CME reported $3 trillion in crypto notional volume. Year-to-date 2026 volumes are up 46%, highlighting growing institutional participation.

The announcement was confirmed via a press release from CME Group. It emphasizes access to regulated, transparent crypto products at all times for market participants.

CME TO LAUNCH 24/7 CRYPTO TRADING MAY 29

CME Group will begin 24/7 trading of its regulated cryptocurrency futures and options on May 29, pending regulatory approval.

Trading will run continuously on CME Globex, with a brief weekly maintenance window. The move comes amid record…

— *Walter Bloomberg (@DeItaone) February 19, 2026

Continuous Trading and Market Access

Starting Friday, May 29 at 4:00 p.m. CT, CME cryptocurrency products will trade 24/7. A

 two-hour weekly maintenance period will occur over weekends. Trade dates for holiday or weekend activity will follow the next business day. Clearing, settlement, and regulatory reporting will also be processed on the next business day.

Tim McCourt, Global Head of Equities, FX, and Alternative Products at CME Group, said client demand for digital asset risk management is at an all-time high. Providing 24/7 access aims to let clients manage exposure anytime. Consequently, traders can react to market changes without delay.

This continuous trading structure includes both futures and options. CME Globex will host all transactions. As a result, the exchange meets rising institutional interest in high-frequency crypto risk management.

Record Volumes and Market Impact

Crypto trading at CME continues to reach record levels in 2026. Average daily volume stands at 407,200 contracts, up 46% year-over-year. Futures ADV alone is 403,900 contracts, marking a 47% increase. Open interest has risen 7% to 335,400 contracts.

CME operates across multiple asset classes, including interest rates, equity indexes, and commodities. Its derivatives platform allows clients to manage risk efficiently and capture opportunities. 

By offering 24/7 crypto trading, CME provides a regulated alternative to unregulated markets.

The update also aligns with CME’s goal to enhance market transparency. Clients can trade with confidence, knowing all activity occurs under regulated oversight. This development strengthens the exchange’s position as a leading crypto derivatives marketplace.

The post CME Goes 24/7: Here’s When Crypto Futures and Options Trading Starts appeared first on Blockonomi.

TLDR

Lemonade (LMND) Q4 revenue hit $228.1 million, up 53.3% year-on-year, beating estimates of $217.6 million

Adjusted EPS loss of -$0.29 beat analyst estimates of -$0.39 by $0.10

Net premiums earned came in at $179.5 million, an 8.3% beat and 77.4% year-on-year growth

Q1 2026 revenue guidance of $246–$251 million tops analyst consensus of $241.6 million

Shares jumped over 17% in pre-market trading following the results

Lemonade (NYSE: LMND) shares surged more than 17% in pre-market trading on Thursday after the company posted Q4 results that beat analyst expectations across the board.

Revenue for the quarter came in at $228.1 million, up 53.3% year-on-year and ahead of the Wall Street consensus of $217.6 million. That’s a solid beat by any measure.

$LMND (Lemonade) #earnings are out: pic.twitter.com/EMgd9say6F

— The Earnings Correspondent (@earnings_guy) February 19, 2026

The company reported an adjusted loss of $0.29 per share, compared to analyst estimates of -$0.39. That’s a $0.10 beat, or roughly 26% better than expected.

Net premiums earned — the number analysts tend to watch most closely for insurers — came in at $179.5 million. That beat estimates of $165.8 million by 8.3% and grew 77.4% compared to the same quarter last year.

Pre-tax loss for the quarter was $20.6 million, representing a -9% margin.

Strong Premium Growth Drives the Beat

Net premiums earned have grown at a 47.3% annualized rate over the last five years, well above the broader insurance industry average.

Over the past two years, that growth rate has moderated to around 30% annually — still a healthy clip, and consistent with the company’s overall revenue trajectory.

Lemonade’s revenue has compounded at roughly 50.9% annually over the last five years. The most recent two-year annualized rate of 31% shows some deceleration but still points to strong underlying demand.

Net premiums earned made up about 70.8% of total revenue over the last five years, making it the company’s primary revenue driver.

Q1 2026 Guidance Tops Estimates

Looking ahead, Lemonade guided Q1 2026 revenue to between $246 million and $251 million. The midpoint of that range, $248.5 million, comes in above the analyst consensus of $241.6 million.

That forward guidance gave investors an additional reason to bid the stock higher on Thursday morning.

Lemonade operates across renters, homeowners, pet, car, and life insurance in both the U.S. and EU markets through its AI-powered digital platform.

The company’s Giveback program, which donates unused premiums to policyholder-selected charities, remains a differentiator in its positioning — though it’s the underlying growth numbers doing the heavy lifting right now.

Lemonade held a market capitalization of $4.91 billion at the time of reporting.

The company hosted a conference call Thursday at 8:00 am Eastern to discuss results.

Shares traded up 11.1% to $73.05 immediately after the report, with pre-market gains extending above 17% as the session progressed.

The post Lemonade (LMND) Stock Jumps 17% After Q4 Earnings Beat appeared first on Blockonomi.

TLDR

Carvana Q4 revenue hit $5.6 billion, up 58% year-over-year, beating estimates of $5.27 billion

Adjusted EBITDA of $511 million missed the $541 million consensus estimate

Retail units sold reached 163,522 in Q4; full-year 2025 total was 596,641 vehicles, up 43%

Gross profit per unit came in at $3,076, roughly $200 below Wall Street expectations

Q1 2026 guidance was vague, with no specific figures provided

Carvana shares dropped sharply Thursday after the used-car retailer posted mixed fourth-quarter results — strong on revenue, weak on profit.

BREAKING: Carvana stock, $CVNA, falls over -20% after reporting its lowest gross profit per unit in 8 quarters. pic.twitter.com/cNTpNIREId

— The Kobeissi Letter (@KobeissiLetter) February 19, 2026

The stock fell more than 15% in premarket trading Thursday, having dropped as much as 21% in after-hours Wednesday following the report’s release.

Q4 revenue came in at $5.6 billion, up 58% from a year ago and above the $5.27 billion analyst estimate. Retail units sold hit 163,522, also ahead of the 157,226 expected.

But the bottom line told a different story. Adjusted EBITDA came in at $511 million, short of the $541 million Wall Street was looking for. The adjusted EBITDA margin of 10.1% missed estimates of 10.4%.

Gross profit per unit was $3,076 — about $200 below expectations. Higher reconditioning and depreciation costs, along with a drop in shipping revenue, were cited as the main drivers of the shortfall.

Growth Targets Still on the Horizon

For the full year 2025, Carvana sold 596,641 vehicles, a 43% jump from 2024. The company’s estimated market share in the used-car market grew to 1.6%, up from 1.1% the year before.

CEO Ernie Garcia III reiterated the company’s long-term target: 3 million retail unit sales per year at a 13.5% adjusted EBITDA margin, to be reached sometime between 2030 and 2035.

“We are the fastest growing and most profitable automotive retailer,” Garcia said in his shareholder letter. “The path to selling 3 million cars per year at 13.5% Adjusted EBITDA margins by 2030-2035 is clear.”

For Q1 2026, guidance was light. Garcia said Carvana expects growth in both retail units and adjusted EBITDA compared to Q4, but gave no specific numbers. Wall Street had been looking for Q1 adjusted EBITDA of $671 million and retail unit sales of 175,478.

Garcia also flagged that higher reconditioning costs are expected to carry into Q1, though the company projects higher profit per unit.

Analyst Reaction

BTIG analyst Marvin Fong kept a Buy rating on CVNA but cut the price target from $535 to $455. Fong said investors will need to weigh whether Carvana’s willingness to sacrifice margin expansion for market share gain is the right trade-off — but argued unit growth remains the more important metric for the company’s story.

The stock had already been under pressure in 2026, down 14% year-to-date before the earnings drop. In January, short seller Gotham City Research alleged that Carvana overstated earnings by around $1 billion in 2023 and 2024 by not fully disclosing benefits received from DriveTime, a used-car company controlled by the CEO’s father, Ernie Garcia II. Carvana denied the allegations.

With higher costs expected in Q1 and no firm guidance given, investors are left weighing strong volume growth against continued margin pressure.

The post Carvana (CVNA) Stock Falls After Q4 Earnings Miss on Profit Margins appeared first on Blockonomi.

TLDR

Walmart Q4 U.S. comparable sales rose 4.6%, beating the 4.4% estimate, with U.S. online sales jumping 27%

Net income fell 19.4% to $4.24 billion due to equity investment losses

Full-year EPS guidance of $2.75–$2.85 missed analyst estimates of $2.97

For the first time, Walmart’s annual revenue ($713.2B) trailed Amazon’s ($716.9B)

WMT stock slumped ~3.5% in premarket, on track to open ~9% below last Friday’s record close

Walmart delivered a solid fourth quarter on the top line, but Wall Street focused on what’s coming next — and it didn’t like what it saw.

$WMT (Walmart) #earnings are out: pic.twitter.com/p79RUlKA8Q

— The Earnings Correspondent (@earnings_guy) February 19, 2026

The stock slumped 3.5% in premarket trading Thursday, putting it on track to open nearly 9% below last Friday’s record close of $133.89.

The problem wasn’t Q4 — it was guidance. Walmart projected full-year adjusted EPS of $2.75 to $2.85, well below the analyst consensus of $2.97. For Q1, it guided for EPS of $0.63 to $0.65, also missing the $0.68 estimate.

Full-year net sales growth guidance of 3.5% to 4.5% also fell short. The FactSet consensus implied 5.9% growth, pointing to revenue of around $747.94 billion.

On the revenue side, Q4 total sales came in at $190.66 billion, up 5.6% year-over-year and slightly ahead of the $190.49 billion estimate. The beat was driven by international sales, which jumped 11.5% to $35.9 billion — offsetting misses in the U.S. businesses.

U.S. comparable sales rose 4.6%, edging past the 4.4% consensus. Transactions rose 2.6% and average ticket value climbed 2%. U.S. online sales jumped 27%.

Sam’s Club and the Income Gap

Sam’s Club was a soft spot. Comparable sales rose 4%, missing the 4.3% estimate. Transactions grew 5.3%, but the average ticket fell 1.3%. Sam’s Club total sales of $23.8 billion also came in below the $23.97 billion estimate.

CFO John David Rainey noted the spending gap between high- and low-income households is widening. Walmart defines higher-income as households earning over $100,000 a year. A pullback in SNAP benefits also weighed on low-income spending in the quarter.

General merchandise prices rose 3.2% — a bigger jump than the prior quarter — while grocery prices grew less than 1%. Rainey flagged tariffs as a factor in continued price pressure heading into Q1.

Net income fell 19.4% to $4.24 billion, dragged down by equity investment losses. Adjusted EPS of $0.74 edged past the $0.73 consensus.

Amazon Overtakes Walmart in Annual Revenue

For the first time, Walmart reported lower annual revenue than Amazon. Walmart’s full-year net sales came in at $713.2 billion versus Amazon’s $716.9 billion, ending Walmart’s long run as the largest U.S. company by revenue.

Earlier this month, Walmart’s stock crossed a $1 trillion market cap for the first time. The stock is still up 21.8% over the past 12 months through Wednesday, outpacing the S&P 500’s 12% gain and well ahead of rival Target, which dropped 11.5% in the same period.

Walmart also announced a new $30 billion share buyback program.

New CEO John Furner formally takes the helm as Q4 results land, inheriting a business that continues to gain share across income groups — but faces tougher profit expectations ahead.

The post Walmart (WMT) Stock Falls After Weak Profit Outlook Overshadows Strong Q4 Sales appeared first on Blockonomi.

TLDR

Tesla confirmed Cybercab production has begun, with full assembly-line production targeting April 2026.

TSLA rose ~0.5% Wednesday to $412.51, reaching $416.46 by afternoon.

The Cybercab is a two-seat autonomous vehicle with no steering wheel or pedals.

California’s DMV dropped its suspension threat after Tesla updated FSD and Autopilot marketing.

Tesla ended Q4 with 1.1 million FSD (Supervised) subscriptions, up 38% year over year.

Tesla shares gained Wednesday after Elon Musk posted on X that production of the Cybercab has started. It’s a small move — up around 0.5% to $412.51 — but the news carries some weight given how often Tesla’s product timelines have slipped.

Musk’s post read: “Congratulations to the Tesla team on making the first production Cybercab!” By Wednesday afternoon, TSLA was trading at $416.46. The S&P 500 was up just 0.1% in the same window.

Barclays analyst Dan Levy said early units are likely for testing and validation, adding the announcement was “supportive of the April timeline” for full production.

That April target matters. Tesla’s history with deadlines is patchy at best. The Cybertruck took four years from reveal to delivery. The second Roadster, teased back in 2017, still hasn’t arrived. Keeping Cybercab on schedule would be a genuine first.

No Wheel, No Pedals, No Precedent

Unveiled at Tesla’s “We, Robot” event in October 2024, the Cybercab is a two-seater built entirely around autonomy. There is no steering wheel, no pedals, and butterfly doors designed for passenger drop-offs rather than tight parking spots.

The vehicle will operate within Tesla’s Robotaxi network. Buyers can also enroll their Cybercab in a revenue-sharing program, collecting a cut of ride earnings when it’s in service — a model Musk has compared to Airbnb for autonomous transport.

One naming detail to watch: Musk noted on the Q4 earnings call that some states bar the use of “cab” or “taxi” in product names. The vehicle could launch as “cyber car” or “cyber vehicle” in certain markets.

FSD Growth and the California Situation

Tesla’s Robotaxi service is already running in Austin using Model Y vehicles, with expansion to nine cities planned for the first half of 2026. Cybercabs will join the fleet as production scales.

FSD (Supervised) subscriptions closed Q4 at 1.1 million, up 38% year over year. The system uses a cabin camera to check driver attention and falls short of full autonomy — but the subscriber growth shows the product is finding a market.

Tesla also resolved a regulatory issue this week. California’s DMV had been moving toward suspending Tesla over its Autopilot and Full Self-Driving branding, arguing both names implied capabilities the systems don’t have. Tesla removed Autopilot from its marketing and added clearer supervision disclaimers for FSD. The DMV dropped the suspension.

Had it gone through, the suspension would have affected Tesla’s California dealerships and manufacturing operations.

Tesla’s market cap stands around $1.4 trillion, with TSLA up approximately 16% over the past 12 months.

The post Tesla (TSLA) Stock: What the Cybercab Launch Means for TSLA Investors appeared first on Blockonomi.

TLDR

Nvidia sold its entire 7.71 million share stake in Recursion Pharmaceuticals by December 31, 2025

Recursion stock swung 14% lower intraday Wednesday before closing 2% higher

ARK Invest bought 1.25 million shares across two ETFs on the same day

ARK Innovation ETF now holds 21.8 million shares of RXRX worth ~$77 million

Just 38% of analysts rate RXRX a Buy; average price target of $7 implies 98% upside

Nvidia’s latest 13-F filing confirmed it had fully exited its position in Recursion Pharmaceuticals as of December 31, 2025. The chipmaker had held 7.71 million shares for approximately two years before selling everything.

The news hit the stock hard on Wednesday. Recursion dropped as much as 14% intraday before reversing course and closing 2% in the green — a notable swing in a single session.

Nvidia had originally backed Recursion as part of its strategy to invest in AI applications across industries. The stake had long been viewed as an endorsement of Recursion’s AI-powered drug discovery model, which uses machine learning and large biological datasets to identify drug candidates faster than traditional methods.

No reason was given for the exit, and the exact timing within Q4 2025 was not disclosed.

Cathie Wood Moves In the Opposite Direction

As Nvidia was walking away, ARK Invest was buying. Cathie Wood’s firm picked up 1.25 million Recursion shares across two ETFs on Wednesday, per ARK’s daily trading notification.

ARK had been steadily building its Recursion position for months. Wednesday’s selloff gave the firm a chance to add more at a lower price.

The ARK Innovation ETF now holds 21.8 million shares of RXRX, worth around $77 million — nearly three times the size of Nvidia’s former stake.

Analysts Stay Cautious

The dueling moves reflect a wider divide on Wall Street over Recursion’s prospects.

Only 38% of analysts covering the stock carry a Buy rating — low for a company that has already fallen 68% over the past year and is down 14% in 2026 alone.

That said, those who do believe in the stock see room to run. The average analyst price target sits at $7, implying roughly 98% upside from current levels.

RXRX closed Wednesday at $3.54.

The post Recursion Pharmaceuticals (RXRX) Stock: Nvidia Bails While Cathie Wood Buys the Dip appeared first on Blockonomi.

TLDR

GPN stock surged nearly 17% Wednesday after a Q4 earnings beat and strong 2026 guidance

Adjusted Q4 EPS came in at $3.18, ahead of the $3.16 consensus

2026 EPS guidance of $13.80–$14.00 topped the Street estimate of $13.78

Board approved a $2.5B share buyback, including $550M in accelerated repurchases

Company completed Worldpay acquisition and Issuer Solutions divestiture in Q4

Global Payments stock had a standout Wednesday, jumping nearly 17% to close at $81.27 after the company posted a Q4 earnings beat and issued guidance that left analysts’ estimates in the dust.

$GPN Global Payments +10% pre-market on earnings crush!

Q4 adj EPS $3.18 (beat $3.16 est), rev $2.32B (meet).

Dropped bullish 2026 guide: $13.80–$14 adj EPS (above ~$13.58 consensus), 5% adj net rev growth.

CEO Bready: "We continue to expect to return $7.5 billion of capital… pic.twitter.com/rvUqNDE3tN

— WSB News (@NewsFromWSB) February 18, 2026

The stock opened sharply higher and held its gains through the session, finishing up $11.50 on the day.

Q4 adjusted EPS came in at $3.18, edging past the $3.16 consensus. That’s up from $2.85 in Q4 2024, though slightly below the $3.26 posted in Q3 2025.

Adjusted net revenue for the quarter was $2.32 billion, matching expectations and up 1% year-over-year.

Buyback and Dividend

The board authorized up to $2.5 billion in share repurchases. Of that, $550 million will be bought back immediately through an accelerated repurchase agreement.

CEO Cameron Bready said the company is on track to return $7.5 billion to shareholders through end of 2027, in line with targets set at the 2024 investor conference.

Global Payments also confirmed a quarterly dividend of $0.25 per share, yielding around 1.2%, payable March 30 to shareholders of record as of March 9. The dividend rate has been consistent since September 2021.

The company expects to return more than $2 billion to shareholders in 2026 through dividends and repurchases combined.

2026 Outlook

Full-year 2026 adjusted EPS guidance came in at $13.80 to $14.00, reflecting 13% to 15% growth over 2025 and clearing the $13.78 analyst consensus.

Constant currency adjusted net revenue is expected to grow around 5%, excluding dispositions, compared with 1.8% growth in 2025. Adjusted operating margin is projected to expand by roughly 150 basis points.

The Q4 adjusted operating margin expanded 80 basis points year-over-year to 44.7%.

Restructuring Complete

The guidance comes after a busy Q4 on the corporate front. Global Payments completed its acquisition of Worldpay and finalized the divestiture of its Issuer Solutions unit to Fidelity National Information Services (FIS), repositioning itself as a pure-play merchant solutions provider.

Issuer Solutions had been classified as discontinued operations since Q2 2025. The segment posted $557.1 million in Q4 adjusted net revenue, up from $530.1 million a year earlier.

Merchant Solutions, now the company’s core segment, generated $1.78 billion in Q4 adjusted net revenue, roughly flat with the year-ago period.

The post Global Payments (GPN) Stock Surges After $2.5B Buyback and Strong 2026 Outlook appeared first on Blockonomi.

TLDR

Liberty Global agreed to buy Vodafone’s 50% stake in VodafoneZiggo for €1.0 billion cash plus a 10% equity stake in a new company called Ziggo Group.

Ziggo Group will combine VodafoneZiggo (Netherlands) and Telenet (Belgium) into one Benelux telecom holding company.

The deal targets €500 million in adjusted free cash flow by 2028 and ~€1 billion in synergies.

Liberty Global plans to list Ziggo Group on Euronext Amsterdam in 2027 and spin off 90% of shares to LBTYA shareholders.

LBTYA stock jumped nearly 17% on the news; deal expected to close in H2 2026.

Liberty Global (LBTYA) stock jumped close to 17% on February 18, 2026, after announcing a deal to acquire Vodafone’s 50% stake in their Dutch joint venture VodafoneZiggo.

Liberty Global agrees to buy out its partner Vodafone Group in Dutch telecommunications company VodafoneZiggo for €1 billion in cash and a stake in a new holding company https://t.co/5OKlq8ycat

— Bloomberg (@business) February 18, 2026

The deal is structured as €1.0 billion in cash plus a 10% equity interest in a newly created holding company, Ziggo Group. That entity will consolidate Liberty Global’s positions in VodafoneZiggo in the Netherlands and Telenet in Belgium.

Both VodafoneZiggo and Telenet will keep their existing brand names and management teams in place after the transaction closes.

Goldman Sachs and LionTree are serving as financial advisers to Liberty Global. The deal is expected to close in the second half of 2026, pending regulatory approvals.

The Numbers Behind the Deal

Ziggo Group is targeting approximately €500 million in adjusted free cash flow by 2028. The company also projects synergies and incremental services worth roughly €1 billion in net present value.

Liberty Global is targeting a reduction in Ziggo Group’s leverage to around 4.5x by 2028, supported by EBITDA growth and asset sales. As part of that effort, it is currently offloading approximately 50% of its stake in Wyre to support Telenet’s deleveraging.

Long-term service agreements between Liberty Global and Vodafone will keep operations aligned through the transition period.

A 2027 IPO in the Works

Liberty Global plans to list Ziggo Group on Euronext Amsterdam in 2027. Following the listing, it intends to spin off 90% of its Ziggo Group shares directly to Liberty Global shareholders, subject to shareholder approval.

That structure gives existing LBTYA investors a direct stake in the new Benelux telecom company once it reaches public markets.

Before the announcement, LBTYA was trading at a Price/Book ratio of just 0.3, according to InvestingPro data. The most recent analyst rating on the stock is a Hold with a $11.50 price target.

Liberty Global’s current market cap stands at approximately $3.7 billion, with average daily trading volume of around 2.2 million shares.

The post Liberty Global (LBTYA) Stock: 17% Surge After Vodafone VodafoneZiggo Stake Purchase appeared first on Blockonomi.

TLDR

GLBE stock surged more than 17% Wednesday after Q4 earnings and guidance topped expectations

Q4 revenue hit $336.7M, up 28% YoY; adjusted EPS of $0.49 vs $0.30 a year ago

Q4 GMV reached $2.36B, up 37.8% YoY; company crossed $1B GMV in a single month for the first time

2026 revenue guidance of $1.21–$1.27B came in above analyst estimates

Free cash flow jumped 68% in 2025 to $280.7M; cash on hand ended at $623M

Global-E Online (GLBE) stock climbed more than 17% Wednesday after the company delivered a strong Q4 2025 earnings report and issued 2026 guidance that cleared Wall Street’s bar.

Global-e (#GLBE)$GLBE, Q4-25.

Results:
Adj. EPS: $0.50
Revenue: $336.7M
Net Income: $62.5M
Record Q4 performance with 38% GMV growth and 53% increase in Adjusted EBITDA, driving strong margin expansion and free cash flow generation. pic.twitter.com/sZKYctZ8dc

— EarningsTime (@Earnings_Time) February 18, 2026

Q4 revenue came in at $336.7 million, up 28% from a year ago. Adjusted EPS rose to $0.49 from $0.30 in the year-prior period. Both figures beat analyst estimates.

GMV reached $2.36 billion in Q4, up 37.8% year-over-year. In November, the company crossed $1 billion in GMV in a single month — a first in its history.

Full-year 2025 revenue grew 28% to $962 million. Full-year GMV rose 35% to $6.57 billion.

CEO Amir Schlachet pointed to the company’s pipeline as reason for confidence heading into 2026. “We are excited about the opportunities and the pipeline that we see ahead of us, as is evident from our 2026 outlook,” he said.

Profitability and Cash Flow Hit New Highs

Q4 non-GAAP gross margin improved to 46.8%, up roughly 80 basis points year-over-year. Adjusted EBITDA grew 53% to $87.2 million, with a 25.9% margin.

For the full year, adjusted EBITDA rose 41% to $198.5 million. Global-E also achieved full-year GAAP profitability, reporting GAAP EPS of $0.39.

Free cash flow surged 68% to $280.7 million for the full year. The company ended 2025 with $623 million in cash and bought back $72 million in shares during Q4, retiring 1.8 million shares. Another $128 million remains under the buyback authorization.

Merchant retention stayed strong, with net dollar retention at 122% and gross dollar retention at 96%.

2026 Guidance Tops Estimates

Management guided for full-year 2026 revenue of $1.21–$1.27 billion — the first time Global-E expects to exceed $1 billion in annual sales — along with GMV of $8.45–$8.80 billion and adjusted EBITDA of $259–$284 million.

For Q1 2026, the company guided for revenue of $247–$254 million and GMV of $1.705–$1.745 billion, both above prior consensus.

Management did flag some near-term risks. Tariff changes and the removal of EU de minimis thresholds are creating short-term pressure on volumes. FX tailwinds and strong same-store sales boosted Q4, but the 2026 outlook assumes both normalize. The Shopify Managed Markets v2 rollout is still early-stage and could weigh on near-term growth before turning into a tailwind.

Q1 2026 guidance calls for revenue of $247–$254 million and adjusted EBITDA of $46.5–$49.5 million.

The post Global-E Online (GLBE) Stock: Q4 Earnings Just Sent Shares Flying — Here’s the Breakdown appeared first on Blockonomi.