Blockonomi

Key Takeaways
Electronics retailer delivered 7% group like-for-like revenue growth over 17 weeks ending August 29
UK and Ireland division achieved 6% growth, while Nordic operations surged 9%, with market share expanding across key product lines
Management reaffirmed full-year outlook, stating comfort with existing market consensus forecasts
Shares dropped 1.3% during early London session despite positive trading performance
Both Panmure Liberum and Peel Hunt reaffirmed Buy recommendations, targeting 200p and 182p per share
Shares of Currys (CURY) declined 1.3% during Wednesday’s early trading session in London, settling at 146.40p, despite the electronics and appliance retailer unveiling robust trading figures that showed 7% group like-for-like sales advancement for the 17-week period concluding August 29.
The company’s UK and Ireland operations generated 6% like-for-like expansion, while its Nordic territories demonstrated even more impressive momentum with 9% growth. Leadership indicated satisfaction with prevailing market expectations and maintained existing full-year projections without adjustment.
Across the UK and Ireland, expansion was evident in both physical retail locations and digital channels. Emerging product categories and corporate sales channels registered double-digit percentage increases. The retailer also highlighted competitive position improvements across all primary product segments, despite an overall stagnant market environment.
The company attributed approximately 2 percentage points of market uplift to the World Cup tournament and unseasonably warm summer weather conditions.
Subscription-based Services revenue maintained its upward trajectory. Flexpay penetration increased by 30 basis points compared to the prior year, reaching 23.6%, while iD Mobile customer base expanded 16% to exceed 2.7 million subscribers.
Nordic performance was powered by white goods and mobile phone categories, with widespread momentum across both retail formats. The region also captured market share in most territories, although year-over-year comparisons were relatively easy.
Management characterized gross margin performance as steady in both geographic segments, underpinned by disciplined expense management.
Share Repurchase Update and Financial Position
Currys verified that its £50 million share repurchase program is progressing, with £23 million executed to date. The retailer now anticipates year-end net cash substantially exceeding its £100 million benchmark.
Management outlined objectives for sustained expansion in higher-margin recurring Services operations, establishing a target of reaching a minimum of 2.8 million iD Mobile customers by fiscal year-end.
Wall Street and City Analyst Perspectives
Citi analysts anticipated a “materially positive share price reaction” following the announcement, pointing to robust trading metrics and confirmed guidance. The investment bank noted that shares had underperformed leading up to the release, which it viewed as a potential catalyst for recovery.
Panmure Liberum, serving as the company’s corporate broker, maintained its Buy stance with a 200p price objective. Analysts highlighted that the encouraging year opening established “meaningful upgrade potential” given the organization’s substantial operational leverage.
The brokerage calculated that each one percentage point improvement in like-for-like revenues across UK, Ireland and Nordic markets contributes approximately £12.5 million to consolidated profit, representing roughly 6.5% of fiscal 2026 adjusted pre-tax earnings.
Peel Hunt similarly preserved its Buy recommendation, maintaining a 182p target. The firm indicated expectations to implement an earnings forecast revision ranging from 1% to 3% upward.
Peel Hunt emphasized caution by noting that the initial half of the fiscal year conventionally represents merely 10% to 15% of annual profitability. Consequently, a successful peak holiday shopping period will prove essential before analysts embrace more substantial estimate increases.
From a valuation perspective, the equity trades at below 10 times projected earnings. Panmure Liberum calculated the 2027 price-to-earnings ratio at 10.3 times.
The post Currys (CURY) Stock Drops Despite Strong 7% Sales Growth – What’s Behind the Decline? appeared first on Blockonomi.

Key Takeaways
Q4 like-for-like sales at Primark projected to decline 3%, with continental European markets falling 4.3%
Shares of ABF plummeted more than 9% during early Thursday trading in London
Sugar division adjusted operating loss forecast widened to £70 million to £170 million for 2027
Full-year adjusted earnings per share anticipated to exceed prior forecasts
Primark’s Great Britain home delivery service announced, while planned separation of Retail and Food divisions proceeds toward December 2027 target
Associated British Foods stock plummeted over 9% during Thursday’s early London trading session following a quarterly trading statement indicating Primark’s like-for-like sales are projected to decline 3% in the period concluding September 12.
Shares were changing hands around 1,854p, significantly beneath the 52-week peak of 2,351p.
The performance weakness was primarily concentrated across continental European markets, which registered a 4.3% LFL sales contraction. While the UK and Ireland delivered a marginal 0.4% increase, this growth proved insufficient to counterbalance the wider European downturn.
Analysts at Jefferies offered a blunt assessment, characterizing the performance as “a muted end to the year for Primark led by underwhelming Europe sales” and labeling the company’s forward guidance as “a downbeat outlook for the stock this morning.”
Notwithstanding the LFL contraction, Primark’s overall sales are anticipated to expand approximately 2% across the full fiscal year. Store expansion initiatives and the franchise business model delivered roughly 5% to overall growth. Primark’s adjusted operating margin is still projected to reach approximately 10%.
The U.S. market delivered positive momentum. Revenue increased approximately 11% during the quarter as Primark’s American footprint expanded to 47 locations nationwide. Franchise operations throughout the Gulf region also demonstrated robust performance, with expansion initiatives planned for Saudi Arabia and Mexico.
Food Division Compounds Challenges
Across the Food division, Grocery adjusted operating profit is anticipated to fall marginally short of earlier projections. Subdued consumer demand for Twinings tea products, attributed to an unusually prolonged period of warm weather, was identified as the principal factor.
The Sugar segment is now tracking toward the upper boundary of its £25 million to £60 million adjusted operating loss projection for 2026, driven by elevated natural gas expenses and depressed European sugar market prices. The Ingredients division’s profit is anticipated to align with previous forecasts.
Extending the outlook window, ABF provided preliminary guidance for 2027 that struck a cautious tone. The Sugar division’s adjusted operating loss is projected at £70 million to £170 million, representing a considerably broader range that accounts for potential headwinds including elevated gas costs and adverse weather conditions affecting African operations.
Grocery profitability is forecast to edge slightly above 2026 levels, notwithstanding a one-time impact associated with consolidating the recently acquired Hovis business. The Agriculture division’s profit is expected to show year-over-year improvement.
Broader Market Context
ABF’s stock wasn’t alone in facing selling pressure Thursday. The FTSE 100 index dropped to its lowest level in seven weeks as intensifying tensions between the United States and Iran pushed Brent crude pricing above $100 per barrel, creating broader market headwinds that compounded ABF’s company-specific challenges.
Full-year adjusted earnings per share is now forecast to surpass earlier guidance, providing a modest counterbalance to the otherwise pessimistic update.
The company officially confirmed plans to roll out Primark home delivery services throughout Great Britain, supported by a recently acquired automated fulfillment center in Sheffield.
The anticipated separation of the Retail business from the Food division continues to progress according to schedule, with completion targeted for December 2027.
Complete annual results are slated for release on November 3.
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Key Highlights
Taiwan Semiconductor achieved record August sales of T$514.8 billion ($16.35 billion), representing a 53.3% annual increase
Monthly revenue jumped 10.1% compared to July, extending the growth streak to four consecutive months
Eight-month cumulative revenue reached T$3.38 trillion, demonstrating 39.3% growth versus prior year
The foundry giant commands 72.5% of the worldwide contract chipmaking market as of second quarter, according to TrendForce
TSMC announced plans to implement ASML’s High NA manufacturing technology for high-volume production beginning in 2030
Taiwan Semiconductor Manufacturing Company announced unprecedented monthly sales figures for August, propelled by relentless demand for semiconductors powering artificial intelligence systems.
$TSM reported Aug. revenue of $16.3B, up 53.3% YoY
TSMC says it still can’t meet demand even while working on roughly 20 fabs simultaneously, around 4-5x its historical pace, with chipmaking tool needs nearly doubling since the end of last year. pic.twitter.com/HwvzcmUUVW
— Wall St Engine (@wallstengine) September 10, 2026
The planet’s premier contract semiconductor manufacturer delivered revenue of T$514.8 billion ($16.35 billion) during August, representing a 53.3% surge compared to the equivalent period last year. Sales additionally increased 10.1% versus the previous month.
TSM shares finished Thursday’s trading session down 0.61% prior to the revenue announcement.
The results represent the fourth straight month where the Taiwan-based semiconductor producer has registered sequential revenue expansion.
Cumulative revenue for the first eight months of the year totaled T$3.38 trillion, reflecting 39.3% growth when measured against the corresponding timeframe in 2025.
Artificial Intelligence Applications Drive Full Capacity Utilization
Strong customer appetite for TSMC’s cutting-edge manufacturing nodes has served as the primary catalyst. Production capacity for the company’s 5-nanometer, 4-nanometer, and 3-nanometer processes operated at maximum utilization throughout the second quarter, based on data from research organization TrendForce.
In its July quarterly results presentation, Taiwan Semiconductor characterized AI-driven demand as “extremely robust.” The semiconductor manufacturer disclosed a 77% year-over-year profit increase for Q2 and projected third-quarter sales ranging from $44.6 billion to $45.8 billion.
The chipmaker’s leading-edge manufacturing capabilities remain highly sought after largely due to its position as a principal supplier to Nvidia, which continues accelerating production volumes of its artificial intelligence chips.
Robust market conditions have enabled Taiwan Semiconductor to implement price increases for its contract manufacturing services while simultaneously pursuing aggressive capacity expansion initiatives.
TSMC’s share price has doubled during the trailing twelve-month period and has multiplied sixfold since the end of 2022.
Commanding Position in Worldwide Foundry Industry
Taiwan Semiconductor captured 72.5% of global foundry market share during the second quarter, based on TrendForce analysis. Samsung Foundry secured the second position with 5.9%, while China-based SMIC claimed 5.4%.
The industry’s leading ten foundry operators collectively generated record quarterly revenue approaching $53.49 billion in Q2, partially attributed to constrained supply availability for advanced manufacturing processes linked to AI applications and high-performance computing requirements.
Earlier this week, Taiwan Semiconductor and Netherlands-based semiconductor equipment manufacturer ASML unveiled a collaborative effort to develop next-generation chipmaking capabilities. TSMC confirmed its intention to deploy ASML’s High NA technology for volume production of advanced nodes commencing in 2030.
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TLDR
NVIDIA and Palantir launch an AI system for complex global supply chain operations.
The partnership starts with NVIDIA’s own manufacturing and logistics network.
Palantir Foundry will integrate NVIDIA models for faster supply chain decisions.
The system targets shortages, allocation choices, and production bottlenecks.
Companies can deploy the platform on premises, in the cloud, or co-location.
NVIDIA and Palantir have partnered to improve global supply chain management using enterprise artificial intelligence systems. The companies will begin the collaboration with NVIDIA’s own operations before expanding the technology across other industries. Meanwhile, NVIDIA stock traded at $223.37, down 0.14% in Thursday pre-market trading.
NVIDIA Corporation, NVDA
NVIDIA and Palantir Build Supply Chain System
Palantir will integrate NVIDIA Nemotron models with its Foundry and Artificial Intelligence Platform for supply chain operations. The system will combine operational data with Palantir’s Ontology to improve visibility across manufacturing and logistics networks. Consequently, teams can identify production constraints and make faster allocation decisions across complex supply chains.
NVIDIA manages millions of parts, thousands of suppliers, and manufacturing partners across several global markets. Its infrastructure requires coordinated supplies of computing components, memory, networking equipment, cooling systems, power, and mechanical parts. Therefore, the partnership targets one of NVIDIA’s most complicated operational challenges as demand for computing infrastructure continues growing.
The companies will initially focus on materials allocation and production planning across NVIDIA’s supply network. Teams can use the system to identify shortages earlier and compare alternative production decisions more efficiently. Moreover, the platform can connect allocation choices with their wider effects across production and delivery operations.
NVIDIA Uses Custom Models for Operational Decisions
Companies using Palantir can customize NVIDIA models with their own operational information through Foundry and AIP. Businesses can then create systems that reflect their suppliers, production limits, delivery requirements, and internal decision processes. This approach also allows companies to maintain control over their operational data and deployment environments.
NVIDIA cuOpt software will support optimization and scenario planning within the Palantir platform. Teams can model supply restrictions, compare allocation choices, and measure potential effects across different production stages. Meanwhile, specialized models can recommend actions and identify emerging operational risks before teams make final decisions.
The system can also learn from previous recommendations and completed production outcomes. Palantir Autopilot will connect operational feedback with NVIDIA model development tools to support continued improvements. As a result, companies can preserve operational knowledge while measuring decisions against actual supply chain performance.
Partnership Targets Wider Enterprise Supply Chains
NVIDIA and Palantir plan to apply lessons from the initial deployment across several major industries. Manufacturing, healthcare, energy, automotive, aerospace, agriculture, pharmaceuticals, retail, and government organizations could adopt similar systems. These deployments could help companies connect fragmented data and improve responses to supply disruptions.
The companies designed the infrastructure to support organizations that require tighter control over sensitive business information. NVIDIA reference architectures will support deployments alongside Palantir’s sovereign enterprise infrastructure framework. Dell Technologies and Cisco also support the architecture for enterprise environments requiring locally controlled infrastructure.
Companies can deploy the system through on-premises infrastructure, cloud platforms, or co-location environments depending on operational requirements. Cisco and Dell can support local deployments, while Rackspace and Nebius can provide external infrastructure options. Therefore, the partnership gives enterprises several deployment choices while keeping supply chain data within their preferred operating environments.

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TLDR
Vitalik Buterin is backing EIP-8288 for Ethereum’s next upgrade, called I-Star.
The proposal uses recursive STARK aggregation to bundle cryptographic proofs together.
Quantum-safe private transactions could drop from millions of gas to tens of thousands.
The Ethereum Foundation is targeting full quantum resistance by December 2029.
EIP-8288 is still a draft and has not been added to Ethereum’s live protocol.
Ethereum co-founder Vitalik Buterin has thrown his support behind a new proposal called EIP-8288. He wants it included in Ethereum’s next major upgrade, known as I-Star.
Buterin shared his support in a post on X. He said he hopes EIP-8288 can be included in I-Star, the fork that follows Hegota.
A note on recursive STARK mempools (EIP-8288) https://t.co/KGUHKCcFqf
This is an EIP that I am hoping we can get included in I-star (the fork after Hegota) that you can think of as the next step after Frames, that would unlock extreme amounts of power. Particularly:
*…
— vitalik.eth (@VitalikButerin) September 9, 2026
He described the proposal as the next logical step after Frames, an earlier upgrade concept. The comment gave fresh attention to a proposal that had been sitting in draft form.
The timing lines up with a broader push at the Ethereum Foundation. On September 7, the Foundation said it is aiming for quantum resistance across Ethereum’s execution, consensus, and data layers by December 2029.
The Foundation called this deadline non-negotiable, at least until January 2027. That language signals how seriously the organization is treating the quantum computing threat.
Quantum computers do not exist yet at the scale needed to break current cryptography. But Ethereum developers want protections in place before that changes.
How Recursive STARKs Would Cut Costs
EIP-8288 proposes a system where transactions use lightweight dependency frames. These frames carry information about signatures or proofs instead of the full cryptographic data.
Rather than verifying each cryptographic object one by one on-chain, Ethereum’s mempool could bundle these dependencies into a single recursive STARK. This means one proof would represent many transactions at once.
Buterin argues this could sharply lower the cost of quantum-safe applications. Quantum-safe private transactions, which currently cost around 10 million gas, could potentially fall to the low tens of thousands.
The proposal could also let new signature and proof schemes work on Ethereum without needing separate changes to the Ethereum Virtual Machine for each one. That would make it easier to add new cryptographic tools over time.
Changes to Ethereum’s Mempool
Under the proposed design, mempool nodes would collect transaction dependencies and generate recursive STARK proofs. A block builder would then create one proof that covers every dependency for the transactions included in that block.
The EIP text states that a block would contain a single recursive STARK proving those dependencies exist. This replaces a system where all user-submitted signatures and STARKs are stored directly in the block.
The proposal also outlines dependency data using 96-byte statements. These statements connect to a recursive STARK generated at the block level.
This structure is meant to keep block sizes smaller while still supporting quantum-resistant cryptography. It shifts heavy verification work away from individual transactions.
EIP-8288 remains in draft stage. It has not been implemented in Ethereum’s live protocol, and no date has been set for that to happen.
Its future depends on more research, testing, and whether developers agree to include it in I-Star or a later upgrade. The Ethereum Foundation’s quantum resistance timeline gives the proposal a broader deadline to work toward, but EIP-8288 itself has not been finalized or scheduled.
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TLDR
Crypto perpetual contracts implied a $2.12 trillion valuation for the private AI company Anthropic on September 9.
Binance’s ANTHROPIC/USDT contract uses an assumed 1 billion share count to calculate that figure.
Anthropic’s last private funding round, closed in May, valued the company at $965 billion.
Anthropic has warned that unauthorized investment structures, including SPVs, may leave investors with nothing.
OpenAI’s pre-IPO contracts implied a valuation near $1.58 trillion on the same day.
Anthropic has no public stock. It hasn’t filed for an IPO. Yet on September 9, crypto traders pushed the implied value of the Claude maker past $2 trillion through a type of contract called a pre-IPO perpetual.
Data from Defillama showed Binance’s ANTHROPIC/USDT contract trading near $2,120. Binance calculates the company’s implied worth by multiplying that price by an assumed 1 billion shares outstanding.
That math produces a figure of roughly $2.12 trillion. Similar contracts on Bitget, Kraken, BingX, Aster, and Coinbase International traded in the same range.
These contracts settle in tether, not company shares. They let traders bet on where Anthropic might eventually be valued, without giving anyone actual ownership.
How the Number Compares to Reality
The $2.12 trillion figure is more than double Anthropic’s last negotiated private valuation. Investors valued the company at $965 billion after a $65 billion Series H round closed on May 28.
Prices have swung a lot since then. In late August, the same Binance contract traded between $1,600 and $1,840, implying $1.6 trillion to $1.84 trillion in value.
A separate market on Hyperliquid briefly topped $2 trillion in late August before settling near $1.97 trillion. OKX runs a similar contract using a 10 billion share assumption, which produces a lower price per unit but a similar overall company value.
None of these numbers come from Anthropic. Binance states the share estimate is informational only and not endorsed by the company.
Anthropic Pushes Back on Token Structures
A separate product called Prestocks issues an ANTHROPIC token on Solana through a special-purpose vehicle, or SPV. On September 9, the token traded between $961 and $973, with an implied valuation near $1.59 trillion.
Anthropic has objected to this setup. In May, the company said it does not allow SPVs to acquire its stock and that any transfers into one are void.
Anthropic added that tokenized securities and forward contracts tied to its shares may carry no real value. Prestocks tokens dropped between 34% and 45% after that statement.
Traders still have reasons to watch the numbers closely. Anthropic’s valuation rose from $380 billion in February to $965 billion in May.
The company’s annualized revenue run-rate was reported near $47 billion at the Series H close. That figure reportedly grew to around $65 billion by the end of July.
Bankers and investors have discussed a future listing somewhere between $1.5 trillion and $2 trillion. Trading volume on these contracts remains small, with combined open interest across the largest markets only in the tens of millions of dollars.
OpenAI faces a similar situation. Its OPENAI/USDT contract traded around $1,578 on Binance on September 9, while Kraken showed a price of $1,604.
Binance says it will adjust the ANTHROPIC contract if Anthropic’s eventual S-1 filing shows a share count that differs from its estimate by 3% or more. Until Anthropic actually goes public, the $2 trillion figure remains a crypto market bet rather than a price the company has confirmed.
The post Anthropic Has No Stock, But Crypto Markets Price It at $2 Trillion appeared first on Blockonomi.

TLDR
Wintermute received 2.5 million LAPTOP tokens from the token team.
The firm sold 466,255 tokens for about $2.08 million at an average price of $4.47.
The sale equals roughly 18.7% of Wintermute’s reported allocation.
LAPTOP launched September 9 on Coinbase’s Base network.
Wintermute still holds about 2.03 million tokens after the sale.
Wintermute has sold a portion of its LAPTOP token holdings on-chain, according to blockchain analytics firm Lookonchain. The sale has drawn attention because it involves a large market-making allocation tied to a newly launched meme coin.
Lookonchain reported that Wintermute received 2.5 million LAPTOP tokens directly from the token team. The firm then began selling a portion of those tokens on the open market.
As of the latest data, Wintermute has sold 466,255 LAPTOP tokens. The sale brought in approximately $2.08 million at an average price of $4.47 per token.
That amount equals roughly 18.7% of Wintermute’s total reported allocation. The firm still holds about 2.03 million LAPTOP tokens.
The data comes from on-chain tracking tools including Arkham, which monitors wallet activity across public blockchains. These figures confirm the sales took place but do not reveal Wintermute’s full trading strategy.
How LAPTOP Launched
LAPTOP launched on September 9 on Base, the blockchain network built by Coinbase. The launch was first reported by The Wall Street Journal.
The token carries a total supply of one billion. According to the report, 30% of the supply was set aside for founders.
Another 20% was allocated to people affected by failed meme coins and followers of the project. The remaining tokens were split between liquidity, charity and administrative costs.
Base describes itself as an open and permissionless blockchain. Tokens and applications built on the network operate independently from Coinbase.
This means LAPTOP’s presence on Base is not an endorsement from Coinbase. The token’s political branding has also made public sentiment a bigger price driver than typical project fundamentals.
What the Sale Means for Holders
Market makers like Wintermute often receive token allocations to support liquidity. Selling tokens does not automatically signal a negative view of a project.
Lookonchain also reported that Wintermute may not be the only market maker involved. GSR Markets and G20 were named as other possible participants supporting the token.
Still, confirmed sales can add pressure to a token’s price when liquidity is limited. This is especially true in the days right after a launch.
Wintermute’s remaining 2.03 million tokens represent a possible future supply overhang. If demand slows while more tokens enter circulation, the price could face added pressure.
A single wallet transfer does not prove every token will be sold immediately. Market makers often hold inventory for hedging or trade execution rather than pure selling.
Traders watching LAPTOP will likely track further wallet movement in the coming days. Additional transfers from Wintermute or other allocated wallets could offer more clues about supply trends.
As of the latest report, Wintermute’s confirmed sale stands at 466,255 LAPTOP tokens worth about $2.08 million, with roughly 2.03 million tokens still held by the firm.
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Key Takeaways
European equity markets traded sideways Thursday following a 1.4% decline in the previous session
Market consensus points to a 25 basis point ECB rate increase, pushing the key rate to 2.5%
Brent crude oil remained above the $100 threshold, intensifying inflation concerns
Associated British Foods shares plummeted nearly 12% following disappointing Primark performance
Critical U.S. inflation reports scheduled for Thursday and Friday may influence Federal Reserve policy outlook
European shares consolidated on Thursday following their steepest decline in eight weeks. Market participants positioned themselves ahead of the European Central Bank’s monetary policy announcement scheduled for later in the trading session.
The benchmark STOXX 600 index hovered around 639.79 points with minimal movement. The previous day saw the index retreat 1.4% amid a rally in crude oil prices.
EURO STOXX 50 I (^STOXX50E)
Brent crude futures broke through the $100 per barrel threshold for the first time since July. The energy price surge reignited worries about persistent inflation and prompted market participants to reconsider the duration of restrictive monetary policy from major central banks.
Analysts anticipated the ECB would implement a 25 basis point increase to its benchmark interest rate, elevating it to 2.5%. The policy statement was scheduled for release at 12:15 GMT, with ECB President Christine Lagarde’s press briefing following at 12:45 GMT.
Investors were particularly focused on Lagarde’s forward guidance regarding the inflation trajectory. The critical consideration was whether central bank officials would indicate additional rate increases or adopt a more cautious, data-dependent posture.
“The forward guidance will be under the microscope, specifically whether the ECB adopts a wait-and-see approach or leaves the door open for another increase,” commented Susannah Streeter, chief investment strategist at Wealth Club in London.
Interest rate derivatives suggested market expectations of one additional rate increase before year-end and potentially one to two further moves in 2027.
Energy and Financial Sectors Lead Gains
The European energy index advanced 0.3%, benefiting from sustained elevated crude prices. Escalating tensions between Iran and the United States, marked by their most significant shipping attacks in six months of hostilities, contributed to upward pressure on oil markets.
Banking stocks delivered solid performance. Societe Generale climbed approximately 1.6%, Deutsche Bank advanced 1.3%, while Banco Santander posted a 0.7% gain.
Technology and Retail Stocks Face Headwinds
The technology sector encountered selling pressure. ASML declined 1.1% while SAP retreated approximately 3%, ranking among the session’s notable underperformers.
Associated British Foods emerged as the day’s most significant decliner. The company’s stock plunged nearly 12%, heading toward its worst single-session performance since January. The sharp selloff followed disappointing sales figures from Primark, its discount fashion retail division.
D’Ieteren ranked among the STOXX 600’s top performers, surging nearly 5%. The Belgian holding company disclosed improved first-half earnings and announced the appointment of a new chief executive officer.
German inflation figures registered 2.9% for August, matching economist expectations.
U.S. producer price index data was scheduled for release Thursday, followed by consumer price data on Friday. Market pricing reflected a 62% probability of a 25 basis point rate hike from the Federal Reserve at its September 15-16 policy meeting.
The ECB’s rate announcement and Lagarde’s subsequent commentary remained the primary catalyst for European markets throughout the trading day.
The post ECB Interest Rate Announcement: Impact on European Stock Markets appeared first on Blockonomi.

TLDR
Block has applied to the OCC to charter Builders Bank & Trust, a national trust bank focused on digital asset custody.
The proposed bank would hold Bitcoin and stablecoins for customers under federal oversight.
Builders Bank would not accept deposits and would not carry FDIC insurance.
Lee Woolley, Block’s digital assets strategy head, is expected to lead the bank if it gets approved.
A national charter would give Block one federal framework instead of separate state rules.
Block, the fintech company started by Jack Dorsey and Jim McKelvey, has asked the Office of the Comptroller of the Currency for permission to open a new bank. The bank would be called Builders Bank & Trust, N.A.
The goal of the new bank is narrow. It would focus on custody and fiduciary services for digital assets rather than everyday banking.
Block filed its application with the OCC to get this process started. If approved, the bank would operate under a national trust bank charter.
That kind of charter matters because it sets one federal standard for the bank’s operations. Block would not need to follow a patchwork of different state rules.
What Builders Bank Would Do
Builders Bank would center on custody services for digital assets like Bitcoin and stablecoins. Custody means holding and safeguarding these assets on behalf of clients.
This service can be useful for firms or individuals who want a regulated place to store cryptocurrency. Block has said the bank would be a non-bank institution.
That means Builders Bank would not accept customer deposits. It also would not offer FDIC insured accounts like a traditional bank.
Instead, its work would be limited to custody, fiduciary duties, and other trust related activities allowed under its charter. This sets it apart from a regular commercial bank.
Who Would Lead the Bank
Lee Woolley is expected to lead Builders Bank if the OCC approves the plan. Woolley currently serves as Block’s head of digital assets strategy.
He has more than twenty years of experience in banking and financial services. Block believes this background fits well with the goals of the new bank.
Woolley pointed to Block’s experience in digital assets and its work through Square Financial Services. He said this combination gives Builders Bank a strong foundation.
He also said the bank is meant to support Block’s broader plans in the digital asset space.
Block already has some experience working in regulated finance. The company operates Square Financial Services, which has given it exposure to banking rules and oversight.
At the same time, Block has kept building out its digital asset work. Bitcoin remains a central part of the company’s crypto strategy.
Stablecoins have also drawn more attention across the financial industry. Many firms see them as useful tools for payments and settlement on blockchain networks.
A national trust charter would let Block expand its custody services under one regulator. This could support the company’s larger digital asset plans going forward.
The application is now in the hands of the OCC. Regulators will review whether Builders Bank meets the requirements for a national trust bank charter.
Builders Bank would remain different from a standard bank throughout this process. It would not take deposits or offer deposit insurance under the current proposal.
Its permitted activities would stay limited to custody, fiduciary work, and related trust services. No timeline has been given for when the OCC will make its decision.
The application marks the most recent step in Block’s push into regulated digital asset services, with final approval still pending from the OCC.
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TLDR
A federal jury convicted Jihoon Park, 52, of Chantilly, Virginia, on three counts of wire fraud and two counts of bankruptcy fraud.
Park stole more than $2.5 million from investors who trusted him with their savings and retirement money.
He used stolen funds to buy a house and cryptocurrency for himself.
Park later hid his crypto holdings and claimed only $0.34 in assets during bankruptcy proceedings.
He is scheduled to be sentenced on December 10, 2026, and faces up to 20 years in prison.
A federal jury in Alexandria, Virginia convicted Jihoon Park on September 8 for running a fraud scheme against investors and a U.S. Bankruptcy Court. Park, 52, is from Chantilly, Virginia.
Prosecutors said Park convinced people in his community to hand over their money for investing. He used personal relationships and his past ties to a large national financial institution to build trust with victims.
Park told investors their money would be safe and would earn high returns. According to the Justice Department, none of that was true.
Instead, Park took more than $2.5 million from multiple victims and used it for himself. He spent the stolen funds on a house and on cryptocurrency purchases.
Assistant Attorney General A. Tysen Duva said Park’s actions caused financial harm to families who trusted him with their life savings and retirement funds.
How the Fraud Was Uncovered
The scheme started to unravel after one victim filed a lawsuit against Park. In response, Park moved assets to his wife’s name.
He also hid millions of dollars worth of cryptocurrency before filing for bankruptcy protection. Prosecutors said this was done to avoid repaying the people he had defrauded.
When Park filed his bankruptcy paperwork, he claimed to have only $0.34 in financial assets. He also denied owning any cryptocurrency at all.
Court records show that one investor gave Park a $300,000 check in August 2024. The next month, Park bought a house in Chantilly for about $1.2 million, using a $700,000 down payment that included part of that investor’s money.
Court Proceedings and Sentencing
Park’s Chapter 7 bankruptcy case began in January 2025 in the Eastern District of Virginia. A bankruptcy trustee later tried to recover the down payment or reverse the property transfer.
The investor who gave Park the $300,000 also tried to claim an interest in the house. Chief U.S. Bankruptcy Judge Brian F. Kenney ruled against that claim, saying the trustee’s authority to recover the funds came first.
Court records also show Park gave up his right to a bankruptcy discharge. That step usually protects a debtor from having to personally repay certain debts.
The jury convicted Park on three counts of wire fraud and two counts of bankruptcy fraud. Each wire fraud count carries a maximum sentence of 20 years in prison.
Each bankruptcy fraud count carries a maximum sentence of five years. A judge will decide the final sentence after reviewing federal sentencing guidelines.
The FBI’s Washington Field Office investigated the case. Trial attorneys from the Justice Department’s Criminal Division are prosecuting it, with help from federal prosecutors in the Eastern District of Virginia.
Park is scheduled to be sentenced on December 10, 2026.
The post Federal Jury Convicts Virginia Investor for Fraud and Hidden Crypto Holdings appeared first on Blockonomi.

Key Highlights
Series D funding of $3 billion secured by The Boring Company
Company valuation reaches $23 billion, a significant increase from $5.7 billion in 2022
UAE-affiliated entities spearheaded the investment round, with participation from Sequoia Capital, Andreessen Horowitz, and Temasek
Capital earmarked for tunnel construction across Las Vegas, Nashville, and Dubai
UAE collaboration may result in over 150 km of subterranean transport infrastructure
The Boring Company, Elon Musk’s infrastructure venture focused on underground transportation, has successfully closed a $3 billion financing round. This Series D investment positions the company at a $23 billion valuation.
Congrats Boring Company team! https://t.co/eFhhZfKmu8
— Elon Musk (@elonmusk) September 10, 2026
Investment leadership came from the United Arab Emirates alongside associated investment vehicles. The funding syndicate also featured prominent names like Sequoia Capital, Andreessen Horowitz, Temasek, Vy Capital, Human Capital, Valor Equity Partners, Shamal Holding, and Baron Capital.
The fresh capital injection will fuel the company’s ambitions to broaden its subterranean transit infrastructure. Active development initiatives are underway in Las Vegas, Nashville, and Dubai.
Middle East Investment Powers Valuation Surge
The United Arab Emirates has emerged as a critical strategic partner in this funding milestone. The collaboration envisions constructing upwards of 150 kilometers of tunnel infrastructure throughout UAE territories.
In the previous year, The Boring Company formalized a preliminary framework with Dubai’s Roads and Transport Authority for the Dubai Loop initiative. This ambitious undertaking aims to create a rapid underground mobility system beneath the metropolitan area.
The current valuation represents a dramatic escalation from previous funding benchmarks. During its 2022 financing round, the venture secured $675 million at a $5.7 billion assessment.
This translates to a more than fourfold appreciation in company worth over a four-year timeframe. The fundraising amount itself has similarly expanded by over four times compared to the 2022 capital raise.
Scaling Operations and Engineering Innovation
According to The Boring Company, its operational footprint has evolved from a singular Loop installation to a comprehensive multi-city tunnelling initiative within the last two years.
Current undertakings encompass diverse geological environments, including both soft soil and hard rock substrates. The organization credits its proprietary Prufrock boring machinery and autonomous construction systems with accelerating excavation timelines.
These advanced tunnelling systems are engineered to minimize dependency on conventional launch infrastructure. According to company statements, this approach delivers both cost reductions and expedited project completion.
Workforce expansion is anticipated across engineering disciplines, manufacturing operations, and field activities. However, the company has not disclosed specific hiring targets or employment growth projections.
Musk established The Boring Company approximately in 2016 or 2017, driven by concerns over urban traffic gridlock. The core concept centered on developing tunnel networks capable of facilitating faster urban mobility.
The Las Vegas Loop stands as the organization’s most mature operational deployment. Located beneath the Las Vegas Convention Center, this system has maintained continuous operations for multiple years.
Nashville represents another metropolitan area targeted for Loop system deployment. The company has branded its Nashville initiative as the Music City Loop.
This latest financing milestone positions The Boring Company for accelerated growth in domestic and international markets alike. The UAE partnership marks the company’s most substantial cross-border expansion initiative to date.
The post Boring Company Raises $3B in Massive Funding Round Led by UAE Investors appeared first on Blockonomi.

TLDR
US authorities restrained more than $52 million in crypto tied to Xinbi Guarantee, a Chinese-language scam marketplace run on Telegram.
The DOJ’s Scam Center Strike Force seized two wallets holding about $12 million and sought restraints on 47 more wallets.
The Treasury Department sanctioned Xinbi along with two tech firms, SafeW Technology and Anwen Technology, for supporting the network.
Treasury says Xinbi has processed over $24 billion in crypto and fiat since 2022, used in part by North Korean hackers.
The action follows UK sanctions on Xinbi and comes alongside a Strike Force operation that shut down 13 scam compounds in Madagascar.
United States authorities restrained more than $52 million in cryptocurrency connected to Xinbi Guarantee this week. The action targeted a Chinese-language marketplace that operated through Telegram.
The Department of Justice’s Scam Center Strike Force led the seizure. Officials said Xinbi allowed vendors to sell services to scam center operators.
Those services included building fake investment websites, laundering stolen funds, and recruiting workers for scam compounds in Southeast Asia. Vendors posted their offerings directly in the Telegram channel.
The Strike Force seized two wallets that Xinbi used to collect vendor payments. Those wallets held about $12 million combined.
Law enforcement also sought restraints on 47 additional wallets linked to the laundering network. In total, more than $52 million in crypto was restrained in one day.
A federal court in Washington authorized the seizure of the Telegram channels on September 7. The DOJ credited stablecoin issuer Tether for helping with the investigation.
Treasury Sanctions Xinbi and Its Tech Partners
The Treasury Department’s Office of Foreign Assets Control designated Xinbi as a transnational criminal organization on the same day. Two other firms were also sanctioned for supporting the platform.
Singapore-based SafeW Technology and Cambodia-based Anwen Technology were named for providing technology and financial support. Treasury said Xinbi moved its networks to SafeW’s encrypted messaging app around June 2025 as law enforcement attention grew.
Anwen allegedly built XinbiPay, also called NewPay. This is a crypto wallet and payment app used across the marketplace.
TRM Labs Global Head of Policy Ari Redbord told Cointelegraph that Xinbi filled a gap left by another platform’s shutdown. He said Xinbi became the main escrow and cash-out service for scam compounds in Southeast Asia, moving more than $36 billion.
Treasury said Xinbi has processed over $24 billion in crypto and fiat since around 2022. The department said the platform has been used by North Korean hackers and groups tied to the sanctioned Prince Group.
The sanctions block Xinbi’s property in the US. They also stop US persons from doing business with the three designated entities.
Global Crackdown Expands Beyond the US
This is not the first government to target Xinbi. The UK sanctioned the platform in March, freezing UK assets connected to it.
Those UK sanctions also barred Xinbi from the country’s financial, trade, and travel networks. The US action adds to that pressure.
Separately, the Strike Force sent a team to Madagascar for two weeks. They assisted local authorities in shutting down 13 scam centers run by Chinese organized crime groups.
The team helped process more than 3,200 electronic devices during the operation. Investigators also interviewed nearly 400 people arrested in the raids.
About 30 of those arrested were identified as Chinese leaders of the scam compounds. They were repatriated to China following the operation.
The Strike Force said the total amount of crypto it has restrained since launching in November 2025 now stands at about $938 million.
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Key Takeaways
GE Aerospace has entered an agreement to purchase Consolidated Precision Products (CPP) for $11.75 billion from Warburg and Berkshire Partners.
The acquired company specializes in sophisticated metal castings for jet engine applications and has been a GE partner for more than 15 years, supplying approximately 25% of critical blades and vanes.
CNBC’s Jim Cramer highlighted the defense component of this transaction, predicting it would boost the stock price.
The Defense and Propulsion Technologies division delivered 16% revenue growth to $3.4 billion in Q2 2026, supported by a massive $210 billion backlog.
Wall Street analysts remain optimistic, with Bernstein maintaining an Outperform rating at $421 and Jefferies sustaining a Buy rating with a $455 price target.
GE Aerospace (GE) has unveiled plans to acquire Consolidated Precision Products in an $11.75 billion transaction, strategically bringing a critical component manufacturer under its operational umbrella while reinforcing its defense sector expansion.
Shares of GE closed at $334.91 on the announcement date, reflecting a 21.94% gain over the trailing twelve months. The stock had experienced a 9.5% decline in the preceding month, creating a favorable entry point for the deal-related momentum.
CPP ranks among the world’s premier manufacturers of intricate casting components, producing parts from nickel superalloy, titanium, aluminum, magnesium and steel. Headquartered in Cleveland, Ohio, the company maintains a workforce of approximately 6,600 employees operating from over 20 manufacturing sites worldwide.
Projected revenues for CPP in 2027 are estimated at approximately $2.0 billion. The revenue mix comprises 60% commercial aerospace, 20% defense applications, and 20% power generation and other industrial sectors.
The acquisition represents 18 times CPP’s anticipated 2027 EBITDA after accounting for synergies, or 26 times on a standalone basis. Private equity investors Warburg and Berkshire Partners are divesting this long-term industrial holding.
The partnership between CPP and GE spans over 15 years, during which CPP has manufactured critical components for LEAP, GEnx, T700, F110 and F404 engine platforms. Approximately one-quarter of GE’s blade and vane requirements are currently fulfilled by CPP, positioning this transaction as a vertical integration strategy rather than a diversification play.
During his September 8 Mad Money broadcast, Jim Cramer endorsed the acquisition as “a great acquisition,” emphasizing the defense sector benefits as the primary catalyst. “Everyone’s crazy to see them building up defense,” he remarked.
Defense Operations Power Growth Narrative
GE’s Defense and Propulsion Technologies division generated $3.443 billion in second quarter 2026 revenues, representing a 16% year-over-year increase. Management elevated the full-year operating profit guidance for this segment to a range of $1.6 billion to $1.7 billion.
Key programs such as the XA102 adaptive engine technology, GEK1500 powerplant for lightweight combat platforms, plus F404 procurement contracts from Turkish Aerospace and Hindustan Aeronautics demonstrate substantial pipeline strength. Owning a dedicated castings operation directly supports these initiatives.
Wall Street Maintains Positive Stance
Bernstein reaffirmed its Outperform designation with a $421 price objective on GE shares following the CPP announcement. Jefferies maintained its Buy recommendation with a $455 valuation target.
In a separate development, GE secured a $2.87 billion Department of War contract to deliver logistics support services for F414 engine components deployed in the Navy’s F/A-18 E/F/G fighter fleet.
Within commercial operations, GE’s Commercial Engines and Services segment recorded $9.731 billion in Q2 revenues, climbing 27% year-over-year, with LEAP engine deliveries surging 41% during the first half. The company’s total backlog exceeds $210 billion.
GE’s full-year 2026 outlook calls for adjusted earnings per share between $7.65 and $7.85, alongside free cash flow projections of $8.9 billion to $9.2 billion.
For the second quarter of 2026, GE delivered adjusted EPS of $2.02, surpassing the consensus analyst estimate of $1.8565.
The post GE Aerospace (GE) Stock Surges on $11.75B CPP Acquisition as Defense Segment Booms appeared first on Blockonomi.

Key Takeaways
President Donald Trump announced plans for a $5,000 payment to every American adult contingent on Republican victories in the House and Senate this November
The initiative carries a price tag exceeding $1 trillion, creating substantial questions about financing mechanisms
Legal experts warn the plan could breach federal statutes prohibiting financial incentives tied to electoral outcomes
Historical patterns show Trump’s earlier cash payment commitments, including tariff rebates and DOGE dividends, failed to reach fruition
Current fiscal year deficits are approaching $1.8 trillion, compounding budget concerns
Speaking before enthusiastic supporters at the Republican National Committee’s midterm gathering in Dallas this Wednesday, [[LINK_START_0]]President Donald Trump[[LINK_END_0]] unveiled an ambitious financial pledge: $5,000 direct payments to every adult citizen across America, provided Republicans secure majorities in both congressional chambers come November.
“If the Republicans win the House of Representatives and the United States Senate, both of them… I will issue a dividend to every adult citizen in the United States of America for $5,000,” the president declared to the assembled crowd.
Trump stipulated a single requirement: recipients must use the funds domestically within U.S. borders. The announcement contained no specifics regarding how the administration would finance such an undertaking.
NEW: President Trump makes a major promise at the Republican midterm convention in Dallas: $5,000 for every adult U.S. citizen if Republicans win both the House and Senate in the midterms.
“I will issue a dividend to every adult citizen in the United States of America for… pic.twitter.com/XqiphY7y8a
— Fox News (@FoxNews) September 10, 2026
The Staggering Financial Burden
Implementation of this dividend program would demand an outlay surpassing $1 trillion. To contextualize this figure, federal expenditures already include $1.27 trillion in debt service payments this fiscal year and $1.36 trillion allocated toward defense operations in 2026.
America’s fiscal deficit is tracking toward $1.8 trillion for the current fiscal year. Projections from the Congressional Budget Office anticipate the 2026 full-year deficit will climb to $2.1 trillion.
The debt-to-GDP ratio reached 122.6% during Q1 2026. Federal borrowing expenses have escalated dramatically in recent periods as markets react to inflationary pressures and mounting debt obligations.
Skeptics contend such a dividend would necessitate additional government borrowing rather than reflecting authentic budgetary surpluses or efficiency gains.
Constitutional and Criminal Law Concerns
Beyond fiscal considerations, the proposal confronts potential legal obstacles. Existing federal statutes criminalize providing monetary compensation designed to sway voting behavior. Violators face monetary penalties and potential imprisonment of up to two years for intentional infractions.
CNBC contacted White House representatives seeking clarification on these legal dimensions but has yet to receive official commentary.
The announcement follows recent findings by a bipartisan investigative committee that Elon Musk’s distribution of $1 million payments to voters during the 2025 Wisconsin Supreme Court race likely violated state election laws. That matter has been forwarded to prosecutorial authorities.
A Track Record of Broken Financial Commitments
This isn’t the president’s first foray into promising direct payments to Americans. Earlier in his current term, Trump championed a $5,000 “DOGE dividend” supposedly financed through Department of Government Efficiency cost reductions. That payment never reached American households.
Similarly, he advocated for a $2,000 “tariff rebate” program funded through international trade revenues. This initiative disintegrated following a Supreme Court decision invalidating his tariff framework in early 2026.
During the Covid-19 crisis, federal authorities distributed trillions in stimulus checks to American families. Economic analysts continue debating whether those disbursements fueled the subsequent inflationary wave that gripped the economy.
The GOP confronts significant obstacles in November’s elections. Current polling models favor Democratic control of the House of Representatives. Rising tensions with Iran orchestrated under Trump’s foreign policy approach, combined with elevated gasoline costs, are complicating Republican electoral prospects as the midterm date approaches.
The post Trump’s $5,000 Voter Payment Pledge: A Midterm Promise Under Legal Scrutiny appeared first on Blockonomi.

TLDR
Consensys Software will rebrand as MetaMask, while a new company will take the Consensys name.
Joe Lubin will lead MetaMask as chairman and chief executive, and also serve as executive chairman of the new Consensys.
Mike Kriak becomes chief executive of the new Consensys, with David Cunningham as president.
Linea, Besu and Teku will stay with the new Consensys alongside its institutional blockchain infrastructure work.
The separation is expected to be complete by the end of 2026.
Consensys Software announced on September 9 that it plans to split its business into two separate companies. The move divides its consumer wallet operations from its institutional and protocol work.
The existing legal entity will rebrand as MetaMask. A newly formed company will take on the Consensys name instead.
Joe Lubin will lead MetaMask as chairman and chief executive. He will also serve as executive chairman of the new Consensys.
Mike Kriak will run the new Consensys as chief executive. David Cunningham will serve as president, and Declan Fox will be chief product officer.
Today, Consensys Software Inc. (CSI) is becoming two independent companies.
CSI will continue as the same company and rebrand as MetaMask, operating the MetaMask platform and its consumer-facing products, with Joe Lubin as Chairman and CEO.
CSI’s Protocols Group and…
— Consensys.eth (@Consensys) September 9, 2026
The company says it expects the separation to be finished by the end of 2026. That gives it less than four months to complete the process.
MetaMask to Focus on Consumer Finance
MetaMask will keep the wallet platform and related consumer products. It will continue supporting Ethereum and other blockchain networks.
The company plans to expand into payments, savings, trading and access to traditional financial products. This builds on its existing wallet and token-swap tools.
Consensys says MetaMask has passed 100 million downloads across roughly 190 countries. It also points to trillions of dollars in cumulative transaction volume.
Those numbers come from the company itself. They do not show current active users, revenue or assets currently held in the wallet.
MetaMask recently launched Money Account, a self-custodial product. It combines stablecoin balances, automated earning, trading and spending in one place.
New Consensys Will Serve Institutions
The new Consensys will take over the Protocols Group and the institutional blockchain infrastructure business. That includes Linea, the Besu Ethereum execution client and Teku, an Ethereum consensus client used by validators.
The company says it will focus on tokenization, stablecoins, programmable settlement and private blockchain infrastructure for financial institutions. It also plans to keep contributing to Ethereum and related protocols.
Consensys has not said how assets, intellectual property, employees or liabilities will be split between the two companies. It also has not shared ownership percentages, financing details or board structures beyond the announced leadership roles.
Neither company has said whether it plans to pursue a public listing. Both firms are privately held, so they face fewer disclosure requirements than public companies.
The split separates a consumer-facing wallet business from products aimed at banks, asset managers and financial-market operators. Each company may end up using different approaches to investment and product development as a result.
This announcement describes a planned separation, not a finished one. Consensys says both companies will operate independently once the process is done.
Institutional interest in blockchain-based financial products has been growing elsewhere in the industry. Compound recently opened an institutional USDC lending market with loan-to-value ratios reaching 87 percent, reflecting that wider trend toward structured on-chain products.
The post MetaMask Becomes Standalone Company as Consensys Splits in Two appeared first on Blockonomi.

Key Takeaways
IONQ shares declined 5.76% to $38.14 following the September 8 Investor Day event that didn’t trigger expected analyst rating improvements
The company elevated its 2026 revenue projections to $450M-$460M, though a substantial portion stems from the SkyWater acquisition
Mizuho reduced its price objective to $52 from $61, while the majority of analysts maintained existing ratings
Current valuation stands at approximately 53x projected sales, maintaining elevated valuation concerns among market watchers
The stock maintains a Strong Buy consensus rating with average analyst targets at $69, suggesting potential ~80% appreciation
IonQ shares experienced a 5.76% decline on Wednesday, settling at $38.14, following the quantum computing company’s September 8 Investor Day presentation that underwhelmed market participants expecting more bullish analyst responses.
The Wednesday session represented a sharp reversal from the previous day’s 9.5% rally that followed the company’s announcement of enhanced 2026 revenue projections. However, market enthusiasm proved short-lived.
The company increased its full-year 2026 revenue forecast to a range of $450 million-$460 million, representing a significant jump from the previous $280 million-$290 million guidance. IonQ also unveiled its next-generation Superion 256 quantum computing system and emphasized production efficiencies gained through its SkyWater Technology acquisition.
However, market analysts quickly dissected the composition underlying the impressive headline figures.
Quinn Bolton from Needham calculated that approximately $170 million of the revised 2026 forecast represents contributions from the SkyWater acquisition rather than organic expansion from IonQ’s primary quantum computing operations. Bolton maintained his Buy recommendation and $65 price objective.
The SkyWater transaction has delivered tangible operational benefits. Bolton observed it shortened chip development timelines from nine months down to two months while decreasing per-qubit costs by roughly 330 times—representing meaningful progress.
Mizuho Reduces Price Objective While Maintaining Optimism
Vijay Rakesh from Mizuho decreased his price target to $52 from $61 while preserving a Buy rating. The firm emphasized IonQ’s Superion development trajectory and its projection of a $215 billion quantum-related marketplace by 2040. Mizuho currently forecasts revenue of $780 million for 2027 and $1.17 billion for 2028.
Joseph Moore at Morgan Stanley maintained an Equal-Weight stance with a $49 price target. The firm upgraded its 2026 loss projection to $0.59 per share from $0.68 but refrained from adjusting its valuation assessment.
Additional analysts publishing post-event commentary generally maintained their positions. Rosenblatt preserved a Buy rating with a $100 target. Cantor Fitzgerald reaffirmed its Buy rating with a $70 target. Jefferies made a slight upward adjustment to $80 from $75.
High Valuation Continues to Challenge Bulls
Shares currently command approximately 53 times projected revenue. For an enterprise that hasn’t achieved profitability, this valuation multiple provides minimal cushion for execution missteps.
IONQ has declined 17.4% year-to-date. At the current $38.14 price level, the stock trades 53% beneath its 52-week peak of $82.09, reached in October 2025.
Notwithstanding the recent decline, overall analyst sentiment remains positive. Across nine ratings published during the last three months, IONQ holds a Strong Buy consensus designation. The mean price target stands at $69, indicating approximately 80% potential upside from present levels.
IonQ additionally announced a commercial quantum security agreement valued at $8.18 million with Congruity360, encompassing Clavis quantum key distribution pairs and Solteris network appliances.
The post IonQ (IONQ) Stock Tumbles 6% Despite Ambitious 2026 Revenue Guidance Update appeared first on Blockonomi.

Key Takeaways
ACHR shares declined 5.66% on Wednesday, ending the session at $5.50, without any company-specific catalysts behind the move.
Surging Treasury yields (10-year reached approximately 4.84%, marking a near three-year peak) triggered a risk-off sentiment affecting growth-oriented equities.
Cathie Wood’s ARK Invest acquired 575,700 ACHR shares on September 8, representing approximately $3.35 million in value.
The stock has declined approximately 27% since the beginning of the year and 14.1% following its most recent quarterly earnings disclosure.
Analyst community maintains a Strong Buy rating on ACHR with a mean price target of $11.60, suggesting potential upside exceeding 110%.
Shares of Archer Aviation experienced a 5.66% decline on Wednesday, settling at $5.50 per share. The downturn occurred without any adverse company-specific developments.
Market-wide dynamics drove the selloff. The Nasdaq Composite declined 0.6% while the Russell 2000 tumbled 1.37% as elevated oil prices and ascending Treasury yields prompted investors to retreat from higher-risk positions.
The yield on the 10-year U.S. Treasury note climbed to approximately 4.84%, reaching its highest closing mark in close to three years. This movement followed the Treasury Department’s $6 billion bond buyback announcement, which fell short of market expectations.
Elevated yields disproportionately impact nascent growth enterprises. Archer exemplifies this category as the company maintains substantial investments in aircraft engineering, FAA regulatory approval processes, and market launch initiatives, while generating minimal passenger-related revenue.
ACHR has surrendered roughly 27% of its value year-to-date. The shares have also retreated 14.1% from their August 10 earnings announcement, when the company reported a $0.34 per share loss alongside $5 million in revenue, significantly surpassing the $1.94 million analyst consensus.
Cathie Wood’s Firm Adds Shares
Amid the market pressure, Cathie Wood’s ARK Invest took an opportunistic stance. The investment firm acquired 575,700 ACHR shares on September 8 via its flagship ARK Innovation ETF, representing a transaction value of approximately $3.35 million based on Tuesday’s closing price.
While this purchase preceded Wednesday’s price drop, it demonstrates ongoing conviction from a major institutional holder of the equity.
From an operational perspective, Archer recently launched its “No Roads” nationwide flight demonstration program featuring its Midnight aircraft. The initiative included a piloted round-trip journey between Salinas and Hollister, California, as part of the company’s strategy to broaden practical flight operations.
Additionally, Archer is progressing with its acquisition of three Boeing subsidiaries: Wisk Aero, Insitu, and SkyGrid. Boeing will obtain a 16.75% ownership position in Archer as consideration. This transaction is anticipated to enhance Archer’s technological infrastructure and operational capabilities.
Wall Street Perspective
The analyst community maintains a generally optimistic stance on Archer. Six analysts have published ratings within the last three months, collectively assigning ACHR a Strong Buy consensus rating with a mean price objective of $11.60. This target represents potential appreciation exceeding 110% from Wednesday’s closing level.
Price targets span from $12.00 at Canaccord Genuity to $18.00 at Wells Fargo. Both HC Wainwright and UBS reaffirmed Buy-equivalent assessments on August 11.
However, sentiment isn’t universally positive. Weiss Ratings maintains a Sell recommendation on the stock. When aggregating all tracked analysts, the consensus shifts to “Hold” with an average target of $11.50.
Insider activity has attracted attention as well. During the past 90 days, company insiders disposed of approximately $1.14 million in stock, including transactions by CFO Priya Gupta and insider Eric Lentell, though certain sales were executed for tax obligations related to equity award vesting.
ACHR shares traded approximately 1.4% higher in pre-market activity on Thursday.
The post Archer Aviation (ACHR) Stock Drops 6% as ARK Invest Adds to Position appeared first on Blockonomi.

TLDR
U.S. Bank completed a live USBDC cross-border payment between its North American and European entities.
USBDC operated on Stellar while remaining connected to the bank’s finance, risk, and compliance systems.
The pilot tested minting, redemption, freezing, and clawback functions through U.S. Bank’s Digital Asset Platform.
U.S. Bank is exploring liquidity management, collateral mobility, and cross-border treasury uses after this pilot.
U.S. Bank disclosed the Stellar issuer address but provided no transaction value or launch date.
U.S. Bank has completed a live cross-border payment using USBDC, its own dollar-backed stablecoin. The bank announced the transaction on Sept. 9. It moved value between U.S. Bank entities in North America and Europe.
The transfer ran on the Stellar public blockchain. U.S. Bank did not share the amount transferred, the settlement time, or the transaction hash. It also did not disclose the reserve structure behind the token.
This was a test of internal infrastructure, not a commercial rollout. U.S. Bank has not said whether retail customers or outside institutions can acquire, hold, or redeem USBDC. The token stays closed to the public for now.
How the Pilot Worked
The transaction connected Stellar to the bank’s finance, risk, and compliance systems. U.S. Bank’s Digital Asset Platform handled the issuance, transfer, and redemption of USBDC throughout the process.
The platform also tested freezing and clawback tools. These functions let an issuer restrict transfers or recover tokens in certain situations, such as fraud or sanctions cases.
U.S. Bank did not say whether it used these controls during the pilot. It also did not explain how it would govern such powers in a larger deployment.
U.S. Bank successfully executed a live pilot transaction using USBDC, our proprietary U.S. dollar-backed stablecoin, to enable a cross-border payment between U.S. Bank entities in North America and Europe.
The launch of USBDC demonstrates how U.S. Bank can move funds on-chain…
— U.S. Bank (@usbank) September 9, 2026
The bank published the Stellar issuer address tied to the pilot. This lets outside parties monitor the account. It does not reveal USBDC’s supply or reserve value.
USBDC was used for a transfer between U.S. Bank’s own entities, not a payment to an outside customer. The pilot focused on whether a bank-controlled digital dollar could move across borders while staying linked to standard banking oversight.
Public blockchains run continuously, unlike systems tied to banking hours. U.S. Bank said USBDC could support transfers at any time. It did not confirm whether this particular test happened outside normal hours.
The bank did not compare the pilot to its existing cross-border payment systems. No figures were given for cost, foreign exchange fees, or speed gains.
U.S. Bank called USBDC one of the first bank-issued stablecoins deployed on a public blockchain. That description depends on how the bank defines those terms.
The project builds on U.S. Bank’s ongoing work with the Stellar Development Foundation. The two groups are looking at how public blockchain systems could support regulated banking services.
What Comes Next for USBDC
U.S. Bank said it is exploring uses such as liquidity management, collateral mobility, and cross-border treasury operations. None of these are confirmed products yet.
Liquidity management could mean moving funds between accounts outside normal hours. Collateral mobility could speed transfers of tokenized assets between approved parties.
The bank gave no timeline for further testing or a public launch. It did not name any clients or banking partners for future trials.
Any wider rollout would likely need to meet U.S. stablecoin rules and European payment requirements. Reserve backing and redemption rights would also need to be spelled out.
For now, the pilot shows U.S. Bank’s platform can issue and move a proprietary token through Stellar. It does not confirm a public stablecoin launch.
The post USBDC Stablecoin Tested by U.S. Bank Using Stellar Blockchain appeared first on Blockonomi.

Key Takeaways
Shares of Pinterest tumbled over 9% Wednesday, marking the stock’s weakest intraday performance since May.
At the Goldman Sachs Communacopia + Technology Conference, CEO Bill Ready refused to provide guidance updates while highlighting emerging international challenges.
European regulatory changes targeting Asian cross-border merchants are pressuring third-quarter performance.
CFO Julia Brau Donnelly’s planned departure on October 30 has intensified investor concerns.
Analysts maintain a Moderate Buy rating on PINS with an average target price of $28.82, suggesting 57% potential gains.
Shares of Pinterest (PINS) plunged over 9% during Wednesday’s trading session, reaching their weakest intraday level in months. The sharp decline followed CEO Bill Ready’s appearance at the Goldman Sachs Communacopia + Technology Conference, where his remarks failed to reassure anxious investors.
Ready began his presentation by stating explicitly that he would not be “updating or addressing guidance,” emphasizing that the company refrains from providing intra-quarter performance updates. This cautious approach immediately dampened investor expectations.
The CEO highlighted emerging challenges in overseas markets, specifically citing new regulatory frameworks in Europe that are constraining Asia-based cross-border merchants. Ready drew parallels to “what happened in the U.S. with tariffs,” noting that Pinterest is now recalibrating its international advertising strategy to mirror its domestic approach. However, he cautioned that this transition would generate “near-term pain” before delivering any meaningful benefits.
This geographical revenue imbalance remains a persistent challenge for Pinterest. While international users comprise over 80% of the platform’s total user base, they generate merely 20% of overall revenue.
Third-Quarter Forecast Disappoints
Pinterest projected third-quarter revenue between $1.19 billion and $1.21 billion, representing year-over-year growth of 13% to 15%. This forecast marks a deceleration from the 18.2% expansion achieved in the second quarter and merely meets analyst expectations. Company executives attributed the slowdown to Prime Day calendar shifts, diminished foreign exchange benefits, and the European regulatory impact on Asian sellers.
During the second quarter, Pinterest generated $1.18 billion in revenue, marking an 18% annual increase, while monthly active users reached an all-time high of 640 million, climbing 11%. Despite these robust figures, the company’s forward-looking projections disappointed market participants.
Adding to investor anxiety is the upcoming CFO transition. Julia Brau Donnelly revealed plans to depart on October 30 for another opportunity. Pinterest emphasized that her exit was unrelated to financial reporting or operational issues, appointing Vikram Naidu as interim chief financial officer. Ready informed Goldman analysts that the incoming CFO will need to oversee an expanded portfolio of products and geographic markets following the tvScientific acquisition.
Market Valuation and Competitive Landscape
PINS currently commands a price-to-earnings multiple of 57.5, substantially exceeding the Communication Services sector median of 16.82. This valuation premium provides minimal cushion for operational missteps.
Competitive pressures from Meta and Google, both advancing their visual search and content discovery platforms, are compelling Pinterest to increase investments in GPUs and related infrastructure. These capital expenditures are compressing profit margins in the near term.
The company has been expanding its AI-powered advertising platform, Performance+, and recently finalized a $4 billion partnership with Amazon Web Services to enhance its computer vision technology and advertising capabilities. Monthly active users have surpassed 600 million, with particularly strong engagement among Generation Z users.
Wall Street analysts currently assign PINS a Moderate Buy consensus rating, derived from 11 Buy recommendations and 13 Hold ratings issued over the last three months. The consensus price target stands at $28.82, indicating approximately 57% upside potential from present trading levels.
The post Pinterest (PINS) Stock Plummets 9% as CEO Warns of Global Advertising Challenges appeared first on Blockonomi.

Key Highlights
Nvidia has forged a strategic alliance with eight Australian cloud and data center operators to deliver up to 2 gigawatts of AI infrastructure by 2027.
Shares of NVDA began Thursday’s session at $223.67, trading within a 52-week span of $164.27 to $236.54.
The chip giant reported Q2 revenue of $96.22 billion, marking a 105.9% year-over-year increase and surpassing analyst projections of $92.27 billion.
Earnings per share reached $2.22, exceeding the $2.09 Street estimate, with net profitability standing at 63.66%.
Analyst sentiment leans toward “Moderate Buy” with a mean price objective of $324.34, suggesting approximately 45% potential upside.
Nvidia revealed a strategic collaboration with eight Australian data center and cloud infrastructure firms to scale AI computing capabilities nationwide. The consortium features Firmus, Sharon AI, IREN, ResetData, Megaport, CDC, NextDC, and AirTrunk as key participants.
Shares of NVDA kicked off Thursday’s trading at $223.67. The stock currently operates within its annual range, having touched a low of $164.27 and peaked at $236.54, while maintaining a market capitalization of $5.39 trillion.
This Australian collaboration aims to deploy up to 2 gigawatts of AI computing infrastructure by the close of 2027. The buildout will leverage Nvidia’s DSX platform technology, while participating organizations will provide land acquisition, power infrastructure, and physical data center facilities spanning multiple DSX AI factory generations.
Nvidia’s contribution encompasses the DSX platform framework, accelerated computing hardware, networking solutions, software ecosystems, and ongoing technical assistance. Partner organizations will maintain operational control of the AI factories once deployed.
This development arrives as Australia positions itself as a premier destination for data center capital. Simultaneously, the nation grapples with mounting concerns regarding energy consumption and water resource utilization associated with large-scale data center operations.
While Nvidia pursues international expansion, the United States continues to generate approximately 70% of the company’s total revenue for fiscal 2026. The Australian initiative forms part of a strategic diversification beyond Nvidia’s primary market territory.
Quarterly Results Exceed Expectations
Nvidia disclosed Q2 financial results on August 26th. Quarterly revenue reached $96.22 billion, representing a 105.9% climb from the prior-year period and substantially exceeding the analyst consensus of $92.27 billion.
Earnings per share totaled $2.22, outpacing the $2.09 consensus forecast by $0.13. During the comparable quarter last year, Nvidia delivered EPS of $1.05.
The company’s net margin currently sits at 63.66%, while return on equity measures 96.04%. Wall Street analysts project full-year EPS of $9.10 for the ongoing fiscal period.
Nvidia additionally unveiled an $80 billion share buyback authorization, approved on May 20th. Shareholders registered as of September 10th received a quarterly dividend distribution of $0.25 per share, disbursed October 1st.
Wall Street Outlook and Trading Activity
Among research firms, Benchmark maintains a Buy recommendation with a $335 price objective. Robert W. Baird holds an Outperform stance with a $500 target. Across 55 covering analysts, the prevailing consensus reads “Moderate Buy,” accompanied by an average price target of $324.34.
Orange Investment Advisors reduced its NVDA holdings by 10.5% during Q2, liquidating 19,594 shares while retaining 166,403 shares valued at approximately $33.3 million.
Regarding insider transactions, EVP Timothy Teter divested 30,000 shares on August 31st at $217.88 each, generating $6.54 million in proceeds. Director Mark Stevens offloaded more than one million shares through two separate sales totaling roughly $235.6 million.
Throughout the preceding three-month period, company insiders collectively sold 2,585,740 shares representing approximately $571 million in aggregate value.
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