Blockonomi

TLDR
Nokia rebounds as Zain KSA expands Deepfield across more than 100 Saudi cities.
Deepfield gives Zain KSA real-time visibility into network traffic and services.
The system helps detect congestion, latency and service issues much faster.
Deployment supports stronger cloud, gaming and streaming performance nationwide.
The project aligns with Saudi Arabia’s Vision 2030 digital infrastructure push.
Nokia (NOK) rose 0.79% to $10.18 in pre-market trading after closing 2.60% lower at $10.12. The move followed a major network intelligence deployment with Saudi Arabia’s Zain KSA. The project expands advanced network monitoring across more than 100 cities throughout the Kingdom.
Nokia Oyj, NOK
Zain KSA Expands Network Intelligence Deployment
Zain KSA has deployed Deepfield Cloud Intelligence across its national network to improve service monitoring and performance. The technology provides real-time visibility into network traffic, cloud services, applications, and changing internet activity. Consequently, engineering teams can identify network problems faster and reduce service disruptions affecting customers.
Saudi Arabia continues recording rising data demand from streaming, cloud services, gaming, and expanding digital applications. Therefore, telecom operators require stronger monitoring systems to manage growing traffic while maintaining stable network performance. The system combines internet intelligence with network telemetry to provide clearer information about traffic behavior.
The deployment also supports Zain KSA’s broader effort to build a more automated and software-driven network. Meanwhile, the project expands the technology provider’s network intelligence footprint across the Middle East. The agreement also strengthens its position in Saudi Arabia’s growing telecommunications and digital infrastructure sector.
Deepfield Improves Visibility Across Saudi Arabia
Deepfield allows Zain KSA to monitor major cloud and online services throughout its network. The system identifies congestion, latency, and unusual traffic patterns before those problems create broader service disruptions. As a result, Zain KSA can maintain stronger performance across streaming, gaming, cloud platforms, and other digital services.
Deepfield Cloud Genome provides detailed information about internet applications, networks, and online services moving through telecom infrastructure. The system organizes services across more than 30 categories and applies over 100 machine-learning rules. This structure helps network teams understand traffic sources and how individual applications affect network performance.
The platform also converts large amounts of network data into structured information for operational and analytical use. Zain KSA can use that information to guide network optimization and future infrastructure investments. The deployment may also support new services requiring faster response times and dependable network connections.
Deployment Supports Saudi Digital Infrastructure Growth
Saudi Arabia continues expanding telecommunications infrastructure under its wider Vision 2030 digital transformation strategy. The national program supports cloud adoption, digital services, advanced connectivity, technology development, and broader economic diversification. Zain KSA has positioned network modernization as an important part of supporting these growing digital requirements.
The deployment also expands the role of advanced software and traffic analytics within large telecommunications networks. Deepfield focuses on network intelligence, traffic analysis, service assurance, and operational visibility. These functions help operators respond faster as data consumption and application complexity increase.
Zain KSA now gains wider visibility across services operating throughout more than 100 Saudi cities. The expanded monitoring capability supports network reliability while helping teams manage growing digital traffic. The project also aligns with Saudi Arabia’s continued push toward more connected and data-driven infrastructure.

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TLDR
The precious metal gained 0.6% to reach $4,139.91 per ounce on Tuesday, bouncing back modestly following Monday’s 4% plunge.
Crude oil prices continue climbing amid the ongoing US-Iran dispute over Strait of Hormuz access, heightening inflation concerns.
Treasury yields on 10-year bonds reached a 19-year peak, diminishing gold’s appeal as an investment vehicle.
The yellow metal has declined roughly 7% in the last month following Fed rate increases and hawkish policy signals.
Market participants are closely monitoring Wednesday’s inflation figures and Friday’s employment data for Federal Reserve policy direction.
Gold prices posted gains on Tuesday following a challenging session to kick off the week. The precious metal experienced a 4% plunge on Monday, marking one of its sharpest single-day losses in several months.
Spot gold advanced 0.6% to settle at $4,139.91 per ounce as of 05:33 ET. Meanwhile, gold futures edged up 0.1% to $4,171.90 per ounce.
Gold Dec 26 (GC=F)
Even with Tuesday’s modest recovery, the metal continues trading near its lowest point in seven weeks. Gold faces headwinds from climbing bond yields and US dollar strength.
US-Iran Tensions Sustain Elevated Energy Prices and Inflation Worries
Oil prices maintained their upward trajectory as Iranian authorities remained firm on their terms for reopening the Strait of Hormuz. This critical shipping channel handles a substantial portion of worldwide energy transport.
President Trump turned down Iran’s most recent proposal, which included a commitment to reopen the strait within one week. Sources indicate Iranian leadership believes reaching an agreement before November’s US midterm elections appears increasingly unlikely.
The standoff between Washington and Tehran has now stretched into its eighth month, persistently disrupting global energy distribution and amplifying inflation anxieties.
Elevated crude oil costs typically drive broader price increases throughout the economy. This dynamic encourages central banks to implement tighter monetary policy through rate hikes, creating a challenging environment for gold given the metal produces no yield.
Bond Yields Surge to Nearly Two-Decade Highs
The continued rally in crude oil prices intensified selling pressure across US Treasury markets on Monday. Yields on 10-year government bonds climbed to levels not witnessed in 19 years.
Elevated bond yields diminish gold’s relative attractiveness to investors. This occurs because fixed-income securities offer tangible returns, unlike the non-yielding precious metal.
BREAKING: Spot gold and silver prices extend losses to nearly -4% and -5% on the day as the US 10Y Note Yield rises to a fresh 19-year high.
Gold and silver have erased a combined -$1.2 trillion in market cap today. pic.twitter.com/nSTrKkOYZQ
— The Kobeissi Letter (@KobeissiLetter) September 28, 2026
Throughout the last 30 days, the yellow metal has surrendered approximately 7% of its value. This pullback emerged after the Federal Reserve implemented its first rate hike since 2023.
Central bank policymakers maintained a hawkish stance, signaling additional rate adjustments remain possible this year. Current market pricing suggests approximately 70% probability of another increase coming in October.
Researchers at ANZ noted the near-term trajectory for gold appears challenging. They identified elevated yields and persistent inflation risks as primary obstacles confronting the precious metal.
A previous analysis from the prior week documented gold futures declining across three consecutive trading sessions. That selloff coincided with US dollar appreciation and the 10-year Treasury yield climbing to its highest reading since July 2007.
Silver experienced similar downward pressure during this period, closing 2.4% lower at $64.382 per troy ounce.
Market attention now shifts to two significant economic releases this week. Wednesday’s personal consumption expenditures index will provide the Federal Reserve’s preferred inflation measurement.
Friday’s nonfarm payrolls data will deliver fresh insights into labor market conditions. These reports are expected to influence market expectations surrounding the Fed’s upcoming monetary policy decisions.
Currently, gold finds itself navigating competing market dynamics. Geopolitical instability and rising energy costs bolster safe-haven demand, while strengthening bond yields and dollar momentum continue applying downward pressure on precious metals valuations.
The post Gold Rebounds Modestly as Markets Brace for Critical US Inflation Numbers appeared first on Blockonomi.

TLDR
Blockchain.com is reportedly seeking to raise about $500 million in an IPO this year.
The company is targeting a valuation between $4 billion and $6 billion.
That range is well below the $14 billion valuation it reached in 2022.
Bitcoin has gained more than 30% since mid-August after a US Treasury buyback announcement.
Shares of Gemini, BitGo and eToro remain down about 50% to 80% from their post-IPO highs.
Blockchain.com, a crypto exchange and wallet provider, is reportedly planning to raise about $500 million through an initial public offering. The company is aiming to list its shares this year.
Bloomberg reported the plans on Monday, citing people familiar with the matter. The report was published on Sept. 28.
According to the report, Blockchain.com is seeking a valuation of between $4 billion and $6 billion. The company is also open to a smaller offering if needed to complete a public listing.
A Lower Valuation Than Its Peak
The target valuation is well below the company’s previous high. Blockchain.com reached a $14 billion valuation in 2022, at the height of the last crypto boom.
That peak came more than four years ago. Even at the top of the proposed range, the company would be valued at less than half of that figure.
Blockchain.com took an early step toward going public in May. The company confidentially filed draft registration documents with the US Securities and Exchange Commission.
At the time, the company did not say how many shares it planned to offer. It also did not share a possible price range.
A confidential filing lets a company start the review process with regulators before making its plans public. The filing paved the way for a potential IPO.
Crypto Markets Rebound
The IPO plans come as capital markets begin to reopen for crypto companies. A market recovery started last month.
Bitcoin has climbed more than 30% since mid-August. The rally began after the US Treasury announced it would sharply increase buybacks of long-dated government debt.
That announcement helped trigger gains across crypto markets. Prices moved higher in the weeks that followed.
Even with the rebound, conditions for crypto companies looking to raise money remain difficult. Several firms that went public recently have seen their shares fall.
Shares of Gemini, BitGo and eToro are still down roughly 50% to 80% from their post-IPO highs, according to Bloomberg.
Those companies are among the crypto firms that have listed on public markets recently. Their share prices have not held on to their early gains.
For now, Blockchain.com’s plans are based on the Bloomberg report. The $500 million target, the $4 billion to $6 billion valuation range and the openness to a smaller deal are the latest details available.
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TLDR
Technology shares pushed the STOXX 600 higher on Tuesday following positive AI sector developments.
Chip manufacturers rallied after reports emerged of Anthropic preparing for a potential IPO with a valuation exceeding $2 trillion.
Crude prices maintained elevated levels amid unresolved diplomatic tensions between Washington and Tehran.
Swiss chocolatier Lindt saw shares tumble approximately 7% following a downward revision of its 2026 revenue projections.
Strong performances from Julius Baer and Legrand offset losses elsewhere in the market.
European stock markets posted moderate gains during Tuesday’s trading session. The technology sector emerged as the primary catalyst behind the upward movement.
By mid-morning hours, the benchmark STOXX 600 index had climbed approximately 0.3%, reaching 640.28 points. The majority of regional indices across Europe reflected similar positive momentum.
STXE 600 I (^STOXX)
The technology sector touched its strongest level in four weeks. The rally gained steam following a Reuters article detailing Anthropic’s preparation for entering public markets.
According to the report, the artificial intelligence firm could achieve a market capitalization exceeding $2 trillion. Market participants interpreted this development as evidence of renewed appetite for AI-focused initial public offerings.
Technology Sector Spearheads Market Rally
Chipmakers experienced notable gains in response to the Anthropic disclosure. Fiona Cincotta, a market strategist, noted that the news reignited enthusiasm for technology company debuts.
ANTHROPIC FILES FOR IPO, PROSPECTUS SEEN BY REUTERS
Here’s everything you need to know:
Anthropic could seek a valuation above $2 trillion.
2025 financials:
Rev: $4.59B, up 1,088% YoY from $386M
Oper loss: $8.06B, widening from $2.98B
GAAP net loss: $41.97B, vs $8.31B in 2024… pic.twitter.com/ntYJ03uszx
— Wall St Engine (@wallstengine) September 28, 2026
This investment theme had faced headwinds during preceding weeks. Early in the month, executives from multiple AI enterprises advocated for tempered expansion due to apprehensions about technological misapplication.
Those statements had dampened sentiment toward technology equities. Simultaneously, ascending government bond yields compounded the negative pressure.
Energy markets saw crude prices sustain their recent strength on Tuesday. Brent crude futures hovered around $106.99 per barrel.
Prices maintained their elevation as diplomatic efforts between Washington and Tehran failed to produce resolution. Given Europe’s substantial reliance on energy imports, elevated petroleum costs typically exert disproportionate pressure on the continent’s economic performance.
Government debt yields across global markets persisted near levels unseen in decades. Market participants remain vigilant regarding inflationary pressures associated with energy expense escalation.
Christine Lagarde, who heads the European Central Bank, delivered remarks on Monday. She indicated that inflation increases observed this year have not yet triggered substantial secondary effects throughout eurozone economies.
Lagarde maintained that a gradual policy stance remains appropriate. The central bank had implemented rate increases earlier in the month.
Notable Individual Stock Performances
Among STOXX 600 constituents, Lindt experienced the most significant decline. The company’s shares retreated nearly 7%.
The premium chocolate producer lowered its 2026 revenue outlook for the second occasion this year. Management cited diminished consumer expenditure, heightened price consciousness among shoppers, and subdued demand attributed to unusually warm European weather.
Industry peers Barry Callebaut and Nestle also registered declines following this announcement. Julius Baer demonstrated contrasting momentum, emerging as the session’s strongest performer.
The Swiss banking institution saw shares surge nearly 8%. Switzerland’s financial oversight body FINMA discontinued enforcement actions related to private lending activities and client associations with two politically connected Russian nationals.
Legrand delivered another standout performance. The French electrical equipment and digital infrastructure provider climbed more than 7% after unveiling upgraded medium-term financial objectives.
Across other European markets, London’s benchmark index advanced roughly half a percentage point, supported by healthcare and natural resources stocks. German and French indices recorded more modest appreciation.
Spain reported its annual inflation measure accelerated to 4.9% in September. The nation’s retail sales contracted 0.4% on a year-over-year basis.
Sweden’s household sentiment indicator improved to 102.2 in September. The country’s business confidence gauge extended its winning streak to six consecutive months, reaching 109.3.
Within fixed income markets, the U.S. 10-year Treasury yield declined marginally to 5.23%. Britain’s 10-year gilt yield advanced to 5.39%, while Germany’s equivalent benchmark eased to 3.62%.
The post European Markets Climb Higher as Anthropic IPO Speculation Energizes Tech Sector appeared first on Blockonomi.

Key Takeaways
Jiangsu Hengrui Pharmaceuticals has licensed its experimental obesity pill HRS-1596 to Novo Nordisk for up to $2.6 billion.
Hengrui receives $300 million immediately, with an additional $2.3 billion tied to developmental achievements and commercial success.
HRS-1596 targets both GLP-1 and GIP receptors and is designed for weekly administration.
Shares of Novo have plummeted over 70% from peak levels amid intensifying competition from Eli Lilly in obesity therapeutics.
Hengrui’s Hong Kong shares climbed approximately 2% following the partnership announcement.
As Novo Nordisk watches its stock tumble over 70% from all-time highs, the pharmaceutical giant is fighting back. With Eli Lilly steadily capturing market share in the lucrative obesity treatment space, Novo announced a major licensing partnership on Tuesday.
The Copenhagen-based pharmaceutical manufacturer has struck a deal valued at up to $2.6 billion with Jiangsu Hengrui Pharmaceuticals to obtain rights for an investigational weight-loss pill. This marks the second GLP-1 licensing partnership Novo has forged with a Chinese firm in 2025.
Under the terms, Novo acquires worldwide development and commercialization rights to HRS-1596, excluding mainland China, Hong Kong, Macao and Taiwan—territories Hengrui will continue to control.
The candidate drug operates as a dual GLP-1/GIP receptor agonist and remains in preliminary clinical testing. Chinese regulators have greenlit Phase 1 studies evaluating its potential for obesity and type 2 diabetes management.
Financial Structure of the Agreement
The Chinese pharmaceutical company receives an initial $300 million payment from Novo. The remaining $2.3 billion is performance-based, contingent on hitting clinical, regulatory and commercial targets, supplemented by sales-based royalty payments.
According to Novo, HRS-1596 is being developed as a once-weekly oral medication. This would represent a significant advancement over existing daily pill formulations like Wegovy.
Mike Doustdar, Novo’s CEO, indicated earlier in April that oral medications will become increasingly central to obesity care strategies. This licensing agreement directly supports that vision.
A company representative informed Reuters that international clinical trials are being planned for HRS-1596, though specific timelines remain undisclosed.
The Battle With Lilly and China’s Growing Pipeline
The licensing deal comes as Novo faces mounting pressure from Eli Lilly, whose oral medication Foundayo directly challenges Wegovy. This competitive dynamic has contributed to Novo’s prolonged stock decline.
China has emerged as a hotbed for obesity drug innovation. According to Pharmcube analytics, nearly 250 GLP-1 receptor agonist programs are currently underway across Chinese biotech and pharmaceutical companies.
Novo isn’t alone in tapping China’s pipeline. Industry heavyweights including AstraZeneca, Merck and Pfizer have each secured licensing agreements for Chinese-developed GLP-1 compounds.
This represents Novo’s second Chinese partnership. The company previously licensed UBT251 from United Laboratories International, a candidate that demonstrated up to 19.7% body weight reduction over 24 weeks in clinical testing.
Industry analysts project the global obesity pharmaceutical market will reach approximately $100 billion in annual revenue by the mid-2030s. This enormous commercial opportunity continues to drive aggressive dealmaking across the sector.
Following the announcement, Hengrui’s Hong Kong-listed shares gained roughly 2%. This uptick contrasted with broader market weakness, as the Hang Seng Index declined around 1% during the same trading session.
The transaction remains subject to U.S. antitrust clearance and customary closing requirements. Both Novo and Hengrui anticipate finalizing the agreement in Q4 2026.
Eli Lilly has not issued any statement regarding potential licensing arrangements with Chinese obesity drug developers when contacted for comment.
The post Novo Nordisk (NVO) Stock: $2.6B Deal Secures Chinese Obesity Pill Rights appeared first on Blockonomi.

TLDR
Bitget processed 9,585 Bitcoin withdrawal orders totaling 4,098 BTC after reopening withdrawals on Sept. 28.
DeFiLlama data shows Bitget’s tracked Bitcoin reserves fell by about 4,642 BTC, worth roughly $391 million.
Investigators say hackers allegedly linked to North Korea are laundering the $387.5 million haul across chains.
NEAR Intents says its SHIELD system blocked more than $50 million in transfers tied to the attack.
THORChain refuses to block attacker addresses, saying it does not censor transactions by design.
Nearly 5,000 Bitcoin has left Bitget’s tracked reserves after the crypto exchange reopened withdrawals following its $387.5 million hack.
On Sept. 28, Bitget CEO Gracy Chen said the exchange had processed 9,585 withdrawal orders totaling 4,098 BTC as of 17:00 UTC+8. The orders came shortly after Bitcoin withdrawals resumed.
Data from DeFiLlama showed Bitget’s tracked Bitcoin balance falling to about 30,770 BTC from 35,412 BTC. That drop of roughly 4,642 BTC is worth about $391 million at current prices.
The reserve drop is larger than Chen’s withdrawal total. DeFiLlama tracks exchange-linked wallets, so changes can also reflect internal wallet moves or gaps in address coverage.
Withdrawals Return in Stages
Bitget froze withdrawals for four days while it investigated the largest security incident in its eight-year history. Bitcoin withdrawals came back at 08:00 UTC on Sept. 28 after extra checks on its systems.
Ethereum withdrawals are set to follow on Sept. 29 and USDT on Sept. 30. Remaining tokens, fiat, and peer-to-peer services are scheduled to return on Oct. 2.
Chen said an internal trace found that attackers used flaws in third-party products to obtain internal credentials. They then submitted fake withdrawal instructions that got past Bitget’s risk controls.
The exchange said its private keys and cold-wallet reserves were not compromised. It has revoked and reissued credentials, isolated affected systems, and disabled the third-party feature while the vendor works on a fix.
Bitget said customers will not lose money. Its Protection Fund will cover the shortfall, and Chen said the company plans to refill the fund to more than $300 million within a week.
Stolen Funds Spread Across Chains
Blockchain investigator ZachXBT said Chinese illicit actors were laundering the funds for hackers allegedly linked to North Korea. He said the assets were being moved across chains and sent into mixing services including Wasabi.
Security firms Mandiant and SlowMist are helping with forensic work and tracing. Circle and Tether also blacklisted a wallet tied to the exploiter on Friday, freezing $318,013 in USDT and USDC.
Chen called on THORChain, a cross-chain swap protocol, to refuse service to addresses linked to the attack. THORChain said it does not censor by design and will not selectively block wallets or swaps.
Thank you to Circle and Tether for moving quickly. Every address frozen matters.
To the broader community: Bitget's Recovery Bounty Program is live — 5% for freezing attacker funds, 5% for recovery. Every exchange, security researcher, and onchain investigator can make a… https://t.co/UrFjceBL49
— Gracy Chen @Bitget (@GracyBitget) September 26, 2026
Security firm GoPlus disputed that stance. It said THORChain’s node operators have emergency powers, including network halts, which the protocol used after its own $10.7 million exploit in May.
GoPlus estimated that about 101.5 BTC, worth roughly $8.5 million, had already exited through THORChain. It said another 27.63 million XRP, worth about $43 million, was being converted into Bitcoin.
THORChain said a network halt protects the protocol itself and is not a selective freeze of specific funds.
NEAR Intents, a protocol for swapping assets across blockchains, took a different approach. General manager Alex Shevchenko said its SHIELD system detected and blocked more than $50 million in attempted transfers linked to the hack.
The protocol froze $503,000 during execution, while about $166,000 in suspected stolen funds passed through.
“The people who build these systems make choices about what those protocols enable. Refusing to help launder stolen assets is one of ours,” Shevchenko said. NEAR Intents said it will give up Bitget’s bounty offers and return frozen funds through a proper legal process.
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TLDR
The Clearing House, a US bank-owned payments operator, has picked Quant to supply software for its planned tokenized deposit network.
Quant will connect the network to existing payment systems RTP and CHIPS and offer a service for banks without their own tools.
The network is expected to open to participating institutions in the first half of 2027.
Neither company says banks must buy, hold or pay fees in the QNT token.
QNT hit $373 on September 27, fell to $195.35 on September 28, and now trades at $256.27.
The Clearing House, a payments operator owned by US banks, has chosen Quant to supply software for a planned network for tokenized bank deposits. The deal was announced on September 24.
The network is part of The Clearing House’s On-Chain Money Initiative, first announced in June. It will let banks of all sizes clear and settle tokenized deposit transactions.
A tokenized deposit is a digital version of a bank deposit. Unlike a stablecoin, it remains a claim on the bank that issued it and keeps the protections of a regular deposit.
What Quant Will Provide
Quant will run the network’s interoperability, orchestration and transaction management layer. This part coordinates the clearing and settlement of tokenized deposits.
Its technology will also connect the network to RTP and CHIPS, two existing payment systems run by The Clearing House. This would let bank money move between blockchain and traditional systems.
The Clearing House said the network aims to support instant settlement and payments that trigger automatically when agreed conditions are met. Its current networks clear and settle more than $2 trillion each day.
Quant also plans to offer Tokenized Deposits-as-a-Service. This is for US institutions using The Clearing House that do not have their own tokenized deposit tools.
“Building interbank infrastructure for tokenized deposits requires proven technology that can scale,” said Sal Karakaplan, Chief Strategy Officer of The Clearing House.
Quant founder and CEO Gilbert Verdian called the deal “a defining step in the global transition to programmable money.”
The network is expected to open to participating institutions in the first half of 2027. No banks have been named as users of Quant’s extra service, and no transaction volumes or revenue figures have been shared.
Questions Over the QNT Token
Neither announcement says banks must buy, hold or pay fees in QNT, Quant’s utility token. They also do not say QNT will be used as a settlement asset or burned.
Quant’s terms describe QNT as a token customers may use for its products and services. However, its FAQ says platform fees can be paid in US dollars, while subscriptions can be made with QNT.
Fees may be paid monthly or annually in advance. Card payments and invoices are allowed where Quant agrees, which leaves room for banks to pay without the token.
A 2022 description of Overledger, Quant’s technology for linking different ledgers, said transactions on that platform are powered by QNT. The 2026 announcements do not say whether that model applies to the new bank network.
Banks backed the initiative in June, before Quant was chosen. That support is not a disclosed commitment to buy QNT or use Quant’s service.
QNT’s price has swung sharply since the news. The token hit an intraday high of $373 on September 27, then fell to a low of $195.35 on September 28 before bouncing back.
QNT was last trading at $256.27, up 12.62% in 24 hours. It is up about 281% over the past seven days and about 317% over the past 30 days.
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Key Takeaways
Advanced Micro Devices has agreed to purchase World Labs, an AI startup created by renowned researcher Fei-Fei Li, in an $8.2 billion all-stock transaction.
Fei-Fei Li will transition to AMD as chief scientist and executive vice president, working under CEO Lisa Su.
World Labs specializes in “spatial intelligence” technology, creating AI systems that generate and understand three-dimensional spaces for applications in robotics and design.
The two organizations previously collaborated on projects, with AMD participating in World Labs’ $1 billion funding round this year.
Regulatory approvals are pending, with completion anticipated by late 2026.
On Monday, Advanced Micro Devices revealed its intention to purchase World Labs, the artificial intelligence research company headed by Fei-Fei Li. The transaction, structured entirely in stock, carries a valuation of $8.2 billion.
We are excited to announce that World Labs is joining @AMD.
The research and technical breakthroughs we have achieved since our founding in 2024 have given us a clear vision for AI’s potential to solve problems in the spatial and physical world.
Accelerating the future of… pic.twitter.com/hIDM20vQsy
— World Labs (@theworldlabs) September 28, 2026
Headquartered in San Francisco, World Labs develops artificial intelligence systems centered on “spatial intelligence,” a discipline designed to enable machines to comprehend and recreate three-dimensional environments.
Fei-Fei Li has earned recognition as a leading authority in computer vision technology. As co-founder of World Labs, she will now transition to Advanced Micro Devices in the dual role of executive vice president and chief scientist.
Upon completion of the transaction, Li will maintain a direct reporting relationship with AMD CEO Lisa Su. The companies anticipate finalizing the agreement by the close of 2026, contingent upon receiving necessary regulatory clearances.
From Collaboration to Acquisition
This acquisition represents the culmination of an existing relationship between the two organizations. AMD and World Labs initiated a partnership last year, focusing on training and inference operations utilizing AMD’s graphics processing units.
The partnership expanded significantly throughout the following months. AMD participated as an investor in World Labs’ substantial $1 billion fundraising round conducted earlier this year, establishing an early position in the startup’s technological capabilities.
According to Li, the acquisition represents a logical progression for both organizations. She emphasized that the objective involves integrating AMD’s hardware and software capabilities with World Labs’ artificial intelligence research within a unified structure.
AMD frames the transaction from a strategic perspective, though both parties share aligned objectives. The semiconductor company believes World Labs’ research capabilities will inform its future processor designs and infrastructure strategies.
Su emphasized that comprehending the evolution of AI models is essential for developing appropriate computing platforms. She characterized Li’s research expertise as an excellent match for AMD’s strategic direction.
World Labs’ technological capabilities extend far beyond conventional text-based AI applications. The company’s systems can create and manipulate interactive three-dimensional spaces using text descriptions, images, and video content as inputs.
Such capabilities hold significant potential for robotics applications, simulation environments, and design workflows. AMD anticipates that this technological domain will drive future demand for processors and AI computing infrastructure.
The Future of World Labs Under AMD
Following the transaction’s completion, the World Labs research team will continue advancing AI model development. AMD has stated that the startup’s core mission will remain intact despite integration into a substantially larger corporate structure.
Li’s career transition represents the most prominent change resulting from the deal. She will step away from her chief executive position at World Labs to assume a research leadership position at one of the semiconductor industry’s major players.
This represents AMD’s most significant acquisition in the artificial intelligence sector to date. The move reflects a broader industry trend where chip manufacturers are acquiring AI talent and research capabilities rather than exclusively developing hardware solutions.
Regulatory authorities must still approve the transaction before finalization. Both organizations have established an end-of-2026 timeline for completing the acquisition process.
AMD has not disclosed specific plans for integrating World Labs’ technology into upcoming product releases. At present, the company indicates that the primary objective involves accessing research expertise rather than launching immediate commercial offerings.
The transaction contributes to an expanding series of AI-focused acquisitions announced throughout the semiconductor industry this year. It also represents one of the most prominent instances of an AI researcher transitioning into a corporate chief scientist position.
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Key Highlights
Tesla’s supervised Full Self-Driving technology received regulatory clearance in Croatia.
The company expects to launch the feature in Croatia in the near future.
Croatia becomes the fourth European nation to authorize FSD, following the Netherlands, Belgium, and Slovenia.
The Netherlands’ RDW regulator has recommended FSD approval across all EU member states.
An EU-wide authorization vote has been delayed, with December now the anticipated timeframe for a decision.
Shares of Tesla (TSLA) dropped 4% Tuesday following the electric vehicle manufacturer’s announcement of regulatory clearance for its Full Self-Driving software in another European market. Croatian authorities have authorized the supervised autonomous driving system, with Tesla confirming that deployment will commence shortly.
This authorization expands Tesla’s European footprint for advanced driver-assistance technology. The development arrives as the automaker increasingly relies on autonomous driving capabilities to strengthen its competitive position in the region.
Croatia isn’t breaking new ground here. The Dutch transportation authority RDW granted initial approval in April.
Belgian regulators followed suit weeks later. Slovenia authorized the technology earlier this month, making Croatia the fourth nation to join this expanding group.
Continental Approval Remains Uncertain
RDW’s involvement extends beyond Dutch borders. The regulatory body has recommended FSD authorization throughout the European Union.
Such approval would eliminate the need for individual country authorizations across all 27 EU nations. This streamlined approach would significantly accelerate Tesla’s capacity to market the feature continent-wide.
However, the recommendation has encountered resistance. Safety organizations and multiple EU governments have expressed concerns regarding the system’s approach to posted speed limit enforcement.
Speed limit adherence has emerged as the primary sticking point in Tesla’s European expansion strategy. Regulatory bodies are demanding guarantees that supervised autonomous driving maintains strict compliance with traffic regulations.
Regulatory Schedule Continues to Slide
Initial projections anticipated an EU-wide authorization vote in October. Those expectations have since been revised.
The earliest realistic opportunity for a final determination is now December. This represents a two-month postponement from initial projections.
Securing continental approval requires more than simple majority support. The process demands a “qualified majority,” necessitating backing from a minimum of 15 EU member nations.
Additionally, those supporting countries must collectively represent at least 65% of the union’s total population. This dual requirement creates a more stringent approval threshold than simple numerical counting.
For Tesla, the implications extend far beyond software deployment. Company leadership has identified FSD as critical infrastructure for reversing declining sales figures and recapturing European market position.
Chinese electric vehicle manufacturers have intensified competitive pressure across multiple European territories. Enhanced driver-assistance capabilities represent a strategic differentiation opportunity for the American automaker.
Currently, Croatia provides Tesla with another authorized territory for immediate deployment. The Netherlands, Belgium, and Slovenia have already granted clearance, with Croatian availability anticipated imminently.
The more significant objective—comprehensive EU authorization—remains mired in bureaucratic evaluation. December represents the next critical milestone for potential regulatory action.
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TLDR
The CFTC registered Coinbase Clearing LLC as a derivatives clearing organization on Sept. 28.
The clearinghouse can clear fully collateralized futures, options on futures and swaps.
Coinbase plans to use USDC as collateral with settlement available 24/7.
Margined derivatives and planned single-stock perpetuals will stay with outside partners.
Coinbase has not given a date for the first contract cleared through the new entity.
Coinbase has received approval from the Commodity Futures Trading Commission to run its own derivatives clearinghouse in the United States. The registration for Coinbase Clearing LLC took effect on Monday, Sept. 28.
The approval allows the clearinghouse to handle fully collateralized futures, options on futures and swaps. It does not cover Coinbase’s margined or leveraged derivatives products.
A derivatives clearing organization sits between the buyer and seller in a trade. It helps manage settlement and counterparty risk, including cases where one side defaults.
Coinbase Completes Its Derivatives Setup
With this approval, Coinbase now runs three regulated entities in its U.S. derivatives business. Coinbase Financial Markets Inc. acts as its futures broker, while Coinbase Derivatives LLC serves as its exchange.
Coinbase Derivatives started as LMX Labs LLC and later operated as FairX. Coinbase bought FairX in 2022, and the exchange’s CFTC designation dates to November 2020.
Until now, Coinbase Derivatives relied on Nodal Clear to clear trades on its exchange. The new clearinghouse gives the company another option for products within its approved scope.
“Today’s CFTC approval completes Coinbase’s end-to-end derivatives infrastructure, enabling us to bring more regulated derivatives products to market with native USDC collateral and 24/7 settlement,” said Molly Abraham, Coinbase’s general counsel.
Coinbase calls the new entity the first USDC-native clearinghouse. That label comes from the company and is not used in the CFTC registry.
USDC is a stablecoin issued by Circle that tracks the U.S. dollar. It can move outside normal banking hours, which supports around-the-clock settlement.
The CFTC has approved the launch of Coinbase Clearing LLC, our own USDC-native clearinghouse.
Built for 24/7 settlement with USDC collateral, Coinbase Clearing completes our full stack of regulated derivatives infrastructure. pic.twitter.com/uLD7pSNUPj
— Coinbase Markets (@CoinbaseMarkets) September 28, 2026
Stock Perpetuals Stay With Outside Partners
Coinbase will not move all of its derivatives products to the new clearinghouse. External partners will keep supporting its margined derivatives business.
The company’s planned single-stock perpetual contracts will also use outside clearing partners. Earlier in September, Coinbase filed to bring these products to U.S. markets.
Coinbase later sought clearance for more than 50 single-stock perpetual contracts tied to companies such as Nvidia, Microsoft and Tesla. The contracts would trade 24 hours a day, Monday through Friday, with no expiration date.
Those products still face their own regulatory review. The clearinghouse approval does not authorize them for launch.
Coinbase applied for the clearing registration on Nov. 14, 2025. The application included a proposed rulebook, compliance materials and details about its planned clearing activities.
Other crypto firms have taken similar steps. Kraken parent Payward completed its purchase of Bitnomial in May, gaining a CFTC-regulated exchange, clearinghouse and futures brokerage.
The CFTC registry also lists Gemini Olympus, Electron Exchange DCO, ProphetX and Polymarket Clearing with comparable permissions for certain fully collateralized products.
Coinbase said it plans to build more fully collateralized derivatives over time. It has not named its first contracts or said when the first trade will settle through Coinbase Clearing.
The post Coinbase Gets CFTC Approval for US Derivatives Clearinghouse appeared first on Blockonomi.

TLDR
A Senate Democratic report found 84% of 846 sanctioned Iran-linked wallets used USDT exclusively or nearly exclusively.
Two sanctioned Iranian nationals received $603 million in USDT between 2021 and 2025, according to investigators.
Tether says it helped freeze nearly $550 million in Iran-linked USDT during 2026.
The company says it has helped freeze over $4.9 billion in assets globally across more than 2,900 investigations.
Sen. Richard Blumenthal asked Treasury and the Justice Department to investigate Tether’s compliance.
Tether is facing new questions from U.S. Senate investigators over Iran’s use of its USDT stablecoin. A Sept. 28 report found that 84% of 846 sanctioned wallets tied to Iran and regional groups used USDT exclusively or nearly exclusively.
The report came from the Democratic minority staff of the Senate Permanent Subcommittee on Investigations. It is a preliminary report and not a bipartisan finding by the full Senate.
Investigators described USDT as a key part of Iran’s shadow banking network. They asked federal authorities to examine Tether’s sanctions and anti-money-laundering controls.
What the Senate Report Found
Staff reviewed more than five years of blockchain records. The wallets were flagged by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) or Israel’s National Bureau for Counter Terror Financing between June 2021 and August 2026.
Among 757 wallets named by the Israeli agency, 87% carried out more than 80% of their transaction value in USDT. Of 101 OFAC-designated wallets, 57% mainly used the stablecoin. Bitcoin ranked second in both groups.
The report said two sanctioned Iranian nationals, Alireza Derakhshan and Arash Estaki Alivand, received $603 million in USDT between 2021 and 2025. Investigators linked that network to Iranian oil sales and to entities tied to Hezbollah and the Houthis.
Senate investigation finds Iran heavily relied on Tether's USDT to bypass US sanctions.
A Senate investigation found that 84% of more than 800 Iran-linked sanctioned crypto wallets used Tether's stablecoin, WSJ reports. pic.twitter.com/vDzygiRJ5f
— Resist the Mainstream (@ResisttheMS) September 28, 2026
Two wallets attributed to Iran’s central bank received nearly $50 million in USDT in April and May 2025. Three wallets linked to Modex Exchange Company received close to $600 million over several months.
Investigators also questioned how fast Tether froze wallets. Israel flagged 39 wallets tied to a Hezbollah-linked financier in June 2023, but 34 were not frozen until March 2024. By then, more than $34.6 million in USDT had left them.
Tether Defends Its Record
Tether rejected the report’s portrayal. “Tether has consistently demonstrated that USDT is not a haven for sanctioned actors, terrorist organizations or criminal networks,” said CEO Paolo Ardoino.
The company said it helped freeze nearly $550 million in Iran-linked USDT during 2026. That includes more than $344 million across two wallets in April and over $130 million across four wallets in July, all tied to the Central Bank of Iran.
Blockchain firm Chainalysis reviewed the July wallets. It said they had received about $165 million in stablecoins, with $131 million left when Tether froze them.
Tether said it has supported more than 2,900 investigations worldwide, including over 1,600 with U.S. law enforcement. It said it has helped freeze more than $4.9 billion in total, with over $2.4 billion connected to U.S. authorities.
U.S. agencies have increased action on Iran-linked crypto this year. FinCEN warned banks in May about stablecoin use by Iranian facilitators, and OFAC designated the Iranian platform BitBank on Sept. 17.
On Sept. 14, federal prosecutors in New York filed a civil forfeiture complaint seeking about $61 million in crypto. They allege the funds came from black-market sales of sanctioned Iranian oil.
Sen. Richard Blumenthal, the subcommittee’s ranking Democrat, sent the findings to Treasury Secretary Scott Bessent and Attorney General Todd Blanche on Sept. 28. He asked both departments to investigate whether Tether broke federal law. The report said Tether had not answered an earlier June 4 letter seeking records.
The post Tether Faces Senate Scrutiny Over Iran-Linked USDT Wallets appeared first on Blockonomi.

TLDR
Chainlink has launched CCIP 2.0, an upgrade to its Cross-Chain Interoperability Protocol for institutions and asset issuers.
Issuers can now add their own Cross-Chain Verifiers on top of Chainlink’s default security.
New built-in compliance tools support KYC, AML, sanctions screening and transaction limits.
Issuers can choose faster settlement for smaller transfers or wait for full finality on larger ones.
CCIP secures more than $84 billion in cross-chain token value, with $15 billion added in four months.
Chainlink has launched CCIP 2.0, an upgrade to its Cross-Chain Interoperability Protocol. The update gives institutions and digital asset issuers more control over how their assets move between blockchains.
The upgrade is now live and available to all institutions and digital asset issuers. It adds new security, compliance and settlement speed options.
Chainlink says CCIP secures more than $84 billion in cross-chain token value. More than $15 billion of that moved to the protocol in the past four months.
Issuers Can Add Their Own Verifiers
The main new feature is Cross-Chain Verifiers, or CCVs. These let an issuer add its own verification step on top of Chainlink’s default security.
Chainlink’s default Committee Verifier is made up of 16 independent node operators. They must agree on every cross-chain transaction.
CCIP 2.0 is officially live.
The infrastructure for the next $600 trillion in onchain finance is now in your hands.
pic.twitter.com/5fvK4A4X40
— Chainlink (@chainlink) September 28, 2026
With a CCV in place, both the default verifier and the added verifier must sign a transaction before it executes. A bank could run its own CCV or use a third-party provider.
Issuers can also decide when the extra check applies. Chainlink gave the example of requiring more approval for transfers above $1 million.
Third-party providers can charge their own fees through an open marketplace. Infosys, Further Asset Management and Nethermind are building or running CCVs, while Amazon Web Services and Google Cloud offer starter kits.
The upgrade follows a $292 million exploit of the Kelp DAO bridge earlier this year. The new model means an attacker would also need to pass any extra checks an issuer sets, though bridge risk is not removed entirely.
Compliance Rules and Faster Transfers
CCIP 2.0 connects with the Chainlink Automated Compliance Engine. Issuers can apply KYC checks, anti-money laundering controls, sanctions screening and transaction limits to transfers.
A token issuer could limit transfers so only approved addresses receive a regulated asset. Chainlink says most older bridges cannot enforce these rules.
Issuers can also set how fast transfers settle. The default still waits for full finality, but issuers can allow fewer confirmations for smaller payments.
Chainlink is working with Ethlabs to support Ethereum’s planned Fast Confirmation Rule, which aims to confirm transactions within seconds. Aave, Maple and Re have adopted these faster transfers.
Chainlink also rebuilt its developer tools, including its API, SDK and command-line interface. The main Router contract stays the same, so existing integrations do not need to replace it.
Assets that recently moved to CCIP include more than $7.4 billion in BitGo’s WBTC and more than $6.1 billion in Coinbase’s cbBTC. Kraken’s kBTC and Wyoming’s FRNT stable token also joined.
Launch partners and supporters include ANZ Bank, Fidelity International, Deutsche Börse Group’s Crypto Finance, SBI Digital Markets, Sygnum, Taurus, Archax and xStocks.
CCIP recorded $4.9 billion in cross-chain volume in the second quarter of 2026. That was a 353% rise from a year earlier, according to Chainlink’s quarterly review.
The post Chainlink Launches CCIP 2.0 With Custom Cross-Chain Security appeared first on Blockonomi.

TLDR
The CLARITY Act failed a Senate cloture vote 49-50, well short of the 60 votes needed to begin debate.
The White House blamed Democrats, saying they put “political games” over American technology and innovation.
Senator Cynthia Lummis said Republicans added Democratic-requested changes, but every Democrat still voted no.
Democrats said the ethics language did not do enough to address crypto ventures tied to President Trump and his family.
Another Senate vote this year is seen as unlikely, and the SEC and CFTC are writing crypto rules under existing laws.
The White House is blaming Senate Democrats after the CLARITY Act failed to pass in the Senate. The crypto market structure bill fell short in a key procedural vote.
Senator Cynthia Lummis, the lead Republican negotiator on the bill, also criticized Democrats. She said her party added the changes Democrats asked for, but every Democrat still voted against it.
Democrats said the final ethics language did not do enough to address crypto ventures tied to President Donald Trump and his family.
How the Senate Vote Played Out
The Senate failed to invoke cloture on the CLARITY Act in a 49-50 vote. The bill needed 60 votes to move forward to debate.
Every Democrat present voted no. A few Republicans also opposed the bill or switched their votes, including Senators Susan Collins, Josh Hawley, Jerry Moran, and Thom Tillis.
The bill would have created the first full market structure framework for the crypto industry. It aimed to clarify oversight between the SEC and the CFTC.
It also included consumer and bankruptcy protections. The bill set rules for crypto exchanges, brokers, and software developers.
White House and Lummis Respond
“The Democrats are to blame for the failure of the Clarity Act because they put political games over doing what’s best for American technology and innovation,” a White House official said in a statement.
White House, Senator Cynthia Lummis blame Democrats for derailing the CLARITY Act in the Senate
“The Democrats are to blame for the failure of the Clarity Act because they put political games over doing what’s best for American technology and innovation,” a White House… https://t.co/SpB4B9hZBe
— Rednirav (@CryptoRednirav) September 29, 2026
The official added that the Trump administration “agreed to the most comprehensive and wide-ranging ethics provision in history.”
The ethics rules would have barred all federal officials from issuing or sponsoring digital assets. Officials would also have had to sell their holdings or place them in a trust.
White House crypto adviser Patrick Witt said Democrats turned Trump’s crypto businesses into a political weapon. Witt also blamed big banks for helping derail the bill.
Lummis said Democrats “were never truly serious.” She said they “presented demands and the second we met them, they made new demands and moved the goal posts.”
She also claimed Democrats hate President Trump more than they like good policy.
On Monday, Lummis said Democrats wanted every non-decentralized trading protocol held to the same Bank Secrecy Act standards as financial institutions. She said that request was included in the bill.
Republicans said the final text had more than 120 changes requested by Democrats. These included ethics language modeled on a bipartisan Tillis-Gallego proposal and a role for state attorneys general.
With the November midterm elections approaching, another Senate vote on the CLARITY Act this year is widely seen as unlikely.
For now, federal regulators including the SEC and the CFTC are writing crypto rules using existing laws.
The post White House Blames Democrats After CLARITY Act Fails in Senate appeared first on Blockonomi.

TLDR
Eli Lilly shares gained 0.16% in pre-market trading after new Foundayo data.
Foundayo delivered 1.5% greater weight loss than oral semaglutide at 52 weeks.
The treatment reduced A1C by 0.3% more than oral semaglutide in the analysis.
Lilly used ACHIEVE-3 and PIONEER PLUS data for the indirect comparison.
Foundayo could strengthen Lilly’s expanding diabetes and weight-management portfolio.
Eli Lilly shares gained in pre-market trading after the company released new comparative data for its oral diabetes treatment Foundayo. The analysis showed stronger weight loss and blood sugar reductions than oral semaglutide 25 mg. Shares rose 0.16% to $1,187.93 after gaining 0.11% during the previous session.
Eli Lilly and Company, LLY
Eli Lilly Shares Rise After Foundayo Data
The company presented the findings at the EASD annual meeting in Milan. The results compared Foundayo 17.2 mg with oral semaglutide 25 mg across separate clinical studies. The update strengthened Lilly’s growing body of research supporting its oral diabetes treatment.
Lilly used data from its ACHIEVE-3 study and the PIONEER PLUS study for the analysis. Researchers adjusted results for age, gender, starting weight, and baseline A1C levels. The approach allowed researchers to compare treatment outcomes despite lacking a direct head-to-head trial.
At 52 weeks, Foundayo delivered 1.5% greater average weight loss than oral semaglutide 25 mg. It also reduced A1C levels by an additional 0.3% during the comparison period. Alternative statistical methods produced similar results across weight loss and blood sugar measures.
Foundayo Shows Stronger Weight Loss Results
Additional analyses showed Foundayo produced between 1.5% and 2.4% greater weight loss than oral semaglutide. Meanwhile, A1C reductions ranged between 0.3% and 0.6% more than the competing treatment. These findings added support for Foundayo within the expanding oral diabetes treatment market.
The findings did not come from a direct clinical trial comparing both medicines. Lilly relied on an indirect treatment comparison because head-to-head trial results remain unavailable. Direct clinical studies generally provide stronger evidence when comparing separate medicines.
Foundayo also uses a dosing approach without fasting requirements or specific water restrictions. That feature could help distinguish the medicine from some existing oral treatments. Lilly continues expanding its cardiometabolic portfolio across diabetes, obesity, and related metabolic conditions.
Lilly Expands Its Diabetes Treatment Portfolio
Lilly already holds a strong position in metabolic medicine through Zepbound and other tirzepatide-based treatments. Foundayo could broaden that portfolio with another oral treatment option for adults with type 2 diabetes. The latest findings support the company’s wider push into diabetes and weight management.
Competition remains strong across the fast-growing metabolic treatment market. Novo Nordisk offers several semaglutide-based medicines and continues expanding its diabetes and obesity business. Drugmakers are increasingly developing treatments that target both glucose control and body weight.
The latest Foundayo analysis gives Lilly additional clinical evidence supporting its oral treatment program. However, direct testing against oral semaglutide would provide a clearer comparison between both medicines. Future clinical results could further define Foundayo’s position within the competitive diabetes market.

The post Eli Lilly (LLY) Stock: Surge as Foundayo Shows Stronger Weight Loss Than Semaglutide appeared first on Blockonomi.

Key Highlights
Shares of Meta Platforms (META) declined 5% following the announcement of a strategic AI infrastructure partnership.
Firmus Technologies, based in Australia, will provide Meta with GPU computing power across Southeast Asian markets.
This partnership extends Meta’s current deployment of Nvidia GB300 NVL72 systems at Firmus’s Melbourne facility.
Meta’s capital expenditures reached $31.1 billion in the second quarter, with free cash flow dropping 91%.
Analysts maintain a Strong Buy consensus on META stock, projecting approximately 12% potential gains.
Shares of Meta Platforms (META) experienced a 5% decline after the social media giant announced a strategic AI computing collaboration with Firmus Technologies, an Australian infrastructure provider.
The partnership arrangement calls for Firmus to deliver graphics processing unit computing capabilities to Meta. These resources will originate from a series of AI facilities currently under construction throughout Southeast Asia.
The tech giant intends to leverage this computing infrastructure for artificial intelligence research initiatives, model creation, and training operations. Neither party revealed the financial details of the arrangement.
Firmus and Meta announce strategic AI infrastructure deals across Asia-Pacific
— FinancialJuice (@financialjuice) September 28, 2026
Firmus specializes in constructing and managing AI facilities designed for enterprise-scale computational demands. The company delivers high-performance computing solutions, cloud services, and AI-as-a-service platforms to corporate and governmental clients.
Expansion of Current Collaboration
This latest agreement builds upon the existing relationship between Firmus and Meta in the Australian market. Currently, Meta operates Nvidia GB300 NVL72 computing systems at Firmus’s data facility located in Melbourne.
According to Firmus, this Melbourne installation represents the most extensive deployment of Nvidia Blackwell Ultra infrastructure throughout the Southern Hemisphere. The upcoming Southeast Asian installations will utilize Nvidia’s DSX AI Factory architecture.
This architecture will integrate seamlessly with Firmus’s proprietary HyperCube thermal management solution. Given the substantial heat output from AI processors, effective cooling infrastructure plays a critical role in operational efficiency and performance optimization.
The liquid-cooling technology developed by Firmus is engineered to reduce power consumption and minimize operational expenses. This configuration may enable Meta to expand its AI training capabilities more efficiently.
Significant Capital Investment in AI Infrastructure
This Firmus partnership comes as Meta continues to ramp up its capital allocation toward AI-related infrastructure. During the second quarter, Meta’s capital expenditures totaled $31.1 billion.
Throughout that same timeframe, free cash flow plummeted 91% to just $784 million. The company has indicated potential capital spending of up to $145 billion for the current fiscal year.
From Firmus’s perspective, securing this agreement represents a significant milestone in its Asia-Pacific growth strategy. Partnering with a technology leader of Meta’s stature strengthens its position in the infrastructure sector.
The arrangement also provides Firmus with more stable revenue streams from GPU capacity leasing. This financial stability could prove beneficial as the company prepares for its anticipated $5 billion initial public offering on the Australian exchange.
Should this IPO proceed successfully, it would potentially become the second-largest public listing in Australian history. Firmus’s business model centers on developing and operating AI facilities that enable large-scale computing operations for enterprise customers.
Financial analysts continue to assign a Strong Buy consensus rating to META stock. This rating reflects 39 Buy recommendations and six Hold recommendations issued within the last three months.
The consensus price target among Wall Street analysts stands at $798.74 per share. This projection suggests potential upside of approximately 12% from present trading levels.
Shares of Nvidia (NVDA) saw a 2% increase following this announcement. Nvidia’s semiconductor technology remains fundamental to the AI infrastructure strategies of both organizations.
The post Meta Platforms (META) Stock Dips 5% Following Firmus Technologies AI Partnership Announcement appeared first on Blockonomi.

TLDR
Coinbase and Citi expanded their partnership on September 28 with two new stablecoin payment services for businesses.
Coinbase Virtual Accounts, powered by Citi, automatically convert incoming fiat into stablecoins.
Citi clients can accept stablecoin payments through Spring by Citi and receive fiat instead.
The virtual accounts pay 3.75% annual yield on USDC balances.
Neither company shared customer numbers, payment volumes or pricing.
Coinbase and Citi have expanded their partnership to offer new banking and stablecoin payment tools for businesses. Coinbase announced the move on September 28, 2026.
The deal combines Coinbase’s digital asset payment systems with Citi’s regulated banking network. It creates two separate paths between traditional money and stablecoins.
The partnership was first disclosed in October 2025. At that time, the companies said they would focus on fiat pay-ins and pay-outs for Coinbase’s on-ramps and off-ramps.
We're bringing stablecoins into the banking system with @Citi.
That means instant stablecoin acceptance for institutions – all on bank-grade, regulated infrastructure.
The next step for stablecoins becoming everyday money. pic.twitter.com/9ftQ50yl5y
— Coinbase (@coinbase) September 28, 2026
How the Two Payment Paths Work
The first path centers on Coinbase Virtual Accounts. These accounts run on Citi’s Virtual Account Wallet, part of its Banking-as-a-Service offering.
The accounts give businesses features similar to a bank account. Incoming fiat is automatically converted into stablecoins, a capability Citi calls an industry first.
Coinbase Virtual Accounts also pay 3.75% annual yield on USDC balances. This means businesses can earn a return on the stablecoins they hold.
The second path works in the opposite direction. Citi’s institutional clients can accept stablecoin payments through Spring by Citi, the bank’s merchant platform.
Customers pay in stablecoins, and the merchant receives fiat. Coinbase handles the conversion while Citi settles the payment as the bank of record, so merchants do not need to hold stablecoins.
Debopama Sen, Citi’s Head of Payments, Services, said the bank aims to build payment systems that connect traditional and digital networks. Brett Tejpaul, Head of Coinbase Institutional, said the partnership helps deliver faster and cheaper cross-border payments.
What the Companies Did Not Share
Coinbase described the services as available now. However, it did not name any client that has used Spring by Citi for stablecoin payments.
Neither company disclosed customer counts, payment volumes or pricing. They also did not say which currencies or stablecoins are supported for conversion.
The announcement does not confirm whether a single customer can use both payment paths. Coinbase said its infrastructure reaches an enterprise market representing more than 150 million stablecoin holders, but that figure reflects potential reach rather than confirmed users.
Citi brings a large network to the deal. The bank operates in more than 180 countries, and its 24/7 USD Clearing service serves more than 300 bank clients.
Citi Token Services has processed around $1 billion in transactions. The same week, Citi said Token Services is expanding into Japan and the UAE, bringing it to seven jurisdictions.
The yield feature arrives while rules for the GENIUS Act are still under review. The Treasury proposed its implementing regulations in August 2026, and a public comment period is ongoing.
The law takes effect in January 2027. It is not yet clear whether the 3.75% yield structure will be allowed under the final rules.
The new services are launching first in the United States. The companies said more capabilities are expected in the coming months.
The post Coinbase and Citi Launch Stablecoin Payment Tools for Businesses appeared first on Blockonomi.

Key Takeaways
QuantumScape (QS) shares declined 7% Monday, settling at $4.56 after reaching a new 52-week low of $4.54 intraday.
Year-to-date losses have mounted to approximately 56%, with Monday’s decline occurring without any specific corporate catalyst.
TD Cowen lowered its price objective to $6 while maintaining a Hold stance; Wall Street consensus remains at Hold.
Company insiders offloaded more than 321,000 shares valued at nearly $2 million during the previous three months, even as certain institutional investors increased holdings.
Management maintains its 2029 timeline for commercial manufacturing alongside Volkswagen’s PowerCo, while Honda recently entered a new research partnership in June.
QuantumScape (QS) stock tumbled 7% during Monday’s trading session, finishing at $4.56. The shares touched a fresh annual low of $4.54 before the closing bell.
Shares have now declined roughly 56% year-to-date. Monday’s selloff came without any fresh corporate disclosure or announcement.
Market participants appear increasingly focused on the extended timeline separating the company from commercial-scale manufacturing. The battery technology developer has traded publicly for several years without achieving profitability.
Volume patterns also reflected the downward pressure. Approximately 7 million shares traded hands, significantly below the stock’s typical daily volume of nearly 19 million units.
TD Cowen reduced its price objective on QuantumScape from $8 down to $6 during July. The investment firm maintained its Hold recommendation.
Analyst sentiment across Wall Street leans cautious. Five research firms currently assign Hold ratings while one recommends Sell, resulting in a consensus Reduce rating alongside an average price target near $9.47.
Persistent Losses Weigh on QS Stock Performance
QuantumScape continues allocating substantial capital toward battery technology development. The company reported a net loss totaling $98.2 million during Q2.
Looking toward 2026, management anticipates adjusted EBITDA losses ranging between $250 million and $275 million. This represents a considerable financial gap requiring closure.
More encouragingly, QuantumScape finished the quarter maintaining $859 million in available liquidity. Management also reduced its 2026 capital expenditure guidance to a band of $27 million through $37 million.
The partnership arrangement with Volkswagen’s PowerCo underwent revisions during July. Milestone payment commitments decreased from approximately $131 million down to $75 million, although QuantumScape maintains reduced project expenses should compensate for this adjustment.
Customer engagement metrics have trended favorably. Second-quarter billings hit $10.8 million, bringing first-half billings to $21.8 million—already surpassing the $19.5 million recorded throughout all of 2025.
Customer Base Expansion Continues at QuantumScape
Management aims to double cell production from its Eagle Line facility throughout the latter half of 2026. Higher cell volumes translate to expanded testing datasets for both QuantumScape and partner organizations.
Honda formalized a multi-year research collaboration with QuantumScape this past June following technology evaluation. This supplements ongoing development work alongside Volkswagen’s PowerCo division.
QuantumScape maintains relationships with two additional major automotive manufacturers. The company has delivered test cells to one extra carmaker for assessment purposes.
Chief Executive Siva Sivaram reaffirmed the company’s expectation for commercial manufacturing with PowerCo beginning in 2029. This target date represents the critical milestone for business operations.
Company insiders have refrained from purchasing shares during the recent weakness. Chief Technology Officer Timothy Holme disposed of 45,000 units mid-September at an average execution price of $5.09.
Chief Financial Officer Kevin Hettrich sold 9,800 units during July at an average price of $7.28. Combined insider transactions totaled 321,644 units valued at approximately $2 million across the trailing 90-day period.
Institutional investors have adopted a contrasting strategy. Dimensional Fund Advisors expanded its holdings by more than 134% during Q1, while Geode Capital Management similarly increased its stake.
Corporate insiders collectively control roughly 3.93% of outstanding shares. Hedge funds and institutional investors together own approximately 29.87% of the equity.
The post QuantumScape (QS) Stock Plunges to 52-Week Low Amid Growing Investor Skepticism appeared first on Blockonomi.

Key Highlights
Shares of Pershing Square (PS) advanced approximately 5% on September 28, finishing at $59.18, marking a dramatic surge of nearly 49% from September 15.
The investment firm exceeded analyst projections, delivering earnings per share of $0.14 compared to the anticipated $0.12, while revenue reached $68.03 million.
The company initiated Pershing Square Ventures (PSV), a newly established permanent-capital vehicle, following a $30 million draw on its credit facility.
Total assets under management across the organization approached $33 billion at the end of August, generating $54.18 million in management fees during the second quarter.
Analyst consensus leans toward a Hold recommendation, with price targets averaging between $41 and $42, suggesting potential downside from current levels.
Pershing Square (PS) shares surged approximately 5% during Monday’s session, settling at $59.18. The advance extends an impressive rally that has delivered gains approaching 49% since mid-September.
Market activity intensified alongside the price movement. Approximately 512,771 shares traded hands, representing an 18% increase over typical daily volume.
Market participants have been reassessing the valuation as Bill Ackman’s alternative investment firm embarks on an expansion strategy. The initiative largely revolves around a new investment vehicle currently under development.
The firm delivered better-than-expected quarterly results last month. Earnings per share reached $0.14, surpassing the consensus estimate of $0.12 by a two-cent margin.
Quarterly revenue totaled $68.03 million. Market watchers project full-year earnings per share at $0.56.
Shareholders receive a quarterly distribution of $0.122 per unit. On an annual basis, this translates to $0.49, producing a yield around 1%.
New Venture Fund Emerges
Central to the current narrative is Pershing Square Ventures, commonly referred to as PSV. This initiative represents a proposed permanent-capital structure dedicated to investments in mature private enterprises.
On August 12, Pershing Square accessed $30 million through its revolving credit line. These funds will support initial investments within the emerging fund structure.
The strategy follows a clear rationale. Instead of soliciting commitments for an unproven vehicle, the organization can present prospective investors with a functioning portfolio containing established positions.
Aggregate assets under management approached $33 billion at the conclusion of August. Management fees during the second quarter amounted to $54.18 million.
The firm’s capital structure already emphasizes permanence, with 98% of funds locked in structures not vulnerable to withdrawal. PSV would replicate this framework within private equity markets.
Previous fundraising efforts have proven successful. Pershing Square USA, the firm’s domestic closed-end structure, participated in a transaction that secured $5 billion during April.
Analyst Perspectives
Professional opinions show divergence. The consensus tilts toward Hold recommendations, featuring one Buy rating alongside multiple Hold assessments issued within the previous three months.
Consensus price targets cluster in the $41 to $42 range. This stands substantially below present trading levels and suggests potential downside approximating 28% should shares revert to analyst expectations.
Wells Fargo elevated its target to $36 during September while maintaining an Equal Weight stance. Citigroup downgraded to Neutral in August, establishing a $45 objective.
Weiss Ratings implemented a modest upward adjustment, whereas Wall Street Zen shifted to a Sell recommendation in June.
PSV remains in development, leaving questions about ultimate scale and investor appetite unresolved. Performance will also hinge significantly on Ackman’s specific portfolio decisions.
Despite uncertainty, certain institutional players expanded their stakes. Ancora Advisors, Wedbush Securities, and HSBC Holdings each initiated positions throughout the second quarter.
The 50-day moving average rests at $39.80, considerably beneath current price levels. Market capitalization stands at $23.88 billion, accompanied by a price-to-earnings ratio of 426.36.
The post Pershing Square (PS) Stock Surges 5% as Ackman Launches Private Markets Initiative appeared first on Blockonomi.

Qisqacha ko‘rinish
Nike aksiyalari $36 atrofida suzib yuribdi, $35.22 bo‘lgan 52 haftalik eng past ko‘rsatkichga yaqinlashmoqda.
Piper Sandler o‘zining narx bo‘yicha maqsadini $45 dan $38 gacha tushirdi, 1-oktabrdagi daromadlar e’lon qilinishi oldidan Neytral pozitsiyasini saqlab qoldi.
Deutsche Bank o‘z maqsad narxini $37 ga tushirdi, Xitoy bozorlaridagi davom etayotgan zaiflik va marja bosimlarini sabab qilib ko‘rsatdi.
Evercore ISI ulgurji hamkorlar Bahor 2027 buyurtmalarini qisqartirgan bo‘lishi mumkinligini aytmoqda, bu esa ikkinchi yarim yillik prognozlarini pasaytirib qayta ko‘rib chiqishga olib kelishi ehtimoli bor.
Uoll-stritdagi analitiklar o‘rtasidagi kelishuv Hold (Ushlab turish) bo‘lib qolmoqda, narx maqsadlari taxminan $37 dan $47 gacha oraliqda.

Key Takeaways
Micron will unveil its fiscal Q4 results following Wednesday’s closing bell
D.A. Davidson’s Gil Luria maintains a bold $2,000 price forecast, suggesting potential for doubling
Market volatility indicators suggest shares may move roughly 7% following the announcement
Projected sales figure of $50.95 billion represents a staggering 350% annual increase
Expected adjusted profit per share of $31.63 marks more than a tenfold jump from prior year
Shares of Micron Technology (MU) retreated 3% during Monday’s session, settling at $1,053.98. The stock rebounded approximately 2% during Tuesday’s pre-market hours.
This price action unfolds just days ahead of Micron’s scheduled fiscal fourth-quarter financial disclosure, set for Wednesday after trading concludes. Market participants are eager to assess the sustainability of the artificial intelligence-driven memory chip rally.
Derivatives market activity indicates potential volatility of approximately 7% in either direction through week’s end. Such movement could propel shares toward $1,127—approaching the June peak—or send them tumbling below $982.
Since the start of January, Micron’s equity value has expanded nearly fourfold. This remarkable appreciation stems from explosive growth in memory component requirements for AI-focused computing infrastructure.
D.A. Davidson equity analyst Gil Luria maintained his $2,000 valuation target on Monday. This forecast substantially exceeds the consensus Street estimate of $1,520, per Yahoo Finance tracking.
Luria’s projection indicates approximately 100% appreciation potential from present trading levels. His thesis centers on memory’s critical role in both training and deploying AI algorithms.
“Increased memory capacity enables superior model performance, accelerates inference speeds, and extends context window capabilities,” Luria explained. He highlighted robust purchasing signals from leading technology corporations.
Luria referenced Meta’s Muse offering as a compelling recent case study. He noted that this interface innovation has driven greater consumer adoption of emerging AI applications.
Understanding the Memory Supply Shortage
High-bandwidth memory modules and cutting-edge DRAM products designed for AI computing systems continue facing severe supply constraints. Requirements from artificial intelligence infrastructure developers have exceeded manufacturing capabilities.
Micron, along with SK Hynix and Samsung Electronics, has essentially exhausted premium AI memory production capacity extending well into 2026. Major purchasers encompass Nvidia, Microsoft, Amazon, and Meta.
Strong purchasing momentum surrounds Micron’s HBM3E and HBM4 product lines. These components pair with Nvidia and AMD graphics processing units within AI server architectures.
The capacity shortage has elevated memory pricing dynamics. This development has granted manufacturers enhanced pricing authority following extended periods of challenging industry fundamentals.
JPMorgan analyst Jay Kwon observed that the memory total addressable market is expanding through both unit volume and pricing improvements. He anticipates the supply-demand imbalance will continue for an additional two years.
Wednesday’s Earnings Forecast: What Wall Street Anticipates
Financial analysts project Micron will announce $50.95 billion in quarterly revenue for its fiscal fourth period. This figure would represent a 350% expansion versus the comparable year-ago timeframe, based on Visible Alpha consensus.
Adjusted profit per share is forecasted at $31.63. This metric exceeds Micron’s reported performance from the equivalent prior-year quarter by more than ten times.
UBS research team members recently indicated the disparity between memory supply availability and customer demand will continue expanding through 2027. They recommended investors prioritize demand sustainability over near-term price fluctuations.
Luria drew valuation comparisons between Micron and semiconductor peers AMD and Intel. He observed both competitors command price-to-earnings multiples between 40 and 60, whereas Micron trades at roughly 7 times earnings.
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