Blockonomi

TLDR:
DWF Labs affiliates DWF Maas and Falcon Digital sued BitGo for $141 million in London’s High Court.
The lawsuit alleges BitGo sold Falcon Finance and ESPORTS tokens before their agreed lock-up periods expired.
The agreements required a three-month lock-up followed by additional vesting restrictions on token sales.
DWF Labs claims the early sales pushed token prices lower, while BitGo declined to comment.
Two DWF Labs-linked companies have sued crypto custodian BitGo for $141 million, alleging unauthorized sales of locked cryptocurrency tokens. The lawsuit concerns Falcon Finance and ESPORTS tokens, which were allegedly sold before contractual restrictions expired. The dispute comes as BitGo expands its institutional crypto custody services, including arrangements that allow clients to access digital assets through regulated infrastructure.
DWF Labs Accuses BitGo of Breaching Token Lock-Up Agreements
DWF Maas and Falcon Digital filed the lawsuit in London’s High Court, according to the Financial Times. Both companies are affiliated with Dubai-based crypto market maker DWF Labs and are seeking compensation for alleged financial losses. DWF Maas is registered in the British Virgin Islands, while Falcon Digital operates from Panama. The plaintiffs claim BitGo violated over-the-counter agreements involving Falcon Finance (FF) and ESPORTS tokens.
FT: DWF Labs Sues BitGo for $141 Million Over Alleged Early Sales of Locked Tokens
According to the Financial Times, DWF Labs affiliates DWF Maas and Falcon Digital have sued crypto custodian BitGo in London's High Court, seeking $141 million in damages. The plaintiffs allege… pic.twitter.com/DIJyoWQlOf
— Wu Blockchain (@WuBlockchain) October 9, 2026
Under the agreements, BitGo allegedly received discounted tokens in exchange for accepting restrictions on their sale. The contracts included an initial three-month lock-up period, followed by additional vesting schedules controlling when tokens could enter circulation.
However, DWF Labs alleges that BitGo transferred the tokens to cryptocurrency exchanges approximately two months before their scheduled release. The plaintiffs argue that these transfers breached contractual obligations and introduced unexpected selling pressure into markets with limited liquidity.
According to the lawsuit, the alleged sales reduced token prices and lowered the value of assets DWF Labs continued holding. DWF representatives reportedly raised concerns with BitGo during April and May but failed to obtain satisfactory assurances.
The companies have nevertheless indicated they remain open to resolving the dispute through settlement. The disagreement concerns restrictions commonly included in private cryptocurrency transactions, where buyers receive discounts in exchange for delayed selling rights.
BitGo has continued expanding its digital asset operations, including custody and settlement services for tokenized assets. The company declined to comment on the lawsuit, and the allegations remain unproven in court.
DWF Labs Seeks $141 Million as BitGo Expands Institutional Services
DWF Labs claims the alleged early sales caused losses across its remaining Falcon Finance and ESPORTS holdings. The plaintiffs are seeking $141 million, although the precise calculation of damages remains unclear.
The lawsuit also raises questions about whether the disputed transfers directly caused the reported price declines. Establishing those losses would require examining transaction records, market conditions, and the contractual restrictions governing both tokens.
Falcon Finance operates within the decentralized finance sector, while ESPORTS is associated with South Korean blockchain gaming project Yooldo. Both assets were subject to agreements intended to control token circulation during their initial trading periods.
Meanwhile, BitGo has continued developing financial services for institutional cryptocurrency clients. In April, the company introduced portfolio-based crypto lending, allowing institutions to borrow against digital assets, including locked tokens.
The service enables clients to access financing while keeping supported collateral within BitGo’s custody infrastructure. BitGo also expanded its regulated international operations after receiving approval to provide crypto custody services in South Korea in August.
The company has also increased its institutional trading capabilities through acquisitions. In August, BitGo completed its $42.5 million acquisition of NYDIG’s institutional trading business, adding derivatives, financing, and capital markets services.
These developments form part of BitGo’s wider expansion following its public listing earlier in 2026. However, the London lawsuit concerns separate token transactions and the contractual obligations attached to those agreements.
The court will need to determine whether BitGo violated the agreed restrictions and whether the plaintiffs can establish their claimed losses. As of October 9, 2026, no ruling has established liability, and the case remains subject to legal proceedings.
The post DWF Labs Sues BitGo for $141 Million Over Alleged Early Token Sales appeared first on Blockonomi.

TLDR:
Charles Hoskinson rejected Vitalik Buterin’s warning that AI could uncover major weaknesses in lattice-based cryptography.
Hoskinson argued that decades of research have already tested lattice systems against known attacks and shaped current security parameters.
He disputed Buterin’s suggestion to increase lattice key sizes by 10 times, calling the proposal unsupported by attack-cost calculations.
Hoskinson also challenged Ethereum’s hash-only approach and warned against abandoning ML-KEM before a practical attack is found.
Cardano founder Charles Hoskinson has challenged Ethereum co-founder Vitalik Buterin’s warning that artificial intelligence could weaken lattice-based cryptography. Hoskinson argued that decades of security research already account for known attacks, while Buterin’s concerns lack supporting evidence. The disagreement follows Buterin’s warning about AI threats to cryptography, which questioned the long-term safety of several post-quantum security methods.
Charles Hoskinson Rejects Vitalik Buterin’s Warning About Lattice Cryptography
Hoskinson argued that Buterin’s concerns rely on assumptions about mathematical breakthroughs rather than demonstrated weaknesses in existing cryptographic systems. Buterin had suggested that AI could discover previously unknown weaknesses in lattice-based cryptography within two years.
Vitalik is now trying to convince everyone that lattices are bad because he is bag-holding too much hash-based crypto research can't back out. The case against lattices is the GNFS story, a.k.a. a hunch about "structure," and a multiplier pulled out of thin air. None of it has… https://t.co/ryeeCwlENo
— Charles Hoskinson (@IOHK_Charles) October 9, 2026
He compared that possibility with advances in integer factoring that eventually made older RSA security assumptions less reliable. However, Hoskinson rejected the comparison, arguing that factoring breakthroughs depended on specific mathematical properties that researchers had identified and exploited.
He explained that lattice cryptography has undergone decades of research, including improvements in algorithms used to attack these systems. According to Hoskinson, ML-KEM and ML-DSA’s security parameters already account for established attacks and their computational costs.
He also challenged Buterin’s suggestion that lattice-based encryption keys might need to become ten times larger. “Multiply key sizes by ten is numerology,” Hoskinson wrote, arguing that parameter changes must follow measurable improvements in attack methods.
He explained that a 20% improvement in attack efficiency could require approximately 25% larger dimensions under certain assumptions. The dispute comes as Cardano continues its own research into quantum-resistant security. In May, Hoskinson confirmed that Cardano was preparing a governance strategy addressing future quantum computing threats.
Hoskinson also defended the existing process for testing cryptographic systems, pointing to earlier attacks discovered during security reviews. He cited the failures of Rainbow and SIKE, two post-quantum candidates whose weaknesses emerged during public evaluation.
Those cases showed how researchers can spot vulnerabilities before affected cryptographic methods are widely deployed. Hoskinson maintained that new AI-assisted attacks should undergo similar testing before developers abandon established security approaches.
Hoskinson Questions Ethereum’s Hash-Based Security Strategy
The disagreement also concerns Ethereum’s growing preference for hash-based cryptography, which Buterin considers less exposed to certain mathematical attacks. Buterin has argued that AI could accelerate mathematical research enough to weaken lattice-based systems previously considered resistant to quantum computers.
His Ethereum security roadmap places greater emphasis on hash-based signatures, including WOTS and SPHINCS. However, Hoskinson disputed the assumption that hash-based systems are inherently safer because they appear to contain less exploitable mathematical structure.
Vitalik pointed to historical attacks against MD5 and SHA-1, arguing that hash functions have also suffered serious security failures. Hoskinson further questioned Ethereum’s reliance on Poseidon and Poseidon2, which use mathematical structures designed for efficient cryptographic proofs.
He argued that these designs also require careful security analysis because their algebraic properties could become targets for future attacks. The criticism comes as Ethereum continues developing quantum-resistant upgrades alongside improvements to privacy and transaction verification.
Buterin has also recommended caution when using older wallet addresses, although he warned against rushing into potentially unsafe migrations. Hoskinson raised a separate concern about discouraging the adoption of lattice-based encryption before researchers identify a practical weakness.
He pointed to hybrid ML-KEM deployments in browsers and messaging applications, which combine established encryption with post-quantum protection. According to Hoskinson, unnecessary doubts about these systems could delay upgrades while organizations continue relying on older cryptographic methods.
The debate comes as Ethereum developers work toward post-quantum security upgrades planned through 2029. Hoskinson maintained that security decisions should follow tested attacks, measurable costs, and practical deployment requirements rather than predictions about AI breakthroughs.
The post Cardano’s Charles Hoskinson Challenges Vitalik Buterin Over AI Threats to Crypto appeared first on Blockonomi.

TLDR
SpaceX (SPCX) stock gains 4.10% to $167.15 in Friday’s pre-market trading.
Apollo and PIMCO emerge in talks over SpaceX’s proposed chip financing deal.
SpaceX’s nationwide spectrum acquisition supports broader Starlink Mobile coverage.
SpaceX seeks $40 billion to fund Nvidia chip purchases and expand AI capacity.
AT&T, T-Mobile, and Verizon shares decline following SpaceX’s spectrum deal.
Space Exploration Technologies Corp. (SPCX) stock climbed 4.10% to $167.15 in Friday’s pre-market trading, gaining $6.58 after Thursday’s 4.19% decline. The recovery followed reports of a $40 billion Nvidia chip financing plan and a nationwide wireless spectrum acquisition. Both developments support SpaceX’s expansion into artificial intelligence infrastructure and mobile communications.
Space Exploration Technologies Corp., SPCX
SpaceX Acquires Nationwide Spectrum for Starlink Mobile
SpaceX announced an agreement Thursday to acquire nationwide low-band wireless spectrum licenses from Grain Management. The acquisition covers up to 14 megahertz of paired spectrum within the 800 MHz frequency band. Consequently, the company expects to improve Starlink Mobile coverage across the United States.
The new frequencies can penetrate buildings and other obstacles more effectively than higher-frequency wireless signals. SpaceX plans to combine satellite connectivity with terrestrial infrastructure to deliver broader mobile coverage. However, the company must obtain final Federal Communications Commission approval before completing the transaction.
The announcement also increased pressure on established American telecommunications companies during Thursday’s extended trading session. AT&T shares dropped 5.7%, while T-Mobile declined 5.9% and Verizon fell 5.3%. These declines followed SpaceX’s announcement of plans to compete more directly in domestic mobile services.
SpaceX Expansion Builds on Public Listing and Satellite Growth
SpaceX entered public markets in June 2026 through an initial public offering that raised approximately $86 billion. Since then, the company has continued expanding its financing activities and satellite communications operations. Its latest initiatives extend beyond traditional rocket launches and commercial space transportation.
Federal regulators approved plans for 15,000 next-generation Starlink Mobile satellites designed to support direct-to-device connections. The proposed network would complement the newly acquired spectrum and existing satellite infrastructure. Together, these assets could expand connectivity across rural areas and densely populated markets.
SpaceX also faces substantial funding requirements as its computing and telecommunications projects expand. The Nvidia financing remains under discussion, while the wireless spectrum transaction requires regulatory clearance. Both developments represent significant additions to the company’s infrastructure investment plans.

SpaceX Seeks $40 Billion for Nvidia Chip Purchases
SpaceX is negotiating with banks and asset managers to secure $40 billion for Nvidia artificial intelligence processors. Reuters reported that the company plans to combine approximately $10 billion in bank loans with $30 billion in investment-grade debt. The financing would support the company’s growing computing infrastructure requirements.
SpaceX has approached PIMCO regarding the financing arrangements. Apollo Global Management could lead the transaction and distribute the debt across financial institutions. However, the companies have not publicly confirmed the proposed financing structure.
The initiative follows Musk’s plans to expand computing capacity across his artificial intelligence operations. His xAI business aims to more than double Nvidia chip deployment at its Colossus 2 facility by December. Morgan Stanley estimates that artificial intelligence infrastructure will require $1.5 trillion in external financing by 2028.


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TLDR
MARA Holdings transferred 996.105 BTC worth approximately $81.13 million to Galaxy Digital.
Blockchain records have not confirmed whether Galaxy Digital sold the transferred Bitcoin.
MARA sold 23,093 BTC for approximately $1.6 billion during the first half of 2026.
The company’s Bitcoin holdings stood at 35,577 BTC on June 30, down from 53,822 BTC at the end of 2025.
MARA is expanding into AI and high-performance computing while managing its Bitcoin treasury and debt obligations.
MARA Holdings transferred 996 Bitcoin, valued at $81.13 million, to a wallet linked to Galaxy Digital, according to blockchain tracker Lookonchain. The October 9 movement follows months of Bitcoin sales by the miner. However, available records do not establish whether Galaxy Digital sold the coins.
Transfer Raises Questions About Bitcoin Sale
Lookonchain identified the sending address as MARA Miner and the receiving address as Galaxy Digital. The transaction involved 996.105 BTC. Galaxy Digital offers trading and custody services, so a transfer to its wallets does not necessarily represent a sale.
It seems that Bitcoin mining company MARA Holdings (@MARA) also dumped 996 $BTC($81.13M).https://t.co/fTOd8FQMxR pic.twitter.com/xr6Bk1km4N
— Lookonchain (@lookonchain) October 9, 2026
Neither company had explained the purpose of this movement in the reports reviewed. The transfer represented about 2.8% of MARA’s 35,577 BTC holdings reported for June 30, although that balance may have changed since then.
MARA Holdings Reduces Bitcoin Treasury
MARA held 53,822 BTC at the end of 2025, compared with 35,577 BTC on June 30. Recent data on Bitcoin miner selling pressure showed fewer extreme outflows across the wider mining sector.
MARA Holdings sold 23,093 BTC during the first six months of 2026, raising approximately $1.6 billion. Its filing said these sales helped fund operations, manage cash needs and support future investments.
The company used $912.8 million to buy back about $1 billion in convertible debt. Its June holdings also included 4,742 BTC lent to third parties and 4,528 BTC pledged as loan collateral.
Bitcoin Market Faces Fresh Pressure
Bitcoin recovered above $82,000 on Friday after declining during the week. Separately, US spot Bitcoin exchange-traded funds recorded $484.9 million in withdrawals on October 7. Those figures describe broader market conditions, not the purpose of MARA’s transaction.
MARA Holdings stock gained about 2% before Friday’s opening bell, approaching $10. The share movement followed Bitcoin’s rebound, although the transfer has not been tied to any confirmed sale.
AI Expansion Remains a Corporate Priority
MARA Holdings is increasing its focus on artificial intelligence and high-performance computing. Second-quarter revenue fell 27% to $174.9 million, while the company recorded a $611.3 million net loss.
The strategy comes amid expanding demand for AI data centers and computing infrastructure, with new construction and technical hiring accompanying industry investment. MARA has identified digital infrastructure as its primary growth focus.
For now, the latest wallet movement adds to its record of active Bitcoin management. The company has not disclosed whether these particular coins supported trading, custody, or financing activity.
The post MARA Holdings Sends $81M to Galaxy—What Next? appeared first on Blockonomi.

TLDR
MSTR stock closed at $151.47 on October 8, nearly 11% below its October 2 intraday high.
Bitcoin retreated from $87,000 toward $81,000, adding selling pressure to crypto-linked stocks.
Strategy purchased 334 BTC for $28.7 million, raising its total holdings to 848,000 BTC.
Strategy’s market-cap Bitcoin valuation ratio fell to 0.98, indicating a roughly 2% discount to its Bitcoin holdings.
Investors are watching MSTR stock support near $147 and Bitcoin’s $80,000 price level.
Strategy Inc. (NASDAQ: MSTR) shares fell as Bitcoin retreated from recent highs, putting MSTR stock under renewed selling pressure. The stock closed October 8 at $151.47, down 1.24%, after a two-day decline. Strategy was formerly known as MicroStrategy.
MSTR Stock Erases Earlier Gains
Strategy shares traded between $147.37 and $153.63 Thursday, with about 23.7 million shares changing hands. The closing price stood nearly 11% below the October 2 intraday high of $170.17. Shares also reached $168.73 on October 6.
The retreat followed Bitcoin’s failure to hold gains near $87,000. The cryptocurrency fell below $84,000 on October 7 and closed near $81,700 Thursday, according to market data. Bitcoin had reached roughly $87,200 on October 2.
Selling intensified as leveraged positions closed across crypto exchanges. Reported Bitcoin liquidations exceeded $166 million on October 7. Recent coverage tracked Bitcoin’s decline toward $81,000 following rejection near $86,500. Bitcoin briefly approached $80,400 early Friday before recovering.
Strategy Expands Bitcoin Holdings
Strategy reported buying 334 Bitcoin for $28.7 million between October 1 and October 4. Its October 5 filing showed an average purchase price of $85,838.80, including fees. The purchase came amid renewed buying during September.
The purchase raised total reserves to 848,000 Bitcoin. Strategy said its holdings cost $63.97 billion overall, averaging $75,440.70 per coin. That represents more than 4% of Bitcoin’s fixed supply. The company also estimated a $20.91 billion third-quarter digital asset gain.
To finance Strategy’s latest Bitcoin purchase, the company raised $15.7 million through share sales and used $13 million in cash. It also repurchased 740,634 preferred shares for $73.7 million.
Strategy Shares Lose Bitcoin Premium
MSTR stock also lost ground against the value of Strategy’s Bitcoin reserves. Its market-cap net asset value ratio reached 0.98 on October 8, according to BTCorMSTR, compared with roughly 1.2 during September’s rally.
The stock’s recent price swings have exceeded Bitcoin’s. Data through October 8 placed its 30-day Bitcoin correlation at 0.88 and its beta at 2.28, showing stronger daily movements.
Key Prices Investors Are Watching
For Bitcoin, traders are tracking $80,000 as nearby support and $86,500 to $87,200 as resistance. A separate Bitcoin support analysis identified lower levels if the cryptocurrency fails to recover.
For MSTR stock, $147.37 marks Thursday’s low, while $168 to $170 covers recent highs. Further Bitcoin price changes could influence both Strategy’s share price and the market value of its holdings.
The post Strategy (MSTR) Stock Faces Fresh Test After Bitcoin Price Selloff appeared first on Blockonomi.

TLDR
Humana reports 95% of Medicare Advantage members enrolled in four-star or higher plans for 2027.
Humana stock climbs approximately 15% in premarket trading following improved Medicare Advantage Star Ratings.
Six Medicare Advantage contracts receive 4.5 stars, while 12 contracts earn four-star ratings for 2027.
Humana reports 534,000 additional preventive visits and improved screening numbers across several major health conditions.
Medicare annual enrollment begins October 15, with newly selected coverage taking effect on January 1, 2027.
Humana Inc. (NYSE: HUM) reported better 2027 Medicare Advantage Star Ratings on Friday. The announcement drew attention to Humana stock as investors reviewed the improved scores.
The company said 95% of its Medicare Advantage members belong to plans rated at least four stars. 4.5-star plans cover 42% of Humana members.
Humana Stock Rises Following Ratings Update
Humana stock rose about 15% in Friday’s premarket session, Reuters reported. Federal ratings determine which plans qualify for quality-based bonus payments.
The share of members in four-star or better plans rose to 20% for 2026. JPMorgan analysts had expected between 60% and 70%. Lower scores previously limited Humana’s eligibility for certain government payments tied to quality.
Separately, European healthcare stocks rose October 6 after clinical trial news. That market move involved different companies and had no connection to Humana’s ratings.
More Medicare Contracts Earn Higher Scores
Humana counted six Medicare Advantage contracts with 4.5 stars and 12 with four stars for 2027. The total exceeded last year by 11 contracts.
The insurer’s prescription drug contract also earned 4.5 stars. Medicare officials grade plans annually on care quality, customer service, and members’ experiences.
Separately, HeartBeam received FDA breakthrough device status for home heart attack detection. The designation does not constitute final approval or involve insurance ratings.
Preventive Care Measures Show Gains
Humana reported 663,000 more completed care opportunities than a year earlier. Another 534,000 members attended annual preventive visits after its outreach efforts.
Its outreach helped 28,000 people complete overdue mammograms. Those screenings identified 600 previously undetected breast cancers, Humana said.
Another 93,000 members completed overdue colorectal screenings, detecting 100 cancers or precancerous cases. Among people with diabetes, 73,000 received overdue eye exams, identifying 17,000 previously undetected diagnoses of related eye disease.
Enrollment Opens for 2027 Plans
Medicare Advantage and prescription drug plan enrollment runs from October 15 through December 7, 2026. Eligible people can compare ratings before choosing coverage. CMS reported 71% of Medicare Advantage drug plan enrollees would have contracts rated four stars or higher.
Separately, Haemonetics stock gained October 8 following plans for equipment rollout across U.S. plasma centers. The company makes medical devices, not Medicare plans.
Coverage selected during annual enrollment starts January 1, 2027. Humana’s new scores will appear alongside other information for people comparing available plans.
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TLDR
Micron stock gained during Friday’s premarket session as broader technology market sentiment improved.
D.A. Davidson raised Micron’s price target to $3,000 from $2,100, maintaining its Buy rating.
Analyst Gil Luria expects growing AI memory demand to support Micron’s earnings over several years.
Longer supply agreements could make Micron’s revenue more predictable and reduce exposure to traditional memory cycles.
December 9 marks a possible turning point for Micron’s share buyback plans as restrictions expire.
Micron (MU) stock advanced in Friday’s premarket trading as U.S. futures recovered and investors reviewed a revised analyst forecast. Nasdaq futures rose 0.89%, while S&P 500 futures gained 0.44%, pointing to a stronger opening after Thursday’s technology selloff.
Micron Stock Tracks Broader Market Rebound
Micron Technology (NASDAQ: MU) joined a wider recovery in technology shares before Friday’s opening bell. Micron stock had declined Thursday as concerns about OpenAI’s reported revenue weighed on several chipmakers.
The latest move followed an uneven week for semiconductor stocks. Investors remain focused on whether demand for AI hardware can sustain high memory prices and recent profit growth. Micron supplies memory used in servers that support large, complex AI models.
D.A. Davidson Raises Micron Price Forecast
On October 7, D.A. Davidson analyst Gil Luria increased his 12-month Micron price target to $3,000 from $2,100. He maintained a Buy rating. Separately, AMD shares fell despite strong data center demand on Thursday, showing mixed trading across the sector.
Luria told CNBC that Micron traded near six times expected earnings, compared with about 40 times or more for AMD and Intel. His target applies roughly 19 times forecast fiscal 2027 earnings. Such a change would require investors to pay more for each dollar of expected profit.
AI Changes Demand for Memory Chips
Luria said memory now plays a direct role in how quickly AI systems process information and manage longer requests. The industry continues expanding its computing capacity, although Nvidia stock fell during Thursday’s session even as the company announced new research spending.
He expects major customers, including Microsoft, Amazon and Google, to sign more long-term supply agreements. Luria forecast that five-year deals could eventually cover over half of Micron’s products, reducing its reliance on shorter sales contracts. These are analyst expectations, not confirmed contracts for all future shipments.
Buybacks Offer Another Potential Factor
Luria also pointed to December 9, when restrictions tied to U.S. chip funding are due to end. Micron has discussed using excess cash for share repurchases. Meanwhile, Amazon faces questions over rising AI investment costs, even as it expands data center spending.
Micron stock remains tied to customer spending and memory prices. Supply shortages have supported earnings, but the chip industry has experienced sharp downturns before. Investors will also watch whether future buybacks proceed as planned and whether the company can maintain its current profit margins.
The post Micron (MU) Stock Rises Before a Key Buyback Deadline appeared first on Blockonomi.

TLDR
Delta Air Lines (DAL) stock drops 3.50% despite reporting $1.5B in Q3 profit.
Delta reports $20.2B in Q3 revenue as strong travel demand supports earnings.
Adjusted earnings reach $1.72 per share despite rising fuel costs in 2026.
Delta expects $4.5B in annual pre-tax profit despite $6B in higher fuel costs.
Delta targets $2.5B in free cash flow while maintaining its 2026 EPS outlook.
Delta Air Lines (DAL) stock fell 3.50% to $79.30 in Friday’s pre-market trading despite reporting strong third-quarter earnings. The airline recorded $1.5 billion in adjusted pre-tax profit for the September quarter, matching last year’s performance. However, higher fuel expenses continued to pressure operations as Delta outlined its financial expectations for the remainder of 2026.

Delta Air Lines Reports Strong Third-Quarter Financial Results
Delta reported third-quarter GAAP operating revenue of $20.2 billion, supported by continued demand for air travel. The company generated $1.5 billion in operating income, representing an operating margin of 7.2%. Meanwhile, GAAP pre-tax income reached $1.1 billion, with earnings per share totaling $1.15.
On an adjusted basis, Delta recorded operating revenue of $17.6 billion and operating income of $1.7 billion. The airline achieved a 9.4% adjusted operating margin and an 8.5% adjusted pre-tax margin. Adjusted earnings per share reached $1.72, reflecting the company’s performance despite elevated operating costs.
Delta also generated $1.7 billion in operating cash flow during the September quarter. Furthermore, the airline accumulated $1.9 billion in free cash flow during the first nine months. These results reflected sustained travel demand and the company’s efforts to maintain profitability.
Higher Fuel Expenses Challenge Delta’s Profitability
Delta continues to face substantial fuel expenses despite maintaining strong demand across its travel network. Chief Executive Officer Ed Bastian attributed the company’s resilience to operational improvements and sustained customer demand. He also highlighted the airline’s ability to manage higher costs while maintaining its financial performance.
The airline expects approximately $6 billion in additional fuel costs during 2026. However, management projects roughly $4.5 billion in adjusted pre-tax profit for the full year. Delta continues prioritizing profitable growth, stronger cash generation, and improved financial efficiency.
Fuel assumptions also influence Delta’s outlook for the December quarter. The company projects an all-in fuel price of approximately $4.25 per gallon during the period. This estimate includes a refinery benefit of approximately $0.40 per gallon.
Delta Maintains Full-Year 2026 Financial Guidance
Delta expects full-year adjusted earnings per share between $5.10 and $5.60. The airline also projects an operating margin ranging from 7% to 9%. Additionally, management forecasts approximately $2.5 billion in free cash flow for 2026.
For the December quarter, Delta anticipates adjusted earnings per share between $1.15 and $1.65. The company based its quarterly fuel assumptions on forward market prices recorded October 2. Meanwhile, its full-year outlook includes gross leverage of approximately 2.2 times.
Delta continues targeting mid-teens margins and returns under its longer-term financial framework. The airline also seeks durable free cash flow and gross leverage approaching one times. Nevertheless, Friday’s pre-market stock decline contrasted with its reported earnings and projected profitability.

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TLDR:
Digital asset funds attracted $11.1 billion since mid-July, but weekly inflows have slowed.
The 10-year Treasury yield topped 5.3%, while the 30-year yield reached 5.7%.
October rate-hike odds fell to 23% from 71% three weeks earlier.
CoinShares says sustained fund inflows could reveal whether fiscal concerns strengthen Bitcoin demand.
CoinShares says the Bitcoin bond market connection could become more important as digital asset fund inflows lose momentum. The funds attracted approximately $11.1 billion since mid-July, but demand has slowed this week.
Meanwhile, the 10-year U.S. Treasury yield has climbed above 5.3%, while the 30-year yield has reached 5.7%. Both yields are near their highest levels in more than two decades. CoinShares argues that concerns about U.S. fiscal sustainability could eventually influence Bitcoin more than Federal Reserve policy.
Bitcoin Bond Market Signals a Shift Beyond Fed Policy
U.S. government bond yields have continued rising despite Treasury Department efforts to support the market. The department doubled long-term liquidity-support buybacks in August to at least $4 billion per operation. Those measures remain in place through early November, but yields have continued climbing.
The report suggests investors remain concerned about the government’s underlying fiscal position. Treasury Secretary Scott Bessent has acknowledged that the Treasury cannot simply control the bond market. He has also pointed to higher oil prices as a factor behind rising yields.
September was the worst month for U.S. government bonds in four years. During that period, the 10-year Treasury yield increased by more than 50 basis points. Such increases typically pressure Bitcoin by making traditional fixed-income investments more attractive.
However, CoinShares identifies a different possibility. If rising yields reflect concerns about government debt rather than stronger economic growth, investors could reconsider Bitcoin’s role. Instead of treating BTC purely as a risk asset, they might increasingly view it as an alternative to government-issued money.
That distinction matters because the same market movement can carry different implications for cryptocurrency. Yields rising alongside stronger growth can tighten financial conditions and weigh on speculative assets.
Rising yields driven by fiscal concerns could strengthen the investment argument for assets outside the traditional financial system.
CoinShares: Bond Market May Matter More Than the Fed for Bitcoin as Fund Flows Cool
CoinShares said on October 8 that digital asset fund inflows have slowed markedly this week after totaling about $11.1 billion since mid-July. Meanwhile, the 10-year U.S. Treasury yield has risen… pic.twitter.com/PIwQxWcsll
— Wu Blockchain (@WuBlockchain) October 9, 2026
Treasury Yields and Their Growing Influence on Bitcoin
The Federal Reserve faces conflicting signals from employment and inflation.
September payrolls came in considerably weaker than expected, reducing the market-implied probability of an October rate hike. That probability fell to 23%, down from 71% three weeks earlier.
However, inflation remains a concern for policymakers. Higher energy prices, partly linked to the Iran conflict, continue adding pressure. Meanwhile, purchasing managers’ indexes still indicate economic expansion, and consumer spending has held up relatively well.
These conflicting signals help explain why weaker employment data has not triggered a decisive Bitcoin rally. Investors must weigh softer labor conditions against persistent inflation and resilient economic activity.
For Bitcoin traders, the distinction between monetary policy and bond-market pressure is increasingly important. Lower expectations for rate hikes do not automatically guarantee stronger BTC performance. Rising Treasury yields can still tighten financial conditions, even when markets anticipate a less aggressive Federal Reserve.
Fund flows therefore offer an important signal to monitor. CoinShares reports that digital asset investment products have attracted $11.1 billion since mid-July, although momentum has weakened recently.
The report attributes earlier demand partly to investors buying at depressed valuations, alongside growing concerns about U.S. fiscal sustainability.
Whether that second factor becomes a stronger investment driver remains uncertain. Sustained inflows would provide evidence that investors are allocating more capital to digital assets despite elevated bond yields.
The post Bitcoin Faces a New Macro Test as Crypto Fund Inflows Slow appeared first on Blockonomi.

TLDR:
Bitcoin has fallen 7% from its highs as government transfers and elevated unrealized profits weigh on sentiment.
U.S. government Bitcoin holdings fell by 17,468 BTC since October 6, leaving 174,481 BTC tracked.
Short-term holders sent 45,600 BTC to exchanges, including 29,100 BTC transferred at a loss.
Bitcoin must defend $74,600 to preserve its early bull-market structure, according to CryptoQuant.
Bitcoin is trading at $82,529.31 after falling 3.96% over the past seven days. The decline follows a 7% pullback from recent highs, according to CryptoQuant. The analytics firm linked the sell-off to U.S. government Bitcoin transfers and elevated unrealized profits.
Short-term holders also sent 45,600 BTC to exchanges within 24 hours, increasing potential selling pressure. Traders are now watching $74,600, a key level that could determine whether Bitcoin’s early bull-market structure remains intact.
Why Bitcoin Is Facing Renewed Selling Pressure
CryptoQuant reported that tracked U.S. government Bitcoin holdings declined by 17,468 BTC since October 6. The transfers were valued at approximately $1.44 billion.
Daily movements included 569 BTC on October 6, 4,632 BTC on October 7, and 12,267 BTC on October 8.
The tracked government balance now stands at 174,481 BTC. These transfers coincided with Bitcoin’s pullback, although the available data does not establish that every transferred coin was sold.
Bitcoin is down 7% from its highs.
U.S. Government BTC transfers sparked the pullback, but the market was already vulnerable due to elevated unrealized profits.
A thread pic.twitter.com/TShjmYfyjH
— CryptoQuant.com (@cryptoquant_com) October 9, 2026
CryptoQuant also identified elevated unrealized profits as a source of market vulnerability. When investors hold substantial unrealized gains, price weakness can encourage profit-taking. That selling can intensify declines when buyers struggle to absorb available supply.
Short-term holder activity adds another concern. These investors transferred 45,600 BTC to exchanges within just 24 hours. Of that amount, 29,100 BTC moved at a loss, marking the largest loss-side exchange flow since June’s pre-rally consolidation.
Exchange transfers do not automatically mean investors have sold their Bitcoin. However, large inflows can signal greater readiness to trade or reduce exposure. Loss-making transfers also suggest that some recent buyers face pressure to exit their positions.
Can Bitcoin Hold $74,600 as BTC Price Tests Support?
CryptoQuant identified $74,600 as the short-term holder realized price. This metric represents the average acquisition price of BTC held by short-term investors. It helps traders assess whether recent buyers are collectively holding coins above or below their estimated cost basis.
According to CryptoQuant, holding above this level would preserve the early bull market structure. A decisive break below it could increase the risk of a deeper correction.
Technical analyst Dami-Defi identified $82,500 as Bitcoin’s immediate decision point. The level aligns with an earlier May high and represents nearby support. Bitcoin recently reached $86,996 before retreating to approximately $82,416 in the analyst’s assessment.
$BTC’s weekly recovery is running into resistance around $86.5K–$87K, beneath the broken rising trendline.
I see this as a recovery testing overhead supply, with the current candle pulling back to $82,416 after reaching $86,996.
The immediate decision point is roughly $82.5K,… pic.twitter.com/voe2zArGlY
— Dami-Defi (@DamiDefi) October 9, 2026
A weekly close below $82,500 could open a move toward $76,500, with approximately $74,000 providing another support area. These levels are technical scenarios rather than confirmed price targets.
Momentum indicators offer some counterbalance to the selling pressure. Dami-Defi reported a weekly Relative Strength Index of 57.77, while the MACD histogram remained positive despite contracting.
Bitcoin would need to reclaim the $87,000 region to strengthen the recovery case, with 95,000–96,000 emerging as a potential upside area.
Lennaert Snyder highlighted additional liquidity zones following more than $1 billion in long liquidations. He identified potential resistance near $84,000, $85,000, $87,400, and $90,000.
He also noted that a sweep below $80,000 followed by a strong recovery could present another trading setup.
For now, Bitcoin faces competing forces: rising selling pressure and technical support that could stabilize prices. The $82,500 area is the immediate test, while $74,600 remains the key threshold for assessing short-term holder profitability and broader market structure.
The post Bitcoin Price Analysis: Why $74,600 Is the Key BTC Support Level appeared first on Blockonomi.

TLDR:
Thailand Bitcoin ETF listings will begin under a domestic framework on October 16, giving investors access to spot Bitcoin and Ethereum through the SET.
The new rules require passive management, at least 80% net exposure to one digital asset, and custody through SEC-supervised providers.
Thai securities firms cannot provide margin loans for purchases, while retail clients cannot access overseas digital asset ETFs through local brokers.
Mutual funds and private funds may invest in Thailand-domiciled digital asset ETFs, but existing investment limits and the initial asset list remain unchanged.
Thailand has approved domestic listings for spot Bitcoin and Ethereum exchange-traded funds, with the framework taking effect on October 16. The Thailand Bitcoin ETF framework gives investors access through the Stock Exchange of Thailand (SET). It avoids direct use of cryptocurrency exchanges. The Thailand Securities and Exchange Commission (SEC) limited the first phase to Bitcoin and Ethereum.
It requires passive management, supervised custody, and risk disclosures. The decision creates a regulated route for digital asset exposure while restricting margin lending and retail access to overseas products. Thailand Bitcoin ETF listings will open gradually under rules designed to control custody risks.
Thailand Bitcoin ETF Rules Set Passive Exposure and Custody Standards
Under the Thailand Bitcoin ETF framework, eligible funds must track one underlying digital asset through passive strategies. Net investment exposure to that asset must equal at least 80% of average net asset value during the fiscal year. The rule keeps the products focused on their stated holdings and limits active portfolio changes.
The initial list contains Bitcoin and Ethereum. The SEC has not opened the SET route to other tokens. Each fund must operate as a Thailand-domiciled product and list exclusively on the SET. That structure gives investors a securities-market channel while keeping product oversight within Thailand.
Fund assets must remain with digital asset custodians supervised by the SEC. Managers must disclose the fund structure, investment method, service providers, and key risks. Investors must also receive an explanation of the product’s features and risks before trading.
The requirements place custody and disclosure duties on regulated parties. They also separate ETF access from direct exchange use. Investors can obtain exposure through brokerage accounts, but the funds still depend on the performance of the underlying assets. The rules do not remove volatility or other market risks associated with Bitcoin and Ethereum.
Thailand Bitcoin ETF Access Faces Limits on Overseas Products
Investor protections also shape the Thailand Bitcoin ETF rollout. Securities firms cannot extend margin loans for purchases. Investors must acknowledge product information before trading, adding a suitability and education step to the account process.
The rules also change how existing investment vehicles can participate. Thai mutual funds and private funds may invest in digital asset ETFs established in Thailand. They previously could invest only in overseas digital asset ETFs. Existing investment limits remain unchanged for these funds.
The SEC has restricted overseas access during the initial phase. Thai securities firms cannot broker overseas digital asset ETF investments for retail clients. Direct investment in overseas funds remains limited to institutional investors and ultra-high-net-worth individuals. Depositary receipts linked to overseas digital asset ETFs will also not be issued or sold at this stage.
Attakrit Chimphlapibul, co-founder of Bitkub Group, said the policy follows the path set by United States spot ETF launches. Those products created a regulated route for institutional and retail participation in that market.
Thailand’s SEC said market participants broadly supported regulated access during a public consultation earlier this year. The regulator said domestic infrastructure, investor protection, and education should come before wider public access.
The Thailand Bitcoin ETF framework therefore combines approval with a narrow opening. It permits domestic listings but excludes leverage, overseas retail brokerage, and alternative products. The approach allows the SEC to assess custody, trading, and investor understanding before expanding eligible assets or easing distribution rules.
The move also places Thailand among Asian markets building regulated digital asset channels. Hong Kong and the United States already host spot Bitcoin and Ethereum products. Thailand’s framework differs through its initial limits on overseas exposure and its requirement for passive funds. Further changes will depend on market conditions and infrastructure maturity.
Thailand Bitcoin ETF listings will remain domestic initially, while broader access will depend on regulatory review and infrastructure readiness.
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TLDR:
Gemini Custody now opens every net-new account on MPC infrastructure, with existing users to migrate.
Withdrawals now typically complete in minutes, ending the wait for legacy daily runs for customers.
Support expands to Tron, SUI, MON, Hype, Arbitrum and XRPL, along with newer signature schemes.
Customers approve transfers with their own passkey while assets stay with Gemini Trust Company, LLC.
Gemini Custody has transitioned to a multi-party computation (MPC) protocol for its institutional custody service. The company announced that every new account now opens with MPC infrastructure.
Existing customers will move to the new system through a coordinated migration. According to Gemini, withdrawals now typically complete in minutes.
The upgrade also adds support for more blockchains and lets customers approve transfers with their own passkey. Gemini said the change keeps its regulated custodial structure in place.
Faster Withdrawals and Wider Blockchain Support
Gemini shared the update in a post on X. The company wrote that its new MPC technology means “withdrawals completed in minutes.”
The post also listed “support for more blockchains” and the ability to “approve transfers with your own passkey.” Gemini closed the post with “Faster access. More flexibility.” Gemini Custody serves institutional clients that require secure storage for digital assets.
Gemini Custody just got an upgrade.
Our new MPC technology means:
• Withdrawals completed in minutes
• Support for more blockchains
• Approve transfers with your own passkey
Faster access. More flexibility.
Read more https://t.co/PxL6rEefy4
— Gemini (@Gemini) October 8, 2026
Gemini then published a longer post titled “Gemini’s Shift to Multi-Party Computation Marks a New Era in Crypto Custody.” The company said customers “no longer need to wait for legacy daily runs.”
Instead, Gemini Custody can now process withdrawals much faster. Gemini stated that adoption and transaction volumes continue to grow.
Its MPC system can handle near instantaneous withdrawals while maintaining custom policy approval logic for each team.
Customers can now transact on several new networks. These include Tron, SUI, MON, Hype, Arbitrum, and XRPL. Gemini added that the service now supports newer signature schemes. As a result, the platform can keep pace with changes across the crypto market.
How the MPC Design Works
In the MPC system used by Gemini Custody, key shares are distributed across several parties. Gemini wrote that the complete private key is never assembled, “not in storage, not during signing.” The company added that “each share alone reveals nothing.”
Every transfer is also verified end to end at the signer level. Furthermore, each MPC signer undergoes separate upgrades and operates under independent governance.
This process includes cryptographic attestations to the software running in the environment. Gemini said this gives customers the most secure experience possible.
The company noted that its current multi-signature setup already protects against any single point of failure. According to Gemini, MPC adds to that protection.
The firm also pointed to lower-cost transactions and custody addresses that look like any other. The company stated that this approach modernizes the technology behind its custody service while preserving the custodial relationship.
Passkey Approvals and What Stays the Same
Gemini Custody customers now authorize address-book changes and withdrawals with their own passkey. Gemini said this method is “phishing-resistant because it’s bound to the genuine Gemini site.”
A customer may sign in with one passkey and approve transfers with a separate hardware key. Gemini said the approval policy remains under the customer’s control.
Existing customers will move to new custody accounts. Each network will have new deposit addresses. Gemini said customers will receive details of the transition in a separate communication. Meanwhile, every net-new Gemini Custody account already opens on MPC infrastructure.
Several elements of the service remain unchanged. Assets stay with Gemini Trust Company, LLC, a New York State-chartered trust company and qualified custodian.
Client assets remain segregated on-chain in unique, independently verifiable addresses. Account policies such as Multi-User Approval also stay available and configurable.
In addition, the company said custody infrastructure must keep up with the market. Gemini described the update as the start of Gemini 2.0.
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TLDR:
BNY now offers regulated digital asset custody to select institutional clients in the European Union.
BNY’s European entity joined the ESMA MiCA register in July 2026, enabling crypto-asset custody services.
The platform supports BTC, ETH, SOL and USDC, with plans to add broader crypto-assets and stablecoins.
Launched in 2022, the platform uses multiparty computation, segregated wallets and private key storage.
BNY Digital Asset Custody is now available to select institutional clients in the European Union under the Markets in Crypto-Assets (MiCA) framework. BNY announced the expansion on October 8 in Brussels.
The company is one of the first global systemically important banks to offer regulated digital asset custody in the region.
The service covers custody, administration, and transfer of crypto-assets. It is aimed at clients operating in one of the world’s largest regulated markets for digital assets.
MiCA Registration and Executive Comments
The expansion follows a registry update made in July 2026. The Bank of New York Mellon SA/NV, BNY’s European banking entity, joined the European Securities and Markets Authority MiCA register.
As a result, BNY can provide custody, administration, and transfer services for crypto-assets. These services are available to clients across one of the largest regulated digital asset markets.
Jennifer Barker, Head of Europe at BNY, described the demand behind the launch. She said, “Digital asset adoption is accelerating across Europe.”
She pointed to banks and broker-dealers that are expanding crypto-asset and stablecoin offerings. Asset managers and corporate treasurers are also exploring digital payments and tokenized securities.
Barker also spoke about the standards institutions expect. She said they need solutions with “the same resilience, oversight, and safeguards” they rely on across traditional operations.
In her words, BNY is providing clients with “institutional-grade infrastructure to navigate this transition with confidence.”
The announcement called the update breaking news. It referred to institutional-grade security, risk management, and operational expertise.
BREAKING: #BNY expands Digital Asset Custody for select institutional clients in the #EuropeanUnion under the Markets in Crypto-Assets (MiCA) framework.
Our Digital Asset Custody platform is designed with institutional-grade security, risk management and operational expertise to… pic.twitter.com/JCBPkL85la
— BNY (@BNYglobal) October 8, 2026
Additionally, the post said the platform supports digital cash, tokenized assets, payments, settlement, and collateral mobility.
Platform Security and Supported Assets
Launched in 2022, BNY Digital Asset Custody provides secure safekeeping and servicing of digital assets. The infrastructure includes multiparty computation technology, segregated client wallets, and storage of private keys. BNY designed these controls to support risk management and security across the service.
Through this model, clients can access regulated custody for BTC, ETH, SOL, and USDC. BNY also has ambitions to support broader crypto-assets and stablecoins. For now, the platform serves select institutions in the European Union under the MiCA framework.
Emily Portney, Global Head of Asset Servicing at BNY, explained how the platform was built. She said, “Our platform isn’t a standalone solution.”
According to Portney, it draws on the firm’s existing asset servicing expertise and controls. She added that the expansion equips clients to integrate operations with digital strategies “across the full asset lifecycle.”
Carolyn Weinberg, Chief Innovation and Market Transformation Officer at BNY, commented on the BNY Digital Asset Custody expansion.
She said BNY is “committed to building the financial infrastructure of the future in partnership with our clients.” Weinberg added that the expansion connects traditional and digital financial ecosystems. She also cited continued investment in BNY’s capabilities.
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TLDR:
Extended will migrate its settlement network to Circle’s Arc blockchain during the week of October 19.
Holders of over $1 in USDT or wBTC must convert to USDC or cirBTC by 12:00 UTC on October 21.
Converting earns a 0.50% premium paid by Extended, with no swap fees and credit within 8 hours.
Deposits and withdrawals pause for about two hours, while trading and sub-account transfers continue.
The Extended Arc migration will move its settlement network to Circle’s Arc blockchain during the week of October 19. Extended operates a perpetual DEX offering contracts on stocks, commodities, indices, and crypto.
Arc is a Layer 1 network built for financial markets, and it launched on September 16. Trading will continue throughout the process.
Users holding more than $1 in USDT or wBTC must convert those assets by 12:00 UTC on October 21. Neither asset exists on Arc.
Extended Arc Migration Plan and User Deadline
In a post on X, Extended announced, “Extended is migrating its settlement network to Arc.” The platform listed three improvements.
On infrastructure, it said trades “settle on Arc, with sub-second finality and stablecoin-denominated fees that make costs predictable.” Extended also expects broader real-world asset coverage and deeper liquidity across spot and perpetual markets.
https://t.co/r26IdaC2K1
— Extended (@extendedapp) October 8, 2026
Accounts, sub-accounts, positions, orders, history, points, and keys will carry across unchanged. However, users with more than $1 of USDT or wBTC in a sub-account must act before the deadline. They can convert in the app to USDC or cirBTC at a 1:1 rate plus a 0.50% premium.
Extended pays the premium and charges no swap fees. The premium will be credited within 8 hours after the migration.
One approval in the app covers both assets and every sub-account. Deposits of both assets were disabled as of 16:00 UTC on the day of the announcement.
ETH balances will convert automatically to wETH on Arc at a 1:1 ratio. USDC will migrate as native USDC. Vault and XVS balances, along with withdrawal rights, will be preserved. Other users need to take no action.
Process Risks and Arc Features
Deposits and withdrawals will pause for roughly two hours during the Extended Arc migration. Transfers between sub-accounts will keep working.
Extended advised users to “make sure that open positions are comfortably margined.” Precise timing will be shared closer to the date.
Under the Extended Arc migration rules, users who miss the deadline face account restrictions. Standard liquidation rules still apply, and they cannot add margin or close positions.
Affected sub-account positions close at the mark price with no fee, and open orders are cancelled. Extended returns the assets to the login wallet on Starknet or Ethereum and covers network fees.
Arc mainnet went live on September 16 with four features relevant to a trading venue. These are deterministic sub-second finality, gas paid in USDC, and EVM compatibility. The network also has an institutional validator set. Existing wallets and tooling will continue to work as they do today.
Extended is building a unified platform for trading perpetual contracts across asset classes with varied collateral. That plan requires a settlement layer built for markets and trusted by the institutions that distribute them. Arc launched with BlackRock, DTCC, ICE, Visa, and Mastercard among its founding validators.
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TLDR
Walmart (WMT) stock jumps 2.22% to $110.56 following its California hub opening.
Walmart opens its fifth advanced fulfillment center in Stockton, California.
The new 900,000-square-foot California facility will create over 1,000 jobs.
Advanced automation cuts Walmart’s warehouse fulfillment process to five steps.
Walmart targets next-day or two-day shipping coverage for 95% of Americans.
Walmart (WMT) stock gained 2.22% to close Thursday at $110.56, adding $2.40 before slipping 0.03% to $110.52 after hours. The retailer opened a new fulfillment center in Stockton, California, expanding its West Coast delivery network. The facility will create more than 1,000 jobs and increase Walmart’s capacity to process online orders.
Walmart Inc., WMT
Walmart Expands California Fulfillment Network
Walmart opened its fifth next-generation fulfillment center, covering more than 900,000 square feet in California’s Central Valley. The new Stockton location strengthens the company’s distribution operations across California and neighboring western states. Its location also brings inventory closer to customers and supports faster shipping across the region.
The facility combines automated systems, machine learning, and warehouse employees to handle orders more efficiently. Its storage technology moves products directly to workers, reducing the traditional fulfillment process from 12 steps to five. Employees can process additional orders while spending less time on repetitive warehouse activities.
Walmart expects its advanced fulfillment network to support next-day or two-day shipping for 95% of Americans. The Stockton center also provides additional space for merchandise from independent businesses using Walmart Fulfillment Services. This expansion supports the retailer’s growing online marketplace and its existing network of stores and distribution facilities.
New Facility Creates Over 1,000 Jobs
The Stockton center will employ more than 1,000 associates as Walmart increases operations at the site. The company continues recruiting employees for warehouse operations, technology, and other positions supporting its automated systems. These roles offer opportunities to develop technical skills and pursue longer-term employment within the company.
Walmart provides eligible full-time employees with medical coverage, dental insurance, retirement benefits, and paid leave. Workers can also access its employee stock purchase program and tuition assistance through Live Better U. Meanwhile, the company continues accepting applications through its online careers platform as hiring progresses.
The opening also brings additional economic activity to Stockton and the surrounding San Joaquin County area. Walmart marked the occasion with $10,000 in grants supporting two local education and food assistance organizations. The contributions went to the Emergency Food Bank of Stockton and Unbound Stockton Community School.
Walmart Strengthens Its California Operations
Walmart already employs more than 102,900 associates throughout California across its retail and distribution operations. The company operates more than 300 stores, clubs, and supply chain facilities across the state. Its latest investment expands an established network serving customers through physical locations and online channels.
During 2025, Walmart spent $36.5 billion with California suppliers, supporting approximately 310,304 supplier jobs statewide.Walmart and its foundation contributed more than $84.2 million to California organizations during fiscal 2026. These contributions included cash donations and goods distributed through local community partnerships.
The Stockton opening forms part of Walmart’s broader effort to modernize fulfillment and improve delivery efficiency. Advanced storage systems allow the company to handle larger order volumes without relying entirely on traditional manual processes. The new center adds capacity as Walmart expands its shipping services across the western United States.

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TLDR
Tilray Brands (TLRY) stock drops 3.36% to $3.59 despite strong quarterly revenue.
Tilray’s Q1 revenue jumps 23% to $257.1M, while net losses reach $40 million.
Beverage revenue surges 82% to $101.5M, supported by the BrewDog acquisition.
Cannabis revenue declines to $56.1M, despite improved margins reaching 39%.
Tilray maintains its fiscal 2027 EBITDA outlook of $68M to $75M despite losses.
Tilray Brands (TLRY) stock fell 3.36% to $3.59 at Thursday’s close, despite reporting strong quarterly revenue growth. Shares later recovered 0.61% to $3.6120 in after-hours trading on October 8. The company reported a $40 million first-quarter net loss, while revenue increased 23% year-over-year.
Tilray Brands, Inc., TLRY
Tilray Brands Reports Revenue Growth Despite $40M Loss
Tilray reported record first-quarter revenue of $257.1 million for the period ending August 31, 2026. Revenue increased from $209.5 million during the same quarter last year. Meanwhile, gross profit climbed 35% to $77.5 million, supported by improvements across several business segments.
The company’s gross margin expanded from 27% to 30%, reflecting stronger profitability across its operations. Tilray recorded a net loss of $40 million, largely due to noncash charges. The company reported a loss of $0.32 per share, while adjusted losses totaled $3 million.
Adjusted earnings per share showed a loss of $0.02 during the quarter. Furthermore, adjusted EBITDA declined to $9.2 million from $10.2 million a year earlier. Management attributed part of the decline to approximately $1.7 million in global fuel surcharges.
Beverage Revenue Surges as Cannabis Sales Decline
Tilray’s beverage business generated $101.5 million in revenue, representing an 82% annual increase. The acquisition of BrewDog contributed to this growth and expanded the company’s beverage operations. Beverage gross profit nearly doubled to $42 million, while margins improved from 38% to 41%.
Cannabis revenue declined to $56.1 million from $64.5 million in the previous year. Cannabis gross profit also slipped to $22 million, compared with $23.3 million previously. Despite lower sales, the segment improved its gross margin to 39% from 36%.
Distribution revenue increased 14% to $84.3 million, supported by the company’s pharmaceutical distribution operations. Wellness revenue remained near $15.3 million, although gross profit declined to $4.4 million. These results highlighted differences in performance across Tilray’s cannabis, beverage, distribution, and wellness businesses.
Tilray Maintains Fiscal 2027 Outlook and Cuts Debt
Tilray ended the quarter with $221.4 million in cash, restricted cash, and marketable securities. The company also reduced outstanding debt by $42 million during the fiscal year. These measures strengthened its financial position while management continued integrating recently acquired operations.
For fiscal 2027, Tilray reaffirmed its adjusted EBITDA forecast of $68 million to $75 million. The company expects stronger financial performance during the second half of its fiscal year. Management also expects the fourth quarter to contribute significantly to annual results.
Tilray continues expanding its presence across cannabis, beverages, wellness, and pharmaceutical distribution markets. Its agreement with Carlsberg will introduce production and sales of selected beer brands in the United States. The partnership will begin January 1, 2027, extending Tilray’s beverage operations beyond its existing portfolio.

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TLDR
Amazon stock drops 1.99% as its trailing P/E ratio falls to multiyear lows.
Amazon trades near 20 times earnings, far below its five-year average of 60.
FTC lawsuit alleges Amazon overcharged advertisers by more than $20 billion.
Amazon plans $220 billion in 2026 capital spending to expand AI operations.
Analysts forecast negative free cash flow as Amazon’s AI investments surge.
Amazon.com, Inc. stock fell 1.99% to $254.74, losing $5.18 as its earnings valuation reached multiyear lows. The company’s trailing price-to-earnings ratio dropped near 20 times despite continued expansion across artificial intelligence and cloud computing. Meanwhile, rising infrastructure expenses and a federal advertising lawsuit have added pressure to the technology company’s market performance.
Amazon.com, Inc., AMZN
Amazon Stock Valuation Drops Below Historical Averages
Amazon shares have struggled to regain their previous highs despite continued market interest in artificial intelligence companies. The stock has declined approximately 8.5% from its early August 52-week high, reflecting weaker performance than several technology peers. By comparison, Microsoft shares have retreated approximately 4.2% from their own 52-week high over the same period.
Data from Yahoo Finance AlphaSpace places Amazon’s trailing price-to-earnings ratio near 20 times, well below its historical averages. The company recorded an average trailing multiple of 60 times over five years and 102.3 times over ten years. Its current valuation represents a substantial decline from the premium historically associated with its earnings growth.
Market analysis platform TrendSpider also identified Amazon’s earnings multiple as one of its lowest readings in several years. Uncertainty remains over whether the calculation fully accounts for gains associated with Amazon’s investment in Anthropic. Such investment gains can increase reported earnings and reduce the trailing multiple without directly improving recurring operating profits.
FTC Advertising Lawsuit Adds Pressure to Amazon Shares
Amazon also faces regulatory challenges involving its advertising business, a major source of revenue across its retail platform. The Federal Trade Commission and 22 states filed a lawsuit on August 31 over alleged unfair advertising auction practices. Regulators claim the company used undisclosed pricing methods to increase advertising costs for businesses using its marketplace.
The FTC alleges that Amazon’s practices generated more than $20 billion in additional advertising charges since 2019. The complaint concerns approximately 1.2 million advertisers and questions how Amazon determined prices for sponsored advertising placements. To regulators, the company introduced pricing mechanisms that increased costs beyond levels set through ordinary bidding competition.
Amazon disputes the allegations and maintains that its advertising platform delivers value to participating businesses. The legal proceedings could affect an important profit source if regulators secure changes to the company’s pricing practices. The unresolved dispute adds another challenge as Amazon balances retail operations, cloud expansion, and growing infrastructure commitments.
Amazon AI Spending Raises Free Cash Flow Concerns
Amazon continues directing substantial resources toward artificial intelligence infrastructure as competition intensifies among major cloud computing providers. The company raised its projected 2026 capital expenditure budget to approximately $220 billion during its second-quarter earnings update. These investments support computing capacity, data centers, and other infrastructure requirements across its expanding technology operations.
Evercore ISI analyst Mark Mahaney expects Amazon’s annual capital expenditures to increase further over the next two years. His estimates place spending at approximately $320 billion in 2027, followed by another increase to $370 billion in 2028. The projections highlight the financial demands of expanding computing infrastructure while maintaining investment across other business divisions.
Mahaney also forecasts negative free cash flow of approximately $50 billion annually during both 2027 and 2028. These estimates reflect substantial capital requirements that could exceed cash generation despite continued growth across Amazon’s major business segments. Meanwhile, the combination of lower earnings multiples and higher spending expectations underscores the changing financial outlook for Amazon stock.

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TLDR
SoFi Technologies stock drops 1.44% to $15.44 despite its new Mastercard deal.
SoFi joins Mastercard and Orbi to introduce crypto-linked payment cards in Mexico.
The partnership enables crypto spending with instant conversion into fiat money.
Stablecoins account for 40% of Bitso’s regional crypto purchases during 2025.
SoFi Tech Solutions supports 135 million accounts and nearly 200 global clients.
SoFi Technologies (SOFI) stock fell 1.44% to $15.44 during Thursday’s intraday trading, despite announcing a new Mastercard partnership in Mexico. The shares lost $0.22 but recovered from midday lows near $15.27. Meanwhile, SoFi Tech Solutions partnered with Mexican fintech Orbi and Mastercard to introduce a crypto-linked payment card.
SoFi Technologies, Inc., SOFI
SoFi Technologies Expands Crypto Payments Through Mastercard Deal
SoFi Tech Solutions announced the partnership on October 8 to expand digital asset payments in Mexico. The program allows Orbi customers to spend traditional money or funds from their cryptocurrency balances. The service converts cryptocurrency into fiat currency during purchases, allowing merchants to receive conventional payments.
The partnership combines SoFi’s financial infrastructure with Mastercard’s payment network and Orbi’s digital financial services. SoFi Tech Solutions will manage card issuing, transaction processing, authorization, and compliance services. Mastercard will provide payment network access to support everyday purchases across participating merchants.
Orbi customers will access their digital assets through physical and virtual Mastercard cards. The cards will also support cash withdrawals through Mastercard’s domestic payment network in Mexico. Furthermore, the Mexico Domestic Switch will connect the program with existing payment infrastructure across the country.
Stablecoin Adoption Supports SoFi’s Expansion Into Mexico
Mexico’s large remittance market provides a commercial opportunity for companies developing digital payment services. Stablecoins offer another way to transfer funds across borders and access dollar-linked digital assets. Consequently, SoFi’s partnership targets customers who want to use cryptocurrency for regular financial transactions.
According to Bitso, stablecoins represented 40% of cryptocurrency purchases across four Latin American markets during 2025. Bitcoin accounted for 18% of purchases across Mexico, Argentina, Brazil, and Colombia. The figures marked the first time stablecoins exceeded Bitcoin in Bitso’s regional purchase data.
SoFi also plans to support additional stablecoin payment services through its financial technology platform. Its SoFiUSD stablecoin forms part of the broader infrastructure supporting the partnership. Furthermore, the companies aim to connect digital asset transactions with established payment systems and cross-border money movement.
SoFi Tech Solutions Builds on Existing Banking Infrastructure
SoFi Tech Solutions brings experience from Galileo and Technisys to support its financial technology operations across Latin America. Galileo contributes more than 30 years of payment processing experience, while Technisys provides core banking technology. Together, these capabilities support digital banking, transaction management, lending services, and payment processing.
The platform offers card issuing, real-time payment controls, digital banking services, and fraud management tools. Financial institutions can select individual services or combine several products within their existing operations. SoFi supports money transfers through traditional banking channels and newer digital asset settlement systems.
Nearly 200 clients currently use SoFi Tech Solutions to operate financial products and services. Its infrastructure supports approximately 135 million accounts and has processed billions of transactions. Over the past three years, the platform has also supported money movement totaling trillions of dollars.
Despite the Mastercard announcement, SoFi Technologies shares remained lower during Thursday’s trading session. The partnership expands the company’s presence in Latin America’s developing digital payments market. The session’s stock performance showed that the announcement did not reverse the intraday decline.

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TLDR
Jefferies maintains its Hold rating on Workday stock with a $210 price target.
Workday cuts its 2028 growth forecast as subscription revenue loses momentum.
Workday’s $600 million AI revenue highlights its growing software ambitions.
SAP and Oracle widen competitive pressure as Workday struggles with growth.
Three senior leadership departures raise concerns ahead of Workday Rising.
Workday Inc. stock traded at $185.00, gaining 0.40%, as Jefferies maintained its Hold rating and $210 price target. The investment bank cited weaker subscription growth, growing competition, and leadership departures as challenges facing the cloud software provider. Workday’s expanding artificial intelligence business has yet to reverse the slowdown in its core software operations.
Workday, Inc., WDAY
Jefferies Maintains Hold Rating as Workday Growth Slows
Jefferies maintained its neutral position on Workday stock as the company’s subscription revenue growth continued to face pressure. The bank wants annual subscription growth to exceed 11% before adopting a more positive view of the business. Its assessment highlights the widening performance gap between Workday and several major enterprise software competitors.
Workday recorded 13% revenue growth during calendar year 2025, slightly outperforming SAP and Oracle over the same period. Jefferies expects growth to decline to 10% by 2028, potentially placing Workday behind other major back-office software providers. The forecast reflects four consecutive years of slowing expansion and reduced expectations for the company’s longer-term financial performance.
Workday lowered its fiscal 2028 subscription revenue growth target from 13%–14% to 11%, reflecting weaker business momentum. Management also reduced its operating margin target from 35% to 33%, signaling narrower expectations for future profitability. Jefferies projects a Rule of 43 performance measure in 2027, combining expected revenue growth and operating margins.
Workday Faces Rising AI Competition From SAP and Oracle
Workday continues expanding its artificial intelligence products, although the emerging business contributes a relatively small share of total revenue. Its AI annual recurring revenue stands near $600 million, representing approximately 6% of the company’s overall revenue base. Workday launched general availability for Sana in March 2026, adding another product to its AI software portfolio.
Jefferies identified competitive challenges as SAP and Oracle continue expanding their positions across enterprise software markets worldwide. SAP benefits from customer migrations to its S/4HANA platform, while Oracle gains support from its growing cloud infrastructure operations. Workday has secured less than two percentage points of additional market share in key segments over four years.
The company’s backlog growth also slowed to 14% during the second calendar quarter, compared with 26% at SAP. Workday’s operating margin remains in the low 30% range, while several comparable software providers approach 40%. These differences place greater pressure on Workday to improve profitability while developing competitive products and defending existing customer relationships.
Leadership Departures Add Pressure Ahead of Workday Rising
Leadership turnover has introduced another challenge as Workday prepares for its upcoming Rising conference and future business expansion. The company experienced departures involving its chief executive, chief revenue officer, and chief technology officer within eight months. These changes affect several senior positions responsible for corporate strategy, commercial performance, and technology development during a period of slowing growth.
Workday faces opportunities and challenges across international markets, which account for half its estimated $160 billion addressable market. Overseas operations contribute approximately 25% of company revenue, despite representing a much larger share of potential demand. International growth has also slowed for seven consecutive years, limiting the contribution from markets beyond the company’s established customer base.
Workday shares have declined approximately 13% this year, while their valuation remains around 20% below comparable software companies. Jefferies attributes part of that discount to slower growth, with Workday trailing peers by approximately two percentage points. The upcoming Rising conference gives management an opportunity to outline its AI strategy, leadership priorities, and plans for subscription growth.

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TLDR
US Government wallets transferred 12,267 Bitcoin worth approximately $1.01 billion to unidentified addresses.
Arkham data showed no confirmed exchange deposit or sale linked to Thursday’s Bitcoin transfer.
Galaxy Research tracked another $770 million in Bitcoin transfers to Coinbase Prime over two days.
Government-linked cryptocurrency movements approached $1.87 billion, including transfers involving seized Bitcoin and USDT.
Bitfinex restitution proceedings and Strategic Bitcoin Reserve rules remain relevant to the ownership of seized assets.
Wallets linked to the US Government transferred 12,267 Bitcoin, worth about $1.01 billion, on October 8. Blockchain tracker Arkham traced the funds to Bitcoin recovered from the 2016 Bitfinex hack. The transfers reached unidentified addresses, not exchange deposit wallets.
US Government Sends Bitcoin to New Addresses
Arkham recorded 12,267.02 BTC leaving a wallet holding seized Bitfinex funds. The coins reached new addresses without public ownership labels. A small additional transaction appeared around the same time.
The addresses do not identify their owners. Blockchain records show movement between addresses but cannot establish the purpose. No confirmed sale accompanied Thursday’s transfers.
The activity followed an earlier movement of seized Bitcoin and BNB reported on October 7. That transfer included approximately 833.6 BTC worth $71.56 million sent to Coinbase Prime. Another 40,285 BNB moved through separate addresses.
Coinbase Prime Received Earlier Transfers
Galaxy Research tracked roughly 9,261 BTC, worth $770 million, entering Coinbase Prime across October 6 and 7. The researchers linked many coins to past government seizures. They also identified 2,456 BTC from wallets not previously labeled as government holdings.
Coinbase Prime handles custody and trading, so deposits cannot confirm sales. FTX-linked wallets sent about $94.15 million in USDT to Coinbase Prime. Combined transfers reached approximately $1.87 billion over three days.
The transfers came as US Bitcoin ETFs recorded heavy withdrawals on October 7. The funds posted approximately $485 million in net outflows, their largest daily loss since June. Bitcoin traded near $82,000 on Thursday.
Bitfinex Restitution Complicates Bitcoin Sale Claims
The 2016 Bitfinex hack involved nearly 120,000 stolen Bitcoin. US authorities later recovered more than 94,000 BTC linked to the theft. In 2025, prosecutors sought to return recovered funds to the exchange.
Those proceedings distinguish recovered customer property from Bitcoin that the government can retain. A March 2025 order established the Strategic Bitcoin Reserve and restricted sales of forfeited Bitcoin held there. It does not automatically cover coins awaiting restitution.
A separate Bitfinex-linked Bitcoin transfer reached Coinbase earlier this week. That movement involved approximately 265 BTC, valued near $23 million. Authorities have not confirmed that Thursday’s larger transfer formed part of the same process.
Arkham estimates that government-linked wallets still hold about $25.5 billion in cryptocurrency. The latest activity remains visible on the blockchain, but the final destination and purpose remain unknown.
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