Stablecoin margined futures on DOGE have spiked, with DOGE denominated bets rising 33% since Sunday.

Futures interest in dogecoin (DOGE) is swiftly rising and nearing record levels from April, thanks to renewed trading interest in the token on the possibility of its abbreviation becoming a part of Republican Donald Trump’s administration.

DOGE prices are up 15% in the past 24 hours, CoinGecko shows, after an Elon Musk appearance at a Trump rally and a later X post of himself with the DOGE avatar. Traders are terming the price spike as a play on “Trump’s popularity,” as reported.

DOGE-denominated futures have risen 33% since Sunday to 8 billion tokens as of European morning hours Tuesday. That’s just 12% away from a lifetime record of 9 billion DOGE in open interest.

In stablecoin terms, the DOGE bets have spiked from $850 million to $1.3 billion, CoinGlass data shows.

OI refers to the total number of outstanding derivative contracts, such as futures or options, that have not been settled. High open interest indicates that there is significant interest in a particular asset. When open interest increases along with rising prices, it suggests new money is coming into the market, indicating a strengthening trend – such as Tuesday’s.

Higher open interest in token can lead to increased volatility, especially as contracts near expiration. Traders might rush to close, roll over, or adjust positions, which can lead to significant price movements.

Musk has gotten closer to Trump in the past few months with increased donations and endorsements. On various talk shows, he has talked about creating a “Department of Government Efficiency,” abbreviated as D.O.G.E, in a quest to make government spending more efficient.

Trump has said he would enlist Musk to run a “government efficiency commission” if he wins a second term as U.S. president, per BBC.

Some traders have jumped on that narrative as a bullish catalyst in the near term.

“Elon is memeing the idea of a ‘Department of Government Efficiency’ into reality and is able to tie it to DOGE somehow,” influential X account @theunipcs told CoinDesk in a message. “If we get a Trump win after the U.S. elections next week, i expect an even more parabolic move in dogecoin and the ‘Department of Government Efficiency’ ETH memecoin because it becomes a certainty that the department will be set up.”

“There will likely a multi-month delay between Trump winning and his inauguration as well as such a department being actually set up, and that provides a solid trade opportunity,” @theunipcs added. The trader was among the first individuals to publicly state the D.O.G.E trade thesis.

DOGE prices are up more than 30% since CoinDesk first reported on the D.O.G.E trade gaining interest among traders.

Source: Crypto Insider

Hagens Berman urges Acadia Healthcare Company, Inc. (NASDAQ: ACHC) investors who suffered substantial losses to submit your losses now.

Class Period: Feb. 28, 2020 – Sept. 26, 2024
Lead Plaintiff Deadline: Dec. 16, 2024
Visit: www.hbsslaw.com/investor-fraud/ACHC
Contact the Firm Now: ACHC@hbsslaw.com
                                            844-916-0895

Acadia Healthcare Company, Inc. (ACHC) Securities Class Action:

The suit, filed in the Middle District of Tennessee, seeks to recover damages for investors who purchased Acadia Healthcare securities between February 28, 2020, and September 26, 2024.

According to the complaint, Acadia Healthcare has engaged in a pattern of detaining patients against their will, even when such detention was not medically necessary. The company is accused of using deceptive tactics to lure patients into its facilities and then holding them captive for financial gain, rather than for their medical treatment.

The lawsuit alleges that Acadia Healthcare’s executives were aware of these practices and intentionally misled investors about the company’s business model and financial prospects.

The complaint cites a recent investigation by The New York Times that revealed widespread allegations of patient abuse and illegal detention at Acadia Healthcare facilities across the country.

Following the publication of The New York Times investigation on September 1, 2024, the company’s stock price plummeted by 4.5%. The decline accelerated on September 27, 2024, when Acadia Healthcare disclosed that it was under investigation by federal authorities. The stock price dropped by a further 16.36% on that day, reflecting investor concerns about the potential legal and financial consequences of the company’s misconduct.

Most recently, on October 18, 2024, The New York Times reported on a fresh round of investigations into Acadia Healthcare. According to the reporting, the Veterans Affairs Department is looking into whether the company “billed insurance programs for patients who were stable enough to be released and did not need intensive inpatient care[.]” This news drove the price of Acadia Healthcare shares down over 12%.

Shareholder rights firm Hagens Berman is investigating the alleged claims. “Acadia Healthcare’s alleged conduct, if proven, represents a significant breach of patient rights and a betrayal of investor trust,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Acadia Healthcare and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Acadia Healthcare case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Acadia Healthcare should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ACHC@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

Source: Crypto Insider

Third Quarter Highlights

Performance and operating highlights for the Company for the periods noted below included the following:

James E. Beckwith, President and Chief Executive Officer, commented on the financial results:

“We are pleased to have opened a full-service office in San Francisco’s Financial District on September 3rd, further demonstrating our commitment to serving clients and communities in the San Francisco Bay Area. The San Francisco Bay Area now has 24 employees contributing $189.0 million in deposits since the bank’s expansion there began in June 2023. Five Star Bank’s high-tech and high-touch, relationship-based and purpose-driven banking continues to earn the trust and respect of those we serve.

We are also pleased with strong third quarter results. Total loans held for investment increased by $194.3 million, or 5.95%, and total deposits increased by $250.3 million, or 7.95%, during the third quarter. Non-wholesale loans held for investment increased by $75.2 million, or 2.42%, and wholesale loans held for investment, which we define as purchased loans, increased by $119.1 million, or 76.91%, in each case during the third quarter of 2024. Non-wholesale deposits increased by $92.9 million, or 3.21%, and wholesale deposits, which we define as brokered deposits and public time deposits, increased by $157.4 million, or 62.35%, in each case during the third quarter of 2024. Short-term borrowings remained at zero as of June 30, 2024 and September 30, 2024. We attribute this growth to the continued demand for our differentiated customer experience and the strength of our team.

Although cost of funds increased 16 basis points to 2.72%, we were able to maintain net interest margin which decreased by only two basis points to 3.37% during the third quarter of 2024. Our efficiency ratio decreased to 43.37% compared to 44.07% for the second quarter of 2024, exhibiting our ability to preserve disciplined business practices and expense management as we expand our footprint. We are also pleased that, in addition to first and second quarter cash dividends in 2024, we declared a third quarter cash dividend of $0.20 per share, exemplifying our focus on shareholder value.

In addition to numerous awards received in the first half of 2024, Five Star Bancorp was included among the Piper Sandler Sm-All Stars Class of 2024 and was also ranked number five by Bank Director Magazine’s RankingBanking study of the 2024 Best U.S. Banks with assets less than $5 billion. Bank Director Magazine’s RankingBanking study also ranked Five Star Bancorp as number 18 among the 2024 Top 25 U.S. Banks. Furthermore, a member of the Company’s leadership was recognized with a Sacramento Business Journal 40 Under 40 Award.”

Financial highlights during the quarter included the following:

• The Company’s full-service office in San Francisco’s Financial District opened on September 3, 2024. The San Francisco Bay Area team increased from 19 to 24 employees who generated deposit balances totaling $189.0 million at September 30, 2024, an increase of $27.7 million from June 30, 2024.
• Cash and cash equivalents were $250.9 million, representing 7.38% of total deposits at September 30, 2024, as compared to 6.04% at June 30, 2024.
• Total deposits increased by $250.3 million, or 7.95%, during the three months ended September 30, 2024, due to increases in both non-wholesale and wholesale deposits, which the Company defines as brokered deposits and public time deposits. During the three months ended September 30, 2024, non-wholesale deposits increased by $92.9 million, or 3.21%, and wholesale deposits increased by $157.4 million.
• The Company had no short-term borrowings at September 30, 2024 and June 30, 2024.
• Consistent, disciplined management of expenses contributed to our efficiency ratio of 43.37% for the three months ended September 30, 2024, as compared to 44.07% for the three months ended June 30, 2024.
• For the three months ended September 30, 2024, net interest margin was 3.37%, as compared to 3.39% for the three months ended June 30, 2024 and 3.31% for the three months ended September 30, 2023. The effective Federal Funds rate decreased to 4.83% as of September 30, 2024 from 5.33% at June 30, 2024 and September 30, 2023.
• Other comprehensive income was $2.5 million during the three months ended September 30, 2024. Unrealized losses, net of tax effect, on available-for-sale securities were $9.7 million as of September 30, 2024. Total carrying value of held-to-maturity and available-for-sale securities represented 0.07% and 2.76% of total interest-earning assets, respectively, as of September 30, 2024.
• The Company’s common equity Tier 1 capital ratio was 10.93% and 11.27% as of September 30, 2024 and June 30, 2024, respectively. The Bank continues to meet all requirements to be considered “well-capitalized” under applicable regulatory guidelines.
• Loan and deposit growth in the three and twelve months ended September 30, 2024 was as follows:

• The ratio of nonperforming loans to loans held for investment at period end decreased to 0.05% at September 30, 2024 from 0.06% at June 30, 2024.
• The Company’s Board of Directors declared, and the Company subsequently paid, a cash dividend of $0.20 per share during the three months ended September 30, 2024. The Company’s Board of Directors subsequently declared another cash dividend of $0.20 per share on October 17, 2024, which the Company expects to pay on November 12, 2024 to shareholders of record as of November 4, 2024.

Summary Results

Three months ended September 30, 2024, as compared to three months ended June 30, 2024

The Company’s net income was $10.9 million for the three months ended September 30, 2024, as compared to $10.8 million for the three months ended June 30, 2024. Net interest income increased by $1.3 million, primarily due to an increase in interest income driven by higher yields on new and repriced loans, partially offset by an increase in interest expense due to larger average deposit balances at higher rates, as compared to the three months ended June 30, 2024. The provision for credit losses increased by $0.8 million, relating to loan growth and net charge-offs of $0.8 million in the three months ended September 30, 2024, as compared to the three months ended June 30, 2024. Non-interest income decreased by $0.2 million, primarily due to a reduction in gains from loans sold during the three months ended September 30, 2024, as compared to the three months ended June 30, 2024. Non-interest expense increased by $0.3 million, primarily related to increases in: (i) salaries and employee benefits; and (ii) data processing and software, as compared to the three months ended June 30, 2024.

Three months ended September 30, 2024, as compared to three months ended September 30, 2023

The Company’s net income was $10.9 million for the three months ended September 30, 2024, as compared to $11.0 million for the three months ended September 30, 2023. Net interest income increased by $2.9 million, primarily due to an increase in interest income driven by higher yields on new and repriced loans, partially offset by an increase in interest expense due to larger average deposit balances at higher rates, as compared to the three months ended September 30, 2024. The provision for credit losses increased by $1.7 million, relating to loan growth and net charge-offs of $0.8 million in the three months ended September 30, 2024, as compared to the three months ended September 30, 2023. Non-interest income was unchanged from the three months ended September 30, 2023. Non-interest expense increased by $1.8 million, with an increase in salaries and employee benefits related to the Company’s expansion into the San Francisco Bay Area as the leading driver.

The following is a summary of the components of the Company’s operating results and performance ratios for the periods indicated:

Balance Sheet Summary

• Insured and collateralized deposits were approximately $2.2 billion, representing 63.90% of total deposits as of September 30, 2024. Net uninsured and uncollateralized deposits were approximately $1.2 billion as of September 30, 2024.
• Commercial and consumer deposit accounts constituted 73.14% of total deposits. Deposit relationships of at least $5 million represented 60.58% of total deposits and had an average age of approximately 8.89 years as of September 30, 2024.
• Cash and cash equivalents as of September 30, 2024 were $250.9 million, representing 7.38% of total deposits at September 30, 2024, as compared to 6.04% as of June 30, 2024.
• Total liquidity (consisting of cash and cash equivalents and unused and immediately available borrowing capacity as set forth below) was approximately $1.8 billion as of September 30, 2024.

The increase in total assets from December 31, 2023 to September 30, 2024 was primarily due to a $378.8 million increase in total loans held for investment, partially offset by a $70.7 million decrease in cash and cash equivalents. The $378.8 million increase in total loans held for investment between December 31, 2023 and September 30, 2024 was a result of $873.7 million in loan originations and advances, partially offset by $190.6 million and $304.2 million in loan payoffs and paydowns, respectively. The $378.8 million increase in total loans held for investment included $254.7 million in purchases of loans within the consumer concentration of the loan portfolio. The $70.7 million decrease in cash and cash equivalents primarily resulted from net cash outflows related to investing activities of $376.5 million, partially offset by net cash inflows related to financing and operating activities of $272.0 million and $33.8 million, respectively.

The increase in total liabilities from December 31, 2023 to September 30, 2024 was primarily due to an increase in interest-bearing deposits of $297.2 million, partially offset by a decrease in other borrowings of $170.0 million. The increase in interest-bearing deposits was largely due to increases in money market and time deposits of $264.1 million and $24.4 million, respectively.

The increase in total shareholders’ equity from December 31, 2023 to September 30, 2024 was primarily a result of $80.9 million of additional common stock outstanding and net income recognized of $32.4 million, partially offset by $12.0 million in cash distributions paid during the period.

Net Interest Income and Net Interest Margin

The following is a summary of the components of net interest income for the periods indicated:

The following table shows the components of net interest income and net interest margin for the quarterly periods indicated:

Net interest income during the three months ended September 30, 2024 increased $1.3 million, while net interest margin decreased two basis points compared to the three months ended June 30, 2024. Interest income increased by $3.7 million compared to the prior quarter, primarily due to higher yields on new and repriced loans. Average loan yields increased 15 basis points compared to the prior quarter and average balances increased 4.88% during the same period. The increase in interest income compared to the prior quarter was partially offset by a $2.4 million increase in interest expense, primarily due to larger average deposit balances at higher rates. Average cost of total deposits increased 16 basis points compared to the prior quarter and average balances increased 4.42% during the same period.

As compared to the three months ended September 30, 2023, net interest income increased $2.9 million and net interest margin increased six basis points. Interest income increased by $7.6 million compared to the same quarter of the prior year, primarily due to higher yields on new and repriced loans. Average loan yields increased 41 basis points compared to the same quarter of the prior year and average balances increased 12.47% during the same period. The increase in interest income was partially offset by an additional $4.7 million in interest expense compared to the same quarter of the prior year. Average cost of total deposits increased 45 basis points compared to the same quarter of the prior year and average balances increased 6.72% during the same period.

Loans by Type

The following table provides loan balances, excluding deferred loan fees, by type as of September 30, 2024:

Interest-bearing Deposits

The following table provides interest-bearing deposit balances by type as of September 30, 2024:

Asset Quality

Allowance for Credit Losses

At September 30, 2024, the Company’s allowance for credit losses was $37.6 million, as compared to $34.4 million at December 31, 2023. The $3.2 million increase in the allowance is due to a $6.0 million provision for credit losses recorded during the nine months ended September 30, 2024, partially offset by net charge-offs of $2.8 million, mainly attributable to commercial and industrial loans, during the same period.

The Company’s ratio of nonperforming loans to loans held for investment decreased from 0.06% at December 31, 2023 to 0.05% at September 30, 2024. Loans designated as watch increased from $39.6 million to $90.9 million between December 31, 2023 and September 30, 2024. Loans designated as substandard decreased from $2.0 million to $1.9 million between December 31, 2023 and September 30, 2024. There were no loans with doubtful risk grades at September 30, 2024 or December 31, 2023.

A summary of the allowance for credit losses by loan class is as follows:

The ratio of allowance for credit losses to loans held for investment was 1.09% at September 30, 2024, as compared to 1.12% at December 31, 2023.

Non-interest Income

The following table presents the key components of non-interest income for the periods indicated:

Gain on sale of loans. The decrease resulted from a decline in the volume of loans sold, partially offset by an increase in the effective yield of loans sold. During the three months ended September 30, 2024, approximately $4.4 million of loans were sold with an effective yield of 7.03%, as compared to approximately $6.8 million of loans sold with an effective yield of 6.60% during the three months ended June 30, 2024.

The following table presents the key components of non-interest income for the periods indicated:

Gain on sale of loans. The decrease related primarily to an overall decline in the volume of loans sold, partially offset by an improvement in the effective yield of loans sold. During the three months ended September 30, 2024, approximately $4.4 million of loans were sold with an effective yield of 7.03%, as compared to approximately $7.0 million of loans sold with an effective yield of 5.63% during the three months ended September 30, 2023.

Non-interest Expense

The following table presents the key components of non-interest expense for the periods indicated:

Salaries and employee benefits. The increase related primarily to: (i) a $0.4 million decrease in loan origination costs due to fewer loan originations, net of purchased consumer loans; and (ii) a $0.2 million increase in salaries, benefits, and bonus expense related to a 4.28% increase in headcount during the quarter. These increases were partially offset by a $0.4 million decrease in commissions expense due to fewer loan originations, net of purchased consumer loans, period-over-period.

The following table presents the key components of non-interest expense for the periods indicated:

Salaries and employee benefits. The increase related primarily to: (i) a $1.0 million increase in salaries, benefits, and bonus expense, mainly for employees hired since September 2023 to support expansion into the San Francisco Bay Area; and (ii) a $0.2 million increase in commissions paid, primarily to new employees in the San Francisco Bay Area. This was partially offset by a $0.1 million increase in loan origination costs due to a higher number of loan originations, net of purchased consumer loans, period-over-period.

Data processing and software. The increase was primarily due to: (i) increased usage of our digital banking platform; (ii) higher transaction volumes related to the increased number of loan and deposit accounts; and (iii) an increased number of licenses required for new users on our loan origination and documentation system.

Professional services. The increase was primarily due to a $0.1 million increase in fees for 2024 audits and examinations.

Other operating expenses. The increase was primarily due to $0.1 million in operational losses on deposit accounts.

Provision for Income Taxes

Three months ended September 30, 2024, as compared to three months ended June 30, 2024

Provision for income taxes decreased slightly to $4.3 million for the three months ended September 30, 2024 from $4.4 million for the three months ended June 30, 2024, primarily driven by a slight decline in the effective tax rate. The effective tax rates were 28.21% and 28.84% for the three months ended September 30, 2024 and June 30, 2024, respectively.

Three months ended September 30, 2024, as compared to three months ended September 30, 2023

Provision for income taxes decreased by $0.5 million, or 9.47%, for the three months ended September 30, 2024 compared to the three months ended September 30, 2023. This decline was primarily driven by an overall decrease in pre-tax income combined with a $0.2 million adjustment to the provision during the three months ended September 30, 2023 to true-up the year-to-date effective tax rate which did not occur during the three months ended September 30, 2024. The effective tax rates for the three months ended September 30, 2024 and September 30, 2023, were 28.21% and 30.07% respectively.

Webcast Details

Five Star Bancorp will host a live webcast for analysts and investors on Tuesday, October 29, 2024 at 1:00 pm ET (10:00 am PT) to discuss its third quarter financial results. To view the live webcast, visit the “News & Events” section of the Company’s website under “Events” at https://investors.fivestarbank.com/news-events/events. The webcast will be archived on the Company’s website for a period of 90 days.

About Five Star Bancorp

Five Star is a bank holding company headquartered in Rancho Cordova, California. Five Star operates through its wholly owned banking subsidiary, Five Star Bank. The Bank has eight branches in Northern California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company’s forward-looking information and statements proves incorrect, then the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company’s forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Reports on Form 10-Q for the three months ended March 31, 2024 and June 30, 2024, in each case under the section entitled “Risk Factors,” and other documents filed by the Company with the Securities and Exchange Commission from time to time.

The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law.

Condensed Financial Data (Unaudited)

Non-GAAP Reconciliation (Unaudited)

The Company uses financial information in its analysis of the Company’s performance that is not in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Company believes that these non-GAAP financial measures provide useful information to management and investors that is supplementary to the Company’s financial condition, results of operations, and cash flows computed in accordance with GAAP. However, the Company acknowledges that its non-GAAP financial measures have a number of limitations. As such, investors should not view these disclosures as a substitute for results determined in accordance with GAAP. Additionally, these non-GAAP measures are not necessarily comparable to non-GAAP financial measures that other banking companies use. Other banking companies may use names similar to those the Company uses for the non-GAAP financial measures the Company discloses, but may calculate them differently. Investors should understand how the Company and other companies each calculate their non-GAAP financial measures when making comparisons.

Tangible shareholders’ equity to tangible assets is defined as total equity less goodwill and other intangible assets, divided by total assets less goodwill and other intangible assets. The most directly comparable GAAP financial measure is total shareholders’ equity to total assets. We had no goodwill or other intangible assets at the end of any period indicated. As a result, tangible shareholders’ equity to tangible assets is the same as total shareholders’ equity to total assets at the end of each of the periods indicated.

Tangible book value per share is defined as total shareholders’ equity less goodwill and other intangible assets, divided by the outstanding number of common shares at the end of the period. The most directly comparable GAAP financial measure is book value per share. We had no goodwill or other intangible assets at the end of any period indicated. As a result, tangible book value per share is the same as book value per share at the end of each of the periods indicated.

Pre-tax, pre-provision income is defined as pre-tax income plus provision for credit losses. The most directly comparable GAAP financial measure is pre-tax income.

The following reconciliation table provides a more detailed analysis of this non-GAAP financial measure:

Investor Contact:
Heather C. Luck, Chief Financial Officer
Five Star Bancorp
(916) 626-5008
hluck@fivestarbank.com

Media Contact:
Shelley R. Wetton, Chief Marketing Officer
Five Star Bancorp
(916) 284-7827
swetton@fivestarbank.com

Source: Crypto Insider

In the past seven days, over 1 million ounces have gone into gold ETFs, the biggest inflow since October 2022.

Bitcoin (BTC) traders seeking insights into when the world’s largest token might hit new lifetime highs should consider pulling up gold’s price chart on their trading screens. Historical data from 2020 suggests that bitcoin will likely surge to new highs once the yellow metal’s bullish momentum runs out of steam.

BTC, the leading cryptocurrency by market value, has been trading back and forth in a wide range between $50,000 and $70,000 since April, with several crypto-specific and macro factors consistently capping the upside. Meanwhile gold has surged by over 20% during the same time, reaching new record highs above $2,700. The yellow metal is up 37% this year. Silver, for its part, is up 43% this year after almost touching $35 on Tuesday, marking a 12-year high.

Gold started to move up from $1,450 at the end of 2019, front-running the monetary stimulus by the central banks and the COVID lockdowns, and set a new record high of over $2,000 per ounce in August 2020.

Meanwhile, bitcoin remained flat – apart from its sudden COVID drop – the whole time, hovering just below its the-then record high of $20,000 in one of its longest consolidation periods ever. However, as gold pulled back in late 2020, bitcoin started to run higher – surging from $10,000 to over $60,000 by March 2021. Perhaps a rotation occurred, but nevertheless, bitcoin waited for gold to stop climbing.

So, if the past is a guide, a pause in the gold rally will likely pave the way for stronger demand for BTC. That said, whether history will repeat itself remains uncertain and gold, as of now, shows no signs of uptrend exhaustion or demand slowdown.

According to the bold report, gold’s run has been fueled by inflows into gold ETFs, which on a 7-day basis have hit over 1 million ounces. These are the highest inflow into the ETFs over a 7-day period since October 2022. Most of these inflows were captured by SPDR Gold Shares (GLD), a gold fund – primarily used by U.S. retail investors – which has seen massive accumulation every month since July.

Inflows into spot bitcoin ETFs listed in the U.S. have also picked up. According to Farside data, on Oct. 23, net inflows totaled $192.4 million across all U.S. bitcoin ETF products. iShares Bitcoin Trust (IBIT) saw another massive inflow of $317.5 million, taking its total net inflow to $23.5 billion.

Similarly to the surge in gold ETF inflows, bitcoin ETFs have seen $2 billion in net inflows in the past seven trading days.

However, not all of the inflows are directionally holding; according to Sui Chung, CEO of crypto index provider CF Benchmarks, 60% of the recent inflows are directional holding, while the other 40% is made up of the basis trade.

Traders are optimistic that prices will surge to new record highs once the U.S. election is done and dusted.

Source: Crypto Insider

Transak, which is used by platforms like Metamask, Binance and Trust Wallet, says the leak was limited to “names” and “basic identity information.” A ransomware group says it has obtained more sensitive user data as well.

Transak, a crypto on-ramp used by a number of popular blockchain companies, has fallen victim to a data breach, the team disclosed in a blog post on Monday.

According to Transak, the leaked data was limited to “names” and “basic identity information.” However, a ransomware group that claimed responsibility for the attack claims to have obtained more sensitive user data as well.

“We recently discovered a security incident that impacted 1.14% of our user base,” Transak said in Monday’s blog post. “Importantly, no financially sensitive or critical information was compromised.”

A ransomware group that claimed responsibility for the breach says the breach included additional data from a larger subset of Transak’s customers.

“This breach has impacted all KYC [know your customer] DATA processed through Transak’s infrastructure,” the ransomware group claimed in a public Telegram group that it operates. “We have extracted more than 300GB of data, which includes sensitive personal documents such as government-issued IDs, proof of address, financial statements, and user selfies.”

Transak provides developers with tools to bridge users from fiat to crypto, such as by allowing them to purchase cryptocurrencies via credit card. According to its website, Transak has been integrated into major blockchain wallets like Metamask and Trust Wallet, among others. Crypto exchanges like Coinbase and Binance.US also use Transak’s services.

The ransomware group claims it has only released a subset of the stolen data. If Transak fails to pay a ransom, the group threatened to “leak the remaining data or sell it to the highest bidder.”

Source: Crypto Insider

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Paragon 28 securities between May 5, 2023, and August 8, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/FNA.

Case Details

The Complaint alleges that defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Paragon 28’s financial statements were misstated; (2) Paragon 28 lacked adequate internal controls and at times understated the extent of the issues with its internal controls; and (3) as a result, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.

What’s Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/FNA or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Paragon 28 you have until November 29, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com

Source: Crypto Insider

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at denuncia@lineadedenunciagap.com. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

Source: Crypto Insider

 Clark is building a 467,000-square-foot, 350-bed forensic behavioral health hospital for skilled psychiatric treatment in a secure, therapeutic setting. The scope also includes a 53,000-square-foot administrative building.

 “We are honored to be a part of this important project and work with both DSHS and the Department of Enterprise Services to bring this new facility to fruition,” said Clark Senior Vice President Eric Olson. “This project has the capability to transform the access to mental health in this region, and we can’t wait to start the construction phase.”

 Work began in the spring of 2024, with the demolition of 11 existing outdated structures across 35 acres to prepare the site for vertical construction.  

 Clark is the general contractor for this project, with HOK and architecture+ serving as the architects. KPFF is the structural and civil engineer, and Affiliated Engineers, Inc. (AEI) is the mechanical, electrical, and plumbing engineer.

 Project completion is slated for 2028.

####

 ABOUT CLARK CONSTRUCTION GROUP

Clark Construction Group is one of the largest building and infrastructure companies in the United States. Our portfolio spans every major building market, from public to private, corporate to cultural, education to entertainment, and the infrastructure connecting it all – power, transit, water, and roadways. Since 1906, we’ve been delighting and delivering value to our clients and project partners, providing diverse opportunities for our team, and strengthening the communities where we live. With offices strategically located across the country, we pride ourselves on being a local builder with national reach. To learn more, visit www.clarkconstruction.com.

Attachment

• Western State Hospital New Forensic Hospital Groundbreaking

Source: Crypto Insider

To access the call by phone, please visit this link for registration (phone registration link) to be provided with dial in details. To avoid delays, we encourage participants to register a day in advance or at a minimum 15 minutes before the start of the call.

A live webcast of the conference call will also be available on the company’s investor relations website at https://investor.onepeloton.com/news-and-events/events.

For those unable to participate in the conference call, a replay will be available on the investor relations page of the company’s website for 30 days.

About Peloton
Peloton (NASDAQ: PTON) provides Members with expert instruction, and world class content to create impactful and entertaining workout experiences for anyone, anywhere and at any stage in their fitness journey. At home, outdoors, traveling, or at the gym, Peloton brings together innovative hardware, distinctive software, and exclusive content. Founded in 2012 and headquartered in New York City, Peloton has millions of Members across the US, UK, Canada, Germany, Australia, and Austria. For more information, visit www.onepeloton.com.

Investor Relations Contact:
investor@onepeloton.com

Source: Crypto Insider

Here are the key updates from the event:

1. Next-Generation Orb: Expanding the Reach of Proof of Human Verifications

World unveiled the latest Orb, a revolutionary new device that enhances the efficiency and scalability of World ID verifications. Powered by the latest NVIDIA Jetson chipset, the new Orb offers nearly five times the AI performance compared to its predecessor. Its updated design reduces complexity with 30% fewer parts and includes a removable external SD card for full auditability.

The new Orb enables the creation of more flexible verification models, including flagship locations, on-demand Orbs, and self-serve kiosks—accelerating the deployment of proof of human verifications across the globe.

2. World ID 3.0: Credentials and Enhanced Privacy Features

The launch of World ID 3.0 introduces new features like World ID Credentials, allowing users to store and use information from their NFC-enabled passports on their devices. This enables World ID holders to verify their age, nationality, or passport ownership without revealing their full identity.

Additionally, World ID 3.0 brings stronger privacy protections with AMPC (Advanced Multiparty Computation) and World ID Deep Face, a new tool designed to combat online fraud and enhance security in digital interactions.

3. World App 3.0: The Super App for Humans

World announced the release of World App 3.0, a redesigned platform built to scale with the expanding World Network. It now supports Mini Apps, allowing third-party apps to integrate directly with World ID, Wallet, and Contacts, all while maintaining user anonymity.

The updated World App also includes enhanced wallet features like Vault and World Pay (where available), and it supports World ID Credentials, offering greater utility and security for users.

4. World Chain Mainnet Launch

The highly anticipated World Chain mainnet is officially live. With the migration of over 15 million World ID holders and World App users to the network, World Chain is the first blockchain designed specifically to prioritize human activity and transactions.

World Chain is supported by leading blockchain services, including Optimism, Alchemy, Uniswap, Safe, Dune, and Etherscan, ensuring a robust and scalable infrastructure for users worldwide.

5. Worldcoin Becomes World Network

As the scope and scale of the project continue to expand, Worldcoin has officially rebranded as World Network. The name change reflects the project’s broader mission to accelerate progress for all humanity. World Network now stands on three key pillars: World Chain, World ID, and Worldcoin—a network of verified humans designed to ensure an optimistic future where humans remain at the center of AI development.

About World Network

Initially developed by Sam Altman, Alex Blania and Max Novendstern, World Network is intended to be the world’s largest, most inclusive identity and financial public utility accessible by everyone: an open network supported by a global community of developers, individuals, economists, and technologists. Stewarded by the World Foundation, the project aims to expand global economic participation and accessibility.

About Tools For Humanity

Tools for Humanity (TFH) is a global technology company established to accelerate the transition towards a more just economic system. It led the initial development of World Network and operates the World App. It is governed entirely independently of the World Foundation. Over time, TFH will continue to develop important tools supporting World Network and beyond. Tools for Humanity Corporation is a Delaware (U.S.) corporation headquartered in San Francisco, California. To learn more, visit: https://www.toolsforhumanity.com/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/80a18d67-54e6-435d-9234-25420ac00506

Source: Crypto Insider