Key Highlights

• Q1 earnings per share reached $6.14, surpassing Wall Street’s $6.05 projection by $0.09
• Quarterly revenue totaled $9.88 billion, marking a 4% year-over-year increase and exceeding the $9.76 billion forecast
• The Aeronautics Systems division reported a 17% sales increase, fueled by B-21 bomber and Sentinel program growth
• Operating profit jumped 73% to $989 million while segment margins expanded to 10.8%
• Shares declined approximately 1.6% during premarket hours despite beating estimates, with unchanged annual projections

Northrop Grumman delivered impressive first-quarter 2026 results that exceeded analyst expectations across key metrics, yet the defense contractor’s shares retreated during Tuesday’s early market session.

The company reported earnings per share of $6.14, comfortably above the Street’s $6.05 consensus target. Quarterly sales reached $9.88 billion, reflecting a 4% increase compared to the $9.47 billion recorded in the same period last year, and beating the anticipated $9.76 billion mark.

The Aeronautics Systems division emerged as the standout performer, with revenue soaring 17%. This substantial growth stemmed from a recently secured agreement with the U.S. Air Force that accelerates B-21 bomber manufacturing capacity alongside expedited deployment of the Sentinel intercontinental ballistic missile program’s initial operational capability.

Northrop Grumman Corporation, NOC

Operating profit experienced a remarkable 73% surge to $989 million during the quarter. The company’s operating margin expanded significantly to 10.0% from the prior year’s 6.1%. This dramatic improvement was primarily attributed to the elimination of a $477 million charge related to the B-21 program that had negatively impacted first-quarter 2025 financial performance.

Segment operating profit climbed 89% to $1.07 billion, while segment operating margins improved substantially from 6.0% to 10.8%.

The defense contractor secured $9.8 billion in net new contract awards throughout the quarter. The company’s total backlog now stands at an impressive $95.6 billion — representing more than double its annual revenue.

Organic revenue growth registered at 5% on a year-over-year basis.

Full-Year Projections Remain Unchanged

Northrop maintained its previously issued 2026 full-year guidance without modification. Management continues to anticipate total sales between $43.5 billion and $44.0 billion, with MTM-adjusted earnings per share projected in the $27.40 to $27.90 range.

Current analyst consensus sits at approximately $28 for EPS — positioned above the company’s upper guidance threshold. Notably, when the defense contractor initially provided guidance in January, Wall Street expectations were hovering around $29.

The company reaffirmed its free cash flow target of $3.1 billion to $3.5 billion for the year. Segment operating income guidance remains between $4.85 billion and $5.0 billion.

Chief Executive Kathy Warden characterized the quarterly performance as evidence of the organization’s capability to execute amid “today’s unprecedented global demand environment.”

Market Response

Notwithstanding the earnings beat, NOC shares declined roughly 1.6% during premarket activity to $646.67. Meanwhile, both S&P 500 and Dow Jones Industrial Average futures were trading higher during the same timeframe.

The stock had already appreciated 15% year-to-date prior to Tuesday’s announcement, and approximately 24% over the trailing twelve-month period. Shares currently command a forward price-to-earnings multiple of about 23 times, elevated from roughly 19 times one year earlier.

This premium valuation level may help explain why a solid quarterly earnings performance failed to generate positive momentum for the stock, particularly given the company’s decision to maintain rather than raise its full-year outlook.

Fraudsters posing as Iranian authorities have targeted shipping firms with crypto-based demands to secure passage through the Strait of Hormuz, according to maritime risk outfit Marisks.

Marisks said unknown groups contacted shipowners claiming to represent Iran’s security services and demanded payment in Bitcoin or USD Tether in exchange for transit clearance, after requesting verification documents first. Reuters reported on the scam messages, noting they did not originate from Iranian authorities; Tehran has not publicly commented.

The warnings come as the Strait of Hormuz remains largely closed amid regional hostilities. The strait, a critical conduit for global energy shipments, previously handled roughly one-fifth of the world’s oil and LNG before the latest flareups. Earlier this month, Cointelegraph reported that Iran was considering tolls payable in BTC for ships passing through Hormuz, with empty tankers allowed free passage while others could be charged about $1 per barrel of oil.

Key takeaways

• Marisks warns that scams impersonating Iranian security services are soliciting crypto payments (BTC or USDT) for Hormuz transit, accompanied by requests for verification documents.
• The messages are not sourced from official Iranian authorities, according to Marisks and Reuters; Tehran has not publicly commented on the claims.
• The Strait of Hormuz remains largely closed amid Middle East hostilities, underscoring the vulnerability of global energy flows at this chokepoint.
• Sanctions risk looms large: payments tied to Iranian waterways could be treated as material support, with potential violations of US and international sanctions.
• This episode highlights the broader debate about crypto’s role in sanctioned regimes and the regulatory risks for shipping and crypto actors alike.

Crypto tolls, scams and the geopolitics of Hormuz

The messages described by Marisks present a classic manipulation: a supposed security clearance tied to a crypto payment, followed by a claim that transit will be allowed at a pre-arranged time once verification steps are completed. In at least one cited instance, the channel suggested Iranian security services would assess eligibility before determining the crypto payment in BTC or USDt. Marisks noted that a vessel recently targeted by gunfire while attempting to exit the strait may have received such instructions, though this has not been independently verified. Cointelegraph reached out to Marisks for comment but did not receive an immediate reply.

The episode arrives against a backdrop of wider geopolitical tension around Hormuz. Al Jazeera reported the Strait’s continued closures amid the conflict, a development that raises the stakes for insurers, operators and lenders who rely on predictable access to global energy markets. The strategic chokepoint remains a focal point for policy and risk assessment as regional dynamics evolve.

In earlier reporting, Iran was described as weighing crypto-based tolls to monetize navigation through Hormuz—an approach that would tilt the balance between open sea lanes and sanctioned finance. Cointelegraph’s coverage noted debates over BTC and USDt as potential toll instruments, reflecting a broader conversation about crypto’s utility in sanctioned economies and the practical risks for those who accept crypto payments under duress or misrepresentation. See the prior analysis on Iran’s crypto toll discussions for additional context.

Sanctions risk and what it means for operators

Beyond operational risk, industry analysts warn of serious compliance implications. Chainalysis senior intelligence analyst Kaitlin Martin told Cointelegraph that any payments tied to Iranian-controlled waterways could constitute “material support,” potentially violating US and international sanctions targeting entities linked to the Islamic Revolutionary Guard Corps. The warning underscores that crypto payments conditioned on access to strategic corridors can create exposure well beyond the immediate toll itself.

These developments sit at the intersection of geopolitical maneuvering and evolving crypto policy. Iran’s interest in leveraging digital currencies for energy transit has been debated in crypto policy circles, with discussions weighing potential benefits against the entrenched sanctions regime. For readers seeking deeper background, coverage exploring Iran’s BTC and USDt toll dynamics remains a pertinent companion piece.

As authorities surveil illicit use of crypto in restricted corridors, shipowners, operators and their counterparties will be watching for official guidance on sanctions enforcement and any regulatory clarifications related to crypto-enabled tolls. The risk environment around Hormuz—already shaped by conflict, insurance considerations and the reliability of communications—adds another layer of complexity for the global maritime and crypto communities.

Watch for formal statements from regulatory bodies and industry associations as this situation unfolds. The next steps will likely hinge on how sanctions enforcement perspectives evolve and whether crypto-based toll proposals advance or recede amid ongoing geopolitical tensions.

Ripple has introduced a four-phase roadmap to make the XRP Ledger quantum-resistant by 2028. 

The plan responds to growing concern that advances in quantum computing could weaken the cryptography used across blockchain networks.

Ayo Akinyele, senior engineering director at RippleX, detailed the roadmap in a company blog post. The plan starts with a “Quantum-Day” contingency that would block classical signatures and direct users to quantum-safe accounts if current cryptography fails unexpectedly.

Ripple said the next two phases will take place during 2026. Those stages will focus on testing quantum-resistant algorithms recommended by the National Institute of Standards and Technology.

The final phase would add a native amendment to the XRP Ledger by 2028. That step is intended to bring quantum-resistant protections directly into the network’s core design.

Ripple said phases two and three will include technical testing and infrastructure work. The company is working with research firm Project Eleven on validator benchmarks and an early custody wallet prototype.

The testing phase aims to measure how quantum-safe algorithms perform under real network conditions. It also gives Ripple time to review how those tools can fit into validator operations and custody systems before a broader rollout.

Ripple’s timeline places much of the development work ahead of the final implementation target. The company said its approach is designed to prepare the ledger before quantum computing becomes a direct threat to blockchain security.

The roadmap also arrives one year before Google’s 2029 post-quantum cryptography target mentioned in the report. That comparison puts Ripple’s deadline earlier than one benchmark often cited in the wider technology sector.

Focus turns to long-term cryptography risk

Ripple linked the plan to the “harvest now, decrypt later” threat. That risk refers to attackers collecting public-key data today and waiting until quantum machines become strong enough to break it later.

The company said this issue matters for long-term holders whose public-key information may remain exposed over time. Recent Google Quantum AI research, cited in the report, found that about 500,000 physical qubits could derive a private key from an exposed public key in nine minutes.

That estimate marked a sharp reduction from earlier assumptions about the resources needed for such an attack. As a result, blockchain developers are giving more attention to how current networks can prepare for future cryptography risks.

XRP Ledger feature may support the transition

Ripple said the XRP Ledger has one built-in feature that could help during the transition. Unlike Ethereum, XRPL supports native key rotation, which allows users to replace vulnerable keys without moving their funds.

That design may make it easier for holders to respond if existing signature methods become unsafe. It also gives the network a direct way to manage account security without forcing full asset transfers during a migration.

The report added that more than 6.9 million Bitcoin sit in wallets with exposed public keys. XRP traded near $1.43 on Monday, up about 7% over the week as the broader crypto market moved higher.

BYDFi marks rapid global growth with 1M users and multiple industry recognitions.

 Overview

What is BYDFi?

Launched in April 2020, BYDFi is a global cryptocurrency trading platform operating under the vision “BUIDL Your Dream Finance.” In just over five years, it has grown to serve more than 1,000,000 registered users across 190+ countries and regions, offering a broad suite of trading tools that spans spot markets, perpetual futures, copy trading, automated bots, and on-chain trading through its proprietary web3 engine, MoonX.

BYDFi has received multiple industry recognitions, including being ranked among the top global crypto exchanges by Forbes in 2023, as well as earning the Trusted Exchange Award 2025 from TrustFinance and being named Best Centralized Exchange (CEX) by BeInCrypto in 2025. The platform is also featured among the top 100 crypto exchanges by Coingecko.

One of BYDFi’s more distinctive moves came in 2025, when it announced a multi-year partnership with Newcastle United, becoming the Premier League club’s Official Crypto Exchange Partner. The partnership is a signal of its ambitions to grow its mainstream brand presence internationally.

Features

BYDFi’s feature set is one of the most comprehensive in the industry. Traders looking for derivatives exposure will find 500+ perpetual contract pairs with leverage up to 200x, which is notably higher than rivals like Binance (125x) and Bybit (100x). The platform supports USDT-margined, USDC-margined, and coin-margined futures, giving traders more flexibility in how they manage collateral.

A standout addition in 2026 is TradFi trading — the ability to trade tokenized stocks (AAPL, TSLA, AMZN, MSFT, and others), forex pairs, and commodities like Gold (XAUUSD), all settled in USDT with zero trading fees. This blurring of the line between crypto and traditional finance is a differentiator that few exchanges can claim.

For newcomers, BYDFi offers a demo account loaded with 50,000 USDT, allowing risk-free practice under real market conditions with full access to derivatives tools and leverage settings. Copy trading and a bot marketplace round out the toolkit, letting beginners mirror professional strategies without needing deep market expertise.

MoonX, BYDFi’s on-chain trading engine, supports Solana, BNB Chain, and Base, and comes with features including token safety indicators, copy trading, portfolio tracking, and a token launch platform called Pump. This gives the platform a genuine CEX+DEX dual-engine architecture, a model that few centralized exchanges have pursued as directly.

Security is addressed through a combination of over 1:1 proof-of-reserves (with periodic public reports), an 800 BTC protection fund added in September 2025, cold storage for the majority of user assets, multi-party transaction approvals, and segregated client accounts. In February 2025, BYDFi also launched a co-branded hardware wallet through a partnership with Ledger.

Pros and Cons

Among BYDFi’s clearest strengths is its no-KYC policy. Users can register with just an email address and immediately access the full range of spot, derivatives, copy trading, bot, and on-chain features. This is a significant advantage for privacy-conscious traders or those in regions where verification processes are slow or complex. Optional KYC unlocks higher withdrawal limits and P2P trading access.

The platform supports multiple languages to assist its global user base. It supports 22 languages and offers 24/7 live customer support, both in-app and on its website.

On the downside, the breadth of BYDFi’s product lineup can feel overwhelming at first glance. New users may need time to navigate between spot, derivatives, TradFi, MoonX, and the various bot strategies before finding their footing. The no-KYC approach, while appealing to some, also raises questions about long-term regulatory positioning as compliance requirements tighten globally.

Conclusion

BYDFi has quietly built one of the more feature-rich trading environments in the crypto space. From 200x leverage and TradFi integration to on-chain meme trading and an 800 BTC protection fund, it has made deliberate product choices that set it apart from generic exchange alternatives. Recognized by both Forbes and Crypto Expo Europe 2026’s Best All-in-One Crypto Trading Platform, it has earned external validation to match its internal ambitions. For traders who want more tools under one roof, without the friction of mandatory identity verification, BYDFi is a platform worth serious consideration.

Fraudulent actors posing as Iranian authorities have reportedly sent messages to shipping companies whose vessels remain stranded west of the Strait of Hormuz, demanding payment in cryptocurrency for safe passage.

On Monday, maritime risk company Marisks issued a warning saying unknown groups had contacted shipowners claiming to represent Iranian security services and requesting transit “fees” in Bitcoin (BTC) or USDt (USDT) in exchange for clearance through the strait, according to Reuters.

“These specific messages are a scam,” Marisks reportedly said, adding that they do not originate from Iranian authorities. Tehran has not publicly commented on the claims.

The alerts come as the strategic waterway remains largely closed following the outbreak of conflict in the Middle East. The Strait of Hormuz, a critical chokepoint for global energy flows, previously handled around one-fifth of the world’s oil and liquefied natural gas exports before hostilities escalated in the region.

Earlier this month, reports said Iran was considering charging ships passing through the Strait of Hormuz a tariff payable in Bitcoin, with empty tankers allowed free passage while others could be charged around $1 per barrel of oil.

Related: Iran views BTC as strategic asset, but USDt still dominates oil tolls: BPI

Crypto “transit fee” scam demands verification docs

The reported scam messages instruct recipients to submit documentation for verification before being assigned a “fee” payable in cryptocurrency, after which safe transit would allegedly be granted at a pre-agreed time.

In one example cited by Marisks, the message stated that Iranian security services would assess eligibility before determining payment in BTC or USDt, framing crypto transfers as a condition for unimpeded passage.

The company also suggested that at least one vessel recently targeted by gunfire while attempting to exit the strait may have received such fraudulent instructions, though the information has not been independently verified.

Cointelegraph reached out to Marisks for comment but did not receive an immediate response.

Related: Bitcoin community weighs in on reports of Iran’s crypto toll for oil ships

Crypto payments to Iran could trigger sanctions risks: Chainalysis

Shipping companies considering paying transit fees in cryptocurrency to Iran could face serious sanctions exposure, according to Chainalysis senior intelligence analyst Kaitlin Martin.

She told Cointelegraph that any payments linked to Iranian-controlled waterways could be treated as “material support,” potentially violating US and international sanctions targeting entities such as the Islamic Revolutionary Guard Corps.

Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt