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Here’s what American Airlines’ CEO just said about a possible merger with United

It’s a precarious time for the airline sector, as a surge in fuel costs due to the Iran conflict is forcing carriers to cut capacity.

WPVS — A Better Valuation Framework for RWA Lending Protocols

TVL is the default metric for DeFi lending protocols. For this category specifically, it is actively backwards. I built a replacement framework and applied it to Clearpool — the market is pricing it at 8 cents per dollar of protocol value. Here's the full methodology. WPVS — A Better Valuation Framework for RWA Lending Protocols The core problem: When a lending protocol deploys capital to a borrower, TVL falls. The protocol is doing exactly what it was designed to do — yet every data aggregator shows a declining number. When borrowers repay and capital sits idle, TVL rises. The protocol is doing nothing — yet dashboards show recovery. The idle bank looks healthier than the active one. That is a structural flaw, not a data quirk. The Framework Every pool in a lending protocol falls into one of four functional types. Each requires a different metric. Using TVL across all four produces distorted comparisons. Type 1 — Active Lending Pools Capital deployed to institutional borrowers on an unsecured or undercollateralized basis. Utilization Rate = Active Loans / Total Originations Lending Score = Total Originations x (Utilization Rate)^0.4 The exponent of 0.4 penalizes protocols where originations are purely historical but rewards active current deployment. Weight: 2.0x — hardest to execute, highest moat. Type 2 — Treasury / Savings Vaults Capital in short-duration government instruments — T-Bills, repo, money market funds. Treasury Score = TVL x (1 + APY / 10) TVL actually works here because the capital isn't being deployed — it sits in instruments. The APY multiplier differentiates product quality. Weight: 0.8x — commoditized, minimal moat. Type 3 — Real World Credit Vaults Capital deployed into real economy credit — housing finance, trade finance, emerging market lending. RWA Score = TVL x (1 + APY / 5) The divisor of 5 (vs 10 for Treasury) gives a larger APY multiplier reflecting the complexity premium. Weight: 1.5x — real economic impact, complexity premium. Type 4 — Market Neutral / Arbitrage Vaults Delta-neutral strategies — futures basis arbitrage, funding rate capture. Arb Score = TVL x (1 + APY / 7) Weight: 1.2x — valuable but replicable. No durable moat. The Combined Formula WPVS = (Lending Score x 2.0) + (Treasury Score x 0.8) + (RWA Score x 1.5) + (Arb Score x 1.2) Sentiment-to-Value Ratio = Market Cap / WPVS Interpretation: Below 0.5x — potentially deeply undervalued 0.5x to 1.5x — fair value range 1.5x to 3.0x — growth premium Above 3.0x — speculative premium Case Study: Clearpool Finance — April 22, 2026 Clearpool has originated $937M in institutional loans with zero defaults since April 2022. As of April 2026 the protocol also runs Treasury vaults, arbitrage vaults, and real world credit vaults through its Ozean L2 initiative. Pool inventory: Prime Active Loans: $6.5M active / $937M originated Hex Trust Treasury Pool: $29.5M USDX @ 3.5% APY X-Pool (Arb): $1.46M USDX @ 8-15% avg APY OLA Vau

Strait of Hormuz closure poses largest energy security threat: IEA

The closure highlights vulnerabilities in global energy supply chains, prompting potential geopolitical shifts and market volatility. The post Strait of Hormuz closure poses largest energy security threat: IEA appeared first on Crypto Briefing.

Chipmaker MaxLinear Beats Q1 Views, Guides Up. MXL Stock Surges.

Chipmaker MaxLinear delivered a beat-and-raise first-quarter report. MXL stock surged on the news. The post Chipmaker MaxLinear Beats Q1 Views, Guides Up. MXL Stock Surges. appeared first on Investor's Business Daily.

Zscaler CEO: Never Been Bigger Demand for Our Services

Zscaler Chairman, CEO, & Co-Founder Jay Chaudhry discusses Anthropic's Mythos AI and the cybersecurity risks large enterprises are struggling to protect themselves from. He talks with Romaine Bostick and Katie Greifeld on "The Close." (Source: Bloomberg)

Arca Continental, S.A.B. de C.V. (EMBVF) Q1 2026 Earnings Call Transcript

West Bancorporation, Inc. (WTBA) Q1 2026 Earnings Call Transcript

RLI Corp. (RLI) Q1 2026 Earnings Call Transcript

No rape took place outside Epsom church, say police

The force says the woman concerned had injured her head on a night out and made 'a confused report'.

Beyond the Breach: Why rsETH’s Depegging Demands a New Standard for Bridge Security

Following a breach by suspected North Korea-backed hackers, KelpDAO’s liquid restaked token, rsETH, depegged from ether. Flare CPO Filip Koprivec argues that the rsETH incident proves bridge security must be treated as a core component of collateral risk management. Key Takeaways: rsETH depegged to $1,723 on April 23 after KelpDAO suffered a breach by suspected […]

Trump warns ‘clock is ticking’ as USS Bush arrives near Iran

Heightened tensions could destabilize the region, impacting global markets and diplomatic relations, while increasing the risk of conflict. The post Trump warns ‘clock is ticking’ as USS Bush arrives near Iran appeared first on Crypto Briefing.

The 'Standout' From Edwards Lifesciences' Broad-Based Sales Beat

Edwards Lifesciences stock advanced late Thursday on better-than-expected first-quarter sales and earnings. The post The 'Standout' From Edwards Lifesciences' Broad-Based Sales Beat appeared first on Investor's Business Daily.

‘Magic: The Gathering’ players shouldn’t worry. The Hasbro hack hasn’t hurt deliveries.

Hasbro’s stock jumped after the toy maker looked to dispel worries that “Magic: The Gathering” shipments would be affected by a recent cyberattack.

Tesla's Terafab Dream

Investors Rotating Out of Tech Are Making a Mistake. This AI Growth Stock's Revenue Just Hit a Record.

Broadcom's soaring revenue indicates the AI market's expansion is far from over.

Meta Will Lay Off 8,000 Employees as AI Focus Intensifies

Social media giant Meta is redirecting resources toward AI as CEO Mark Zuckerberg predicts the tech will continue to revolutionize work.

Will Zhao v Ding draw the biggest TV audience in snooker history?

China prepares for the last-16 match between Ding Junhui and Zhao Xintong – the country's first ranking event winner and trailblazer against its first - and the defending - world champion.

Literally arguing with bots so much that face ID is starting to sound normal

literally had a back and forth yesterday in a thread for like 20 minutes before I relized the dude arguing with me was just a chatgpt script hallucinating facts. it’s actually making me lose my mind. the internet feels so incredibly dead right now. Saw that interview with huffman where he said they might start requiring face id or touch id just to prove you actually have a pulse before posting. and the crazy part is... I kinda get the panic? the ai spam is definitly destroying the site But handing over my device biometrics just to shitpost anonymosly feels like a massive step too far. If we really have to do this whole "proof of human" thing to save platforms from bot nets, it shouldn't be tied to phone manufacturers. I know there are alternatives where you can just go to an Orb and get a generic verification that doesnt link to your real name or data. which honestly makes alot more sense than trusting social media ceos with device-level biometric access. but man... scanning a face just to scroll reddit? am i overreacting or does this feel completely insane to anyone else? submitted by /u/Majestic-Strain3155 [link] [comments]

“Photonics Investor”

submitted by /u/tcuso [link] [comments]

SAP Reports Cloud Growth That Beats Estimates in AI Push

SAP SE reported revenue growth from its cloud services that beat analysts’ estimates after Europe’s biggest software company began integrating artificial intelligence agents into the service.

Anchorage Digital adds Marinade-powered staking strategies for Solana clients

The integration with Marinade Finance lets clients earn yield via validator selection strategies while retaining custody and control within a single platform.

SES AI appoints Ray Liu as CFO, Jing Nealis to step down

Erie Indemnity GAAP EPS of $2.88 misses by $0.18, revenue of $1.01B

US orders 4,300 JASSM-ER missiles amid ongoing Iran operations

The missile order underscores a significant US military commitment, potentially heightening geopolitical tensions and impacting market perceptions. The post US orders 4,300 JASSM-ER missiles amid ongoing Iran operations appeared first on Crypto Briefing.