Key Highlights

• Unity reported preliminary Q1 revenue of $505M–$508M, surpassing its own forecast of $480M–$490M and beating the Street’s $494M estimate.
• The company boosted its adjusted EBITDA outlook to $130M–$135M from the previous $105M–$110M range, representing a 58% increase versus the prior year.
• Vector, Unity’s artificial intelligence-driven advertising platform, powered the outperformance and now represents approximately 80% of Strategic Grow segment revenue.
• The company plans to shut down the ironSource Ads Network by April 30 and has engaged advisors to divest its Supersonic game publishing division.
• Wall Street firms including Citizens, Wedbush, and William Blair maintained positive ratings, with Citizens setting a $37 price objective.

Unity Software significantly exceeded its first-quarter projections, propelling shares approximately 15% higher in early Friday trading. The company disclosed the preliminary financial results in a Thursday evening announcement.

Unity Software Inc., U

Management now projects first-quarter revenue landing between $505 million and $508 million. This handily surpasses the company’s previous outlook range of $480 million to $490 million, as well as the Wall Street consensus estimate of $494 million compiled by FactSet. The figure represents approximately 17% growth on a year-over-year basis.

Unity Software Inc., U

Regarding profitability, Unity anticipates adjusted EBITDA will reach between $130 million and $135 million. This significantly exceeds the company’s earlier projection of $105 million to $110 million, marking a substantial 58% climb compared to the year-ago period.

Chief Executive Matt Bromberg highlighted Vector, the company’s artificial intelligence-powered advertising solution, as the primary catalyst behind the strong performance. Vector employs machine learning to connect players with appropriate games and has been generating superior long-term returns for advertising partners, according to management.

Vector currently comprises nearly 80% of the Strategic Grow segment’s revenue. The entire Grow division is projected to generate approximately $352 million during the first quarter.

Strategic Divestitures of Underperforming Assets

Unity simultaneously revealed plans to discontinue the ironSource Ads Network, with operations ceasing on April 30. During the latest quarter, ironSource contributed merely 11% of overall revenue expansion.

Additionally, the company has retained a financial advisor to pursue strategic alternatives for its Supersonic game publishing operations. Management indicated these strategic moves will accelerate top-line growth, enhance adjusted EBITDA performance, and boost operating margins.

The restructuring initiative has garnered favorable analyst commentary. William Blair’s Dylan Becker observed that the Grow segment, once these legacy operations are removed, is already expanding at a notably faster pace than the consolidated business.

Citizens maintained its Market Outperform recommendation with a $37 valuation target. The firm highlighted that Vector’s positive momentum persists, while data integration capabilities with Vector have entered the testing phase. Unity’s in-app purchase commerce solution is also scaling up.

Wedbush reaffirmed its Buy stance with a $30 price objective. Meanwhile, BofA Securities raised Unity from Underperform to Neutral, pointing to a more balanced risk profile.

Valuation Analysis Points to Upside Potential

Unity’s earnings per share are expected to improve dramatically from -$0.96 to $1.02 during the current fiscal year, based on InvestingPro projections. Citizens anticipates EBITDA margin expansion as the high-margin Vector platform captures an increasingly larger portion of total revenue.

William Blair’s Becker emphasized that Unity’s valuation remains attractive relative to direct competitors when examining 2026 revenue and EBITDA multiples.

Separately, Unity is said to be evaluating strategic alternatives for its China operations, including a possible divestiture that could command a valuation exceeding $1 billion.

Bitcoin (BTC) remained under pressure on Friday as on-chain data showed large holders were still adding to their positions. 

The move came as retail wallets also kept buying, while market sentiment stayed weak amid fresh geopolitical risk and renewed selling activity from Bhutan-linked wallets.

Santiment said wallets holding between 10 and 10,000 BTC added 61,568 BTC over the past month. The firm said that amounted to a 0.45% increase in holdings, even as Bitcoin slipped to the $68,100 area during the latest pullback.

The same data showed that smaller wallets did not step back. Santiment said wallets with less than 0.01 BTC added 0.42% over the same period, a pace close to the increase seen among whales and sharks. The analytics firm said large-wallet buying usually works best for price when retail investors are reducing exposure instead of matching the move.

Santiment said the current setup has not yet produced a clear breakout. It stated that a stronger upward move has often appeared when larger holders keep accumulating and smaller traders stop chasing price.

Bitcoin price weakens after recent rejection

Bitcoin traded at $66,349 at the latest check on Friday, according to market data from the finance tool. The same data showed an intraday high of $69,789 and a daily decline of almost 5%, keeping the asset well below the $72,000 level seen earlier in the week.

The recent decline has kept traders focused on whether on-chain accumulation can offset near-term selling pressure. Market watchers have tracked a pullback from the recent rebound, with price action failing to hold near the upper end of the current range.

Bhutan-linked wallets added to that pressure this week. Reporting based on Arkham Intelligence data said the Royal Government of Bhutan moved 519.707 BTC worth about $36.75 million, pushing its 2026 outflows above $150 million.

Middle East risk keeps sentiment fragile

Geopolitical tension has also stayed in focus. Reuters reported that the Pentagon is weighing the deployment of up to 10,000 additional US ground troops to the Middle East to give President Donald Trump more military options as he considers peace talks with Tehran.

That report followed earlier Reuters coverage that thousands of additional US troops were already expected to move to the region. The buildup has added another layer of caution for risk assets, including crypto, as traders monitor the chance of wider conflict around Iran.

The crypto market tumbled to the lowest levels in more than two weeks, with bitcoin BTC$66,704.46 dropping below $67,000 and ether (ETH) closing in on $2,000. The CoinDesk 20 Index (CD20) lost 2.2% since midnight UTC, reaching its lowest since March 9.

The fall coincided with a drop in U.S. equities. Nasdaq 100 futures are now trading at 23,760, 10% below this year’s high from January.

The risk-off atmosphere was spurred by rising oil prices and fears that the war in Iran would not de-escalate as quickly as many had hoped. Oil remains above $100 per barrel, stoking inflation concerns.

Sections of the altcoin market were harder hit on Friday, with the likes of ETHFI losing 6% since midnight. WLD, WIF, SEI and FET all lost between 3.6% and 4.7%.

Derivatives positioning

• Long crypto futures bets, or bullish positions on market direction, bore the brunt of liquidations over the past 24 hours, with nearly $300 million liquidated, compared with just $50 million in short positions.
• That’s the fifth time in 10 days the longs have neared that level of punishment, an indication traders were predominantly positioned for the Iran war to translate into a price rally that has not materialized.
• XRP’s price fell over 2.5% in 24 hours, while open interest in futures has increased by 2% to 1.95 billion XRP, the most since Feb. 2.
• That combination represents renewed investor interest in shorting the falling market. Negative cumulative volume delta and sub-zero funding rates suggest the same.
• Futures tied to bitcoin, solana, dogecoin and BNB displayed an XRP-like bearish profile.
• Memecoin SHIB has the largest negative open-interest–adjusted cumulative volume delta among major tokens, signaling aggressive derisking, or shorting, by traders.
• Canton Network’s CC token stood out with positive funding rates and an increase in futures OI, both signaling growing demand for bullish exposure.
• Bitcoin and ether’s 30-day implied volatility indices, BVIV and EVIV, continued to drop despite weak spot prices, suggesting that traders aren’t panicking yet and do not anticipate a turbulent selloff.
• On Deribit, bitcoin options worth over $15 billion expired early Friday. So, the supposed expiry-related price magnet of $75,000 is no longer valid, which opens doors for deeper declines amid a worsening macro outlook.
• Bitcoin and ether puts are again trading at 6 to 8 volatility premium to calls across all expirations, risk reversal shows. It indicates sticky demand for downside protection.

Token talk

• The altcoin market showed its fragility again on Friday, failing to cling on to key levels of support in a low-liquidity trading environment.
• The CoinDesk Computing Select Index (CPUS) was the worst-performing benchmark, tumbling by 2.3% while the bitcoin-dominant CoinDesk 20 (CD20) dropped 1.2%.
• One token that bucked the bearish trend was ONDO, which rose after Ondo Finance, an asset management company, said it agreed to tokenize five Franklin Templeton exchange-traded funds (ETFs) and bring them to the Ondo Chain.
• The token is up by more than 8% in the past 24 hours, although it gave back some of those gains since midnight UTC.
• The average relative strength index (RSI) across all crypto tokens remains neutral despite the selloff, suggesting further declines are likely on Friday.

Yesterday, shares of Meta Platforms saw a sharp decline, dropping by approximately 8%, with trading closing below the $550 level for the first time since late April 2025.

Why META Shares Declined

The move was driven by a combination of factors, including:

→ Jury ruling. According to media reports, a jury ordered Meta to pay $375 million for misleading parents about the safety of Instagram and Facebook. The court also found the company liable for developing addictive algorithms that harm teenagers’ mental health.

→ Confirmed capital expenditure (CapEx) for 2026 in the range of $115–135 billion. Significant funds are being directed towards energy infrastructure, including a 6.6 GW nuclear energy deal to power the Prometheus supercomputer. The market may question whether returns on AI investments will justify such large-scale spending.

Sentiment has also been weighed down by reports of plans to cut up to 20% of the workforce. While layoffs are typically viewed positively due to cost savings, in this case they may signal that profit margins are being squeezed more than expected due to AI-related expenditure.

Technical Analysis of META

At the end of January, we:
→ constructed a system of two trend channels;
→ noted that META’s share price had moved above the psychological $700 level.

As it turned out, this was a bull trap formed in the wake of strong quarterly earnings. In early February, the price fell towards the lower boundary of the long-term ascending channel, and by the 13th, that boundary was broken under selling pressure.

As a result, the upward trajectory is losing relevance, giving way to the previously identified descending trend channel. In this context, the bearish breakout zone at $620–640 may now act as resistance, where sellers previously showed strength.

Additionally, it is worth noting that:
→ the psychological $600 level has lost its role as support;
→ yesterday’s candle featured a wide body with a close near the low, accompanied by high volumes — a clear sign of heavy selling pressure.

Against this backdrop, it cannot be ruled out that continued bearish control may push META’s price towards the lower boundary of the red channel.

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Vietnamese authorities have opened a wide fraud case tied to the ONUS crypto ecosystem after detaining several suspects and accusing them of using token promotions and controlled trading to take investor funds. 

The case puts fresh focus on crypto enforcement in one of the world’s busiest retail digital asset markets.

Vietnam’s Ministry of Public Security launched criminal proceedings on March 23 over alleged “appropriating property through computer networks” and “money laundering” linked to the ONUS ecosystem, according to local reporting that cited the ministry’s investigation agency. The probe covers Hanoi and several other provinces and cities.

Authorities named several suspects in the case, including Vuong Le Vinh Nhan, Tran Quang Chien, and Ngo Thi Thao, based on Vietnamese reports. Investigators say the group promoted and traded tokens through the ONUS platform while keeping control over supply, demand, and pricing.

Investigators allege the group used promotions and coordinated trading activity to present certain tokens as real investment products while managing their markets from the center. Local reports said the case involves tokens such as VNDC, ONUS, and HNG.

Vietnamnet reported that police view the matter as one of the country’s largest cybercrime investigations tied to digital assets. Authorities have not published a full public breakdown of investor losses, though reports on the case said the scheme drew in funds worth billions of US dollars.

Vemanti Group said it learned through the ministry’s announcement and local media that Nhan Vuong, its board chairman, and Chien Tran, a board member, had been indicted. The company said it had received no earlier notice from authorities in any jurisdiction before the public reports appeared.

Vemanti added that it had hired US legal counsel to review the matter. The statement linked the investigation to ONUS Pro, the platform at the center of the Vietnam case.

Vietnam’s crypto market faces more fraud scrutiny

The case lands at a time when Vietnam remains a major crypto market. Chainalysis ranked Vietnam fourth in its 2025 Global Crypto Adoption Index, placing it among the world’s most active countries for grassroots digital asset use.

Regional enforcement has also widened beyond Vietnam. In India, the CBI said it arrested a Mumbai-based suspect accused of sending people to scam compounds in Myanmar, where trafficked victims were allegedly forced to run online fraud, including cryptocurrency investment scams and romance scams.

Key Highlights

• Brent crude climbed close to $110 per barrel while WTI hit $96 amid escalating Middle East tensions through early April.
• President Trump postponed the deadline for potential strikes on Iran’s energy sector until April 6, citing active diplomatic discussions.
• Iranian officials have publicly rejected claims that negotiations with Washington are underway.
• Approximately 8 million barrels daily remain unavailable due to the continued blockade of the Strait of Hormuz.
• Energy analysts from Macquarie project oil could surge to $200 per barrel if hostilities persist beyond spring.

Global crude markets continue their sharp ascent as geopolitical strife involving the United States, Israel, and Iran throttles critical energy transport routes. Brent crude advanced nearly 2% to reach $109.92 per barrel during Friday trading. Meanwhile, U.S. West Texas Intermediate climbed to $96.08.

March appears set to deliver unprecedented gains for Brent crude. The benchmark has jumped approximately 52% throughout the month, representing one of the most dramatic monthly advances in modern energy trading history.

Hostilities erupted in late February and have resulted in the virtual shutdown of the Strait of Hormuz. This narrow maritime passage typically handles roughly 20% of the world’s petroleum shipments.

The strait’s closure has removed roughly 8 million barrels daily from international markets. Ole Hansen, Saxo Bank’s commodities strategy chief, noted that supply constraints are accelerating rapidly as vessels that departed Gulf ports before the crisis have completed their deliveries and offloaded their cargo.

President Trump pushed back the White House’s ultimatum for Iran to restore access to the strait or risk American military action against its energy infrastructure. April 6 now marks the revised deadline. Trump indicated that Iran requested the postponement and characterized ongoing discussions as productive.

Tehran contradicted this narrative through official channels. Iranian authorities stated that no diplomatic engagement with the United States is currently in progress.

Military Operations and Troop Deployments Expand

Combat operations have persisted throughout the region. Israeli forces announced they targeted a primary Iranian production center for missiles and naval mines located in Yazd. Kuwait confirmed drone strikes against two of its port facilities. Saudi authorities intercepted unmanned aircraft in the kingdom’s eastern provinces.

The Pentagon is evaluating the deployment of as many as 10,000 additional ground forces to the area, potentially including elements from the 82nd Airborne Division and Marine Expeditionary Units.

The Trump administration is simultaneously working to organize a diplomatic gathering in Pakistan scheduled for this weekend. Vice President JD Vance and additional high-ranking officials may participate in discussions aimed at identifying a pathway toward resolution.

Iranian leadership indicated it declined a 15-point American peace framework and presented alternative conditions. Tehran’s terms reportedly include formal acknowledgment of Iranian authority over the Strait of Hormuz.

Economic Ripple Effects and Global Market Reaction

The dramatic oil spike is amplifying wider economic anxieties. Government debt yields have climbed as market participants anticipate that elevated energy costs may compel monetary authorities to implement tighter policy.

The benchmark 10-year U.S. Treasury yield advanced to levels not observed since July. European bond markets in Germany and France experienced similar yield increases.

Numerous nations have implemented measures to cushion the impact on their populations. India reduced taxation on diesel and gasoline products. Vietnam implemented a temporary freeze on fuel-related levies through mid-April. New Zealand authorities documented evidence of consumer stockpiling of petroleum products.

Macquarie’s analytical team estimates a 40% probability that military confrontations will continue through June. Under that scenario, their forecasts suggest crude could reach $200 per barrel.

Two commercial container vessels operated by China’s Cosco Shipping made an attempt to transit the Strait of Hormuz on Friday but reversed course in proximity to Iranian territorial waters.

Vietnamese authorities have detained multiple ONUS-linked suspects after alleging they used false promotions and manipulated token trading to misappropriate investor funds through the crypto platform.

The Ministry of Public Security said Thursday that the investigation targeted a group accused of selling digital tokens through the Onus platform, using misleading promotions and coordinated trading activity to attract users. Authorities claim the group manipulated supply and demand and adjusted token prices, presenting the assets as legitimate investment opportunities while maintaining centralized control over their markets. 

Investigators named several suspects in the case, including Vuong Le Vinh Nhan, who is linked by Vemanti to XPLOR, the Singapore-based parent company of ONUS Pro; Tran Quang Chien, identified in Vietnamese reporting as the technical administrator of the ONUS exchange; and Ngo Thi Thao, director of HanaGold Jewelry JSC.

Authorities said the suspects are accused of creating and promoting tokens, including VNDC, ONUS and HNG, through the ONUS platform. Police say the scheme raised billions of dollars from investors. However, the authorities did not provide a breakdown of the losses. 

The case adds to scrutiny of crypto activity in Vietnam, one of the world’s most active retail digital asset markets.

Vietnam widens ONUS fraud probe

According to the Ministry of Public Security, the arrests follow a multi-agency investigation spanning several cities, with police summoning over 140 individuals for questioning and seizing evidence, as part of a broader effort to dismantle large-scale crypto-linked fraud operations. 

On Thursday, Vemanti said it learned of the indictments of Nhan Vuong and Chien Tran through the ministry announcement and Vietnamese media, and had engaged US legal counsel to assess the situation. Vemanti identified Vuong as chairman of its board and Tran as a board member.

Related: Indian court says ‘no case’ against CoinDCX founders in impersonation fraud

The ONUS platform presents itself as a digital asset ecosystem offering trading, staking and investment products, claiming more than seven million users and backing from the US-based fintech company Vemanti Group. 

Its official X account has more than 885,000 followers. However, market data aggregator CoinMarketCap lists the ONUS token with a self-reported market capitalization of around $25 million, highlighting a gap between the scale of alleged losses and publicly available token metrics.

Onus has not released an official statement addressing the situation.

Cointelegraph reached out to Onus for comment, but had not received a response by publication. 

India case points to wider scam network risks

In a separate case, India’s Central Bureau of Investigation said Thursday that it arrested a Mumbai-based suspect accused of helping traffic victims to scam compounds in Myanmar, where individuals were allegedly forced to carry out online fraud schemes, including crypto investment scams and romance scams.

The agency said victims were lured with job offers in Thailand before being diverted to scam centers in Myanmar’s Myawaddy region, where they were subjected to confinement, intimidation and abuse while being made to target victims globally.

Magazine: Banks want to run Vietnam’s crypto exchanges, Boyaa’s $70M BTC plan: Asia Express