Quoin Pharma $104.5M Financing Through Private Placement

 Quoin Pharmaceuticals (QNRX) became the top-four trending ticker on Stocktwits on Friday morning after the stock jumped nearly 300% after the company announced that it has entered into a securities purchase agreement with new healthcare-focused institutional investors, with the potential to raise $104.5 million in gross proceeds.

The late clinical-stage specialty pharmaceutical company focused on rare and orphan diseases said that this purchase agreement also includes an initial upfront funding of $16.5 million and up to an additional $88 million upon the potential cash exercise of accompanying warrants at the election of the investors.

The firm added that the private placement was priced at a premium to the company’s prior day’s closing stock price. Quoin said that the financing includes participation from new healthcare-focused investors, including AIGH Capital Management, Soleus Capital, Nantahala Capital, Diadema Partners, Stonepine Capital Management, ADAR1 Capital Management, and Velan Capital, among others.

Retail sentiment on Quoin jumped to ‘extremely bullish’ from ‘bearish’ territory compared to a day ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.

Quoin said it will issue an aggregate of 1,993,940 American Depository Shares (ADSs) and accompanying warrants to purchase up to an aggregate of 7,975,760 ADSs, at a combined purchase price of $8.25 per ADS and accompanying warrants.

The company said it intends to use the upfront net proceeds for general corporate purposes, which may include operating expenses, research and development, including completion of clinical development of QRX003 for Netherton Syndrome, working capital, future acquisitions, and general capital expenditures.

The aggregate net proceeds are expected to be sufficient to fund the company into 2027. Shares of Quoin have gained nearly 41% this year and have jumped 76% in the last 12 months.

https://www.msn.com/en-us/money/topstocks/qnrx-stock-soars-300-after-104-5m-financing-through-private-placement/ar-AA1OdQ1b

Trump now sees 'no reason' to meet Xi

 United States President Donald Trump declared on Friday that "there seems to be no reason" for him to meet his Chinese colleague Xi Jinping, due to "strange things" that are "happening in China," adding that the country is "becoming very hostile," and informing other nations of Beijing's intention to "impose export controls."

"Nobody has even seen anything like this," the US president wrote on Truth Social, referring to China instituting export controls on rare earths. Trump argued that Beijing's measures would "make life difficult for virtually every country in the world, especially for China." Furthermore, he revealed that Washington was "contacted by other countries who are extremely angry at this great trade hostility which came out of nowhere."

Trump and Xi were scheduled to meet at the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea in late October.

https://breakingthenews.net/Article/Trump-now-sees-'no-reason'-to-meet-Xi/64961893

Trump threatens 'massive' tariffs on China

 United States President Donald Trump stated on Friday that Chinese products may be subject to new extreme tariffs and that he is weighing the options with his team.

"I never thought it would come to this but perhaps, as with all things, the time has come. Ultimately, though potentially painful, it will be a very good thing, in the end, for the U.S.A. One of the Policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America," the American leader wrote on his Truth Social account.

Trump also claimed that "for every Element that they [China] have been able to monopolize," Washington has two, while also announcing that "many other countermeasures" are "under serious consideration." In the same post, the president also declared that there is no reason to speak to his Chinese counterpart, Xi Jinping.

https://breakingthenews.net/Article/Trump-threatens-'massive'-tariffs-on-China/64961921

Gaza Ceasefire Holds As IDF Withdraws, Kicking Off 72-Hour Countdown To Hostage Release

 After Thursday night Israel's security cabinet formally approved Trump's 20-point peace plan for Gaza, the ceasefire has formally taken effect Friday, and the Israel Defense Forces (IDF) reportedly completed a withdrawal to agreed-upon deployment lines within Gaza at noon.

The IDF withdrawal, which occurred under cover of artillery fire and airstrikes in some areas, starts a 72-hour countdown during which Hamas is to release all remaining hostages as part of the first phase of the US-brokered deal. The IDF released footage of its drawdown.

AFP/Getty Images

"CENTCOM has confirmed that the Israeli Defense Forces completed the first phase withdrawal to the yellow line at 12PM local time. The 72 hour period to release the hostages has begun," Steve Witkoff posted on X, offering US verification.

With the withdrawal, Israel's military now effectively controls a little over half of the Strip's territory, but which is mostly outside urban zones.

Al Jazeera is reporting that displaced residents of the north have begun seeking to return to their largely devastated homes and communities. This as Gaza's Government Media Office is urging Palestinians "to cooperate and be disciplined" as the resumption of aid starts flowing.

Hamas-linked Palestinian police forces in Gaza have begun moving back into areas the IDF withdrew from, saying officers will "fulfil their duties of serving and supporting citizens, and protecting public and private property."

"We call on citizens to be extremely cautious and vigilant when returning to their homes and residential areas for the presence of suspicious objects, hazardous waste, and unexploded bombs," it said.

In some places, fighting and shelling continued even as the historic ceasefire was announced, as Israeli media documents:

• Media outlets in Gaza reported Friday that five people were seriously injured in an IDF strike on a school that had been serving as a shelter for displaced people in Jabalia, in northern Gaza City.
• ahead of the deal taking effect, an IDF reservist soldier was killed in a Hamas sniper attack in Gaza City on Thursday afternoon.

IDF Spokesman Brig. Gen. Effie Defrin said in a video address while getting visibly emotional the ceasefire in the Gaza Strip "is an emotional moment for the people of Israel and for the IDF troops and soldiers who have fought and acted over the past two years with courage, bravery, and out of a sense of mission and dedication."

The Red Cross in Israel is getting ready to receive the hostages, and early Hamas reportedly indicated it will not release them with any kind of ceremony or other propaganda, as it did in initial rounds.

Hamas has meanwhile said it got no clear indications on its submitted list of Palestinian prisoners it expects to be returned, instead, as Times of Israel details:

Israel has published the full list of 250 Palestinian security prisoners serving life sentences slated for release as part of the hostage-ceasefire agreement.

The list, published by the Justice Ministry, comes the morning after the cabinet approved the US-backed deal, aimed at returning the remaining hostages and permanently ending the Gaza war. Of the 250 prisoners, 15 will be freed to East Jerusalem, 100 to the West Bank and 135 are slated for deportation.

Hamas wanted to see Popular Front leader Ahmad Sa’adat and senior Hamas figures Ibrahim Hamed and Hassan Salameh on the list of those to be released, but they are not.

Meanwhile Prime Minister Netanyahu has threatened that full war will return to the Gaza Strip if Hamas doesn't fulfil its end of the deal, and if it doesn't do things "the easy way".

https://www.zerohedge.com/geopolitical/gaza-ceasefire-holds-idf-withdraws-agreed-line-starting-72-hour-countdown-hostage

UMich Survey Shows Inflation Fears Fading

Amid a barren landscape of macro data due to the shutdown, the fact that many are strongly focused on the incredibly noisy and historically dismissed University of Michigan sentiment survey for any signals on inflation expectations or job hopes is in itself noteworthy.

So, with a big pinch of salt we dig in and see that the preliminary October headline sentiment index dropped very marginally (but was better than expected - 55.0 vs 54.0 exp vs 55.1 prior) with Current Conditions rising (from 60.4 to 61.0) and Expectations falling (from 51.7 to 51.2)...

Source: Bloomberg

On the inflation side, 1Yr expectations fell to 4.6% from 4.7% (while 5-10Y expectations were flat at 3.7%)...

Source: Bloomberg

Democrats continue to dominate the upside angst for medium-term inflation expectations while the market and other surveys remain unmoved...

On the unemployment side, the balance of respondents who expect a rise in unemployment rose modestly (but remain near multi-year lows)...

Source: Bloomberg

Under the hood, Republicans' confidence is at cycle highs while Democrats' confidence fell to Trump term lows, smashing the spread between the two to a record high...

Source: Bloomberg

UMich Surveys of Consumers Director, Joanne Hsu, noted that "improvements this month in current personal finances and year-ahead business conditions were offset by declines in expectations for future personal finances as well as current buying conditions for durables. Overall, consumers perceive very few changes in the outlook for the economy from last month. Pocketbook issues like high prices and weakening job prospects remain at the forefront of consumers’ minds."

Meanwhile, Hsu notes that "interviews reveal little evidence that the ongoing federal government shutdown has moved consumers’ views of the economy thus far."

https://www.zerohedge.com/markets/umich-survey-shows-inflation-fears-fading

Obese Democrat Governor Criticizes Hegseth For Doing Push Ups

 by Steve Watson via Modernity.news,

Rotund Democrat Governor of Illinois, JB Pritzker, made a bizarre decision to criticise someone else for being fit and healthy, and it did not go well for him.

Pritzker, who looks like he hasn’t done any physical exercise for a decade or more, felt it prudent to verbally attack Secretary of War Pete Hegseth for daring to take part in a Guinness book of world records push up event.

Perhaps Pritzker should put down the grab bag of Cheetos and have a good long think about what he just said.

He gave Hegseth had an absolute softball lay up, but it seems the SecWar chose to take the high ground and respond with some restraint.

Yeah, that could’ve been a LOT more scathing.

Others went there.

Pritzker has been calling Trump a Nazi fascist every day while demanding that anyone calling Democrats fascists is dangerous.

He’s also been spreading BlueAnon conspiracy theories about military dictatorship takeovers and election cancellations.

Let’s enjoy more of these…

But the undisputed winner is the person who made this video…

https://www.zerohedge.com/political/obese-democrat-governor-criticizes-hegseth-doing-push-ups

Institutions Plan To Double Crypto Exposure By 2028, State Street Research Finds

 by Micah Zimmerman via BitcoinMagazine.com,

Institutional adoption of digital assets — like bitcoin — is booming, with average portfolio exposure expected to double from 7% to 16% within three years, according to new research from State Street. 

State Street’s study touched on how tokenization and blockchain technology are moving from experimentation to execution across global investment portfolios.

The study surveyed senior executives across asset management, trying to decipher how institutions are integrating digital assets, tokenization, and emerging technologies like AI and quantum computing into their strategies. 

Nearly 60% of respondents plan to increase digital asset allocations over the next year, while most expect exposure to double by 2028.

“Institutional investors are moving beyond experimentation — digital assets are now a strategic lever for growth, efficiency, and innovation,” said Joerg Ambrosius, president of Investment Services at State Street.

Tokenization is leading the shift

The first wave of tokenization is expected to occur in private equity and private fixed income, areas that have historically been illiquid and opaque. 

By 2030, more than half of institutions expect between 10% and 24% of total investments to be executed through tokenized instruments, the survey found. 

Tokenization — the process of issuing blockchain-based representations of real-world assets — allows fractional ownership, faster settlement, and improved transparency. 

State Street’s research shows that 52% of respondents see tokenization transparency as the top benefit, followed by faster trading (39%) and lower compliance costs (32%). 

Nearly half believe these efficiencies could translate into cost savings exceeding 40%.

Dedicated crypto teams are emerging

As adoption deepens, digital assets are being embedded into business operations. 

Four in ten institutions now have dedicated digital asset units, and nearly one-third have integrated blockchain operations into their overall digital transformation strategy. Another 20% said they plan to follow suit.

Donna Milrod, State Street’s chief product officer, said clients are “rewiring their operating models around digital assets,” pointing to projects spanning tokenized bonds, equities, stablecoins, and central bank digital currencies.

Crypto still drives returns

Despite growing institutional attention to tokenized assets, crypto remains the primary driver of digital asset returns. 

About 27% of respondents said Bitcoin currently generates the highest returns in their digital portfolios, with 25% expecting it to remain a top performer over the next three years. 

Stablecoins and tokenized real-world assets account for the largest portion of institutional digital holdings, but traditional cryptocurrencies continue to dominate the profit picture.

State Street warned that while digital assets are becoming mainstream, institutions are cautious about the pace of change. 

Only 1% of respondents believe most investments will be made through tokenized assets by 2030, but the majority expect steady progress as infrastructure and regulation mature.

“Institutional confidence in digital assets is no longer theoretical,” Ambrosius said. “It’s operational.”

https://www.zerohedge.com/crypto/institutions-plan-double-crypto-exposure-2028-state-street-research-finds